results out

Just in case anyone was in any doubt about what to expect over the coming months....

"I expect this pace to continue as additional contracts progressively emerge from our large, expanding commercial pipeline."




Unilife Corporation Announces Financial Results For Fiscal Year 2014 Second Quarter

YORK, Pa., Feb. 3, 2014 /PRNewswire/ -- Unilife Corporation ("Unilife" or "Company") (NASDAQ:UNIS; ASX: UNS), a developer and supplier of injectable drug delivery systems, today announced its financial results for the quarter ended December 31, 2013, (the second quarter of Fiscal Year 2014).
Recent Highlights
• In November 2013, Unilife signed a long-term commercial supply contract with Hikma Pharmaceuticals PLC ("Hikma") for the use of Unifill® prefilled syringes with an initial list of 20 generic injectable drugs. Product sales to Hikma will commence in early calendar 2014, with a minimum 175MM units per year to be purchased following a high-volume ramp program. In addition to product sales, Unilife expects to receive $40 million in upfront and milestone payments over the next two years. Unilife received the first payment of $5 million from Hikma during the second quarter of fiscal year 2014. Additional milestone payments have also been received during the third quarter of fiscal year 2014.
• In November 2013, Unilife signed an agreement with MedImmune, the global biologics arm of AstraZeneca, to customize and supply devices from its platform of wearable injectors for use with several target drug candidates from MedImmune's portfolio. Unilife is receiving regular payments from MedImmune under the contract.
• In December 2013, Unilife signed a contract with a global pharmaceutical company seeking to use Unilife's Ocu-ject™ delivery system to deliver a target injectable therapy into the eye. Revenue under the program is scheduled to commence during the third quarter of fiscal year 2014.
• In December 2013, Unilife signed an agreement with Novartis to supply clinical products from one of its platforms of injectable drug delivery systems for use with a targeted early stage pipeline drug. Unilife began to generate revenue under the Novartis under the program during the second quarter of fiscal year 2014. Additional payments are expected as the program continues this calendar year.
• Unilife also continues to receive milestone payments and revenue from other customer programs. This includes $5 million in payments from Sanofi during the first quarter of fiscal year 2014, with an additional $5 million being received during the current third quarter of fiscal year 2014. In total, Unilife has invoiced for more than $20 million since the start of fiscal year 2014, with the majority of that cash having been received since November 2013.
Mr. Alan Shortall, CEO of Unilife, commented: "This has been a strong quarter for Unilife, in which momentum continues to build. Many significant new long-term contracts have been signed with leading pharmaceutical companies including Novartis, MedImmune and Hikma. Milestone payments and revenue are increasing as a result of our execution of these and other customer programs. I expect this pace to continue as additional contracts progressively emerge from our large, expanding commercial pipeline."
Financial Results for Three Months Ended December 31, 2013
Revenue for the three months ended December 31, 2013, was $3.6 million compared to $0.7 million for the same period in 2012.
The Company's net loss for the three months ended December 31, 2013, was $16.3 million, or $0.17 per share, compared to a net loss of $14.6 million, or $0.19 per share, for the same period in 2012. Adjusted net loss for the three months ended December 31, 2013, was $8.3 million, or $0.08 per share, compared to $9.7 million, or $0.12 per share, for the same period in 2012. Adjusted net loss excludes non-cash share-based compensation expense, depreciation and amortization and interest expense.
Unilife reported $6.7 million of total cash and cash equivalents, including restricted cash, as of December 31, 2013. This does not include $6.2 million in cash generated under the Company's ATM facility with Cantor Fitzgerald in January 2014.