Horizon Pharma posts 1st-quarter loss of $19.6 million, misses expectations

Horizon Pharma reported a loss of $19.6 million in its first quarter even though the drugmaker's revenue more than doubled.

On a per-share basis, the Dublin company's loss was 16 cents. Earnings, adjusted for amortization costs and to extinguish debt, came to 21 cents per share.

That missed Wall Street expectations by two cents, according to the data firm FactSet.

Company revenue climbed to $113.1 million, or above analyst expectations for $105.2 million.

But the drugmaker also said its operating expenses soared 86 percent to $79.5 million in the quarter, due in part to higher spending on product research, development and marketing.

Shares fell 40 cents to $28.99 in late-morning trading. The Standard & Poor's 500 index rose 1.2 percent.

Shares of Horizon Pharma Inc. have more than doubled since the beginning of the year.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HZNP at http://www.zacks.com/ap/HZNP

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Keywords: Horizon Pharma, Earnings Report