Furiex Pharmaceuticals, Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenue of $2.645 million against $39.325 million a year ago. Operating loss was $9.477 million against operating income of $10.067 million a year ago. Loss before provision for income taxes was $9.752 million against income before provision for income taxes of $9.057 million a year ago. Net loss was $9.758 million or $0.98 per diluted share against net income of $8.966 million or $0.82 per diluted share a year ago. The changes in net income during the first quarter of 2013, as compared to the same period in the prior year, relates primarily to the changes in revenues and expenses previously discussed.

Furiex Pharmaceuticals, Inc. announced it will receive a $5.0 million milestone payment from the Menarini Group for the launch of Priligy in France. Currently, Priligy is marketed for on-demand treatment of premature ejaculation in 16 countries in Europe, Asia and Latin America, and is approved for that indication in 56 countries worldwide. In May 2012, Furiex entered into a license agreement with Menarini to commercialize Priligy in Europe, most of Asia, Africa, Latin America and the Middle East. Under the terms of the License Agreement, Furiex is eligible to receive an additional $5.0 million launch milestone and up to $40.0 million in sales-based milestones, plus tiered royalties ranging from the mid-teens to mid-twenties in percentage terms.

Furiex Pharmaceuticals, Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 08, 2013