Total revenue for the second quarter ended June 30, 2011 was $2.5 million, which consisted of $2.0 million in collaboration revenue, primarily from the amortization of upfront license fees received under the Astellas Agreement, and $0.5 million of Qutenza product sales.
I understand the $2 Million quarterly payments, but how can their 30+ sales people only sell $500,000 in product for the quarter? What is the problem here? Weren't they selling close to that same amount several quarters ago?
Couple this with the $40 million in additional financing and the financials at this company stink. Is the new product they are working on coming out soon, and is it expected to be a blockbuster? I am looking for a reason to invest with this company and not finding any valid arguments.