They expanded sales force accounting for some of the expense. They now have $72 million in cash on hand, and that continues to grow. You really have to look at EBITA which is growing. Estimated sales for 2012 is projected to be > $200 million, which is on target. Glumetza sales doubled from 1 year ago.
The big thing SNTS has is a very nice pipeline for a small pharma company with approvals for marketing expected soon:
Uceris PDUFA is about 2 months out (no problems noted from management). Rhoconest is on schedule to finish the phase 3 trial necessary to file with the FDA on that. Rifamycin MMX is moving ahead and they are working with Dr. Falk Pharma from EU to add patients. All of these 3 products can have additional possibilities for indications.
Its expected. I intend to hold and maybe buy some more shares if it gets punished enough. This is the game with small pharma. But once the drug gets approved it's super fantastic. The stock will see a major bounce. Just look at what happened to ARNA.
And like siamesekitty711 said. The cash on hand is a good thing.
Not a miss of any permanent importance. Most of the product lines are moving along at an appropriate pace, and another patent challenge was a given. The late stage products are significant from the standpoint of improved efficacy for the conditions being treated. The glass is half full, not half empty. No reason to lose any sleep over second quarter.