-- Company Updates on Q1 Revenue --
BOSTON, April 13, 2015 /PRNewswire/ -- Effective this morning, Columbia Laboratories, Inc. is now Juniper Pharmaceuticals, Inc. (Nasdaq: JNP) ("the Company"), and its Nottingham, UK based subsidiary Molecular Profiles, Ltd., is now Juniper Pharma Services. The Company's common stock will begin trading today under the symbol JNP on the Nasdaq Stock Exchange.
"The single Juniper brand formalizes the experience and capabilities we have built across our CRINONE® franchise, service business, and proprietary product development programs," said Frank Condella, CEO of Juniper Pharmaceuticals. "The integration of Juniper Pharma Services has provided critical in-house drug development expertise, as well as supply chain management for CRINONE®, while also generating cash-flow to advance our proprietary drug programs."
The specialty pharmaceutical company has adopted a new logo with an icon featuring two interlocked rings. The icon symbolizes the synergy between Juniper Pharma Services capabilities and the Company's women's health focused pipeline.
Additionally, a new corporate website reflecting the Juniper brand identity has been launched at www.juniperpharma.com.
Separately, the Company announced that revenues for the first quarter of 2015 are expected to exceed the prior year first quarter by more than 15%. The growth is driven by an increase in CRINONE® (progesterone gel) shipments, combined with the growth of the service business in local currency. The first quarter of 2015 will also include R&D spending associated with drug development activities discussed below. The Company is maintaining its full year guidance of low double-digit revenue growth.
The Company's value creation strategy is to support the continued growth of the CRINONE® franchise by its partners Merck Serono and Actavis, expand and maintain a profitable service business by providing unique pharmaceutical development capabilities to global pharmaceutical customers, and invest operating cash flow into a proprietary product pipeline to build long-term shareholder value.
Recent pipeline developments include an Investigational New Drug filing with the U.S. Food and Drug Administration for COL-1077, a 10% lidocaine bioadhesive gel intended as an acute anesthetic for use in women undergoing transvaginal pipelle-directed endometrial biopsy. A Phase II randomized, double-blinded, placebo controlled study that will enroll 150 patients at fifteen U.S. sites will be initiated later this quarter.
Furthermore, the Company recently licensed worldwide exclusive rights to a proprietary intra-vaginal ring technology (IVR) developed by renowned scientists Dr. Robert Langer from the Massachusetts Institute of Technology and Dr. William Crowley from Massachusetts General Hospital and Harvard Medical School. The IVR technology enables the delivery of one or more pharmaceuticals at different dosages and release rates in a single segmented ring. This patient administered-device will be utilized as a key drug delivery platform for Juniper's emerging proprietary product pipeline.
Drs. Langer and Crowley are also serving as strategic scientific advisors to help guide Juniper's R&D initiatives and drug development strategy.
About Juniper Pharmaceuticals
Juniper Pharmaceuticals, Inc. (Nasdaq: JNP) is a specialty pharmaceutical company focused on developing therapeutics that address unmet medical needs in women's health. Juniper has a successful heritage in developing pharmaceutical products, including CRINONE® 8% (progesterone gel), which is marketed by Actavis, Inc. in the U.S. and by Merck Serono S.A. in over 60 countries worldwide. The Company is uniquely positioned to leverage in-house pharmaceutical development, clinical trial manufacturing, and analytical capabilities to advance an internal development pipeline, while also providing valuable consultative services to its pharmaceutical industry customers. Please visit www.juniperpharma.com for more information.
Juniper Pharmaceuticals™ and Juniper Pharma Services™ are trademarks of Juniper Pharmaceuticals, Inc., in the U.S. and EU.
CRINONE® is a registered trademark of Actavis, Inc. in the U.S.
Forward Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This communication contains forward-looking statements, which statements are usually indicated by the words "may," "will," "plans," "believes," "expects," "anticipates," "potential," "should," or similar expressions, and which are generally not historical in nature. These include all statements relating to expected financial performance and future business or product developments. Management believes that these forward-looking statements are reasonable as and when made. However, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. These statements are based on management's current expectations and Juniper Pharmaceuticals does not undertake any responsibility to revise or update any forward-looking statements contained herein, except as expressly required by law. For a discussion of certain risks and uncertainties associated with Juniper Pharmaceuticals' forward-looking statements, please review the Company's reports filed with the SEC, including, but not limited to, its Annual Report on Form 10-K for the period ended December 31, 2014.
MBS Value Partners
SOURCE Columbia Laboratories, Inc.