Westlake Village-based Kythera Biopharmaceuticals reports second quarter loss
Westlake Village-based Kythera Biopharmaceuticals missed analyst estimates when it released second quarter earnings on Aug. 6.
Kythera lost $1.44 per share, missing analyst estimates of a loss of $1.10 per share. For the quarter, Kythera lost $37.2 million, compared to $19.5 million during the second quarter of 2014.
On June 17, Allergan announced that it would buy Kythera for $2.1 billion. The cash and stock deal is for about $75 per share of Kythera stock.
Kythera’s value rocketed past $1 billion in April when Kybella, its new double-chin reducing drug, gained approval from the Food and Drug administration. The drug got Kythera a lot of positive press and the company sold $310,000 worth of Kybella during the first two quarters.