For those that can figure out what this means...here are some excerpts from this year's year-end release and from the previous year - it looks to me that Nuvo is receiving less royalties than previous year despite higher sales - so either their royalty percent went down or the price of pennsaid bottles went down - is this already common knowledge?
From year-end 2011 release:
According to IMS Health, during the fourth quarter of 2011, U.S. prescriptions of Pennsaid continued to grow quarter-over-quarter to a record of approximately 47,000 with an average 1.31 bottles of Pennsaid dispensed per script.
From year-end 2012 release:
According to IMS Health, a provider of dispensed prescription data, during the fourth quarter of 2012, U.S. prescriptions of Pennsaid were 51,000 with an average 1.33 bottles of Pennsaid dispensed per script.
Revenue, consisting of product sales, royalties, license fee revenue and research and other contract revenue for the three months ended December 31, 2012 was $3.6 million compared to $5.2 million for the three months ended December 31, 2011. The decrease was attributable to a $0.7 million decrease in royalty revenue from lower net sales of Pennsaid in the U.S.
In fourth quarter 2011, Nuvo had 47,000 scripts at 1.31 per = 61,570
In fourth quarter 2012, Nuvo had 51,000 scripts at 1.33 per = 67,830
Despite having 6000+ more bottles sold in fourth quarter of 2012 compared to same period the previous year (ie. a 10% increase), their royalty went down! That means their royalty percentage was decreased or the price of their bottles went down?
I apologize if this is already known...just can't stand the same thing year after year. Seems like we can't gain any traction with this stock.