Shares of Talecris Biotherapeutics, which began trading publicly last month, surged this morning after the company reported higher third-quarter profit and sales of its medicine made from blood plasma.
On Monday afternoon, Talecris reported revenue of $395.7 million for the period ended Sept. 30, up about 13 percent from a year earlier.
Profit rose to $35.8 million, or 38 cents a share, from $20.6 million, or 22 cents a share.
It was Talecris' first earnings report since the Research Triangle Park company raised $1.1 billion in its initial public offering, one of the largest and most successful IPOs on Wall Street this year. The shares began trading publicly at $19 on Oct. 1.
The money raised was used mostly to repay debt. But the IPO and a $600 million debt refinancing also allowed the company to improve its balance sheet and plan future expansion.
Company officials have said they'll consider adding capacity at Talecris' Clayton factory, which employs about 1,500 people, but also are looking at other sites.
"We are now very well positioned to invest in our business," CEO Lawrence Stern said on a conference call with Wall Street analysts.