Repligen reported preliminary unaudited revenue results for the fiscal year ended December 31, 2014. For the period, the company reported total revenue of $63-$63.5 million. This total revenue figure is comprised of approximately $3 million in revenue from out-licensed therapeutic programs and product revenue of $60-$60.5 million, an increase from previous product revenue guidance of $58-$60 million. Product revenue reflects sales growth of 26%-27%, driven by strength in sales of products that the company sells directly to end users including partial year sales of the Alternating Tangential Flow System (the ATF System), the most recent addition to Repligen's proprietary product portfolio.

For 2015, the company currently projects product revenue in the range of $69-$72 million, reflecting 15%-20% sales growth compared to 2014, which included only partial year sales of the ATF System. Gross margin on product sales is expected to be greater than 55% in 2015. These projections do not include the impact on product revenue or gross margin of potential acquisitions and/or fluctuations in currency exchange rates during 2015.