Alkermes Reiterates FY22 Outlook; Q1 Results Top Estimates

While reporting financial results for the first quarter on Wednesday, biopharmaceutical company Alkermes plc (ALKS) reiterated its earnings and revenue guidance for the full-year 2022.

For fiscal 2022, the company continues to project a loss in the range of $1.00 to $1.29 per share and adjusted loss in the range of $0.18 to flat per share on total revenues between $1.00 billion and $1.09 billion.

On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.09 per share on revenues of $1.04 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company reported a net loss of $35.9 million or $0.22 per share, wider than $22.4 million or $0.14 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.12 per share, compared to $0.11 per share in the year-ago quarter. Total revenues for the quarter grew to $278.5 million from $251.4 million in the same quarter last year.

The Street was looking for earnings of $0.01 per share on revenues of $252.59 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
United Airlines and Archer Aviation Inc. announced plans to launch the first commercial electric air taxi route in Chicago, between O'Hare International Airport or ORD and Vertiport Chicago. As part of their urban air mobility or UAM network buildout, both companies will utilize Archer's electric vertical takeoff and landing or eVTOL aircraft in the new route. Fort Wayne, Indiana-based Perfection Bakeries D/B/A Aunt Millie's is recalling 8 ct. packages of Our Family White Hot Dog Buns citing the possible presence of undeclared sesame, a known allergen, the U.S. Food and Drug Administration said. The product comes in a printed plastic package marked with "Our Family Hot Dog Buns 8 ct." on the top and has a blue twist tie. Parsippany, New Jersey -based Ascend Laboratories LLC. is recalling Dabigatran Etcxilate capsules citing the detection of N-Nitrosodimethylamine or NDMA impurity, a probable human carcinogen, the U.S. Food and Drug Administration said. The product is used as an oral anticoagulant to lower the risk of stroke and blood clots.
Follow RTT