logo
  

ANI Pharma Q2 Adj. Earnings Misses Estimates, Reiterates FY22 Guidance

ANI Pharmaceuticals, Inc. (ANIP) Monday announced a wider loss for the second quarter, despite a 52 percent surge in revenues. For the full year 2022, the company reiterated the adjusted earnings per share range, revenue guidance and raised Cortrophin revenue outlook.

The company reported a quarterly net loss available to the company of $15.33 million, wider than $14.11 million last year. On a per share basis, loss was $0.94, compared to $1.17 last year. On an adjusted basis, earnings were $0.13 per share.

On average, 3 analysts polled by Thomson Reuters expected the company to earn $0.22 per share. Analysts estimates usually exclude special items.

Revenue for the quarter spiked to $73.86 million from $48.63 million last year. The contribution from the sale of rare disease pharma products was $10.20 million compared to nill last year. Analysts expected $72.1 million.

Looking ahead to the full year 2022, the company reiterated revenue guidance in a range of $295 to $315 million. Adjusted earnings per share is projected to be between $1.34 and $1.62 per share.

Further, the company raised its rare disease asset Purified Cortrophin Gel 2022 net revenue guidance to $40 to $45 million from previous projection of $35-$40 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said it now intends to review only a small subset of new emergency use authorization or EUA requests for diagnostic tests. As per an updated COVID-19 test policy with a view to ensure continued access to tests, the regulator further urged developers of all test types seeking marketing authorization to pursue traditional premarket review for most test types. Netflix, Inc. said it is adding a new feature to offer a more personalized mobile games experience on the platform. In a statement, Sophia Yang, Product Manager, Mobile Games, said the company is rolling out the ability to create game handles, with which members will be able to create a unique public username. This can be used across all Netflix games. General Motors Co. has delayed its plan to require employees to return to office many days a week until next year, reports said citing an internal memo signed by CEO Mary Barra. Last week, the company had announced that corporate workers would be required to return to respective offices at least three days a week, beginning later this year, as the COVID-19 pandemic eases.
Follow RTT