Alkermes Q2 2020 Earnings Report
Key Takeaways
Alkermes plc reported second quarter revenues of $247.5 million, GAAP net loss per share of $0.19 and diluted non-GAAP earnings per share of $0.06. The company is focused on commercial execution, aggressive development of pipeline programs, and efficient management of operating structure.
Total revenues for the quarter were $247.5 million.
GAAP net loss was $29.4 million for the quarter, or a GAAP net loss per share of $0.19.
Non-GAAP net income was $8.9 million for the quarter, or a non-GAAP basic and diluted earnings per share of $0.06.
At June 30, 2020, Alkermes recorded cash, cash equivalents and total investments of $539.6 million.
Alkermes
Alkermes
Alkermes Revenue by Segment
Forward Guidance
The following financial expectations for 2020 reflect the anticipated net impacts of the COVID-19 pandemic on Alkermes’ operating and financial results. Alkermes anticipates that the negative impact of COVID-19 on VIVITROL net sales will be partially offset by a decrease in operating expenses, notably within R&D.
Positive Outlook
- Total Revenue $965 - $1,005 million
- VIVITROL Net Sales $270 – $300 million
- ARISTADA Net Sales $220 – $235 million
- Non-GAAP Net Income $0 – $30 million
- Non-GAAP Diluted EPS $0.00 – $0.19
Challenges Ahead
- Cost of Goods Sold $180 – $190 million
- R&D Expenses $370 – $395 million
- SG&A Expenses $525 – $550 million
- GAAP Net Loss ($145) – ($175) million
- GAAP Net Loss per Share ($0.91) – ($1.10)