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Sep 30, 2021
ANI Pharmaceuticals Q3 2021 Earnings Report
ANI Pharmaceuticals reported a net loss of $4.4 million and net revenues of $52.1 million.
Key Takeaways
ANI Pharmaceuticals reported third quarter results with net revenues of $52.1 million and a net loss of $4.4 million. The company highlights the FDA approval of the supplemental new drug application for Purified Cortrophin™ Gel and the expected acquisition of Novitium Pharma LLC.
Net revenues for the third quarter of 2021 were $52.1 million.
Net loss for the third quarter of 2021 was $4.4 million, with a diluted loss per share of ($0.37).
Adjusted non-GAAP diluted earnings per share were $1.01 for the third quarter of 2021.
The FDA approved a supplemental new drug application for Purified Cortrophin™ Gel, with a full-scale launch planned for early Q1 2022.
ANI Pharmaceuticals
ANI Pharmaceuticals
ANI Pharmaceuticals Revenue by Segment
Revenue by Segment
Brands Revenue
CapyFin.comGeneric Pharmaceutical Products Revenue
CapyFin.com Forward Guidance
ANI Pharmaceuticals anticipates sustainable growth driven by key strategic pillars, including the approval of the Cortrophin Gel sNDA and the Novitium acquisition.
Positive Outlook
- Approval of the Cortrophin Gel sNDA enables ANI to serve patients in need and build new capabilities.
- The Novitium acquisition investment thesis is well on track, achieving ten new product approvals since March of 2021.
- Strong third quarter performance in the base business.
- Planned full-scale commercial launch of Cortrophin Gel in early Q1 2022.
- Acquisition of Novitium Pharma LLC is expected to close in November 2021.
Challenges Ahead
- Potential delays in the approval of the Novitium acquisition by the U.S. Federal Trade Commission (FTC).
- Risk that approval for the Novitium acquisition is not obtained.
- Inability of the Company to develop a sales and marketing platform for Cortrophin Gel or delays/higher costs.
- Ability to maintain manufacturing capabilities and adequate commercial quantities of Cortrophin Gel at acceptable costs and quality levels.
- Risks related to importing raw materials and reliance on single-source suppliers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income