ANI Pharmaceuticals Q4 2019 Earnings Report
Key Takeaways
ANI Pharmaceuticals reported a net loss of $4.8 million for Q4 2019, driven by Cortrophin pre-launch commercial inventories and inventory reserve charges. Adjusted non-GAAP diluted earnings per share was $1.08. The company is on track to submit its Cortrophin® Gel sNDA to the FDA in March 2020.
Net revenues from generic pharmaceuticals decreased 14% to $29.1 million.
Net revenues from branded pharmaceuticals decreased 17% to $15.6 million.
Contract manufacturing revenues decreased 28% to $2.6 million.
Net loss was $4.8 million, with a diluted loss per share of $0.41.
ANI Pharmaceuticals
ANI Pharmaceuticals
ANI Pharmaceuticals Revenue by Segment
Forward Guidance
For the twelve months ending December 31, 2020, ANI is providing guidance on net revenue, adjusted non-GAAP EBITDA, and adjusted non-GAAP diluted earnings per share. We expect that adjusted non-GAAP gross margin will decline from approximately 71% in 2019 to the mid 60% range in 2020, driven by the impact of negative price and product mix.
Revenue & Expenses
Visualization of income flow from segment revenue to net income