Aralez Pharmaceuticals Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year Ending December 31, 2017; Reports Impairment Charges for the Fourth Quarter of 2016
March 13, 2017 at 04:00 pm IST
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Aralez Pharmaceuticals Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenues, net were USD 20.007 million against USD 5.966 million a year ago. Loss before income taxes was USD 31.622 million against USD 14.127 million a year ago. Net loss was USD 31.116 million against USD 13.327 million a year ago. Diluted loss per common share was USD 0.48 against USD 0.40 a year ago. Loss from operations was USD 28.205 million against USD 14.137 million a year ago.
For the year, the company reported total revenues, net were USD 54.270 million against USD 21.391 million a year ago. Loss before income taxes was USD 103.042 million against USD 37.609 million a year ago. Net loss was USD 102.978 million against USD 37.783 million a year ago. Diluted loss per common share was USD 1.74 against USD 1.16 a year ago. Loss from operations was USD 102.584 million against USD 37.466 million a year ago. Adjusted EBITDA was USD 46.744 million.
For the year ending December 31, 2017, the company expects net revenues to be in a range of USD 80 million to USD 100 million; and adjusted LBITDA to be in a range of USD 25 million to USD 10 million.
For the fourth quarter, the company reported impairment of intangible assets of USD 4.368 million.
Old API Wind-Down Ltd, formerly Aralez Pharmaceuticals Inc., is a Canada-based specialty pharmaceutical company. The Company focuses on acquiring, developing and commercializing products in cardiovascular, pain and other areas. The Company's products include Fibricor, Cambia, Fiorinal, Fiorinal C, Soriatane, Bezalip SR, NeoVisc, Uracyst, Durela, Proferrin, Resultz and Collatamp G. Its development products include YOSPRALA and Bilastine. Fibricor (fenofibric acid) is indicated as a complementary therapy along with diet for the treatment of hypertriglyceridemia, and as a complementary therapy along with diet to reduce elevated low-density lipoprotein cholesterol (LDL-C), total cholesterol (Total-C), triglycerides (TG) and apolipoprotein B (Apo B). Fibricor is also used to increase high-density lipoprotein (HDL) cholesterol (HDL-C) in patients with hypercholesterolemia or mixed dyslipidemia. Cambia (diclofenac potassium for oral solution) is a non-steroidal anti-inflammatory drug (NSAID).
Aralez Pharmaceuticals Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year Ending December 31, 2017; Reports Impairment Charges for the Fourth Quarter of 2016