Aralez Pharmaceuticals Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Revises Earnings Guidance for the Full Year 2017
August 09, 2017 at 04:38 pm IST
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Aralez Pharmaceuticals Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total revenues of $27,618,000 compared to $12,578,000 a year ago. Loss before income taxes was $27,038,000 compared to $17,984,000 a year ago. Net loss was $27,520,000 or $0.42 per basic and diluted common share compared to $17,475,000 or $0.27 per basic and diluted common share a year ago. Loss from operations was $20,420,000 compared to $17,121,000 a year ago. Adjusted LBITDA was $3,326,000 compared to $11,395,000 a year ago. Net product revenues of $8.8 million primarily related to the product portfolio acquired with the acquisition of Tribute as well as net product revenues from Zontivity, Yosprala and Fibricor.
For the six months, the company reported total revenues of $53,587,000 compared to $20,635,000 a year ago. Loss before income taxes was $53,963,000 compared to $51,118,000 a year ago. Net loss was $54,997,000 or $0.83 per diluted common share compared to $51,263,000 or $0.96 per diluted common share a year ago. Loss from operations was $41,103,000 compared to $54,745,000 a year ago. Adjusted LBITDA was $6,982,000 compared to $22,478,000 a year ago.
For 2017, the company now expects net revenue guidance to come in toward the upper end of previously stated range of $80 million to $100 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 Second Quarter and Six Months Ended June 30, 2017; Revises Earnings Guidance for the Full Year 2017