Business
ANI Pharmaceuticals Reports First Quarter 2022 Results; Provides Purified Cortrophin® Gel Net Revenue Guidance and Full-Year 2022 Total Company Net Revenue Guidance of $295 Million to $315 Million
-- First quarter net revenues of $64.5 million, net loss of $(20.1) million and diluted GAAP loss per share of $(1.27) -- -- First quarter adjusted non-GAAP
About this update from Ani Pharmaceuticals, Inc.
[{"type":"text","content":"\n-- First quarter net revenues of $64.5 million, net loss of $(20.1) million and diluted GAAP loss per share of $(1.27) --\n\n-- First quarter adjusted non-GAAP EBITDA of $4.3 million and adjusted non-GAAP diluted loss per share of $(0.12) --\n\n-- Provides Purified Cortrophin® Gel (Cortrophin Gel) 2022 Net Revenue guidance of $35 million to $40 million, Total Company Net Revenue guidance of $295 million to $315 million and adjusted non-GAAP EBITDA guidance to $54 million to $60 million -- \n\n-- Strong physician demand for Cortrophin Gel resulting in over 250 new cases initiated from more than 125 unique prescribers coupled with expanded market access leading to over 100 million lives covered on formulary --\n\n-- With robust R&D engine in place, launched several new products, including Misoprostol Tablets, Rifabutin Capsules, and Bisoprolol Tablets; filed six new ANDA applications; retained position as market leader in Competitive Generic Therapies --\n\n-- Appointed Renee P. Tannenbaum, Pharm.D., MBA, an experienced commercial leader, to the Board of Directors --\n\n BAUDETTE, Minn.--(BUSINESS WIRE)--\nANI Pharmaceuticals, Inc. (Nasdaq: ANIP) (ANI or the Company) today announced business highlights and financial results for the three months ended March 31, 2022.\n\n“During the first quarter, we launched Cortrophin Gel, the lead asset in our Rare Disease business, and can now offer patients suffering from certain chronic autoimmune conditions a choice in ACTH therapy. We are pleased with the increasing trajectory of patients enrolled and the strong execution of our commercial team. Driven by the Cortrophin Gel launch, we are increasing our full-year net revenue guidance and continuing to invest to bring this therapy to patients in need,” said Nikhil Lalwani, President and CEO of ANI.\n\n“In this quarter, we also saw the benefits of having Novitium, a world-class R&D engine, after the acquisition was fully closed in November last year. We successfully launched several products totaling approximately $240 million in annualized sales, according to IQVIA, and a majority of these launches had fewer than three competitors. In addition, we filed six new ANDAs to further strengthen our product pipeline. Our teams also continue to make progress on synergy capture efforts across Procurement, Distribution and Operations,” concluded Lalw...