Business
ANI Pharmaceuticals Reports Record Fourth Quarter Financial Results and Achieves Full Year 2022 Revenue Milestone; Initiates 2023 Guidance
Fourth Quarter and Full Year 2022 Financial Results -- Q4 net revenues of $94.2 million, net loss available to common shareholders of $(4.7) million and
About this update from Ani Pharmaceuticals, Inc.
[{"type":"text","content":"\nFourth Quarter and Full Year 2022 Financial Results\n\n-- Q4 net revenues of $94.2 million, net loss available to common shareholders of $(4.7) million and diluted GAAP loss per share of $(0.28) –\n\n-- Q4 Adjusted non-GAAP EBITDA of $23.3 million and adjusted non-GAAP diluted earnings per share of $0.76 --\n\n-- Q4 net revenue growth of 54.7% and record quarterly net revenues --\n\n-- Full year 2022 net revenues of $316.4 million, net loss available to common shareholders of $49.5 million, diluted GAAP loss per share of ($3.05) –\n\n-- Full year 2022 adjusted non-GAAP EBITDA of $55.9 million and adjusted non-GAAP diluted earnings per share of $1.36 --\n\n-- Lead Rare Disease asset, Purified Cortrophin® Gel (Repository Corticotrophin Injection USP) 80 U/ml (Cortrophin) full-year 2022 net sales of $41.7 million --\n\nFull Year 2023 Guidance\n\n-- Initiates total Company net revenue guidance of $360 million to $385 million; adjusted non-GAAP EBITDA guidance of $78 million to $88 million; adjusted non-GAAP earnings per share of $2.09 to $2.59 --\n\n-- Initiates Purified Cortrophin Gel Revenue Guidance at $80 million to $90 million (representing 92% - 116% growth); Cortrophin SG&A increase estimated at ~10% including modest sales force expansion\n\nCompany Highlights\n\n-- Continued strength of Cortrophin Gel launch, with more than 1,120 cases initiated by more than 510 unique prescribers; ACTH market showing year-on-year growth for eight consecutive months according to IQVIA --\n\n-- Launched several limited-competition new generics; retained top 10 ranking for new ANDA approvals and second ranking for Competitive Generic Therapy approvals --\n\n-- Consolidation of manufacturing network on track with manufacturing operations concluded at Oakville site in January 2023 --\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 and 12 months ended December 31, 2022.\n\n“2022 was a transformative year for ANI, taking us past critical inflection points for our two key growth drivers – the launch of Cortrophin Gel, our foundational Rare Disease asset, and investment in our generics business. Over the course of the past year, we built a strong Rare Disease platform to support Cortrophin Gel, which also creates the opport...