Aralez Pharmaceuticals Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Revises Revenue Guidance for the Full Year Ending December 31, 2016
November 07, 2016 at 12:15 pm
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Aralez Pharmaceuticals Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total revenue of $13,628,000 compared to $5,820,000 a year ago. Net loss before taxes was $20,302,000 compared to $8,176,000 a year ago. Net loss was $20,599,000 or $0.32 per diluted common share compared to $8,149,000 or $0.25 per diluted common share a year ago. Loss from operations was $19,634,000 against $8,193,000 a year ago.
For the nine months, total revenue was $34,263,000 compared to $15,425,000 in last year. Net loss before taxes was $71,420,000 compared to $23,483,000 a year ago. Net loss was $71,862,000 or $1.26 per diluted common share compared to $24,457,000 or $0.75 per diluted common share a year ago. Loss from operations was $74,379,000 against $23,329,000 a year ago.
For the year ending December 31, 2016, the company now expects net revenues in the range of $54 million to $62 million. The company previously expected net revenues in the range of $48 million to $58 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. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Revises Revenue Guidance for the Full Year Ending December 31, 2016