Aralez Pharmaceuticals Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Updates Earnings Guidance for the Year Ending December 31, 2017
May 09, 2017 at 07:00 am EDT
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Aralez Pharmaceuticals Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenues, net were USD 25,969,000 against USD 8,057,000 a year ago. Loss before income taxes was USD 26,925,000 against USD 33,134,000 a year ago. Net loss was USD 27,477,000 against USD 33,788,000 a year ago. Diluted loss per common share was USD 0.42 against USD 0.73 a year ago. Loss from operations was USD 20,683,000 against USD 37,624,000 a year ago. Adjusted LBITDA was USD 3,642,000 against USD 11,083,000 a year ago.
For the year ending December 31, 2017, the company expects net loss in the range of USD 100,900,000 to USD 79,700,000, depreciation and amortization expense is expected to be the range of USD 33,000,000 to USD 31,000,000. The company currently expects 2017 net revenues to be in a range of USD 80 million to USD 100 million; and adjusted EBITDA is expected to be the range of negative USD 5 million to positive USD 5 million.
For 2017, the company expected net loss to be USD 100,900,000 to USD 79,700,000. Income tax expense to be USD 5,000,000 to USD 2,000,000. The company's adjusted EBITDA guidance range for fiscal 2017 has been updated primarily as the result of its cost-savings plan and other profitable initiatives and is now expected to be in the range of negative USD 5 million to USD 5 million, an improvement over its previous fiscal 2017 guidance which was approximately negative USD 25 million to negative USD 10 million. Net revenue guidance for 2017 remains unchanged at USD 8,200 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 First Quarter Ended March 31, 2017; Updates Earnings Guidance for the Year Ending December 31, 2017
OLD API WIND-DOWN LTD. 