ANI Pharmaceuticals Slides After Lowering FY26 Guidance for Cortrophin Gel Revenue

Dow Jones
Aug 07
 
 

Shares of ANI Pharmaceuticals slipped after the biopharmaceutical company cut its revenue guidance for Cortrophin Gel.

The stock was down 6%, to $77.70, late Friday morning, and has fallen 1.6% since the start of the year.

Chief Executive Nikhil Lalwani said the company lowered its full-year revenue guidance for Cortrophin Gel, a treatment for inflammatory certain inflammatory conditions, to between $520 million and $540 million from $540 million to $575 million.

Lalwani added that the company reaffirmed its full-year guidance of between $1.08 billion and $1.14 billion and adjusted earnings of $9.19 to $9.69 a share. Analysts polled by FactSet are expecting adjusted earnings per share of $9.45 on revenue of $1.12 billion.

For the second quarter, the company reported net income of $24.7 million, or $1.05 a share, compared with $8.5 million, or 36 cents a share, a year earlier.

Adjusted earnings per share were $2.21. Analysts polled by FactSet expected $2.04.

Revenue rose 26%, to $266 million. Analysts polled by FactSet expected $260.1 million. Net revenues from Cortrophin Gel was $117.1 million, up about 44%, in the second quarter.

 
 

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