$ANIP Stock Up On Beat, Autoimmune Disorder Drug

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ANIP stock is up after reporting an earnings beat. The company is producing an autoimmune disorder drug called Cortrophin Gel that just received expanded FDA use.

With the growing number of autoimmune disorders, companies with autoimmune disorder solutions may have a bright future ahead.

ANI Pharmaceuticals Reports Third Quarter 2021 Results

ANI Pharmaceuticals reports Q2 non-GAAP EPS of $1.01 versus the consensus estimate of 70c. The company reports Q3 revenue of $52.1M versus the consensus estimate of $49.7M.

Third Quarter and Recent Business Highlights:

  • The U.S. Food and Drug Administration (FDA) approved the Company’s supplemental new drug application (sNDA) for Purified Cortrophin™ Gel (Repository Corticotropin Injection USP) (Cortrophin Gel) for the treatment of certain chronic autoimmune disorders, including acute exacerbations of multiple sclerosis and rheumatoid arthritis, in addition to excess urinary protein due to nephrotic syndrome.
  • The Company plans full-scale Cortrophin Gel launch in the first quarter of 2022.
  • The acquisition of Novitium Pharma LLC is expected to close in November 2021; and
  • Launched Nebivolol Tablets simultaneously from two manufacturing sites. Nebivolol is the generic version of the reference listed drug (RLD) Bystolic®.

Third Quarter 2021 Financial Highlights:

  • Net revenues were $52.1 million compared to $53.0 million in Q3 2020.
  • GAAP net loss was $4.4 million and diluted GAAP loss per share was ($0.37).
  • Adjusted non-GAAP EBITDA was $16.6 million.
  • Adjusted non-GAAP diluted earnings per share was $1.01.
  • Cash and cash equivalents were $15.3 million, net accounts receivable was $106.7 million, and face value of debt was $202.9 million as of September 30, 2021.

“The approval of Cortrophin Gel marks a critical milestone for ANI. During the past five years, we have made a significant investment in establishing and updating manufacturing processes and ensuring a sustainable, U.S.-based supply chain for this important product. Physicians now have a much-needed treatment option for patients with acute exacerbations of multiple sclerosis and rheumatoid arthritis, as well as nephrotic syndrome, who can benefit from a repository corticotropin. We have built an experienced rare disease leadership team to drive a full-scale commercial launch early in the first quarter of 2022,” said Nikhil Lalwani, President and CEO of ANI.

ANIP Stock Technical Analysis

Anip Stock

Both the short term and long term trends are positive. This is a very positive sign. Large players volume has exploded higher and we’ve had a recent Pocket Pivot (blue dot). Although ANIP has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when ANIP stock is a good entry.

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