AMAG Pharma (AMAG) Incurs Loss In Q1, Revenues Rise Y/Y
Zacks Investment Research | May 02, 2017 11:11PM ET
AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) reported adjusted earnings of 99 cents per share in the first quarter of 2017 compared with earnings of 68 cents in the year-ago quarter. Adjusted earnings exclude a one-time payment of $60 million for the acquisition of exclusive U.S. rights to develop and commercialize Palatin Technologies, Inc.’s (NYSE:PTN) HSDD drug, Rekynda. A new drug application for Rekynda is expected to be filed in early 2018
However, including one-time and special items, reported loss was $1.06 per share in the first quarter of 2017 compared with loss of 22 cents in the year-ago quarter. The Zacks Consensus Estimate was of earnings of 9 cents per share.
The company’s quarterly revenues came in at $139.5 million, up approximately 27.6% from the year-ago quarter figure of $109.3 million. The upside was driven by impressive growth in net sales of Makena. However, revenues missed the Zacks Consensus Estimate.
AMAG’s share price has decreased 38.4% year to date against the Zacks classified Zacks Investment Research
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