Cambridge, MA-based ARIAD Pharmaceuticals, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of breakthrough treatments for cancer. Leukemia drug, Iclusig, is the company’s sole marketed product.
ARIAD is currently working on expanding Iclusig’s label especially into earlier lines of treatment which will expand the market potential significantly.
In addition to being focused on Iclusig’s performance, investors will also be keen to know about the company’s launch plans for brigatinib - a rolling NDA submission for the candidate was initiated in the second quarter. Approval would allow ARIAD to launch the experimental cancer treatment in the U.S. in 2017.
ARIAD’s performance so far has been disappointing with the company missing expectations in three of the last four quarters with an average negative surprise of 17.41%.
Currently, ARIAD has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: ARIAD reported second quarter 2016 earnings of 57 cents per share, far better than our consensus estimate of a loss of 10 cents per share.
Revenues: Revenues in the reported quarter surpassed expectations as well. ARIAD posted revenues of $68.1 million, compared to our consensus estimate of $64.5 million.
Key Stats: Second quarter revenues were boosted by about $25.5 million of one-time revenues related to cumulative shipments of Iclusig in France that were recorded on gaining pricing and reimbursement approval in May 2016. Iclusig sales were $32.6 million in the U.S.
Pre-Market Trading: Shares were up 9.3% in pre-market trading.
Check back later for our full write up on this ARIAD earnings report later!
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ARIAD (ARIA) Swings to Earnings in Q2, Revenues Beat
Cambridge, MA-based ARIAD Pharmaceuticals, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of breakthrough treatments for cancer. Leukemia drug, Iclusig, is the company’s sole marketed product.
ARIAD is currently working on expanding Iclusig’s label especially into earlier lines of treatment which will expand the market potential significantly.
In addition to being focused on Iclusig’s performance, investors will also be keen to know about the company’s launch plans for brigatinib - a rolling NDA submission for the candidate was initiated in the second quarter. Approval would allow ARIAD to launch the experimental cancer treatment in the U.S. in 2017.
ARIAD’s performance so far has been disappointing with the company missing expectations in three of the last four quarters with an average negative surprise of 17.41%.
Currently, ARIAD has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: ARIAD reported second quarter 2016 earnings of 57 cents per share, far better than our consensus estimate of a loss of 10 cents per share.
Revenues: Revenues in the reported quarter surpassed expectations as well. ARIAD posted revenues of $68.1 million, compared to our consensus estimate of $64.5 million.
Key Stats: Second quarter revenues were boosted by about $25.5 million of one-time revenues related to cumulative shipments of Iclusig in France that were recorded on gaining pricing and reimbursement approval in May 2016. Iclusig sales were $32.6 million in the U.S.
Pre-Market Trading: Shares were up 9.3% in pre-market trading.
ARIAD PHARMA Price
ARIAD PHARMA Price | ARIAD PHARMA Quote
Check back later for our full write up on this ARIAD earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>