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BioDelivery (BDSI) Q4 Earnings and Revenues Beat Estimates
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BioDelivery Sciences International, Inc. recorded adjusted earnings of 6 cents per share for fourth-quarter 2019, which beat the Zacks Consensus Estimate of loss of a cent. In the year-ago quarter, the company had incurred an adjusted loss of 7 cents per share.
Revenues totaled $31.6 million, up 75.6% from the year-ago period and 4.3% sequentially. Sales also outpaced the Zacks Consensus Estimate of $31.26 million. The uptick was mainly driven by higher sales of Belbuca and the addition of Symproic tablets to its portfolio. The company added Symproic to its portfolio by acquiring U.S. commercial rights to the drug from Japan-based pharma company, Shionogi, in April 2019.
In the past year, shares of BioDelivery have declined 18.6% compared with the industry’s 16% decrease.
Quarter in Detail
BioDelivery’s marketed portfolio included Belbuca for chronic pain, Bunavail for treating opioid dependence and Symproic for opioid-induced constipation. The company announced the discontinuation of marketing of Bunavail earlier this month.
Belbuca, generated revenues of $28.3 million in the quarter, up 6.8% sequentially. On a year-over-year basis, the top line soared 78%. Sales of the drug have been witnessing a strong uptrend since 2018. Notably, the company re-acquired worldwide rights to the drug in early 2017 from Endo International .
BioDelivery recorded Belbuca prescriptions of more than 96,000 for the quarter, representing a prescription volume growth of more than 70% in the quarter. This was the highest ever year over year growth for any three-month period.
Symproic sales in the fourth quarter were $2.7 million, up 22.7% sequentially. Total Symproic prescriptions during the quarter were 16,555, which reached an all-time high and represented more than 36% growth from the prior-year period.
Sales of Bunavail, indicated for the treatment of opioid dependence, were negative $0.5 million in the fourth quarter, compared to $1.2 million in the year-ago quarter. Negative sales of the drug during the quarter were due to one-time costs related to its discontinuation.
Product Royalty revenues in the fourth quarter were $1.2 million compared with $1 million in the year-ago period.
2019 Results
BioDelivery reported total revenues of $111.4 million, up 100% year over year. Adjusted earnings for the full year were 16 cents per share against an adjusted loss of 34 cents in 2018. Belbuca sales were up 112% year over year.
BioDelivery Sciences International, Inc. Price, Consensus and EPS Surprise
Regeneron’s earnings estimates have moved up from $26.83 to $28.73 for 2020 and from $28.09 to $30.20 for 2021 in the past 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters, with the average beat being 1.44%. Share price of the company has increased 5.6% in the past year.
Vertex’s earnings estimates have moved up from $6.68 to $7.57 for 2020 and from $8.61 to $9.62 for 2021 in the past 60 days. The company delivered a positive earnings surprise in all the trailing four quarters, with the average beat being 21.76%. Share price of the company has increased 9.9% in the past year.
Zacks Top 10 Stocks for 2020
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Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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BioDelivery (BDSI) Q4 Earnings and Revenues Beat Estimates
BioDelivery Sciences International, Inc. recorded adjusted earnings of 6 cents per share for fourth-quarter 2019, which beat the Zacks Consensus Estimate of loss of a cent. In the year-ago quarter, the company had incurred an adjusted loss of 7 cents per share.
Revenues totaled $31.6 million, up 75.6% from the year-ago period and 4.3% sequentially. Sales also outpaced the Zacks Consensus Estimate of $31.26 million. The uptick was mainly driven by higher sales of Belbuca and the addition of Symproic tablets to its portfolio. The company added Symproic to its portfolio by acquiring U.S. commercial rights to the drug from Japan-based pharma company, Shionogi, in April 2019.
In the past year, shares of BioDelivery have declined 18.6% compared with the industry’s 16% decrease.
Quarter in Detail
BioDelivery’s marketed portfolio included Belbuca for chronic pain, Bunavail for treating opioid dependence and Symproic for opioid-induced constipation. The company announced the discontinuation of marketing of Bunavail earlier this month.
Belbuca, generated revenues of $28.3 million in the quarter, up 6.8% sequentially. On a year-over-year basis, the top line soared 78%. Sales of the drug have been witnessing a strong uptrend since 2018. Notably, the company re-acquired worldwide rights to the drug in early 2017 from Endo International .
BioDelivery recorded Belbuca prescriptions of more than 96,000 for the quarter, representing a prescription volume growth of more than 70% in the quarter. This was the highest ever year over year growth for any three-month period.
Symproic sales in the fourth quarter were $2.7 million, up 22.7% sequentially. Total Symproic prescriptions during the quarter were 16,555, which reached an all-time high and represented more than 36% growth from the prior-year period.
Sales of Bunavail, indicated for the treatment of opioid dependence, were negative $0.5 million in the fourth quarter, compared to $1.2 million in the year-ago quarter. Negative sales of the drug during the quarter were due to one-time costs related to its discontinuation.
Product Royalty revenues in the fourth quarter were $1.2 million compared with $1 million in the year-ago period.
2019 Results
BioDelivery reported total revenues of $111.4 million, up 100% year over year. Adjusted earnings for the full year were 16 cents per share against an adjusted loss of 34 cents in 2018. Belbuca sales were up 112% year over year.
BioDelivery Sciences International, Inc. Price, Consensus and EPS Surprise
BioDelivery Sciences International, Inc. price-consensus-eps-surprise-chart | BioDelivery Sciences International, Inc. Quote
Zacks Rank & Other Key Picks
BioDelivery currently carries a Zacks Rank #2 (Buy).
A couple of other stocks to consider from the biotech sector are Regeneron Pharmaceuticals, Inc. (REGN - Free Report) and Vertex Pharmaceuticals Incorporated (VRTX - Free Report) . While Regeneron sports a Zacks Rank #1 (Strong Buy), Vertex carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Regeneron’s earnings estimates have moved up from $26.83 to $28.73 for 2020 and from $28.09 to $30.20 for 2021 in the past 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters, with the average beat being 1.44%. Share price of the company has increased 5.6% in the past year.
Vertex’s earnings estimates have moved up from $6.68 to $7.57 for 2020 and from $8.61 to $9.62 for 2021 in the past 60 days. The company delivered a positive earnings surprise in all the trailing four quarters, with the average beat being 21.76%. Share price of the company has increased 9.9% in the past year.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>