Cambridge, MA-based ARIAD Pharmaceuticals, Inc. (ARIA - Free Report) 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.
ARIAD finished filing a rolling NDA for its most advanced pipeline candidate, brigatinib (lung cancer) in August and could well become a two product commercial company in 2017. The application was accepted by the FDA in October 2016. With the FDA granting priority review, a response from the agency should be out by Apr 29, 2017.
ARIAD’s performance so far has been mixed with the company missing expectations in two of the last four quarters while beating in the other two with an average positive surprise of 153.54%.
Currently, ARIAD has a Zacks Rank #2 (Buy), 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:
Loss Narrower-Than-Expected: ARIAD reported third quarter 2016 loss of 14 cents per share, narrower than our consensus estimate of a loss of 19 cents per share.
Revenues Beat: Revenues in the reported quarter surpassed expectations as well. ARIAD posted revenues of $46.0 million, compared to our consensus estimate of $41.95 million.
Key Stats: Iclusig recorded worldwide net product revenues of $34.3 million, up 25% year over year. Iclusig sales were $33.6 million in the U.S, up 66% year over year. European royalties on Iclusig sales were $4.0 million of which $3.5 million was recorded as other revenue in the quarter. ARIAD’s European rights to Iclusig are held by Incyte Corporation.
Pre-Market Trading: In-active in pre-market trading.
Check back later for our full write up on this ARIA earnings report later!
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