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BioDelivery (BDSI) Q3 Loss Wider Than Expected; Revenue Beat

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Raleigh, NC-based BioDelivery Sciences International, Inc. (BDSI - Free Report) is a specialty pharmaceutical company focused on the development and commercialization of treatments in the areas of pain management and drug addiction.

The company utilizes its novel, patented and proprietary BioErodible MucoAdhesive (BEMA) drug delivery technology for the development of products. The company’s portfolio currently consists of three FDA-approved products – Onsolis (breakthrough cancer pain in opioid-tolerant adult patients), Bunavail (opioid dependence) and Belbuca (management of pain severe enough to require daily, round-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate).

Belbuca was launched by its partner Endo International plc in Feb 2016. Meanwhile, BioDelivery is currently working on driving Bunavail sales.

In this scenario, investor focus remains on the sales ramp up of Bunavail and Belbuca and other pipeline related updates apart from the usual top-and bottom-line numbers.
BioDelivery’s performance so far has been disappointing with the company beating expectations in none of the last four quarters with an average miss of 19.59%.

Currently, BioDelivery 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: BioDelivery’s third-quarter 2016 loss of 30 cents per share is wider than consensus estimates of 26 cents per share.

Revenues: Revenues were above expectations. BioDelivery posted revenues of $3.6 million, compared to our consensus estimate of $3 million which included a one-time recording of $2.5 million for the upfront payment from Collegium Pharmaceutical for the licensing rights to Onsolis in the U.S.
Key Stats: Bunavail prescription sales were relatively unchanged from the prior quarter. The drug, however, saw a 68% increase in sales year over year. The company has strategically consolidated its sales force, which will result in total savings of approximately $20 million through the end of 2017.

BIODELIVERY SCI Price and EPS Surprise


Share Price Impact: In-active in pre-market trading.

Check back later for our full write up on this RDUS earnings report later!

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