ANI Pharma Q2 Adj. Earnings Misses Estimates, Reiterates FY22 Guidance

(RTTNews) - ANI Pharmaceuticals, Inc. (ANIP) Monday announced a wider loss for the second quarter, despite a 52 percent surge in revenues. For the full year 2022, the company reiterated the adjusted earnings per share range, revenue guidance and raised Cortrophin revenue outlook.

The company reported a quarterly net loss available to the company of $15.33 million, wider than $14.11 million last year. On a per share basis, loss was $0.94, compared to $1.17 last year. On an adjusted basis, earnings were $0.13 per share.

On average, 3 analysts polled by Thomson Reuters expected the company to earn $0.22 per share. Analysts estimates usually exclude special items.

Revenue for the quarter spiked to $73.86 million from $48.63 million last year. The contribution from the sale of rare disease pharma products was $10.20 million compared to nill last year. Analysts expected $72.1 million.

Looking ahead to the full year 2022, the company reiterated revenue guidance in a range of $295 to $315 million. Adjusted earnings per share is projected to be between $1.34 and $1.62 per share.

Further, the company raised its rare disease asset Purified Cortrophin Gel 2022 net revenue guidance to $40 to $45 million from previous projection of $35-$40 million.