Ani Pharmaceuticals ( (ANIP) ) has released its Q3 earnings. Here is a breakdown of the information Ani Pharmaceuticals presented to its investors.
Don't Miss out on Research Tools:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
ANI Pharmaceuticals, Inc., a diversified biopharmaceutical company, focuses on developing, manufacturing, and commercializing therapeutics primarily in the Rare Disease and Generics sectors, with a commitment to improving patient lives.
In its latest earnings report, ANI Pharmaceuticals announced record third-quarter 2024 financial results, driven by significant growth in net revenues and the strategic acquisition of Alimera Sciences. The company also raised its full-year 2024 guidance, reflecting strong business momentum.
Key highlights from ANI’s report include record quarterly net revenues of $148.3 million, up 12.5% year-over-year, with the Purified Cortrophin® Gel contributing $52.6 million, a 76.8% increase. The acquisition of Alimera Sciences expanded ANI’s Rare Disease portfolio with ILUVIEN® and YUTIQ®, expected to generate substantial revenues. Despite a net loss of $24.2 million, ANI’s adjusted non-GAAP EBITDA was $35.1 million, showcasing the company’s operational efficiency.
The generics business also saw growth, with revenues increasing by 10.8% year-over-year, bolstered by strong R&D capabilities and new product launches. The revised 2024 guidance projects net revenues between $594 million and $602 million, with adjusted non-GAAP EBITDA ranging from $149 million to $153 million, demonstrating confidence in continued growth.
Looking ahead, ANI Pharmaceuticals remains optimistic about its growth prospects, with plans to build upon its recent achievements and strategic acquisitions to further expand its market presence and drive long-term shareholder value.
