Amphastar Pharmaceuticals, Inc. (AMPH) 10-Q Quarterly Report November 2019

RANCHO CUCAMONGA, CA – November 7, 2019 – Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) (“Amphastar” or the “Company”) today reported results for the three months ended September 30, 2019.

Third Quarter Highlights

Net revenues of $80.1 million for the third quarter

GAAP net income of $1.3 million, or $0.03 per share, for the third quarter

Adjusted non-GAAP net income of $5.2 million, or $0.10 per share, for the third quarter

Dr. Jack Zhang, Amphastar’s Chief Executive Officer, commented: “A significant accomplishment in the third quarter was the successful ramp up of our marketing efforts for Primatene® Mist. We are pleased to announce we started shipping Primatene® Mist to Walmart in October. Meanwhile, our pipeline of both generic and proprietary candidates continues to move ahead. Additionally, we recently had another complex ANDA accepted for filing.”


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
	(in thousands, except per share data)
Net revenues	$	80,137	$	75,543	$	238,974	$	204,976
GAAP net income (loss) attributable to Amphastar	$	1,310	$	2,389	$	49,965	$	(7,605)
Adjusted non-GAAP net income attributable to Amphastar*	$	5,169	$	5,721	$	14,171	$	4,168
GAAP diluted EPS attributable to Amphastar shareholders	$	0.03	$	0.05	$	1.00	$	(0.16)
Adjusted non-GAAP diluted EPS attributable to Amphastar shareholders*	$	0.10	$	0.12	$	0.28	$	0.09

The following information was filed by Amphastar Pharmaceuticals, Inc. (AMPH) on Thursday, November 7, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Amphastar Pharmaceuticals, Inc.'s 10-Q Quarterly Report:

Financial - Expense Highlight
We expect that general and administrative expenses will increase on an annual basis due to increased costs associated with ongoing compliance with public company reporting obligations and an increase in legal fees associated with patent challenges.

Financial - Expense Highlight
We expect that general and administrative expenses will increase on an annual basis due to increased costs associated with ongoing compliance with public company reporting obligations and an increase in legal fees associated with patent challenges.
Revenue - Product Highlight
The launch of Primatene Mist and an increase in sales of medroxyprogesterone and Cortrosyn, which are higher margin products, as well as the higher average selling price of enoxaparin and phytonadione, helped increase our gross margins for the nine months ended September 30, 2019.
Revenue - Product Highlight
The increase in accounts receivable was due to an increase in sales.
Financial - Expense Highlight
We expect that research and development expenses will increase on an annual basis due to increased clinical trial costs related to our biosimilar and inhalation product candidates.
Financial - Expense
We expect that research and...Read more
Financial - Expense
The increase in selling, distribution,...Read more
Financial - Expense
The increase in selling, distribution,...Read more
Revenue - Product
The decrease in sales of...Read more
Financial - Expense
The increase in general and...Read more
Financial - Earnings
The launch of Primatene? Mist,...Read more
Other - Other
Accounts payable and accrued liabilities...Read more
Revenue - Geography
The inspection included a review...Read more
Other - Other
Additionally, there was a net...Read more
Revenue - Product
Sales of isoproterenol, which we...Read more
M & A - Other
We expect our cash requirements...Read more
Revenue - Product
The increase in sales of...Read more
Revenue - Product
The increase in sales of...Read more
Revenue - Product
The increase in net revenues...Read more
Revenue - Product
The increase in sales of...Read more
Financial - Expense
The cost of heparin, which...Read more
Financial - Expense
The cost of heparin, which...Read more
Revenue - Product
Enoxaparin sales decreased due to...Read more
M & A - Other
These acquisitions collectively have strengthened...Read more
Revenue - Geography
In June 2019, we recognized...Read more
Financial - Expense
We expect that selling, distribution...Read more
Financial - Expense
We expect that selling, distribution...Read more
Revenue - Product
Other finished pharmaceutical products sales...Read more
Revenue - Product
Other finished pharmaceutical products sales...Read more
Financial - Cash Flow
We expect additional cash flows...Read more
Revenue - Product
The increase in sales of...Read more
Other - Other
The increase in inventory was...Read more
Financial - Expense
Salaries and personnel-related expenses as...Read more
Financial - Expense
Salaries and personnel-related expenses as...Read more
Other - Other
The inspection included a review...Read more
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The inspection included a review...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Amphastar Pharmaceuticals, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: AMPH
CIK: 1297184
Form Type: 10-Q Quarterly Report
Accession Number: 0001297184-19-000044
Submitted to the SEC: Fri Nov 08 2019 12:06:56 PM EST
Accepted by the SEC: Fri Nov 08 2019
Period: Monday, September 30, 2019
Industry: Pharmaceutical Preparations

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Amphastar Pharmaceuticals, Inc. (AMPH) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

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