Amphastar Pharmaceuticals, Inc. (AMPH) 10-Q Quarterly Report November 2020

RANCHO CUCAMONGA, CA – November 6, 2020 – Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) (“Amphastar” or the “Company”) today reported results for the three months ended September 30, 2020.

Third Quarter Highlights

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Net revenues of $83.4 million for the third quarter

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GAAP net income of $3.9 million, or $0.08 per share, for the third quarter

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Adjusted non-GAAP net income of $7.6 million, or $0.15 per share, for the third quarter

Dr. Jack Zhang, Amphastar’s President and Chief Executive Officer, commented: “We once again demonstrated growth due to the continued strength of Primatene Mist^® and the re-launch of our epinephrine vial product. Additionally, we are very excited about the significant progress on our intranasal epinephrine product as this product once again illustrates our scientific and technical strengths.”


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands, except per share data)
Net revenues	$	83,431	$	80,137	$	253,925	$	238,974
GAAP net income attributable to Amphastar	$	3,919	$	1,310	$	7,676	$	49,965
Adjusted non-GAAP net income attributable to Amphastar*	$	7,629	$	5,169	$	23,622	$	14,171
GAAP diluted EPS attributable to Amphastar stockholders	$	0.08	$	0.03	$	0.16	$	1.00
Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders*	$	0.15	$	0.10	$	0.48	$	0.28

The following information was filed by Amphastar Pharmaceuticals, Inc. (AMPH) on Friday, November 6, 2020 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:

Revenue - Product Highlight
The increase in sales of Primatene Mist and the launch of epinephrine injection multiple dose vial, which are both higher-margin products, helped increase our gross margins for the nine months ended September 30, 2020.

Financial - Expense Highlight
The increase in selling, distribution, and marketing expenses was primarily due to marketing and distribution expenses related to Primatene Mist, including the cost of a national digital, television and radio marketing campaign which began in July 2019.
Financial - Expense Highlight
-35- The increase in selling, distribution, and marketing expenses was primarily due to marketing and distribution expenses related to Primatene Mist, including the cost of a national digital, television and radio marketing campaign which began in July 2019.
Other - Other Highlight
Additionally, for the nine months ended September 30, 2020, there was a net cash outflow from changes in operating assets and liabilities of $4.9 million, which resulted from an increase in accounts receivable, which was partially offset by a decrease in inventory, as well as an increase in accounts payable and accrued liabilities.
Revenue - Product Highlight
The increase in accounts receivable was due to the timing of sales.
Financial - Expense
We expect that research and...Read more
Financial - Expense
We expect that research and...Read more
Revenue - Product
Lidocaine and other finished pharmaceutical...Read more
Other - Other
Accounts payable and accrued liabilities...Read more
Other - Other
Cash Requirements and Sources We...Read more
Other - Other
Additionally, there was a net...Read more
M & A - Other
We expect our cash requirements...Read more
Financial - Expense
The cost of heparin, which...Read more
Financial - Expense
The cost of heparin, which...Read more
Revenue - Product
The increase in epinephrine was...Read more
Financial - Expense
The increase in general and...Read more
Revenue - Product
Naloxone sales decreased primarily due...Read more
Revenue - Product
-31- Three Months Ended September...Read more
Revenue - Product
Nine Months Ended September 30,...Read more
M & A - Other
These acquisitions collectively have strengthened...Read more
Revenue - Geography
-36- In June 2019, we...Read more
Revenue - Product
Additionally, sales of Primatene Mist...Read more
Revenue - Product
Additionally, sales of Primatene Mist...Read more
Revenue - Product
Epinephrine sales increased primarily due...Read more
Financial - Expense
We expect that selling, distribution...Read more
Financial - Expense
We expect that selling, distribution...Read more
Revenue - Product
Sales of enoxaparin increased during...Read more
Financial - Cash Flow
We expect additional cash flows...Read more
Other - Other
The increase in inventory was...Read more
Revenue - Product
As a result of the...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 10.1: Material Contract

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: 0001297184-20-000056
Submitted to the SEC: Fri Nov 06 2020 4:11:28 PM EST
Accepted by the SEC: Fri Nov 06 2020
Period: Wednesday, September 30, 2020
Industry: Pharmaceutical Preparations

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Amphastar Pharmaceuticals, Inc. (AMPH) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

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