Amphastar Pharmaceuticals, Inc. (AMPH) 10-Q Quarterly Report May 2022

RANCHO CUCAMONGA, CA – May 9, 2022 – Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) (“Amphastar” or the “Company”) today reported results for the three months ended March 31, 2022.

First Quarter Highlights

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Net revenues of $120.4 million for the first quarter

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GAAP net income of $24.3 million, or $0.47 per share, for the first quarter

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Adjusted non-GAAP net income of $24.6 million, or $0.47 per share, for the first quarter

Dr. Jack Zhang, Amphastar’s President and Chief Executive Officer, commented: “The first quarter continued where 2021 ended, with strong sales of our recently launched products, which confirms our strategy focused on complex products with commercial strength. We are optimistic that our growth trend will continue in 2022.”


	Three Months Ended
	March 31,
	2022		2021

	(in thousands, except per share data)
Net revenues	$	120,368	$	103,020
GAAP net income attributable to Amphastar	$	24,253	$	5,041
Adjusted non-GAAP net income attributable to Amphastar*	$	24,586	$	13,553
GAAP diluted EPS attributable to Amphastar stockholders	$	0.47	$	0.10
Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders*	$	0.47	$	0.27

The following information was filed by Amphastar Pharmaceuticals, Inc. (AMPH) on Monday, May 9, 2022 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 glucagon, which are higher-margin products, helped increase our gross margins for the three months ended March 31, 2022.

Other - Other Highlight
Additionally, for the three months ended March 31, 2021, there was a net cash inflow from changes in operating assets and liabilities of $7.4 million, which resulted from an increase in accounts payable and accrued liabilities which was partially offset by an increase in accounts receivable.
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.
Revenue - Product Highlight
The increase in accounts receivable was due to both increases in sales and the timing of sales.
Other - Other Highlight
Additionally, for the three months ended March 31, 2022, there was a net cash inflow from changes in operating assets and liabilities of $17.0 million, which resulted from an increase in accounts payable and accrued liabilities, as well as a decrease in accounts receivable.
Financial - Expense
This was partially offset by...Read more
Other - Other
Cash Requirements and Sources We...Read more
Financial - Earnings
These increases in gross margins...Read more
M & A - Other
We expect our cash requirements...Read more
Financial - Expense
Some clinical trials experienced increased...Read more
Financial - Expense
-29- Additionally, some clinical trials...Read more
Revenue - Product
Sales of enoxaparin decreased primarily...Read more
Revenue - Product
The increase in sales of...Read more
Financial - Expense
The increase in selling, distribution...Read more
M & A - Other
These acquisitions collectively have strengthened...Read more
Revenue - Product
The increase in other finished...Read more
Financial - Expense
We expect that selling, distribution...Read more
Revenue - Product
The increase in sales of...Read more
Revenue - Product
The increase in sales of...Read more
Financial - Cash Flow
We expect additional cash flows...Read more
Financial - Expense
The increase in research and...Read more
Revenue - Product
However, we believe that this...Read more
Revenue - Product
The remaining $1.0 million of...Read more
Revenue - Product
The increase in sales of...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: 0001297184-22-000029
Submitted to the SEC: Mon May 09 2022 6:04:57 PM EST
Accepted by the SEC: Tue May 10 2022
Period: Thursday, March 31, 2022
Industry: Pharmaceutical Preparations

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Amphastar Pharmaceuticals, Inc. (AMPH) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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