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Antares Pharma, Inc. (ATRS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

Antares Pharma, Inc.

CIK: 1016169 Ticker: ATRS

EX 99.1

      

 

  

 

 

 

 

ANTARES PHARMA REPORTS FIRST QUARTER 2020 OPERATING AND FINANCIAL RESULTS

 

 

First Quarter 2020 Revenue $33.1 Million, a 42% Increase Compared to First Quarter 2019

 

 

Generated $5.6 Million in Cash from Operations during the First Quarter 2020

 

 

EWING, NJ, May 5, 2020 –

Antares Pharma, Inc. (NASDAQ: ATRS) (“the Company”), today reported operating and financial results for the first quarter ended March 31, 2020 with record first quarter revenue of $33.1 million and a net loss per share of $0.01.

 

“Our first quarter revenue performance underscores the strength of our commercial and operations organizations at a time when COVID-19 impacted the global economy and our business during the last month of the quarter. XYOSTED recorded another quarter of double-digit prescription growth over the prior quarter driven once again by a significant increase in both patients and prescribers.  We continue to believe XYOSTED represents the most effective option for treating low testosterone in hypogonadal men, especially in an at-home treatment setting.  On the partnered product front where we provide devices, Teva achieved a thirteen percent increase in generic epipen prescriptions in the first quarter of 2020 versus the fourth quarter of 2019 and importantly achieved a seven percent increase in market share over the same period,” said Robert F. Apple, President and Chief Executive Officer of the Company.  “With respect to the COVID-19 pandemic, we continue to monitor this global health crisis as it relates to our ongoing operations, and we have taken various steps to potentially reduce the impact of the pandemic on our business.  Antares is focused on helping to ensure patients continue to have access to our medicines while protecting the health and well-being of both our employees and our customers.  At this time, while we have seen a softening in new patient starts for our products, it is difficult to predict the full financial impact on our business given the current economic slowdown and uncertainty surrounding the duration of the pandemic.  However, we believe the Company is in a strong financial position, allowing us to navigate through these unprecedented times while continuing to execute on our key strategic objectives supporting long-term growth.”

 

First Quarter 2020 and Recent Highlights

 

 

Reported first quarter total 2020 revenue of $33.1 million, an increase of 42% compared to the same period last year.  Proprietary product revenue increased 163% to $12.6 million as compared to the $4.8 million reported in the first quarter of 2019.  Partnered product revenue increased 7.4% to $14.5 million compared to $13.5 million in the first quarter of 2019.

 

 

XYOSTED® total prescriptions increased 18% sequentially versus the fourth quarter of 2019.  To date, more than one hundred thousand prescriptions of XYOSTED® have been written by approximately fifty three hundred different physicians.

 

 

Reported first quarter 2020 loss per share of $0.01 as compared to a $0.03 loss per share reported in the comparable period last year.

 

 

Generated $5.6 million in cash from operating activities during the first quarter of 2020. Our total cash, cash equivalents and short-term investments increased to $50.3 million at March 31, 2020, compared to $45.7 million at December 31, 2019.

 

 


The following information was filed by Antares Pharma, Inc. (ATRS) on Tuesday, May 5, 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 Antares Pharma, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Consolidated Statements Of Comprehensive Loss (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Policies)
Basis Of Presentation And Significant Accounting Policies (Tables)
Basis Of Presentation And Significant Accounting Policies - Additional Information (Detail)
Basis Of Presentation And Significant Accounting Policies - Inventories (Detail)
Commitments And Contingencies
Description Of Business
Loss Per Share
Loss Per Share - Additional Information (Detail)
Revenues, Significant Customers And Concentrations Of Risk
Revenues, Significant Customers And Concentrations Of Risk (Tables)
Revenues, Significant Customers And Concentrations Of Risk - Summary Of Revenue Disaggregated By Types Of Goods And Services And Major Product (Detail)
Revenues, Significant Customers And Concentrations Of Risk - Summary Of Revenues Disaggregated By Customer Location (Detail)
Revenues, Significant Customers And Concentrations Of Risk - Summary Of Significant Customers From Which The Company Derived 10% Or More Of Total Revenue (Detail)
Share Based Compensation
Share Based Compensation (Tables)
Share Based Compensation - Additional Information (Detail)
Share Based Compensation - Summary Of Psu And Rsu Award Activity Under Plan (Detail)
Share Based Compensation - Summary Of Share Based Compensation Allocation Expense (Detail)
Share Based Compensation - Summary Of Stock Option Activity (Detail)

Material Contracts, Statements, Certifications & more

Antares Pharma, Inc. provided additional information to their SEC Filing as exhibits

Ticker: ATRS
CIK: 1016169
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-021313
Submitted to the SEC: Tue May 05 2020 4:43:57 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: Surgical And Medical Instruments And Apparatus

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