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Eagle Pharmaceuticals, Inc. (EGRX) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Eagle Pharmaceuticals, Inc.

CIK: 827871 Ticker: EGRX

Exhibit 99.1

 

 

For Immediate Release

 

Eagle Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2018 Results

 

— Q4 2018 net income was $0.88 per basic and $0.86 per diluted share and adjusted non-GAAP net income was $1.23 per basic and $1.20 per diluted share —

 

— FY 2018 net income was $2.16 per basic and $2.09 per diluted share and adjusted non-GAAP net income was $4.01 per basic and $3.87 per diluted share —

 

WOODCLIFF LAKE, NJ—February 28, 2019—Eagle Pharmaceuticals, Inc. (“Eagle” or the “Company”) (Nasdaq: EGRX) today announced its financial results for the three months and full year ended December 31, 2018. Highlights of, and subsequent to, the fourth quarter of 2018 include:

 

Business and Recent Highlights:

 

·                  Commenced enrollment in a study to evaluate the neuroprotective effects of RYANODEX® (dantrolene sodium) in collaboration with the United States Army Medical Research Institute of Chemical Defense (“USAMRICD”), the nation’s leading science and technology laboratory in the area of medical chemical countermeasures research and development;

·                  Announced positive results of pre-clinical study conducted to evaluate effects of RYANODEX in Acute Radiation Syndrome (“ARS”);

·                  On February 20, 2019, the FDA issued a decision in favor of Eagle regarding the scope of BENDEKA’s Orphan Drug Exclusivity (“ODE”), further protecting the longevity of the BENDEKA franchise; and

·                  Executed a $50.0 million accelerated share repurchase (“ASR”) as part of our $150.0 million share repurchase program (the “Share Repurchase Program”).

 

Financial Highlights:

 

Fourth Quarter 2018

 

·                  Total revenue for the fourth quarter of 2018 was $56.1 million, compared to $46.8 million in the fourth quarter of 2017;

·                  Q4 2018 bendamustine hydrochloride 500ml solution (“Big Bag” or “BELRAPZO”) product sales were $6.8 million; in February of 2019, the Company achieved peak market share of 10%, according to IQVIA Holdings Inc.;

·                  Q4 2018 RYANODEX product sales were $5.1 million, up 10% compared to Q4 2017;

·                  Q4 2018 net income was $12.6 million, or $0.88 per basic and $0.86 per diluted share, compared to net income of $9.1 million, or $0.61 per basic and $0.58 per diluted share in Q4 2017;

 


The following information was filed by Eagle Pharmaceuticals, Inc. (EGRX) on Thursday, February 28, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Eagle Pharmaceuticals, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity (Deficit)
Consolidated Statements Of Operations
Acquisitions
Acquisitions - Narrative (Details)
Acquisitions (Tables)
Acquisitions - Schedule Of Consideration Transferred, Biologics (Details)
Acquisitions - Schedule Of Contingent Consideration Fair Value, Docetaxel (Details)
Acquisitions - Schedule Of Contingent Consideration, Biologic (Details)
Asset Sales
Asset Sales (Details)
Balance Sheet Accounts
Balance Sheet Accounts (Tables)
Balance Sheet Accounts - Accrued Expenses (Details)
Balance Sheet Accounts - Prepaid And Other Current Assets (Details)
Commitments
Commitments (Tables)
Commitments - Future Minimum Lease Payments (Details)
Common Stock And Stock-Based Compensation
Common Stock And Stock-Based Compensation (Tables)
Common Stock And Stock-Based Compensation - Fair Value Of Share Options Granted (Details)
Common Stock And Stock-Based Compensation - Narrative (Details)
Common Stock And Stock-Based Compensation - Schedule Of Common Stock Repurchase (Details)
Common Stock And Stock-Based Compensation - Schedule Of Restricted And Phantom Stock Unit Activity (Details)
Common Stock And Stock-Based Compensation - Schedule Of Share-Based Compensation Cost (Details)
Common Stock And Stock-Based Compensation - Share-Based Compensation, Options (Details)
Debt
Debt (Details)
Debt (Tables)
Debt - Schedule Of Debt Maturities (Details)
Income Taxes
Income Taxes - Narrative (Details)
Income Taxes (Tables)
Income Taxes - Deferred Income Taxes (Details)
Income Taxes - Reconciliation (Details)
Income Taxes - Schedule Of Income Tax (Benefit) Expense (Details)
Intangible Assets, Net
Intangible Assets, Net - Schedule Of Intangible Assets (Details)
Intangible Assets, Net (Tables)
Intangible Assets, Net - Narrative (Details)
Intangible Assets, Net - Schedule Of Future Amortization Expense (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Legal Proceedings
License Agreements Of Development And Commercialization Rights
License Agreements Of Development And Commercialization Rights (Details)
Organization And Business
Organization And Business (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Related Party Transaction
Related Party Transaction (Details)
Restructuring
Restructuring - Narrative (Details)
Selected Quarterly Financial Data - Unaudited
Selected Quarterly Financial Data - Unaudited (Details)
Selected Quarterly Financial Data - Unaudited (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Common Shares Equivalents Outstanding (Details)
Summary Of Significant Accounting Policies - Earnings Per Share (Details)
Summary Of Significant Accounting Policies - Major Customers As A Percentage (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Ticker: EGRX
CIK: 827871
Form Type: 10-K Annual Report
Accession Number: 0000827871-19-000008
Submitted to the SEC: Thu Feb 28 2019 12:12:36 PM EST
Accepted by the SEC: Thu Feb 28 2019
Period: Monday, December 31, 2018
Industry: Pharmaceutical Preparations

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