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Eagle Pharmaceuticals, Inc. (EGRX) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Eagle Pharmaceuticals, Inc.

CIK: 827871 Ticker: EGRX

Exhibit 99.1

 

 

For Immediate Release

 

Eagle Pharmaceuticals, Inc. Reports First Quarter 2019 Results

 

— Q1 2019 net income of $0.64 per basic and $0.62 per diluted share and adjusted non-GAAP net income of $1.05 per basic and $1.01 per diluted share —

— Revised licensing agreement for BENDEKA® extends term of contract and increases royalty rate to 32% in 2021 —

— CMS issues unique J-code for BELRAPZO™ (500mL infusion bendamustine solution) —

— Announced statistically significant neuroprotective effects of RYANODEX® in a well-established nerve agent model —

 

WOODCLIFF LAKE, NJ—May 7, 2019—Eagle Pharmaceuticals, Inc. (“Eagle” or the “Company”) (Nasdaq: EGRX) today announced its financial results for the three months ended March 31, 2019. Highlights of, and subsequent to, the first quarter of 2019 include:

 

Business and Recent Highlights:

 

·                  Completed a successful study to evaluate the neuroprotective effects of RYANODEX® (dantrolene sodium) for the treatment of nerve agent exposure:

·                  Conducted 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;

·                  The Company plans to meet with the U.S. Food and Drug Administration (FDA) as soon as possible;

·                  Announced a revised licensing agreement for BENDEKA that extends the term of the agreement until the product is no longer sold and increases Eagle’s royalty rate from 25% to 30% in October 2019 and by 1% annually until it reaches 32%;

·                  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

·                  The Centers for Medicare and Medicaid Services (CMS) established a unique, product specific, billing code (J-code: J9036) effective July 1, 2019, for BELRAPZO, the brand name under which Eagle’s currently marketed 500mL infusion bendamustine solution will be sold beginning June 3, 2019.

 

Financial Highlights:

 

·                  Total revenue for the first quarter of 2019 was $49.8 million, compared to $46.6 million in the first quarter of 2018;

·                  Q1 2019 bendamustine hydrochloride 500ml solution (“Big Bag” or “BELRAPZO”) product sales were $3.2 million;

·                  Q1 2019 RYANODEX product sales were $4.0 million, compared to $4.4 million in Q1 2018;

 


The following information was filed by Eagle Pharmaceuticals, Inc. (EGRX) on Tuesday, May 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 Eagle Pharmaceuticals, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Staements Of Income (Unaudited)
Condensed Consolidated Statement Of Changes In Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative, Bioligics (Details)
Acquisitions - Schedule Of Consideration Transferred, Biologics (Details)
Balance Sheet Accounts
Balance Sheet Accounts (Tables)
Balance Sheet Accounts - Accrued Expenses (Details)
Balance Sheet Accounts - Prepaid And Other Current Assets (Details)
Balance Sheet Accounts Balance Sheet Accounts - Future Minimum Lease Payments (Details)
Balance Sheet Accounts Balance Sheet Accounts - Lease Related Disclosures (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 Stock Options Granted (Details)
Common Stock And Stock-Based Compensation - Narrative (Details)
Common Stock And Stock-Based Compensation - Schedule Of Share-Based Compensation (Details)
Common Stock And Stock-Based Compensation - Summary Of Stock Options, Rsu And Psu Activity (Details)
Debt - Schedule Of Debt Maturities (Details)
Debt Debt
Debt Debt (Details)
Debt Debt (Tables)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Intangible Assets, Net
Intangible Assets, Net (Tables)
Intangible Assets, Net - Schedule Of Future Amortization Expense (Details)
Intangible Assets, Net - Schedule Of Intangible Assets (Details)
Interim Condensed Financial Statements
Inventories (Details)
Inventories (Tables)
Inventory
Legal Proceedings
Organization And Business Activities
Organization And Business Activities (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Anti-Dilutive Common Shares Equivalents Outstanding (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Revenue And Accounts Receivable By Major Customer (Details)
Summary Of Significant Accounting Policies - Schedule Of Basic And Diluted Net Income (Details)

Material Contracts, Statements, Certifications & more

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

Ticker: EGRX
CIK: 827871
Form Type: 10-Q Quarterly Report
Accession Number: 0000827871-19-000013
Submitted to the SEC: Tue May 07 2019 1:06:39 PM EST
Accepted by the SEC: Tue May 07 2019
Period: Sunday, March 31, 2019
Industry: Pharmaceutical Preparations

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