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Eagle Pharmaceuticals, Inc. (EGRX) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Eagle Pharmaceuticals, Inc.

CIK: 827871 Ticker: EGRX

Exhibit 99.1

 

GRAPHIC

 

For Immediate Release

 

Eagle Pharmaceuticals, Inc. Reports Second Quarter 2019 Results

 

— Q2 2019 net income of $0.49 per basic and $0.48 per diluted share and adjusted non-GAAP net income of $0.86 per basic and $0.84 per diluted share —

— Announced clinical development plan for its innovative fulvestrant program intended to deliver maximum estrogen receptor inhibition in patients with estrogen receptor (ER)-positive breast cancer —

— Pipeline programs advancing on track; Eagle reiterating R&D expense guidance —

 

WOODCLIFF LAKE, NJ—August 8, 2019—Eagle Pharmaceuticals, Inc. (“Eagle” or the “Company”) (Nasdaq: EGRX) today announced its financial results for the three- and six-months ended June 30, 2019. Highlights of, and subsequent to, the second quarter of 2019 include:

 

Business and Financial Highlights:

 

·                  On August 5, 2019, Eagle announced a clinical development plan, following guidance from the U.S. Food and Drug Administration (FDA), for its fulvestrant formulation, intended to deliver maximum estrogen receptor inhibition in patients with estrogen receptor (ER)-positive breast cancer:

 

·                  Eagle plans to initiate a pilot study shortly

 

·                  Once the pilot study results are reviewed, a clinical pivotal trial based upon the parameters determined with FDA will be conducted in a target patient population

 

·                  The pivotal trial is expected to be completed within approximately 12 months of commencing enrollment

 

·                  The Company’s mid- and late-stage pipeline programs are on track;

 

·                  Total revenue for the second quarter of 2019 was $56.7 million, compared to $59.3 million in the second quarter of 2018;

 

·                  Q2 2019 BELRAPZO product sales were $15.4 million, compared to $8.1 million in Q2 2018;

 

·                  Q2 2019 RYANODEX® product sales were $2.9 million, compared to $7.2 million in Q2 2018;

 

·                  Q2 2019 net income was $6.7 million, or $0.49 per basic and $0.48 per diluted share, compared to net income of $2.7 million, or $0.18 per basic and $0.17 per diluted share in Q2 2018;

 

·                  Q2 2019 adjusted non-GAAP net income was $11.8 million, or $0.86 per basic and $0.84 per diluted share, compared to adjusted non-GAAP net income of $14.7 million, or $0.99 per basic and $0.95 per diluted share in Q2 2018;

 

·                  During Q2 2019, Eagle purchased an additional $15.0 million of Eagle common stock as part of its share buyback program; since August 2016, Eagle has repurchased $168.9 million of Eagle common stock; and

 

·                  Cash and cash equivalents were $108.1 million, net accounts receivable was $60.3 million, and debt was $41.3 million as of June 30, 2019.

 


The following information was filed by Eagle Pharmaceuticals, Inc. (EGRX) on Thursday, August 8, 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

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Changes In Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Income (Unaudited)
Acquisitions
Acquisitions - Narrative, Biologics (Details)
Acquisitions (Tables)
Acquisitions - Schedule Of Consideration Transferred, Biologics (Details)
Balance Sheet Accounts
Balance Sheet Accounts - Accrued Expenses (Details)
Balance Sheet Accounts - Future Minimum Lease Payments (Details)
Balance Sheet Accounts - Lease Related Disclosures (Details)
Balance Sheet Accounts - Prepaid And Other Current Assets (Details)
Balance Sheet Accounts (Tables)
Commitments
Commitments - Future Minimum Lease Payments (Details)
Commitments (Tables)
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
Debt (Details)
Debt (Tables)
Debt - Schedule Of Debt Maturities (Details)
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 Consolidated Financial Statements
Inventories
Inventories (Details)
Inventories (Tables)
Legal Proceedings
Organization And Business Activities
Organization And Business Activities (Details)
Related Party Transaction
Related Party Transaction (Details)
Restructuring
Restructuring (Details)
Subsequent Event
Subsequent Event (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
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 - 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: 0000827871-19-000020
Submitted to the SEC: Thu Aug 08 2019 12:50:11 PM EST
Accepted by the SEC: Thu Aug 08 2019
Period: Sunday, June 30, 2019
Industry: Pharmaceutical Preparations

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