Valeritas Reports Record Second Quarter Revenue with 36% Year-over-Year Growth

- Company’s Fourth Consecutive Quarter of Record Revenue and Third Consecutive Quarter with Year-Over-Year Revenue Growth Exceeding 20% -

BRIDGEWATER, New Jersey, August 7, 2018 --- Valeritas Holdings, Inc. (NASDAQ:
VLRX), a medical technology company and maker of V-Go® Wearable Insulin Delivery device, a simple, affordable, all-in-one, insulin delivery option that is worn like a patch for patients with diabetes, announced today financial results for the second quarter ended June 30, 2018.

Second Quarter 2018 Highlights:

Revenues in the second quarter grew 36% year-over-year to $6.5 million;

Total and new prescriptions for the second quarter in the Company’s targeted accounts grew 22% and 18% year-over-year, respectively.

Gross margin increased to 47.6% during the second quarter of 2018, an increase of nearly 10 percentage points compared to 37.7% in the second quarter of 2017.

Signed exclusive agreements for the distribution of V-Go in Austria and Germany.

Presented additional strong data demonstrating the effectiveness and economic benefits of V-Go for people with type 2 diabetes at several major scientific meetings.

V-Go was added to the Cigna HealthSpring Part D Plan

“We believe V-Go has the potential to one day become the insulin delivery method of choice for millions of patients with type 2 diabetes and that the revenue potential for Valeritas is substantial,” said John Timberlake, President and Chief Executive Officer. “Studies continue to show that patients with type 2 diabetes who switched from insulin pens and syringes to V-Go not only significantly lowered their blood glucose, but did so with less insulin. Our record second quarter revenue demonstrates the continued momentum of both awareness and adoption of V-Go among prescribing physicians as well as patients with type 2 diabetes”.

Second Quarter 2018 Financial Highlights

Total revenue for the second quarter of 2018 was $6.5 million, a 36% increase from the second quarter of 2017 and a 7% sequential increase from the first quarter of 2018.

The increase in the Company’s revenue was driven by strong prescription growth in the Company’s targeted territories. For the second quarter, total and new prescriptions in targeted accounts grew 22% and 18% year-over-year, respectively. The Company also experienced 8% year-over-year growth in new prescriptions and 5% sequential growth in total prescriptions in accounts that were not targeted by its sales representatives, which we believe demonstrates the success of the Company’s cost-effective strategy of using a third-party inside sales team and contracted in-service visits.

The following information was filed by Valeritas Holdings Inc. (VLRX) on Tuesday, August 7, 2018 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.

View differences made from one quarter to another to evaluate Valeritas Holdings Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Valeritas Holdings Inc..


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019) Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019) Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account