Juniper Pharma (JNP) Tops Q3 EPS by 17c; Enters Agreement to Monetize Crinone Royalty Payments
Get Alerts JNP Hot Sheet
Join SI Premium – FREE
Juniper Pharma (NASDAQ: JNP) reported Q3 EPS of $0.02, $0.17 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $11.6 million versus the consensus estimate of $10.35 million.
Juniper also announced it has entered into an agreement with its partner, Allergan, Inc. (NYSE: AGN) to monetize future royalty payments due to Juniper for U.S. sales of Crinone (progesterone gel). Under the agreement, Juniper will receive a one-time payment of $11 million from Allergan.
"The monetization of our U.S. Crinone royalty stream significantly strengthens our balance sheet and provides non-dilutive cash to support our near-term strategic and operational goals," said Alicia Secor, Juniper's President and Chief Executive Officer.
The Company sold U.S. Crinone® rights to Allergan in July 2010; since then, Juniper has received from Allergan a 10% royalty on its U.S. Crinone® sales.
Juniper will continue as the exclusive supplier of Crinone® for all markets outside the U.S. and receive revenue from sales to Merck KGaA, Darmstadt, Germany ("Merck KGaA"). Merck KGaA holds the marketing authorization for Crinone® in over 90 countries.
Approved in the U.S. in 1997, Crinone® is indicated for supplementation or replacement as part of an Assisted Reproductive Technology (ART) treatment for infertile women with progesterone deficiency.
For earnings history and earnings-related data on Juniper Pharma (JNP) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Volcon (VLCN) Reports 2023 Operational and Financial Results
- Achieve Life Sciences (ACHV) Tops Q4 EPS by 5c
- Can-Fite BioPharma (CANF) Reports FY23 Results, Issues Clinical Update
Create E-mail Alert Related Categories
Corporate News, Earnings, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!