Aralez Pharma (ARLZ) Misses Q1 EPS by 2c

Aralez Pharma (NASDAQ: ARLZ) reported Q1 EPS of ($0.42), $0.02 worse than the analyst estimate of ($0.40). Revenue for the quarter came in at $26 million versus the consensus estimate of $21 million.

"We are pleased to report a solid first quarter of 2017, together with important updates to our business addressing a number of the challenges we face," said Adrian Adams, Chief Executive Officer of Aralez. "We are making a bold and significant change to our pricing strategy for Yosprala® aimed at allowing all patients to access the product for only $10.00 per month. In addition, we continue to implement our cost savings plan to further improve our cost structure and balance sheet to maximize and preserve our financial flexibility. Our updated financial guidance for 2017 reflects our commitment to reaching break-even on an Adjusted EBITDA basis this year. We also continue to opportunistically look at business development opportunities with a strong focus on value creating and transformative M&A with the goal of enhancing shareholder value."

Updates guidance:

• 2017 Net Revenues to be in a range of $80 million to $100 million; and
• Updated 2017 Adjusted EBITDA to be in a range of $(5) million to $5 million.

For earnings history and earnings-related data on Aralez Pharma (ARLZ) click here.

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