Retrophin (RTRX) Misses Q2 EPS by 21c, Miss on Revenues

Retrophin (NASDAQ: RTRX) reported Q2 EPS of ($0.56), $0.21 worse than the analyst estimate of ($0.35). Revenue for the quarter came in at $41.34 million versus the consensus estimate of $43.22 million.

• In June 2018, the Company announced the initiation of enrollment for pediatric patients with pantothenate kinase-associated neurodegeneration (PKAN) in the Phase 3 FORT study of fosmetpantotenate following a scheduled clinical safety review by the independent Data Monitoring Committee (DMC); top-line data remains on-track for second half of 2019
• Patient enrollment in the Phase 3 DUPLEX Study of sparsentan in focal segmental glomerulosclerosis (FSGS) continues; top-line data from the interim efficacy analysis are expected in the second half of 2020
• Start-up activities continue in anticipation of initiating a pivotal study of sparsentan in IgA nephropathy (IgAN) during the fourth quarter of 2018
• Phase 2 proof-of-concept study evaluating CNSA-001 in phenylketonuria (PKU) is expected to commence patient dosing in the coming weeks; top-line data are expected in early 2019
• Net product sales for the second quarter of 2018 were $41.3 million, compared to $38.8 million for the same period in 2017
• Cash, cash equivalents and marketable securities, as of June 30, 2018, totaled $255.7 million

“Our sustained clinical and operational execution has further propelled us toward our goal of having three pivotal Phase 3 studies underway by the end of 2018,” said Stephen Aselage, chief executive officer of Retrophin. “In addition, with a Phase 2 proof-of-concept study of CNSA-001 in PKU nearing initiation, we believe we are entering a significant period of growth for Retrophin as our pipeline advances toward major inflection points. This progress underscores our commitment to delivering life-changing therapies to people living with rare diseases who have few or no approved treatment options.”

For earnings history and earnings-related data on Retrophin (RTRX) click here.

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