Recro Pharma (REPH) Tops Q2 EPS by 72c, Revenues Beat

Recro Pharma (NASDAQ: REPH) reported Q2 EPS of ($0.62), $0.72 better than the analyst estimate of ($1.34). Revenue for the quarter came in at $21.74 million versus the consensus estimate of $16.66 million.

“Our recent efforts have been focused on addressing the Complete Response Letter (CRL) received in May 2018 from the U.S. Food and Drug Administration (FDA) for the intravenous (IV) meloxicam New Drug Application,” said Gerri Henwood, President and Chief Executive Officer of Recro Pharma. “In July, a Type A meeting was held with the FDA, and we plan to provide an update on our path forward following receipt of the written meeting minutes. We remain fully committed to IV meloxicam and to addressing the significant need for new non-opioid treatment options for the management of moderate to severe pain. Our CDMO division maintained the strong performance observed in early 2018, with $21.7 million generated in revenue during the second quarter, and we reiterate our 2018 CDMO guidance.”

The Company reaffirms its 2018 CDMO guidance and believes it will generate approximately $70 million in revenue despite the anticipated unfavorable impact of the adoption of the new revenue recognition standard, and taking into consideration existing contracts and timing of customer order patterns, as well as our experience with customer’s product market estimations.

For earnings history and earnings-related data on Recro Pharma (REPH) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Optimum Communications gets NYSE non-compliance notice over stock price
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c