Correvio Pharma (CORV) Tops Q1 EPS by 31c, Revenues Miss

Correvio Pharma (NASDAQ: CORV) reported Q1 EPS of $0.16, $0.31 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $6.2 million versus the consensus estimate of $7.07 million.

"The first half of 2018 was marked by several important achievements, including the confirmed ability to resubmit the Brinavess® (vernakalant hydrochloride, IV) New Drug Application (NDA) to the Food and Drug Administration in the United States, completion of enrollment in the SPECTRUM study in Europe, and the closing of the acquisition by Cipher Pharmaceuticals Inc. of our Canadian commercial business," commented William Hunter, MD, CEO and President of Correvio. "On the revenue front, we continue to generate strong sales momentum. Year to date, our sales were up 16% year-over-year, but most importantly, our direct sales were up 64% year-over year. As we look ahead to the remainder of 2018, we believe we are well positioned to execute on our stated goal of providing meaningful revenue growth of 20-25% over 2017."

For earnings history and earnings-related data on Correvio Pharma (CORV) click here.

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