Recro Pharma (REPH) Tops Q3 EPS by 6c, Revenues Beat; Raises 2018 CDMO Guidance

Recro Pharma (NASDAQ: REPH) reported Q3 EPS of ($0.64), $0.06 better than the analyst estimate of ($0.70). Revenue for the quarter came in at $18.28 million versus the consensus estimate of $16.73 million.

“With the PDUFA goal date now set for March 24, 2019, we are focusing our resources and efforts on preparing for our first potential product launch during the first half of 2019,” said Gerri Henwood, President and Chief Executive Officer of Recro Pharma. “We are committed to successfully launching IV meloxicam, pending approval, and post-approval, raising physician awareness and use of this new, non-opioid alternative for the management of moderate to severe pain.”

“In parallel, our revenue-generating CDMO division continues to exceed expectations, with $18.3 million in revenue generated during the third quarter. We are increasing our 2018 CDMO guidance and currently believe we will generate approximately $75 million in revenue. With the recent facility expansion, we significantly enhanced our development and high potency product services.”

Outlook

The Company is increasing its 2018 CDMO guidance and currently believes it will generate approximately $75 million in revenue 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.

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