Aratana Therapeutics (PETX) Misses Q4 EPS by 4c

Aratana Therapeutics (NASDAQ: PETX) reported Q4 EPS of ($0.18), $0.04 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $4.9 million versus the consensus estimate of $6.2 million.

Financial Guidance As of December 31, 2018, Aratana had approximately $43.0 million in cash, cash equivalents, restricted cash and short-term investments on a debt-free basis. In the fourth quarter of 2018, the Company paid approximately $25.8 million toward outstanding indebtedness and was permanently released from all security interests, commitments and obligations under its Loan and Security Agreement.

"Due to the successful achievement of the GALLIPRANT sales milestone, we were able to repay our outstanding debt early and in full," stated Rhonda Hellums, Chief Financial Officer of Aratana Therapeutics. "In 2019, we aim to drive our commercial momentum and be prudent with our cash utilization."

In 2019, the Company expects a net decrease of cash of approximately $20.0 million to be used to support its current activities. We believe our current cash, cash equivalents, restricted cash and short-term investments will be sufficient to fund our current operating plan through at least the first quarter of 2020.

For earnings history and earnings-related data on Aratana Therapeutics (PETX) click here.

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