PLx Pharma Inc. (PLXP) Reports Q1 EPS Loss of $2.71, Revenues Beat

PLx Pharma Inc. (NASDAQ: PLXP) reported Q1 EPS of ($2.71), $2.38 worse than the analyst estimate of ($0.33). Revenue for the quarter came in at $317.56 thousand versus the consensus estimate of $100 thousand.

• Net loss attributable to common shareholders totaled $23.7 million, or ($2.71) per share, compared to net income of $5.0 million, or $0.57 per share, for the first quarter of 2018. This includes a non-cash charge of $12.8 million, or ($1.47) per share, related to the $15 million convertible preferred stock financing and a non-cash charge of $7.7 million, or ($0.88) per share as a result of a change in the fair value of the warrant liability; whereas the first quarter of 2018 included income of $8.4 million, or $0.97 per share, related to the change in warrant liability;
• Submitted a meeting briefing package to the U.S. Food and Drug Administration (FDA) for Vazalore;
• Participated in the American College of Cardiology (ACC) and American Academy of Neurology (AAN) conferences to articulate the value proposition and build awareness with the clinical community around the unique benefits of Vazalore;
• Attended the annual National Association of Chain Drug Stores (NACDS) conference, a prestigious gathering of influential retail leaders, and met with key retailers to discuss the Vazalore opportunity; and
• Remain on schedule for the commercial launch of Vazalore in mid-2020.

“As we prepare for our commercial launch next year, we continue to focus on engaging with specialists in the cardiology and neurology communities and broadening awareness of Vazalore’s unique efficacy, reliability and safety profile. Our market research among physicians and consumers is very encouraging, underscoring the need for a better aspirin therapy. We look forward to advancing our dialogue with the FDA and preparing for a successful launch in 2020,” said Natasha Giordano, President and Chief Executive Officer of PLx Pharma.

For earnings history and earnings-related data on PLx Pharma Inc. (PLXP) click here.

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