Medicines Co. (MDCO) Misses Q3 EPS by 12c

Medicines Co. (NASDAQ: MDCO) reported Q3 EPS of ($0.92), $0.12 worse than the analyst estimate of ($0.80).

• On a GAAP basis, loss from continuing operations in the third quarter of 2019 was $74.0 million, or $0.92 per share, compared to a loss of $51.6 million, or $0.70 per share, in the third quarter of 2018.
• On a non-GAAP basis, adjusted loss1 from continuing operations in the third quarter of 2019 was $58.1 million, or $0.72 1 per share, compared to a loss of $51.5 million, or $0.70 1 per share, in the third quarter of 2018.
• At September 30, 2019, the company had $265.9 million in cash and cash equivalents, compared to $238.3 million at the end of 2018.

“Flawless execution defined our performance in the third quarter, as outstanding progress for our pivotal Phase 3 clinical trials moves us closer to our goal of realizing the intrinsic value of inclisiran,” said Mark Timney, Chief Executive Officer of The Medicines Company. “Clinical data confirm inclisiran’s highly differentiated profile and reinforce its potential to transform the treatment of cardiovascular disease for millions of patients with significant unmet needs.”

For earnings history and earnings-related data on Medicines Co. (MDCO) click here.

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