Retrophin (RTRX) Tops Q3 EPS by 20c, Revenues Miss

Retrophin (NASDAQ: RTRX) reported Q3 EPS of ($0.85), $0.20 better than the analyst estimate of ($1.05). Revenue for the quarter came in at $44.37 million versus the consensus estimate of $45.3 million.

Enrollment in the pivotal Phase 3 DUPLEX Study of sparsentan in focal segmental glomerulosclerosis (FSGS) remains on track to enable topline data from the 36-week proteinuria analysis in the first half of 2021
The pivotal Phase 3 PROTECT Study of sparsentan continues to enroll patients with IgA nephropathy (IgAN) and is on schedule to deliver topline data from the 36-week proteinuria analysis in the first half of 2022
Peter Heerma appointed chief commercial officer; Mr. Heerma brings more than 20 years of global experience launching best-in-class therapies, managing pipeline and on-market product portfolios, and leading commercial and cross-functional teams
Net product sales for the third quarter of 2019 were $44.4 million, compared to $40.7 million for the same period in 2018
Cash, cash equivalents and marketable securities, as of September 30, 2019, totaled $407.0 million

“In the third quarter our team delivered a strong performance with continued enrollment of our two pivotal studies of sparsentan, and a well-executed start to the THIOLA® EC launch, underscoring our commercial team’s capabilities and our commitment to serving patients living with rare disease,” said Eric Dube, Ph.D., chief executive officer of Retrophin. “We also recently announced the appointment of Peter Heerma as our first chief commercial officer. Peter’s extensive experience in nephrology and depth in developing successful commercialization strategies in the U.S. and Europe will be instrumental as we focus on maximizing sparsentan’s future potential to become a new treatment standard in rare kidney disorders and continuing the organic growth of our commercial portfolio.”

For earnings history and earnings-related data on Retrophin (RTRX) click here.

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