PDL BioPharma (PDLI) Misses Q4 EPS by 53c

PDL BioPharma (NASDAQ: PDLI) reported Q4 EPS of ($0.48), $0.53 worse than the analyst estimate of $0.05.

"We are pleased with the progress we are making on the execution of our monetization strategy and with our results for the fourth quarter and full year 2019. While we wrote down the value of certain of our assets at year end, our strong operating results are a testament to the quality and intrinsic value of our assets,\" said Dominique Monnet, president and CEO of PDL.

"Based on the strong progress made to date and through the leadership of our board of directors and the commitment of our employees, we now believe that we can either execute a whole Company sale or monetize our key assets and distribute a significant portion of the net proceeds to our stockholders by the end of 2020. Further, we are confident this plan provides the best strategy to minimize costs and to maximize net proceeds to our stockholders."

For earnings history and earnings-related data on PDL BioPharma (PDLI) click here.

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