Neos Therapeutics (NEOS) Misses Q1 EPS by 7c, Slight Miss on Revenues

May 11, 2020 5:19 PM EDT

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Neos Therapeutics (NASDAQ: NEOS) reported Q1 EPS of ($0.16), $0.07 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $14.49 million versus the consensus estimate of $14.55 million.

“Since late 2018, we have been steadfast in taking action to better position Neos for long-term profitability and growth. Today, we have made the difficult but necessary decision to reduce headcount across the organization to streamline costs and further strengthen our long-term outlook as we adjust to a rapidly changing economic environment and the recent impact on our business as a result of the COVID-19 pandemic. We believe this decision will ensure and accelerate our path to profitability, enable further investment in our pipeline candidate, NT0502, for the treatment of sialorrhea and strengthen our ability to acquire on-market product opportunities to leverage our commercial organization. We acknowledge this decision impacts many talented employees, and I would like to personally thank them for their contributions to Neos and their dedication to the patients we serve,” said Jerry McLaughlin, President and Chief Executive Officer.

For earnings history and earnings-related data on Neos Therapeutics (NEOS) click here.

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