Akcea Therapeutics (AKCA) Q4 Revenues Beat

Akcea Therapeutics (NASDAQ: AKCA) reported Q4 EPS of $0.86, which may not compare to the analyst estimate of $1.11. Revenue for the quarter came in at $277 million versus the consensus estimate of $215.93 million.

“With two commercial products on the market, the initiation of two Phase 3 programs, and two drugs in our pipeline with positive Phase 2 data, 2019 was a successful year for Akcea and our patients. We have a solid foundation in place for future clinical and commercial achievements, which includes ongoing efforts to potentially expand our pipeline,” said Damien McDevitt, interim chief executive officer of Akcea. “We have strong strategic partnerships with Novartis and Pfizer, a talented leadership team as well as an exciting pipeline to drive our company’s future growth.”

“With the commercial launches of TEGSEDI and WAYLIVRA in additional countries, we generated total product revenues of $14 million and $42 million in the fourth quarter and full year 2019, respectively” said Mike MacLean, chief financial officer of Akcea. “With the closing of the AKCEA-ANGPTL3-LRx licensing deal with Pfizer in the fourth quarter, we began 2020 with $464 million in cash and short-term investments on the balance sheet, and are well positioned to execute on our commercial strategy and to potentially broaden our pipeline.”

For earnings history and earnings-related data on Akcea Therapeutics (AKCA) click here.

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