Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX) today provided preliminary financial results and announced that its Board of Directors has approved a new stock repurchase program providing for the repurchase of up to an aggregate of $150 million of Eagle’s common stock, consisting of (i) up to $50 million in repurchases pursuant to an accelerated share repurchase (“ASR”) transaction with JPMorgan Chase Bank, National Association (“JP Morgan”) and (ii) up to $100 million in additional repurchases. This reflects the Company's conviction in its business strategy.

The Company also announced preliminary financial results.

Q3 2018 preliminary revenue is expected to be $51 million;
Q3 2018 preliminary net income is expected to be $14 million, or $0.94 per basic and $0.91 per diluted share; and
Q3 2018 preliminary Adjusted Non-GAAP net income is expected to be approximately $18 million or $1.22 per basic and $1.18 per diluted share.

EAGLE PHARMACEUTICALS, INC.
RECONCILIATION OF GAAP TO ADJUSTED NON-GAAP NET INCOME AND
ADJUSTED NON-GAAP EARNINGS PER SHARE
(In thousands, except share and per share amounts)
(unaudited)

Three Months
Ended September
30,

2018

Net income - GAAP $ 14,040

Adjustments:
Cost of product revenues:
Amortization of acquired intangible assets 194
Research and development:
Share-based compensation expense 831
Depreciation 66
Severance 68
Selling, general and administrative:
Share-based compensation expense 3,641
Amortization of acquired intangible assets 405
Depreciation 169
Other:
Non-cash interest expense 94
Restructuring charge 91
Tax effect of the non-GAAP adjustments (1,334 )

Adjusted non-GAAP net income $ 18,265

Adjusted non-GAAP earnings per share
Basic $ 1.22
Diluted $ 1.18
Weighted number of common shares outstanding:
Basic 15,011,159
Diluted 15,483,037