Penumbra, Inc. (NYSE: PEN) reported Q1 EPS of $0.00, $0.13 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $137.3 million versus the consensus estimate of $136.28 million.

• Revenue of $137.3 million in the first quarter of 2020, an increase of 6.9%, or 7.6% in constant currency1, over the first quarter of 2019. Excluding Japan, total revenue in the first quarter of 2020 increased 13.6%, or 14.3% in constant currency1, over the first quarter of 2019.

"Public health and clinical research conditions have changed dramatically in recent months. As an agile, virtual company, Provention has adapted quickly and seamlessly to this challenging new operating environment," said Ashleigh Palmer, CEO of Provention Bio.

"We continue to execute on our strategy to advance our lead candidate, teplizumab, as the first disease modifying therapy for patients who are at-risk of progressing to clinical-stage type 1 diabetes (T1D). To that end, last month we announced the first module of our rolling biologics license application (BLA) was submitted on schedule, and we remain on track to complete the submissions of all modules in Q4 2020. In parallel with these regulatory efforts, we are building a commercial team and laying the foundations to support a US launch if teplizumab is approved."

"Additionally, we have reported progress on our development pipeline with positive Phase 1b study results for PRV-3279, highlighting this therapeutic candidate's potential to intercept the pathophysiology of lupus and other B cell-mediated autoimmune diseases, as well as prevent or reduce the immunogenicity associated with certain biotherapeutics, including gene therapy products."

"Our team remains highly focused on fulfilling the potential of our portfolio of clinical-stage assets targeting life-impacting and life-threatening autoimmune diseases, and we look forward to building on our success during the remainder of 2020," concluded Ashleigh Palmer.

For earnings history and earnings-related data on Penumbra, Inc. (PEN) click here.