ANI Pharma (NASDAQ: ANIP) reported Q2 EPS of $0.69, $0.16 worse than the analyst estimate of $0.85. Revenue for the quarter came in at $48.5 million versus the consensus estimate of $46.93 million.

Second Quarter 2020 Financial Highlights:

• Net revenues for Q2 2020 were $48.5 million compared to $54.4 million in Q2 2019.
• GAAP net loss for Q2 2020 was $12.3 million, and diluted GAAP loss per share was $1.03.
• Adjusted non-GAAP EBITDA for Q2 2020 was $15.4 million.
• Adjusted non-GAAP diluted earnings per share for Q2 2020 was $0.69.
• Cash and cash equivalents were $27.7 million, net accounts receivable was $73.2 million, and debt was $190.2 million as of June 30, 2020.

“Despite the negative impact of the COVID-19 pandemic, we had a productive quarter by adding to our stable of generic products, successfully launching our first product from our manufacturing site in Oakville, Canada, a plant that we expect will play an important role in future launches, and making progress to advance our lead product candidate, Cortrophin Gel. I am proud of how our company has navigated these challenges, ensuring the continued manufacturing and availability of our products while keeping our employees safe,” stated Patrick Walsh, Interim President and CEO.

“In addition, we are delighted to welcome Nikhil, Jeanne and Tony, all exceptionally talented executives with deep industry knowledge who will collectively enable us to drive our future growth initiatives, execute on our corporate vision and achieve our strategic goals,” concluded Walsh.

For earnings history and earnings-related data on ANI Pharma (ANIP) click here.