Celator Pharmaceuticals (CPXX) Misses Q4 EPS by 1c

Celator Pharmaceuticals (NASDAQ: CPXX) reported Q4 EPS of ($0.13), $0.01 worse than the analyst estimate of ($0.12).

The following are expected milestones for VYXEOS:

• 3Q 2016 – New Drug Application (NDA) submission
• 1Q 2017 – Marketing Authorization Application (MAA) submission
• Mid-2017 – Prescription Drug User Fee Act (PDUFA) date (assuming FDA priority review)
• 1Q 2018 – Committee for Medicinal Products for Human Use (CHMP) opinion date

Cash and cash equivalents as of December 31, 2015 were $23.3 million, compared to $32.4 million as of December 31, 2014. During the first quarter of 2016, the Company sold 1,353,900 shares of common stock through an at-the-market (ATM) equity offering program for net proceeds of $9.8 million. Management believes that the cash and cash equivalents at December 31, 2015, and the cash generated to date from sales under the ATM will be sufficient to meet estimated working capital requirements and fund planned operations into the second quarter of 2017.

For earnings history and earnings-related data on Celator Pharmaceuticals (CPXX) click here.

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