BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
BioMarin Pharmaceutical Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.31 in the quarter versus EPS of $-0.21 in the year-earlier quarter.
Revenue: Rose 9.64% to $127.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: BioMarin Pharmaceutical Inc. reported adjusted EPS loss of $0.31 per share. By that measure, the company missed the mean analyst estimate of $-0.29. It missed the average revenue estimate of $131.44 million.
Quoting Management: “In the first quarter, we continued to execute on our development goals as we head into another potentially transformative year for the company,” said Jean-Jacques Bienaime, Chief Executive Officer of BioMarin. “We made good progress on a number of important fronts including commercial, R&D, regulatory and business development. Highlights included positive results for the Phase 1/2 trial for BMN-701 for Pompe disease, submission of the BLA for Vimizim in the U.S. and the MAA for Vimizim in the EU, the acquisition of Zacharon Pharmaceuticals and the licensing of the Factor VIII program for Hemophilia A. We hit all of our stated milestones for the quarter and remain on track to meet our upcoming goals for the remainder of the year.”
Key Stats (on next page)…