Anacor Pharmaceuticals, Inc. (NASDAQ:ANAC) 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.
Anacor Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.42 in the quarter versus EPS of $-0.48 in the year-earlier quarter.
Revenue: Decreased 29.75% to $1.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Anacor Pharmaceuticals, Inc. reported adjusted EPS loss of $0.42 per share. By that measure, the company missed the mean analyst estimate of $-0.39. It missed the average revenue estimate of $2.57 million.
Quoting Management: “It was an eventful first quarter. We reported positive data from our two Phase 3 trials of tavaborole in onychomycosis, and we are on track to file our NDA around the middle of this year. In addition, we reported successful results from our third Phase 2 trial of AN2728 in atopic dermatitis, which informed the most efficacious dosing regimen for our anticipated Phase 3 trials,” said David Perry, Chief Executive Officer of Anacor Pharmaceuticals. “And most recently, we accomplished the goal of our previously scheduled preliminary injunction hearing as Valeant agreed not to launch efinaconazole, its topical product candidate for onychomycosis, if approved, until after our final arbitration hearing in September of this year.”
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