Anacor Pharmaceuticals Earnings: Here’s Why Investors are Ambivalent Now
Anacor Pharmaceuticals, Inc. (NASDAQ:ANAC) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Anacor Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.36 in the quarter versus EPS of $-0.47 in the year-earlier quarter.
Revenue: Rose 32.81% to $3.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Anacor Pharmaceuticals, Inc. reported adjusted EPS loss of $0.36 per share. By that measure, the company beat the mean analyst estimate of $-0.39. It beat the average revenue estimate of $2.6 million.
Quoting Management: “We had a busy second quarter as we finalized preparations for our NDA for tavaborole, which was submitted on July 26th. This is an exciting time at Anacor as we begin to reap the benefits of the investments that we’ve made in drug development over the last decade and plan the commercialization of our later stage products,” said David Perry, Chief Executive Officer of Anacor Pharmaceuticals.
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