Ariad Pharmaceuticals Earnings: Here’s Why Investors Like These Results
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) 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. Shares are up 3.86%.
Ariad Pharmaceuticals Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.36 in the quarter versus EPS of $-0.35 in the year-earlier quarter.
Revenue: Rose 8025% to $6.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ariad Pharmaceuticals Inc. reported adjusted EPS loss of $0.36 per share. By that measure, the company beat the mean analyst estimate of $-0.38. It beat the average revenue estimate of $5.01 million.
Quoting Management: “Today, we report Iclusig revenues for the first time,” said Harvey J. Berger, M.D., chairman and chief executive officer of ARIAD. “The first quarter shows a very strong launch for Iclusig, which demonstrates early adoption of Iclusig in all lines of treatment for adult patients with CML or Ph+ALL that is resistant or intolerant to prior TKI therapy and impressive market penetration into both the community and academic physician settings. Our commercial team has shown that it can compete effectively in this market, and we will build on this momentum as we move forward through the year. Ensuring that Iclusig is available to all resistant or intolerant Ph+ leukemia adult patients in need of this new treatment option – independent of their ability to pay – is our priority.”
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