AVEO Pharmaceuticals Earnings: Here’s Why Investors are Not Happy Now
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) 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 down 10.77%.
AVEO Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.49 in the quarter versus EPS of $-0.58 in the year-earlier quarter.
Revenue: Rose 1311.82% to $15.53 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: AVEO Pharmaceuticals, Inc. reported adjusted EPS loss of $-0.49 per share. By that measure, the company beat the mean analyst estimate of $-0.77. It beat the average revenue estimate of $14.49 million.
Quoting Management: “We continue to make significant progress with tivozanib, including reporting the final overall survival results from TIVO-1, receiving the FDA’s acceptance of the NDA submission and expanding tivozanib clinical development into patients with triple negative breast cancer,” said Tuan Ha-Ngoc, president and chief executive officer of AVEO. “On the heels of our recent financing, we are continuing to build out our commercial infrastructure and remain focused on preparing for the potential launch of tivozanib in advanced RCC in the second half of 2013.”
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