Isis Pharmaceuticals Earnings: Here’s Why the Stock is Up Now
Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) 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 0.42%.
Isis Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.03 in the quarter versus EPS of $-0.20 in the year-earlier quarter.
Revenue: Decreased 38.58% to $19.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Isis Pharmaceuticals, Inc. reported adjusted EPS loss of $0.03 per share. By that measure, the company beat the mean analyst estimate of $-0.23. It beat the average revenue estimate of $15.78 million.
Quoting Management: “2012 was a strong year for Isis. We begin 2013 in a significantly improved financial position with nearly $375 million in cash. Since the beginning of 2013, we have already received a $25 million milestone payment from Genzyme and a $7.5 million milestone payment from GSK. With the commercial launch of KYNAMRO and a maturing pipeline of drugs, we have many opportunities for significant near-term revenue from partnerships while we are also setting the stage for significant future revenue growth,” said Elizabeth L. Hougen, chief financial officer of Isis.
Key Stats (on next page)…