Attention Seeking Stock: Retrophin Inc. (NASDAQ: RTRX)

Healthcare
Douglas Williams
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SAN DIEGO, March 5, 2020 – Shares of Retrophin Inc. (NASDAQ: RTRX) showed the bullish trend with a higher momentum of 4.43% to $15.80. The company traded total volume of 248.459K shares as contrast to its average volume of 369.91K shares. The company has a market value of $659.49M and about 41.74M shares outstanding.

For the third quarter of 2019, Retrophin Inc. (NASDAQ: RTRX) reported net product sales of $44.40M, contrast to $40.70M for the same period in 2018. For the nine months ended September 30, 2019, net product sales were $128.70M, contrast to $120.50M for the same period in 2018. The increase in net product sales is attributable to growth across the Company’s commercial products counting the ongoing launch of THIOLA EC. Growth of the Company’s net product sales for the full year 2019 is expected to be in line with the growth rate seen for the full year 2018.

Research and development (R&D) expenses for the third quarter of 2019 were $33.20M, contrast to $32.40M for the same period in 2018. For the nine months ended September 30, 2019, R&D expenses were $104.60M, contrast to $91.50M for the same period in 2018. The difference is mostly attributable to increased support of clinical and product development efforts. On a non-GAAP adjusted basis, R&D expenses were $31.20M for the third quarter of 2019, contrast to $30.60M for the same period in 2018.

Selling, general and administrative (SG&A) expenses for the third quarter of 2019 were $29.80M, contrast to $26.10M for the same period in 2018. For the nine months ended September 30, 2019, SG&A expenses were $101.40M, contrast to $77.70M for the same period in 2018. The difference is mostly attributable to increased headcount as a result of the Company’s operational growth, and professional fees. On a non-GAAP adjusted basis, SG&A expenses were $22.30M for the third quarter of 2019, contrast to $18.30M for the same period in 2018.

In the third quarter of 2019, the Company incurred a $15.00M impairment of long-term investment related to the formerly declared decision to discontinue the joint development program for CNSA-001 with Censa Pharmaceuticals.

Total other expense for the third quarter of 2019 was $2.60M, contrast to $18.50M for the same period in 2018. The difference is mostly attributable to a loss on early extinguishment of debt related to the repurchase of outstanding convertible notes due 2019 effected in September 2018.

Net loss for the third quarter of 2019 was $36.50M or $0.85 per basic share, contrast to $54.50M, or $1.34 per basic share for the same period in 2018. For the nine months ended September 30, 2019, net loss was $116.20M, contrast to $95.20M for the same period in 2018. On a non-GAAP adjusted basis, net loss for the third quarter of 2019 was $28.20M, or $0.66 per basic share, contrast to a net loss of $27.80M, or $0.68 per basic share for the same period in 2018.

As of September 30, 2019, the Company had cash, cash equivalents and marketable securities of $407.00M.

The Company offered net profit margin of -71.70% while its gross profit margin was 97.00%. ROE was recorded as -43.90% while beta factor was 0.88. The stock, as of recent close, has shown the weekly upbeat performance of 3.40% which was maintained at 11.27% in this year.

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