May 11, 2020 / 12:25 PM / 19 days ago

BRIEF-Eagle Pharmaceuticals Reports First Quarter 2020 Results

May 11 (Reuters) - Eagle Pharmaceuticals Inc:

* EAGLE PHARMACEUTICALS REPORTS FIRST QUARTER 2020 RESULTS

* Q1 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.84

* Q1 LOSS PER SHARE $0.21

* Q1 REVENUE $46 MILLION VERSUS REFINITIV IBES ESTIMATE OF $51.1 MILLION

* Q1 EARNINGS PER SHARE ESTIMATE $0.57 — REFINITIV IBES DATA

* HAS NOT EXPERIENCED ANY IMPACT TO ITS SUPPLY CHAIN TO DATE, AND BELIEVES IT HAS SUFFICIENT SUPPLY CHAIN INVENTORY

* EAGLE PHARMACEUTICALS - SUBMITTED IND APPLICATION TO FDA FOR PHASE 2 CLINICAL TRIAL TO EVALUATE EFFICACY OF RYANODEX IN PATIENTS INFECTED WITH SARS-COV-2

* ROYALTY REVENUE WAS $28.3 MILLION IN Q1 OF 2020, COMPARED TO $26.3 MILLION IN Q1 OF 2019

* RESEARCH AND DEVELOPMENT SPEND IN 2020, ON A NON-GAAP BASIS, IS EXPECTED TO BE $46-$50 MILLION, AS COMPARED TO $31 MILLION IN 2019

* SG&A SPEND IN 2020, ON A NON-GAAP BASIS, IS EXPECTED TO BE $61-$64 MILLION, AS COMPARED TO $56 MILLION IN 2019

* SINCE MARCH 31, COMPANY HAS RE-PAID FULL $110.0 MILLION DRAWN UNDER ITS REVOLVING CREDIT FACILITY

* PREPARING FOR MULTIPLE POTENTIAL PRODUCT LAUNCHES IN NEXT THREE YEARS Source text for Eikon: Further company coverage:

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