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Depomed Inc (DEPO.OQ)

DEPO.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Depomed announces Q3 loss of $0.25 per share
Tuesday, 7 Nov 2017 04:05pm EST 

Nov 7 (Reuters) - Depomed Inc :Depomed inc sees ‍2017 total revenue $375 to $380 million​.Sees ‍2017 non-gaap adjusted ebitda $104 to $109 million​.Depomed inc sees ‍2017 non-gaap total revenue $380 to $385 million​.Q3 adjusted non-GAAP earnings per share $0.14.Q3 GAAP loss per share $0.25.Q3 revenue $95 million versus i/b/e/s view $99.1 million.Q3 earnings per share view $0.11 -- Thomson Reuters I/B/E/S.FY 2017 revenue view $396.3 million -- Thomson Reuters I/B/E/S.Company will experience temporary outages of certain strengths of nucynta er in q4​.Based on current inventory, manufacturer's potential ability to produce nucynta er supply, expect magnitude of outages to be less than $10 million​.Company believes it has an adequate inventory of gralise, which is manufactured in Puerto Rico​.Does not anticipate material disruption to nucynta ir supply from new third party manufacturer in the u.s.​.  Full Article

Depomed and Slán Medicinal Holdings announce strategic asset transactions
Tuesday, 7 Nov 2017 04:00pm EST 

Nov 7 (Reuters) - Depomed Inc :Depomed and Slán Medicinal Holdings Ltd announce strategic asset transactions.Depomed Inc - ‍Slán Medicinal Holdings limited to acquire Lazanda from Depomed​.Depomed - co to buy from Slán rights to market specialty drug, cosyntropin in united states and divest its Lazanda nasal spray cii to Slán​.Depomed - intends to seek approval for cosyntropin in u.s., subsequent to approval co, Slán to share in net sales of Cosyntropin for 10-year period​.  Full Article

PDL Biopharma announces settlement agreement with Valeant
Monday, 30 Oct 2017 07:00am EDT 

Oct 30 (Reuters) - PDL Biopharma Inc :PDL Biopharma announces settlement agreement with Valeant.PDL Biopharma - ‍Valeant to pay a one-time, lump-sum payment of $13.0 million as part of settlement.PDL Biopharma - ‍Valeant's one-time, lump-sum payment will be transferred to co pursuant to terms of Depomed royalty agreement.PDL Biopharma - ‍Valeant's one-time, lump-sum payment to co will not recognized as revenue by Depomed​.PDL - ‍depomed, co to release Valeant from claims against it arising from royalty audit, Valeant's obligation to pay royalties during audit period​.PDL Biopharma Inc- ‍valeant will release Depomed, co from all claims against them as a result of audit and/or litigation​.PDL - ‍entered into settlement with Valeant that resolves matters relating to "alleged underpayment of royalties by Valeant"​.  Full Article

Depomed ‍provides information on impact of hurricane Maria to supply of NUCYNTA ER​
Tuesday, 10 Oct 2017 07:30am EDT 

Oct 10 (Reuters) - Depomed Inc : :Says ‍provides information on impact of hurricane Maria to supply of NUCYNTA ER​.Depomed Inc - ‍most recent assessment that co has received from manufacturer of NUCYNTA ER indicates that facility in Puerto Rico suffered minor damage.Depomed Inc - ‍company's Q3 product revenue was negatively impacted by approximately $2 to $3 million​ due to hurricane Maria.Depomed Inc says site leaders at facility in Puerto Rico​ are working to return facility to full operation.Depomed Inc - ‍expects its Q4 product revenue may be negatively impacted by less than $10 million​.Says ‍NUCYNTA ER is manufactured in Puerto Rico by company's third party manufacturing partner​.Depomed - ‍co will provide an update to its full year 2017 financial guidance and on NUCYNTA ER supply situation during its Q3 conference call in early November​.Depomed - ‍does not currently anticipate, based on information available to it at this time, any material disruption to supply of NUCYNTA IR or Gralise​.  Full Article

Armistice Capital LLC reports 6.4 pct passive stake in Depomed Inc
Friday, 18 Aug 2017 03:24pm EDT 

Aug 18 (Reuters) - Depomed Inc ::Armistice Capital LLC reports 6.4 percent passive stake in Depomed Inc as on August 8, 2017 - SEC filing‍​‍​.  Full Article

Depomed Q2 loss per share $0.43
Monday, 7 Aug 2017 04:01pm EDT 

Aug 7 (Reuters) - Depomed Inc :Depomed announces second quarter 2017 financial results.Q2 adjusted non-GAAP earnings per share $0.08.Q2 GAAP loss per share $0.43.Q2 revenue $100 million versus I/B/E/S view $99.4 million.Q2 earnings per share view $0.09 -- Thomson Reuters I/B/E/S.Depomed Inc sees 2017 total revenue (GAAP) $395 to $410 million.Depomed Inc sees 2017 total revenue (non-GAAP) $400 to $415 million.Depomed Inc sees 2017 non-gaap adjusted EBITDA $107 to $117 million.FY 2017 revenue view $417.8 million -- Thomson Reuters I/B/E/S.  Full Article

Depomed announces intent to effect a debt refinancing
Thursday, 13 Jul 2017 08:00am EDT 

July 13 (Reuters) - Depomed Inc :Depomed announces intent to effect a debt refinancing.Seeking to refinance its existing $375 million principal amount of privately placed secured senior notes.Existing notes are due in 2022 and have a coupon of 9.75% over three-month libor.Currently expects net sales to be in range of approximately $98 million to $103 million for quarter ended june 30, 2017.Depomed inc - expects non-gaap adjusted ebitda for q2 to be in range of approximately $23 million to $28 million.Depomed inc - ‍on track to achieve previously stated financial guidance for full year​.Currently expects to report its full q2 2017 financial results in early august.Expect that will be able to refinance on significantly more favorable terms given solid net sales and ebitda.Depomed inc - intent is to close debt refinancing during the quarter.Q2 revenue view $101.4 million -- Thomson Reuters I/B/E/S.Q2 revenue view $101.4 million -- Thomson Reuters I/B/E/S.Fy2017 earnings per share view $0.63, revenue view $418.8 million -- Thomson Reuters I/B/E/S.  Full Article

Depomed reports Q1 adjusted non-GAAP earnings $0.07/shr
Tuesday, 9 May 2017 04:02pm EDT 

May 9 (Reuters) - Depomed :Depomed announces first quarter 2017 financial results and strategic initiatives aimed at driving sustainable long-term growth and shareholder value.Q1 adjusted non-gaap earnings per share $0.07.Q1 GAAP loss per share $0.43.Q1 revenue $95 million versus i/b/e/s view $103.1 million.Sees FY 2017 revenue $410 million to $430 million.Q1 earnings per share view $0.14 -- Thomson Reuters I/B/E/S.Depomed Inc- for 2017, not providing GAAP net loss or GAAP expense guidance as company is not able to estimate its non-recurring expenses for 2017.Depomed Inc- intends to take a one-time charge of approximately $5 million in Q2 of 2017.Depomed- implementing cost saving initiatives including about 30 person reduction in force at co's headquarters, representing 20% of home office staff.  Full Article

Depomed announces cooperation agreement with Starboard Value Lp
Tuesday, 28 Mar 2017 04:03pm EDT 

Depomed Inc - : Depomed announces cooperation agreement with Starboard Value Lp including CEO and board changes . Three new directors named to board . Says q1 2017 net sales estimated to be $95-$100 million- . Says James Fogarty named new chairman of boar . James Fogarty named new chairman of board . Arthur J. Higgins has joined company as president and chief executive officer and member of board of directors . Says q1 results reflect impact of previously announced realignment of company's sales force effective February 1, 2017 . Company will revise its financial guidance for year . Q1 revenue view $114.6 million -- Thomson Reuters I/B/E/S .Says resignation of James Schoeneck as president and chief executive officer and member of board of directors.  Full Article

Depomed reports Q4 loss per share $0.72
Tuesday, 21 Feb 2017 04:01pm EST 

Depomed Inc - : Depomed reports fourth quarter and full year 2016 financial results . Q4 revenue $124 million versus I/B/E/S view $123 million . Quarterly loss per share $0.72 . Quarterly non-gaap earnings per share $0.48 . Sees 2017 total revenue $490 million to $520 million . Sees 2017 non-gaap adjusted ebitda $170 to $195 million . Q4 earnings per share view $0.36 -- Thomson Reuters I/B/E/S . FY2017 earnings per share view $1.18, revenue view $516.7 million -- Thomson Reuters I/B/E/S .Recorded $43 million gaap tax expense charge related to establishment of a reserve against co's deferred tax assets during Q4 of 2016.  Full Article

BRIEF-Depomed announces Q3 loss of $0.25 per share

* Depomed inc sees ‍2017 non-gaap total revenue $380 to $385 million​