Shares of Retrophin, Inc. (NASDAQ: RTRX) above +2.20 percent and ended at $27.86. The stock’s market capitalization arrived at $1.113B and total traded volume was 151,751 shares. The stock has a 52-week highest price of $29.77 and its 52-week lowest price was called at $18.70. During last trade, its maximum trading price was registered $27.94 and it’s the minimum trading price was noted $27.02.
Retrophin, Inc. (RTRX) recently stated its first quarter 2018 financial results and provided a corporate update.
- The Company recently obtained regulatory feedback from both the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) on the development pathway for sparsentan in IgA nephropathy (IgAN); a single registration-enabling Phase 3 clinical trial is predictable to initiate in the fourth quarter of 2018
- In April 2018, the Company reported that the first patient had been enrolled in the DUPLEX Study, a pivotal Phase 3 clinical trial evaluating sparsentan in focal sectional glomerulosclerosis (FSGS); top-line data from the interim endpoint efficacy analysis are predictable in the second half of 2020
- Net product sales for the first quarter of 2018 were $38.4M, contrast to $33.6M for the same period in 2017
- Cash, cash equivalents and marketable securities, as of March 31, 2018, totaled $264.1M
Quarter Ended March 31, 2018
- Net product sales for the first quarter of 2018 were $38.4M, contrast to $33.6M for the same period in 2017. The raise in net product sales is attributable to growth across the Company’s commercial products: Chenodal®, Cholbam®and Thiola®. The Company continues to expect full year 2018 net product sales to be in the range of $170.0 to $180.0M.
- Research and development (R&D) expenses for the first quarter of 2018 were $24.6M, contrast to $20.9M for the same period in 2017. The difference is largely attributable to support of non-clinical and clinical efforts related to fosmetpantotenate and sparsentan, as well as development funding to support the advancement of CNSA-001. On a non-GAAP adjusted basis, R&D expenses were $23.1M for the first quarter of 2018, contrast to $18.1M for the same period in 2017.
- Selling, general and administrative (SG&A) expenses for the first quarter of 2018 were $26.5M, contrast to $23.1M for the same period in 2017. The difference is largely attributable to an raise in headcount as a result of the Company’s operational growth, as well as marketing initiatives to support its commercial portfolio. On a non-GAAP adjusted basis, SG&A expenses were $19.0M for the first quarter of 2018, contrast to $14.5M for the same period in 2017.
- Total other expense for the first quarter of 2018 was $0.2M, contrast to total other income of $1.3M for the same period in 2017. The difference is largely attributable to a change in accounting guidelines in which adjustments to the fair value of derivative instruments no longer impacts the net income or loss of the Company.
- Net loss for the first quarter of 2018 was $18.4M, or $0.46 per basic share, contrast to $11.1M, or $0.29 per basic share for the same period in 2017. On a non-GAAP adjusted basis, net loss for the first quarter of 2018 was $5.6M, or $0.14 per basic share, contrast to net income of $0.3M, or $0.01 per basic share for the same period in 2017.
- As of March 31, 2018, the Company had cash, cash equivalents and marketable securities of $264.1M.
The stock’s RSI amounts to 57.41. Beta factor was 0.98. Return on equity (ROE) was noted as -22.50 percent while return on investment (ROI) was -16.00 percent. EPS growth ratio for the past five years was 28.80 percent.
