News Review: Retrophin Inc. (NASDAQ: RTRX)

Lashonda White

I am Lashonda White I give “Newz Skoop” an insight into the most recent news hitting the “Healthcare” sector in Wall Street.

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

Address: 2824 Gateway Road Portland, OR 97230, USA
Phone: (+1) 503-320-5073
Email: Lashondawhite@newzskoop.com
Lashonda White

SAN DIEGO, October 18, 2019 – Shares of Retrophin Inc. (NASDAQ: RTRX) inclined 0.62% to $11.42. The stock traded total volume of 271.076K shares lower than the average volume of 697.20K shares.

For the first quarter of 2019, Retrophin Inc. (RTRX) reported net product sales of $39.60M, compared to $38.40M for the same period in 2018. The increase in net product sales is primarily attributable to growth of the Company’s commercial product Thiola®. The Company expects full year 2019 net product sales to continue on a similar growth rate compared to 2018.

Research and development (R&D) expenses for the first quarter of 2019 were $33.40M, compared to $24.60M for the same period in 2018. The difference is largely attributable to support of clinical and product development efforts related to fosmetpantotenate and sparsentan. On a non-GAAP adjusted basis, R&D expenses were $31.50M for the first quarter of 2019, compared to $23.10M for the same period in 2018.

Selling, general and administrative (SG&A) expenses for the first quarter of 2019 were $32.70M, compared to $26.50M for the same period in 2018. The difference is largely attributable to increased headcount as a result of the Company’s operational growth, and legal expenses. On a non-GAAP adjusted basis, SG&A expenses were $23.20M for the first quarter of 2019, compared to $19.00M for the same period in 2018.

During the first quarter of 2019, the Company recorded a loss on impairment of $25.50M related to the portfolio decision to discontinue the development program for liquid ursodeoxycholic acid (L-UDCA). This was offset by the corresponding write-off of the L-UDCA related contingent consideration of $18.00M, for a net non-cash expense of $7.50M. The Company acquired the rights to L-UDCA in 2016 for $0.50M.

Total other expense for the first quarter of 2019 was $2.30M, compared to $0.20M for the same period in 2018. The difference is largely attributable to higher interest expense related to the Company’s 2025 convertible notes issued in September 2018.

Net loss for the first quarter of 2019 was $41.00M, or $0.99 per basic share, compared to $18.40M, or $0.46 per basic share for the same period in 2018. On a non-GAAP adjusted basis, net loss for the first quarter of 2019 was $26.00M, or $0.63 per basic share, compared to a net loss of $5.60M, or $0.14 per basic share for the same period in 2018.

As of March 31, 2019, the Company had cash, cash equivalents and marketable securities of $447.60M.

RTRX has the market capitalization of $485.69M and its EPS growth ratio for the past five years was -0.80%. The return on assets ratio of the Company was -20.70% while its return on investment ratio stands at -18.30%. Price to sales ratio was 2.88.

Lashonda White

Lashonda White

I am Lashonda White I give “Newz Skoop” an insight into the most recent news hitting the “Healthcare” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2824 Gateway Road Portland, OR 97230, USA Phone: (+1) 503-320-5073 Email: Lashondawhite@newzskoop.com

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