ATRS Antares Pharma Inc.

4.29
-0.01  -0%
Previous Close 4.29
Open 4.29
52 Week Low 1.6
52 Week High 4.52
Market Cap $715,024,720
Shares 166,672,429
Float 163,901,493
Enterprise Value $709,402,082
Volume 958,823
Av. Daily Volume 1,209,955
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Drug Pipeline

Drug Stage Notes
Selatogrel and QuickShot
Acute myocardial infarction (AMI)
Phase 1
Phase 1
Phase 2 trial planned for 2020.
XYOSTED (testosterone enanthate)
Testosterone deficiency
Approved
Approved
FDA Approval announced October 1, 2018.
Makena - auto injector
Reduce the risk of preterm birth in women with a singleton pregnancy
Approved
Approved
Approval announced February 14, 2018.
OTREXUP
Rheumatoid arthritis (RA)
Approved
Approved
Approved Oct 14, 2013.
Anturol
Overactive bladder
Approved
Approved
Approved December 8, 2011.

Latest News

  1. EWING, N.J., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today announced guidance for full-year 2021 and expects revenue to be in a range of $175 to $200 million, which assumes no significant disruptions to supply or operations due to the ongoing COVID-19 pandemic. The Company also updated its guidance for full-year 2020 and expects revenue to be in a range of $145 to $150 million from $135 to $155 million.

    Robert F. Apple, President and Chief Executive Officer of Antares Pharma, commented, "We are pleased with the significant commercial advancements we made last year, primarily driven by strong demand for XYOSTED and Teva's generic EpiPen, despite the challenging…

    EWING, N.J., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today announced guidance for full-year 2021 and expects revenue to be in a range of $175 to $200 million, which assumes no significant disruptions to supply or operations due to the ongoing COVID-19 pandemic. The Company also updated its guidance for full-year 2020 and expects revenue to be in a range of $145 to $150 million from $135 to $155 million.

    Robert F. Apple, President and Chief Executive Officer of Antares Pharma, commented, "We are pleased with the significant commercial advancements we made last year, primarily driven by strong demand for XYOSTED and Teva's generic EpiPen, despite the challenging environment due to the global pandemic. Based on these achievements, we have narrowed our full-year 2020 revenue guidance. As we look ahead, we expect growing demand for XYOSTED and the generic EpiPen, in addition to a successful relaunch of NOCDURNA. Our expectations for 19-36% year-over-year revenue growth in 2021, based on the mid-point of the 2020 guidance, also assumes a range of revenue scenarios for the potential approval and launch of Forteo by our partner Teva in the U.S."

    About Antares Pharma

    Antares Pharma, Inc. is a pharmaceutical technology company focused primarily on the development and commercialization of self-administered injectable pharmaceutical products using advanced drug delivery auto injector technology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma's FDA-approved products include XYOSTED® (testosterone enanthate) injection, OTREXUP® (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA® (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.

    SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

    This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the Company's ability to achieve the 2020 and 2021 full-year revenue guidance; the uncertainty regarding the duration, scope and severity of the COVID-19 pandemic and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, and our overall business, operating results and financial condition; successful commercialization of NOCDURNA® in the United States and market acceptance and future revenue from the same: commercial success of XYOSTED® and future revenue from the same; market acceptance of Teva's generic epinephrine auto-injector product and future revenue from the same; whether the FDA will withdraw marketing approval for AMAG Pharmaceuticals' Makena® subcutaneous auto injector following the recent FDA letter seeking withdrawal, whether AMAG will be granted an appeal hearing and if granted, whether Makena® will be successful and future prescriptions, market acceptance and revenue from the same; Teva's ability to successfully commercialize VIBEX® Sumatriptan Injection USP and the amount of revenue from the same; future prescriptions and sales of OTREXUP®; Teva's ability to successfully commercialize generic teriparatide in 11 countries in Europe, Canada and Israel and future revenue from the same, successful development including the timing and results of the clinical bridging and Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; FDA approval of Teva's pending ANDA for generic Forteo® and future revenue from the same; the timing and results of the Company's or its partners' research projects or clinical trials of product candidates in development including Pfizer's undisclosed development product; actions by the FDA or other regulatory agencies with respect to the Company's products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company's ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company's ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ''may'', ''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''seem'', ''seek'', ''future'', ''continue'', or ''appear'' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

    Contact:

    Tram Bui

    Vice President, Corporate Communications and Investor Relations

    609-359-3016



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  2. EWING, N.J., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today announced that Robert F. Apple, President and Chief Executive Officer has participated in a fireside chat presentation and will host investor meetings at the Piper Sandler 32nd Annual Virtual Healthcare Conference being held on December 1-3, 2020.

    The pre-recorded webcast of the fireside chat will be available under the "For Investors" section of the Antares Pharma website at www.antarespharma.com.

    About Antares Pharma

    Antares Pharma, Inc. is a pharmaceutical technology company focused primarily on the development and commercialization of self-administered injectable pharmaceutical products using…

    EWING, N.J., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today announced that Robert F. Apple, President and Chief Executive Officer has participated in a fireside chat presentation and will host investor meetings at the Piper Sandler 32nd Annual Virtual Healthcare Conference being held on December 1-3, 2020.

    The pre-recorded webcast of the fireside chat will be available under the "For Investors" section of the Antares Pharma website at www.antarespharma.com.

    About Antares Pharma

    Antares Pharma, Inc. is a pharmaceutical technology company focused primarily on the development and commercialization of self-administered injectable pharmaceutical products using advanced drug delivery auto injector technology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), Covis Pharma (Covis), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma's FDA-approved products include XYOSTED® (testosterone enanthate) injection, OTREXUP® (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA® (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.

    SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

    This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the Company's ability to achieve the 2020 full-year revenue guidance; the uncertainty regarding the duration, scope and severity of the COVID-19 pandemic and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, and our overall business, operating results and financial condition; successful commercialization of NOCDURNA® in the United States and market acceptance and future revenue from the same: commercial success of XYOSTED® and future revenue from the same; market acceptance of Teva's generic epinephrine auto-injector product and future revenue from the same; whether the FDA will withdraw marketing approval for Covis' Makena® subcutaneous auto injector following the recent FDA letter seeking withdrawal, whether Covis will be granted an appeal hearing and if granted, whether Covis will be successful and future prescriptions, market acceptance and revenue from the same; Teva's ability to successfully commercialize VIBEX® Sumatriptan Injection USP and the amount of revenue from the same; future prescriptions and sales of OTREXUP®; Teva's ability to successfully commercialize generic teriparatide in 11 countries in Europe, Canada and Israel and future revenue from the same, successful development including the timing and results of the clinical bridging and Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; FDA approval of Teva's pending ANDA for generic Forteo and future revenue from the same; the timing and results of the Company's or its partners' research projects or clinical trials of product candidates in development including Pfizer's undisclosed development product; actions by the FDA or other regulatory agencies with respect to the Company's products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company's ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company's ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ''may'', ''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''seem'', ''seek'', ''future'', ''continue'', or ''appear'' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

    Contact:

    Tram Bui

    Vice President, Corporate Communications and Investor Relations

    609-359-3016

     



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  3. EWING, N.J., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today announced that Robert F. Apple, President and Chief Executive Officer is scheduled to present at the Jefferies Virtual London Healthcare Conference.

    Details of the presentation are as follows:

    Event:Jefferies Virtual London Healthcare Conference
    Format:Fireside Chat and 1x1 Meetings
    Fireside Chat Date:Tuesday, November 17, 2020
    Fireside Chat Time:1:45pm ET

    A live webcast of the fireside chat will be available under the "For Investors" section of the Antares Pharma website at www.antarespharma.com.

    About Antares Pharma

    Antares Pharma, Inc. is a pharmaceutical technology company focused primarily on the…

    EWING, N.J., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today announced that Robert F. Apple, President and Chief Executive Officer is scheduled to present at the Jefferies Virtual London Healthcare Conference.

    Details of the presentation are as follows:

    Event:Jefferies Virtual London Healthcare Conference
    Format:Fireside Chat and 1x1 Meetings
    Fireside Chat Date:Tuesday, November 17, 2020
    Fireside Chat Time:1:45pm ET

    A live webcast of the fireside chat will be available under the "For Investors" section of the Antares Pharma website at www.antarespharma.com.

    About Antares Pharma

    Antares Pharma, Inc. is a pharmaceutical technology company focused primarily on the development and commercialization of self-administered injectable pharmaceutical products using advanced drug delivery auto injector technology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals, Inc. (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma's FDA-approved products include XYOSTED® (testosterone enanthate) injection, OTREXUP® (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA® (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.

    SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

    This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the Company's ability to achieve the reinstated 2020 full-year revenue guidance; the uncertainty regarding the duration, scope and severity of the COVID-19 pandemic and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, and our overall business, operating results and financial condition; successful commercialization of NOCDURNA® in the United States and market acceptance and future revenue from the same: commercial success of XYOSTED® and future revenue from the same; market acceptance of Teva's generic epinephrine auto-injector product and future revenue from the same; whether the FDA will withdraw marketing approval for AMAG's Makena® subcutaneous auto injector following the recent FDA letter seeking withdrawal, whether AMAG will be granted an appeal hearing and if granted, whether AMAG will be successful and future prescriptions, market acceptance and revenue from the same; Teva's ability to successfully commercialize VIBEX® Sumatriptan Injection USP and the amount of revenue from the same; future prescriptions and sales of OTREXUP®; Teva's ability to successfully commercialize generic teriparatide in 11 countries in Europe, Canada and Israel and future revenue from the same, successful development including the timing and results of the clinical bridging and Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; FDA approval of Teva's pending ANDA for generic Forteo and future revenue from the same; the timing and results of the Company's or its partners' research projects or clinical trials of product candidates in development including Pfizer's undisclosed development product; actions by the FDA or other regulatory agencies with respect to the Company's products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company's ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company's ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ''may'', ''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''seem'', ''seek'', ''future'', ''continue'', or ''appear'' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

    Contact:

    Tram Bui

    Vice President, Corporate Communications and Investor Relations

    609-359-3016



    Primary Logo

    View Full Article Hide Full Article
  4. Third Quarter 2020 Revenue Increases 17% Year-Over-Year to $40.0 Million

    Third Quarter 2020 Net Income of $5.0 Million, or EPS of $0.03

    EWING, N.J., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today reported financial and operating results for the third quarter ended September 30, 2020 with record revenue of $40.0 million and net income of $5.0 million, or earnings per share of $0.03. The Company also reported record nine-month year-to-date revenue of $105.5 million, a 23% increase versus the first nine months of 2019.

    "We are excited to report another quarter of strong financial results that illustrate the significant growth across our diversified…

    Third Quarter 2020 Revenue Increases 17% Year-Over-Year to $40.0 Million

    Third Quarter 2020 Net Income of $5.0 Million, or EPS of $0.03

    EWING, N.J., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today reported financial and operating results for the third quarter ended September 30, 2020 with record revenue of $40.0 million and net income of $5.0 million, or earnings per share of $0.03. The Company also reported record nine-month year-to-date revenue of $105.5 million, a 23% increase versus the first nine months of 2019.

    "We are excited to report another quarter of strong financial results that illustrate the significant growth across our diversified business of both proprietary and partner revenue. Our total revenue increased almost 17% year-over-year to $40.0 million, primarily driven by strong demand for XYOSTED and Teva's generic Epipen. XYOSTED continues to represent our biggest growth driver, with 129% quarterly growth and 237% year-to-date growth in total prescriptions compared to the same periods in 2019. We believe the ongoing challenges for patients and physicians due to the pandemic will further support the increased demand for an easy-to-use, painless at-home testosterone replacement therapy. While we also remain committed to the development of our internal pipeline focused on urology and endocrinology, we are excited about the recent U.S. licensing of NOCDURNA which immediately expands our proprietary portfolio offering and leverages our existing salesforce given the significant overlap in urology call points," said Robert F. Apple, President and Chief Executive Officer of Antares Pharma.

    "Furthermore, we have a development pipeline with our partners that we believe are underappreciated opportunities. As generic teriparatide is launched in 11 European countries, Canada and Israel by Teva, we remain eager for the potential U.S approval. We also look forward to Idorsia initiating their Phase 3 trial for the selatogrel pen and being able to provide a timeline for the Pfizer program as we look ahead. Overall, we believe our diversified business will continue to advance and support our future aggressive growth," Mr. Apple concluded.

    Third Quarter 2020 and Recent Highlights

    • Reported third quarter 2020 total revenue of $40.0 million, an increase of 17% compared to $34.3 million in the same period last year.   Proprietary product revenue increased 38% to $15.8 million compared to $11.5 million in the third quarter of 2019. Total partnered product, development and royalty revenue was $24.2 million for the third quarter 2020 compared to $22.8 million in the third quarter 2019, representing an increase of 6%.



    • Reported third quarter 2020 net income of $5.0 million, or earnings per share of $0.03 compared to net income of $1.0 million, or earnings per share of $0.01 in the comparable period last year.         
    • XYOSTED® total prescriptions in the third quarter 2020 increased 15% sequentially and 129% year-over-year, according to IQVIA.



    • Entered into an exclusive license agreement with Ferring Pharmaceuticals for the marketed urology product NOCDURNA® (desmopressin acetate), which is indicated for the treatment of nocturia due to nocturnal polyuria in adults who awaken at least two times per night to urinate, in the United States.

    Third Quarter 2020 Financial Results

    Total revenue generated from product sales, license and development activities and royalties was $40.0 million for the three months ended September 30, 2020, a 17% increase compared to $34.3 million in the same period in 2019. For the nine months ended September 30, 2020, total revenue was $105.5 million, a 23% increase from $86.0 million for the comparable period in 2019.

    Product sales were $28.9 million for the three months ended September 30, 2020, a 17% increase compared to $24.7 million for the same period in 2019. For the nine-month period ended September 30, 2020, product sales were $80.7 million, a 27% increase from $63.6 million in the comparable period in 2019.   

    Sales of our proprietary products XYOSTED® and OTREXUP® generated revenue of $15.8 million and $43.2 million for the three and nine months ended September 30, 2020, respectively, as compared to $11.5 million and $25.2 million for the three and nine months ended September 30, 2019, respectively. The 38% and 71% increase in proprietary product sales for the three and nine months ended September 30, 2020 respectively, compared to the three and nine months ended September 30, 2019 were principally attributable to continued growth in prescriptions and sales of XYOSTED®.

    Partnered product sales were $13.2 million for both the three months ended September 30, 2020 and 2019, and $37.5 million and $38.4 million for the nine months ended September 30, 2020 and 2019, respectively. The net decrease in sales of partnered products for the nine months ended September 30, 2020 as compared to the same period in 2019 is attributable to decreased sales of needle-free devices to Ferring, a decrease in sales of Makena® auto injectors to AMAG and a reduction in pre-launch quantities of generic teriparatide devices sold to Teva in previous periods.   These decreases were offset by an increase in sales to Teva of their generic EpiPen auto-injectors.

    Licensing and development revenue was $4.3 million and $8.8 million for the three and nine-month periods ended September 30, 2020, respectively, as compared to $1.2 million and $4.4 million for the comparable periods in 2019, respectively. The increase in licensing and development revenue for the nine months ended September 30, 2020 was primarily from the Pfizer rescue pen and the Idorsia selatogrel pen development programs.

    Royalty revenue was $6.7 million for the three months ended September 30, 2020 compared to $8.4 million for the same period in 2019. For the nine-month period ended September 30, 2020, royalty revenue was $16.0 million, as compared to $18.1 million for the same period in 2019. The net decrease in royalty revenue was primarily attributable to a decline in royalties recognized from AMAG on their net sales of the Makena® subcutaneous auto injectors offset by an increase in royalties from Teva on their net sales of Epinephrine Injection USP.

    Gross profit was $23.5 million and $21.2 million for the three months ended September 30, 2020 and 2019, respectively, and $61.4 million and $49.6 million for the nine months ended September 30, 2020 and 2019, respectively. The increase in gross profit was primarily attributable to the increase in proprietary product sales.

    Total operating expenses were $17.6 million for the third quarter of 2020 compared to $19.2 million in the comparable period of 2019. Total operating expenses for the nine months ended September 30, 2020 were $53.9 million as compared to $54.2 million for the comparable period in 2019. The decrease in operating expenses for the three and nine-month periods of 2020 as compared to the same periods in 2019 was primarily attributable to a reduction in sales and marketing costs incurred as a result of the various stay-at-home orders and travel restrictions related to COVID-19.

    Net income was $5.0 million, or $0.03 per share for the third quarter of 2020, compared to $1.0 million, or $0.01 per share in the same period in 2019. Net income was $4.8 million, or $0.03 per share for the nine months ended September 30, 2020 compared to a net loss of $6.7 million, or $0.04 loss per share in the comparable period of 2019.

    As of September 30, 2020, cash, cash equivalents and short-term investments were $52.2 million compared to $45.7 million as of December 31, 2019. Cash generated from operations was $14.2 million for the nine months ended September 30, 2020, compared to cash used in operations of $9.5 million for the nine months ended September 30, 2019.

    Full-Year 2020 Financial Guidance

    The Company today reaffirmed full-year 2020 revenue guidance in the range of $135 to $155 million, which represents a 9% to 25% year-over-year growth rate.

    Webcast and Conference Call Information

    The Antares management team will provide a Company update and review third quarter 2020 financial results via conference call and webcast today, November 5, 2020, at 8:30am ET (Eastern Time). The webcast of the conference call will include a slide presentation, which can be accessed in the investor relations section of the Company's website (www.antarespharma.com) under "Webcasts & Presentations". Alternatively, callers may participate in the audio portion of the conference call by dialing (888) 204-4368 for domestic callers and (323) 994-2093 for international callers. Callers should reference the Antares Pharma conference call or conference ID number 6925216.

    About Antares Pharma

    Antares Pharma, Inc. is a pharmaceutical technology company focused primarily on the development and commercialization of self-administered injectable pharmaceutical products using advanced drug delivery auto injector technology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals, Inc. (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma's FDA-approved products include XYOSTED® (testosterone enanthate) injection, OTREXUP® (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA® (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.

    SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

    This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the Company's ability to achieve the reinstated 2020 full-year revenue guidance; the uncertainty regarding the duration, scope and severity of the COVID-19 pandemic and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, and our overall business, operating results and financial condition; successful commercialization of NOCDURNA® in the United States and market acceptance and future revenue from the same: commercial success of XYOSTED® and future revenue from the same; market acceptance of Teva's generic epinephrine auto-injector product and future revenue from the same; whether the FDA will withdraw marketing approval for AMAG's Makena® subcutaneous auto injector following the recent FDA letter seeking withdrawal, whether AMAG will be granted an appeal hearing and if granted, whether AMAG will be successful and future prescriptions, market acceptance and revenue from the same; Teva's ability to successfully commercialize VIBEX® Sumatriptan Injection USP and the amount of revenue from the same; future prescriptions and sales of OTREXUP®; Teva's ability to successfully commercialize generic teriparatide in 11 countries in Europe, Canada and Israel and future revenue from the same, successful development including the timing and results of the clinical bridging and Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; FDA approval of Teva's pending ANDA for generic Forteo and future revenue from the same; the timing and results of the Company's or its partners' research projects or clinical trials of product candidates in development including Pfizer's undisclosed development product; actions by the FDA or other regulatory agencies with respect to the Company's products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company's ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company's ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ''may'', ''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''seem'', ''seek'', ''future'', ''continue'', or ''appear'' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

    Contact:

    Tram Bui

    Vice President, Corporate Communications and Investor Relations

    609-359-3016

    TABLES TO FOLLOW



    ANTARES PHARMA, INC.

    Table 1 - CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

    (amounts in thousands, except per share amounts)

    (unaudited)

      Three Months Ended      Nine Months Ended     
      September 30,  Increase  September 30,  Increase 
      2020  2019  (Decrease)  2020  2019  (Decrease) 
    Revenue:                        
    Product sales $28,947  $24,687  17%  $80,709  $63,607  27% 
    Licensing and development revenue  4,321   1,211  257%   8,763   4,365  101% 
    Royalties  6,735   8,408  (20)%   15,994   18,053  (11)% 
    Total revenue  40,003   34,306  17%   105,466   86,025  23% 
    Cost of Revenue  16,517   13,062  26%   44,041   36,449  21% 
    Gross profit  23,486   21,244  11%   61,425   49,576  24% 
    Research and development  2,405   2,863  (16)%   7,803   7,744  1% 
    Selling, general and administrative  15,231   16,385  (7)%   46,101   46,407  (1)% 
    Total operating expenses  17,636   19,248  (8)%   53,904   54,151  0% 
    Operating income (loss)  5,850   1,996  193%   7,521   (4,575) ** 
    Other expense  (854)  (953) (10)%   (2,706)  (2,147) 26% 
    Net income (loss) $4,996  $1,043  379%  $4,815  $(6,722) ** 
    Net income (loss) per common share, basic and diluted $0.03  $0.01      $0.03  $(0.04)    
    Weighted average common shares outstanding:                        
    Basic  166,375   163,119       165,838   162,109     
    Diluted  169,655   168,503       169,759   162,109     
                             

    ANTARES PHARMA, INC.

    Table 2 – CONSOLIDATED DETAIL OF REVENUE FROM PRODUCT SALES

    (amounts in thousands)

    (unaudited)

      Three Months Ended  Nine Months Ended 
      September 30,  September 30, 
      2020  2019  2020  2019 
    Product sales:                
    XYOSTED® $12,245  $7,020  $32,150  $12,346 
    OTREXUP®  3,520   4,438   11,027   12,867 
    Partnered product sales  13,182   13,229   37,532   38,394 
    Total product sales $28,947  $24,687  $80,709  $63,607 



    ANTARES PHARMA, INC.


    Table 3 – CONSOLIDATED CONDENSED BALANCE SHEETS

    (amounts in thousands)

    (unaudited)

      September 30,  December 31, 
      2020  2019 
    Assets        
    Cash, cash equivalents and investments $52,169  $45,721 
    Accounts receivable  42,507   35,074 
    Inventories  19,809   16,000 
    Contract assets  8,784   8,235 
    Property and equipment, net  22,547   15,961 
    Other assets  9,758   11,760 
    Total Assets $155,574  $132,751 
             
    Liabilities and Stockholders' Equity        
    Accounts payable and accrued expenses $40,862  $30,677 
    Deferred revenue  3,277   1,738 
    Long-term debt and other liabilities  46,194   45,836 
    Stockholders' equity  65,241   54,500 
    Total Liabilities and Stockholders' Equity $155,574  $132,751 
             

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  5. EWING, N.J., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today announced it will release its third quarter 2020 financial and operating results on Thursday, November 5, 2020, before the market opens.

    Antares will host a conference call on Thursday, November 5, 2020 at 8:30am ET to discuss the results. The dial-in numbers are (888) 204-4368 for domestic callers and (323) 994-2093 for international callers. The conference ID number is 6925216. A live webcast and replay of the conference call will be available online from the investor relations section of the Antares Pharma corporate website at www.antarespharma.com.

    About Antares Pharma

    Antares Pharma, Inc. is…

    EWING, N.J., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) ("the Company"), a pharmaceutical technology company, today announced it will release its third quarter 2020 financial and operating results on Thursday, November 5, 2020, before the market opens.

    Antares will host a conference call on Thursday, November 5, 2020 at 8:30am ET to discuss the results. The dial-in numbers are (888) 204-4368 for domestic callers and (323) 994-2093 for international callers. The conference ID number is 6925216. A live webcast and replay of the conference call will be available online from the investor relations section of the Antares Pharma corporate website at www.antarespharma.com.

    About Antares Pharma

    Antares Pharma, Inc. is a pharmaceutical technology company focused primarily on the development and commercialization of self-administered injectable pharmaceutical products using advanced drug delivery auto injector technology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals, Inc. (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma's FDA-approved products include XYOSTED® (testosterone enanthate) injection, OTREXUP® (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA® (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.

    SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

    This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the Company's ability to achieve the reinstated 2020 full-year revenue guidance; the uncertainty regarding the duration, scope and severity of the COVID-19 pandemic and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, and our overall business, operating results and financial condition; successful commercialization of NOCDURNA® in the United States and market acceptance and future revenue from the same: adequate reimbursement coverage and commercial success of XYOSTED® and future revenue from the same; market acceptance of Teva's generic epinephrine auto-injector product and future revenue from the same; our expectations regarding whether the FDA will be successful in pursuing withdrawal of approval for AMAG's Makena® subcutaneous auto injector following the recent FDA advisory committee meeting and future prescriptions, market acceptance and revenue from the same ; Teva's ability to successfully commercialize VIBEX® Sumatriptan Injection USP and the amount of revenue from the same; continued growth of prescriptions and sales of OTREXUP®; successful development including the timing and results of the clinical bridging and Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; FDA approval of Teva's pending ANDA for generic Forteo and future revenue from the same; the timing and results of the Company's or its partners' research projects or clinical trials of product candidates in development; actions by the FDA or other regulatory agencies with respect to the Company's products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company's ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company's ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ''may'', ''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''seem'', ''seek'', ''future'', ''continue'', or ''appear'' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

    Contact:

    Tram Bui

    Vice President, Corporate Communications and Investor Relations

    609-359-3016

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