REPH Recro Pharma Inc.

3.37
-1.03  -23%
Previous Close 4.4
Open 3.71
52 Week Low 3.9865
52 Week High 19.21
Market Cap $79,416,527
Shares 23,565,735
Float 19,306,305
Enterprise Value $196,651,234
Volume 1,928,988
Av. Daily Volume 358,578
Stock charts supplied by TradingView

Latest News

  1. Launches Clinical Trial Materials Business and Secures New Customers

    Company to Host Conference Call Today at 8:00 a.m. ET

    MALVERN, Pa., Aug. 10, 2020 (GLOBE NEWSWIRE) --  Recro (NASDAQ:REPH), a leading contract development and manufacturing organization (CDMO), with integrated solutions for the development, formulation, regulatory support, manufacturing and packaging of oral solid dose drug products, today reported financial results for the three and six months ended June 30, 2020.

    "As the global COVID-19 situation continues to evolve, we have implemented new ways of working, and our concerns remain the health and safety of our associates, our customers, and the patients treated with the products we manufacture as well as our shareholders…

    Launches Clinical Trial Materials Business and Secures New Customers

    Company to Host Conference Call Today at 8:00 a.m. ET

    MALVERN, Pa., Aug. 10, 2020 (GLOBE NEWSWIRE) --  Recro (NASDAQ:REPH), a leading contract development and manufacturing organization (CDMO), with integrated solutions for the development, formulation, regulatory support, manufacturing and packaging of oral solid dose drug products, today reported financial results for the three and six months ended June 30, 2020.

    "As the global COVID-19 situation continues to evolve, we have implemented new ways of working, and our concerns remain the health and safety of our associates, our customers, and the patients treated with the products we manufacture as well as our shareholders," said Gerri Henwood, President and Chief Executive Officer of Recro. "During the second quarter, the effects of the pandemic continued to have an adverse impact on our revenues. Despite this, our operations remain stable, and we successfully launched our new Clinical Trial Materials (CTM) business. We have also secured multiple new customers. As we navigate through these challenging times, we remain steadfast in our commitment to delivering important development stage and commercial medicines."

    "Looking ahead over the next few quarters, we expect the pandemic to continue to have some impact on our customers and the therapeutics categories they serve. Based on third party sales data for our customers and consistent with a recent third party pharmaceutical market tracking report, which showed significant overall and segment impacts to total prescriptions (TRx) across most therapeutic categories, we expect some continued volatility in our customers sales and inventory levels as they adjust to uncertainties surrounding the pandemic including the potential for fewer patient visits to doctor's offices, access to telehealth, and a resultant reduction in new and refill prescription rates.  Other impacts could come from possible stay at home orders and patient attitudes towards the necessity of medications and treatment of chronic diseases. Given the continuing uncertainty of the potential impact of the pandemic on our business and operations, we believe it is prudent to withdraw and suspend our 2020 financial guidance."

    Second Quarter 2020 and Recent Highlights

    • CDMO Readiness for Essential Drugs and Medical Supplies. In support of a recently signed technology transfer project for a non-US firm for a marketed product, as well as for potential future commercial manufacturing growth, Recro has installed a 400-liter high shear granulator and a 420-liter fluid bed dryer.



    • Clinical Trial Materials.  Growth in the CTM area and associated Logistics can now be addressed with on-demand services for innovative trial design and direct-to-patient logistics. The Company's Development services offerings include non-clinical formulation, Active Pharmaceutical Ingredient (API) characterization, over-encapsulation & manufacturing in addition to double blind, randomized clinical packaging and commercial packaging services.
    • New Business for High Potency Oral Products. Recro entered into an exclusive development agreement with an undisclosed top 20 pharmaceutical company to develop a high potency oral NCE. Recro is also in negotiations with regard to a development agreement to produce another high potency marketed product for another top pharmaceutical company.



    • Ongoing COVID-19 Response and Impacts. The COVID-19 pandemic continues to have adverse effects on the U.S. and world economies, including the commercial activities of our customers and their peers. As a result, Recro's business and results of operations have been adversely affected. Given the uncertain scope and duration of the pandemic, the extent to which the pandemic will continue to impact Recro's financial results remains uncertain in terms of manufacturing volumes and profit sharing revenues which have seen negative impacts in the second quarter of 2020 without loss of market share, we believe due to reduced total prescription (TRx) rates for many chronic therapeutics. Recro expects the COVID-19 pandemic and the other factors that have impacted revenue in the first six months of 2020 to continue to have some impact its revenue in the third and fourth quarters of 2020. However, the Company will continue to monitor the situation closely, has taken steps to reduce costs and drive more new business and is actively evaluating ways to further conserve operational resources.

    Financial Results for the Three Months Ended June 30, 2020

    As of June 30, 2020, Recro had cash and cash equivalents of $22.8 million.

    Revenue for the three months ended June 30, 2020 was $15.5 million, compared to $31.3 million for the same period in 2019. The decrease of $15.7 million in revenue was primarily due to decreased product sales and royalties recognized from three of our commercial partners. We also experienced slower than expected new project starts and overall growth due to the impacts of COVID-19.

    Cost of sales for the three months ended June 30, 2020 was $11.6 million, compared to $14.1 million for the same period in 2019. Cost of sales decreased $2.5 million and was not proportionate to the decrease in revenues, primarily due fixed costs being spread over lower commercial volumes.

    Selling, general and administrative expenses for the three months ended June 30, 2020 were $4.3 million, compared to $5.5 million for the same period in 2019. The decrease of $1.3 million was primarily related to lower public company costs and lower travel and marketing costs driven by the COVID-19 pandemic, which were partially offset by higher selling costs due to completion of readiness for the CTM business.

    Amortization expense was $0.6 million for both three-month periods ended June 30, 2020 and 2019, which was related to the amortization of the CDMO royalties and contract manufacturing relationships intangible asset over its estimated useful life.

    Interest expense was $5.0 million and $5.2 million during the three months ended June 30, 2020 and 2019, respectively. The decrease of $0.2 million was due to a slight decrease in the LIBOR base rate of interest on loans with Athyrium.

    For the three months ended June 30, 2020, Recro reported a net loss of $6.0 million, or $0.25 per diluted share, compared to a net loss of $2.8 million, or $0.12 per diluted share, for the comparable period in 2019, which included losses from discontinued operations.

    Financial Results for the Six Months Ended June 30, 2020

    Revenue for the six months ended June 30, 2020 was $37.3 million, compared to $56.3 million for the same period in 2019. The decrease of $19.0 million in revenue was primarily due to the same factors as described in the three-month results above in addition to the discontinuation of a commercial product line in the first quarter.

    Cost of sales for the six months ended June 30, 2020 was $29.9 million, compared to $28.5 million for the same period in 2019. Cost of sales increased $1.4 million, and was not proportionate to the decrease in revenues, primarily due to fixed cost being spread over lower commercial volumes. Reduction in force actions that were taken in the first half will drive annual estimated savings of $3.4 million in fiscal year 2021.

    Selling, general and administrative expenses for the six months ended June 30, 2020 were $9.7 million, compared to $12.0 million for the same period in 2019. The decrease of $2.3 million was primarily due to the same factors as described in the three-month results above.

    Amortization expense was $1.3 million for both six-month periods ended June 30, 2020 and 2019, which was related to the amortization of the CDMO royalties and contract manufacturing relationships intangible asset over its estimated useful life.

    Interest expense was $10.1 million and $8.8 million during the six months ended June 30, 2020 and 2019, respectively. The increase of $1.4 million was due to additional borrowings under its Credit Agreement with Athyrium in the first quarter of 2019, partially offset by a decrease in the LIBOR base rate of interest on those term loans in 2020.

    For the six months ended June 30, 2020, Recro reported a net loss of $13.7 million, or $0.58 per diluted share, compared to a net loss of $4.8 million, or $0.21 per diluted share, for the comparable period in 2019, which included losses from discontinued operations.

    Financial Guidance

    The Company is withdrawing and suspending financial guidance primarily due to the difficulty of forecasting the impact of COVID-19 and its impact on market forces, contracts, timing of customer order patterns, customer inventory rebalancing and timing of development projects. The Company believes that we cannot reliably predict rapidly changing and uncertain factors impacting the macro market for our commercial customers and the timing of clinical trials and related CDMO services in the current COVID-19 environment.

    Conference Call and webcast

    Recro management will be hosting a conference call and webcast today beginning at 8:00 a.m. ET. To access the conference call, please dial (844) 243-4691(local) or (225) 283-0379 (international) at least 10 minutes prior to the start time and refer to conference ID 2777659. A live audio webcast of the call will be available under "Events" in the Investor section of the Company's website, www.recrocdmo.com. An archived webcast will be available on the Company's website approximately two hours after the event and will be available for 30 days.

    About Recro

    Recro is a contract development and manufacturing, or CDMO, business, with integrated solutions for the development, formulation, regulatory support, manufacturing and packaging of oral solid dose drug products located in Gainesville, GA. The Company leverages its formulation expertise to develop and manufacture pharmaceutical products using its proprietary delivery technologies and other manufacturing services for commercial and development-stage partners who commercialize or plan to commercialize these products. For more information see www.recrocdmo.com.

    Cautionary Statement Regarding Forward Looking Statements

    This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements, among other things, relate to the Company's ability to manage costs and to achieve its financial goals; to operate under increased leverage and associated lending covenants; to pay its debt under its credit agreement and to maintain relationships with CDMO commercial partners and develop additional commercial partnerships. The words "anticipate", "believe", "could", "estimate", "upcoming", "expect", "intend", "may", "plan", "predict", "project", "will" and similar terms and phrases may be used to identify forward-looking statements in this press release.  Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Factors that could cause the Company's actual outcomes to differ materially from those expressed in or underlying these forward-looking statements include the ongoing economic and social consequences of the COVID-19 pandemic, including any adverse impact on the customer ordering patterns or disruption in raw materials or supply chain; demand for the Company's services, which depends in part on customers' research and development and the clinical plans and market success of their products; customers' changing inventory requirements and manufacturing plans; customers and prospective customers decisions to move forward with the Company's manufacturing services; the average profitability, or mix, of the products the Company manufactures; the Company's ability to enhance existing or introduce new services in a timely manner; fluctuations in the costs, availability, and suitability of the components of the products the Company manufactures, including active pharmaceutical ingredients, excipients, purchased components and raw materials, or the Company's customers facing increasing or new competition. These forward-looking statements should be considered together with the risks and uncertainties that may affect our business and future results presented herein along with those risks and uncertainties discussed in our filings with the Securities and Exchange Commission at www.sec.gov.  These forward-looking statements are based on information currently available to us, and we assume no obligation to update any forward-looking statements except as required by applicable law.

    Contacts

    Investor Relations Contact:

    Argot Partners

    Sam Martin / Claudia Styslinger

    (212) 600-1902



    Recro

    Ryan D. Lake

    (484) 395-2436

    Media Contact:

    Argot Partners

    David Rosen

    (212) 600-1902





    RECRO PHARMA, INC. AND SUBSIDIARIES 
    Consolidated Balance Sheets 
    (Unaudited) 
                
    (amounts in thousands, except share and per share data)     
                
          Assets June 30,

    2020
     December 31,

    2019
     
    Current assets:     
     Cash and cash equivalents$22,787    $19,148     
     Accounts receivable 11,584     14,389     
     Contract asset 8,911     8,851     
     Inventory  11,772     15,072     
     Prepaid expenses and other current assets 2,986     2,700     
         Total current assets 58,040     60,160     
                
     Property, plant and equipment, net 42,448     42,212     
     Intangible assets, net 1,991     3,283     
     Goodwill  4,319     4,319     
     Other assets 399     485     
         Total assets$107,197    $110,459     
    Liabilities and stockholders' deficit     
    Current liabilities:     
     Accounts payable$871    $989     
     Accrued expenses and other current liabilities 4,870     4,324     
     Current portion of debt 7,289     —   
     Liabilities of discontinued operations —   1,172     
         Total current liabilities 13,030     6,485     
     Debt, net  109,265     110,319     
     Other liabilities 313     367     
         Total liabilities 122,608     117,171     
    Stockholders' deficit:     
     Preferred stock, $0.01 par value. 10,000,000 shares authorized,     
      none issued or outstanding —   —   
     Common stock, $0.01 par value. 50,000,000 shares authorized, 23,638,906   
      issued and outstanding at June 30, 2020 and 23,312,928 shares issued and   
      outstanding at December 31, 2019 236     233     
     Additional paid in-capital 204,940     199,938     
     Accumulated deficit (220,587)   (206,883)   
         Total stockholders' deficit (15,411)   (6,712)   
         Total liabilities and stockholders' deficit$107,197    $110,459     
                





    RECRO PHARMA, INC. AND SUBSIDIARIES 
    Consolidated Statements of Operations 
    (Unaudited) 
                     
    (amounts in thousands, except share and per share data)       
                     
             Three months ended Six months ended 
             June 30, June 30, 
             2020  2019  2020  2019  
    Revenue   $15,522    $31,256    $37,299    $56,322     
                     
    Operating expenses:          
     Cost of sales (excluding amortization of  11,634     14,100     29,888     28,491     
      intangible assets)          
     Selling, general and administrative  4,259     5,533     9,705     12,037     
     Amortization of intangible assets  646     646     1,292     1,292     
     Change in warrant valuation  —   1,041     —   779     
      Total operating expenses  16,539     21,320     40,885     42,599     
     Operating income (loss) from continuing operations       (1,017)   9,936     (3,586)   13,723     
    Interest expense  (4,995)   (5,176)   (10,118)   (8,766)   
     (Loss) income from continuing operations  (6,012)   4,760     (13,704)   4,957     
    Loss on discontinued operations  —   (7,596)   —   (9,771)   
     Net loss  $(6,012)  $(2,836)  $(13,704)  $(4,814)   
                     
    Income (loss) per share information:          
     Basic:            
      Continuing operations $(0.25)  $0.21    $(0.58)  $0.22     
      Discontinued operations  —   (0.34)   —   (0.44)   
      Total  $(0.25)  $(0.13)  $(0.58)  $(0.22)   
      Weighted average shares outstanding  23,577,255  22,265,612  23,486,011  22,092,853  
     Diluted:            
      Continuing operations $(0.25)  $0.21    $(0.58)  $0.22     
      Discontinued operations  —   (0.33)   —   (0.43)   
      Total  $(0.25)  $(0.12)  $(0.58)  $(0.21)   
      Weighted average shares outstanding  23,577,255  22,926,402  23,486,011  22,825,910  
                     





            
    Reconciliation of Operating Income, as Adjusted and EBITDA, as Adjusted
            
    To supplement our financial results determined by U.S. generally accepted accounting principles ("GAAP"), we have also disclosed in the tables below the following non-GAAP information for our business:



    Operating income or loss, as adjusted, which is operating income or loss from continuing operations excluding: (i) Recro corporate costs that were not historically segregated and allocated to the CDMO segment; (ii) reduction in force; and (iii) the impact of Accounting Standard Update 2014-09 in order to remove the impact of the timing of revenue recognized from royalties upon transfer of control of the product, which more closely aligns revenue with expected cash receipt.



    EBITDA, as adjusted (Historical - CDMO), which is "operating income or loss, as adjusted" before interest, taxes, depreciation, amortization, warrant market-to-market expense and non-cash stock-based compensation.



    EBITDA, as adjusted (Standalone), which is "EBITDA, as Adjusted (Historical - CDMO) including Recro Corporate costs.



    We believe these non-GAAP financial measures are helpful in understanding our business as it is useful to investors in allowing for greater transparency of supplemental information used by management and is consistent with our historical presentation. "EBITDA, as adjusted (Historical - CDMO)" and "EBITDA, as adjusted (Standalone) is used by investors, as well as management in assessing our performance. Non-GAAP financial measures should be considered in addition to, but not as a substitute for, reported GAAP results. Further, Non-GAAP financial measures, even if similarly titled, may not be calculated in the same manner by all companies, and therefore should not be compared.
            
            
         Three Months Ended June 30,
    (amounts in millions)    2020   2019
            
    Operating (loss) income from continuing operations, as reported $(1.0) $9.9
    exclude: Recro Cash Corporate Costs (a)    1.6   3.2
    exclude: Reduction in force (b)    0.2   -
    less: Revenue recognition (c)    (0.9)  3.0
            
    Operating income (loss), as adjusted    1.7   10.1
            
    Depreciation    1.5   1.5
    Amortization of intangible assets    0.6   0.6
    Stock-based compensation and change in warrants (d)  2.5   2.8
            
    EBITDA, as adjusted (Historical - CDMO)   $6.3  $15.0
    include: Recro Cash Corporate Costs (a)    (1.6)  
    EBITDA, as adjusted (Standalone)   $4.7   
            
            
         Six Months Ended June 30,
    (amounts in millions)    2020   2019
            
    Operating (loss) income from continuing operations, as reported $(3.6) $13.7
    exclude: Recro Cash Corporate Costs (a)    3.8   7.5
    exclude: Reduction in force (b)    1.0   -
    less: Revenue recognition (c)    -   3.0
            
    Operating income, as adjusted    1.2   18.2
            
    Depreciation    3.0   2.8
    Amortization of intangible assets    1.3   1.3
    Stock-based compensation and change in warrants (c)  5.7   4.3
            
    EBITDA, as adjusted (Historical - CDMO)   $11.2  $26.6
    include: Recro Cash Corporate Costs (a)    (3.8)  
    EBITDA, as adjusted (Standalone)   $7.4   
            
    (a) Recro cash corporate costs include costs associated with corporate initiatives and public company costs that were previously included in the Acute Care Segment. As a significant portion of these costs related to a more complex organization with multiple segments, these costs going forward are expected to be in the range of mid to upper single digits, excluding non-cash expenses, such as stock-based compensation, and new initiatives as they relate to our operations as a stand-alone public company.
            
    (b) In the first half of 2020, two reductions in force were executed that affected approximately 15% of the work force and were

    driven by lower commercial volumes.
            
    (c) Impact of adoption of Accounting Standard Update 2014-09, "Revenue Recognition," starting January 2018.
            
    (d) Stock-based compensation (including corporate employees) and non-cash changes in warrant valuations. Due to the

    exercise of remaining liability-classified warrants in 2019, warrant valuations were only applicable for 2019.
            
      

    Primary Logo

    View Full Article Hide Full Article
  2. MALVERN, Pa., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Recro Pharma, Inc. (NASDAQ:REPH), a leading contract development and manufacturing organization (CDMO), with integrated solutions for development, formulation, regulatory support, manufacturing and packaging of oral solid dose drug products, today announced that it will report second quarter 2020 financial results on Monday, August 10, 2020. Recro's management team will host a conference call and audio webcast at 8:00 a.m. ET on Monday, August 10, 2020 to discuss the financial results and recent operational highlights.

    To access the conference call please dial (844) 243-4691(local) or (225) 283-0379 (international) at least 10 minutes prior to the start time and refer to conference ID 2777659…

    MALVERN, Pa., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Recro Pharma, Inc. (NASDAQ:REPH), a leading contract development and manufacturing organization (CDMO), with integrated solutions for development, formulation, regulatory support, manufacturing and packaging of oral solid dose drug products, today announced that it will report second quarter 2020 financial results on Monday, August 10, 2020. Recro's management team will host a conference call and audio webcast at 8:00 a.m. ET on Monday, August 10, 2020 to discuss the financial results and recent operational highlights.

    To access the conference call please dial (844) 243-4691(local) or (225) 283-0379 (international) at least 10 minutes prior to the start time and refer to conference ID 2777659. A live audio webcast of the call will be available under "Events" in the Investor section of the Company's website, www.recrocdmo.com. An archived webcast will be available on the Company's website approximately two hours after the event and will be available for 30 days.

    About Recro

    Recro is a contract development and manufacturing, or CDMO, business, with integrated solutions for development, formulation, regulatory support, manufacturing and packaging of oral solid dose drug products with operations located in Gainesville, GA. The Company leverages its formulation expertise to develop and manufacture pharmaceutical products using proprietary delivery technologies and other manufacturing services for commercial and development-stage partners who commercialize or plan to commercialize these products. For more information see www.recrocdmo.com.

    Cautionary Statement Regarding Forward Looking Statements

    This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  These statements, among other things, relate to the Company's ability to manage costs and to achieve its financial goals; to operate under increased leverage and associated lending covenants; to pay its debt under its credit agreement and to maintain relationships with CDMO commercial partners and develop additional commercial partnerships. The words "anticipate", "believe", "could", "estimate", "upcoming", "expect", "intend", "may", "plan", "predict", "project", "will" and similar terms and phrases may be used to identify forward-looking statements in this press release.  Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Factors that could cause the Company's actual outcomes to differ materially from those expressed in or underlying these forward-looking statements include the ongoing economic and social consequences of the COVID-19 pandemic, including any adverse impact on the customer ordering patterns or disruption in raw materials or supply chain; demand for the Company's services, which depends in part on customers' research and development and the clinical plans and market success of their products; customers' changing inventory requirements and manufacturing plans; customers and prospective customers decisions to move forward with the Company's manufacturing services; the average profitability, or mix, of the products the Company manufactures; the Company's ability to enhance existing or introduce new services in a timely manner; fluctuations in the costs, availability, and suitability of the components of the products the Company manufactures, including active pharmaceutical ingredients, excipients, purchased components and raw materials, or the Company's customers facing increasing or new competition. These forward-looking statements should be considered together with the risks and uncertainties that may affect our business and future results presented herein along with those risks and uncertainties discussed in our filings with the Securities and Exchange Commission at www.sec.gov.  These forward-looking statements are based on information currently available to us, and we assume no obligation to update any forward-looking statements except as required by applicable law.

    Contacts

    Investor Relations Contacts:

    Argot Partners

    Sam Martin / Claudia Styslinger

    (212) 600-1902



    Recro

    Ryan D. Lake

    (484) 395-2436

    Media Contact:

    Argot Partners

    David Rosen

    (212) 600-1902

    Primary Logo

    View Full Article Hide Full Article
  3. Company Owns and Operates Over 120,000 Square Feet of U.S. cGMP and DEA-Licensed Contract Development and Manufacturing Facilities Focused on Creating Oral, Solid Dose Drug Products

    Long, Proven Track Record of Successful Commercial Drug Product Manufacturing, Serving Both Large Pharma and Emerging Companies

    GAINESVILLE, Ga., June 11, 2020 (GLOBE NEWSWIRE) -- Recro Gainesville, Inc. (NASDAQ:REPH), a leading contract development and manufacturing organization (CDMO), with integrated solutions for the development, formulation, regulatory support, manufacturing and packaging of oral solid dose drug products, today highlighted its readiness and available capacity to secure new oral drug product manufacturing contracts for its CDMO facilities…

    Company Owns and Operates Over 120,000 Square Feet of U.S. cGMP and DEA-Licensed Contract Development and Manufacturing Facilities Focused on Creating Oral, Solid Dose Drug Products

    Long, Proven Track Record of Successful Commercial Drug Product Manufacturing, Serving Both Large Pharma and Emerging Companies

    GAINESVILLE, Ga., June 11, 2020 (GLOBE NEWSWIRE) -- Recro Gainesville, Inc. (NASDAQ:REPH), a leading contract development and manufacturing organization (CDMO), with integrated solutions for the development, formulation, regulatory support, manufacturing and packaging of oral solid dose drug products, today highlighted its readiness and available capacity to secure new oral drug product manufacturing contracts for its CDMO facilities in Gainesville, GA. In support of future commercial growth Recro Gainesville is installing a 400 liter high shear granulator and a 420 liter fluid bed dryer. Both will be operational in the fourth quarter of 2020. These additions are aligned with Recro's strategy to provide end to end services from development to commercial in the oral solid dosage forms.  

    Recro owns and operates a 97,000 square foot, DEA-licensed CDMO facility designed to provide customers with a broad range of CDMO services, from benchtop through commercialization. Recro's facility houses development and manufacturing space focused on creating unique oral dosage forms, solving formulation, process and analytical issues, as well as clinical trial supply manufacturing and related services. Recro also operates a specialized, 24,000 square foot space with dedicated suite areas for high potency and for early stage drug product manufacturing.

    "Recro has a 20-year track record of successful solid oral drug product manufacturing, including tablets, capsules, sustained-release and extended-release formulations, among others," said Gerri Henwood, CEO of Recro.  "We also have a long, established history of on time, in full delivery of important development stage and commercial products and development milestones for large pharma and emerging life science companies.  As we work to navigate through these challenging times, Recro stands ready with our development and manufacturing expertise, broad capabilities and available U.S. capacity to serve our current clients and potential future customers."

    To learn more about Recro's CDMO capabilities, visit recrogainesville.com.

    About Recro

    Recro is a contract development and manufacturing, or CDMO, business, located in Gainesville, GA. The Company leverages its formulation expertise to develop and manufacture pharmaceutical products using its proprietary delivery technologies and other manufacturing services for commercial and development-stage partners who commercialize or plan to commercialize these products. These collaborations can result in revenue streams including royalties, profit sharing, research and development and manufacturing fees, which support continued operations for the business. For more information please visit www.recrogainesville.com.

    Cautionary Statement Regarding Forward Looking Statements

    This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements reflect Recro's expectations about its future performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "may," "upcoming," "plan," "target," "intend" and "expect" and similar expressions, as they relate to Recro or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information available to Recro as of the date of this press release and are subject to a number of risks, uncertainties, and other factors that could cause Recro's performance to differ materially from those expressed in, or implied by, these forward-looking statements. The following are some of the factors that could cause our actual results to differ materially from those expressed in or underlying our forward-looking statements: the ongoing economic and social consequences of the COVID-19 pandemic, including any adverse impact on the customer ordering patterns or disruption in raw materials or supply chain; demand for our services, which depends in part on our customers' research and development and the clinical plans and market success of their products; our customers' changing inventory requirements and manufacturing plans; customers and prospective customers decisions to move forward with our manufacturing services; average profitability, or mix, of the products we manufacture; our ability to enhance existing or introduce new services in a timely manner; fluctuations in the costs, availability, and suitability of the components of the products we manufacture, including active pharmaceutical ingredients, excipients, purchased components and raw materials; or customers facing increasing or new competition. This list of important factors is not all inclusive. Recro assumes no obligation to update any such forward-looking statements. Factors that could cause Recro's actual performance to materially differ from those expressed in the forward-looking statements set forth in this press release include, without limitation, the risks and uncertainties included in Recro's filings with the Securities and Exchange Commission at www.sec.gov.

    Contacts

    Investor Relations Contact:

    Argot Partners

    Sam Martin / Claudia Styslinger

    (212) 600-1902



    Recro

    Ryan D. Lake

    (484) 395-2436

    Media Contact:

    Argot Partners

    David Rosen

    (212) 600-1902

    Primary Logo

    View Full Article Hide Full Article
  4. NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Recro Pharma, Inc. ("Recro Pharma" or the "Company") (NASDAQ:REPH). This investigation concerns whether Recro Pharma has violated federal securities laws and/or engaged in other unlawful business practices.

    On May 11, 2020, Recro Pharma reported worse-than-expected financial results for the first quarter and revised its 2020 revenue guidance down from a range of $97-100 million to a range of $80-85 million. In revising its guidance, Recro Pharma cited several factors, including: (i) increased competition by one of the Company's key customer's competitors, (ii) slower than expected new business growth primarily attributable…

    NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Recro Pharma, Inc. ("Recro Pharma" or the "Company") (NASDAQ:REPH). This investigation concerns whether Recro Pharma has violated federal securities laws and/or engaged in other unlawful business practices.

    On May 11, 2020, Recro Pharma reported worse-than-expected financial results for the first quarter and revised its 2020 revenue guidance down from a range of $97-100 million to a range of $80-85 million. In revising its guidance, Recro Pharma cited several factors, including: (i) increased competition by one of the Company's key customer's competitors, (ii) slower than expected new business growth primarily attributable to COVID-19, and (iii) notifications by two customers of discontinuations for two commercial product lines.

    On this news, Recro Pharma shares fell $3.34, or 39.6%,to close at $8.42 per share on May 11, 2020.

    If you acquired Recro Pharma securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at , or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

    Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, and whistleblower litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website: www.kmllp.com.

    This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

    Contacts
    Kirby McInerney LLP
    Thomas W. Elrod, Esq.
    (212) 371-6600

    www.kmllp.com

    Primary Logo

    View Full Article Hide Full Article
  5. BOSTON, May 11, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that it has launched an investigation into potential securities fraud by Recro Pharma Inc. (NASDAQ:REPH) and certain of its officers. Investors who have lost money are encouraged to contact the firm for a free case evaluation

    Recro Pharma today reported worse-than-expected financial results for the first quarter and revised its 2020 revenue guidance down from a range of $97-100 million to a range of $80-85 million. In revising its guidance, Recro Pharma cited several factors, including: (1) increased competition by one of the Company's key customer's competitors, (2) slower than expected new business growth primarily…

    BOSTON, May 11, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that it has launched an investigation into potential securities fraud by Recro Pharma Inc. (NASDAQ:REPH) and certain of its officers. Investors who have lost money are encouraged to contact the firm for a free case evaluation

    Recro Pharma today reported worse-than-expected financial results for the first quarter and revised its 2020 revenue guidance down from a range of $97-100 million to a range of $80-85 million. In revising its guidance, Recro Pharma cited several factors, including: (1) increased competition by one of the Company's key customer's competitors, (2) slower than expected new business growth primarily attributable to COVID-19, and (3) notifications by two customers of discontinuations for two commercial product lines.

    On this news, shares of Recro Pharma common stock plummeted by approximately 40%, down from an opening price of $8.42 per share to close at just $5.08 per share.

    If you purchased or acquired shares of Recro Pharma and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at , or at https://shareholder.law/recro

    Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.

    This notice may constitute attorney advertising.

    CONTACT:
    BLOCK & LEVITON LLP
    260 Franklin St., Suite 1860
    Boston, MA 02110
    Phone: (617) 398-5600
    Email:
    SOURCE: Block & Leviton LLP
    www.blockesq.com

    Primary Logo

    View Full Article Hide Full Article
View All Recro Pharma Inc. News