Valeritas Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Financial Guidance for the Fourth Quarter and Reiterates Revenue Guidance for the Full Year 2017
November 08, 2017 at 04:11 pm EST
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Valeritas Holdings Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenue, net of $5,065,000 against $4,860,000 a year ago. Operating loss was $9,864,000 against $7,655,000 a year ago. Loss before income taxes was $10,578,000 against $9,157,000 a year ago. Net loss was $10,578,000 against $9,157,000 a year ago. Net loss per share of common shares outstanding - basic and diluted was $1.62 compared to $5.78 a year ago.
For the nine months, the company reported revenue, net of $14,464,000 against $14,754,000 a year ago. Operating loss was $31,244,000 against $25,378,000 a year ago. Loss before income taxes was $34,366,000 against $36,521,000 a year ago. Net loss was $34,366,000 against $36,521,000 a year ago. Net loss per share of common shares outstanding - basic and diluted was $6.74 compared to $34.84 a year ago.
The Company expects positive trends to continue in the fourth quarter of 2017. The company continues to expect its fourth quarter of 2017 gross margin to exceed 40%.
The company reiterates expectation for full-year 2017 revenue to reach $20 million.
Valeritas Holdings, Inc. is a United States-based medical technology company. The Company's product, V-Go Wearable Insulin Delivery device (V-Go), is a wearable, basal-bolus insulin delivery device for adult patients requiring insulin that enables patients to administer a continuous preset basal rate of insulin over 24 hours. V-Go is a small wearable and completely disposable insulin delivery device that a patient adheres to his or her skin every 24 hours. V-Go enables patients to closely mimic the body's normal physiologic pattern of insulin delivery throughout the day and to manage their diabetes with insulin without the need to plan a daily routine around multiple daily injections. It has developed V-Go utilizing its h-Patch platform as a patient-focused solution to address insulin therapies. Its h-Patch platform facilitates the subcutaneous delivery of injectable medicines to patients across a range of therapeutic areas.
Valeritas Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Financial Guidance for the Fourth Quarter and Reiterates Revenue Guidance for the Full Year 2017
VALERITAS HOLDINGS, INC. 