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Neos Therapeutics Reports Fourth Quarter and Year-End 2019 Financial Results

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

– Full year 2019 net revenues increased by 29% and operating loss decreased by $33M –
– Neos RxConnect rapidly expanded with ~500 pharmacies in network at year-end –– NT0502 Phase 1 ascending dose trial initiation planned in 2H20 following top-line PK data –– Company to host conference call today at 8:30am ET –DALLAS and FORT WORTH, Texas, March 13, 2020 (GLOBE NEWSWIRE) — Neos Therapeutics, Inc. (Nasdaq: NEOS), a commercial-stage pharmaceutical company developing and manufacturing central nervous system-focused products, today reported financial results for the fourth quarter and fiscal year ended December 31, 2019 and provided a business update.“We made tremendous strides in 2019, following the reset of our commercial strategy for our ADHD portfolio, which resulted in an improvement to the financial foundation of the company. In particular, we realized a 29% increase in net revenues for the full year of 2019 compared to 2018 and through our focus on operational productivity and expense management, we reduced our operating loss by approximately $33 million compared to 2018. During the year, we established and rapidly grew our proprietary Neos RxConnect patient support program to approximately 500 pharmacies. As we look forward, we are confident in the outlook for 2020 and beyond,” said Jerry McLaughlin, president and chief executive officer. “We are also extremely pleased to now have top-line results from the NT0502 Phase 1 pilot pharmacokinetic study, and we plan to initiate an ascending dose study in the second half of the year. We believe NT0502 has the potential to address a significantly underserved patient population of individuals struggling with chronic sialorrhea, otherwise known as excessive drooling, across numerous debilitating CNS disorders.”ADHD Commercial FranchiseIncreased net revenue per pack by over 30 percent: Neos reported growth in net product sales and net revenue per pack for its two core commercial attention deficit hyperactivity disorder (ADHD) products, Adzenys XR-ODT® and Cotempla XR-ODT®, for the three months ended December 31, 2019 compared to the same period in 2018.

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