Alexion Pharma Q1 top-line up 27%; clinical trials halted due to COVID-19

Alexion Pharmaceuticals (ALXN) Q1 results:

Revenues: $1,444.8M (+26.7%); Soliris: $1,022.9M (+6.3%); Ultomiris: $222.8M; Strensiq: $172.2M (+32.4%); Kanuma: $26.7M (+13.6%).

Net Income: $557.6M (-5.2%); EPS: $2.5 (-4.2%); non-GAAP Net Income: $727.5M (+33.4%); non-GAAP EPS: $3.22 (+34.7%).

CF Ops: $549.6M (+27.8%).

2020 Guidance: Revenues: $5,230M – 5,330M from $5,500M – 5,560M; Soliris/Ultomiris revenues: $4,495M – 4,570M from $4,755M – 4,800M; EPS: $8.14 – 8.47 from $7.91 – 8.71; non-GAAP EPS: $10.45 – 10.75 from $10.65 – 10.85.

Due to COVID-19, the company has temporarily paused the Phase 2 study of ALXN1830, administered intravenously, as well as the Phase 1 study of a subcutaneous formulation of ALXN1830 in healthy volunteers. These trials and the planned Phase 2 study of subcutaneous ALXN1830 in gMG are anticipated to begin in 2021.

Alexion plans to initiate a Phase 3 study of ALXN2040 as an add-on therapy for PNH patients with EVH by the end of 2020.

Phase 2 studies of ALXN2040 in C3G is underway. Interim data are expected in Q2.

Due to COVID-19, Phase 1 healthy volunteer study of ALXN1720 is also temporarily paused.

Previously: Alexion Pharmaceuticals EPS beats by $0.51, beats on revenue (May 6)

https://seekingalpha.com/news/3569982-alexion-pharma-q1-top-line-up-27-clinical-trials-halted-due-to-covidminus-19