Horizon reports strong Q1; ups revenue guidance on rapid uptake of Tepezza

Horizon Therapeutics (HZNP) Q1 results:

Revenues: $355.9M (+26.9%); R&D Expense: $245.4M (+47.4%).

Tepezza (teprotumumab-trbw) Q1 net sales of $23.5M driven by strong demand and launch execution.

Orphan and Rheumatology Segment: Krystexxa: $93.3M (+78%); Ravicti: $61.2M (+23%); Procysbi: $38.3M (-3%); Actimmune: $26.5M (+22%); Buphenyl: $2.3M (-16%); Quinsair: $0.3M (+64%).

Net loss: ($13.6M) (+58.7%); loss/share: ($0.07) (+63.2%); non-GAAP Net Income: $83.2M (+54.4%); non-GAAP EPS: $0.40 (+33.3%).

Non-GAAP EBITDA: $107.2M (+21.3%).

CF Ops: ($62.6M).

2020 Guidance: Revenues: $1.40B – 1.45B from $1.40B – 1.42B; Non-GAAP EBITDA: $450M – 500M from $485M – 500M; Tepezza sales: >$200M from $30M – 40M.

The company announced the addition of two new Tepezza pipeline programs.

Shares are up 7% premarket.

Previously: Horizon Pharma EPS beats by $0.19, beats on revenue (May 6)

https://seekingalpha.com/news/3570013-horizon-reports-strong-q1-raises-revenue-guidance-due-to-rapid-uptake-of-tepezza