SmileDirectClub to support teledentistry via sale of at-home kits to providers

Aimed at supporting the increased use of telehealth during the pandemic, SmileDirectClub (SDC +4.0%) will now sell its at-home impression kits to dentists and orthodontists enabling them to remotely provide oral care to patients.

The company will ship the kits directly to patients pursuant to the receipt of prescriptions and will have prepaid return labels to their providers’ offices.

https://seekingalpha.com/news/3571258-smiledirectclub-to-support-teledentistry-via-sale-of-home-kits-to-providers

Rite Aid expands COVID-19 testing to include asymptomatics

Rite Aid (RAD +5.4%) announces the addition of 46 no-charge sample collection sites, most via drive-through windows, increasing the total number of sites to 71 (up from 25 sites in late April).

It has also expanded the COVID-19 testing criteria for adults (at least 18 years old) to include asymptomatic people.

https://seekingalpha.com/news/3571273-rite-aid-expands-covidminus-19-testing-to-include-asymptomatics

Lannett down after FQ3 earnings miss, guidance cut

Lannett Company (LCI -18.9%) fiscal Q3 results:

Net sales: $144.4M (-16.4%).

Net loss: ($16.6M) (-256.7%); non-GAAP net income: $11.7M (-56.0%); loss/share: ($0.43) (-259.3%); non-GAAP EPS: $0.27 (-60.3%).

Non-GAAP EBITDA: $35.9M.

2020 guidance: Net sales: $535M – 545M from $530M – 550M; non-GAAP EBITDA: $137M – 147M from $145M – 160M.

Lannett EPS misses by $0.01, beats on revenue

https://seekingalpha.com/news/3571283-lannett-down-after-fq3-earnings-miss-guidance-cut

Tonix Pharma secures rights to three COVID-19 vaccine candidates

Tonix Pharmaceuticals (TNXP +4.7%) inks an agreement with the University of Alberta for exclusive rights to three COVID-19 vaccine candidates, dubbed TNX-1810, TNX-1820 and TNX-1830, all based on a horsepox vector platform and designed to elicit almost 100% T cell responses.

The parties will collaborate on development.

Financial terms remain confidential.

https://seekingalpha.com/news/3571302-tonix-pharma-secures-rights-to-three-covidminus-19-vaccine-candidates

Gilead confirms remdesivir approval in Japan for severe COVID-19

Under exceptional (emergency use) status, Japan’s Ministry of Health, Labor and Welfare has approved Gilead Sciences’ (GILD +0.4%) remdesivir, branded as Veklury, for the treatment of severely ill COVID-19 patients.
https://seekingalpha.com/news/3571333-gilead-confirms-remdesivir-approval-in-japan-for-severe-covidminus-19

Stericycle up 6% post Q1 results; withdraws FY20 guidance

Stericycle (SRCL +6.2%) reported revenue decline of 5.4% Y/Y to $785M, and organic increase of 2.4% Y/Y.

Revenue by services: Regulated Waste and Compliance $ 467.3M (-0.4% Y/Y); Secure Information Destruction $ 218.1M (-6% Y/Y); Communication and Related $ 33.6M (-45.1% Y/Y); and Manufacturing and Industrial $66M (-2.5% Y/Y).

Revenue by segments: North America $627.5M (-0.6% Y/Y); International $130.4M (-12.2% Y/Y); and Others $27.1M (-4 5.8Y/Y).

Q1 Gross margin improved by 70 bps to 36.5%.

Loss from operations expanded to $30.4M for the quarter, compared to $4.2M a year ago.

Cash flow from operations was $82.1M, compared to $36.2M a year ago.  Free Cash Flow was $42.5M, compared to an outflow of $29.9M a year ago.

Company witnessed business impact of the economic shut-down due to COVID-19 during March, primarily in their secure information destruction services.

Stericycle has withdrawn its FY20 financial guidance, due to uncertainties caused by COVID-19 pandemic.

Previously: Raymond James likes Amgen in premarket analyst action (March 30)

Previously: Stericycle EPS misses by $0.08, misses on revenue (May 7)

https://seekingalpha.com/news/3571385-stericycle-up-6-post-q1-results-withdraws-fy20-guidance

AmerisourceBergen EPS beats by $0.13, beats on revenue

AmerisourceBergen (NYSE:ABC): Q2 Non-GAAP EPS of $2.40 beats by $0.13; GAAP EPS of $4.64 beats by $3.60.

Revenue of $47.42B (+9.5% Y/Y) beats by $1.52B.

Press Release

https://seekingalpha.com/news/3570950-amerisourcebergen-eps-beats-0_13-beats-on-revenue