Molina Q2 solid despite consensus miss, ytd cash flow ops up 380%

Molina Healthcare (NYSE:MOH) Q2 results:

Revenue: $4,618M (+10.1%); premiums: $4,372M (+8.0%).

Net income: $276M (+40.8%); EPS: $4.65 (+52.0%); non-GAAP EPS: $4.79 (+61.8%).

Cash flow ops (6 mo.): $749M (+380.1%).

Medical care ratio: 82.3% (-3.9%). Improvement due to reduced services demand during the pandemic.

2020 guidance: Revenue: $18.8B from 18.3B; premiums revenue: $21.5B; EPS: $11.20 – 11.70 (unch).

https://seekingalpha.com/news/3598094-molina-q2-solid-despite-consensus-miss-ytd-cash-flow-ops-up-380

Select Medical EPS beats by $0.30, beats on revenue

July 30, 2020

Select Medical (NYSE:SEM): Q2 Non-GAAP EPS of $0.38 beats by $0.30; GAAP EPS of $0.39 beats by $0.33.

Revenue of $1.23B (+90341.2% Y/Y) beats by $80M.

https://seekingalpha.com/news/3598082-select-medical-eps-beats-0_30-beats-on-revenue

Opko Health Q2 top line up 33% on surge in reference lab unit

OPKO Health (NASDAQ:OPK) Q2 results:

Revenues: $301.2M (+33.0%); reference lab services: $251.0M (+40.6%); product sales: $29.3M (+2.1%).

Net income: $33.7M (+156.4%); EPS: $0.05 (+150.0%).

BioReference Labs unit processed ~2.2M COVID-19 molecular tests during the quarter.

https://seekingalpha.com/news/3598047-opko-health-q2-top-line-up-33-on-surge-in-reference-lab-unit

Gilead Q2 top line, non-GAAP earnings down on pandemic disruptions

Gilead Sciences (NASDAQ:GILD) Q2 results:

Total revenues: $5,143M (-9.5%); product sales: $5,067M (-9.7%); HIV: $4,000M (-1.0%).

Sales were pressured by pandemic-related disruptions affecting HCV products and generic encroachment on Letairis and Ranexa.

Top sellers: Biktarvy: $1,604M (+43.7%); Genvoya: $816 (-16.7%); Truvada: $387M (-46.1%); Yescarta: $156M (+30.0%).

Net income: ($3,339M) (-277.6%); non-GAAP net income: $1,400M (-36.2%); EPS: ($2.66) (-281.0%); non-GAAP EPS: $1.11 (-35.5%).

2020 guidance: Product sales: $23.0B – 25.0B from 21.8B – 22.2B; EPS: $0.83 – 2.23 from $5.15 – 5.55; non-GAAP EPS: $6.25 – 7.65 from $6.05 – 6.45.

https://seekingalpha.com/news/3597943-gilead-q2-top-line-down-10-non-gaap-earnings-down-36-from-pandemic-disruptions

Vertex posts strong Q2 on robust Trikafta sales

Vertex Pharmaceuticals (NASDAQ:VRTX) Q2 results:

Total product sales: $1,524M (+62.1%); Trikafta: $918M; Orakambi: $232M (-26.6%); Kalydeco: $203M (-22.5%); Symdeko/Symkevi: $172M (-52.5%).

Net income: $837M (+213.5%); non-GAAP net income: $687M (+110.1%); EPS: $3.18 (+208.7%); non-GAAP EPS: $2.61 (+107.1%).

2020 guidance: Product sales: $5.7B – 5.9B from $5.3B – 5.6B.

https://seekingalpha.com/news/3598073-vertex-posts-strong-q2-on-robust-trikafta-sales

Denali, Sanofi launch early-stage study on DNL758 in COVID-19

Denali Therapeutics (DNLI +1.5%) announces that collaboration partner Sanofi (SNY -0.7%) has started dosing in a Phase 1b clinical trial evaluating DNL758 (dubbed SAR443122 by Sanofi) in hospitalized patients with severe COVID-19 lung disease.

Small molecule DNL758 inhibits an enzyme called receptor-interacting serine/threonine-protein kinase 1 (RIPK1) that plays a key role in inflammation and cell death.

The companies’ partnership, inked in October 2018, is aimed at developing, manufacturing and commercializing RIPK1 inhibitors in neurological and systemic inflammatory diseases.

https://seekingalpha.com/news/3597888-denali-announces-launch-of-early-stage-study-dnl758-in-covidminus-19

Precipio up big on launch of COVID-19 blood test

Nano cap Precipio (PRPO +422.8%) rockets up on a whopping 61x surge in volume in reaction to its agreement with ADS Biotec to distribute its COVID-19 antibody blood test worldwide.

Precipio will initially offer the test as a service in its CLIA lab starting in August with a subsequent rollout to doctors’ offices as a point-of-care assay followed by distribution via retail channels for at-home direct-to-consumer use.

https://seekingalpha.com/news/3597897-precipio-up-big-on-launch-of-covidminus-19-blood-test