Eagle Pharmaceuticals Inc (NASDAQ:EGRX) made public its earnings results for the fourth quarter of 2014 and the company ended up with a loss for the period. The company recently changed its fiscal year and because of that it is reporting a “stub” quarter. The quarter is still three months but previously their year ended at the end of September but was changed to end on December 30. The first quarter will be reported in May of 2015.Total revenue came in at $5.6 million. The company showed a net loss for the quarter of $5.5 million.
The company gained about half a million dollars in sales from its RYANODEX product. The new item was launched in August of 2014 and has been a steady contributor. Sales from the product has steady increased since its initial release. Eagle Pharmaceuticals Inc (NASDAQ:EGRX) pumped more money into R&D than it did in the same period which is critical to creating future products in the company’s pipeline. One item in particular is a rapid infusion bendamustine product. Eagle has made an agreement with Teva to bring the product to market All the proper paperwork has been filed and the company expects a review as soon as August.
Eagle Pharmaceuticals Inc (NASDAQ:EGRX) is sitting on about $34 million in cash and equivalents. This keeps them properly positioned to capitalize on opportunities involving the development and approval of products in their portfolio. That amount grew when compared to the previous quarter and is a sign of good liquidity. Eagle operates in the specialty pharmaceutical industry and develops injectable products. The remedies cover a wide variety of ailments. They also look for deficiencies in other injectable products and try to address those issues profitably.
The stock exploded and there is no natural resistance at this point. It needs to start building a support level and that is accomplished through some sideways trading. All the indicators are healthy so there is little risk of a sizeable pullback from this point.