Earnings Review: Innocoll Holdings plc (INNL)

Innocoll Holdings plc (NASDAQ:INNL) reported earnings for the three months ended March 2016 on May 31, 2016. The company earned $-0.07 per share on revenue of $1.56M. Analysts had been modeling earning per share of $-0.74 with $0.99M in revenue.

Innocoll Holdings plc (NASDAQ:INNL) announced financial and operating results for the three months ended March 31, 2016. We manufacture and supply a range of pharmaceutical products and medical devices using our proprietary collagen-based biodegradable and fully bioresorbable technology platform.

First Quarter 2016 and Recent Highlights

  • XARACOLL’s highly statistically significant results make it the first long-acting, opioid-sparing, local analgesic to meet primary endpoints of Phase 3 clinical trials in hernia repair, a highly painful and commonly performed surgery. The data supports an on-schedule NDA filing this year. The results validate the Innocoll technology platform, and we are on schedule to deliver COGENZIA top-line data by Q3 or early Q4.
  • Completed re-domiciliation on March 16th to become an Irish-incorporated company, Innocoll Holdings plc. The move facilitates access to the financial market and reduces operating costs compared to operating under German Corporate law. As part of the process, we converted our accounting from IFRS to U.S. GAAP and the functional currency from Euro to U.S. dollars. All financial information will now be reported under U.S. GAAP and U.S. dollar, and detailed schedules are available as part of our 6-K filing schedules.
  • Transitioned NASDAQ listing via the exchange of ADSs of the company’s predecessor, Innocoll AG, for ordinary shares of Innocoll Holdings plc, listed directly on NASDAQ under the same “INNL” trading symbol.
  • Secured availability of the second tranche of €10 million from the European Investment Bank (EIB) as we achieved the criteria of delivering against the primary end point of the XARACOLL Phase 3 clinical studies. The planned drawdown will add to our current cash position, extending our cash runway towards the COGENZIA data read-out.
  • Appointed Lesley Russell, MBChB, MRCP as Chief Medical Officer, to manage all development programs as well as medical and regulatory affairs for the company.

Innocoll Holdings plc earnings per share showed a decreasing trend of -87% for the current fiscal year. The company’s expected EPS decline rate for next fiscal year is -151%.Analysts project EPS decline over the next 5 years at 0%. It has EPS annual decline over the past 5 fiscal years of 0% when sales declined 0. It reported 128.6% sales growth, and -209% EPS decline in the last quarter.

The stock is trading at $5.5, up 2.42% from 52-week low of $5.37. The stock trades down -63.93% from its peak of $15.25 and 236.36% above the consensus price target of $18.5. Its volume clocked up at 0.15 million shares which is higher than the average volume of 0.06 million shares. Its market capitalization currently stands at $129.66M.

Bookmark the permalink.

Comments are closed.