Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) stock rose over 1.2% on 25th April, 2019 (as of 1:33 pm GMT-4; Source: Google finance) after the company posted better than expected results for the first quarter of FY 19.
ALXN in the first quarter of FY 19 has reported the adjusted earnings per share of $2.39, beating the analysts’ estimates for the adjusted earnings per share of $2.21, as per the analysts polled by FactSet. The company had reported the adjusted revenue growth of 23 percent to $1.14 billion in the first quarter of FY 19, beating the analysts’ estimates for revenue of $1.13 billion. Total net product sales were $1,140.2 million in the first quarter of 2019, compared to $930.4 million in the first quarter of 2018.
Moreover, SOLIRIS (eculizumab) net product sales were $962.0 million, compared to $800.1 million in the first quarter of 2018, representing a 20 percent increase. ULTOMIRIS (ravulizumab-cwvz) net product sales were $24.6 million in its first full quarter since FDA approval. STRENSIQ (asfotase alfa) net product sales were $130.1 million, compared to $110.7 million in the first quarter of 2018, representing an 18 percent increase. KANUMA (sebelipase alfa) net product sales were $23.5 million, compared to $19.6 million in the first quarter of 2018, representing a 20 percent increase.
For the full year Alexion expects per-share earnings of $6.76 to $7.96, or $9.25 to $9.45 as adjusted, on revenue of $4.68 billion to $4.75 billion. The company had expected per-share earnings of $6.14 to $7.26, or $9.10 to $9.30 as adjusted, on $4.63 billion to $4.7 billion in revenue.
Meanwhile, in March 2019, Alexion has announced the development of ALXN1720, a novel anti-C5 albumin-binding bi-specific mini-body that binds and prevents activation of human C5. Alexion plans to initiate a first-in-human study of ALXN1720 in late 2019. In March 2019, the company began a collaboration with Zealand Pharma A/S to discover and develop novel peptide therapies for up to four targets in the complement pathway. Peptides offer a number of advantages, including being highly selective and potent, allowing low dosage volumes for ease of administration, and having the potential to treat a broad range of complement-mediated diseases. Alexion is collaborating with Dicerna Pharmaceuticals to jointly discover and develop up to four subcutaneously delivered GalXC RNA interference (RNAi) candidates, currently in pre-clinical development, for the treatment of complement-mediated diseases. Alexion is collaborating with Complement Pharma to co-develop CP010, a pre-clinical C6 inhibitor that has the potential to treat multiple neurological disorders.