Adamas Pharma (ADMS) Tops Q1 EPS by 15c

Adamas Pharma (NASDAQ: ADMS) reported Q1 EPS of ($0.36), $0.15 better than the analyst estimate of ($0.51). Revenue for the quarter came in at $19.3 million versus the consensus estimate of $20.02 million.

As of March 31, 2021, Adamas had $127.4 million of cash, cash equivalents and available-for-sale securities, compared to $83.4 million at December 31, 2020. During the first quarter of 2021, Adamas raised net proceeds of approximately $7.2 million under an at-the-market offering. In addition, in February 2021, Adamas sold 14,375,000 shares of its common stock through an underwritten public offering at a price of $4.40 per share, resulting in net proceeds to Adamas of approximately $59.3 million.

“Our commercial execution is effectively raising awareness of GOCOVRI and its expanded label, enabling more patients, caregivers and physicians to make GOCOVRI their treatment of choice in Parkinson’s related motor complications,” said Neil F. McFarlane, Chief Executive Officer. “We are also delighted to expand our commercial footprint beyond Parkinson’s disease, leveraging OSMOLEX ER to benefit patients with drug-induced extrapyramidal reactions. Despite continued market disruption, the growth of our products and our strong cash position gives us confidence in our ability to deliver long-term shareholder value.”

For earnings history and earnings-related data on Adamas Pharma (ADMS) click here.

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