Acorda Therapeutics Inc., of New York, reported net revenue of $4.4 million for Parkinson’s drug Inbrija (levodopa inhalation powder) and net revenue of $20.1 million for multiple sclerosis drug Ampyra (dalfampridine) in the first quarter. Those figures compare to $1.3 million and $40.1 million for the same period in 2019, with Acorda attributing the drop in Ampyra sales to the loss of exclusivity in September 2018. Ampyra revenue is expected to continue to decline, the company said. Acorda also withdrew its 2020 net revenue guidance for Inbrija, citing a decline in physician visits due to COVID-19, but said it still expects Inbrija peak sales to be between $300 million and $500 million. For the first quarter, Acorda reported a GAAP net loss of $6.5 million, or 14 cents per share, and a non-GAAP net loss of $24.4 million, or 51 cents per share. As of March 31, the company had cash, equivalents, short-term investments and restricted cash of $126.3 million. Shares of Acorda (NASDAQ:ACOR) closed May 6 at 86 cents.
Alexion Pharmaceuticals Inc., of Boston, reported total revenue of $1.44 billion for the first quarter, a 27% increase over the same period in 2019. Sales of complement inhibitor Soliris (eculizumab) were $1.023 billion, up 6% over the prior year, while sales of Ultomiris (ravulizumab), its longer-acting version of the complement inhibitor, totaled $222.8 million. Sales of hypophosphatasia drug Strensiq (asfotase alfa) totaled $172.2 million, up 32% over the same period in 2019, while enzyme replacement therapy Kanuma (sebelipase alfa) increased 14% over the prior year, with sales of $26.7 million. On a GAAP basis, Alexion reported diluted earnings per share (EPS) of $2.50 for the first quarter. Non-GAAP EPS was $3.22. Looking ahead, the company updated its guidance for the year, now anticipating total revenues to fall in the range of $5.23 billion to $5.33 billion vs. the prior range of $5.5 billion to $5.56 billion. The new guidance excludes any impact of Alexion’s agreement disclosed earlier this week to acquire Portola Pharmaceuticals Inc., of South San Francisco, in an estimated $1.4 billion deal. As of March 31, Alexion had $2.3 billion in cash and equivalents. Shares of Alexion (NASDAQ:ALXN) closed May 6 at $96.84, down $1.41.
Alnylam Pharmaceuticals Inc., of Cambridge, Mass., reported first-quarter 2020 net product revenues of $66.7 million for Onpattro (patisiran), noting more than 950 hereditary transthyretin-mediated amyloidosis patients on commercial treatment worldwide. Net product revenues for Givlaari (givosiran), approved for acute hepatic porphyria, were $5.3 million for the first quarter, with more than 50 patients on commercial treatment in the U.S. Due to the COVID-19 pandemic, Alnylam lowered its full-year 2020 guidance range for Onpattro revenue from the $285 million to $315 million range to a range of $270 million to $300 million. GAAP net loss for the quarter was $182.2 million, or $1.62 per share, while non-GAAP net loss was $171.8 million, or $1.52 per share. As of March 31, Alnylam had about $1.37 billion in cash, equivalents, marketable debt and equity securities and restricted investments. Shares of Alnylam (NASDAQ:ALNY) closed on May 6 at $145.27, up $4.04.
Clovis Oncology Inc., of Boulder, Colo., reported global first-quarter 2020 sales of $42.6 million for PARP inhibitor Rubraca (rucaparib), up 29% over the same period in 2019 and up 8% quarter over quarter. The company’s net loss for the quarter was $99.3 million, or $1.39 per share, compared to a net loss of $86.4 million, or $1.63 per share, for the first quarter of 2019. As of March 31, the firm had $228.4 million in cash, equivalents and available-for-sale securities, which is expected to provide a cash runway into the second half of 2021. Shares of Clovis (NASDAQ:CLVS) closed May 6 at $8.07, up 36 cents.
Exelixis Inc., of South San Francisco, reported total revenue of $226.9 million for the first quarter of 2020, with $193.9 million attributed to revenue from its cabozantinib franchise. The company posted GAAP net income of $48.6 million, or 16 cents per share, compared to $75.8 million, or 25 cents per share, for the same quarter a year ago. Non-GAAP net income was $59.4 million, or 19 cents per share, compared to $85.5 million, or 28 cents per share, for the prior year. Cash and investments increased by $51.8 million during the quarter ended March 31, to more than $1.4 billion. Shares of Exelixis (NASDAQ:EXEL) closed May 6 at $26.19, up 90 cents.
Horizon Therapeutics plc, of Dublin, posted first-quarter 2020 net revenues of $355.9 million, up 27% over the same quarter in 2019. Sales of gout drug Krystexxa (pegloticase) totaled $93.3 million, up 78%, while sales of Tepezza (teprotumumab-trbw), approved in late January for thyroid eye disease, totaled $23.5 million. Horizon cited a strong launch for Tepezza and increased full-year 2020 guidance to greater than $200 million from initial guidance of $30 million to $40 million. The company posted a net loss of $13.6 million, or 7 cents per share, for the quarter. As of March 21, its cash position was $754.6 million. Shares of Horizon (NASDAQ:HZNP) closed May 6 at $42.60, up $5.22.