• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

Valeritas reels in losses for Q1

May 12, 2017 By Sarah Faulkner

ValeritasInsulin-delivery device maker Valeritas (NSDQ:VLRX) missed earnings and revenue expectations on Wall Street with its 1st quarter results.

The Bridgewater, N.J.-based company pared its losses to -$11.9 million on sales of $4.6 million for the 3 months ended March 31, for bottom-line growth of 30% on sales loss of -8% compared with the same period last year.

Adjusted to exclude 1-time items, earnings per share were -$6.92, behind consensus on The Street, where analysts were looking for sales of $4.7 million.

“With our integrated multi-channel commercial plan aligned with our high touch and capital efficient sales strategy now in place, we are poised to generate sustainable long-term growth,” president & CEO John Timberlake said in prepared remarks. “In territories where we have had sales rep continuity, we have seen positive results and our newer sales reps are quickly getting up to speed.  We have also increased our financial flexibility by raising $48.8 million of net proceeds in our public offering completed in March 2017 and, in collaboration with our creditors, reduced our debt-to-equity ratio by converting $27.5 million of our debt into shares of our Series A Preferred Stock, and extended the time period to our first cash interest payment until June 2019 and maturity to March 2022.  We continue to expect double digit revenue growth in 2017 with most of this growth occurring in the second half of the year.”

Filed Under: Diabetes, Drug-Device Combinations, Featured, MassDevice Earnings Roundup, Wall Street Beat Tagged With: Valeritas Inc.

IN CASE YOU MISSED IT

  • Senseonics closes public offering, private placement with Abbott
  • Embecta eyes shift from insulin delivery to broader medical supplies focus
  • Medtronic earns expanded CE mark for Prevail paclitaxel-coated balloon
  • Sequel Med Tech to pair automated insulin delivery system with Abbott’s future dual glucose-ketone sensor
  • Medtronic to separate Diabetes business unit

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS