Bioverativ Reports Second Quarter 2017 Performance
Published: Aug 03, 2017
Key financial results include:
- Second quarter 2017 revenues of $289.1 million, a 37.5% increase year-over-year
- Second quarter 2017 GAAP operating margin of 39.3%; Non-GAAP operating margin of 48.8%
- Second quarter 2017 GAAP earnings per share of $0.71, up 20.3%; Non-GAAP earnings per share of $0.88, up 72.5% year-over-year.
“In the second quarter, we continued to execute across all aspects of the business, delivering strong commercial performance, completing the acquisition of True North Therapeutics, a leader in complement biology, and advancing our pipeline. The acquisition added a first-in-class candidate to treat cold agglutinin disease to our pipeline and plans are in place for this program to enter Phase 3 trials this year,” said John Cox, Chief Executive Officer of Bioverativ. “At the same time, we progressed our pipeline with BIVV001 entering a Phase 1/2a trial for patients with hemophilia A.”
“We believe we are positioned for continued success in 2017 and beyond. We will leverage our strong momentum to work to transform the lives of patients with rare blood disorders and to drive long-term growth for our shareholders,” continued Mr. Cox.