Not the horror show some posters were suggesting..
Reports Q2 EPS ($0.16) vs ($0.14) Capital IQ Consensus Estimate; revs +96% to $20.6 mln vs $19.86 mln Capital IQ Consensus; co reaffirms FY13 rev guidance of $90-100 mln vs. the $91.7 mln consensus; sees Q4 rev higher than Q3.
The co also announced that it has entered into an agreement to sell certain generic assets owned by its subsidiary, Cypress Pharmaceuticals, to Breckenridge Pharmaceutical, Inc. for $30 million. Under the terms of the agreement, Breckenridge will pay Pernix $20 million in an upfront payment and $10 million which is to be paid in two equal installments over the next two years. The assets include 7 previously marketed Abbreviated New Drug Applications (ANDAs), 11 ANDAs filed at the FDA, and certain other ANDAs in various stages of development.