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  • zilanewswatch zilanewswatch Apr 11, 2007 3:48 PM Flag

    Celgene Royalty Revenue

    was booked in the 4th and 3rd quarter last year! The big question is will revenue be booked this year in the 1st or 2nd quarter?

    RESULTS OF OPERATIONS
    Years Ended December 31, 2006, 2005 and 2004.
    Revenues. Revenues increased 16% in 2006 to $6,894,000 from $5,918,000 in 2005 after increasing 1,051% in 2005 from $514,000 in 2004. The fluctuation between periods results from changes in the revenue components and also from the manner and timing of when certain revenues are recorded. The three years presented reflect the following revenue types: royalty revenues and licensing revenues. The increase in revenues in 2006 results from increased royalty revenue earned on sales of Thalomid�. Beginning in 2005, we are entitled to share in the royalty payments received by Royalty Pharma Finance Trust on annual Thalomid� sales above approximately $225 million. Thalomid� sales in 2005 and 2006 surpassed the sharing point in the third quarter and we recorded estimated royalty revenues of $5,310,000 and $6,882,000, respectively. No royalty revenues were recorded on Thalomid� sales in 2004.

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    • ENMD is paid royalties after CELG's net annual Thalomid sales exceed $225M. This hasn't happened until Q3 the past two years.

      For Q4-2006 CELG net Thalomid sales were ~ $110M. ENMD isn't going to see any royalties for Q1. While it is possible they could show some for Q2, they would likely be very small.

    • Royalty revenue is a plus, but remember that CELG will eventually replace Thal with Rev or Actimid or some other Imid. Investors were astonished that Thal maintained their sales despite the safer Rev successfully hitting the market. The real story with Enmd is the eventual success of their own drugs and actual revenues and profits. That is what I am betting on and it could come sooner rather than later. Do not forget, the better WS biotech analysts understand bio technology and they can see a winner a mile away. Successful conferences and test results have a habit of coming out of nowhere and you better be in or you will pay for your mananas.
      The stock has been under pressure for three days and there is a shortage of buyers. One can take this to mean many things, I'll stay bullish. I tried to pick up shares this afternoon, but the bid was weakened with sellside volume and my little bit was useless. Where are those big buyers from last week? Buy shares if you can and call the company and tell them we want better communications and by the way what can you tell me. Good luck.