Market Cap: 112 Mil Cash: 11.5 Mil Price: 3.68 Shares Out: 31.81 mil
Earnings Expectations Current Qtr: 0.22 Next Qtr: 0.18 Current Year: 0.79 Next Year: 1.02
Forward P/E: 3.46
Highlights from the recent qtr earnings call
* Achieving profitability for the third consecutive quarter.
* PPCO generating substantial revenue from Royalty on Opana ER sales from Endo Pharma
* Endo Pharma generated $50 mil sales from Opana ER during the last qtr and $170 mil last year. Royalty rates on Opana ER sales going forward will be based on the full royalty rates per the agreement, which range from 22%, 30% based on annual net sales. Q2 and Q3 royalty will be at the 22% rate, and then Q4 will jump up to the 25% rate.
* TIMERx(R) technology was validated by the FDA Approval of Opana ER and multiple drug development agreements.
* Signed fourth research and development agreement with Otsuka Pharmaceuticals to develop formulations utilizing Penwest's TIMERx(R) drug delivery technology.
* Initiating Phase IIa clinical trial of A0001 in patients with MELAS syndrome.
* Ongoing Phase IIa clinical trial of A0001 in patients with Friedreich's Ataxia, is progressing per the plan and expecting to complete by 3rd quarter end.
* "Fast Track" designation for A0001 for the treatment of Friedreich's Ataxia.
* On the look out for partners for A0001 Phase III in all indications
* planning to distribute a dividend of 0.50 - 0.75 during the 4th qtr