Advertisement
U.S. markets close in 2 hours 37 minutes
  • S&P 500

    5,250.02
    +1.53 (+0.03%)
     
  • Dow 30

    39,755.27
    -4.81 (-0.01%)
     
  • Nasdaq

    16,373.07
    -26.45 (-0.16%)
     
  • Russell 2000

    2,127.91
    +13.56 (+0.64%)
     
  • Crude Oil

    82.80
    +1.45 (+1.78%)
     
  • Gold

    2,242.10
    +29.40 (+1.33%)
     
  • Silver

    24.96
    +0.21 (+0.84%)
     
  • EUR/USD

    1.0800
    -0.0029 (-0.27%)
     
  • 10-Yr Bond

    4.1980
    +0.0020 (+0.05%)
     
  • GBP/USD

    1.2626
    -0.0012 (-0.09%)
     
  • USD/JPY

    151.3550
    +0.1090 (+0.07%)
     
  • Bitcoin USD

    70,629.45
    +1,386.91 (+2.00%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,168.07
    -594.66 (-1.46%)
     

Jazz Pharmaceuticals Sinks On Outlook, Halt In Drug Trial

Jazz Pharmaceuticals plc (NASDAQ: JAZZ) fell in the extended session Tuesday after the drug maker posted an outlook below expectations.

The company also said it voluntarily suspended patient enrollment in a Phase 2 trial of its leukemia drug, JZP-416, based on negative reactions in some patients.

The company is evaluating whether to resume the study, which began in the fourth quarter.

Shares changed hands recently at $171.51, down more than 2 percent.

The company forecast 2015 adjusted earnings of between $9.45 and $9.75 a share, on revenue of $1.31 billion to $1.37 billion.

View more earnings on JAZZ

Analysts expect 2015 adjusted earnings of $10.11 a share, on revenue of $1.4 billion.

For the recent fourth quarter, net income grew to $81.6 million, or $1.30 a share, from $55.3 million, or $0.90 a share a year earlier.

Adjusted profit for the recent period equaled $2.44 a share, while revenue increased 39 percent to $328.1 million, from $235.8 million last year.

Wall Street expected fourth-quarter earnings of $2.30 a share, on revenue of $319.1 million.

The company said it voluntarily suspended patient enrollment in the pivotal Phase 2 clinical trial of one of its leukemia drug, JZP-416, based on occurrence of hypersensitivity-like reactions in some patients.

The company is evaluating data to decide whether to resume the study.

See more from Benzinga

© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement