Sponsor – Finished Corona Finished Profits

by time news

Ofco returns to Sora, Ofco presents weak fourth quarter report, analysts expect a loss of 2 cents per share but the company reports a loss of 11 cents per share and provides business development updates

Financial results for the fourth quarter:

Total revenue The fourth quarter of 2021 totaled $ 401.3 million compared to $ 494.6 million in the same quarter in 2020. Operating loss Stood at $ 63.1 million compared to an operating profit of $ 49.3 million in the fourth quarter of 2020. The net loss In the fourth quarter, it was $ 73.8 million, or 11 cents a share, compared to net income of $ 32.3 million, or 5 cents a share, in the same quarter in 2020.

Diagnostics: Revenue from services in the fourth quarter of 201 totaled $ 362.2 million compared to $ 457.9 million in the same period in 2020, mainly due to a decrease in the number of corona tests. Total expenses totaled $ 381.4 million in the fourth quarter of 2021 compared to $ 388.0 million in the same period in 2020.

Pharmaceuticals: Revenue from products in the fourth quarter of 2021 rose nearly 15% to $ 35.3 million compared to $ 30.8 million in the fourth quarter of 2020, largely due to the acceleration in the growth of Ofco’s international pharma business. RAYALDEE revenue was $ 7.7 million compared to $ 10.1 million in the same quarter in 2020. Revenue from the sale of licenses and intellectual property totaled $ 3.3 million in the fourth quarter of 2021 compared to $ 5.9 million in the same period in 2020. Total expenses totaled $ 53.3 million compared to $ 45.7 million in the fourth quarter of 2020.

Cash: Cash and cash equivalents totaled $ 134.7 million as of December 31, 2021. In addition, the company has a credit line from JP Morgan of $ 64.8 million.

Business developments:

The Somatrogon injection has received regulatory approvals in Europe, Japan, Australia and Canada for lack of growth hormone in children. The injection is available in Canada starting February 16, 2022, the first commercial launch for the product.

In the U.S., the FDA has issued a full response letter to the BLA that has been filed. Pfizer is conducting an evaluation of the FDA comments and plans to work with the agency to determine the appropriate route in the U.S.

RAYALDEE was launched in Germany. Marketing approvals for RAYALDEE have been received in 11 European countries while waiting for the product to be launched in additional markets.

Final results have been reported from a Phase 2 clinical trial for the treatment of RAYALDEE in corona patients with symptoms. The final data show an improvement in vitamin D status alongside RAYALDEE leading to early resolution of respiratory symptoms associated with corona patients in mild to moderate condition.

An agreement was signed with Sema4 to acquire the subsidiary GeneDX, a leader in genetic testing and analysis. Sema4 will pay $ 150 million in cash and another 80 million Sema4 shares, along with up to an additional $ 150 million according to sales-based milestones in the next two years.

BioReference Laboratories performed approximately 2.7 million corona PCR tests in the fourth quarter of 2021 compared to 2.2 million tests in the third quarter.

The FDA has approved a pre-commercial approval request for a 4Kscore review. The test is approved for use in men aged 45 and over who have not had a prostate biopsy or who have a negative biopsy, and who have an unusual amount of antigen or an abnormal digital-rectal test.

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