ANIP - ANI Pharma stock rises on Q2 revenue beat in-line 2022 forecast

• ANI Pharma ( NASDAQ: ANIP ) is trading 2.5% higher after the company reported better-than-expected Q2 revenue and 2022 guidance that was in-line with estimates., helped by higher sales of purified cortrophin Gel and generic pharmaceuticals.
• The company reiterated total company net revenue guidance of $295M to $315M vs. consensus of $304.53M, adjusted non-GAAP earnings per share between $1.34 and $1.62 vs. consensus of $1.43.
• Revenue grew 52% to $73.9M, and beat by $1.93M.
• Cash and cash equivalents were $63.4.
• Net revenues for generic pharmaceutical products rose 46% to $49.9M.
• Contract manufacturing revenues rose 89% to $4.4M.
• For Purified Cortrophin Gel specific measures, the company  revised Net Revenue between $40M and $45M as compared to previous guidance of $35M and $40M.

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