JAZZ - Jazz Pharma rises after-hours on quarterly earning beat full-year guidance raise

Shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) are up 1.5% in after-hours trading after the company beat Q3 2021 earnings estimates and raised its 2021 guidance. On a non-GAAP basis, Jazz now expects full-year adjusted net income of $925M-$965M, up from $830M-$910M. Revenue was adjusted to $3.02B-$3.1B from $3.02B-$3.18M. The company said that in Q3, 52% of net product sales were from recently launched or acquired products. Sales of Epidiolex (cannabidiol) rose 21% to $160.4M from Q3  2020. Sunosi (solriamfetol) sales increase 111% year over year to $19.3M. Jazz ended the quarter with $671.8M in cash. In the pipeline, Jazz said it will start a pivotal trial of Epidiolex for epilepsy with myoclonic-atonic seizures in 1H22. The4company is also on track to begin a phase 2 trial for JZP150 for post-traumatic stress disorder by the end of the year. Seeking Alpha contributor Luke Boothman recently wrote that Jazz's acquisition of GW Pharma came with a heavy debt burden

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Jazz Pharma rises after-hours on quarterly earning beat, full-year guidance raise