Veloxis Revises Outlook for 2019 Based on Strong Performance
Veloxis Pharmaceuticals A/S (OMX: VELO) announced today that it is raising its Outlook for 2019. This improvement is primarily driven by better than expected uptake of de novo use of Envarsus XR® (tacrolimus extended-release tablets) following the launch of the new indication in January of this year. In addition to the better than expected de novo uptake, the FDA announcement of a possible tacrolimus shortage beginning in July 2019 which is anticipated to last until March of 2020 may be further impacting sales of Envarsus.
Outlook 2019
Veloxis revises its 2019 Outlook of revenues to be in the range of USD 69 – 77 million and operating income before accounting for stock compensation in the range of USD 10 – 15 million. Veloxis previously reported 2019 Outlook to be USD 58 – 68 million for revenues and operating income before accounting for stock compensation in the range of USD 4 – 10 million.
“We are pleased to raise our financial guidance for 2019 and look forward to capitalizing on this momentum in the second half of 2019,” said Craig A. Collard, CEO of Veloxis Pharmaceuticals A/S.
As previously announced, Veloxis will release its Q2 Interim Report – for the period 1 January to 30 June 2019 on 8 August 2019.
For more information, please contact:
Craig A. Collard
President & CEO
Phone: +1 919 591 3090
Email: cac@veloxis.com
Ira Duarte
CFO
Phone: + 1 919 591 3090
Email: idu@veloxis.com