Guardant In Good Health, GW Pharma On Track, FLXN Abuzz

(RTTNews) - Today's Daily Dose brings you news about Guardant Health's rosy outlook; GW Pharmaceuticals' stellar Q2 financial results; and Flexion's record sales of Zilretta, among others.

Read on…

Guardant Health Inc. (GH) has reported a narrower-than-expected loss on a 178% increase in revenue for the second quarter of 2019.

Guardant Health is a precision oncology company focused on helping conquer cancer through the use of its proprietary blood tests, vast data sets, and advanced analytics.

Net loss attributable to the Company's common stockholders shrunk to $11.6 million or $0.13 per share in the second quarter of 2019 from $21.6 million or $1.75 per share in the corresponding prior-year period. Total revenue in the recent second quarter was $54.0 million compared to $19.4 million in the year-ago period.

Analysts polled by Thomson Reuters were expecting the Company to incur a loss of $0.36 per share on revenue of $36.43 million.

Guardant Health has also boosted its full-year 2019 total revenue outlook to a range of $180 million to $190 million from its prior outlook range of $145 to $150 million, and well above analysts' consensus estimate of $148.52 million. The annual revenue in 2018 was $90.6 million.

GH closed Tuesday's trading at $90.50, up 3.76%. In after-hours, the stock was up 23.43% to $111.70.

GW Pharmaceuticals plc (GWPH) has reported a profit for the second quarter of 2019, reversing a year-ago loss, as revenues surged more than 20-fold.

Net income for the quarter ended June 30, 2019, was $79.7 million or $0.21 per share compared to a net loss of $84.0 million or $0.25 per share for the quarter ended June 30, 2018. Revenue for the recent second quarter jumped to $72 million from $3.28 million in the comparable year-ago period.

The Company is seeking approval of Epidiolex for seizures associated with Lennox-Gastaut syndrome and Dravet syndrome in Europe too. Last month, the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending approval of Epidiolex. A final decision is expected in October. Epidiolex was approved by the FDA last June.

GWPH closed Tuesday's trading at $152.42.

Flexion Therapeutics Inc. (FLXN) has reported a narrower loss for the second quarter of 2019 on higher revenue.

The Company's lead product is Zilretta, which received FDA approval in October 2017, for the management of osteoarthritis pain of the knee.

The net loss for the second quarter of 2019 narrowed to $36.5 million or $0.96 per share from $43.9 million or $1.16 per share in the year-ago quarter. Net sales of ZILRETTA were $17.0 million in the recent second quarter, up from $3.8 million in the year-ago quarter.

The Company ended June 30, 2019, with cash of approximately $176.6 million.

FLXN closed Tuesday's trading at $9.14, down 0.11%.

Obalon Therapeutics Inc. (OBLN) has closed its previously announced $16.6 million public offering.

The shares of common stock and accompanying purchase warrants in the offering were sold together at a combined public offering price of $4.00 per share, and the pre-funded warrants and accompanying purchase warrants were sold at a public offering price of $3.999 per purchase warrant.

Obalon is a medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity.

On July 24, 2019, the Company announced its financial results for the second quarter ended June 30, 2019.

Revenues for the second quarter of 2019 declined to $0.4 million from $2.7 million in the comparable year-ago quarter, as the Company restructured its operations, eliminating its direct field sales force in advance of a transition to its new strategy and business model.

Net loss for the second quarter of 2019 narrowed to $6.8 million or $0.25 per share from $9.8 million or $0.57 per share for the second quarter of 2018.

OBLN closed Tuesday's trading at $3.25.

TherapeuticsMD Inc. (TXMD) reported a wider loss for the second quarter of 2019 even as revenues jumped 62%. The Company also boosted its revenue outlook for the full year of 2019.

Net loss for the second quarter of 2019 widened to $55.24 million or $0.23 per share from $33.22 million or $0.15 per share in the year-ago quarter. Net revenue for the recent second quarter jumped to $6.07 million from $3.76 million in the year-earlier quarter.

Looking ahead, the Company has increased the total net revenue for the year 2019 to a range of $27.10 million to $33.10 million from its prior outlook range of $29.45 million to $34.20 million. Analysts polled by Thomson Reuters have a consensus revenue estimate of $30.12 million.

TXMD closed Tuesday's trading at $1.87, down 2%.