Biotech Analysis Central Pharma News: Celgene's Earnings, Achaogen Cuts Staff, Advaxis Receives IND Clearance [Seeking Alpha]
ACHAOGEN (AKAO)
Last achaogen earnings: 3/28 04:01 pm
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US:NASDAQ Investor Relations:
investors.achaogen.com/investor-overview
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Source: Seeking Alpha
Summary Welcome to Biotech Analysis Central Daily News, a daily news report and analysis about what has happened lately in the biotech industry. Celgene's Profits Reach Above Expectations For The Second-Quarter News: Recently, Celgene ( CELG ) reported profit that exceeded analysts' expectations for the second-quarter . Net sales for its products category grew by 16.6% to $3.8 billion. Adjusted earnings per share for the quarter were $2.16 per share, excluding items. Analysts were expecting earnings per share of $2.11 per share. Based on its increased earnings, it was able to raise its full-year guidance as well. The revenue forecast for 2018 was raised from $14.8 billion to around $15 billion. Analysis: This was a good quarter for Celgene no doubt, but the best news of all was that its main drug Revlimid had gone up in sales due to increased demand. Sales for Revlimid came in at $2.45 billion for the quarter. This is good news for Celgene, because it heavily
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