BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) Q3 Net Loss Narrows

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) fell 5.36% after reporting a net loss of (-$12) million for the three months ended September 30, 2017. However, the results exceeded Wall Street expectations as revenue increased 29% compared to the second quarter.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

Management remarks

The stock is currently trading at a key support level of $2.65, below which it could drop to the next support level at $2.20. BioDelivery Sciences has come under pressure in recent weeks after touching highs of $3.40 a share. Observers are keen to see if the third quarter financial results is the catalyst that will help push the stock up.

According to the Chief Executive Officer, Mark Sirgo, the solid performance in the quarter was because of the strong sales momentum behind lead product BELBUCA.

“Our solid performance in the third quarter continued the encouraging trend we have seen with BELBUCA, as we achieved prescription growth of 15% over the second quarter. The favorable trend continued into October as BELBUCA monthly total prescriptions reached an all-time high in excess of 8,000 based on preliminary sales data,” said Mr. BELBUCA.

The executive expects continued growth of BELBUCA going forward due to a new sales strategy and improved managed care involving Medicare. BioDelivery Sciences International, Inc. (NASDAQ:BDSI) has also completed an important licensing agreement with Purdue Pharma for BELBUCA.

Q3 Financial Results

Net Revenue for the three months ended September 30, 2017, came in at $11.3 million, up from $3.6 million reported in the third quarter of 2016. BELBUCA and BUNAVAIL revenue totaled $6.4 million and $1.7 million respectively. Net revenue for the first nine months of the year totaled $49.5 million compared to $11.6 million in the same period last year.

Total operating expenses for the quarter was $16.9 million compared to $16.5 million reported last year. Net loss decreased to (-$12 million) or (-$0.21) a share compared to a net loss of (-$16) million or (-$0.30) a share, reported last year. The decrease in net loss was primarily attributed to net profitability from the reacquisition of BELBUCA early in the year.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) has cash and cash equivalents of $19.7 million compared to $27.5 million as of June 30, 2017. During the quarter, the company met the financial requirements needed to access the next $15 million tranche in its loan agreement with CRG.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $BDSI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) Continues Higher

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) has had two days of substantial gains and seems to have triggered a sell program as shares met significant resistance at $2.85. Last Thursday, Friday, and Monday BDSI shares had a tough time breaking above $2.30 then yesterday shares moved up steadily only to meet some mild resistance at $2.60. Today shares gapped up to open at $2.75 and quickly climbed to $2.85 by mid-day but, apparently, strong selling kicked in and BDSI was unable to sustain any moves above $2.85 and closed today at $2.75. Volumes were heavy. Over 2.2 million shares of BDSI traded today or about three times their 30-day, daily average trading volume of 613,500.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)’s development strategy focuses on the utilization of the FDA’s 505(b)(2) approval process. This regulatory pathway creates the potential for more timely and efficient approval of new formulations of previously approved therapeutics.

Today, upward movement was likely helped along by the company’s announcement that it has signed an agreement with CVS/Caremark extending access to both BELBUCA® (buprenorphine) buccal film (CIII) and BUNAVAIL® (buprenorphine and naloxone) buccal film (CIII) through 2020. The agreement is important as CVS/Caremark represents a significant portion of the covered lives in the United States. BioDelivery Sciences International, Inc. (NASDAQ:BDSI) reacquired BELBUCA from Endo Pharmaceuticals in January 2017 and subsequently relaunched the product. Prescription sales for BELBUCA reached their highest point in May 2017 since the product was launched by Endo in early 2016 and continues to grow in June. Weekly sales for BELBUCA for the week ending June 9, 2017 (1,657 prescriptions) exceeded the previous peak from December 2016 for the first time according to data from Symphony Health.

Shares of BioDelivery Sciences International, Inc. (NASDAQ:BDSI) have performed well over every timeframe. In the past week, BDSI shares gained over 14%, they are up over 6% for the month, up over 48% YTD, and up over 10% for the year. Seven investment firms follow BDSI shares. Six rate them as a “Strong Buy” and one rates them as “Hold” Their consensus price target is $4.00.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $BDSI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) Re-acquires Belbuca

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) has been on an upward trend after reporting Q1 2017 earnings that beat estimates. Reacquisition of license rights to pain the management product, Belbuca, continues to fuel investor’s sentiments on the stock.

Stellar Q1 Earnings

The pain management product remains a key driver of the company’s earnings. During the first quarter, the drug generated sales that propelled BioDelivery Sciences International, Inc. (NASDAQ:BDSI) to profitability. First quarter net income came in at $48.3 million or $0.58 cents a share, blowing away analysts’ earnings expectations of $0.09 cents a share.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) Chief Executive Officer, Mark Sirgo, expects revenue and earnings growth to continue into the second half of the year.

“We completed a swift and effective transition of BELBUCA following the early January close of the transaction with Endo Pharmaceuticals (Endo), and by the end of the quarter, we were generating sufficient product revenue to offset the expense of our commercial business unit. In fact, we recorded the highest net sales revenue for BELBUCA since the product was launched over a year ago…,” said Mr. Sirgo.

BioDelivery Sciences reported net revenues of $29.5 million for the first quarter, compared to net revenue of $3 million reported last year. Belbuca accounted for $4.6 million of total revenues. The company would have earned $640,000 in royalty payments from the drug had it not reacquired it. Cash and cash equivalent as of the end of the first quarter totaled $35.2 million compared to $32 million as of December 31, 2016.

Growth Drivers

The specialty pharmaceutical company is currently pursuing licensing agreements for Belbuca as it continues to pursue new sales avenues. The company is also eyeing approval in Canada to supplement sales in the U.S. Early this year the company secured $75 million in financing that it plans to use for the commercialization of the drug.

Belbuca is not the only product that BioDelivery Sciences International, Inc. (NASDAQ:BDSI) is relying on for revenues. Bunavail is the company’s other lead product and it generated revenues of $3.2 million in the quarter, up from $2.1 million as of last year.

“As for BUNAVAIL®, we will continue to focus our efforts on our current prescribers while working to secure new managed contracts where BUNAVAIL is in a favorable position. BUNAVAIL generated $3.2 million in revenue for the quarter,” said Mr. Sirgo.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) plans to make a regulatory submission later in the year for the manufacture of ONSOLIs, a drug it licensed to Collegium Pharmaceuticals in 2016

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) closed a $2.30 on volume of 213,882.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $BDSI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.