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BioDelivery's (BDSI) Q1 Loss in Line with Expectation

Raleigh, NC-based BioDelivery Sciences International, Inc. BDSI is a specialty pharmaceutical company focused on the development and commercialization of treatments in the areas of pain management and drug addiction.

The company utilizes its novel, patented and proprietary BioErodible MucoAdhesive (BEMA) drug delivery technology for the development of products. The company’s portfolio currently consists of three FDA-approved products – Onsolis (breakthrough cancer pain in opioid-tolerant adult patients), Bunavail (opioid dependence) and Belbuca (management of pain severe enough to require daily, round-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate).

Belbuca was launched by its partner Endo International plc in Feb 2016. Meanwhile, BioDelivery is currently working on driving Bunavail sales.

In this scenario, investor focus remains on the sales ramp up of Bunavail and Belbuca and other pipeline related updates apart from the usual top-and bottom-line numbers.
BioDelivery’s performance so far has been disappointing with the company beating expectations only in one of the last four quarters with an average miss of 19.43%.

Currently, BioDelivery has a Zacks Rank #5 (Strong Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: BioDelivery’s first-quarter 2016 loss of 36 cents per share came in line with consensus estimates.

Revenues: Revenues were however slightly below expectations. BioDelivery posted revenues of $3.04 million, compared to our consensus estimate of $3.07 million.
Key Stats: Bunavail’s number of prescriptions dispensed decreased 4% sequentially. Considering that Bunavail’s uptake has been slower than expected, the company is looking to strategically consolidate its sales force, which will result in total savings of approximately $20 million through 2017.

Check back later for our full write up on this BDSI earnings report later!

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