Tuesday earnings watch
Bio-Technology General (BTGC) reported first quarter pro forma EPS of $0.17, beating by $0.10 the Street consensus. The rise was driven in part by "surprisingly high sales of Delatestryl," said BTGC spokesperson Leah Berkovits. Sales of the injectable testosterone came in at $5.3 million compared to $1.6 million in the first quarter of 2000. Berkovits also noted that first quarter Oxandrin sales of $16.7 million were much higher than the fourth and first quarters of last year, in which the oral anabolic to promote weight gain posted sales of $9.9 million and $5 million, respectively. The ophthalmic and metabolic play rebounded $1.69 (33%) to $6.74 on Tuesday, following a $1.11 (18%) drop to $5.05 on Monday (see BioCentury Extra, Monday April 16).
In other upbeat earnings news, cardiovascular play Cor Therapeutics (CORR) added $2.14 to $29.03 on Tuesday after announcing a first quarter loss of $0.05, a penny better than the Street's $0.06 loss estimate, driven by $38.1 million in sales of Integrilin eptifibatide for acute coronary syndromes. CORR reaffirmed prior full-year Integrilin sales guidance of $245-$260 million this year, and EPS of $0.35-$0.37. ...