Corium International Inc. (NASDAQ: CORI) said it attained a number of milestones in its F3Q2016. As an investor, there are a few things you might want to keep an eye on to see if the future of Corium is shaping up to be want to you want.
FDA written response
Corium International Inc. (NASDAQ: CORI) has been having correspondence with the FDA regarding its lead drug candidate for the Alzheimer’s disease. Back in May, the company received a favorable pre-IND feedback from the FDA concerning the candidate. In that feedback, the regulator agreed with the company on its proposed clinical development plan for the Alzheimer’s candidate called Corplex Donepezil.
The FDA is due to issue a written feedback to Corium regarding its request for pre-IND guidance on the candidate Corplex Memantine. That feedback is expected in the current quarter and it is something that investors should keep a close eye on because of its importance in the development pathway of the candidate.
As for Corplex Donepezil, a once-weekly therapy, Corium said that it plans to embark on the pilot bioequivalence testing of the candidate in 4Q2016. That comes after the company received favorable feedback from the FDA concerning bioequivalence study pathway for the drug. Here is another area whose development investors might want to follow closely.
F3Q2016 financial highlights – Corium International Inc. (NASDAQ: CORI)
Corium International Inc. (NASDAQ: CORI) didn’t disappoint in its F3Q2016. It posted EPS loss of $0.34 that despite deteriorating from EPS loss of $0.33 in the year-ago quarter, still exceeded the consensus estimate by a $0.08.
Revenue of $10.61 million rose 52% QoQ and 0.1% YoY. The reported revenue also outpaced the consensus estimate by $1.88 million.
Corium said that it would have posted better results in the latest quarter were it not for a decline in contract R&D revenues. Weaker product sales also impacted performance in the latest quarter.
Corium International Inc. (NASDAQ: CORI) finished F3Q with cash and equivalents of $47.4 million, which dipped from $54.5 million in the prior quarter, but rose sharply from $29.5 million in the year-ago quarter.