Jazz recently acquired Cavion Inc for $52.5mm upfront and $260mm in clinical, regulatory and commercial milestone payments. This gives Jazz worldwide rights to CX-8998, which is being developed for essential tremor. Jazz plans to initiate an additional Ph.2b in 2020.
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Jazz reported a decent Q219 earnings, beating on both the top ($534 vs $511mm) and bottom-line ($4.05 vs $3.61). The beat, yet again, was driven by Xyrem which came in ~$20mm higher than consensus estimates ($413 vs $392mm) while the rest of its portfolio came inline outside of Erwinaze which missed by $6mm due to ongoing supply issues with PBL which are well understood at this point. Vyxeos came inline vs consensus ($31 vs $32mm) driven by the ongoing EU launch.
Today (8/2/19) is the 1st of what we hope to make a reoccurring update of IMS charts we find interesting.
Jazz just reported a solid Q119 print, beating on both topline revs ($508 vs $468 cons.) and bottom-line EPS ( $3.67 vs $3.14) while also reaffirming its FY19 Guidance
Investors should be particularly pleased that Jazz’s largest product, Xyrem continues to beat consensus expectations ($368 vs $356 cons) while Vyxoes, its newly launched AML drug met consensus estimates of $29 mm for Q119.
Jazz just toplined data for JZP-258, its low sodium “Xyrem.” On the PR, Jazz noted that JZP-258 showed a “highly significant” difference in the reduction of weekly cataplexy attacks vs pbo + a safety profile that’s similar to Sodium Oxybate. Notably, no p-value or % reduction in cataplexy attacks were given.
Jazz reported its 4Q earnings this afternoon (2/26/19) + hosted their earnings call.
Before we get into the weeds, I want to make special note of my boss and colleagues at my previous firm, all of whom are unbelievably talented and have helped me get to this point today. Additionally, I want to thank Ed Wolfe for giving me such a unique opportunity to work at an independent firm like Wolfe. It’s truly humbling to work alongside analysts like Tim Anderson and Justin Lake. Lastly, I want to thank my ROCKSTAR team of associates/admin, all of whom have worked tirelessly with me on these initiations. I look forward to introducing them all to you shortly!
JAZZ’s stock has returned 4.3% YTD which marks outperformance comparatively to the NBI and S&P-500 which have returned (2.4%) and (1.4%), respectively, over the same time period.
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