Q1 Earnings In Brief: Ironwood, Incyte, Arena, Ariad
Earnings season continues with reports from a swath of small biotechs. Ironwood reports higher Linzess sales, Incyte makes a European acquisition, Arena continues its decline, and Ariad explores strategic options.
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Arena and Vivus both announce efforts to conserve cash and they struggle with virtually nonexistent sales of their obesity drugs. Neither company has laid out plans for next steps.
After two years of almost nonexistent sales, analysts are ringing the death knell for the obesity market as revenues of once-promising obesity drugs continue to decline. The expectation is that virtually all of the major marketing partners will exit their respective partnerships in the near-term and more than one player could run out of cash.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.