Life Sciences
Bad day on Street: CommScope, Chimerix, Biocryst all report losses
Earnings news out early Thursday before the markets opened was not good news for CommScope, Chimerix and Biocryst. Here are the details.
The post Bad day…
RESEARCH TRIANGLE PARK – Earnings news out early Thursday before the markets opened was not good news for CommScope, Chimerix and Biocryst. Here are the details.
- CommScope reports $100M loss
HICKORY — CommScope Holding Co. (COMM) on Thursday reported a loss of $100.4 million in its second quarter.
The Hickory, North Carolina-based company said it had a loss of 55 cents per share. Earnings, adjusted for one-time gains and costs, were 19 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The wireless and broadband network technology company posted revenue of $1.92 billion in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $2.04 billion.
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- BioCryst takes $75M hit
DURHAM — BioCryst Pharmaceuticals Inc. (BCRX) on Thursday reported a loss of $75.3 million in its second quarter.
The Durham, North Carolina-based company said it had a loss of 40 cents per share. Losses, adjusted for non-recurring costs, were 24 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The drugmaker posted revenue of $82.5 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $82 million.
- Chimerix reports $18.6M loss
DURHAM — Chimerix Inc. (CMRX) on Thursday reported a loss of $18.6 million in its second quarter.
On a per-share basis, the Durham, North Carolina-based company said it had a loss of 21 cents.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The biopharmaceutical company posted revenue of $26,000 in the period.
The post Bad day on Street: CommScope, Chimerix, Biocryst all report losses first appeared on WRAL TechWire.
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