Cornerstone Therapeutics gains on Q2 earnings beat

Cornerstone Therapeutics (CRTX +4.2%) moves higher on a solid Q2, reporting earnings of $0.19 per share and beating consensus estimates of $0.12.

Revenues were $40.4M, up 88% Y/Y and above the analyst estimate of $35.79M. In the same period last year, the company reported $0.17 loss per share on revenues of $21.5M.

Gross margin of 75%, compared to 59% in Q212, primarily due to the addition of CARDENE I.V., as well as growth in net product sales resulting from price increases and lower estimated rates for certain sales allowances.

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