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Cell Therapeutics Q4 revenue soars due to Baxter license payment

  • Cell Therapeutics (CTIC) Q4 revenue balloons to $32.9M versus $0 a year ago. Almost all of the revenue is due to Baxter's (BAX) upfront payment of $32.4M for the license to develop and commercialize pacritinib.
  • Product revenues for Q4 and FY13 were $.5M and $2.3M, respectively.
  • Net income for the quarter was $10.2M ($.08/share) due to the Baxter payment. Net loss for the year was $49.6M ($.43/share).
  • FY14 guidance projects a loss from operations of $45M - $50M.
  • Consensus estimate for Q1 is a loss of $.23/share on revenues of $1.3M.
  • Consensus estimate for 2014 is a loss of $.48/share on revenues of $23.9M.
  • Mutual fund ownership has increased from 30 to 85 the past 4 quarters.
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Comments (1)
  • bonifax
    , contributor
    Comments (41) | Send Message
     
    It makes me smile!.
    Cash and 'more than 71 million, but the objection would be that no money came from Baxter.
    And then 'fake money?
    Cell Pacritinib bought it at 30 million and has already 'collected, as we know, already' sixties. But if the deal did Cell, and then 'a partial failure!,
    If he bought a Pinco Palino any would be a bargain!
    Will be false the other 252 million that will pay 'Baxter'.
    Take for example a company which any to survive each year (as it has done in the past Cell) has to sell some of his property and that, despite what 'remains forever in your debt. Finally, this company is able to produce something that sells itself and finds himself in cash instead of debt, $ 71 million and with firm orders (as in the case of Baxter) for more than 250 milioni.Sarebbe a success for this company, or, not, as some might say even a partial failure?
    4 Mar 2014, 09:04 PM Reply Like
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