Hot Move to Watch: Adamas Pharmaceuticals, Inc.’s (NASDAQ: ADMS)

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Hot Move to Watch Adamas Pharmaceuticals, Inc.’s (NASDAQ ADMS)

On Tuesday, Adamas Pharmaceuticals, Inc.’s (NASDAQ: ADMS) stock recorded total trading quantity of 395,151 shares as compared to its average volume of 675,859 shares. The firm has a total market worth of $238.366M and $27.34M shares remain outstanding.

Adamas Pharmaceuticals, Inc. (ADMS) recently stated financial results and pipeline updates for the third quarter ended September 30, 2018.

Recent Highlights

  • In the third quarter of 2018, fulfilled about 4,740 paid prescriptions of GOCOVRI, the first and only medicine accepted by the U.S. Food and Drug Administration (FDA) indicated for the treatment of dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy
  • Received GOCOVRI prescriptions from about 1,200 distinct prescribers as of September 30, 2018
  • Presented final results from EASE LID 2, the two-year, Phase 3 open-label study of GOCOVRI in Parkinson’s disease patients with dyskinesia at the 22ndInternational Congress of Parkinson’s Disease and Movement Disorders
  • Continued to enroll patients in the Phase 3 controlled study of ADS-5102 (amantadine) extended release capsules in multiple sclerosis patients with walking impairment and expect full enrollment in the second half of 2019
  • Continued to advance the ADS-4101 (lacosamide) program and remain on track to initiate a pivotal study in patients with epilepsy in 2019

Financial Results
Adamas stated GOCOVRI net product sales of $10.6M for the three months ended September 30, 2018. For the nine months ended September 30, 2018, net product sales were $20.7M. The full commercial launch of GOCOVRI occurred on January 8, 2018, so there were no similar product sales in 2017. The company recognizes revenue using the sell-in method, typically when products are delivered to the specialty pharmacy.

Research and development (R&D) expenses for the third quarter ended September 30, 2018, were $11.7M, including $0.7M in stock-based compensation expense, contrast to $6.5M for the third quarter ended September 30, 2017, which included $0.8M in stock-based compensation expense. For the nine months ended September 30, 2018, R&D expenses were $28.7M, including $2.2M in stock-based compensation expense, contrast to $20.7M, for the same period last year, which included $2.6M in stock-based compensation expense.

Selling, general and administrative (SG&A) expenses for the third quarter ended September 30, 2018, were $27.5M, including $3.5M in stock-based compensation expense, contrast to $16.1M for the same quarter in the previous year, which included $2.4M in stock-based compensation expense. For the nine months ended September 30, 2018, SG&A expenses were $81.6M, including $9.9M in stock-based compensation expense, contrast to $38.3M, for the first nine months of 2017, which included $7.4M in stock-based compensation expense.

Adamas stated a net loss of $33.2M, or $1.22 per share, basic and diluted, for the third quarter of 2018, contrast to a net loss of $23.4M, or $1.04 per share, basic and diluted, for the third quarter of 2017. The net losses for the third quarters of 2018 and 2017 included $4.1M and $3.3M, respectively, in non-cash stock-based compensation expense. For the nine months ended September 30, 2018, the company stated a net loss of $102.1M, or $3.82 loss per share, basic and diluted, as contrast to a net loss of $60.1M, or $2.69 loss per share, basic and diluted.

Cash Position
Adamas ended the quarter with $233.2M of cash, cash equivalents, and available-for-sale securities, contrast to $176.4M at December 31, 2017.

Return on equity (ROE) was noted as -106.70% and return on investment (ROI) was -51.10%. In the liquidity ratio analysis; ADMS debt to equity ratio was 1.01 while current ratio was 8.90. The Beta factor was 1.51. The stock’s RSI amounts to 40.86.

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