ALNY Reiterates Guidance, TVTX Loss Widens, DXCM Paints Rosy Outlook

(RTTNews) - The following are some of the companies belonging to the healthcare sector that reported quarterly financial results on Thursday.

Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY), which reported lower-than-expected financial results for the third quarter, has reiterated FY 2022 net product revenue guidance.

Revenue grew to $264.3 million in Q3 2022, from $187.6 million in Q3 2021, but fell short ofanalysts' estimate of $291.75 million.

On a GAAP basis, net loss for the third quarter of 2022 widened to $405.9 million or $3.32 per share, from last year's $204.5 million or $1.72 per share. Analysts polled by Thomson Reuters expected a loss of $1.77 million.

On a non-GAAP basis, the net loss was $193.6 million or $1.58 per share in Q3 2022 compared to a net loss of $189.8 million or $1.59 per share in Q3 2021.

The company has four marketed products ONPATTRO, AMVUTTRA, GIVLAARI, and OXLUMO.

Alnylam reiterated its previous net product revenue guidance for the fiscal year 2022, to be in the range of $870-$930 million.

The company has a couple of clinical trial catalysts to watch in the coming months.

A phase 1 study of ALN-XDH in patients with gout is ongoing, with preliminary results expected in late 2022.

In early 2023, Alnylam expects initial data from a phase I study of ALN-APP in patients with early-onset Alzheimer's Disease.

The company does not plan to conduct the optional interim analysis for the HELIOS-B phase III study in patients with ATTR amyloidosis with cardiomyopathy. The study remains on track for topline results in early 2024.

On Sep.30, 2022, cash, cash equivalents, and marketable securities totaled $2.27 billion.

ALNY has traded in a range of $117.58 to $236.8 in the last 52 weeks. The stock closed Thursday's trading at $194, down 3.49%.

DexCom Inc. (DXCM), reported better-than-expected earnings for the third quarter ended Sep.30, 2022 and raised its revenue outlook for the full year.

In Q3 2022, revenue grew 18% to $769.6 million from $650.2 million in the same quarter of the prior year.

On GAAP basis, net income grew to $101.2 million, or $0.24 per share, in the third quarter of 2022, from $87.3 million, or $0.21 per diluted share, in the same quarter of 2021.

On a non-GAAP basis, the net income improved to $111.9 million, or $0.28 per share in the third quarter of 2022 from $89.3 million or $0.22 per share in the same quarter of 2021. Wall Street analysts were expecting earnings of $0.24 per share.

The company raised its revenue outlook for the fiscal year 2022, to be in the range of $2.88 - 2.91 billion from the previous range of $2.86 - 2.91 billion. Analysts estimate the revenue for FY 2022 to be $2.89 billion. Revenue was $2.45 billion last year.

Dexcom ended Q3 2022, with $2.37 billion in cash, cash equivalents, marketable securities, and undrawn credit facility.

DXCM has traded in a range of $66.89 to $164.86 in the last 52 weeks. The stock closed Thursday's trading at $101.25, down 1.33%.

Travere Therapeutics Inc. (TVTX) has reported a wider loss and lower revenue for the third quarter ended September 30, 2022. This biopharmaceutical company is developing therapies for rare kidney, liver, and metabolic diseases Revenue is generated from the following approved products. -- Chenodal indicated for the treatment of patients suffering from gallstones in whom surgery poses an unacceptable health risk due to disease or advanced age. -- Cholbam for the treatment of bile acid synthesis disorders due to single enzyme defects and is further indicated for adjunctive treatment of patients with peroxisomal disorders. -- Thiola and Thiola EC prescribed for the prevention of cystine (kidney) stone formation in patients with severe homozygous cystinuria.

Revenue for the third quarter of 2022 declined to $50.8 million, from $54.2 million in the same period in 2021.

In Q3 2022, the net loss widened to $69.7 million, or $1.09 per share from $35.6 million, or $0.59 per share in Q3 2021. Wall Street analysts expected the company to incur a loss of $0.86 per share.

The most advanced product in Travere's pipeline is Sparsentan, an investigational dual-acting angiotensin, and endothelin receptor antagonist proposed for the treatment of IgA nephropathy (IgAN).

Sparsentan is under FDA review, with a decision expected on February 17, 2023. In the European Union also, this product is under the European Medicines Agency (EMA) review for conditional marketing authorization, with a decision expected in the second half of 2023.

The company is also exploring Sparsentan in Focal Segmental Glomerulosclerosis and a phase III trial in this indication, dubbed DUPLEX, is underway. Topline data from this study is expected in the first half of 2023.

As of September 30, 2022, the company had $506.3 million in cash, cash equivalents, and marketable securities.

TVTX has traded in a range of $20.49 to $31.65 in the last 52 weeks. The stock is trading at $24.65, up 9.65% in Thursday's after-hours session.

Zynex, Inc. (ZYXI), which reported revenue growth of 19% for the third quarter of 2022, expects revenue to grow 23% in the fourth quarter.

In the third quarter of 2022, the company's revenue increased to $41.5 million from $34.7 million in the third quarter of 2021.

Net income declined to $4.9 million or $0.13 per share in Q3 2022, from $6.1 million or $0.16 per share in the third quarter of 2021, but came in just above analysts' consensus estimate of $0.12 per share.

The company provided revenue guidance for the fourth quarter of 2022 along with FY 2022.

For the fourth quarter, the company expects revenue to be in the range of $48 million to $51 million, with the analysts' consensus estimate being $49.18 million. Revenue was $40.37 million in the fourth quarter of 2021.

For FY 2022, the company anticipates revenue to be in the range of $157.4 million to $160.4 million, in line with Wall Street analysts' estimate of $158.45 million. Revenue was $130.3 million in FY 21.

The company ended the third quarter of 2022 with $23.5 million in cash reserves.

ZYXI has traded in a range of $4.97 to $15.66 in the last 52 weeks. The stock closed Thursday's trading at $9.21, up 0.66%.

Insmed Incorporated (INSM) has reported a wider loss for the third quarter of 2022 even as revenue climbed nearly 45% .

In the third quarter of 2022, revenue grew to $67.7 million, from for the third quarter of 2021.

In Q3 2022, Insmed's net loss widened to $131.1 million, or $1.09 per share on revenue of $67.7 million. This compared with a net loss of $112.7 million or $0.96 per share and revenue of $46.8 million in the year-ago period.

Wall Street analysts' expected the earnings to be $0.89 per share.

Anticipated events:

By the end of 2022, the company expects to report topline data from the phase II pharmacokinetic/pharmacodynamic study of Brensocatib in patients with cystic fibrosis. The company intends to share data from the ARISE post-marketing confirmatory trial of ARIKAYCE in patients with nontuberculous mycobacterial lung disease caused by Mycobacterium Avium Complex (MAC), over the course of 2023. In the second quarter of 2024, the company expects topline data from the phase III ASPEN Trial of Brensocatib for the treatment on-Cystic Fibrosis Bronchiectasis.

Insmed ended the third quarter of 2022, with $513.3 million in cash, cash equivalents, and marketable securities.

INSM has traded in a range of $16.41 to $34.44 in the last 52 weeks. The stock closed Thursday's trading at $16.98, down 4.12%.

Aargenx SE's (ARGX), Vyvgart, which was approved last December for Myasthenia Gravis, a rare, chronic, autoimmune, neuromuscular disease, has generated net product sales of $131.3 million for the third quarter ended Sep.30, 2022.

Efgartigimod, the active ingredient in Vyvgart, is also being explored in a couple of indications. A registrational trial of SC efgartigimod for Chronic Inflammatory Demyelinating Polyneuropathy, dubbed ADHERE, is underway, with topline data expected in the first quarter of 2023.

The company expects topline data from the second registrational ADVANCE-SC trial of SC efgartigimod for primary immune thrombocytopenia (ITP) in the second half of 2023.

In the second half of 2023, the company expects topline data from the registrational ADDRESS trial of SC efgartigimod for Pemphigus Vulgaris and Foliaceus.

ARGX has traded in a range of $249.5 to $403.77 in the last 52 weeks. The stock closed Thursday's trading at $372.24, down 2.97%.