PDL BioPharma Sees Q3 Revenue Above Consensus; Stock Up - Quick Facts

(RTTNews) - Biotechnology company PDL BioPharma Inc (PDLI) Tuesday provided strong revenue guidance for the third quarter and its shares gained 4 percent in after-hours trade.

The company projects third-quarter revenue of about $165 million, while analysts polled by Thomson Reuters project revenue of $149.3 million.

In the prior-year third quarter, the company reported revenue of $100.2 million.

The forecasted revenues for the current quarter include strong increase in royalty payments from PDL's licensees to the Queen et al. patents, as well as royalty and related payments, and interest revenue from notes receivable debt financings to late stage healthcare companies.