Financial guidance reissued to include EBITDA-positive projection for second-half 2020
Strategic shift and momentum build through recent business development activities
Brian Piekos promoted to Chief Financial Officer
Conference call scheduled for 8:00 a.m. ET today
WALTHAM, Mass., Aug. 06, 2020 (GLOBE NEWSWIRE) — AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) today reported unaudited consolidated financial results for the second quarter ended June 30, 2020. The company reported total revenues for the second quarter of 2020 of $52.8 million, including revenue of $29.6 million from Feraheme® (ferumoxytol injection) and revenue of $22.3 million from Makena® (hydroxyprogesterone caproate injection). The company also reported an operating loss of $7.0 million and an adjusted EBITDA loss of $1.7 million in the second quarter of 2020.1
“Amidst the unprecedented uncertainty that COVID-19 placed on the healthcare system and our economy, AMAG’s marketed therapeutics performed well in the second quarter due in part to our teams’ ability to adapt in a rapidly-changing environment,” said Scott Myers, AMAG’s Chief Executive Officer. “Over the past three months, we have advanced the company’s strategic evolution by reaching important milestones that include a strategic, ex-US partnership with Norgine to further progress ciraparantag and strengthen our company’s ability to invest in our pipeline. We have also streamlined expenses by completing the divestment of Intrarosa® and Vyleesi® and making changes to our portfolio designed to further focus on programs with the highest potential to deliver innovative treatments for patients and unlock shareholder value.”
