$NDRM Reported FY16 Results


Post Earnings Coverage as NeuroDerm Reported FY16 Results


One of NeuroDerm’s competitors within the Biotechnology space, Biogen Inc. (NASDAQ: BIIB), announced on March 27, 2017, that it will report its Q1 2017 financial results on Tuesday, April 25, 2017, before the financial markets open. AWS will be initiating a research report on Biogen in the coming days.

Today, AWS is promoting its earnings coverage on NDRM; touching on BIIB. Get our free coverage by signing up to:


Earnings Reviewed

In Q4 FY16, NeuroDerm’s net expenditure on research and development were $9.52 million versus $4.13 million in the previous year’s same quarter. The Company attributed the rise in R&D expenses to an increase in subcontractors and materials, mainly from the ongoing clinical trials. Due to decrease in share-based compensation expenses, the Company’s general and administrative expenses fell to $1.66 million in Q4 FY16 from $2.04 million in the prior year’s comparable period.

The central nervous system (CNS) disorders drug-device combinations research Company’s operating loss increased during the reported quarter to $11.17 million from $6.17 million in Q4 FY15. Furthermore, the Company reported net loss of $11.10 million in Q4 FY16 compared to $6.73 million in Q4 FY15. Additionally, net loss per diluted share for Q4 FY16 stood at $0.49, which was higher than net loss per diluted share of $0.31 recorded in the year ago same period.

For the year ended December 31, 2016, NeuroDerm’s general and administrative expenses were $6.09 million compared to $5.16 million in the prior year. During FY16, the Company spent $27.01 million on net research and development expenses versus $12.81 million a year ago. The Company reported operating loss of $33.09 million in FY16 compared to operating loss of $17.97 million in FY15. Furthermore, NeuroDerm’s net loss had widened in FY16 to $32.50 million, or $1.48 loss per diluted share, from net loss of $15.61 million, or $0.82 loss per diluted share, in FY15.

Cash Flow & Balance Sheet

During Q4 FY16, net cash used in operating activities was $9.42 million compared to net cash used in operating activities of $4.63 million in last year’s comparable quarter. The Company had cash balance of $107.18 million as on December 31, 2016, compared to $84.74 million, at the close of books on December 31, 2015.

The Company has an accumulated deficit of $180.73 million as on December 31, 2016, compared to $148.24 million as on December 31, 2015. Furthermore, the Company’s activities are being funded through public and private offerings of the securities and issuance of convertible loans and warrants.

Stock Performance

On Tuesday, April 11, 2017, the stock closed the trading session at $25.75, marginally up 0.39% from its previous closing price of $25.65. A total volume of 121.55 thousand shares have exchanged hands. NeuroDerm’s stock price rallied 17.58% in the last three months, 35.53% in the past six months, and 72.47% in the previous twelve months. Moreover, the stock gained 15.99% since the start of the year. At Tuesday’s closing price, the stock’s net capitalization stands at $684.69 million.

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