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OFFON

ANTARES PHARMA, INC.

(ATRS)
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ANTARES PHARMA REPORTS SECOND QUARTER 2021 FINANCIAL AND OPERATING RESULTSEWING

08/06/2021 | 08:18am EDT

Antares Pharma, Inc. (NASDAQ: ATRS) ('the Company'), a specialty pharmaceutical company, today reported financial and operating results for the second quarter ended June 30, 2021 with record revenue of $45.0 million and net income of $4.4 million, or $0.03 per basic and diluted earnings per share.

Robert F. Apple, President and Chief Executive Officer of Antares Pharma, commented, 'We believe our strong second quarter performance highlights the growth opportunities that prevail across our diversified business. XYOSTED and Teva's generic EpiPen continue to be the primary drivers of our 39% year-over-year revenue increase and we continue to expect our full year revenue guidance to be in the range of $175-200 million. As we look ahead, we expect the advancement of our proprietary pipeline as well as our partner's programs to support our future growth. With the unveiling of ATRS1902 as hydrocortisone with a new autoinjector platform for adrenal crisis rescue, we are eager to initiate the PK study following the FDA's recent acceptance of our IND submission. With our Quickshot autoinjector, we are also excited for our partner Idorsia's initiation of their global Phase 3 study for selatogrel as a heart attack rescue pen as well as the potential NDA filing of Pfizer's undisclosed rescue pen in the second half of 2021. Overall, we believe the diversification of our business remains foundational to our ongoing success.'

About Antares Pharma

Antares Pharma, Inc. is a specialty pharmaceutical company focused primarily on the development and commercialization of self-administered injectable pharmaceutical products using advanced drug delivery auto injector technology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma's FDA-approved products include XYOSTED (testosterone enanthate) injection, OTREXUP (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the Company's ability to achieve the 2021 full-year revenue guidance; the uncertainty regarding the ongoing COVID-19 pandemic, including new strains of the virus, and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, clinical trials, and our overall business, operating results and financial condition; commercial success of XYOSTED and future revenue from the same; market acceptance of Teva's generic epinephrine auto-injector product and future revenue from the same; future prescriptions and sales of OTREXUP; successful commercialization of NOCDURNA in the U.S. and market acceptance and future revenue from the same; whether the FDA will withdraw marketing approval for AMAG Pharmaceuticals' Makena subcutaneous auto injector following the FDA letter seeking withdrawal, whether AMAG will be granted an appeal hearing and if granted, whether Makena will be successful and future prescriptions, market acceptance and revenue from the same; Teva's ability to successfully commercialize VIBEX Sumatriptan Injection USP and the amount of revenue from the same; Teva's ability to successfully commercialize generic teriparatide in Europe, Canada and Israel and future revenue from the same, successful development including the timing and results of the Phase 3 trial of the drug device combination product for selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; the timing and results of the clinical development program for ATRS-1902 adrenal crisis rescue auto-injector, future NDA submission and FDA approval of the same, and if approved, future market acceptance and revenue for the same; FDA approval of Teva's ANDAs for both generic Forteo and Byetta and future revenue from the same; the timing and results of the Company's or its partners' research projects or clinical trials of product candidates in development including the 4 of 6 Company's urology assets in development as well as Pfizer's undisclosed development product; actions by the FDA or other regulatory agencies with respect to the Company's products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company's ability to repay the debt obligation to Hercules Capital; the Company's ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as 'may', 'will', 'should', 'would', 'expect', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'predict', 'potential', 'seem', 'seek', 'future', 'continue', or 'appear' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the 'Risk Factors' section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

Contact:

Tel: 609-359-3016

Email: tbui@antarespharma.com

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ANTARES PHARMA, INC. 0.29% 3.45 Delayed Quote.-13.53%
IDORSIA LTD 0.00% 20.56 Delayed Quote.-19.44%
PFIZER, INC. -0.43% 41.49 Delayed Quote.13.20%
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Analyst Recommendations on ANTARES PHARMA, INC.
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Financials (USD)
Sales 2021 187 M - -
Net income 2021 17,6 M - -
Net Debt 2021 - - -
P/E ratio 2021 34,0x
Yield 2021 -
Capitalization 585 M 585 M -
Capi. / Sales 2021 3,12x
Capi. / Sales 2022 2,52x
Nbr of Employees 185
Free-Float 97,9%
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Technical analysis trends ANTARES PHARMA, INC.
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Mean consensus BUY
Number of Analysts 7
Last Close Price 3,45 $
Average target price 6,64 $
Spread / Average Target 92,5%
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Managers and Directors
Robert F. Apple President, Chief Executive Officer & Director
Fred M. Powell Chief Financial Officer & Executive Vice President
Leonard S. Jacob Chairman
Jonathan S. Jaffe Vice President-Clinical & Medical Affairs
Peter C. Richardson Chief Medical Officer & Executive VP-Research
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