27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Jazz Pharmaceuticals plc (NASDAQ:JAZZ), a global biopharmaceutical company, announced its financial results Tuesday afternoon for the third quarter of 2021 and updated financial guidance for 2021.
"Last year, we set the ambitious corporate objective of completing five key commercial launches through 2020 and 2021. With the launch of Xywav for idiopathic hypersomnia earlier this month, we have now accomplished this goal, demonstrating our significant execution capabilities and commitment to bring important new medicines forward for patients," Bruce Cozadd, chairman, and CEO of Jazz Pharmaceuticals said late Tuesday in a press release.
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Financial Highlights:
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Total revenues increased 39% to $838.1 million compared to 3Q20.
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52% of net product sales from recently launched or acquired products.
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Exceptional Xywav® adoption in narcolepsy with approximately 6,000 active patients exiting 3Q21.
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Xywav for idiopathic hypersomnia (IH) launched November 1, 2021.
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Continued Epidiolex® revenue growth of 21% compared to 3Q20 despite COVID-19 pressure.
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The top-tier launch has established Zepzelca® as the second-line SCLC treatment of choice.
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Rylaze™ launch progressing well; positive feedback from key stakeholders.
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Pipeline advancing with key trial initiations underway for JZP385, JZP150, and Zepzelca.
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Raising full-year 2021 earnings guidance.
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Net leverage ratio reduced by 0.5x to 4.4x1 in the five months following GW transaction close.
- GAAP net income (loss) for 3Q21 was ($52.8 million), or ($0.86) per diluted share, compared to $148.2 million, or $2.64 per diluted share, for 3Q20.
- Non-GAAP adjusted net income for 3Q21 was $261.4 million, or $4.20 per diluted share, compared to $242.1 million, or $4.31 per diluted share, for 3Q20.
Cash Flow and Balance Sheet:
As of September 30, 2021, cash and cash equivalents were $671.8 million, and the outstanding principal balance of the Company's long-term debt was $6.6 billion compared to $7.1 billion as of June 30, 2021.
In addition, the Company had undrawn borrowing capacity under a revolving credit facility of $500 million.
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For the nine months ended September 30, 2021, the Company generated $600.8 million of cash from operations.
During the third quarter, and aligned to its stated deleveraging target, Jazz Pharmaceuticals made significant debt repayments of $477.6 million.
Renée Galá, executive vice president and CFO, noted: "This is an exciting time of transformation for Jazz, underpinned by operational execution, financial discipline, and strategic capital allocation across our business. We continue to deliver on our business and financial targets which have enabled us to rapidly reduce our net leverage ratio to 4.41 times in just five months following the close of the GW transaction.”
Galá also referred to revenue growth and diversification. “Recently launched or acquired products now make up over 50% of net product sales, and we remain on track to meet our goal of at least 65% in 2022. We will continue to prioritize disciplined capital allocation to assets and activities that drive growth and value while remaining focused on achieving our net leverage ratio target of fewer than 3.51 times by the end of next year."
2021 Financial Guidance
Jazz Pharmaceuticals is raising its full-year earnings guidance, resulting in a reduced GAAP net loss and increased non-GAAP adjusted net income (ANI) on an absolute and per-share basis.
In May, Jazz Pharmaceuticals finalized the acquisition of the cannabinoid drug company GW Pharmaceuticals (NASDAQ:GWPH). Under the terms of the agreement, the Ireland-based company agreed to purchase the producer of the FDA‑approved prescription cannabidiol drug Epidiolex for $7.2 billion or $6.7 billion net of GW Pharma's cash.
Epidiolex is the first FDA-authorized CBD medicine for treating children with severe forms of epilepsy. The medicine was first approved for treatments of seizures connected to Lennox-Gastaut syndrome and Dravet syndrome.
Image By Ilona Szentivanyi
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.