Market research firm Symphony Health recently released its August estimates for EXPAREL volume and sales. According to the data, both figures decreased from July, along with other hospital pain treatments. Nonetheless, Wedbush assured, the third quarter remains “on-tack.”
The decline in volumes “may reflect a transient decrease in elective procedures due to vacations,” the report explained. However, third quarter sales seem to be tracking in-line with consensus of roughly $58.2 million.
A Word Of Caution
Having said this, Wedbush remains cautious on using Symphony Health’s data “as an accurate representation for true sales as it has historically captured a wide range (68.5 percent - 108 percent) of EXPAREL sales -- due to the manner in which SH data is collected and audited -- particularly on a month-to-month basis.”
In addition, Moussatos and Chikere highlighted, management assures that the slowdown in EXPAREL’s growth has hit a bottom. The team anticipates a flat third quarter (over the second quarter) and some net growth in sales as of the seasonally strong fourth quarter.
Symphony Health will release it data for September EXPAREL sales and volume on October 2.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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