ANI Pharmaceuticals (ANIP)

[Just the facts maam]

Easka, I had only seen it in their Career pages. Corti is approved for many indication, including eye related diseases. It looks like that is going to be their MO for Corti's growth. They expanded slowly into pulmonology and are now ramping up. I see ophthalmology related positions becoming available in the future. They are or have conducted phase two trial for Stevens Syndrome (dermatology), so I see that as a future expansion as well. The 1 ml vial may be a trigger for expansion into some other previously approved indications. Getting the J Code is important in getting physicians paid for administering the drug, this should open doors to its expanded use. It will be interesting to see how it get covered by various insurance providers. I believe they are or will working with Veeva to assess potential prescribers and how many positions are justified.

It appears that Guggenheim estimated peak sales of Corti at $300 million. However, Lalwani, without giving an estimate for peak sales did indicate that they look to bring prescription back to peak levels. The $300 million estimate does not appear to include Acute Gouty Arthritis or Ophthalmology let alone other indications that could benefit from a 1 ml vial.

The following is why I believe they will beat analyst revenue estimates. Lalwani added that ANIP is set to continuously generate cash and are not relying on a deal to drive growth. Though any deal will add revenue immediately with at least 7 years of IP , not a product under development. With cash on hand of over $200 million for the full year. He did not say how much over but that would give them net income of at least $7 million and that is in spite of paying out Samy and company for the Product development-based milestone payments approx. $20 million), which according to Q3 's 10-Q filing stated they expect to pay out in 2024.

Analyst consensus for 2024 revenue is $501.09 million, I believe guidance will come out at $525 to $550 million, with quarterly upgrades throughout the year.

JMHO.