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Antares Pharma (ATRS)

Antares Pharma, Inc. is a pharmaceutical technology 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), Covis Pharma (Covis), 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.

Company profile

Ticker
ATRS
Exchange
CEO
Robert Apple
Employees
Incorporated
Location
Fiscal year end
Former names
ANTARES PHARMA INC, ANTARES PHARMA INC, ANTARES PHARMA INC /MN/, MEDI JECT CORP /MN/
SEC CIK
IRS number
411350192

ATRS stock data

Calendar

10 May 22
9 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 61.72M 61.72M 61.72M 61.72M 61.72M 61.72M
Cash burn (monthly) 1.4M (no burn) 1.05M (no burn) 1.63M (no burn)
Cash used (since last report) 6.02M n/a 4.5M n/a 7M n/a
Cash remaining 55.69M n/a 57.21M n/a 54.71M n/a
Runway (months of cash) 39.8 n/a 54.7 n/a 33.6 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
24 May 22 Greenleaf Peter Common Stock Sale back to company Dispose D No No 5.6 49,425 276.78K 0
24 May 22 Greenleaf Peter Common Stock Sale back to company Dispose D No No 5.6 30,220 169.23K 0
24 May 22 Greenleaf Peter Stock Option Common Stock Sale back to company Dispose D No No 4.42 48,542 214.56K 0
24 May 22 Greenleaf Peter Stock Option Common Stock Sale back to company Dispose D No No 2.73 58,246 159.01K 0
24 May 22 Greenleaf Peter Stock Option Common Stock Sale back to company Dispose D No No 2.92 46,729 136.45K 0
24 May 22 Greenleaf Peter Stock Option Common Stock Sale back to company Dispose D No No 3.11 20,000 62.2K 0
24 May 22 Powell Fred M Common Stock Sale back to company Dispose D No No 5.6 124,234 695.71K 0
24 May 22 Powell Fred M Common Stock Sale back to company Dispose D No No 5.6 204,022 1.14M 0
24 May 22 Powell Fred M Common Stock Sale back to company Dispose D No No 5.6 587,014 3.29M 0
24 May 22 Powell Fred M Stock Option Common Stock Sale back to company Dispose D No No 4.42 163,963 724.72K 0
53.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 175 162 +8.0%
Opened positions 25 20 +25.0%
Closed positions 12 28 -57.1%
Increased positions 56 58 -3.4%
Reduced positions 57 55 +3.6%
13F shares Current Prev Q Change
Total value 375.15M 346.5M +8.3%
Total shares 91.58M 85.61M +7.0%
Total puts 24.8K 34.2K -27.5%
Total calls 316.9K 80.7K +292.7%
Total put/call ratio 0.1 0.4 -81.5%
Largest owners Shares Value Change
BLK Blackrock 11.95M $49.01M -0.6%
Rubric Capital Management 10.9M $44.69M +0.9%
Vanguard 8.64M $35.44M +2.3%
Sargent Investment 3.66M $15.02M -0.9%
Amundi 3.45M $13.95M +38.2%
STT State Street 3.45M $14.14M +3.2%
Stonepine Capital Management 3.13M $12.83M +36.3%
Russell Investments 3.05M $12.49M +166.6%
Geode Capital Management 3M $12.3M +2.2%
First Wilshire Securities Management 2.8M $11.48M +1.2%
Largest transactions Shares Bought/sold Change
Russell Investments 3.05M +1.9M +166.6%
Magnetar Financial 375.55K -1.38M -78.6%
Velan Capital Investment Management 1.35M +1.35M NEW
Amundi 3.45M +953.45K +38.2%
Stonepine Capital Management 3.13M +832.83K +36.3%
Assenagon Asset Management 1.04M +785.44K +311.3%
FMR 292.97K -545.91K -65.1%
Citadel Advisors 448.69K +395.19K +738.7%
Millennium Management 468.46K +362.86K +343.6%
Dimensional Fund Advisors 1.93M +332.97K +20.9%

Financial report summary

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Competition
MylanAgile TherapeuticsMylan II B.V.Viatris
Risks
  • We may not complete the pending transaction with Halozyme within the time frame we anticipate or at all, which could have an adverse effect on our business, financial results and/or operations.
  • The pendency of the transaction with Halozyme could adversely affect, or disrupt, our business, financial results and/or operations.
  • While the Merger Agreement is in effect, we are subject to restrictions on our business activities.
  • In certain instances, the Merger Agreement requires us to pay a termination fee to Halozyme, which could require us to use available cash that would have otherwise been available for general corporate purposes.
  • We have incurred, and will continue to incur, direct and indirect costs as a result of the pending transaction with Halozyme.
Management Discussion
  • Net revenue from product sales for the three months ended March 31, 2022 increased 10.2% over the same period in the prior year primarily driven by higher shipments of sumatriptan, epinephrine and teriparatide auto injectors to Teva and an increase in XYOSTED® proprietary product sales. The overall increase was partially offset by a reduction in OTREXUP® proprietary sales due to the sale of the OTREXUP® product line to Otter in December 2021.
  • Sales of our proprietary products XYOSTED® and NOCDURNA® (and OTREXUP® during the three months ended March 31, 2021) are presented net of estimated product returns and sales allowances. FDA approval was granted on March 28, 2022 to commercialize TLANDO® with no sales transacted in the three months ended March 31, 2022 prior to timing of the approval. The decreases in proprietary product sales of 7.8% for the three months ended March 31, 2022 was primarily attributable to a reduction in OTREXUP® proprietary sales due to the sale of the OTREXUP® product line to Otter in December 2021 which is now commercialized by Otter, partially offset by continued growth in prescriptions and sales of XYOSTED® and NOCDURNA®.
  • We also manufacture and sell devices, components and fully assembled and packaged product to our partners. Partnered product sales increased 42.5% for the three months ended March 31, 2022 primarily due to higher shipments of sumatriptan, epinephrine and teriparatide auto injectors to Teva.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: absent, acquisition, Additionally, affirmative, affirming, annum, Antitrust, appraisal, Assertio, assumption, attention, bankruptcy, bear, benchmark, beneficially, Berry, book, candidate, casualty, certificate, cessation, CG, challenging, Circuit, clearance, condemnation, consent, constant, consummated, consummation, contend, covenant, create, curtail, customary, deadline, decide, defense, deficit, Delaware, Denise, deny, deposit, desire, devote, DGCL, difficult, direct, directed, directly, disorder, diversion, diverted, drawn, Eastern, EBITDA, economy, eliminated, elimination, engineering, enjoin, environment, event, exacerbated, exceed, expansion, extinguished, fact, failure, Fast, fewer, fluidity, gain, greater, Group, guaranteed, guarantor, Halozyme, harm, highest, hiring, hold, hope, HSR, hybrid, identical, iii, immunology, impossible, incurrence, independent, indirect, injunctive, installment, intent, interaction, intercompany, irrevocably, Joe, Jordan, Joseph, Lawrence, ligation, longer, macroeconomic, Matthew, member, merge, merger, minimum, modify, month, motivate, negative, negatively, notified, Ochoa, offer, omission, ordinary, organizational, Otter, par, passed, penalty, pendency, Pennsylvania, perfected, permitted, pivotal, pledge, practice, prefilled, premium, prepay, prime, proceeding, progressing, proper, properly, prospective, purportedly, qualified, rare, recover, recruit, Redfield, reinvestment, relationship, relief, repaid, repurchase, reputation, rescission, rescissory, retention, revise, Richard, Rule, ruled, sample, SEC, settlement, Shiva, slight, software, Southern, statutory, Stein, strictly, subsidiary, Supreme, surviving, syringe, team, tender, tendered, terminated, terminating, termination, thereof, thereunder, tied, timeframe, Track, trademark, TRT, turn, Undue, unused, Vai, validly, variety, vendor, viability, voluntarily, waiting, waiver, Wilson, withdrawn, withholding, York
Removed: accelerated, accurate, allocation, amortizing, Arab, Arabia, ASC, Bone, capability, collaborating, commercializing, comprised, confirmatory, conform, defend, executing, finance, fluctuate, fluctuation, Gestation, guidance, heading, inaccuracy, inaccurate, incremental, interpret, leave, Neonatal, office, opinion, Optimizing, phased, PROLONG, promote, promotion, prove, publicly, pursue, reach, recently, reclassified, recommend, released, Reproductive, Role, Saudi, sheet, structured, taxable, temporary, Topic, unanticipated, unmet, Urologic, utilization, varying, vigorously, virtually, voted, withdrawal

Patents

Utility
Multiple Dosage Injector with Rotating Screw Dosage System
30 Jun 22
A dispensing mechanism for delivering a dosage of medicament including a housing having a proximal-distal axis; a plunger rod having a screw thread and configured to advance along the proximal-distal axis relative to the housing; a user-operable push button moveable along the proximal-distal axis relative to the housing; a twist driver threadably engaged with the push button such that movement of the push button towards the distal end of the housing causes rotation of the twist driver about the proximal-distal axis; and a driver engaged with the twist driver such that rotation of the twist driver causes rotation of the driver, the driver also engaged with a portion of the plunger rod such that rotation of the driver causes rotation of the plunger rod, advancing the plunger rod along the proximal-distal axis relative to the housing.
Utility
Hematocrit Modulation Through Needle Assisted Jet Injection of Testosterone
28 Apr 22
The present invention provides compositions and methods for treating a subject in need of treatment with testosterone, including introducing testosterone into the subject subcutaneously, intradermally, or intramuscularly, from a needle assisted injection device.
Utility
Multiple dosage injector with rotating screw dosage system
5 Apr 22
A dispensing mechanism for delivering a dosage of medicament including a housing having a proximal-distal axis; a plunger rod having a screw thread and configured to advance along the proximal-distal axis relative to the housing; a user-operable push button moveable along the proximal-distal axis relative to the housing; a twist driver threadably engaged with the push button such that movement of the push button towards the distal end of the housing causes rotation of the twist driver about the proximal-distal axis; and a driver engaged with the twist driver such that rotation of the twist driver causes rotation of the driver, the driver also engaged with a portion of the plunger rod such that rotation of the driver causes rotation of the plunger rod, advancing the plunger rod along the proximal-distal axis relative to the housing.
Utility
Aqueous Pharmaceutical Formulation of Hydrocortisone Sodium Phosphate and Monothioglycerol
31 Mar 22
Aqueous hydrocortisone sodium phosphate and monothioglycerol formulations are disclosed.
Utility
Testosterone Ester Triglyceride Formulations
17 Mar 22
Testosterone ester triglyceride formulations, optionally further including adducts.