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Lannett (LCI)

Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications.

Company profile

Ticker
LCI
Exchange
Website
CEO
Timothy Crew
Employees
Incorporated
Location
Fiscal year end
Former names
NETHERLANDS SECURITIES INC
SEC CIK
Subsidiaries
Lannett Holdings, Inc. • Cody Laboratories, Inc. • Silarx Pharmaceuticals, Inc. • Kremers Urban Pharmaceuticals, Inc. ...
IRS number
230787699

LCI stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

10 May 22
18 Aug 22
30 Jun 23
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) Jun 21 Jun 20 Jun 19 Jun 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) 111.11M 111.11M 111.11M 111.11M 111.11M 111.11M
Cash burn (monthly) (no burn) (no burn) 12.09M 15.81M 652.67K (no burn)
Cash used (since last report) n/a n/a 55.79M 73M 3.01M n/a
Cash remaining n/a n/a 55.31M 38.11M 108.1M n/a
Runway (months of cash) n/a n/a 4.6 2.4 165.6 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Jul 22 Kozlowski John Common Stock Payment of exercise Dispose F No No 0.58 8,114 4.71K 138,954
31 Jul 22 Abt John Common Stock Payment of exercise Dispose F No No 0.58 3,924 2.28K 119,775
31 Jul 22 Cavanaugh Maureen Common Stock Payment of exercise Dispose F No No 0.58 5,656 3.28K 143,896
31 Jul 22 Crew Timothy C Common Stock Payment of exercise Dispose F No No 0.58 19,368 11.23K 589,291
31 Jul 22 Israel Samuel H Common Stock Payment of exercise Dispose F No No 0.58 10,154 5.89K 156,644
29 Jul 22 Kozlowski John Common Stock Payment of exercise Dispose F No No 0.58 3,330 1.93K 147,068
29 Jul 22 Abt John Common Stock Payment of exercise Dispose F No No 0.58 1,798 1.04K 123,699
29 Jul 22 Cavanaugh Maureen Common Stock Payment of exercise Dispose F No No 0.58 3,042 1.76K 149,552
29 Jul 22 Crew Timothy C Common Stock Payment of exercise Dispose F No No 0.58 9,227 5.35K 608,659
29 Jul 22 Israel Samuel H Common Stock Payment of exercise Dispose F No No 0.58 5,465 3.17K 166,798
16.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 69 65 +6.2%
Opened positions 6 6
Closed positions 2 16 -87.5%
Increased positions 12 15 -20.0%
Reduced positions 24 20 +20.0%
13F shares Current Prev Q Change
Total value 33.77M 37.54M -10.0%
Total shares 22.22M 25.62M -13.3%
Total puts 79.4K 78.3K +1.4%
Total calls 60.3K 46.5K +29.7%
Total put/call ratio 1.3 1.7 -21.8%
Largest owners Shares Value Change
Telemus Capital 7.38M $4.28M 0.0%
Renaissance Technologies 2.2M $1.27M -4.7%
D. E. Shaw & Co 1.89M $12.3M 0.0%
D. E. Shaw & Co. 1.77M $1.03M -11.9%
MintBroker International 1.4M $7.21M 0.0%
LSV Asset Management 1.06M $615K -12.9%
Vanguard 704.19K $409K +7.6%
BLK Blackrock 576.21K $334K -12.5%
Two Sigma Advisers 551.9K $320K -22.0%
Staley Capital Advisers 515.15K $299K +10.7%
Largest transactions Shares Bought/sold Change
JPM JPMorgan Chase & Co. 131 -2.61M -100.0%
D. E. Shaw & Co. 1.77M -237.59K -11.9%
Millennium Management 159.59K -228.37K -58.9%
Two Sigma Investments 412.32K -169.66K -29.2%
Atria Wealth Solutions 304.7K +163.11K +115.2%
LSV Asset Management 1.06M -157.53K -12.9%
Two Sigma Advisers 551.9K -155.8K -22.0%
Assenagon Asset Management 337.49K +153.45K +83.4%
Renaissance Technologies 2.2M -107.67K -4.7%
Susquehanna International 101.04K -93.5K -48.1%

Financial report summary

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Risks
  • The generic pharmaceutical industry is highly competitive.
  • We have and will continue to enter into strategic alliances and collaborations with third parties, including companies based outside of the U.S., for the commercialization of some of our drug candidates. If those collaborations are not successful, we may not be able to capitalize on the market potential of these drug candidates.
  • The development, approval process, manufacture and commercialization of biosimilar products involve unique challenges and uncertainties, and our failure to successfully introduce biosimilar products could have a negative impact on our business, financial condition, results of operations and cash flows.
  • If we are unable to obtain sufficient supplies from key suppliers that in some cases may be the only source of finished products or raw materials, our ability to deliver our products to the market may be impeded.
  • Our policies regarding returns, allowances and chargebacks and marketing programs adopted by wholesalers may reduce our revenues in future fiscal periods.
  • Health care initiatives and other third-party payor cost-containment pressures have and could continue to cause us to sell our products at lower prices, resulting in decreased revenues.
  • Sales of our products may continue to be adversely affected by the continuing consolidation of our distribution network and the concentration of our customer base.
  • We expend a significant amount of resources on research and development efforts that may not lead to successful product introductions.
  • Our substantial indebtedness may adversely affect our financial health.
  • The agreements and instruments governing our debt, contain restrictions and limitations that could significantly impact our ability to operate our business.
  • Due to many factors beyond our control, we may not be able to generate sufficient cash to service all of our indebtedness and meet our other ongoing liquidity needs and we may be forced to take other actions to satisfy our obligations under our debt agreements, which may not be successful.
  • Our gross profit may fluctuate from period to period depending upon our product sales mix, our product pricing and our costs to manufacture or purchase products.
  • A relatively small group of products may represent a significant portion of our revenues, gross profit, or net earnings from time to time.
  • If our intangible assets become impaired, we may be required to record a significant charge to earnings.
  • We may incur additional tax liabilities related to our operations.
  • Our tax returns and positions are subject to review and audit by the Internal Revenue Service and other tax authorities, and any adverse outcomes resulting from any examination of our tax returns could adversely affect our liquidity and financial condition.
  • Governmental investigations into sales and marketing practices in the generic pharmaceutical industry and claims by private parties relating to such investigations may result in substantial penalties or settlements.
  • The recent enactment of State laws affecting the pricing of our products could have the effect of reducing our profitability.
  • Extensive industry regulation has had and will continue to have, a significant impact on our business in the area of cost of goods, especially our product development, manufacturing and distribution capabilities.
  • If brand pharmaceutical companies are successful in limiting the use of generics through their legislative and regulatory efforts, our sales of generic products may suffer.
  • The generic pharmaceutical industry is characterized by intellectual property litigation and third parties may claim that we infringe on their proprietary rights, which could result in litigation that could be costly, result in the diversion of management’s time and efforts, require us to pay damages or prevent us from marketing our existing or future products.
  • Our reporting and payment obligations related to our participation in U.S. federal healthcare programs, including Medicare, Medicaid and the Department of Veterans Affairs, are complex and often involve subjective decisions that could change as a result of new business circumstances, new regulations or agency guidance, or advice of legal counsel. Any failure to comply with those obligations could subject us to investigation, penalties, and sanctions.
  • We may need to change our business practices to comply with changes to fraud and abuse laws.
  • We may become subject to federal and state false claims litigation brought by private individuals and the government.
  • Federal regulation of arrangements between manufacturers of brand and generic products could adversely affect our business.
  • Investigations of the calculation of average wholesale prices may adversely affect our business.
  • We may incur product liability losses or recall expenses relating to the sale of products containing nitrosamines.
  • Increasing scrutiny and evolving expectations from customers, regulators, investors, and other stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
  • Public health threats, including a pandemic, epidemic or outbreak of an infectious disease in the United States or elsewhere may adversely affect our business and financial results.
  • The loss of key personnel could cause our business to suffer.
  • We are increasingly dependent on information technology and our systems and infrastructure face certain risks, including cybersecurity and data leakage risks.
  • Rising insurance costs, as well as the inability to obtain certain insurance coverage for risks faced by us, could negatively impact profitability.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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