LCI Lannett

Lannett Co., Inc. engages in the development, manufacture, marketing, and distribution of generic pharmaceutical products. It offers products in different forms including capsules, tablets, liquids, powders, and sprays. The company was founded in 1942 and is headquartered in Philadelphia, PA.
Company profile
Ticker
LCI
Exchange
Website
CEO
Timothy Crew
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
230787699
LCI stock data
()
News
Stocks That Hit 52-Week Lows On Friday
16 Apr 21
Stocks That Hit 52-Week Lows On Wednesday
14 Apr 21
Stocks That Hit 52-Week Lows On Monday
12 Apr 21
Lannett Submits ANDA For Generic ADVAIR DISKUS
1 Apr 21
Lannett Receives FDA Feedback On Development Of Biosimilar Insulin Glargine; Co. Says Remains On Track To Submit IND Later This Year
10 Mar 21
Press releases
Lannett Announces Pricing Of $350 Million Senior Secured Notes Due 2026
9 Apr 21
Lannett Announces Offering Of $350 Million Senior Secured Notes Due 2026
6 Apr 21
Lannett Submits ANDA For Generic ADVAIR DISKUS®
1 Apr 21
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Lannett Company, Inc. - LCI
21 Mar 21
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Lannett Company, Inc. - LCI
18 Mar 21
Calendar
4 Feb 21
17 Apr 21
30 Jun 21
Financial summary
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Dec 20 | Sep 20 | Jun 20 | Mar 20 | |
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Financial data from Lannett earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 39.22M | 39.22M | 39.22M | 39.22M | 39.22M | 39.22M |
Cash burn (monthly) | 23.18M | 6.66M | 72.2M | 18.6M | 4.13M | (positive/no burn) |
Cash used (since last report) | 82.75M | 23.78M | 257.71M | 66.4M | 14.73M | n/a |
Cash remaining | -43.53M | 15.44M | -218.49M | -27.18M | 24.49M | n/a |
Runway (months of cash) | -1.9 | 2.3 | -3.0 | -1.5 | 5.9 | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
19 Feb 21 | Taveira Paul | Common Stock | Sell | Dispose S | No | No | 6.58 | 30,000 | 197.4K | 60,401 |
8 Feb 21 | Drabik David A | Common Stock | Sell | Dispose S | No | No | 6.08 | 33,445 | 203.35K | 51,513 |
2 Jan 21 | Crew Timothy C | Common Stock | Payment of exercise | Dispose F | No | No | 6.52 | 1,905 | 12.42K | 401,058 |
10 Nov 20 | Crew Timothy C | Common Stock | Buy | Aquire P | No | Yes | 6.04 | 3,000 | 18.12K | 402,963 |
26 Oct 20 | Kozlowski John | Common Stock | Payment of exercise | Dispose F | No | No | 6.78 | 658 | 4.46K | 104,280 |
30 Sep 20 | Crew Timothy C | Common Stock | Other | Aquire J | No | No | 5.19 | 731 | 3.79K | 399,963 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
97.0% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 125 |
Opened positions | 10 |
Closed positions | 18 |
Increased positions | 36 |
Reduced positions | 44 |
13F shares |
Current |
---|---|
Total value | 316.04M |
Total shares | 40.18M |
Total puts | 684.9K |
Total calls | 323.1K |
Total put/call ratio | 2.1 |
Largest owners |
Shares | Value |
---|---|---|
Telemus Capital | 7.69M | $44.15M |
BLK Blackrock | 5.24M | $34.15M |
JPM JPMorgan Chase & Co. | 3.79M | $24.68M |
Highbridge Capital Management | 2.34M | $15.27M |
Vanguard | 2.31M | $15.04M |
D. E. Shaw & Co. | 1.89M | $12.3M |
D. E. Shaw & Co | 1.89M | $12.3M |
Renaissance Technologies | 1.89M | $12.29M |
LSV Asset Management | 1.87M | $12.22M |
STT State Street | 1.25M | $8.14M |
Financial report summary
?Risks
- A relatively small group of products may represent a significant portion of our revenues, gross profit, or net earnings from time to time.
- The generic pharmaceutical industry is highly competitive.
- If we are unable to successfully develop or commercialize new products, our operating results will suffer.
- 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.
- Our substantial indebtedness may adversely affect our financial health.
- 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.
- The Amended Senior Secured Credit Facility imposes operating and financial restrictions, which may prevent us from pursuing certain business opportunities and taking certain actions that may be potentially profitable or in our best interests.
- Our Amended Senior Secured Credit Facility contains financial covenants and other restrictive covenants that may limit our flexibility. We may not be able to comply with these covenants, which could result in the amounts outstanding under our Amended Senior Secured Credit Facility becoming immediately due and payable.
- Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
- Management’s plans to address the impact of the nonrenewal of the JSP Distribution Agreement may not be successful.
- 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.
- 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.
- The market price of our common stock has been volatile and may continue to be volatile in the future, and the value of any investment in our common stock could decline significantly.
- If our intangible assets become impaired, we may be required to record a significant charge to earnings.
- 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.
- Our manufacturing operations as well as our suppliers’ manufacturing operations are subject to establishment registration by the FDA and periodic inspections by the FDA to assure compliance regarding the manufacturing of our products. If we or our suppliers do not maintain the current registrations or if we or our partners receive notices of manufacturing and quality-related observations following inspections by the FDA, our operating results would be materially negatively impacted.
- The loss of key personnel could cause our business to suffer.
- 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.
- 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.
- 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.
- 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 are increasingly dependent on information technology and our systems and infrastructure face certain risks, including cybersecurity and data leakage risks.
- The design, development, manufacture and sale of our products involves the risk of product liability claims by consumers and other third parties and insurance against such potential claims is expensive and may be difficult to obtain.
- Rising insurance costs, as well as the inability to obtain certain insurance coverage for risks faced by us, could negatively impact profitability.
- Federal regulation of arrangements between manufacturers of brand and generic products could adversely affect our business.
- We expend a significant amount of resources on research and development efforts that may not lead to successful product introductions.
- Investigations of the calculation of average wholesale prices may adversely affect our business.
- Other manufacturers and distributors of pain management products have had complaints filed against and investigations commenced on them, and if similar actions are taken against us, it could reduce our revenue and future profitability.
- Guidelines and recommendations published by various organizations can reduce the use of our pain management products.
- Acquisitions could result in operating difficulties, dilution and other harmful consequences that may adversely impact our business and results of operations.
- The phase out of the London Interbank Offered Rate (LIBOR), or the replacement of LIBOR with a different reference rate, may adversely affect interest rates.
Content analysis
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Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
absence, affirmative, annum, Arbitration, buyer, classified, clerk, conditionally, consecutive, constitute, create, cure, defect, dispute, email, evidence, exceeding, external, factor, floating, forma, Gainesville, Guarantor, inclined, incurrence, junior, margin, Maryland, Master, Minnesota, missing, month, monthly, opposed, overtime, Payor, perfected, PM, preemption, premium, Priority, pro, procedural, produce, Recro, repaid, satisfaction, spike, SR, succeeding, swing, tangible, triamterene, Unused, Verapamil, Verelan, weighing
Removed:
achieve, brought, Columbia, data, Exhibit, expire, failure, generating, joined, JPML, Judicial, Panel, partial, Puerto, receipt, registrant, Revolver, Rico, unsecured
Financial reports
10-Q
2021 Q2
Quarterly report
4 Feb 21
10-Q
2021 Q1
Quarterly report
5 Nov 20
10-K
2020 FY
Annual report
27 Aug 20
10-Q
2020 Q3
Quarterly report
6 May 20
10-Q
2020 Q2
Quarterly report
6 Feb 20
10-Q
2020 Q1
Quarterly report
7 Nov 19
10-K
2019 FY
Annual report
28 Aug 19
10-Q
2019 Q3
Quarterly report
6 May 19
10-Q
2019 Q2
Quarterly report
7 Feb 19
10-Q
2019 Q1
Quarterly report
8 Nov 18
Current reports
8-K
Entry into a Material Definitive Agreement
12 Apr 21
8-K
LANNETT Announces Pricing of $350 million Senior secured Notes
9 Apr 21
8-K
Entry into a Material Definitive Agreement
6 Apr 21
8-K
INVESTOR PRESENTATION April 2021 © 2021 Lannett Company, Inc. All Rights Reserved. For Discussion Purposes Only
6 Apr 21
8-K
LANNETT Announces Offering of $350 million Senior secured Notes
6 Apr 21
8-K
Lannett Expands Strategic Relationship to Include Biosimilar Fast-acting Insulin
9 Feb 21
8-K
Lannett Announces Fiscal 2021 Second-quarter Financial Results In Line or Above Expectations
4 Feb 21
8-K
Submission of Matters to a Vote of Security Holders
28 Jan 21
8-K
Material Impairments
14 Jan 21
8-K
Departure of Directors or Certain Officers
29 Dec 20
Registration and prospectus
S-8
Registration of securities for employees
22 Feb 21
S-3
Shelf registration
20 Dec 19
S-8
Registration of securities for employees
22 Mar 19
S-3ASR
Automatic shelf registration
12 Feb 18
S-3ASR
Automatic shelf registration
11 May 17
S-8
Registration of securities for employees
22 Jan 14
25
Voluntary exchange delisting
11 Dec 13
8-A12B
Registration of securities on exchange
1 Dec 13
424B5
Prospectus supplement for primary offering
3 Oct 13
FWP
Free writing prospectus
3 Oct 13
Proxies
DEF 14A
Definitive proxy
7 Dec 20
DEF 14A
Definitive proxy
6 Dec 19
DEFA14A
Additional proxy soliciting materials
21 Dec 18
DEF 14A
Definitive proxy
10 Dec 18
DEF 14A
Definitive proxy
6 Dec 17
DEF 14A
Definitive proxy
11 Dec 16
DEF 14A
Definitive proxy
7 Dec 15
PRE 14A
Preliminary proxy
26 Nov 15
DEF 14A
Definitive proxy
15 Dec 14
DEF 14A
Definitive proxy
16 Dec 13
Other
EFFECT
Notice of effectiveness
27 Jan 20
CORRESP
Correspondence with SEC
20 Jan 20
CORRESP
Correspondence with SEC
8 Jan 20
UPLOAD
Letter from SEC
30 Dec 19
CT ORDER
Confidential treatment order
27 Feb 19
UPLOAD
Letter from SEC
25 Apr 17
CORRESP
Correspondence with SEC
28 Mar 17
UPLOAD
Letter from SEC
15 Mar 17
CORRESP
Correspondence with SEC
6 Mar 17
UPLOAD
Letter from SEC
22 Feb 17
Ownership
SC 13G/A
LANNETT / D. E. SHAW & CO ownership change
16 Feb 21
SC 13G/A
LANNETT / LSV ASSET MANAGEMENT ownership change
11 Feb 21
4
LANNETT / Paul Taveira ownership change
10 Feb 21
4
LANNETT / David A Drabik ownership change
10 Feb 21
SC 13G/A
LANNETT / VANGUARD ownership change
9 Feb 21
SC 13G/A
LANNETT / HIGHBRIDGE CAPITAL MANAGEMENT ownership change
9 Feb 21
SC 13G/A
LANNETT / BlackRock ownership change
26 Jan 21
SC 13G/A
LANNETT / JPMORGAN CHASE & CO ownership change
25 Jan 21
4
LANNETT / Timothy C Crew ownership change
5 Jan 21
4
LANNETT / Timothy C Crew ownership change
12 Nov 20
Transcripts
2021 Q2
Earnings call transcript
4 Feb 21
2021 Q1
Earnings call transcript
4 Nov 20
2020 Q4
Earnings call transcript
26 Aug 20
2020 Q3
Earnings call transcript
6 May 20
2020 Q2
Earnings call transcript
5 Feb 20
2020 Q1
Earnings call transcript
6 Nov 19
2019 Q4
Earnings call transcript
27 Aug 19
2019 Q3
Earnings call transcript
6 May 19
2019 Q2
Earnings call transcript
6 Feb 19
2019 Q1
Earnings call transcript
7 Nov 18
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