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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
CEO
Timothy Crew
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
230787699

LCI stock data

(
)

Calendar

4 Feb 21
17 Apr 21
30 Jun 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

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

Beta Read what these cash burn values mean

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

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 Prev Q Change
Total holders 125 133 -6.0%
Opened positions 10 10
Closed positions 18 26 -30.8%
Increased positions 36 39 -7.7%
Reduced positions 44 42 +4.8%
13F shares
Current Prev Q Change
Total value 316.04M 1.41B -77.6%
Total shares 40.18M 35.86M +12.0%
Total puts 684.9K 783.2K -12.6%
Total calls 323.1K 340.5K -5.1%
Total put/call ratio 2.1 2.3 -7.8%
Largest owners
Shares Value Change
Telemus Capital 7.69M $44.15M 0.0%
BLK Blackrock 5.24M $34.15M +2.7%
JPM JPMorgan Chase & Co. 3.79M $24.68M +9.5%
Highbridge Capital Management 2.34M $15.27M NEW
Vanguard 2.31M $15.04M -0.1%
D. E. Shaw & Co. 1.89M $12.3M +4.8%
D. E. Shaw & Co 1.89M $12.3M NEW
Renaissance Technologies 1.89M $12.29M +11.0%
LSV Asset Management 1.87M $12.22M -6.8%
STT State Street 1.25M $8.14M -3.0%
Largest transactions
Shares Bought/sold Change
Highbridge Capital Management 2.34M +2.34M NEW
D. E. Shaw & Co 1.89M +1.89M NEW
JPM JPMorgan Chase & Co. 3.79M +327.98K +9.5%
Renaissance Technologies 1.89M +186.62K +11.0%
Aqr Capital Management 19.05K -148.25K -88.6%
BLK Blackrock 5.24M +139.55K +2.7%
LSV Asset Management 1.87M -135.84K -6.8%
IVZ Invesco 595.16K +114.43K +23.8%
Virginia Retirement Systems Et Al 0 -89K EXIT
Charles Schwab Investment Management 506.66K +88.35K +21.1%

Financial report summary

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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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Constraining
Legalese
Litigous
Readability
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