Neos Therapeutics Reports Third Quarter 2019 Financial Results

DALLAS and FORT WORTH, Texas, Nov. 08, 2019 (GLOBE NEWSWIRE) — Neos Therapeutics, Inc. (Nasdaq: NEOS), a commercial-stage pharmaceutical company utilizing its novel microparticle delivery technology to develop and manufacture central nervous system-focused products, today reported financial results for the third quarter ended September 30, 2019 and provided a business update.“During the third quarter of 2019, we reported 40 percent year-over-year revenue growth, which, combined with our continued improvement in quarterly operating net loss, highlights the strong progress we have made toward our goal of achieving profitability,” said Jerry McLaughlin, President and Chief Executive Officer. “In addition, we continued to increase the number of pharmacies included in our Neos RxConnect patient assistance program, and believe the further expansion of this network will be an important future growth driver for our business. We are also very excited about the progress we have made with our lead pipeline candidate, NT0502, which we expect to enter Phase 1 clinical trials shortly. There is a large unmet need for new treatments for sialorrhea, and we believe that we can uniquely meet this need with a novel mechanism that leverages our microparticle technology. We believe NT0502 has the potential to become the standard of treatment for sialorrhea and truly improve the lives of patients and their caregivers.”ADHD Commercial FranchiseGrowth in Net Revenue Per Pack Reflects Successful Shift to More Profitable Business Channels and Market Segments: Neos reported growth in net product sales and net revenue per pack for its two core commercial attention deficit hyperactivity disorder (ADHD) products, Adzenys XR-ODT® and Cotempla XR-ODT®, for the three months ended September 30, 2019 compared to the same period in 2018.
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