Imprimis Pharmaceuticals, Inc. (NASDAQ: IMMY) rose Tuesday after the company reported year-over-year increase in Q2 EPS and sales.
The San Diego-based company reported Monday that revenues were $10.4 million, up 51% year-over-year. Adjusted EBITDA (a non-GAAP measure) was $442,000. Net income (GAAP basis) was $2.5 million
Said CEO Mark Baum, "Building on our momentum from Q1, the second quarter of 2018 was the best quarter in our company's history. Revenues hit record highs, gross margins were the highest in the company's history, our operating business is cash flowing and we achieved our first profitable quarter on an adjusted EBITDA basis.
"We've now had double digit or better year-over-year revenue growth for over four years, and our most important metrics related to operating efficiencies, prescription renewal rates, customer service quality and customer count continue to trend in the right direction. Now more than ever, our growth is evidence that our value proposition is resonating with physician customers and their patients."
Imprimis Pharmaceuticals is a commercial-stage pharmaceutical company. In addition to owning the nation's leading ophthalmology pharmaceutical compounding business, ImprimisRx, the Company holds large equity positions in Eton Pharmaceuticals, Surface Pharmaceuticals and Melt Pharmaceuticals, companies originally founded as subsidiaries of Imprimis. The Company also owns royalty rights in certain 505(b)(2) drug candidates being developed by Eton, Surface and Melt.
Shares in the firm moved up 26 cents, or 10.6%, to $2.72, within a 52-week trading of $1.35 to $2.79.
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