AP NEWS

BioDelivery: 3Q Earnings Snapshot

November 12, 2019 GMT

RALEIGH, N.C. (AP) _ BioDelivery Sciences International Inc. (BDSI) on Tuesday reported third-quarter net income of $354,000, after reporting a loss in the same period a year earlier.

The Raleigh, North Carolina-based company said it had profit of less than 1 cent on a per-share basis. Earnings, adjusted for amortization costs and stock option expense, came to 3 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The specialty pharmaceutical company posted revenue of $30.3 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $28.9 million.

BioDelivery expects full-year revenue in the range of $105 million to $110 million.

BioDelivery shares have increased 58% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.85, an increase of 60% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BDSI at https://www.zacks.com/ap/BDSI