ANI Pharmaceuticals Files Q3 2024 Report

TL;DR

ANI Pharma Q3 2024 report filed. Details pending.

AI Summary

ANI Pharmaceuticals Inc. reported its third-quarter results for the period ending September 30, 2024. The company's filing indicates a fiscal year end of December 31, 2024. Specific financial figures and operational details for the quarter were not fully detailed in the provided snippet.

Why It Matters

This filing provides investors with an update on ANI Pharmaceuticals' financial performance and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: low — The provided snippet is a header and does not contain substantive financial or operational risks.

Key Numbers

• 20240930 — Period End Date (Third quarter reporting period)
• 20241108 — Filing Date (Date the report was submitted)

Key Players & Entities

• ANI PHARMACEUTICALS INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241108 (date) — Filing Date
• 210 MAIN STREET WEST (location) — Business Address
• BAUDETTE (location) — City
• MN (location) — State
• 56623 (location) — ZIP Code

FAQ

Filing Documents

• anip-20240930.htm (10-Q) — 2017KB
• a104anipharmaceuticalsinca.htm (EX-10.4) — 21KB
• a105anipharmaceuticalsinca.htm (EX-10.5) — 76KB
• anip-20240930x10qxexx311.htm (EX-31.1) — 10KB
• anip-20240930x10qxexx312.htm (EX-31.2) — 10KB
• anip-20240930x10qxexx321.htm (EX-32.1) — 7KB
• 0001023024-24-000102.txt ( ) — 11836KB
• anip-20240930.xsd (EX-101.SCH) — 78KB
• anip-20240930_cal.xml (EX-101.CAL) — 110KB
• anip-20240930_def.xml (EX-101.DEF) — 512KB
• anip-20240930_lab.xml (EX-101.LAB) — 935KB
• anip-20240930_pre.xml (EX-101.PRE) — 739KB
• anip-20240930_htm.xml (XML) — 1687KB

—FINANCIAL INFORMATION

PART I —FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) 5 Condensed Consolidated Balance Sheets — As of September 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Operations — For the Three and Nine Months Ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Comprehensive (Loss) Income — For the Three and Nine Months Ended September 30, 2024 and 2023 8 Condensed Consolidated Statements of Changes in Mezzanine Equity and Stockholders' Equity — For the Three and Nine Months Ended September 30, 2024 and 2023 9 Condensed Consolidated Statements of Cash Flows — For the Nine Months Ended September 30, 2024 and 2023 11 Notes to Condensed Consolidated Financial Statements 13 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 60 Item 4.

Controls and Procedures

Controls and Procedures 60

—OTHER INFORMATION

PART II —OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 61 Item 1A.

Risk Factors

Risk Factors 61 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 66 Item 3. Defaults upon Senior Securities 66 Item 4. Mine Safety Disclosures 66 Item 5. Other Information 67 Item 6. Exhibits 67

Signatures

Signatures 69 2 Table of Contents CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q and certain information incorporated herein by reference contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such statements include, but are not limited to, statements about future operations, strategies and growth potential, the revenue potential (licensing, royalty and sales) of products we sell, development timelines, expected timeframe for submission of new drug applications, abbreviated new drug applications, or supplemental new drug applications to the U.S. Food and Drug Administration (the "FDA"), pipeline or potential markets for our products, selling and marketing strategies a nd associated costs to support the sales of Purified Cortrophin Gel (Repository Corticotropin Injection USP) ("Cortrophin Gel"), the closing of the acquisition of Alimera Sciences, Inc. ( " Alimera " ), impact of accounting principle s, litigation expenses, liquidity and capital resources, the impact of global pandemics on our business, and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "plans," "potential," "future," "believes," "intends," "continue," other words of similar meaning, derivations of such words, and the use of future dates. Such forward-looking statements are based on the reasonable beliefs of our management as well as assumptions made by and information currently available to our management. Readers should not put undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified; therefore, our actual results may differ materially from those described in any forward-

— FINANCIAL INFORMATION

Part I — FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited) 5 ANI PHARMACEUTICALS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) (unaudited) Assets September 30, 2024 December 31, 2023 Current Assets Cash and cash equivalents $ 144,982 $ 221,121 Restricted cash 35 — Accounts receivable, net of $ 91,008 and $ 97,262 of adjustments for chargebacks and other allowances at September 30, 2024 and December 31, 2023, respectively 196,361 162,079 Inventories 148,042 111,196 Prepaid income taxes 6,104 — Assets held for sale — 8,020 Prepaid expenses and other current assets 17,475 17,400 Investment in equity securities 8,298 — Total Current Assets 521,297 519,816 Non-current Assets Property and equipment, net 56,704 44,593 Deferred tax assets, net of deferred tax liabilities and valuation allowance 67,661 90,711 Intangible assets, net 569,825 209,009 Goodwill 60,426 28,221 Derivatives and other non-current assets 11,464 12,072 Total Assets $ 1,287,377 $ 904,422 Liabilities, Mezzanine Equity, and Stockholders' Equity Current Liabilities Current debt, net of deferred financing costs $ 7,152 $ 850 Accounts payable 60,890 36,683 Accrued royalties 23,447 16,276 Accrued compensation and related expenses 29,777 23,786 Accrued government rebates 10,693 12,168 Income taxes payable — 8,164 Returned goods reserve 37,068 29,678 Current contingent consideration 1,283 12,266 Accrued licensor payment 1,809 — Accrued expenses and other 17,814 5,606 Total Current Liabilities 189,933 145,477 Non-current Liabilities Non-current debt, net of deferred financing costs and current component 312,918 284,819 Non-current convertible notes, net of deferred financing costs 305,293 — Non-current contingent consideration 20,175 11,718 Accrued licensor payment, net of current 21,316 — Other non-current liabilities 6,944 4,809 Total Liabilities $ 856,579 $ 446,823 Commitments and Contingencies

View Full Filing

View this 10-Q filing on SEC EDGAR