Amphastar Pharmaceuticals Files Q3 2024 10-Q

Ticker: AMPH · Form: 10-Q · Filed: 2024-11-07T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, share-repurchase

TL;DR

Amphastar's Q3 10-Q is in, showing share repurchase activity. Check financials for details.

AI Summary

Amphastar Pharmaceuticals, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial performance and activities, including share repurchases under its November 2014 Share Repurchase Plan. Specific financial details and dollar amounts for treasury stock and repurchase plans are detailed within the filing.

Why It Matters

This filing provides investors with an update on Amphastar's financial health and strategic actions like share repurchases, which can impact stock value and investor confidence.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information and disclosures that could reveal risks or opportunities affecting the company's stock price.

Key Numbers

Key Players & Entities

FAQ

What was the total value of treasury stock transactions during the third quarter of 2024?

The filing indicates treasury stock transactions occurred between 2024-07-01 and 2024-09-30, but specific dollar amounts are not provided in this header.

How much was repurchased under the November 2014 Share Repurchase Plan in Q3 2024?

The filing notes activity under the November 2014 Share Repurchase Plan for the period 2024-07-01 to 2024-09-30, but the exact dollar amount is not detailed here.

What is Amphastar Pharmaceuticals' fiscal year end?

Amphastar Pharmaceuticals' fiscal year ends on 12-31.

When was the filing submitted to the SEC?

This 10-Q filing was submitted on 2024-11-07.

Are there any subsequent events disclosed as of the filing date?

Yes, the filing mentions subsequent events related to the November 2014 Share Repurchase Plan as of 2024-11-04.

Filing Stats: 4,381 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-11-07 16:18:47

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION PAGE

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) : Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 6

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosure about Market Risk

Item 3. Quantitative and Qualitative Disclosure about Market Risk 44

Controls and Procedures

Item 4. Controls and Procedures 44

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 45

Risk Factors

Item 1A. Risk Factors 45

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 46

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 46

Other Information

Item 5. Other Information 47

Exhibits

Item 6. Exhibits 47

Signatures

Signatures 48 Table of Contents SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENT S This Quarterly Report on Form 10-Q, or Quarterly Report, contains "forward-looking statements" that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by the following words: "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements relate to future events or future financial performance or condition and involve known and unknown risks, uncertainties and other factors that could cause actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements about: our expectations regarding the sales and marketing of our products; our expectations regarding BAQSIMI , including with respect to our ability to increase our revenues and derive certain benefits as a result of our acquisition of BAQSIMI ; our ability to successfully acquire and integrate assets, including our ability to integrate BAQSIMI ; our expectations regarding our manufacturing and production and the integrity of our supply chain for our products, including the risks associated with our single source suppliers; our business and operations in general, including: adverse impacts of the Russia-Ukraine and Middle East conflicts and challenging macroeconomic conditions on our business, financial condition, operations, cash flows and liquidity; our ability to attract, hire, and retain highly skilled personnel; interruptions to our manufacturing and production as a result of natural catastrophic events or other causes beyond our con

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS AMPHASTAR PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) September 30, December 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 192,116 $ 144,296 Restricted cash 235 235 Short-term investments 58,375 112,510 Restricted short-term investments 2,200 2,200 Accounts receivable, net 139,635 114,943 Inventories 130,316 105,833 Income tax refunds and deposits 5,349 526 Prepaid expenses and other assets 17,723 9,057 Total current assets 545,949 489,600 Property, plant, and equipment, net 295,384 282,746 Finance lease right-of-use assets 426 564 Operating lease right-of-use assets 31,708 32,333 Investment in unconsolidated affiliate — 527 Goodwill and intangible assets, net 594,796 613,295 Long-term investments — 14,685 Other assets 23,663 25,910 Deferred tax assets 53,252 53,252 Total assets $ 1,545,178 $ 1,512,912 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 153,268 $ 93,366 Accrued payments for BAQSIMI (see Note 3) — 126,090 Income taxes payable 1,281 1,609 Current portion of long-term debt 252 436 Current portion of operating lease liabilities 4,209 3,906 Total current liabilities 159,010 225,407 Long-term reserve for income tax liabilities 6,066 6,066 Long-term debt, net of current portion and unamortized debt issuance costs 596,446 589,579 Long-term operating lease liabilities, net of current portion 28,941 29,721 Other long-term liabilities 27,037 22,718 Total liabilities 817,500 873,491 Commitments and contingencies Stockholders' equity: Preferred stock: par value $ 0.0001 ; 20,000,000 shares authorized; no shares issued and outstanding — — Common stock: par value $ 0.0001 ; 300,000,000 shares authorized; 60,690,076 and 48,372,997 sh

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