By Sam Boughedda
Investing.com -- ANI Pharmaceuticals Inc (NASDAQ:ANIP) shares fell 25% on Tuesday after reporting its fourth-quarter and full-year earnings that saw earnings per share fail to beat analyst estimates.
The Baudette, Minnesota-based company announced earnings per share of 54 cents on revenue of $60.93 million. Analysts polled by Investing.com anticipated EPS of 75 cents on revenue of $56.3 million.
The company also reported full-year 2021 revenues of $216.1 million.
“The past few months have been an exciting time for ANI as we completed the build out of our Rare Disease business team. Our senior leadership has experience across over 20 Rare Disease launches and 75% of our high-performing sales colleagues have won President’s Club or equivalent in the past few years," said Nikhil Lalwani, president and CEO of ANI.
"The strengthening of our balance sheet through our debt refinancing and recent $75 million equity raise, position us well to deliver long-term sustainable growth,” concluded Lalwani.