Fri, Feb 28, 12:06 PM (58 days ago)
**ANI Pharmaceuticals, Inc. (ANIP) 2024 Annual Report Summary** For the fiscal year ended December 31, 2024, ANI Pharmaceuticals reported a net revenue of $614.4 million, a 26.2% increase from $486.8 million in 2023. This growth was driven by significant contributions from the Rare Disease and Brands segment, particularly Cortrophin Gel, which saw revenues of $198.1 million, up 76.7% year-over-year. The company completed the acquisition of Alimera Sciences in September 2024, enhancing its product portfolio with ILUVIEN and YUTIQ. Operating expenses rose to $363.6 million, primarily due to increased selling, general, and administrative costs related to the Alimera acquisition and higher R&D expenditures. The company incurred a net loss of $18.5 million compared to a profit of $18.8 million in 2023, influenced by high interest expenses and a $7.5 million loss on extinguishment of debt. Strategically, ANI aims to expand its Rare Disease segment through organic growth and acquisitions, while navigating risks associated with regulatory compliance and market competition. The financial outlook remains cautious due to potential volatility in revenue streams and increased operational costs from ongoing investments. The company maintains a robust liquidity position with $144.9 million in cash and a working capital ratio of 2.7.