Amphastar Pharmaceuticals, Inc. reported net revenues of $191.2 million for the third quarter ended September 30, 2024. This represents a 5.9% increase compared to the prior-year period, demonstrating continued top-line expansion for the company.
The company achieved GAAP net income of $40.4 million, or $0.78 per diluted share, for the third quarter. Adjusted non-GAAP net income reached $49.6 million, or $0.96 per diluted share, reflecting the company's profitability during the period.
Dr. Jack Zhang, Amphastar's President and Chief Executive Officer, highlighted that sales from BAQSIMI and Primatene MIST were key contributors to the quarter's growth. Primatene MIST is trending towards its goal of $100 million in annual sales, indicating strong performance for the branded product portfolio.
The company's financial statements showed total current assets of $545.9 million and total assets of $1,545.1 million as of September 30, 2024. This financial update provides investors with a clear picture of the company's performance and balance sheet strength, supporting its strategic initiatives.
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