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Thursday, November 1, 2018

=Tesaro (TSRO) reported earnings on Thur 1 Nov 2018 (a/h)

Tesaro beats by $0.04, misses on revs; raises low-end of FY18 revs guidance
WALTHAM, Mass. (AP) _ Tesaro Inc. (TSRO) on Thursday reported a loss of $137.1 million in its third quarter.
The Waltham, Massachusetts-based company said it had a loss of $2.49 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $2.62 per share.
The biopharmaceutical company posted revenue of $64.4 million in the period, which missed Street forecasts. Nine analysts surveyed by Zacks expected $69.5 million.
Tesaro expects full-year revenue in the range of $258 million to $265 million.
Tesaro shares have declined 62 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $31.88, a decrease of 72 percent in the last 12 months.

  • Reports Q3 (Sep) loss of $2.49 per share, $0.04 better than the S&P Capital IQ Consensus of ($2.53); revenues fell 54.9% year/year to $64.4 mln vs the $71.84 mln S&P Capital IQ Consensus.
  • Co raises guidance for FY18, sees FY18 revs of $258-265 mln (Prior $250-265 mln) vs. $258.59 mln S&P Capital IQ Consensus.
  • "Following results of the Phase 3 PRIMA trial next year, we intend for ZEJULA to benefit patients throughout all stages of their ovarian cancer journey, including first-line, recurrent, and late-line treatment settings. Our immuno-oncology pipeline continues to advance, led by our anti-PD-1 antibody, TSR-042, for which we are on track to submit a BLA next year. We look forward to initial data from the Phase 1 AMBER trial of our anti-TIM-3 antibody, TSR-022, in combination with TSR-042, which will be presented at the Society for Immunotherapy of Cancer (SITC) Annual Meeting next week."
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