NEW YORK (TheStreet) -- Shares of BioDelivery Sciences International (BDSI) - Get Report are dropping 6.47% to $3.18 in after-hours trading on Thursday after the Raleigh, NC-based company posted its 2015 fourth quarter results.
After today's market close, the specialty pharmaceutical company posted earnings of 19 cents per diluted share, missing analysts' estimates of 55 cents per share.
Revenue for the period was $32.2 million, which fell short of Wall Street's expectations of $52.4 million.
Net revenue for the quarter was nearly all attributable to the $50 million belbuca-related FDA approval payment, of which $30 million was recognized as revenue immediately, the company noted. The remaining $20 million will be recognized as revenue over the patent extension period, the company added.
Belbuca is BioDelivery's treatment for severe pain.
"We are pleased with our accomplishments in 2015, including the continued growth of BUNAVAIL prescriptions, and the approval of BELBUCA, our third FDA approved product, and the recently announced commercial launch in the United States," President and CEO Mark A. Sirgo said in a statement.
Bunavail is the company's treatment for opioid dependence.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D- on the stock.
This is driven by several weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: BDSI