|Summary of Results||Q3-16||% Increase / (Decrease)over Q3-15|
|Net Income GAAP||$8.1M||12||%|
|EPS GAAP - diluted||$||0.19||19||%|
|Adjusted Net Income||$12.4M||58||%|
|Adjusted EPS - diluted||$||0.28||68||%|
- Recently completed a settlement and license agreement with Dr. Reddy's Laboratories, Ltd. and certain of its affiliates (Dr. Reddy's) that resolves patent litigation in the United States related to Sucampo's AMITIZA (lubiprostone) 8 mcg and 24 mcg soft gelatin capsules. The agreement provides for an entry date more than six years from today's date and profit sharing on product sales by Dr. Reddy's.
- A phase 3 trial of AMITIZA in pediatric functional constipation in children six to seventeen years of age did not achieve its primary endpoint of overall spontaneous bowel movement (SBM) response. However, the trial did show a trend in favor of lubiprostone for the primary endpoint, and achieved statistical significance in some secondary endpoints, notably overall SBM frequency, straining, and stool consistency. Clinical development of AMITIZA with a sprinkle formulation and phase three trials in adults and children six months to less than six years of age using the sprinkle formulation will continue as planned.
- Increased adjusted 2016 guidance as follows: revenue guidance to $220-225 million, adjusted net income guidance to $50-55 million, adjusted EPS guidance to $1.20-1.25, and adjusted EBITDA guidance to $110-115 million.