TDOC Q1 Results Lag Estimates, STRM Q4 Revenue Soars 100%, RGEN Trims Revenue Outlook

(RTTNews) - The following are some of the companies belonging to the healthcare sector that reported quarterly financial results on Wednesday.

1. Viking Therapeutics Inc. (VKTX), a clinical-stage biopharmaceutical company developing novel therapies for metabolic and endocrine disorders, expects enrollment in its VOYAGE study to be completed in the second half of 2022.

VOYAGE is a phase 2b study of lead drug candidate VK2809 in biopsy-confirmed non-alcoholic steatohepatitis.

In a 12-week phase 2a trial of VK2809 in patients with hypercholesterolemia and non-alcoholic fatty liver disease, the results of which were reported earlier, both the primary and secondary endpoints were met, with VK2809 demonstrating potent reductions in liver fat content and plasma lipids.

A phase I trial of dual GLP-1/GIP agonist VK2735 for the potential treatment of a range of metabolic disorders is ongoing. Results from this study are expected to be available in the second half of the year.

The company's cash, cash equivalents and short-term investments totaled $185 million at the end of the first quarter.

VKTX closed Wednesday's trading at $2.20, down 3.93%.

2. Shares of Teladoc Health Inc. (TDOC) slumped in after-hours Wednesday, as the company's first-quarter loss and revenue missed analysts' estimates. The company has also provided a lackluster outlook for Q2 and full-year 2022.

Net loss for the first quarter of 2022 was $6,674.5 million or $41.58 per share on revenue of $565.4 million. Wall Street analysts were expecting the company to report a loss of $0.56 per share and revenue of $568.8 million. The company had incurred a loss of $199.6 million or $1.31 per share on revenue of $453.6 million in the first quarter of 2021.

For the second quarter of 2022, the company expects to report a loss per share in the range of $0.72 to $$0.60 and revenue in the range of $580 million to $600 million. The consensus analysts' estimate is a loss per share of $0.47 and revenue of $615.26 million.

Looking ahead to full-year 2022, the company expects to incur a loss per share of $43.50 to $43.00 on revenue of $2.4 billion to $2.5 billion. Wall Street analysts are expecting a loss of $1.53 per share and revenue of $2.58 billion.

TDOC closed Wednesday's trading at $55.99, down 3.08%. In after-hours, the stock plunged 36.83% to $35.37.

3. Streamline Health Solutions Inc. (STRM) has reported a sharply narrowed loss for the fourth quarter, which ended January 31, 2022, on revenue growth of 100%.

The company is a provider of solutions that enable healthcare providers to proactively address revenue leakage and improve financial performance.

Net loss for the fourth quarter of fiscal 2021 shrunk to $30,000 on revenue of $6.0 million. This compared with a net loss of $1.2 million and revenue of $3.0 million in the fourth quarter of fiscal 2020.

STRM closed Wednesday's trading at $1.40, up 3.70%.

4. Repligen Corp. (RGEN) has reported a 39% increase in non-GAAP net income on revenue growth of 45% for its first quarter ended March 31, 2022. The company has also trimmed its revenue outlook for full-year 2022 by 4%.

On a non-GAP basis, net income for the first quarter of 2022 rose to $53.7 million or $0.92 per share from $38.8 million or $0.68 per share in the year-ago period. Total revenue for the first quarter of 2022 jumped to $206.4 million from $142.8 million in the year-earlier quarter.

Wall Street analysts were expecting the company to earn $0.72 per share on revenue of $185.48 million for the first quarter of 2022.

Looking ahead to full-year 2022, the company now expects total revenue to be in the range of $770-$800 million, down from its prior guidance of $800-$830 million. Analysts, on average, expect the company to report revenue of $819.47 million for the year.

RGEN closed Wednesday's trading at $157.51, up 10.49%.

5. QIAGEN N.V. (QGEN), which delivered promising Q1 financial results on Wednesday, has increased the outlook for full-year 2022.

The company now expects full-year 2022 net sales of at least $2.12 billion and adjusted EPS of at least $2.14, well above the consensus analysts' estimate of $1.92 billion in revenue and EPS of $1.9 per share. The revised revenue outlook implies a decline of nearly 6% over the prior year.

Previously, the company was expecting 2022 net sales of at least $2.07 billion and adjusted EPS of at least $2.05. The full-year 2021 net sales were $2.25 billion and adjusted EPS was $2.63.

QGEN closed Wednesday's trading at $45.30, up 0.87%.

6. NuCana plc (NCNA), a clinical-stage biopharmaceutical company, has a number of clinical trial events lined up for this year.

The following trials are expected to be initiated this year.

-- A phase II trial of NUC-3373 in combination with other agents for the second-line treatment of patients with colorectal cancer, dubbed NuTide:323. -- A phase Ib/II modular study of NUC-3373 in combination with other agents in patients with solid tumors, dubbed NuTide: 303.

The following data readouts are slated for this year.

-- Data from the phase 1b/2 study of NUC-3373 combined with leucovorin, irinotecan and bevacizumab in patients with colorectal cancer, dubbed NuTide:302. -- Data from the NuTide: 303 study. -- Data from the phase I part of the NuTide:701 study of NUC-7738 in patients with solid tumors; and -- Data from the phase II part of the NuTide:701 study of NUC-7738 in patients with solid tumors.

NCNA closed Wednesday's trading at $0.73, up 2.95%.

7. Merit Medical Systems Inc. (MMSI), which delivered better-than-expected revenue results for the first quarter of 2022, expects full-year 2022 revenue to grow 4% to 6%.

For full-year 2022, the company expects non-GAAP net income in the range of $140.0 million to $148.7 million, or $2.41 to $2.56 per share, on net revenue in the range of $1.117 billion to $1.140 billion.

This compares with a non-GAAP net income of $136.2 million or $2.37 per share and net revenue of $1.075 billion in full-year 2021.

Wall Street analysts, on average, are expecting the company to earn $2.48 per share on revenue of $1.13 billion for 2022.

MMSI closed Wednesday's trading at $65.10, down 1.32%.

8. Hologic Inc. (HOLX), which announced strong financial results for the fiscal second quarter ended March 26, 2022, has raised its full-year 2022 revenue and EPS guidance again.

For fiscal 2022, the company now expects revenue to be in the range of $4.60 to $4.70 billion, up from its prior forecast of $4.40 billion to $4.55 billion. Non-GAAP EPS for the year is now expected to range between $5.45 and $5.65, up from its earlier guidance of $4.90 to $5.20 per share.

This is for the second time that the company has boosted its fiscal 2022 outlook.

Wall Street analysts are looking for earnings of $5.15 per share and revenue of $4.53 billion for fiscal year 2022.

The company had reported non-GAAP EPS of $8.41 and revenue of $5.63 billion in fiscal year ended Sep.25, 2021.

HOLX closed Wednesday's trading at $70.84, up 0.43%.

9. Entasis Therapeutics Holdings Inc. (ETTX), an advanced late-stage clinical biopharmaceutical company, expects to submit its New Drug Application for SUL-DUR to the FDA in mid-2022.

SUL-DUR is being developed for patients with multidrug-resistant Gram-negative infections caused by carbapenem-resistant Acinetobacter baumannii (CRAB).

As of March 31, 2022, the company had cash and cash equivalents of $33.5 million, which is expected to be sufficient to fund operations through the third quarter of 2022.

ETTX closed Wednesday's trading at $1.86, down 1.59%.