Veloxis Increases Outlook for 2019 Based on Continued Strong Performance

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Oct 30, 2019, 23:07 ET

COPENHAGEN, Denmark, Oct. 30, 2019 /PRNewswire/ -- Veloxis Pharmaceuticals A/S (OMX: VELO) announced today that it is raising its Outlook for 2019. The improvement is due to better than expected sales of Envarsus XR® (tacrolimus extended-release tablets).

Outlook 2019

Veloxis revises its 2019 Outlook of revenues to be in the range of USD 75 – 82 million and operating income before accounting for stock compensation in the range of USD 15 – 22 million. Veloxis previously reported 2019 Outlook to be USD 69 – 77 million for revenues and operating income before accounting for stock compensation in the range of USD 10 – 15 million.

As previously announced, Veloxis will release its Q3 Interim Report – for the period 1 January to 30 September 2019 on 12 November 2019.

About Veloxis Pharmaceuticals

Veloxis Pharmaceuticals A/S is a commercial-stage specialty pharmaceutical company committed to improving the lives of transplant patients. A Danish company, Veloxis Pharmaceuticals A/S operates in the U.S. through Veloxis Pharmaceuticals Inc., a wholly-owned subsidiary headquartered in Cary, North Carolina, USA. Veloxis has successfully developed Envarsus XR (tacrolimus extended-release tablets) based upon the company's unique and patented delivery technology, MeltDose®, which is designed to enhance the absorption and bioavailability of select orally administered drugs. The company is focused on the direct commercialization of Envarsus XR in the U.S., expansion of partnerships for markets around the world, and acquisition of assets utilized in transplant patients and by adjacent medical specialties. Veloxis is listed on the NASDAQ OMX Copenhagen under the trading symbol OMX: VELO. For further information, please visit www.veloxis.com.

SOURCE Veloxis Pharmaceuticals