What is going on with FLXN?
Flexion Therapeutics (FLXN) stock rose today after the company announced financial results from the first quarter of 2021, most of which were in line with projections. Shares of FLXN were up 0.96% to $9.49 a share Wednesday.
What does this mean for Flexion?
Flexion Therapeutics' (FLXN) main product is ZILRETTA, an intra-articular therapy for patients suffering from osteoarthritis-related knee pain. Net sales of ZILRETTA for the first quarter were approximately $24.6 million, with net sales for the full year expected to fall between $120 and $130 million. Flexion anticipates full year operating expenses to be around $200 million. The company also stated that 4,417 accounts had purchased ZILRETTA, an increase of 169 new accounts since December of 2020.
Michael Clayman, M.D., President and CEO of Flexion, stated, "Overall, we were pleased with our commercial performance in the first quarter. ZILRETTA net sales were broadly in line with our expectations, in spite of facing some unexpected delays in intra-articular procedures associated with the rollout of the COVID-19 vaccines and the extended power outages that affected Texas and other key markets in February."
Flexion’s management will host a conference call today at 4:30 p.m. ET to discuss the first quarter results in greater detail.
FLXN has a Fundamental Rank of 96. Find out what this means to you and get the rest of the rankings on FLXN!
Flexion Therapeutics Inc is a United States-based specialty pharmaceutical company. The company focuses on the development and commercialization of novel, local therapies. The company specializes in the treatment of patients with musculoskeletal conditions beginning with osteoarthritis. The products offered by company are zilretta which is used for enhancing the clinical effect of intra-articular corticosteroid treatment.
