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A Look at Portola Pharmaceuticals’ Financial Performance

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Oct. 8 2018, Updated 4:05 p.m. ET

Revenue trends

Portola Pharmaceuticals’ (PTLA) net revenues grew from $3.79 million in the second quarter of 2017 to $4.01 million in the second quarter of 2018, which reflected ~6% year-over-year (or YoY) growth. Portola Pharmaceuticals’ net revenues grew from $8.92 million in the first half of 2018 to $10.66 million in the first half of 2017, reflecting ~20% YoY growth.

Wall Street analysts project that Portola Pharmaceuticals will report revenues of $7.10 in the third quarter of 2018. The revenue growth of Portola Pharmaceuticals could boost the SPDR S&P Biotech ETF (XBI). XBI invests ~1.09%, ~2.05%, and ~1.49% of its total portfolio holdings in Portola Pharmaceuticals, Acadia Pharmaceuticals, and Alexion Pharmaceuticals, respectively. Acadia Pharmaceuticals (ACAD) and Alexion Pharmaceuticals (ALXN), peers in the biopharmaceuticals market, reported revenues of $57.06 million and $1.05 billion, respectively, in the second quarter of 2018, which reflected ~87.3% and ~14.6% YoY growth.

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Expense trends

Portola Pharmaceuticals (PTLA) reported cost of sales, R&D, and SG&A (selling, general and administrative) expenses of $1.05 million, $66.4 million, and $40.2 million, respectively, in the second quarter of 2018. Wall Street analysts anticipate Portola Pharmaceuticals to report cost of sales, R&D, and SG&A expenses of $1.14 million, $62.65 million, and $45.31 million, respectively, in the third quarter of 2018.

Portola Pharmaceuticals’ net operating expenses totaled $107.7 million in the second quarter of this year. The company reported net operating expenses of $199.65 in the first half of this year.

Earnings trends

In the second quarter, Portola Pharmaceuticals (PTLA) reported net income and EPS (earnings per share) of -$106.2 million and -$1.61, respectively, compared to net income and EPS of -$69.65 million and -$1.22 in Q2 2017. Portola Pharmaceuticals reported net income and EPS of -$190.4 million and -$2.90, respectively, in the first half of 2018.

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