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What Are Tesaro’s Revenue Projections for Fiscal 2018?

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Dec. 11 2018, Updated 12:10 p.m. ET

Revenue projections for fiscal 2018

In its third-quarter earnings conference call, Tesaro (TSRO) narrowed its revenue guidance for fiscal 2018 from the previously projected range of $250 million to $265 million to $258 million to $265 million. According to the company’s third-quarter earnings conference call, Tesaro is expected to have cash and cash equivalents worth $400 million on its balance sheet at the end of fiscal 2018. As per the company’s third-quarter earnings conference call, the cash estimate also includes $18 million worth of milestone payments to be received from Johnson & Johnson (JNJ) subsidiary Janssen related to the development of Zejula in the prostate cancer indication in the fourth quarter.

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Wall Street analysts expect Tesaro to report revenues of $260.59 million in fiscal 2018, which would be a YoY rise of 16.68%. The company is also expected to report revenues of $350.72 million in fiscal 2019, which is a YoY rise of 34.59%. Wall Street analysts have also forecasted Tesaro’s fiscal 2020 revenues to be $515.04 million, which would be a YoY rise of 46.85%. Wall Street analysts have also projected Tesaro’s revenues to be close to $86.60 million in the fourth quarter, which would be a YoY rise of 80.33%.

Performance in 2018 YTD

In the third quarter, Tesaro reported revenues of $64.40 million, which is a YoY decline of 54.89%. As per the company’s third-quarter earnings conference call, this drop was mainly attributable to the upfront payment of $100 million received by the company related to its licensing agreement with Takeda Pharmaceuticals (TKPYY) in August 2017.

In the first nine months of 2018, Tesaro reported revenues of $171.35 million, which is a YoY decline of 2.25%. In the next article, we’ll discuss growth trends for Zejula in greater detail.

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