May 11, 2020 / 12:39 PM / 25 days ago

BRIEF-AMAG Pharma Reports First Quarter 2020 Financial Results

May 11 (Reuters) - AMAG Pharmaceuticals Inc:

* AMAG PHARMACEUTICALS ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE

* Q1 REVENUE $68.7 MILLION VERSUS REFINITIV IBES ESTIMATE OF $64.8 MILLION

* IMPLEMENTS WORKFORCE REDUCTION OF ABOUT 30% OR 140 POSITIONS, AS PART OF A PLANNED DECREASE IN OPERATING EXPENSES

* DECIDED TO WITHDRAW OUR 2020 FINANCIAL GUIDANCE

* AT THIS TIME, ALL OF COMPANY’S PRODUCTS REMAIN AVAILABLE AND SUPPLY CHAIN HAS NOT BEEN MATERIALLY AFFECTED BY COVID-19

* AMAG-423 PHASE 2B/3A CLINICAL TRIAL IS A HOSPITAL-BASED TRIAL AND ALL SITES HAVE PAUSED NEW PATIENT ENROLLMENT

* QTRLY LOSS PER SHARE $0.72

* Q1 EARNINGS PER SHARE VIEW $-0.03, REVENUE VIEW $64.8 MILLION — REFINITIV IBES DATA Source text for Eikon: Further company coverage:

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