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Akers Biosciences (AKER) Q1 Earnings: What's in Store?

Zacks Equity Research
Updated

Akers Biosciences Inc AKER is expected to report first-quarter 2016 results on May 12. The company posted disappointing 2015 results, wherein its loss of $1.81 per share was much wider than the year-ago loss of 66 cents, largely due to a decline in revenues.

Sales of Particle ImmunoFiltration Assay (PIFA Heparin/PF4), the company’s flagship rapid test, plunged 38% to $1.4 million. Revenues tanked 52.2% to $2.1 million in the quarter.

Factors at Play

Akers expects to keep incurring losses in the near term owing to escalating operating expenses related to both product development and clinical and regulatory activities. However, the company’s efforts to drive sales of PIFA Heparin/PF4 in the U.S. and overseas through new distribution partnerships are encouraging.

Meanwhile, Akers is rapidly expanding in China, its most growth-focused market after the U.S. Earlier in March, Akers’ Chinese distributor, NovoTek Therapeutics, received an order to supply the PIFA Heparin PF4/Rapid Assay products to China. The order was valued at approximately $2.5 million and will be completed in portions throughout 2016.

We believe that the company’s first-quarter results will benefit from this order win. Moreover, the four breath tests focused on diabetes, weight loss, fitness and alcohol are expected to gain traction in China, which will also drive overall growth.

Other Expected Releases

Apart from Akers, there are other players from the same space that are yet to come up with their earnings releases. Among these, STAAR Surgical STAA, Capricor Therapeutics CAPR and Vascular Biogenics VBLT are slated to report on May 11, 12 and 13, respectively.

STAAR Surgical and Vascular Biogenics carry a Zacks Rank #3 (Hold), while Capricor holds a Zacks Rank #2 (Buy).
 

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CAPRICOR THERAP (CAPR): Free Stock Analysis Report
 
STAAR SURGICAL (STAA): Free Stock Analysis Report
 
VASCULAR BIOGNC (VBLT): Free Stock Analysis Report
 
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