-- Company Reports Highest Gross Monthly Sales of 2019 and Total Gross Sales of $7.8 Million in the Fourth Quarter --
Torrance CA, February 5, 2020 - Emmaus Life Sciences, Inc. (OTCQB: EMMA), a leader in sickle cell disease (SCD) treatment, today reported preliminary gross sales of $7.8 million for the fourth quarter ended December 31, 2019 representing an 11.4% increase over gross sales of $7.0 million for the third quarter ended September 30, 2019 based on total boxes shipped. In December, the company achieved its highest level of monthly gross sales in 2019, reaching $3.0 million for the month.
The company will report its net revenue and other results of operations and financial condition as of and for the three months and year ended December 31, 2019 in its upcoming Annual Report on Form 10-K that it will file pursuant to its regulatory filing requirements. In accordance with ASC Topic 606 (Revenue from Contracts with Customers) and past filings, net revenue is gross sales less variable consideration such as various discounts, rebates and chargebacks.
“We are pleased with our preliminary gross sales results for the fourth quarter,” said Dr. Yutaka Niihara, M.D., M.P.H., Chairman and Chief Executive Officer of Emmaus. “Our fourth quarter results reflect the continuing commercialization progress we are making in the U.S. with our distributors as well as reaching new agreements with several GPOs. Furthermore, the fourth quarter also had contributions from international sales and partnerships as part of our overall strategy to broaden Endari’s expansion throughout the global SCD marketplace.”
About Emmaus Life Sciences
Emmaus Life Sciences, Inc. is a commercial-stage biopharmaceutical company engaged in the discovery, development, marketing and sale of innovative treatments and therapies, including those in the rare and orphan disease categories. For more information, please visit www.emmausmedical.com.
About Endari® (L-glutamine oral powder)
Indication - Endari is indicated to reduce the acute complications of sickle cell disease in adult and pediatric patients five years of age and older.
Important Safety Information
The most common adverse reactions (incidence >10 percent) in clinical studies were constipation, nausea, headache, abdominal pain, cough, pain in extremities, back pain, and chest pain.
Adverse reactions leading to treatment discontinuation included one case each of hypersplenism, abdominal pain, dyspepsia, burning sensation, and hot flash.
The safety and efficacy of Endari in pediatric patients with sickle cell disease younger than five years of age has not been established.
For more information, please see full Prescribing Information of Endari at: www.ENDARIrx.com/PI.
About Sickle Cell Disease
Sickle cell disease is an inherited blood disorder characterized by the production of an altered form of hemoglobin which polymerizes and becomes fibrous, causing red blood cells to become rigid and change form so that they appear sickle shaped instead of soft and rounded. Patients with sickle cell disease suffer from debilitating episodes of sickle cell crises, which occur when the rigid, adhesive and inflexible red blood cells occlude blood vessels. Sickle cell crises cause excruciating pain as a result of insufficient oxygen being delivered to tissue, referred to as tissue ischemia, and inflammation. These events may lead to organ damage, stroke, pulmonary complications, skin ulceration, infection and a variety of other adverse outcomes. Sickle cell disease is a significant unmet medical need, affecting approximately one hundred thousand patients in the U.S. and millions worldwide, the majority of which are of African descent. An estimated 1-in-365 African American children are born with sickle cell disease.
Forward-looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding preliminary gross sales for the fourth quarter ended December 31, 2019 and prospective net revenue and other results of operations and financial condition of the company. The company expects to report net losses for the fourth quarter and year ended December 31, 2019. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time, including uncertainties related to the company’s working capital and ability to carry on its existing operations and obtain needed financing and other factors previously disclosed in the company’s reports filed with the Securities and Exchange Commission, and actual results may differ materially. Such forward-looking statements speak only as of the date they are made, and the company assumes no duty to update them.
Company Contact: Investor Relations Contact:
Emmaus Life Sciences, Inc. LifeSci Advisors
Joseph (Jay) C. Sherwood III Bruce Mackle
Chief Financial Officer (929) 469-3859
(310) 214-0065, Ext. 3005 bmackle@lifesciadvisors.com
jsherwood@emmauslifesciences.com