RESEARCH TRIANGLE PARK – Earnings season continues with numerous North Carolina public companies releasing quarterly financials. Here is the news from CommScope, PPD, Aerie, BioCryst, Lending Tree, Chimerix and G1 Therapeutics.

  • CommScope

CommScope reported a loss of $159.9 million in its first quarter.

The Hickory-based company said it had a loss of 89 cents per share. Earnings, adjusted for one-time gains and costs, came to 12 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The wireless and broadband network technology company posted revenue of $2.03 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.98 billion.

CommScope shares have declined 21% since the beginning of the year. The stock has fallen 53% in the last 12 months.

  • PPD

Wilmington-based PPD reported an 11% surge in revenue year-over-year to $1.07 billion and net income of $4.02 or a penney per share.

“While we were pleased with our strong commercial and financial results for Q1, our full attention is focused on navigating the challenges presented by the COVID-19 pandemic, most importantly, ensuring the health and safety of our employees, patients and customers,” said David Simmons, PPD’s chairman and CEO. “We are coordinating closely with customers to minimize study disruptions where possible and ensure continued access to drug supply for patients in ongoing studies. This pandemic highlights the crucial role the life sciences industry plays in our society and underscores the importance of PPD’s purpose and mission ‘to improve health by helping our customers deliver life-changing therapies.’ To that end, we are proud to be actively working on 39 studies related to COVID-19 treatments and vaccines.”

  • Aerie Pharmaceuticals 

Aerie Pharmaceuticals Inc. (AERI) reported a loss of $49.1 million in its first quarter.

The Durham-based company said it had a loss of $1.07 per share. Losses, adjusted for non-recurring costs, were 84 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 75 cents per share.

The drugmaker posted revenue of $20.3 million in the period, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $21 million.

Aerie shares have dropped 35% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.66, a fall of 61% in the last 12 months.

  • BioCryst

BioCryst Pharmaceuticals Inc. reported a loss of $37.6 million in its first quarter.

On a per-share basis, the Durham-based company said it had a loss of 24 cents.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.

The drugmaker posted revenue of $4.8 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.7 million.

The company’s shares closed at $3.95. A year ago, they were trading at $8.11.

  • Lending Tree

Tree.com Inc. (Lending Tree) reported first-quarter net income of $14.4 million, after reporting a loss in the same period a year earlier.

The Charlotte-based company said it had net income of $1.02 per share. Earnings, adjusted for one-time gains and costs, came to $1.20 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The mortgage lending service provider posted revenue of $283.1 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $282.5 million.

For the current quarter ending in July, Tree.com said it expects revenue in the range of $160 million to $175 million.

Tree.com shares have declined 19% since the beginning of the year. The stock has decreased 36% in the last 12 months.

  • Chimerix

Chimerix Inc.  reported a loss of $10.4 million in its first quarter.

The Durham, North Carolina-based company said it had a loss of 17 cents per share.

The biopharmaceutical company posted revenue of $1.2 million in the period.

The company’s shares closed at $2.52. A year ago, they were trading at $2.78.

  • G1 Therapeutics

G1 Therapeutics reported a net loss of $31.0 million for the first quarter of 2020, compared to $24.0 million for the first quarter of 2019.

“We have activated business continuity plans in response to the COVID-19 pandemic to ensure we can advance therapies that patients with cancer, their families, and healthcare providers are counting on to improve outcomes, and also taken actions to safeguard the well-being of our employees,” said Mark Velleca, its Chief Executive Officer. “We are on track to complete a New Drug Application filing for trilaciclib for patients with small cell lung cancer this quarter, and have initiated virtual medical education programs as we prepare for commercial launch in the U.S. We remain committed to evaluating the benefits of trilaciclib in other indications and expect to initiate the I SPY-2 breast cancer trial this quarter and a pivotal trial in colorectal cancer in the fourth quarter of 2020. Cancer patients experiencing chemotherapy-induced myelosuppression are an especially vulnerable population, and trilaciclib has the potential to be the first proactively administered myelopreservation therapy for these patients.”