Overview

* Emmaus Life Sciences ( EMMA ) Q3 revenue falls 38% yr/yr due to competition from generics and lower MENA sales

* Net loss of $2.1 mln compared to net income of $1.8 mln last year, primarily due to higher other expenses

* Operating expenses reduced by 43% due to cost-cutting measures

Outlook

* Company did not provide specific guidance for future quarters or full-year metrics

Result Drivers

* REVENUES - Decline attributed to competition from generic L-Glutamine in the U.S. and decrease in MENA region sales attributed to timing of sales

* OTHER EXPENSES - Company recorded other expense of $2.2 mln due to lower fair value of conversion feature derivative liabilities, increased interest expense and loss on debt extinguishment

* COST CUTTING - 43% reduction in operating expenses due to cost-cutting measures

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $3.38

Revenue mln

Q3 EPS -$0.03

Q3 Net -$2.08

Income mln

Q3 Gross $3.13

Profit mln

Q3 $695,000

Income

from

Operatio

ns

Q3 $2.44

Operatin mln

g

Expenses

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)