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Why Antares Pharma Is Crashing 12.3% Today

TheMotleyFool

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Why Antares Pharma Is Crashing 12.3% TodayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

After the company reported mixed first-quarter financial results that were better than expected on the top line and worse than expected on the bottom line, shares in Antares Pharma (NASDAQ: ATRS) had tumbled 12.3% at 12 p.m. EST on Tuesday.

The healthcare company delivered robust revenue growth in Q1 because of Xyosted, a long-lasting testosterone drug, and Teva Pharmaceutical Industries' (NYSE: TEVA) generic version of Mylan's EpiPen, which uses Antares technology. Sales were $33.1 million, eclipsing industry watchers' estimates by $2.56 million and up 42.1% from the same quarter last year.

Image source: Getty Images.

Source Fool.com

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