On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. In short, this company is a mess right now and doesn’t have the financial flexibility it desperately needs. A few days later, reports surfaced that the company was weighing filing for bankruptcy as it worked on a settlement for the opioid cases. Then, shares cratered over the next two days after Endo missed an interest payment. The company’s Par Pharmaceutical unit markets birth control pills, for what it’s worth. Trading volume hit 470 million in that single session alone, as investors speculated about the positive benefit to Endo.
Wade, and traders flooded into Endo International shares. That move came after the Supreme Court overturned Roe v. On June 28, shares erupted 114% at one point and closed higher by 85%. These conversations will most likely end with a Chapter 11 filing.įor its part, ENDP stock has been all over the map for the past few months.
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While Endo denies these allegations, bankruptcy conversations are in full effect between the company and senior lenders. The company allegedly helped fuel the opioid crisis and is now facing thousands of lawsuits as a result.
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Bankruptcy Code by Endo International plc and substantially all of its subsidiaries, which could occur imminently.”
“In light of the progress to date, the Company expects that these negotiations will likely result in a pre-arranged filing under Chapter 11 of the U.S. However, revenue still sank about 20% year-over-year, while Endo ended the quarter with $1.2 billion in unrestricted cash and $8.1 billion of debt. A loss of 3 cents per share beat expectations by 11 cents, while revenue of about $569 million blew past estimates by $44.5 million. On the surface, Endo International seems to have reported a solid second-quarter. More specifically, management’s warning that a bankruptcy filing could be imminent is spooking investors. What’s triggering the recent selling pressure? Technically, it was the company’s earnings report. That won’t happen unless ENDP stock falls even further from Tuesday’s current low of 36 cents. Surprisingly, though, shares are not making new 2022 lows. Shares of ENDP stock are down more than 40% today and almost 60% from last week’s high. Two Affiliate Companies Joined Endo International plc BankruptcyĮarnings Flash (ENDPQ) ENDO INTERNATIONAL Reports Q1 Adjusted EPS $0.82Įarnings Flash (ENDPQ) ENDO INTERNATIONAL Reports Q1 Revenue $515.3MĮarnings Flash (ENDPQ) ENDO INTERNATIONAL Posts Q1 Revenue $515MĮarnings Flash (ENDPQ) ENDO INTERNATIONAL Reports Q1 EPS $0.It hasn’t been a good run for Endo International (NASDAQ: ENDP), and Tuesday isn’t making it any better. Premier Forms Pitocin Supply Partnership With Endo InternationalĮndo International plc Launches First Generic Version of Noxafil® (posaconazole) InjectionĮndo International plc Announces Approval of XCOPRI (Cenobam Tablets) in CanadaĮndo International plc Announces First Patient Enrolled in Registry of Dupuytren's ContractureĮndo International plc Launches Dexlansoprazole Capsules, Generic Version of DexilantĮndo International plc Launches PREVDUO (Neostigmine Mylsulfate and Glycopyrrolate Injection), the First and Only FDA-Approved Neostigmine-Glycopyrrolate Combination Pre-Filled Syringe Endo International, struggling with debt from opioid litigation settlements, has filed for Chapter 11 bankruptcy protection with a deal in place to be acquired by its creditors. Bankrupt Endo says US government objections imperil $600 million in opioid settlements
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