Here's Why Portola Pharmaceuticals Fell as Much as 45.4% Today
Shares of Portola Pharmaceuticals (NASDAQ: PTLA) lost over 45% today after the company reported preliminary full-year 2019 operating results. Investors were less than impressed by the company's estimate for Andexxa revenue.
Portola Pharmaceuticals estimates that the drug product achieved global sales of $111 million for the year and only $28 million in the fourth quarter. The average analyst estimate called for $131.6 million and $43.9 million, respectively, according to numbers compiled by Yahoo! Finance.
As of 11:28 a.m. EST, the pharma stock had settled to a 42.7% loss.
Source Fool.com
