Why Horizon Therapeutics Stock Jumped Today
Shares of Horizon Therapeutics (NASDAQ: HZNP) were trading higher on Wednesday following the company's announcement of its fourth-quarter and full-year 2020 financial results. Horizon Therapeutics' stock closed the day's trading session up by 13.3%.
During its fourth-quarter that ended on Dec. 31, Horizon Therapeutics recorded net sales of $745.3 million, representing a 105% increase compared to the prior-year quarter. The company's net sales also came in higher than the $693.54 million analysts had predicted. Horizon Therapeutics' top-line growth was driven by the launch of Tepezza, the first treatment for thyroid eye disease (TED) approved by the U.S. Food and Drug Administration (FDA). The FDA granted Tepezza regulatory approval in January 2020. During Q4, Horizon Therapeutics reported net sales of $343.7 million from Tepezza.
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Source Fool.com
