Alvotech's stock experienced a significant pre-market plunge of 7.28% on Thursday. This sharp decline follows the company's release of its first-quarter 2026 financial results after the market close on Wednesday.
The biotechnology firm reported revenue of $105.9 million for Q1 2026, representing a 20.3% decrease compared to the same period last year and falling well short of analyst expectations of $140.85 million. Earnings per share came in at breakeven, missing the consensus estimate of 2 cents per share.
CEO Lisa Graver attributed the weaker performance to a production slowdown related to facility improvements, which impacted both revenues and EBITDA. The company maintained its full-year guidance, but investors reacted negatively to the quarterly miss, extending losses from the post-market session into pre-market trading.
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