Veloxis Pharmaceuticals A/S (STO:VELO) announced on Monday that it is raising its outlook for 2019 and now expects revenues to be in the range of USD69m to USD77m and operating income before accounting for stock compensation in the range of USD10m to USD15m.

This compares with the prior 2019 outlook of USD58m to USD68m for revenues and operating income before accounting for stock compensation in the range of USD4m to USD10m.

Reportedly, this improvement in outlook is primarily driven by better than expected uptake of de novo use of Envarsus XR (tacrolimus extended-release tablets) following the launch of the new indication in January 2019.

Also, in addition to the better than expected de novo uptake, the US FDA announcement of a possible tacrolimus shortage beginning in July 2019, which is anticipated to last until March 2020, which may further impact sales of Envarsus.

Veloxis Pharmaceuticals is a commercial-stage specialty pharmaceutical company committed to improving the lives of transplant patients.