Laval, Canada-based Valeant Pharmaceuticals is entering a free fall, Business Insider reports.
Here's what you need to know.
1. The company reported a smaller-than-expected quarterly profit from its dermatology and irritable bowel syndrome products, while cutting its full-year profit and revenue forecasts.
2. Since 2015's peak of $257 per share, Valeant stock has tumbled more than 90 percent. It closed on Nov. 8, 2016 at $15.30 per share.
3. Valeant expects a total revenue of $9.55 billion to $9.65 billion for the year. The company projected $9.9 billion to $10.1 billion in total revenue.
4. Earnings were between $5.30 to $5.50 per share for the quarter. Projections expected quarterly earnings between $6.60 to $7 per share.
5. The company lost $1.22 billion or $3.49 per share in the third quarter. Last year the company posted a profit of $49.5 million or $0.14 a share.
6. The company's revenue fell 11 percent to $2.48 billion which is under the $2.49 billion projection.