Cignas earnings report, expected Friday morning, will have a big impact on the stock market as investors watch for a higher EPS and more detailed profit outlook.

The news comes as the Canadian-based drugmaker said it will report higher earnings for the second quarter as it struggles to stem losses from a string of major drug events in recent years.

The company posted earnings of $2.07 per share in the third quarter, up 11 per cent from a year earlier, and an average price-to-earnings ratio of 13.3 per cent.

Cignus chief executive officer Jeff Bock said Thursday that Cignab’s fourth-quarter profit is up 40 per cent year over year and that the company’s revenue has risen 22 per cent in the past year.

But analysts are not impressed.

“It is still a little too early to tell,” said analyst Chris Lynam of Cowen and Co. in a note.

The Canadian pharmaceuticals giant has been under pressure from the U.S. government to disclose how much it is spending to fight the spread of hepatitis C, which has killed hundreds of thousands of Americans and prompted other governments around the world to launch their own efforts. “

The EPS outlook is positive for Cignabs shares but a little low compared to the EPS expectations of the broader market.”

The Canadian pharmaceuticals giant has been under pressure from the U.S. government to disclose how much it is spending to fight the spread of hepatitis C, which has killed hundreds of thousands of Americans and prompted other governments around the world to launch their own efforts.

But a $10 billion cash infusion from Cignaws U.K. parent company GlaxoSmithKline has been used to pay for other initiatives and it is expected to reach $10.6 billion this year.

Cixa, which is not included in Cignias profit outlook, posted revenue of $9.7 billion for the quarter.

In the first half of the year, Cignos sales grew by 6.9 per cent compared with the same period last year.

Still, analysts said Cignaus numbers were not enough to sustain profitability.

“Cignab is still growing and it has to do so with a better product and a more targeted strategy that is going to take it beyond the initial cost-plus-incentive,” said Lynam.

“Even if Cignans earnings performance improves in the fourth quarter, its EPS could be disappointing for Cixas long-term growth.”

Investors have also been waiting for a more comprehensive accounting of Cignav’s sales in the U, where it has had a significant presence since 2013.

Last year, the U-S.

Justice Department sued Cignamas chief executive, Paul Buss, over the accounting issues.

That suit was settled in November 2016, but the Justice Department and Cignavis have been battling over the matter since.

Cinqas earnings fell $1.3 billion in the quarter, compared with $5.4 billion in Q4 2015.

But Buss said the company would continue to improve its accounting practices and will be “on the right track” in 2017.

In a separate report, Cinqs earnings fell 23 per cent to $3.05 per share, and its revenue fell 11 per per cent at $1,094 million.

But the company has reported solid profit margins in recent quarters, and Cinqueas revenue is expected grow by a similar amount.

The U. S. government is expected pay Cinca $4.9 billion in cash for the settlement and to give the company a “clean bill of health” for its troubles, according to a filing with the Securities and Exchange Commission.

The government has already approved a loan from the Canadian government to help Cinocas turnaround and said it could tap into another $1 billion from a fund created to cover costs from the hepatitis C pandemic.

Cínqas shares were trading 0.4 per cent lower on the Toronto Stock Exchange.