uniQure Q2 net loss €19.3 million, €0.77 per share
Staff Writer |
uniQure announced its financial results for the second quarter ended June 30, 2016.
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The net loss was €19.3 million, or €0.77 per share, compared with €18.9 million, or €0.87 per share, for the second quarter of 2015.
As of June 30, 2016, uniQure held cash and cash equivalents of €165.6 million, compared with of €203.5 million as of December 31, 2015, a decrease of €37.9 million.
The decrease includes €36.4 million of cash used in operating, investing and financing activities during the six months ended June 30, 2016, in addition to a €1.5 million loss related to foreign currency effects on U.S. dollar-denominated deposits.
The company maintains its expectation that existing cash resources will be sufficient to fund operations into the second half of 2018.
Licensing and collaboration revenues were €3.9 million, compared with €1.6 million for the comparable period in 2015.
The increase relates to increased research activity associated with S100A1 for heart failure, which are fully reimbursed by BMS in accordance with uniQure’s collaboration agreement.
Research and development expenses were €17.3 million for the three months ended June 30, 2016, compared with €10.6 million for the comparable period in 2015.
The increase is mainly due to increased activity in support of company's collaboration agreement with BMS, validation and scale-up activities related to AMT-060 in uniQure’s Lexington facility, increased facility costs in Amsterdam and the continued progression of company's gene therapy product candidates targeting Sanfillipo B, Huntington’s disease and hemophilia A.
Selling, general and administrative expenses were €5.5 million for the three months ended June 30, 2016, compared with €4.5 million for the comparable period in 2015.
The change is primarily related to an increase in personnel expense, as well as an increase in expenses associated with the Glybera global registry and Phase IV study, which are currently classified as selling, general and administrative expenses, but were previously capitalized in the same period in 2015 prior to the commencement of Glybera commercialization.
The company had 25,137,009 ordinary shares outstanding as of June 30, 2016. ■