Dicerna Pharma (DRNA) Misses Q3 EPS by 17c

Dicerna Pharma (NASDAQ: DRNA) reported Q3 EPS of ($0.45), $0.17 worse than the analyst estimate of ($0.28). Revenue for the quarter came in at $8.04 million versus the consensus estimate of $11.06 million.

“Dicerna has recently achieved two significant strategic objectives: dosing of patients in our PHYOX2 pivotal clinical trial and entering a collaboration agreement for the development of treatments for chronic hepatitis B virus infection with Roche, a global leader in the field,” said Douglas Fambrough, Ph.D., president and chief executive officer of Dicerna. “We continue to maintain full control of our lead rare disease programs for the treatment of all types of primary hyperoxaluria and for alpha-1 antitrypsin deficiency-associated liver disease. In parallel, our collaboration with Roche for HBV infection will generate near-term resources that will be used to grow our business, including our evolving commercial efforts. The Roche collaboration also offers us the option, after Phase 2 clinical proof-of-efficacy combination studies, to co-fund pivotal development and co-commercialize DCR-HBVS. This portfolio reflects our strategy to minimize our exposure to clinical risk while maximizing our commercial rights. Our three existing collaborations with Lilly, Alexion, and Boehringer Ingelheim have provided significant resources to advance this strategy while enabling the development of programs for larger disease populations that we would not have pursued on our own.

“Together, this portfolio of programs and collaborations is a testament to the power and versatility of our GalXC RNAi platform,” continued Dr. Fambrough. “Going forward, we believe there remains significant potential for additional programs and collaborative work with our liver-targeted GalXC technology, while we also continue to expand the reach of our GalXC technology to additional tissues.”

For earnings history and earnings-related data on Dicerna Pharma (DRNA) click here.

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