Cyclacel Pharmaceuticals, Inc. (CYCC) Posts Q1 Loss of 25c/Share

Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC) reported Q1 EPS of ($0.25), $0.01 better than the analyst estimate of ($0.26).

"We are pleased to report that we have enrolled our first European patients in our Phase 3 SEAMLESS trial in AML and expect to open approximately 80 European sites, trebling the number of study centers," said Spiro Rombotis, President and Chief Executive Officer of Cyclacel. "Based on our enrollment forecasts of European sites joining US sites, we expect to complete SEAMLESS enrollment around the end of 2014 with data readout in the second half of 2015. We are now approaching the fourth periodic safety review by the study's DSMB. As indicated previously, SEAMLESS is funded to completion. Following Phase 2 data reported at ASH 2013, demonstrating a near doubling of expected median survival of older patients with MDS after treatment failure of hypomethylating agents, we are designing a randomized, controlled trial of sapacitabine in this underserved patient population, which was the objective of our April underwritten offering. We plan to disclose our approach to this study in Chicago during ASCO 2014."

For earnings history and earnings-related data on Cyclacel Pharmaceuticals, Inc. (CYCC) click here.

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