Eleven Biotherapeutics (EBIO) Posts Smaller Q1 Loss

Before the open, Eleven Biotherapeutics (NASDAQ: EBIO) reported Q1 EPS of ($0.36), $0.11 better than the analyst estimate of ($0.47). Revenue for the quarter came in at $200 thousand versus the consensus estimate of $200 thousand.

Cash and cash equivalents were $45.5 million as of March 31, 2015. "We believe that our cash and cash equivalents as of March 31, 2015 will enable us to fund our operating expenses, debt service obligations and capital expenditure requirements into 2016," the company said.

"Recently, we’ve presented and published a comprehensive body of clinical data related to Eleven’s ocular therapeutics pipeline in peer-reviewed journals and at ocular disease meetings,” said Abbie Celniker, Ph.D., President and Chief Executive Officer of Eleven Biotherapeutics. “These data further define the patient population and proposed Phase 3 trial design for EBI-005 in the treatment of allergic conjunctivitis and describe how data from the completed phase 1b/2a study of EBI-005 in patients with dry eye disease influenced the design of the pivotal Phase 3 study. We remain on-track with our pivotal Phase 3 clinical study of EBI-005 in dry eye disease. Patient enrollment in this study completed in the fourth quarter of 2014 and communication of top line data is expected this quarter sometime after ARVO 2015.”

For earnings history and earnings-related data on Eleven Biotherapeutics (EBIO) click here.

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