Vitae Pharmaceuticals (VTAE) Misses Q1 EPS by 12c

Vitae Pharmaceuticals (NASDAQ: VTAE) reported Q1 EPS of ($0.47), $0.12 worse than the analyst estimate of ($0.35). Revenue for the quarter came in at $150.24 thousand versus the consensus estimate of $90 thousand.

As of March 31, 2015, Vitae had $88.7 million in cash, cash equivalents and marketable securities, compared to $65.3 million as of December 31, 2014. The increase was primarily a result of the completion of the Company's follow-on public offering in the first quarter of 2015.

"During the first quarter, we continued to execute on our plans to deliver important near-term value drivers for shareholders that we hope will ultimately result in meaningful new treatments for patients suffering from a variety of serious diseases," commented Jeff Hatfield, President and Chief Executive Officer of Vitae. "We made solid progress in the development of our diabetes and autoimmune programs, remained committed to advancing our Alzheimer's program, and extended our expected cash runway through 2016. We look forward to a continued steady stream of activity during the remainder of 2015, including multiple data milestones we expect to achieve this year."

For earnings history and earnings-related data on Vitae Pharmaceuticals (VTAE) click here.

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