Argos Therapeutics (ARGS) Tops Q4 EPS by 4c

Argos Therapeutics (NASDAQ: ARGS) reported Q4 EPS of ($0.84), $0.04 better than the analyst estimate of ($0.88). Revenue for the quarter came in at $73.8 thousand versus the consensus estimate of $720 thousand.

"In the past year we have achieved a number of important milestones, both from a clinical and a corporate perspective,” said Jeff Abbey, president and chief executive officer. “In July, we successfully completed enrollment of our Phase 3 ADAPT trial of AGS-003 in metastatic renal cell carcinoma. The ADAPT trial also successfully navigated two data analyses, in June and December, by the Independent Data Monitoring Committee (IDMC). The next review of data by the IDMC is scheduled to take place in June of 2016. We expect a subsequent IDMC meeting and review of data to occur in late 2016 and anticipate having a sufficient number of events from the ADAPT trial to permit the primary analysis and assessment of overall survival to occur in the first half of 2017.”

“We also successfully formed our Scientific Advisory Board in 2015. These highly-regarded individuals are a significant resource as we continue to advance our clinical development programs,” said Mr. Abbey. “Additionally, we also saw the initiation of an early stage investigator-sponsored RCC trial of AGS-003 at Roswell Park Cancer Institute in Buffalo, NY. With this study, for the first time we will assess the effects of AGS-003 in patients with kidney cancer that has not spread to nearby lymph nodes or other parts of the body. As we have emphasized, this is an important opportunity to manufacture AGS-003 using a needle biopsy procedure for tumor collection prior to surgery, while directly studying immune changes within the primary tumor before and after administration of AGS-003.”

Mr. Abbey continued, “With the accomplishments of 2015 and those we have already announced in 2016, including the hiring of Dr. Lee Allen as our chief medical officer, the initiation of an investigator-sponsored trial of AGS-003 in non-small cell lung cancer, and our recently announced financing of up to $60 million, which, if it is funded in full, should fund our operations into the second quarter of 2017 when we anticipate final data of the ADAPT trial, we believe we have taken many of the necessary steps to be successful.”

For earnings history and earnings-related data on Argos Therapeutics (ARGS) click here.

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