Vitae Pharmaceuticals (VTAE) Tops Q2 EPS by 5c

Vitae Pharmaceuticals (NASDAQ: VTAE) reported Q2 EPS of ($0.36), $0.05 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $3.3 thousand versus the consensus estimate of $10 thousand.

As of June 30, 2016, Vitae had $77.4 million in cash, cash equivalents and marketable securities, compared with $59.4 million as of December 31, 2015.

Jeff Hatfield, President and Chief Executive Officer of Vitae, commented, “During the quarter, we made significant progress towards the completion of two key milestones for Vitae. First, we are on track to report top-line results for the ongoing Phase 2a proof-of-concept study for VTP-38543, our wholly owned, potential first-in-class LXRβ selective agonist being developed for atopic dermatitis, in the fourth quarter of 2016. Second, we continue to finalize plans for the next clinical trial, expected to initiate in the fourth quarter of 2016, of VTP-43742, our wholly owned, first-in-class RORyt inhibitor, in psoriasis patients. Previously, VTP-43742 demonstrated results that validated RORyt as a therapeutic target for psoriasis and VTP-43742 as a potentially paradigm-changing therapeutic.”

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

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