Five Prime Therapeutics (FPRX) Tops Q2 EPS by 7c

Five Prime Therapeutics (NASDAQ: FPRX) reported Q2 EPS of ($0.49), $0.07 better than the analyst estimate of ($0.56). Revenue for the quarter came in at $9.92 million versus the consensus estimate of $6.38 million.

"We’re pleased with the progress we’ve made through the first half of the year and remain on track with our clinical programs,” said Lewis T. "Rusty" Williams, M.D., Ph.D., president and chief executive officer of Five Prime. "At ASCO in June, we announced early but encouraging Phase 1 data for our FGFR2b antibody, FPA144, including confirmed partial responses in three of nine patients with FGFR2b+ gastric tumors and one confirmed complete response in a patient with bladder cancer. Notably, FPA144 recently received FDA Orphan Drug Designation in patients with FGFR2b+ gastric cancer. Development of our anti-CSF1R antibody, FPA008, now named cabiralizumab, is also progressing according to plan. We still expect the Phase 1b dose expansion portion of the trial combining cabiralizumab with OPDIVO® (nivolumab) in multiple tumor types to begin during the second half of 2016. Also on track is our Phase 2 clinical trial of cabiralizumab in patients with pigmented villonodular synovitis (PVNS), a rare indication for which we received FDA Orphan Drug Designation.”

For earnings history and earnings-related data on Five Prime Therapeutics (FPRX) click here.

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