Trovagene (TROV) Misses Q4 EPS by 2c

Trovagene (NASDAQ: TROV) reported Q4 EPS of ($0.34), $0.02 worse than the analyst estimate of ($0.32).

• Trovagene reported a net loss of $8.5 million, or $0.34 per diluted share, as compared to a net loss of $10.2 million for the third quarter of 2016, and a net loss of $7.4 million, or $0.26 per diluted share, for the fourth quarter of 2015.
• Total operating expenses were approximately $9.9 million in the fourth quarter, slightly down from $10.0 million in the third quarter of 2016, and an increase from $7.5 million in the fourth quarter of 2015.
• The net cash used in operating activities in the fourth quarter of 2016 was $9.0 million, compared to $7.0 million in the third quarter of 2016. The quarter-over-quarter increase can be attributed primarily to greater research and development costs associated with development of a multigene panel, a milestone payment to Boreal Genomics and certain non-recurring administration expenses.
• The weighted average of diluted shares of common stock outstanding used to calculate per share results was 30.7 million.
• As of December 31, 2016, Trovagene had cash, cash equivalents and short-term investments of approximately $37.9 million.

For earnings history and earnings-related data on Trovagene (TROV) click here.

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