Vital Therapies (VTL) Misses Q1 EPS by 2c

Vital Therapies (NASDAQ: VTL) reported Q1 EPS of ($0.39), $0.02 worse than the analyst estimate of ($0.37).

Key Recent Developments

• Sixty-seven subjects have been enrolled as of May 8 at sites in the United States and Europe in VTL-308, the Company’s phase 3 randomized, controlled, open-label trial, designed to evaluate the ELAD System in subjects with severe alcoholic hepatitis (sAH). There are now 46 sites open for enrollment in VTL-308. The Company expects to report topline data around mid-2018.
• Strengthened the financial condition of the Company through an underwritten public offering in March. The Company sold 10.1 million shares at $4.00 per share in the offering, which closed in March 2017 resulting in proceeds of $37.8 million after underwriting discounts and commissions. The Company believes its current cash position could provide funding through the first quarter of 2019, well past the expected announcement of VTL-308 top-line trial results.

First Quarter 2017 Financial Results

Cash Position

Cash and cash equivalents at March 31, 2017, totaled $86.6 million compared to $60.0 million at December 31, 2016.

For earnings history and earnings-related data on Vital Therapies (VTL) click here.

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