Jounce Therapeutics (JNCE) Tops Q2 EPS by 4c

Jounce Therapeutics (NASDAQ: JNCE) reported Q2 EPS of ($0.11), $0.04 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $20.29 million versus the consensus estimate of $19.94 million.

Jounce reiterates the financial guidance previously provided for the full year 2017. Based on its current operating plan, Jounce expects to use approximately $100.0 to $120.0 million in cash for the full year 2017, including the projected expense of operating activities, build out and capital costs associated with the relocation of its lab and office space within Cambridge, Mass. and payment of federal and state income taxes related to the receipt of the Celgene upfront payment of $225.0 million in 2016.

Jounce expects collaboration revenue for the full year 2017 of approximately $80.0 million, representing the amortization of the Celgene upfront payment of $225.0 million received in 2016

For earnings history and earnings-related data on Jounce Therapeutics (JNCE) click here.

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