miRagen Therapeutics (MGEN) Tops Q2 EPS by 13c, Beats on Revenues

miRagen Therapeutics (NASDAQ: MGEN) reported Q2 EPS of ($0.34), $0.13 better than the analyst estimate of ($0.47). Revenue for the quarter came in at $718 thousand versus the consensus estimate of $500 thousand.

• Revenue decreased to $0.7 million during the second quarter of 2017, from $1.1 million during the same period in 2016. The $0.4 million decrease was due primarily to decreases in license fee and development related revenue under the Company’s collaboration agreement with Servier.
• Research and development expenses increased to $5.5 million during the second quarter of 2017, from $3.4 million during the same period in 2016. The $2.1 million increase was due primarily to a $1.3 million increase in outsourced manufacturing expenses, a $0.3 million increase in clinical trial expense, and a $0.8 million increase in personnel costs, including share based compensation. These increases were partially offset by a $0.3 million decrease in outsourced preclinical costs.
• General and administrative expenses increased to $2.6 million during the second quarter of 2017, from $1.2 million during the same period in 2016. The $1.4 million increase was due primarily to a $0.8 million increase in legal and other professional fees and expenses related primarily to increased costs associated with being a public company and increased personnel costs of $0.4 million, including share based compensation.

For earnings history and earnings-related data on miRagen Therapeutics (MGEN) click here.

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