Eleven Biotherapeutics (EBIO) Reports Q2 Loss of $0.30 on Revenues of $300K

Eleven Biotherapeutics (NASDAQ: EBIO) reported Q2 EPS of ($0.30). Revenue for the quarter came in at $300 thousand.

Second Quarter 2017 Financial Results:

• Cash Position: Cash and cash equivalents were $15.8 million as of June 30, 2017, compared to $25.3 million as of December 31, 2016.
• Revenue: Eleven did not record any revenue for the three months ended June 30, 2017, compared to revenue of $0.3 million for the same period in 2016. This decrease was due to the termination of Eleven’s collaboration agreement with Thrombogenics N.V. in June 2016.
• R&D Expenses: Research and development expenses were $2.9 million for the three months ended June 30, 2017, compared to $3.3 million for the same period in 2016. This decrease was primarily due to a reduction in EBI-031 development expenses. Effective August 2016, F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc. (Roche) is responsible for developing EBI-031 pursuant to Eleven’s license agreement with Roche. This decrease was partially offset by increases in Vicinium-related development expenses, which began in September 2016.
• G&A Expenses: General and administrative expenses were $2.2 million for the three months ended June 30, 2017, compared to $3.5 million for the same period in 2016. This decrease was primarily due to a reduction in professional fees.
• Net Loss: Net loss applicable to common stockholders was $7.3 million, or $0.30 per share, for the three months ended June 30, 2017, compared to net loss applicable to common stockholders of $6.5 million, or $0.33 per share, for the same period in 2016.
• Financial Guidance: Based on current operating plans, Eleven expects to have cash to fund research and development programs and operations into early 2018.

For earnings history and earnings-related data on Eleven Biotherapeutics (EBIO) click here.

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