Pieris Pharma (PIRS) Misses Q1 EPS by 15c, Miss on Revenues

Pieris Pharma (NASDAQ: PIRS) reported Q1 EPS of ($0.17), $0.15 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $4.15 million versus the consensus estimate of $10.83 million.

"The first quarter of 2018 was an instrumental one for Pieris, both in advancing our clinical programs and in laying the groundwork for future company growth," said Stephen S. Yoder, President and CEO of Pieris. "We announced a collaboration with Seattle Genetics, strengthening our commitment to building a strong oncology portfolio and forging alliances with other companies on the cutting-edge of cancer research. We also completed an equity raise totaling $47.2 million in net proceeds, allowing for continued value creation through the expansion of our product pipeline and acceleration of IND filings within our immuno-oncology franchise. We are pleased to report that the pace of enrollment for the PRS-343, PRS-060 and PRS-080 trials is healthy, and we are looking forward to reporting data for all three programs in the second half of this year."

For earnings history and earnings-related data on Pieris Pharma (PIRS) click here.

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