Loxo Oncology (LOXO) Reports Q2 Loss of $1.64, Revenues Beat

Loxo Oncology (NASDAQ: LOXO) reported Q2 EPS of ($1.64), versus ($0.54) reported last year. Revenue for the quarter came in at $42.6 million versus the consensus estimate of $28.91 million.

“We made significant progress across our pipeline in the second quarter,” said Josh Bilenker, M.D., chief executive officer of Loxo Oncology. “In May, our NDA for larotrectinib was accepted by FDA and granted Priority Review. In June, initial clinical data from the ongoing LIBRETTO-001 Phase 1/2 study of LOXO-292 were presented at ASCO. These data enabled a subsequent FDA meeting, which established a path forward for the program. And lastly, we completed important enabling studies and manufacturing activities for the LOXO-305 IND. In the second half of the year, we are focused on continuing to advance our pipeline, as well as aiding and advising our partners at Bayer in anticipation of a possible larotrectinib regulatory approval. Operationally, we aim to lay the groundwork for the long-term adoption of tumor genomic testing capable of detecting TRK fusions alongside other clinically actionable alterations.”

For earnings history and earnings-related data on Loxo Oncology (LOXO) click here.

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