Dicerna Pharma (DRNA) Misses Q4 EPS by 7c, Revenues Miss

Dicerna Pharma (NASDAQ: DRNA) reported Q4 EPS of ($0.29), $0.07 worse than the analyst estimate of ($0.22). Revenue for the quarter came in at $1.54 million versus the consensus estimate of $7.78 million.

“2018 was a year of tremendous achievement for Dicerna. During the year, we met each of our key strategic objectives, as we obtained strong proof-of-concept (POC) data for our lead program, DCR-PHXC for primary hyperoxaluria (PH), for which we plan to initiate a pivotal trial in the near-term. In addition, we are continuing to advance our pipeline, which includes our investigational therapy, DCR-HBVS, for the treatment of people with chronic hepatitis B virus (HBV) infection and an additional candidate for an undisclosed rare disease,” said Douglas M. Fambrough, Ph.D., president and chief executive officer of Dicerna. “Further, we signed two major business development deals, executed a successful $115 million follow-on offering and solidified our intellectual property position.”

“Our active business development and financing activities have put us in a strong financial position ending 2018 with $302.6 million of cash, cash equivalents and held-to-maturity investments in addition to $94.5 million of net proceeds received in early 2019 from our collaboration agreements. Our strong cash position enables us to advance clinical trials for PH and chronic HBV infection, along with additional pipeline assets,” said Jack Green, chief financial officer of Dicerna. “We expect to be sufficiently funded beyond 2020 and are now well on our way to building a fully integrated company comprised of both proprietary and partnered programs.”

For earnings history and earnings-related data on Dicerna Pharma (DRNA) click here.

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