Intrexon (XON) Misses Q1 EPS by 8c, Revenues Miss

Intrexon (NASDAQ: XON) reported Q1 EPS of ($0.40), $0.08 worse than the analyst estimate of ($0.32). Revenue for the quarter came in at $23.3 million versus the consensus estimate of $32.12 million.

• Total revenues of $23.3 million;
• Net loss of $60.7 million attributable to Intrexon, or $(0.40) per basic share, including non-cash charges of $17.8 million;
• Adjusted EBITDA of $(39.2) million, or $(0.26) per basic share; and
• Cash, cash equivalents, and short-term investments totaled $181.6 million and the value of common equity securities totaled $1.8 million at March 31, 2019.

"Our realignment into Intrexon Health and Intrexon Bioengineering is well underway," commented Mr. Kirk. "On the healthcare side it is satisfying and exciting for all of us that we currently are dosing in clinical trials several novel therapeutic candidates of our design that incorporate our unique technology. Moreover, as we prepare to get underway with patient dosing of two Ultra-CAR-T candidates, we see the potential realization of a set of aspirations that we have held -- and declared -- since before our IPO and believe that these should constitute major advances in immuno-oncology. We await data with great anticipation."

Mr. Kirk concluded, "Our share price carries implications as well, so we are determined to prosecute all that we have set ourselves to accomplish in healthcare while realizing maximum value for our shareholders from our non-healthcare assets, the portfolio of Intrexon Bioengineering. These realizations may be participating or transactional in nature, but we are determined to achieve them and indeed are currently advancing several such prospects. Combined with the cost-cutting program that we have implemented, we expect our company will be a leaner, more-focused enterprise but not one lacking ambition or impact."

"Intrexon Bioengineering's highly skilled teams are contributing their breadth of expertise across diverse fields to advance programs in food, agriculture, environmental, and industrial fields. We believe these programs offer a unique opportunity to realize the potential of engineered solutions in generating more efficient and sustainable approaches than current industry practices. Intrexon Bioengineering is focused on delivering these technologies and products with the goal of increasing shareholder value," added Dr. Bostick.

For earnings history and earnings-related data on Intrexon (XON) click here.

You May Also Be Interested In

• CalPrivate Bank names Andra Frazier as chief credit officer
• XP Inc. (XP) Tops Q2 EPS by 8c
• Duos Technologies Group, Inc. (DUOT) Tops Q2 EPS by 163c