Aptinyx (APTX) Tops Q3 EPS by 5c, Revenues Miss

Aptinyx (NASDAQ: APTX) reported Q3 EPS of ($0.24), $0.05 better than the analyst estimate of ($0.29). Revenue for the quarter came in at $257 thousand versus the consensus estimate of $410 thousand.

“I am very pleased with the remarkable progress we have made over the past several months despite the negative impact of COVID-19, including our decisive response to the emergence of the pandemic, the positive progress and results across our clinical studies, and the completion of a financing that funds all of our pipeline programs,” said Norbert Riedel, Ph.D., president and chief executive officer of Aptinyx. “While it has been a trying year with unexpected hurdles, I am very proud of the persistence shown by our team to work through such challenges and stay focused on advancing these important novel therapies in development. We resumed our fibromyalgia study and are poised to restart our studies in painful DPN and cognitive impairment in the coming months. In addition, we recently reported positive results from our Phase 2 clinical study of NYX-783 in patients with post-traumatic stress disorder. The PTSD study represents the third Phase 2 study demonstrating the therapeutic potential of compounds from our platform and further validates our mechanism of NMDA receptor modulation in the treatment of disorders of the central nervous system. We continue to be well served by our strong cash balance, which was bolstered by our recent financing and which we expect will provide operational runway into 2023, enabling the achievement of multiple clinical and regulatory milestones across our pipeline.”

For earnings history and earnings-related data on Aptinyx (APTX) click here.

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