Alpine Immune Sciences (ALPN) Misses Q3 EPS by 5c

Alpine Immune Sciences (NASDAQ: ALPN) reported Q3 EPS of ($0.28), $0.05 worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $1.9 million versus the consensus estimate of $16.08 million.

"Over the last quarter, we built upon the strong momentum created from our option and license agreement with AbbVie for worldwide rights to ALPN-101, by completing an additional private financing with top-tier biotech investors led by Omega Funds, among others," said Mitch Gold, executive chair and chief executive officer. "These transformative deals have provided us the capital to continue progressing our multiple product candidates through clinical trials."

As of September 30, 2020, Alpine had $141.3 million in cash, cash equivalents, restricted cash, and short-term investments. Alpine expects that its current cash resources, combined with the potential $75 million in pre-option exercise milestones payable under its option and license agreement with AbbVie, for the development and commercialization of ALPN-101, are sufficient to fund Alpine\'s planned operations into 2024, including a planned Phase 2 study of ALPN-101 in systemic lupus erythematosus and the further development of ALPN-202 and ALPN-303.

For earnings history and earnings-related data on Alpine Immune Sciences (ALPN) click here.

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