Acceleron Pharma (XLRN) Tops Q1 EPS by 4c, Revenues Miss

Acceleron Pharma (NASDAQ: XLRN) reported Q1 EPS of ($0.77), $0.04 better than the analyst estimate of ($0.81). Revenue for the quarter came in at $24.76 million versus the consensus estimate of $28.89 million.

“Acceleron made significant operational progress during the first quarter,” said Habib Dable, President and Chief Executive Officer of Acceleron. “With the STELLAR Phase 3 trial already enrolling patients, we expect to initiate multiple mid- and late-stage clinical trials across our pipeline in pulmonary disease throughout 2021. We were thrilled to have data from the PULSAR Phase 2 trial of sotatercept in PAH recently featured in the New England Journal of Medicine. These data along with the results from our ongoing and planned Phase 3 trials will support our vision of establishing sotatercept as a backbone therapy for patients with all stages of PAH. We are looking forward to hosting a research and development day in late June to primarily discuss Acceleron's plans and vision in rare pulmonary diseases with sotatercept in pulmonary hypertension and ACE-1334 in systemic sclerosis-associated interstitial lung disease, or SSc-ILD.”

Added Mr. Dable: “In our hematology program, Acceleron and our partner, Bristol-Myers Squibb Company (Bristol Myers Squibb), are leveraging the key learnings from the early success of the commercial launch of REBLOZYL in the United States. We continue to transition from the initial bolus patient group earlier in the launch to underlying new patient demand. Bristol Myers Squibb expects launches in multiple additional countries across the globe this year as REBLOZYL receives reimbursement. Most importantly, assuming success in current and future potential indications associated with anemia, we continue to estimate that peak annual sales of REBLOZYL will surpass $4 billion.”

For earnings history and earnings-related data on Acceleron Pharma (XLRN) click here.

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