Alpine Immune Sciences (ALPN) Misses Q2 EPS by 6c

Alpine Immune Sciences (NASDAQ: ALPN) reported Q2 EPS of ($0.46), $0.06 worse than the analyst estimate of ($0.40). Revenue for the quarter came in at $7.2 million versus the consensus estimate of $6.48 million.

As of June 30, 2021, we had cash, cash equivalents, restricted cash, and investments totaling $100.4 million, which does not include the $45.0 million in achieved milestones from the AbbVie collaboration expected to be received in the third quarter. We recorded net losses of $11.0 million and $9.9 million for the quarters ended June 30, 2021 and 2020, respectively.

“We have had a highly productive second quarter with substantial progress made across our portfolio highlighted by the initiation of Synergy, our international Phase 2 trial of ALPN-101, or acazicolcept, in lupus patients, the achievement of $45 million in development milestones as part of our AbbVie agreement, and the first presentation of clinical data from ALPN-202 highlighting the potential differentiation of safely agonizing CD28. Alpine has evolved into a global development company with clinical programs in both Immunology and Oncology and two strong pharmaceutical partners in AbbVie and Merck,” said Mitchell H. Gold, M.D., Executive Chairman and Chief Executive Officer of Alpine. “Looking forward, we plan to initiate our Phase 1 study for ALPN-303 by the fourth quarter and look forward to providing other updates as we progress on all our clinical studies.”

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

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• LogicBio Therapeutics (LOGC) Misses Q2 EPS by 10c
• 4D Molecular Therapeutics, Inc. (FDMT) Misses Q2 EPS by 3c