Global Blood Therapeutics (GBT) Misses Q4 EPS by 35c

Global Blood Therapeutics (NASDAQ: GBT) reported Q4 EPS of ($1.59), $0.35 worse than the analyst estimate of ($1.24). Revenue for the quarter came in at $0 versus the consensus estimate of $560 thousand.

“2019 was a momentous year for both the sickle cell community and GBT as we saw the FDA approval of Oxbryta, the first medicine that directly inhibits sickle hemoglobin polymerization, the root cause of this devastating, lifelong genetic disease, three months ahead of schedule,” said Ted W. Love, M.D., president and chief executive officer of GBT. “With the early investment we made in building out our commercial infrastructure, we were able to make Oxbryta available to patients and physicians within days of its approval. Patient access to this needed therapy is a top priority for us. We will continue to work closely with payers throughout 2020 to meet our goal of obtaining broad coverage by the end of the year. Most importantly, we are encouraged by the positive feedback we have received to date from physicians and patients who have started Oxbryta therapy. We are optimistic about achieving our vision of making sickle cell disease a well-managed chronic condition by establishing Oxbryta as a standard of care, expanding its approved label and availability around the world, and continuing to research new pathways and develop innovative new therapies.”

For earnings history and earnings-related data on Global Blood Therapeutics (GBT) click here.

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