Dicerna Pharma (DRNA) Misses Q1 EPS by 2c

Dicerna Pharma (NASDAQ: DRNA) reported Q1 EPS of ($0.39), $0.02 worse than the analyst estimate of ($0.37). Revenue for the quarter came in at $47.6 million versus the consensus estimate of $46.28 million.

We continue to execute across our expanding clinical pipeline, particularly across our PHYOX™ development program for nedosiran, where we anticipate the data from our PHYOX2 pivotal trial in patients with PH1 or PH2 sometime mid-year. We also recently dosed our first patient in PHYOX7, a multidose trial in patients with PH1 or PH2 who have severe renal impairment,” said Douglas Fambrough, Ph.D., President and Chief Executive Officer of Dicerna. “Although enrollment in our PHYOX4 single-dose trial in patients with PH3 has been slower than anticipated in the current COVID-19 environment and will push our NDA submission from late in the third quarter to sometime in the fourth quarter, we expect that nedosiran’s profile may offer compelling advantages in PH1 and be a significant, and the only, therapy for people with PH2 or PH3 who currently have no treatment options to impact disease progression.”

Dr. Fambrough continued, “With regard to our other ongoing clinical programs, we anticipate filing an IND for DCR-AUD for the treatment of alcohol use disorder and expect top-line Phase 1 data in healthy volunteers for belcesiran, our investigational GalXC™ RNAi candidate for the treatment of alpha-1 antitrypsin deficiency-associated liver disease, around mid-year. We have initiated the belcesiran Phase 2 trial and look forward to announcing the initiation of dosing in the coming months as additional sites are activated. With the additional influx of $180 million in non-dilutive cash from the monetization of our lumasiran royalty, we hope to meet our goal of net-zero cash burn in 2021. With this additional cash, our runway has extended into 2024, which includes fully funding our planned development efforts across our pipeline and executing for a strong nedosiran commercial launch.”

For earnings history and earnings-related data on Dicerna Pharma (DRNA) click here.

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