Global Blood Therapeutics (GBT) Misses Q3 EPS by 24c

November 5, 2020 5:59 PM EST

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Global Blood Therapeutics (NASDAQ: GBT) reported Q3 EPS of ($0.97), $0.24 worse than the analyst estimate of ($0.73). Revenue for the quarter came in at $36.89 million versus the consensus estimate of $43.98 million.

“Our team continued to successfully execute on the launch of Oxbryta during the third quarter, expanding access and adoption of this first-in-class treatment that directly targets the underlying cause of sickle cell disease (SCD). We delivered an increase in new prescriptions despite a significant increase in COVID-19 infections in the U.S., including in states with the highest number of SCD patients – who are at high risk of serious illness from COVID-19. We also made substantial progress in adding new prescribers and expanding payer coverage, further establishing a strong foundation for the Oxbryta launch, about which we continue to be very pleased. We continue to monitor COVID-19 infection rates across the country and prioritize the health and safety of patients, healthcare providers, and our employees. We remain confident in the long-term potential of Oxbryta,” said Ted W. Love, M.D., president and chief executive officer of GBT.

“During the quarter, we took another step toward making Oxbryta available globally with a distribution agreement aimed at providing access to the large number of sickle cell patients in the Middle East region,” added Dr. Love. “As part of our ongoing commitment to raising awareness of the challenges facing SCD patients and improving their health outcomes, we co-hosted the 9th Annual Sickle Cell Disease Therapeutics Conference, furthering our efforts to support the SCD community. We look forward to reinforcing GBT’s leadership in SCD at this year’s ASH meeting, where we will present nine abstracts, including updates on the clinical profile of Oxbryta with longer-term data from the HOPE Study and several real-world experience abstracts. We are also excited to share new research on our pipeline as we continue to advance our goal of making sickle cell disease a well-managed condition.”

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

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