IVERIC bio (ISEE) Tops Q1 EPS by 11c

IVERIC bio (NASDAQ: ISEE) reported Q1 EPS of ($0.28), $0.11 better than the analyst estimate of ($0.39).

“From the onset of this terrible coronavirus (COVID-19) pandemic, our main priority has been the health and safety of patients and their caregivers, physicians and their staffs, and our employees and collaborators,” stated Glenn P. Sblendorio, Chief Executive Officer and President of IVERIC bio. “The first quarter brought unprecedented times, so we chose to pause the initiation of patient enrollment in our second Phase 3 clinical trial of Zimura for the treatment of geographic atrophy secondary to age-related macular degeneration. Due to the dedication and unwavering support of our clinical investigators and their staffs along with our experienced clinical operations team, we put into place an aggressive strategy for Zimura and continue to activate additional sites and progress other trial startup activities, including identification of potential patients, so that we can be in a position to expeditiously begin enrolling patients as soon as we determine the appropriate time to do so. We are excited that Zimura has received Fast Track designation from the U.S. FDA.”

Mr. Sblendorio added, “Following the positive efficacy results and favorable safety profile observed in our initial Phase 3 clinical trial of Zimura and along with advancing our inherited retinal disease gene therapy programs, now is the ideal time to welcome Dr. Pravin Dugel to our executive management team. Pravin brings an extensive network and long-standing relationships with the retinal medical community and the biotech/pharma ophthalmic industry. He will help lead the Company’s strategy and build alliances with potential collaborators, investors and other stakeholders.”

For earnings history and earnings-related data on IVERIC bio (ISEE) click here.

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