Kite Pharma (KITE) Tops Q4 EPS by 44c

Kite Pharma (NASDAQ: KITE) reported Q4 EPS of ($1.31), $0.44 better than the analyst estimate of ($1.75). Revenue for the quarter came in at $4.9 million versus the consensus estimate of $5.6 million.

2017 Financial Guidance

• Kite expects full year 2017 net cash burn to be between $325 million and $340 million, which includes approximately $30 million in capital expenditures but excludes cash inflows or cash outflows from business development activities, if any, and excludes planned upfront payments totaling $90 million from recently announced strategic collaborations in Asia. Estimated full year 2017 cash burn is driven primarily by a projected GAAP net loss of between $450 million and $465 million. The 2017 projected net loss includes non-cash stock-based compensation expenses of approximately $135 million.
• Kite expects full year 2017 revenue to be between $40 million and $50 million, which assumes no product revenue, and full year 2017 GAAP operating expenses to be between $490 million and $515 million.
• As previously announced, Kite expects to have sufficient cash resources to fund its current operations, including planned clinical development programs, through the first half of 2018. This projection excludes cash inflows or cash outflows from future business development activity, if any.

For earnings history and earnings-related data on Kite Pharma (KITE) click here.

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