Receptos (RCPT) Misses Q1 EPS by 20c

Receptos (NASDAQ: RCPT) reported Q1 EPS of ($1.29), $0.20 worse than the analyst estimate of ($1.09). Revenue for the quarter came in at $0 versus the consensus estimate of $5.1 million.

"With the recently announced positive maintenance results of the TOUCHSTONE Phase 2 trial of ozanimod, we are moving forward expeditiously with a full Phase 3 program in ulcerative colitis as well as a Phase 2 trial in Crohn's disease," said Faheem Hasnain, Chief Executive Officer of Receptos. "We have a strong balance sheet and full ownership of the program, and have confidence in our ability to execute on the development plan for ozanimod in relapsing multiple sclerosis and inflammatory bowel disease. We are also excited about the progress we are making with RPC4046 in eosinophilic esophagitis and our pre-clinical oral GLP-1 program."

Receptos had $644.6 million in cash, cash equivalents and short term investments and approximately 33.0 million shares of common stock outstanding on a fully diluted basis as of March 31, 2015.

For earnings history and earnings-related data on Receptos (RCPT) click here.

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