Senomyx (SNMX) Tops Q3 EPS by 2c

Senomyx (NASDAQ: SNMX) reported Q3 EPS of ($0.05), $0.02 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $6.02 million versus the consensus estimate of $5.36 million.

Financial Review and Outlook:

"Consistent with the first two quarters this year, Senomyx outperformed its financial guidance for the third quarter. We beat our net results guidance by over $600,000 driven by higher than anticipated commercial revenues and managing expenses to the low end of our internal target. Looking forward, we will continue to provide only quarterly guidance due to limited control over the timing of both commercial revenue growth and business development activities," Rogers concluded.

For the fourth quarter of 2016, the Company expects:

• Revenue to be at least $4.2 million, of which at least $2.3 million are commercial revenues; and
• Net loss not to exceed $4.5 million or $0.10 per share.

Regarding the Company's cash position, Senomyx ended the quarter with no debt and $15.7 million in cash. In addition, the Company is currently scheduled to receive $19.1 million in committed development funding payments of which $2.6 million will be received in the fourth quarter of 2016.

For earnings history and earnings-related data on Senomyx (SNMX) click here.

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