(Updated - November 13, 2017 6:39 AM EST)

Jounce Therapeutics (NASDAQ: JNCE) reported Q3 EPS of ($0.13), $0.12 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $22.47 million versus the consensus estimate of $20 million.

Financial Guidance:

Jounce has narrowed its financial guidance previously provided for the full year 2017. Jounce previously announced that it expected to use approximately $100.0 million to $120.0 million in cash for the full year 2017. Based on its current operating plan for the remainder of the year, Jounce now expects to use approximately $100.0 million to $110.0 million in cash for the full year 2017, including the projected expense of operating activities, build out and capital costs associated with the relocation of its lab and office space in Cambridge, Massachusetts and payment of federal and state income taxes related to the receipt of the Celgene upfront payment of $225.0 million in 2016.

Additionally, Jounce previously announced that it expected collaboration revenue, from the non-cash amortization of the Celgene upfront payment, for the full year 2017 to be approximately $80.0 million. Jounce now expects its collaboration revenue for the full year 2017 to be between $70.0 million and $75.0 million, representing the amortization of the Celgene upfront payment of $225.0 million received in 2016. The update from the prior guidance is due to a change in the estimated performance period for certain units of accounting under Jounce’s global strategic collaboration with Celgene.

GUIDANCE:

Jounce Therapeutics sees FY2017 revenue of $70-75 million, versus the consensus of $80.54 million.

For earnings history and earnings-related data on Jounce Therapeutics (JNCE) click here.

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