ProAssurance (PRA) Misses Q1 EPS by 6c, Revenues Miss

ProAssurance (NYSE: PRA) reported Q1 EPS of ($0.02), $0.06 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $196.7 million versus the consensus estimate of $279.37 million.

"Based on the highly promising and consistent clinical responses achieved to date, we are pleased to announce polycythemia vera as the first indication for a pivotal study of PTG-300," commented Dinesh V. Patel, Ph.D., Protagonist President and Chief Executive Officer. "With an orphan drug development regulatory path forward, we are focused on rapidly advancing PTG-300 as a first-in-class non-cytoreductive hepcidin hormone mimetic agent for this indication with significant unmet need. With a highly focused development effort forward with PTG-300 for polycythemia vera, and deferring PN-943 Phase 2 initiation due to the current COVID-19 environment, we have reduced our operational expenditures and now have an additional six months of cash runway estimated to extend through mid-2022."

For earnings history and earnings-related data on ProAssurance (PRA) click here.

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