It has been about a month since the last earnings report for IVERIC bio (ISEE). Shares have added about 79.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is IVERIC bio due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
IVERIC bio Q3 Loss Narrows Y/Y, Revenues Nil
IVERIC bio reported a loss of 35 cents per share for third-quarter 2019, narrower than the year-ago quarter’s loss of 41 cents.
With no approved products in its portfolio, IVERIC bio derives revenues from milestone and other payments under collaborations. However, there were no such revenues in the quarter.
Quarter in Detail
Research and development expenses in the third quarter were up 10.6% year over year to $10.4 million. The increase in expenses related to the development of gene therapy and HtrA1 inhibitor programs was offset by lower costs associated with the Zimura programs.
General and administrative expenses decreased 21.7% from the year-ago period to $4.7 million due to lower infrastructure and operational costs.
Cash Balance
IVERIC bio’s cash balance was $94.9 million as of Sep 30, 2019, compared with $106.9 million as of Jun 30, 2019.
The company reiterated its expectation for 2019 cash and cash equivalents in the range of $80-$85 million. The company anticipates its cash resources to support its operations through the first half of 2021.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
IVERIC bio, Inc. (ISEE): Free Stock Analysis Report
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