![]() ![]() The company does not expect to generate any product revenues from axicabtagene ciloleucel in 2017. Operating expenses are expected to be between $490 million and $515 million in 2017. Net cash burn in 2017 is expected to be between $325 million and $340 million. The increase was due to $409.7 million received from a follow-on offering of common stock and $50 million in upfront payment from Daiichi Sankyo. Kite Pharma ended the year with $804.0 million in cash and marketable securities compared with $414 million at the end of the fourth quarter last year. While Kite Pharma’s research and development expenses shot up 91.5% from the year-ago period to $65.9 million in the reported quarter, general and administrative expenses were $35.8 million, up 114.5% from the year-ago period. In the quarter, the company recognized $5.5 million under the Amgen deal and $4.2 million under the Daiichi Sankyo agreement. ![]() Kite Pharma reported a loss of $1.74 per share in the first quarter of 2017, wider than the Zacks Consensus Estimate of a loss of $1.68 per share as well as the year-ago loss of $0.90 per share.įirst-quarter revenues came in at $9.84 million, below the Zacks Consensus Estimate of $15.30 million but up almost 92% from the year-ago period. Will the recent positive trend continue leading up to the stock's next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted 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. Shares have added about 6.3% in that time frame, outperforming the market. A month has gone by since the last earnings report for Kite Pharma, Inc. ![]()
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