Kite Pharma, Inc. is a development-stage company focused on the development of immuno-oncology treatments and is looking to revolutionize cancer treatments by engaging the body’s own immune system to treat cancer. Kite uses eACT to genetically modify T cells to express either CARs or TCRs. The modified T-cells are designed to recognize and destroy cancer cells. Immuno-oncology is a hot therapeutic area with huge commercial potential.
With no approved products in its portfolio, investor focus will primarily be on the company’s cash burn and pipeline updates.
KITE-C19, its lead pipeline candidate, is currently in the pivotal phase of a phase I-II study (ZUMA-1) in patients with refractory diffuse large B cell lymphoma (DLBCL) including primary mediastinal B cell lymphoma (PMBCL) and transformed follicular lymphoma (TFL). All these are types of aggressive non-Hodgkin’s lymphoma (NHL). In September, the company announced encouraging top-line results from the phase II part of ZUMA-1 study and expects to file a Biologic license application (BLA) in the DLBCL, TFL and PMBCL indications, based on this data. Kite plans to initiate a rolling submission of the BLA by the end of December this year with a targeted completion by the end of the first quarter 2017. KTE-C19 is expected to be launched in 2017. Meanwhile, KTE-C19 is being evaluated in other cancer studies as well.
KITE, which started trading from Jun 2014, has a mixed record of earnings surprises. It delivered positive earnings surprises in two of the past four quarter while missed in the other two, bring the average surprise to a positive 8.48%.
Currently, KITE has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Loss Narrower-Than-Expected: KITE reported third quarter 2016 loss of 1.49 cents per share, narrower than our consensus estimate of a loss of $1.68 cents per share.
Revenues Beat: Revenues in the reported quarter surpassed expectations as well. KITE posted revenues of $7.3 million, compared to our consensus estimate of $4.95 million.
Key Stats: While Kite’s research and development expenses shot up 163.6% from the year-ago period to $57.3 million in the reported quarter, general and administrative expenses were $25.0 million, up 124.8% from the year-ago period.
Pre-Market Trading: Shares shot up 12% in pre-market trading.
Check back later for our full write up on this KITE earnings report later!
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Kite Pharma (KITE) Q3 Loss Narrower Than Expected; Shares Up
Kite Pharma, Inc. is a development-stage company focused on the development of immuno-oncology treatments and is looking to revolutionize cancer treatments by engaging the body’s own immune system to treat cancer. Kite uses eACT to genetically modify T cells to express either CARs or TCRs. The modified T-cells are designed to recognize and destroy cancer cells. Immuno-oncology is a hot therapeutic area with huge commercial potential.
With no approved products in its portfolio, investor focus will primarily be on the company’s cash burn and pipeline updates.
KITE-C19, its lead pipeline candidate, is currently in the pivotal phase of a phase I-II study (ZUMA-1) in patients with refractory diffuse large B cell lymphoma (DLBCL) including primary mediastinal B cell lymphoma (PMBCL) and transformed follicular lymphoma (TFL). All these are types of aggressive non-Hodgkin’s lymphoma (NHL). In September, the company announced encouraging top-line results from the phase II part of ZUMA-1 study and expects to file a Biologic license application (BLA) in the DLBCL, TFL and PMBCL indications, based on this data. Kite plans to initiate a rolling submission of the BLA by the end of December this year with a targeted completion by the end of the first quarter 2017. KTE-C19 is expected to be launched in 2017. Meanwhile, KTE-C19 is being evaluated in other cancer studies as well.
KITE, which started trading from Jun 2014, has a mixed record of earnings surprises. It delivered positive earnings surprises in two of the past four quarter while missed in the other two, bring the average surprise to a positive 8.48%.
KITE PHARMA INC Price and EPS Surprise
KITE PHARMA INC Price and EPS Surprise | KITE PHARMA INC Quote
Currently, KITE has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Loss Narrower-Than-Expected: KITE reported third quarter 2016 loss of 1.49 cents per share, narrower than our consensus estimate of a loss of $1.68 cents per share.
Revenues Beat: Revenues in the reported quarter surpassed expectations as well. KITE posted revenues of $7.3 million, compared to our consensus estimate of $4.95 million.
Key Stats: While Kite’s research and development expenses shot up 163.6% from the year-ago period to $57.3 million in the reported quarter, general and administrative expenses were $25.0 million, up 124.8% from the year-ago period.
Pre-Market Trading: Shares shot up 12% in pre-market trading.
Check back later for our full write up on this KITE earnings report later!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>