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Immune Design (IMDZ) Posts Narrower-Than-Expected Loss in Q3
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Immune Design Corp. reported loss of 29 cents per share in third-quarter 2018, narrower than the Zacks Consensus Estimate of a loss of 32 cents and the year-ago loss of 52 cents.
Immune Design’s shares have lost 61% year to date compared with the industry’s decline of 2.7%.
Quarter in Detail
Total revenues were $0.46 million, up from $0.51 million in the year-ago quarter. Revenues were mainly received from the collaboration with Sanofi (SNY) for G103 (HSV2 therapeutic cancer) along with product sales to collaboration partners. Quarterly revenues missed the Zacks Consensus Estimate of $1 million.
Research and development (R&D) expenses increased 9.8% to $11.2 million in the quarter. The surge was due to an increase in milestone payments of $1.7 million to third parties as a result of the commencement of the SYNOVATE study. This was offset by a decrease in contract manufacturing services and personnel-related expenses.
General and administrative expenses rose 2.6% to $3.8 million.
Pipeline Update
Immune Design is developing multiple candidates using its discovery platforms — ZVex and GLAAS — in the field of immuno-oncology. Its key pipeline candidate is G100.
The company’s initial focus is to assess the efficacy of G100 in combination with Merck’s (MRK - Free Report) Keytruda (pembrolizumab), in relapsed refractory follicular lymphoma patients who have received three prior lines of systemic therapy. In an open-label setting scheduled to begin in the first quarter of 2019, the company plans to evaluate clinical activity based on Objective Response Rate (ORR) and Duration of Response, and patients by "TLR4HIGH" expression, an emerging biomarker that may provide the opportunity to pre-select patients with a higher likelihood to respond to G100.
The company also plans to evaluate G100 in earlier lines of lymphoma combined with Roche’s (RHHBY - Free Report) Rituxan (rituximab). The company is evaluating the potential development of G100 in other indolent lymphomas as well as aggressive lymphomas and solid tumors.
Cash Guidance
Immune Design expects cash to fund operations in 2021.
Immune Design Corp. Price, Consensus and EPS Surprise
Bristol-Myers’ earnings per share estimates have increased from $3.59 to $3.84 for 2018 and from $3.83 to $4.07 for 2019 over the past 60 days. The company delivered a positive earnings surprise in all of the trailing four quarters with an average beat of 11.99%.
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Immune Design (IMDZ) Posts Narrower-Than-Expected Loss in Q3
Immune Design Corp. reported loss of 29 cents per share in third-quarter 2018, narrower than the Zacks Consensus Estimate of a loss of 32 cents and the year-ago loss of 52 cents.
Immune Design’s shares have lost 61% year to date compared with the industry’s decline of 2.7%.
Quarter in Detail
Total revenues were $0.46 million, up from $0.51 million in the year-ago quarter. Revenues were mainly received from the collaboration with Sanofi (SNY) for G103 (HSV2 therapeutic cancer) along with product sales to collaboration partners. Quarterly revenues missed the Zacks Consensus Estimate of $1 million.
Research and development (R&D) expenses increased 9.8% to $11.2 million in the quarter. The surge was due to an increase in milestone payments of $1.7 million to third parties as a result of the commencement of the SYNOVATE study. This was offset by a decrease in contract manufacturing services and personnel-related expenses.
General and administrative expenses rose 2.6% to $3.8 million.
Pipeline Update
Immune Design is developing multiple candidates using its discovery platforms — ZVex and GLAAS — in the field of immuno-oncology. Its key pipeline candidate is G100.
The company’s initial focus is to assess the efficacy of G100 in combination with Merck’s (MRK - Free Report) Keytruda (pembrolizumab), in relapsed refractory follicular lymphoma patients who have received three prior lines of systemic therapy. In an open-label setting scheduled to begin in the first quarter of 2019, the company plans to evaluate clinical activity based on Objective Response Rate (ORR) and Duration of Response, and patients by "TLR4HIGH" expression, an emerging biomarker that may provide the opportunity to pre-select patients with a higher likelihood to respond to G100.
The company also plans to evaluate G100 in earlier lines of lymphoma combined with Roche’s (RHHBY - Free Report) Rituxan (rituximab). The company is evaluating the potential development of G100 in other indolent lymphomas as well as aggressive lymphomas and solid tumors.
Cash Guidance
Immune Design expects cash to fund operations in 2021.
Immune Design Corp. Price, Consensus and EPS Surprise
Immune Design Corp. Price, Consensus and EPS Surprise | Immune Design Corp. Quote
Zacks Rank and Other Key Pick
Immune Design currently carries a Zacks Rank #2 (Buy).
A top-ranked stock worth considering is Bristol-Myers Squibb Company (BMY - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bristol-Myers’ earnings per share estimates have increased from $3.59 to $3.84 for 2018 and from $3.83 to $4.07 for 2019 over the past 60 days. The company delivered a positive earnings surprise in all of the trailing four quarters with an average beat of 11.99%.
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Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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