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Immune Design (IMDZ) Posts Narrower-Than-Expected Loss in Q1
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Immune Design Corp. reported loss of 28 cents per share in first-quarter 2018, narrower than the Zacks Consensus Estimate of a loss of 29 cents and the year-ago period loss of 50 cents.
Immune Design’s shares have lost 7.7% year to date compared with the industry’s decline of 3.8%.
Quarter in Detail
Total revenues were $0.5 million, down from $5.5 million in the year-ago quarter. Revenues received from the collaboration with Sanofi (SNY - Free Report) for G103 (HSV2 therapeutic cancer) contributed majorly. Quarterly revenues missed the Zacks Consensus Estimate of $2 million.
Research and development (R&D) expenses declined 26.6% to $10.3 million in the quarter. The decline was due to a decrease of $4.8 million in contract manufacturing costs related both internal and collaboration programs. However, an increase of $1.1 million in personnel-related and other research and development expenses offset the decline.
General and administrative expenses fell 3.4% to $4 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 candidates include CMB305 and G100.
Following discussions with the FDA, the company announced plans to initiate a pivotal phase III study to support a Biologics License Application for CMB305 on patients with synovial sarcoma. Progression free survival (PFS) and overall survival will become independent primary endpoints. Post the success of PFS, the FDA may forward approval. The company plans to initiate the study in mid-2018.
Additionally, the company stated that the higher dose of CMB305 (4x the vector component compared to earlier clinical studies) was found to be safe by a data monitoring committee and cleared to move forward into the planned pivotal phase III trial in frontline maintenance in synovial sarcoma patients.
Meanwhile, CMB305 is being evaluated for soft tissue sarcoma patients as monotherapy and in combination with an anti-PD-L1 antibody. Updated data in follicular lymphoma patients showed that a higher dose of G100 (20ug, 2x the dose studied in the ongoing randomized study with pembrolizumab) has increased activity, as defined by a two-fold increase in tumor infiltrating lymphocytes (TILs) pre- versus post-G100 treatment. Immune Design is planning to meet the FDA regarding next steps for development of G100.
Cash Guidance
Immune Design expects cash to fund operations into the second half of 2020.
Zacks Rank & Key Pick
Immune Design currently carries a Zacks Rank #3 (Hold).
Ligand’s earnings per share estimates have moved up $4.20 to $4.43 for 2018 over the last 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters, with an average beat of 24.88%. The company’s shares have rallied 13.1% year to date.
Protagonist’s loss estimates narrowed from $1.68 to 66 cents for 2018 and from $2.43 to $1.26 for 2019, over the last 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters, with an average beat of 24.95%.
Immune Design Corp. Price, Consensus and EPS Surprise
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia and other conditions. New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Immune Design (IMDZ) Posts Narrower-Than-Expected Loss in Q1
Immune Design Corp. reported loss of 28 cents per share in first-quarter 2018, narrower than the Zacks Consensus Estimate of a loss of 29 cents and the year-ago period loss of 50 cents.
Immune Design’s shares have lost 7.7% year to date compared with the industry’s decline of 3.8%.
Quarter in Detail
Total revenues were $0.5 million, down from $5.5 million in the year-ago quarter. Revenues received from the collaboration with Sanofi (SNY - Free Report) for G103 (HSV2 therapeutic cancer) contributed majorly. Quarterly revenues missed the Zacks Consensus Estimate of $2 million.
Research and development (R&D) expenses declined 26.6% to $10.3 million in the quarter. The decline was due to a decrease of $4.8 million in contract manufacturing costs related both internal and collaboration programs. However, an increase of $1.1 million in personnel-related and other research and development expenses offset the decline.
General and administrative expenses fell 3.4% to $4 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 candidates include CMB305 and G100.
Following discussions with the FDA, the company announced plans to initiate a pivotal phase III study to support a Biologics License Application for CMB305 on patients with synovial sarcoma. Progression free survival (PFS) and overall survival will become independent primary endpoints. Post the success of PFS, the FDA may forward approval. The company plans to initiate the study in mid-2018.
Additionally, the company stated that the higher dose of CMB305 (4x the vector component compared to earlier clinical studies) was found to be safe by a data monitoring committee and cleared to move forward into the planned pivotal phase III trial in frontline maintenance in synovial sarcoma patients.
Meanwhile, CMB305 is being evaluated for soft tissue sarcoma patients as monotherapy and in combination with an anti-PD-L1 antibody. Updated data in follicular lymphoma patients showed that a higher dose of G100 (20ug, 2x the dose studied in the ongoing randomized study with pembrolizumab) has increased activity, as defined by a two-fold increase in tumor infiltrating lymphocytes (TILs) pre- versus post-G100 treatment. Immune Design is planning to meet the FDA regarding next steps for development of G100.
Cash Guidance
Immune Design expects cash to fund operations into the second half of 2020.
Zacks Rank & Key Pick
Immune Design currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the same space worth considering are Ligand Pharmaceuticals (LGND - Free Report) and Protagonist Therapeutics (PTGX - Free Report) . Both Ligand and Protagonist sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ligand’s earnings per share estimates have moved up $4.20 to $4.43 for 2018 over the last 30 days. The company delivered a positive earnings surprise in three of the trailing four quarters, with an average beat of 24.88%. The company’s shares have rallied 13.1% year to date.
Protagonist’s loss estimates narrowed from $1.68 to 66 cents for 2018 and from $2.43 to $1.26 for 2019, over the last 60 days. The company delivered a positive earnings surprise in three of the trailing four quarters, with an average beat of 24.95%.
Immune Design Corp. Price, Consensus and EPS Surprise
Immune Design Corp. Price, Consensus and EPS Surprise | Immune Design Corp. Quote
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