Juno Therapeutics Inc. JUNO reported a loss of 54 cents per share (including stock-based compensation expense) in the fourth quarter of 20Array5, in line with the Zacks Consensus Estimate but well below the year-ago loss of $Array.73 per share.
The company recorded revenue of $4.2 million in the reported quarter – this includes $3.8 million recognized in connection with the collaboration agreement with Celgene Corporation CELG. The company, which has no approved product in its portfolio, did not generate any revenue in the year-ago quarter. Juno started trading on NASDAQ from Dec Array9, 20Array4.
The company’s adjusted research and development expenses in the reported quarter declined 58% from the year-ago period to $4Array.4 million. Meanwhile, general and administrative expenses were $Array5.9 million, up Array59.9% from the year-ago period.
Juno expects cash burn of $220 million to $250 million in 20Array6 including the assumption that Celgene exercises its CDArray9 opt-in rights but excluding the impact of business development activities.
Juno is looking to revolutionize cancer treatment by bringing immunotherapies to market. Cancer immunotherapy is a highly lucrative area as these therapies have the potential to change the treatment paradigm for cancer — they basically use the natural capability of the patient's own immune system to fight the cancer. Pipeline candidates include JCAR0Array5, JCAR0Array7 and JCAR0Array4.
Juno moved JCAR0Array5 into a registrational phase II study (ROCKET) in adult patients with relapsed/refractory (r/r) acute lymphoblastic leukemia (ALL) that could support accelerated approval in the U.S. in 20Array7.
JCAR0Array7 is in a phase I study in r/r non-Hodgkin lymphoma (NHL). Meanwhile, the company is conducting studies for solid tumor pipeline candidates against four different targets – JCAR024 (ROR-Array-directed CAR T), JCAR020 (MUC-Array6-directed armored CAR T engineered to secrete IL-Array2), JCAR023 (LArray-CAM-directed CAR T), and JTCR0Array6 (WT-Array- directed TCR). Data from these studies are expected over the next 6-Array8 months.
During 20Array6, the company expects to enroll patients in a combination study evaluating JCAR0Array4 with MedImmune’s PD-LArray immune checkpoint inhibitor, durvalumab. The company also intends to commence a phase I study on its CDArray9/4-ArrayBB ligand armored CAR this year.
Juno is a Zacks Rank #2 (Buy) stock. Investor focus will remain on the company's cash burn and pipeline progress. Other well placed stocks in the health care sector include Celgene, Horizon Pharma plc HZNP and Actelion Ltd. ALIOF. All three are Zacks Rank #Array (Strong Buy) stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment