Intrexon reports Q2 results, misses on revs (20.98 +0.32)
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- Reports Q2 (Jun) GAAP loss of $0.16 per share ($18.7 mln net loss including a $17.4 mln in non-cash charges) vs. the single analyst estimate of ($0.25); revenues rose 3.6% year/year to $54.4 mln vs the $57.17 mln Capital IQ Consensus. Last night we compared the GAAP net loss to a single adjusted estimate.
- Collaboration and licensing revenues increased $0.7 million from the quarter ended June 30, 2016 due to the recognition of deferred revenue associated with the payment received in June 2016 from ZIOPHARM (ZIOP) to amend the collaborations between the parties which was partially offset by a decrease in research and development services as the Company temporarily redeployed certain resources towards supporting prospective new platforms and additional collaborations. Product revenues decreased $0.9 million, or 8%, primarily due to a decrease in the quantities of pregnant cows and live calves sold due to lower customer demand for these products.
- "Looking to the remainder of this year, we expect to see accelerated rollout of our Friendly Aedes solution, the commercial launch of Arctic apples, the initiation of additional innovative gene and cell therapy trials along with data from existing trials, and progress of several types in our methane bioconversion platform, in crop protection, in AquAdvantage Salmon production as well as in numerous other areas in which our team is engaged. Moreover, while executing on our existing programs always is our top priority, we are very pleased by the resurgence of interest in our space and the shifting away from the incrementalism that has until recently featured so strongly among many commercial-stage companies that operate in the sectors in which we are active."
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