Jounce Therapeutics (JNCE) reported earnings on Wed 9 Aug 2017 (b/o)

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** charts after earnings **

Jounce Therapeutics beats by $0.04, beats on revs; reaffirms FY17 revs guidance

• Reports Q2 (Jun) loss of $0.11 per share, $0.04 better than the Capital IQ Consensus of ($0.15); revenues were $20.29 mln vs the $19.94 mln Capital IQ Consensus.
• Updated timing of preliminary efficacy data:
  • Preliminary efficacy evaluation is expected in the first half of 2018.
• As of June 30, 2017, cash, cash equivalents and investments were $309.9 million, compared to $257.4 million as of December 31, 2016.
• Co reaffirms guidance for FY17, sees FY17 revs of $80 mln vs. $80.44 mln Capital IQ Consensus Estimate. Additionally, Jounce reiterates the financial guidance previously provided for the full year 2017. Based on its current operating plan, Jounce expects to use approximately $100.0 to $120.0 million in cash for the full year 2017, including the projected expense of operating activities, build out and capital costs associated with the relocation of its lab and office space within Cambridge, Mass. and payment of federal and state income taxes related to the receipt of the Celgene upfront payment of $225.0 million in 2016.