Selecta Biosciences (SELB) Q2 Earnings & Sales Miss Estimates
Watertown, MA-based Selecta Biosciences, Inc. SELB is a clinical-stage biotechnology company, which focuses on unlocking the full potential of biologic therapies based on its immune tolerance technology (ImmTOR) platform.
The company’s lead pipeline candidate, SEL-212, which is a combination of Selecta’s tolerogenic ImmTOR immune tolerance platform and a therapeutic uricase enzyme, pegadricase, on the second-quarter call. The head-to-head phase II COMPARE study evaluating SEL-212 versus pegloticase to treat chronic refractory gout patients completed enrollment in December 2019. Top-line results from the study are expected in the third quarter. The phase III program is expected to be initiated later this year.
Selecta Biosciences earnings performance has been mixed. Its earnings beat expectations in two of the last four quarters and missed in the other two, with the negative surprise being 6.71%, on average.
Currently, Selecta Biosciences has a Zacks Rank #2 (Buy).
Earnings: Selecta Biosciences incurred a loss of 25 cents per share in the second quarter. The Zacks Consensus Estimate was earnings of 59 cents.
Revenues: In the absence of a marketed drug, Selecta Biosciences is yet to generate any revenues from product sales. The Zacks Consensus Estimate was $75 million.
Key Stats: Research and development expenses were $10.7, down 11.6% year-over-year. General and administrative expenses were $5.6 in the second quarter, up 36.5% on a yearly basis.
2020 Guidance: Selecta Biosciences expects that its cash, cash equivalents and marketable securities as of June 30, 2020 will be able to fund its anticipated operating expenses and capital expenditure requirements at least into the first quarter of 2023.
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