Netherlands' uniQure Q3 revenue misses estimates

Overview

• Netherlands gene therapy firm's Q3 revenue rose yr/yr but missed analyst expectations

• Q3 net loss narrowed compared to prior-year period

• Company's cash position expected to fund operations into 2030

Outlook

• Company expects cash resources to fund operations into 2030

• FDA sets PDUFA target action date for ifezuntirgene inilparvovec on May 1, 2027

• Company plans to begin U.S. patient screening for confirmatory study by end of 2026

Result Drivers

• LICENSE REVENUE - Co said Q3 revenue increase was driven by higher license revenue

• R&D EXPENSES - Higher R&D expenses mainly due to increased employee and contractor costs, partly offset by lower process validation spending

• SG&A EXPENSES - SG&A costs rose due to increased staffing, professional fees, and IT spending for potential product launch

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for uniQure N.V. is $54.50, about 128.3% above its November 3 closing price of $23.87

Reuters Recommended Reads

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)