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Atrium Therapeutics Q3 collaboration revenue rises on BMS milestone

By Reuters News


Overview

  • US biopharma's Q3 collaboration revenue rose, driven by BMS milestone payment

  • Company posted Q3 net loss as R&D expenses increased for clinical programs

  • Atrium closed $50 mln private placement, extending cash runway through 2028


Outlook

  • Company expects to report initial proof of concept data from Corventis trial in H2 2027

  • Atrium plans to file IND application for ATR 1086 in 2027

  • Atrium estimates cash runway through 2028


Result Drivers

  • BMS MILESTONE PAYMENT - Collaboration revenue was mainly driven by a $15 mln milestone earned under the research collaboration and license agreement with Bristol Myers Squibb

  • R&D SPENDING - Increased R&D expenses reflected clinical trial activities for Corventis, manufacturing and IND-enabling costs for ATR 1086, and continued development of research capabilities

  • PRIVATE PLACEMENT - $50 mln private placement extended cash runway through 2028, supporting operations and upcoming milestones


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Collaboration Revenue

$15.32 mln

Q3 Net Loss

$4.27 mln

Q3 Operating Expenses

$21.95 mln

Q3 Operating Income

-$6.63 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "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 Atrium Therapeutics Inc is $25.00, about 214.1% above its November 11 closing price of $7.96


Reuters Recommended Reads

  • Nov 9 - Annexon Biosciences Q3 net loss narrows on lower R&D expenses, cash runway extends to 2028

  • Nov 10 - Liquidia Q3 loss widens on litigation charge, negating Yutrepia demand

  • Nov 12 - Ascendis Pharma Q3 product revenue rises on YORVIPATH sales


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.)

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