Dicerna reports Q2 EPS ($1.15), consensus (60c)
Reports Q2 revenue $252,000, consensus $20,000. "We are pleased to have reported a number of significant events during this quarter that support the execution of our business strategy," stated Douglas Fambrough, president and chief executive officer of Dicerna. "Specifically, the completion of our $70 million convertible preferred stock financing and the key addition of Dr. Ralf Rosskamp as chief medical officer, have served to further solidify our financial and leadership capacity. As a result, we are in a strong position to continue to advance DCR-PHXC, our lead GalXC-based product candidate, into Phase 1 clinical studies for primary hyperoxaluria early next year and to continue to pursue Investigational New Drug application-enabling activities for our undisclosed rare disease program as well as for DCR-HBVS. More recently, during the 12th International Workshop on Primary Hyperoxaluria held this past July, we presented new preclinical data for DCR-PHXC demonstrating how inhibition of the lactate dehydrogenase A gene reduced oxalate production in multiple animal models of PH. These data highlight the role of LDHA as an optimal therapeutic target and the potential utility of DCR-PHXC to treat all forms of the disease. These findings indicate that this novel target may offer the ability to treat an expanded population of patients who currently have no other effective options."