Sierra Oncology reports Q3 EPS (17c), consensus (21c)
Cash and cash equivalents totaled $67.7M as of September 30 compared to $106.0M as of December 31, 2018. Reports research and development expenses $10.1M for the three months ended September 30 compared to $12.9M for the three months ended September 30, 2018. The company added, "During the Q3 we continued to prepare for the launch of the MOMENTUM Phase 3 clinical trial, which is expected to occur in the Q4. Data that will be generated from this trial, along with data from more than 800 myelofibrosis patients previously treated with momelotinib, many of them durably benefiting for several years of treatment, will form the basis of our planned regulatory submissions for this drug.If ultimately approved, momelotinib could represent a significant addition to the limited number of therapeutics available to patients with myelofibrosis, and potentially become the first therapeutic capable of improving anemia in these patients rather than exacerbating it, while also providing meaningful and long-lasting symptom and spleen benefits."