real-time news and commentary for investors
Tuesday, Sep 3
OncoMed reports its first quarterly results since its July IPO; net losses widen
- OncoMed (OMED +1.5%) moves up after reporting its first results since going public in July.
- Q2 net losses widened to $9.6M from $3.8M for the year ago period, mainly because of the timing of a $5M milestone payment in the same quarter last year.
- Collaboration revenues declined to $2.9M, compared to $7.5M for Q212.
- The company received a $10M milestone payment in August, related to the Phase I dose escalation in its vantictumab program, part of its collaboration with Bayer Pharma AG.