uniQure plunges 27% on Q2 revenue miss, postpones higher dose trial of Huntington’s disease therapy

Aug. 08, 2022 10:01 AM ETuniQure N.V. (QURE)By: Dania Nadeem, SA News Editor

Quarterly results

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  • uniQure (NASDAQ:QURE) is trading 27% down premarket after the company reported lower-than-expected Q2 revenue.
  • The company also announced that it was postponing the trial of a higher dose of AMT-130 to treat Huntington’s disease procedures due to recent suspected unexpected severe adverse reactions.
  • In July, the company reported to the health authorities suspected unexpected severe adverse reactions in three of the 14 patients treated with the higher dose of AMT-130.
  • However, the company said lower-dose procedures were not affected and it continues to expect on anticipated data readouts in 2023.
  • Revenue fell ~100% to $0.5M, and missed estimates by $8.71M, while a loss of -$0.84 beat by $0.11.
  • Cost of contract revenues for the quarter was nil compared to $23.2M, a year earlier.
  • Research and development expenses were $46.2M compared to $32.8M, due to preclinical development of temporal lobe epilepsy (AMT-260) advancing the clinical development of the company’s Huntington’s disease gene therapy program, and recruitment of personnel to support the development of product candidates.

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