uniQure NV (NASDAQ:QURE) reported a net loss of $89.6 million for Q3 2023, compared to a net loss of $47.9 million in the same period in 2022.
The company's cash position as of September 30, 2023, was approximately $660 million, expected to fund operations into the second quarter of 2027.
uniQure NV (NASDAQ:QURE) announced a strategic reorganization expected to deliver $180 million of cost savings over the next three years.
The company received FDA clearance of IND application for AMT-260 in refractory mesial temporal lobe epilepsy.
On November 7, 2023, uniQure NV (NASDAQ:QURE), a leading gene therapy company, announced its financial results for the third quarter of 2023. The company reported a net loss of $89.6 million, or $1.88 basic and diluted loss per ordinary share, compared to a net loss of $47.9 million, or $1.02 basic and diluted loss per ordinary share, for the same period in 2022.
Financial Highlights
As of September 30, 2023, uniQure NV (NASDAQ:QURE) held cash and cash equivalents and investment securities of $658.9 million, compared to $392.8 million as of December 31, 2022. The company's revenues for the three months ended September 30, 2023, were $1.4 million, consistent with the same period in 2022.
Research and development expenses were $65.4 million for Q3 2023, compared to $48.1 million in the same period in 2022. Selling, general and administrative expenses were $18.1 million for Q3 2023, compared to $13.3 million in the same period in 2022.
Company Progress and Achievements
During the third quarter, uniQure NV (NASDAQ:QURE) made significant progress towards advancing multiple clinical-stage programs. The company achieved FDA clearance of the IND for AMT-260 in refractory mesial temporal lobe epilepsy and is making good progress toward initiating patient screening for a Phase I/II trial of AMT-162 in SOD1-ALS and the submission of an IND for AMT-191 in Fabry disease.
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