uniQure N.V. reported its financial results for the third quarter of 2024 on November 5, 2024, alongside updates on its clinical programs and strategic initiatives. The company ended the quarter with a cash, cash equivalents, and investment securities position of $435.2 million as of September 30, 2024, which is expected to fund operations through the end of 2027.
For the third quarter, revenue increased to $2.3 million, up from $1.4 million in the same period of 2023, primarily driven by an increase in license revenue. Research and development expenses decreased significantly to $30.6 million from $65.4 million year-over-year, largely due to changes in contingent consideration, reduced employee-related expenses, and lower preclinical supply costs. Selling, general, and administrative expenses also decreased to $11.6 million from $18.1 million.
The net loss for Q3 2024 narrowed to $44.4 million, or $0.91 per share, an improvement from a net loss of $89.6 million, or $1.88 per share, in Q3 2023. This financial improvement reflects the impact of strategic actions, including the sale of the Lexington manufacturing facility in July 2024 and an organizational restructuring announced in August 2024, which are expected to reduce operating expenses and cash burn.
Clinically, uniQure presented positive interim data for AMT-130 in Huntington's disease, demonstrating a dose-dependent slowing of disease progression. A Type B meeting with the FDA is scheduled for late November 2024 to discuss a potential expedited clinical development pathway for AMT-130. Additionally, patient dosing has begun in new Phase I/II studies for AMT-162 in SOD1-ALS and AMT-191 in Fabry disease, and the first patient was enrolled in the observational stage of the AMT-260 study for mesial temporal lobe epilepsy.
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