Osiris Therapeutics Inc.
) reported a fourth-quarter loss of 8 cents per share, narrower
than the Zacks Consensus Estimate of a loss of 15 cents. However,
year-ago earnings were 15 cents per share. Revenues for the
quarter came in at $2.9 million, slightly below the Zacks
Consensus Estimate of $3.1 million but well above the year-ago
revenues of $0.8 million.
Full-year 2012 loss came in at 34 cents per share, narrower
than the Zacks Consensus Estimate of a loss of 41 cents per
share. Year-ago earnings were 45 cents per share. Full-year
revenues came in at $7.8 million, missing the Zacks Consensus
Estimate of $12 million but well above the year-ago revenues of
Biosurgery product revenues came in at $2.9 million,
significantly above the year-ago revenues of $0.8 million.
Research and development (R&D) expenses declined 26.2%
from the year-ago period to $3.1 million, mainly due to the
wrapping up of some of the trials being conducted with Prochymal.
General and administrative expenses increased 20% from the
year-ago period to $1.8 million due to higher commercial
activities in the Biosurgery segment.
Osiris has made significant progress with stem cell therapies.
The upside potential to lead candidate Prochymal could be
enormous. Prochymal gained approval in Canada and New Zealand in
the second quarter of 2012 for the treatment of acute
graft-vs-host disease (GvHD) in children. Prochymal is the first
manufactured stem cell product to gain approval and the first
treatment to gain approval for GvHD.
Osiris is working with regulatory agencies across the world to
provide them with the information needed to approve
Osiris is studying Prochymal for several indications including
Crohn's disease and acute myocardial infarction, which are
As far as the Crohn's disease indication is concerned, Osiris
said that enrolment for a phase III study continues. The company
is actively looking for a partner for Prochymal. Last year,
Osiris had regained commercial rights for Prochymal and
Osiris currently carries a Zacks Rank #3 (Hold). We are
pleased with the performance of the company's Biosurgery segment.
However, while we are impressed with Osiris' progress in
cell-based therapies, we note that any pipeline setbacks would
weigh heavily on the stock.
At present, companies like
) look more attractive. While Cytokinetics is a Zacks Rank #1
(Strong Buy) stock, Agenus is a Zacks Rank #2 (Buy) stock.
AGENUS INC (AGEN): Free Stock Analysis Report
CYTOKINETCS INC (CYTK): Free Stock Analysis
OSIRIS THERAPTC (OSIR): Free Stock Analysis
SANOFI-AVENTIS (SNY): Free Stock Analysis
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