Synageva BioPharma Corp.
) reported fourth quarter 2013 loss of $1 per share, wider than
the year-ago loss of 62 cents per share, but narrower than the
Zacks Consensus Estimate of a loss of $1.02 per share.
Fourth quarter revenues were $3.5 million, down 28.8% from the
year-ago quarter. Revenues, however, surpassed the Zacks
Consensus Estimate of $2 million.
Synageva reported a full-year loss of $3.40 per share, wider
than the year-ago loss of $1.90 per share and the Zacks Consensus
Estimate of a loss of $3.37 per share.
Revenues decreased 10.6% in 2013 to $13.4 million from the
previous year. Revenues, however, surpassed the Zacks Consensus
Estimate of $12 million.
In the reported quarter, Synageva earned royalties from
) on Fuzeon and collaboration and license revenues from its
R&D expenses increased 95% year over year to $25.2
million. SG&A expenses increased 39.7% year over year to $8.9
Synageva expects a net operating loss of $190 million − $205
million in 2014 as it continues to invest in its pipeline and
expands its global, commercial and medical infrastructure.
Synageva's lead candidate, sebelipase alfa, is in a phase III
study (ARISE) for the treatment of lysosomal acid lipase
deficiency (LAL deficiency) in children and adults. Top-line
results should be out in the third quarter of 2014.
By the end of the first quarter of 2015, the company expects
to file a Biologic License Application (BLA) for sebelipase alfa
to the U.S. Food and Drug Administration (FDA) and a marketing
authorization application (MAA) to the European Medicines Agency
Meanwhile, the company intends to commence a study on SBC-103
by mid-2014. SBC-103 will be evaluated as an enzyme replacement
therapy for mucopolysaccharidosis type IIIB (MPS IIIB).
Synageva currently carries a Zacks Rank #3 (Hold). We expect
investor focus to remain on thye ARISE data.
Some better-ranked stocks in the health care sector include
Alexion Pharmaceuticals, Inc
Gilead Sciences Inc.
). Both stocks carry a Zacks Rank #1 (Strong Buy).
ALEXION PHARMA (ALXN): Free Stock Analysis
SYNAGEVA BIOPHM (GEVA): Free Stock Analysis
GILEAD SCIENCES (GILD): Free Stock Analysis
ROCHE HLDG LTD (RHHBY): Free Stock Analysis
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