Synageva 4Q Loss Narrower-than-Expected Loss - Analyst Blog

By
A A A

Synageva BioPharma Corp. ( GEVA ) 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.

Quarterly Details

In the reported quarter, Synageva earned royalties from Roche ( RHHBY ) on Fuzeon and collaboration and license revenues from its partners.

R&D expenses increased 95% year over year to $25.2 million. SG&A expenses increased 39.7% year over year to $8.9 million.

2014 Guidance

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 (EMA).

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 . ( ALXN ) and Gilead Sciences Inc. ( GILD ). Both stocks carry a Zacks Rank #1 (Strong Buy).



ALEXION PHARMA (ALXN): Free Stock Analysis Report

SYNAGEVA BIOPHM (GEVA): Free Stock Analysis Report


GILEAD SCIENCES (GILD): Free Stock Analysis Report

ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report

To read this article on Zacks.com click here.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Business , Stocks

Referenced Stocks: MAA , ALXN , GEVA , GILD , RHHBY

Zacks.com

Zacks.com

More from Zacks.com:

Related Videos

Stocks

Referenced

Most Active by Volume

86,904,687
  • $15.56 ▼ 1.46%
86,854,347
  • $7.62 ▼ 1.93%
85,075,754
  • $27.25 ▼ 0.11%
49,181,594
  • $124.75 ▼ 1.13%
48,007,815
  • $8.79 ▲ 1.27%
41,460,304
  • $58.42 ▼ 2.09%
41,296,100
  • $41.615 ▼ 1.29%
40,272,476
  • $106.01 ▼ 1.56%
As of 4/17/2015, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com