UniQure Q1 Loss Widens, But Loss/shr Narrows

(RTTNews) - uniQure N.V. (QURE) said that its net loss for the first quarter 2014 was 7.8 million euros or 0.52 euros per share, compared to a loss of 5.2 million euros or 0.53 euros per share for the first quarter 2013.

Research and development expenses were 6.2 million euros, compared to 3.6 million euros for the same period in 2013. The increase reflected the expansion of research and development activities to support the further development of the hemophilia B program, the further development of other pipeline product candidates, as well as the company's efforts to maintain its leadership position in the gene therapy field. The amount of research and development expenses is shown net of charges that were capitalized in relation to the development of the Company's approved product, Glybera.

Licensing and collaboration revenues for the latest-quarter were 1.2 million euros, compared with zero revenues in 2013. The majority of first quarter revenues represent development activities that were reimbursable by Chiesi under the Company's co-development agreement for hemophilia B.

As of March 31, 2014, the Company held cash and cash equivalents of 77.5 million euros.