Shares in Bellerophon Therapeutics (NSDQ:BLPH) fell slightly today after the company missed earnings expectations on Wall Street with its fourth-quarter and full-year results.
The Warren, N.J.-based company posted a net loss of -$24.2 million, or -44¢ per share, for the 3 months ended Dec. 31. The company’s bottom-line losses grew -227% compared with the same period last year. Analysts were expecting earnings per share of -24¢.
For the full year, Bellerophon posted a net loss of -$54.8 million, or -$1.41 per share, for a bottom-line loss of -130.3% compared to 2016. Analysts estimated full-year EPS at -$1.18.
“I am pleased to report continued progress in our clinical development programs evaluating INOpulse to treat pulmonary hypertension in a wide range of unmet chronic diseases,” CEO Fabian Tenenbaum said in prepared remarks.
“Importantly, our robust clinical development program is supported by a strong balance sheet, as we ended 2017 with more than $31.8 million in cash, cash equivalents and marketable securities. The upcoming year has the potential to be transformative for Bellerophon, with data expected in our PAH and PH-ILD programs, as well as anticipated further progress in our PH-COPD clinical development program. We are excited about these opportunities and remain focused on developing first-in-class therapies for patients suffering from serious chronic orphan pulmonary diseases in order to continue building long-term shareholder value,” Tenenbaum added.
Earlier this year, Bellerophon announced that it enrolled the first patient in a Phase IIb study assessing its INOpulse device in patients with pulmonary hypertension due to interstitial lung disease.
The company’s placebo-controlled study is slated to evaluate the safety and efficacy of pulsed, inhaled nitric oxide in patients with PH-ILD, including those with idiopathic pulmonary fibrosis, Bellerophon reported.
Forty patients will be enrolled in the trial, the company said, and the study’s primary endpoint is the change in six minute walk distance from baseline to week eight.
BLPH shares were trading at $1.89 apiece today in mid-morning activity, down -0.5%.
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