QLT Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
Aug 5 14
QLT Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company posted loss per share from continuing operations of $0.17, compared with the prior-year period's $0.12 per share. Increase in loss per share is due to the $2.5 million of consulting and transaction fees incurred in connection with the evaluation of strategic alternatives and the resulting proposed Merger with Auxilium, which was partially offset by lower R&D and restructuring expenses. The company booked a deeper loss of $8.6 million compared to $6.2 million a year ago. Much of the loss came from higher expenses paid for consulting and transaction fees as the company explored its strategic alternatives earlier this year. Operating loss was $8,578,000 against $7,125,000 a year ago. Loss from continuing operations before income taxes was $8,558,000 compared to $5,887,000 a year ago. Loss from continuing operations was $8,581,000 compared to $6,029,000 a year ago.
For the six months, the company reported operating loss of $16,349,000 compared to $14,344,000 a year ago. Loss from continuing operations before income taxes was $14,805,000 compared to $12,321,000 a year ago. Loss from continuing operations was $15,043,000 compared to $12,646,000 a year ago. Net loss was $15,100,000 or $0.29 basic and diluted earnings per share compared to $12,626,000 or $0.25 basic and diluted earnings per share a year ago.
QLT Inc. Announces Publication in the Lancet of Phase 1B Data for QLT091001 in Leber Congenital Amaurosis Due to LRAT or RPE65 Mutations
Jul 14 14
QLT Inc. announced the publication of data from its Phase 1b proof-of-concept trial of QLT091001 in subjects with Leber Congenital Amaurosis (LCA) due to inherited genetic mutations in retinal pigment epithelium (RPE65) or lecithin:retinol acyltransferase (LRAT) in The Lancet. In the study, treatment for 7 days with oral QLT091001 demonstrated a restoration of clinically meaningful visual function in 11 of the 14 LCA patients, as measured by improvement in Goldmann Visual Fields (GVF) or visual acuity. Self-reported or parent-reported improvements in activities of daily living supported these findings. The trial enrolled 14 patients, ages 6--38, with Leber Congenital Amaurosis due to mutations in RPE65 or LRAT. Patients received 7 days of oral QLT091001 (12 subjects received 40 mg/m(2) per day and 2 subjects received 10 mg/m(2) per day). Patients were assessed at baseline and days 7, 9, 14, and 30, and every 2 months thereafter, for up to 3 years, for safety outcomes and visual function endpoints, which included GVF, visual acuity, and a functional MRI assessment. In the study, 10 of 14 patients had an improvement of GVF, with a mean increase in retinal area of 28--683%. Six patients had an improvement in visual acuity, with a mean increase of 2--30 letters. After two years, three patients had a sustained GVF response and four had a sustained visual acuity response. Four patients had functional MRI scans, which correlated with visual response or absence of response to treatment. Ten of the responders had self-reported improvements in activities of daily living. No serious adverse events occurred, although transient headaches, photophobia, reduction in serum HDL concentrations, and mild, reversible increases in serum triglycerides and aspartate aminotransferase concentrations were observed.
Auxilium Pharmaceuticals Inc., QLT Inc. - M&A Call
Jun 26 14
To discuss agreement and plan of merger among QLT, Auxilium Pharmaceuticals, Inc