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Earnings Insights - Kite Pharma


News provided by

Investor-Edge

Apr 21, 2015, 09:30 ET

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LONDON, April 21, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Investor-Edge.com has issued free earnings review on Kite Pharma Inc. (NASDAQ: KITE). On March 26, 2015, the company announced its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Kite%20Pharma&d=21-Apr-2015&s=KITE to read our free earnings review on Kite Pharma Inc. (Kite Pharma). Chairman, President and CEO of Kite Pharma, Arie Belldegrun, stated that FY14 was a transformative year for the company, marked by achieving several key corporate and clinical milestones In addition to its successful IPO and follow-on offering, the company expanded its management team with world-class talent, filed its first investigational new drug application (IND) for its lead product candidate KTE-C19, and entered into a major research collaboration with Amgen, he added. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=Kite%20Pharma&d=21-Apr-2015&s=KITE

Earnings Overview 

Kite Pharma, a clinical-stage biopharmaceutical company, focused on developing engineered autologous T cell therapy (eACT[TM]) products for the treatment of cancer, for commercial sale. The company has not generated any revenue from product sales to date. Kite Pharma continues to incur significant research and development (R&D) and other expenses related to its ongoing operations. The company is not profitable yet and has incurred losses in each period since its inception in June 2009.

During Q4 FY14, Kite Pharma reported GAAP loss from operations of $13.26 million compared to GAAP loss from operations of $2.40 million in Q4 FY13. The company's GAAP R&D expenses for Q4 FY14 were $7.86 million compared to $1.90 million for Q4 FY13. Further, GAAP general and administrative (G&A) expenses for Q4 FY14 came in at $5.40 million compared to $0.50 million in Q4 FY13. Free research on KITE can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=Kite%20Pharma&d=21-Apr-2015&s=KITE

In Q4 FY14, Kite Pharma's GAAP net loss attributable to common stockholders increased to $13.02 million, or $0.33 loss per diluted share, from GAAP net loss attributable to common stockholders of $2.95 million, or $0.54 loss per diluted share, in Q4 FY13. Analysts from Bloomberg had expected the company to report GAAP net loss attributable to common stockholders of $7.35 million, or $0.18 loss per share, in Q4 FY14. Moreover, Kite Pharma's non-GAAP net loss attributable to common stockholders stood at $7.51 million, or $0.19 loss per diluted share, in Q4 FY14.

For FY14, Kite Pharma's GAAP loss from operations stood at $36.66 million compared to GAAP loss from operations of $6.43 million in FY13. During FY14, Kite Pharma's GAAP R&D expenses increased to $23.09 million from $5.09 million in FY13, primarily due to $9.9 million in non-cash stock-based compensation expense, $3.7 million related to increased R&D staff and consultant costs, and $3.4 million in costs related to its eACT[TM] development program. Furthermore, GAAP G&A expenses grew to $13.57 million in FY14 from $1.34 million in FY13, primarily due to $6.1 million in non-cash stock-based compensation and $4.2 million in increased personnel costs. Sign up and read the free analyst's notes on KITE at:

http://get.Investor-Edge.com/pdf/?c=Kite%20Pharma&d=21-Apr-2015&s=KITE

In FY14, Kite Pharma's GAAP net loss attributable to common stockholders was $43.66 million, or $1.91 loss per diluted share, compared to GAAP net loss attributable to common stockholders of $7.80 million, or $1.43 loss per diluted share, in FY13. Analysts from Bloomberg had expected the company to report GAAP net loss attributable to common stockholders of $40.63 million, or $1.79 loss per share, in FY14. Moreover, Kite Pharma's non-GAAP net loss attributable to common stockholders for FY14 stood at $21.40 million, or $0.94 loss per diluted share.

As of December 31, 2014, Kite Pharma had $367.0 million in cash, cash equivalents, and marketable securities compared to $22.4 million as of December 31, 2013. The increase in cash was largely due to the proceeds from convertible debt offering, IPO, and follow-on public offering. As of December 31, 2014, the company had no outstanding debt and had 41.9 million shares of common stock issued and outstanding. Visit Investor-Edge and access the latest research on KITE at:

http://get.Investor-Edge.com/pdf/?c=Kite%20Pharma&d=21-Apr-2015&s=KITE

Stock Performance  

On the day of the earnings release, March 26, 2015, Kite Pharma's stock plummeted 7.26% to end the session at $57.75. Since then, the stock has witnessed a mixed momentum. On the last close, Monday, April 20, 2015, Kite Pharma's shares finished 9.81% lower at $58.68. The company's shares vacillated between $57.84 and $66.40 during the session. A total of 2.23 million shares were traded which was above their three months average volume of 1.21 million shares. Over the last one month and over the previous three months, the company's shares have declined 18.38% and 20.87%, respectively. However, the stock has advanced 1.75% since the start of 2015. Shares in Kite Pharma closed above their 200-day moving average of $45.26. Furthermore, the stock has a Relative Strength Index (RSI) of 57.26.

Sneak Peek to Corporate Insider Trading 

In the last one month, Kite Pharma has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC).  Complimentary in-depth research on KITE is available at:

http://get.Investor-Edge.com/pdf/?c=Kite%20Pharma&d=21-Apr-2015&s=KITE

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

===============

EDITOR'S NOTES:

===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE Investor-Edge

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