NEW YORK, July 16, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on ProQR Therapeutics N.V. (NASDAQ: PRQR). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=PRQR
Highlights from our PRQR Report include:
- Financial Highlights - On May 21, 2015, ProQR Therapeutics N.V. released results for the first quarter of 2015. Net profit attributable to equity holders of the Company amounted to EUR 0.2 million, as compared to a loss of EUR 1.9 million in Q1 2014. Consequently, earnings per share for the period were EUR 0.01, compared to loss per share of EUR 0.30 in previous year quarter. Other income increased from EUR 4,000 in prior year quarter to 0.3 million in Q1 2015.
- R&D-led Product Development - In Q1 2015, research and development (R&D) cost increased to EUR 5.5 million from EUR 1.3 million in Q1 2014, reflecting the expansion of R&D activities to support the further development of the Company's lead product candidate, QR-010, for the treatment of cystic fibrosis, and the development of the Company's other pipeline product candidates, including QR-110 for the treatment of Leber's congenital amaurosis, the leading genetic cause of childhood blindness. Meanwhile, general and administration cost amounted to EUR 1.6 million, higher than EUR 0.6 million in the previous year quarter. The increase is related to the expansion of the Company through 2014.
- Improved Liquidity Position - The Company's cash and cash equivalent stood at EUR 113.8 million as of March 31, 2015, higher than EUR 112.7 million at December 31, 2014. The net increase in cash and cash equivalents was mainly due to foreign exchange gain of EUR 6.8 million. In addition, net cash used in operating activities during Q1 2015 was recorded at EUR 5.3 million, versus EUR 1.9 million for the same period last year.
- Strengthening Leadership - Supervisory Board nominated Paul Baart as a member and the Chair of the Audit Committee, so as to further strengthen the capabilities of the Supervisory Board. The Company informed that Paul has significant experience in public accounting in both the Netherlands and the USA. He previously served on PwC Netherlands' Management and Supervisory Boards and was also a member of the Global Board of PwC International.
- Clinical Study Update - The Company stated that the European Committee (EC) granted ProQR and its academic partners a grant of EUR 6 million under the Horizon 2020 program to finance the Phase Ib and PoC clinical studies of QR-010. Further, ProQR has selected the product candidate in its second program QR-110 for the treatment of Leber's congenital amaurosis (LCA) and intends to start first clinical trial for QR-110 in patients suffering from the most common mutation in LCA in H1 2016.
To find out how this influences our rating on ProQR Therapeutics N.V., read the full report in its entirety here: http://www.aciassociation.com/?c=PRQR
About ACI Association:
Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "CFA®"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the CFA® have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the CFA® (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.
ACI Association, the Author, the Reviewer and the CFA® (collectively referred to as the "Publishers") are 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 the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do 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.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.
ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia. Do not send email to robottrap (at) aciassociation.com.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.