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|Kindred Biosciences Announces Third Quarter 2017 Financial Results|
"We continue to look forward to the upcoming approval of our lead product candidates, Mirataz and Zimeta. We expect a slight adjustment to our regulatory timeline but remain excited to transition to a commercial stage company," stated
Development and Corporate Updates
Based on the progress related to launch preparation, if Mirataz is approved in the first quarter as expected, commercial timelines and 2018 revenue expectations are not expected to be impacted significantly.
The Company executed a commercial manufacturing agreement with
Mirataz is expected to be the first
Zimeta is expected to be the first
Zimeta Oral, which is an oral gel, is expected to expand use of the drug and build upon the success of Zimeta IV.
Sepsis in foals can cause up to 50% mortality and is an important unmet medical need. There is currently no
Anemia is a common condition in older cats which is often associated with chronic kidney disease, resulting in decreased levels of endogenous erythropoietin. Chronic kidney disease can affect approximately half of older cats. epoCat is a recombinant protein that has been specially engineered by KindredBio with a prolonged half-life compared to endogenous feline erythropoietin. The PK data suggest that the molecule may have a sufficiently long half-life to allow for once-monthly dosing.
Atopic dermatitis is an immune-mediated inflammatory skin condition in dogs. It is one of the most common skin diseases in dogs and represents a significant unmet medical need. KindredBio is pursuing a multi-pronged approach toward atopic dermatitis, with a portfolio of promising biologics.
Third Quarter and Nine Month 2017 Financial Results
For the quarter ended
Total research and development expenses for the three and nine months ended
Total general and administrative expenses were
For the 2017 calendar year, the Company revises down its guidance for operating expenses to a range of
Webcast and Conference Call
KindredBio will host a conference call and webcast today at
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding our expectations about the trials, regulatory approval, manufacturing, distribution and commercialization of our current and future product candidates, and statements regarding our anticipated revenues, expenses, margins, profits and use of cash.
These forward-looking statements are based on our current expectations. These statements are not promises or guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results to be materially different from any future results expressed or implied by the forward-looking statements. These risks include, but are not limited to, the following: our limited operating history and expectations of losses for the foreseeable future; the absence of significant revenue from our product candidates for the foreseeable future; our potential inability to obtain any necessary additional financing; our substantial dependence on the success of our lead product candidates, which may not be successfully commercialized even if they are approved for marketing; the effect of competition; our potential inability to obtain regulatory approval for our existing or future product candidates; our dependence on third parties to conduct some of our development activities; our dependence upon third-party manufacturers for supplies of our product candidates; uncertainties regarding the outcomes of trials regarding our product candidates; our potential failure to attract and retain senior management and key scientific personnel; uncertainty about our ability to develop a satisfactory sales organization; our significant costs of operating as a public company; our potential inability to obtain patent protection and other intellectual property protection for our product candidates; potential claims by third parties alleging our infringement of their patents and other intellectual property rights; our potential failure to comply with regulatory requirements, which are subject to change on an ongoing basis; the potential volatility of our stock price; and the significant control over our business by our principal stockholders and management.
For a further description of these risks and other risks that we face, please see the risk factors described in our filings with the
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