UNIQURE N.V. ~ Data from largest gene therapy study in hemophilia B showed sustained therapeutic effect at 18-months and statistical superiority in reducing annualized bleeding rate compared to baseline FIX prophylactic therapy; Submissions of marketing applications on track for the first half of 2022 ~
~ Data from first four patients in ongoing
~ Additional clinical data from all patients in lower dose cohort of
~ Initiated enrollment of European Phase Ib/II study of AMT-130 with first two patients dosed ~
~ Refractory temporal lobe epilepsy and Fabry programs advancing into IND-enabling studies in 2022 ~
~ Ended 2021 in strong financial position with
“We made tremendous progress in 2021 across all our strategic imperatives, including advancing our clinical-stage programs, expanding our research pipeline, and preparing for the submission of marketing applications planned for etranacogene dezaparvovec during the first half of 2022,” stated
“During 2022, we are also keenly focused on maintaining our strong momentum in enrolling two ongoing Phase I/II studies in Huntington’s disease. Importantly, we look forward to sharing additional safety and biomarker data from all ten patients in the lower dose cohort, including mutant HTT protein (mHTT) and neurofilament light chain (NfL), during the second quarter of 2022,” he added. “We also are poised to advance our gene therapy product candidates for Fabry disease and refractory temporal lobe epilepsy into IND-enabling toxicology studies, and we expect to initiate at least two new gene therapy programs targeting the liver and CNS during the year. As we continue to advance and grow our pipeline, we are also expanding our manufacturing footprint with a second cGMP facility in
Recent Key Accomplishments
- Advancing the late-stage development of etranacogene dezaparvovec (AMT-061) for the treatment of hemophilia B
- In
December 2021 , the Company andCSL Behring announced the achievement of primary and secondary endpoints from the HOPE-B pivotal trial of etranacogene dezaparvovec in severe and moderately severe hemophilia B patients. The primary endpoint of non-inferiority in annualized bleeding rate (ABR) 18-months following administration compared to baseline Factor IX (FIX) prophylactic therapy was achieved, as was a secondary superiority endpoint on ABR. - Data from the HOPE-B trial demonstrated that etranacogene dezaparvovec produced mean FIX activity of 39.0 percent of normal at six months and 36.9 percent of normal at 18 months post infusion. After the six-month lead-in period post-infusion, the adjusted annualized bleeding rate (ABR) (1.51) for all bleeds was reduced by 64 percent (p=0.0002) and all FIX-treated bleeds was reduced by 77 percent (3.65 to 0.83; p<0.0001) over months seven to 18. In addition, 98 percent of subjects treated with a full dose of etranacogene dezaparvovec discontinued use of prophylaxis, with an overall 97 percent reduction in mean unadjusted annualized FIX consumption of 257,338.8 IU/yr/participant to 8,486.6 IU/yr/participant (from lead-in period to months 13-18). ABR for all bleeds after stable FIX expression, assessed at 18 months, was 1.51 compared with the ABR of 4.19 for the lead-in period of at least six months (p=0.0002). ABR for investigator-adjudicated FIX-treated bleeds was 0.83 compared with lead-in ABR of 3.65 (p<0.0001).
- The Company and
CSL Behring are making significant progress on the preparation of marketing applications for etranacogene dezaparvovec, which are expected to be submitted byCSL Behring in theU.S. and theEuropean Union during the first half of 2022. As part of these efforts, the Company successfully competed validation of its commercial manufacturing process inDecember 2021 .
- In
- Advancing the clinical development of AMT-130 for the treatment of Huntington’s disease
- In
December 2021 , initial observations were announced on the first four patients in the low-dose cohort of the double-blinded and randomizedU.S. Phase I/II study of AMT-130. AMT-130 was generally well tolerated with no serious adverse events related to AMT-130. NfL increased as expected immediately following the AMT-130 surgical procedure and returned to baseline in the two treated patients. NfL remained relatively constant in the two untreated control patients. Structural magnetic resonance imaging did not reveal any clinically meaningful safety findings in either treated or control patients at one year of follow-up. - During the second quarter of 2022, the Company expects to provide a clinical update on all 10 patients in the lower dose cohort, including safety, mHTT and NfL biomarker data. Volumetric MRI and functional data is expected to be available during the first half of 2023, after all patients in the two dose cohorts are unblinded.
- Patient enrollment in a third cohort is expected to begin in the second half of 2022 to explore the use of alternative stereotactic navigation systems to simplify placement of catheters for infusions of AMT-130. This cohort is planned to include up to 18 additional randomized patients, approximately 12 of whom will receive the higher dose of 6x1013 vg.
- In
February 2022 , the first two patients were enrolled in a European open-label Phase Ib/II study of AMT-130. This study will enroll 15 patients with early manifest Huntington’s disease across the same doses being explored in theU.S study. Together with the ongoingU.S. study, the European study is intended to establish safety, proof of concept, and the optimal dose of AMT-130 to take forward into Phase III development, or into a confirmatory study should an accelerated registration pathway be feasible. - In total, 59 patients are expected to be enrolled in the
U.S. and European Phase 1/II trials of AMT-130.
- In
- Advancing our research pipeline into the clinic
- Refractory Temporal Lobe Epilepsy (TLE) - The Company expects to initiate a GLP toxicology study in non-human primates in the second half of 2022, which is expected to support an IND submission in 2023. AMT-260 employs a miRNA silencing technology to suppress aberrantly expressed kainite receptors in the hippocampus of patients with TLE. TLE represents a large unmet clinical need affecting approximately 1.3 million people in the
U.S. andEurope alone, of which approximately 800,000 patients are unable to adequately control acute seizures with currently approved anti-epileptic therapies. - Fabry disease – The Company expects to initiate a GLP toxicology study of AMT-191 by the middle of 2022, which is expected to support an IND submission in 2023. AMT-191 is a one-time administered AAV5 gene therapy incorporating an α-galactosidase A (GLA) transgene. In preclinical studies, AMT-191 has shown the potential for cross correction in the kidney and heart, and potentially into the brain. It also offers the possibility for re-dosing as shown in a study of non-human primates.
- With the goal of prioritizing resources and accelerating the advancement of our programs in refractory TLE and Fabry disease into the clinic, the Company has deprioritized the preclinical development of AMT-150 in spinocerebellar ataxia type 3.
- Refractory Temporal Lobe Epilepsy (TLE) - The Company expects to initiate a GLP toxicology study in non-human primates in the second half of 2022, which is expected to support an IND submission in 2023. AMT-260 employs a miRNA silencing technology to suppress aberrantly expressed kainite receptors in the hippocampus of patients with TLE. TLE represents a large unmet clinical need affecting approximately 1.3 million people in the
- Expanding our manufacturing capabilities
- The Company recently completed the expansion of its
Amsterdam facility providing additional laboratories for new research and development activities, as well as the construction of a cleanroom designed for the manufacturing of cGMP materials at a 500-liter scale. This expansion now allows for increased speed and agility across product development.
- The Company recently completed the expansion of its
- Strong cash position to advance the Company’s programs
- As of
December 31, 2021 , the Company had cash and cash equivalents of$556.3 million . The Company expects that its cash and cash equivalents will be sufficient to fund operations into the first half of 2025 assuming achievement of the BLA and MAA submission as well as first commercial sales milestones under the CSL Behring Agreement.
- As of
Upcoming Investor Events (each to be conducted virtually)
- Cowen 42nd Annual
Health Care Conference ,March 7-9, 2022 - Stifel 2022 CNS Days,
March 28-29, 2022 - Guggenheim Genomic Medicines and Rare Disease Day,
March 31 &April 1, 2022
Financial Highlights
Cash Position: As of
Revenues: Revenue for the year ended
R&D Expenses: Research and development expenses were
SG&A Expenses: Selling, general and administrative expenses were
Other Income, net: Other income, net was
Other Non-operating Items, net:
Other non-operating income, net was income of
Net Income:
The net income for the year ended
About uniQure
uniQure is delivering on the promise of gene therapy – single treatments with potentially curative results. We are leveraging our modular and validated technology platform to rapidly advance a pipeline of proprietary gene therapies to treat patients with hemophilia B,
uniQure Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "look forward to", "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions. Forward-looking statements are based on management's beliefs and assumptions and on information available to management only as of the date of this press release. These forward-looking statements include, but re not limited to, whether we will bring etranacogene dezaparvovec to patients, whether we will share mutant HTT protein (mHTT) and neurofilament light chain (NfL) or other safety and biomarker data from any patients in our AMT-130 clinical trials, during the second quarter of 2022, the first half of 2023 or ever, whether we will be able to advance our gene therapy product candidates for Fabry disease or refractory temporal lobe epilepsy into IND-enabling toxicology studies, whether we will initiate any new gene therapy programs targeting the liver or CNS during the year, whether our second cGMP facility in
| uniQure Contacts: | ||
| FOR INVESTORS: | FOR MEDIA: | |
| Direct: 339-970-7536 | Direct: 617-306-9137 | Direct: 339-970-7558 |
| Mobile: 617-680-9452 | Mobile: 617-306-9137 | Mobile: 339-223-8541 |
| m.cantor@uniQure.com | c.russo@uniQure.com | t.malone@uniQure.com |
uniQure N.V.
UNAUDITED CONSOLIDATED BALANCE SHEETS
| 2021 | 2020 | |||||
| (in thousands, except share and per share amounts) | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 556,256 | $ | 244,932 | ||
| Accounts receivable and contract asset | 58,768 | 6,618 | ||||
| Prepaid expenses | 10,540 | 4,337 | ||||
| Other current assets and receivables | 2,675 | 3,024 | ||||
| Total current assets | 628,239 | 258,911 | ||||
| Non-current assets | ||||||
| Property, plant and equipment, net | 43,505 | 32,328 | ||||
| Operating lease right-of-use assets | 25,573 | 26,086 | ||||
| Intangible assets, net | 62,686 | 3,361 | ||||
| 27,633 | 542 | |||||
| Deferred tax assets, net | 15,647 | 16,419 | ||||
| Other non-current assets | 5,897 | 2,748 | ||||
| Total non-current assets | 180,941 | 81,484 | ||||
| Total assets | $ | 809,180 | $ | 340,395 | ||
| Current liabilities | ||||||
| Accounts payable | $ | 2,502 | $ | 3,772 | ||
| Accrued expenses and other current liabilities | 28,487 | 18,038 | ||||
| Current portion of operating lease liabilities | 5,774 | 5,524 | ||||
| Total current liabilities | 36,763 | 27,334 | ||||
| Non-current liabilities | ||||||
| Long-term debt | 100,963 | 35,617 | ||||
| Operating lease liabilities, net of current portion | 28,987 | 30,403 | ||||
| Contingent consideration | 29,542 | - | ||||
| Deferred tax liability, net | 12,913 | - | ||||
| Other non-current liabilities | 4,236 | 3,136 | ||||
| Total non-current liabilities | 176,641 | 69,156 | ||||
| Total liabilities | 213,404 | 96,490 | ||||
| Shareholders' equity | ||||||
| Total shareholders' equity | 595,776 | 243,905 | ||||
| Total liabilities and shareholders' equity | $ | 809,180 | $ | 340,395 | ||
uniQure N.V.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
| Years ended | |||||||||
| 2021 | 2020 | 2019 | |||||||
| (in thousands, except share and per share amounts) | |||||||||
| Total revenues | $ | 524,002 | $ | 37,514 | $ | 7,281 | |||
| Operating expenses: | |||||||||
| Cost of contract revenues | (24,976) | - | - | ||||||
| Research and development expenses | (143,548) | (122,400) | (94,737) | ||||||
| Selling, general and administrative expenses | (56,290) | (42,580) | (33,544) | ||||||
| Total operating expenses | (224,814) | (164,980) | (128,281) | ||||||
| Other income | 12,306 | 3,342 | 1,888 | ||||||
| Other expense | (876) | (1,302) | (2,028) | ||||||
| Income / (loss) from operations | 310,618 | (125,426) | (121,140) | ||||||
| Non-operating items, net | 22,188 | (16,017) | (3,061) | ||||||
| Income / (loss) before income tax (expense) / income | $ | 332,806 | $ | (141,443) | $ | (124,201) | |||
| Income tax (expense) / income | (3,217) | 16,419 | - | ||||||
| Net income / (loss) | $ | 329,589 | $ | (125,024) | $ | (124,201) | |||
| Earnings per ordinary share - basic | |||||||||
| Basic net income / (loss) per ordinary share | $ | 7.17 | $ | (2.81) | $ | (3.11) | |||
| Earnings per ordinary share - diluted | |||||||||
| Diluted net income / (loss) per ordinary share | $ | 7.04 | $ | (2.81) | $ | (3.11) | |||
| Weighted average shares - basic | 45,986,467 | 44,466,365 | 39,999,450 | ||||||
| Weighted average shares - diluted | 46,840,972 | 44,466,365 | 39,999,450 | ||||||
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