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uniQure Announces Third Quarter 2022 Financial Results and Highlights Recent Company Progress ~ Patient enrollment at the higher dose of AMT-130 to resume in European Phase Ib/II study following Data Safety Monitoring Bo

Key Takeaway: Announces Third Quarter 2022 Financial Results Highlights Recent Company Progress Patient enrollment at the higher dose of AMT-130 to resume in European Phase Ib/II study following Data Safety Monitoring Board recommendation and European pre-approval inspections of Company's

Full Press Release Details

Announces Third Quarter 2022 Financial Results
Highlights Recent Company Progress
Patient enrollment at the higher dose of AMT-130 to resume in European Phase Ib/II study following
Data Safety Monitoring Board recommendation
and European pre-approval inspections of Company's Lexington, MA manufacturing site completed with
EMA issuing Good Manufacturing
Virtual investor event focused on next pipeline program, AMT-260 investigational gene therapy for
refractory temporal lobe epilepsy,
to be held on Tuesday, November 29, 2022 ~
MA and Amsterdam, the Netherlands, November 2, 2022 - uniQure N.V. (NASDAQ: QURE), a leading gene therapy company advancing
transformative therapies for patients with severe medical needs, today reported its financial results for the third quarter of 2022 and
highlighted recent progress across its business.
are pleased that following a comprehensive review of all available safety, biomarker and imaging data, the Data Safety Monitoring Board
(DSMB) has recommended that we resume patient enrollment at the higher dose in the ongoing Phase Ib/II study evaluating AMT-130 in Huntington's
disease, " stated Matt Kapusta, chief executive officer of uniQure. "Patient safety will always be our utmost priority,
and we are grateful for the close collaboration between our clinical team, study investigators and most importantly, the patients, all
of whom were instrumental in completing our comprehensive investigations. We believe that AMT-130 has the potential to provide a positive
impact for patients with this devastating disease for which there is no currently approved treatment. We look forward to finishing patient
enrollment in the higher-dose cohort of the European study in the first half of 2023 and remain on track to announce data from the U.S.
Phase I/II study in the second quarter of 2023."
the third quarter, the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) completed site inspections of
our Lexington, Massachusetts gene therapy manufacturing facility, and we have since received good manufacturing practice (GMP) certification
from the European authorities. This is an important milestone as we seek to establish industry-leading commercial gene therapy manufacturing
capabilities. Our partner, CSL Behring, continues to interact with U.S. and European health authorities as they complete their review
of the marketing applications for etranacogene dezaparvovec and, assuming approval, we look forward to partnering with our colleagues
at CSL Behring to bring this potentially transformational treatment option to people living with hemophilia B."
position: As of September 30, 2022, the Company held cash and cash equivalents of $440.3 million, compared to $556.3 million as of
Collaboration revenue for the three months ended September 30, 2022, was $1.4 million, compared to collaboration revenue of $2.0
million for the same period in 2021.
of contract manufacturing: Cost of contract manufacturing for the three months ended September 30, 2022, was $0.9 million compared
to nil for the same period in 2021. Costs incurred in 2022 related to the manufacture of etranacogene dezaparvovec for CSL Behring.
expenses: Research and development expenses were $48.1 million for the three months ended September 30, 2022, compared to $36.4 million
during the same period in 2021. The increase was primarily related to an increase in the fair value of contingent consideration associated
with the acquisition of Corlieve Therapeutics SAS, the preclinical development of temporal lobe epilepsy (AMT-260), an increase in facility-related
expenses and an increase in disposable costs.
expenses: Selling, general and administrative expenses were $13.3 million for the three months ended September 30, 2022, compared
to $12.0 million during the same period in 2021. The increase was primarily related to the recruitment of personnel and contractor-related
non-operating items, net:
non-operating income, net was income of $11.3 million for the three months ended September 30, 2022, compared to other non-operating
income, net of $8.6 million for the same period in 2021. The increase in other non-operating income, net was primarily related to an
increase in net foreign currency gains of $3.9 million partially offset by an increase in interest expense related to the long-term debt
with Hercules Capital, Inc.
net loss for the three months ended September 30, 2022, was $47.9 million, or $1.02 basic and diluted loss per ordinary share, compared
to $36.5 million net loss for the same period in 2021, or $0.79 basic and diluted loss per ordinary share.
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, Huntington's disease, refractory temporal lobe epilepsy, Fabry disease, and other diseases. www.uniQure.com
Forward-Looking Statements
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," "establish," "estimate,"
"expect," "goal," "intend," "look forward to", "may," "plan," "potential,"
"predict," "project," "seek," "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 are not limited to, whether we will announce data from the
U.S. Phase I/II study in the second quarter of 2023, whether we are able to bring AMT-061 to people living with hemophilia B and whether
the treatment will be transformational, whether we will resume patient dosing in the open-label European study [in the fourth quarter
of 2022] or complete enrollment in the first half of 2023, whether we will announce one to two-years of follow up data from the U.S.
Phase I/II study in the second quarter of 2023, whether we will file an IND in 2023 for our rTLE program or for our Fabry program. The
Company's actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including,
without limitation, risks associated with the impact of the postponement in our clinical trial for Huntington's disease, the impact
of financial and geopolitical events on our Company and the wider economy and health care system, our Commercialization and License Agreement
with CSL Behring, our clinical development activities, clinical results, collaboration arrangements, regulatory oversight, product commercialization
and intellectual property claims, as well as the risks, uncertainties and other factors described under the heading "Risk Factors"
in the Company's periodic securities filings, including its Annual Report on Form 10-K filed February 25, 2022. Given these risks,
uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no
obligation to update these forward-looking statements, even if new information becomes available in the future.
FOR INVESTORS: FOR MEDIA:
Maria E. Cantor Chiara Russo Tom Malone
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
CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2022 2021
(in thousands, except share and per share amounts)
Current assets
Cash and cash equivalents $ 440,313 $ 556,256
Accounts receivable and contract asset 3,603 58,768
Inventories 4,075 -
Prepaid expenses 13,692 10,540
Other current assets and receivables 2,894 2,675
Total current assets 464,577 628,239
Non-current assets
Property, plant and equipment, net 47,886 43,505
Operating lease right-of-use assets 27,804 25,573
Intangible assets, net 53,837 62,686
Goodwill 23,418 27,633
Deferred tax assets, net 14,627 15,647
Other non-current assets 6,085 5,897
Total non-current assets 173,657 180,941
Total assets $ 638,234 $ 809,180
Current liabilities
Accounts payable $ 7,566 $ 2,502
Accrued expenses and other current liabilities 26,437 28,487
Current portion of contingent consideration 23,537 -
Current portion of operating lease liabilities 6,434 5,774
Total current liabilities 63,974 36,763
Non-current liabilities
Long-term debt 102,394 100,963
Operating lease liabilities, net of current portion 29,893 28,987
Contingent consideration, net of current portion 9,158 29,542
Deferred tax liability, net 8,592 12,913
Other non-current liabilities 3,053 4,236
Total non-current liabilities 153,090 176,641
Total liabilities 217,064 213,404
Shareholders' equity
Total shareholders' equity 421,170 595,776
Total liabilities and shareholders' equity $ 638,234 $ 809,180
CONSOLIDATED STATEMENTS OF OPERATIONS
Three months ended September 30,
2022 2021
(in thousands, except share and per share amounts)
Total revenues $ 1,449 $ 1,989
Operating expenses:
Cost of contract revenues - -
Cost of contract manufacturing (861 )
Research and development expenses (48,068 ) (36,432 )
Selling, general and administrative expenses (13,324 ) (12,023 )
Total operating expenses (62,253 ) (48,455 )
Other income 1,485 1,680
Other expense (199 ) (214 )
Loss from operations (59,518 ) (45,000 )
Non-operating items, net 11,332 8,558
Loss before income tax benefit / (expense) $ (48,186 ) $ (36,442 )
Income tax benefit / (expense) 329 (89 )
Net loss $ (47,857 ) $ (36,531 )
Earnings per ordinary share - basic
Basic net (loss) per ordinary share $ (1.02 ) $ (0.79 )
Earnings per ordinary share - diluted
Diluted net (loss) per ordinary share $ (1.02 ) $ (0.79 )
Weighted average shares - basic 46,772,430 46,152,404
Weighted average shares - diluted 46,772,430 46,152,404
Last updated: Nov 2, 2022