uniQure(US:QURE)2025-11-10 12:17Financial Performance - Total revenues for Q3 2025 were $3.701 million, a 62% increase from $2.287 million in Q3 2024[15] - License revenues increased to $3.582 million in Q3 2025 from $2.111 million in Q3 2024, representing a 70% growth[15] - Net loss for Q3 2025 was $80.529 million, compared to a net loss of $44.378 million in Q3 2024, reflecting an increase in losses of 81%[15] - Total revenue for the nine months ended September 30, 2025, was $10.5 million, down from $21.9 million in the same period in 2024, indicating a 52% decrease[91] - The company reported a net loss of $161.9 million for the nine months ended September 30, 2025, compared to a net loss of $166.3 million for the same period in 2024[167] Assets and Liabilities - Total assets as of September 30, 2025, were $888.382 million, up from $556.536 million as of December 31, 2024, indicating a 59% increase[13] - Total current liabilities increased to $100.632 million as of September 30, 2025, from $40.053 million at the end of 2024, a 151% rise[13] - Shareholders' equity increased to $228.746 million as of September 30, 2025, from a deficit of $6.752 million at the end of 2024[13] - The accumulated deficit as of September 30, 2025, was $1.29 billion, compared to $1.06 billion as of September 30, 2024, indicating an increase in the deficit of 21.8%[20] Cash Flow - Cash and cash equivalents rose significantly to $597.056 million as of September 30, 2025, compared to $158.930 million at the end of 2024, marking a 276% increase[13] - Cash used in operating activities for the nine months ended September 30, 2025, was $100.4 million, an improvement from $129.9 million in the same period of 2024[22] - The total cash, cash equivalents, and restricted cash at the end of the period was $598.5 million, up from $253.1 million at the end of September 2024, reflecting a significant increase of 135.1%[22] - The company generated $119.8 million in net cash from investing activities for the nine months ended September 30, 2025, compared to $189.6 million in 2024, indicating a decrease of 36.8%[22] Research and Development - Research and development expenses for the nine months ended September 30, 2025, were $105.889 million, slightly up from $104.942 million in the same period of 2024[15] - Direct research and development expenses for Huntington's disease (AMT-130) rose to $30.6 million in 2025 from $9.8 million in 2024, an increase of $20.8 million[177] - The pivotal Phase I/II study of AMT-130 for Huntington's disease demonstrated a statistically significant 75% slowing of disease progression as measured by cUHDRS[113] - AMT-130 received Breakthrough Therapy designation from the FDA in April 2025, indicating potential for meaningful improvement over existing therapies[115] Shareholder Information - The number of ordinary shares outstanding increased to 62,165,900 as of September 30, 2025, from 48,988,087 at the end of 2024[13] - The company raised $70.1 million through a follow-on public offering of 4.4 million ordinary shares at a price of $17.00 per share in January 2025[73] - In September 2025, the Company received net proceeds of $323.7 million from a follow-on public offering of 6.7 million ordinary shares at a price of $47.50 per share[76] - The company has authorized an additional 2,400,000 shares for issuance under the 2014 Share Incentive Plan as of June 2025[78] Financing Activities - The Company received an upfront payment of $375.0 million from the Royalty Financing Agreement with HemB SPV, L.P., in exchange for rights to certain royalties[67] - The net proceeds from the Royalty Financing Agreement were recorded as $370.1 million, with an effective interest rate expected to be between 10.5% and 12.0% per annum as of September 30, 2025[71] - The company entered into a $175.0 million senior secured term loan facility with Hercules Capital, with a floating interest rate of 9.70% as of September 30, 2025[118] Expenses - Total operating expenses for Q3 2025 were $54.2 million, an increase of 25.5% from $43.2 million in Q3 2024[142] - Selling, general and administrative expenses for the three months ended September 30, 2025, were $19.4 million, an increase from $11.6 million in the same period in 2024[156] - Personnel-related accruals increased to $26.5 million as of September 30, 2025, compared to $12.3 million on December 31, 2024[57] Taxation - The effective income tax rate for the three months ended September 30, 2025, was 12.0%, significantly lower than the enacted rate of 25.8% in the Netherlands[96] - The company recorded a current tax expense of $7.5 million related to Dutch operations for the three months ended September 30, 2025[99]