Rocket Pharmaceuticals Q4 Loss Narrower Than Estimates, Pipeline in Focus

Core Viewpoint - Rocket Pharmaceuticals reported a narrower loss per share in Q4 2024 compared to estimates, but did not generate any revenue due to the absence of marketed products in its portfolio [1][2][7]. Financial Performance - In Q4 2024, Rocket Pharmaceuticals incurred a loss of $0.62 per share, which was better than the Zacks Consensus Estimate of a loss of$0.71 per share and a loss of $0.64 per share in the same quarter last year [1]. - For the full year 2024, the company reported a loss of$2.73 per share, an improvement from a loss of $2.92 in 2023 [7]. - The company did not record any revenues in both Q4 2024 and the full year 2024 [2][7]. Expenses - General and administrative expenses increased by 17.7$25.3 million, attributed to higher commercial preparation expenses [3]. - Research and development expenses were $37.4 million, down 10.3$372.3 million, up from $235.7 million on September 30, 2024 [4]. - Management anticipates that this cash balance will support operations and capital expenditures through the third quarter of 2026 [4]. Pipeline Developments - The company is developing Kresladi for treating severe leukocyte adhesion deficiency-I (LAD-I), but received a complete response letter from the FDA in June 2024, requesting additional information [8][9]. - Rocket Pharmaceuticals has initiated a rolling biologics license application (BLA) for RP-L102, aimed at treating Fanconi anemia, which is also under review in the EU [10]. - Dosing is ongoing in a phase II study for RP-A501, targeting Danon disease, with updates expected in the first half of 2025 [11]. - RP-A601, another AAV-based gene therapy candidate, is in phase I development for arrhythmogenic cardiomyopathy, with initial data anticipated in the first half of 2025 [12].