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Jun 30, 2021
Rocket Q2 2021 Earnings Report
Rocket Pharmaceuticals reported financial results for the second quarter of 2021 and provided updates on key pipeline developments.
Key Takeaways
Rocket Pharmaceuticals reported a net loss of $34.5 million for the second quarter of 2021. They have $426.8 million in cash, cash equivalents and investments as of June 30, 2021, which is expected to fund operations into the second half of 2023.
Working with FDA on changes to clinical trial protocol in Danon Disease trial; Rocket anticipates trial will resume in 3Q.
Observed increasing and durable benefit in low dose cohort (6.7e13 dose) in Danon Disease; Removing higher dose cohort (1.1e14 dose) from future dosing plans; full clinical update expected in 4Q.
Presented positive results from FA, LAD-I, PKD trials at ASGCT Annual Meeting showing preliminary evidence of activity and favorable tolerability.
Ending balance sheet with $426.8 Million in cash; Cash runway expected into 2H'23.
Forward Guidance
Rocket expects its balance in cash, cash equivalents and investments of $426.8 million as of June 30, 2021 to fund its operations into the second half of 2023, including the continued buildout and initiation of AAV cGMP manufacturing capabilities at our Cranbury, New Jersey R&D and manufacturing facility and continued development of our five clinical programs.
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