Hemab Therapeutics (NASDAQ:COAG – Get Free Report) released its earnings results on Tuesday. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.07), FiscalAI reports.
Here are the key takeaways from Hemab Therapeutics’ conference call:
- Hemab initiated SOLARA, its pivotal Phase III trial of sutacimig in Glanzmann thrombasthenia, with about 75 participants and a single-arm design comparing bleed rates before and during treatment. The FDA recommended considering a randomized trial; Hemab says it believes the chosen design is appropriate, but the agency’s feedback leaves regulatory uncertainty.
- Hemab highlighted Phase II extension results for sutacimig in Glanzmann, including fewer treated bleeds for 92% of participants who bled during run-in and a 62% reduction in mean high-intensity treated bleed rate. The company also reported three grade 2 thromboembolic events in higher-exposure cohorts and/or participants with multiple risk factors; it selected a lower weekly dose for SOLARA.
- HMB-002 showed proof of mechanism in von Willebrand disease, with peak increases of about 2.5-fold in von Willebrand factor and factor VIII and durability that may support monthly dosing. Hemab said eight of nine evaluable patients had no treated bleeds in the 28 days after dosing, but noted the early observations were descriptive and the study was not designed to measure efficacy.
- Sutacimig’s early Factor VII deficiency data showed a greater-than-50% shortening of prolonged prothrombin time in two participants, with exposure maintained through day 22; updated data are expected at ASH. Hemab also began a Phase I trial of HMB-003 and reported preclinical monkey data showing a shift toward less severe menstrual bleeding, with initial human data expected in mid-2027.
- Hemab reported $430.2 million in cash, equivalents and marketable securities at September 30, and expects its cash to fund operations into 2029. Quarterly R&D and G&A expenses rose year over year as clinical programs advanced and personnel costs increased.
Hemab Therapeutics Stock Performance
Shares of NASDAQ:COAG traded down $1.76 during mid-day trading on Tuesday, hitting $41.05. 132,649 shares of the company traded hands, compared to its average volume of 393,510. The stock has a market cap of $1.92 billion and a PE ratio of -1.66. Hemab Therapeutics has a 12-month low of $23.00 and a 12-month high of $55.42. The firm’s 50-day moving average price is $37.46.
Institutional Investors Weigh In On Hemab Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new position in shares of Hemab Therapeutics in the 2nd quarter worth about $19,226,000. Braidwell LP purchased a new stake in Hemab Therapeutics during the second quarter worth about $5,877,000. State Street Corp purchased a new stake in Hemab Therapeutics during the second quarter worth about $2,825,000. Opaleye Management Inc. purchased a new stake in Hemab Therapeutics during the second quarter worth about $1,750,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Hemab Therapeutics in the second quarter worth about $688,000.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on COAG. Rodman & Renshaw started coverage on shares of Hemab Therapeutics in a research note on Monday, October 12th. They issued a “buy” rating and a $56.00 price target on the stock. Lifesci Capital began coverage on shares of Hemab Therapeutics in a research report on Monday. They set an “outperform” rating and a $65.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Hemab Therapeutics in a research note on Thursday, October 15th. They issued an “overweight” rating and a $70.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings cut shares of Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.00.
Get Our Latest Report on Hemab Therapeutics
Hemab Therapeutics Company Profile
Hemab Therapeutics is a clinical-stage biotechnology company developing treatments for serious bleeding and thrombotic disorders, with a focus on conditions that have limited treatment options. Its research centers on therapies intended to help restore or regulate blood clotting.
The company’s lead candidate, HMB-001, is an investigational bispecific antibody being developed for Glanzmann thrombasthenia, a rare inherited bleeding disorder. Hemab is also advancing research into additional disorders affecting hemostasis, the process that helps the body control bleeding.
Hemab was founded in 2020 and operates in the United States and Denmark.
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