Rocket Pharmaceuticals Q4 Loss Narrower Than Estimates, Pipeline in Focus

Rocket Pharmaceuticals RCKT incurred a loss of 62 cents per share in the fourth quarter of 2024, which was narrower than the Zacks Consensus Estimate of a loss of 71 cents. In the year-ago quarter, the company reported a loss of 64 cents per share.See the Zacks Earnings Calendar to stay ahead of market-making news.In the absence of any marketed product in its portfolio, Rocket Pharmaceuticals did not record any revenues in the fourth quarter.In the past year, shares of Rocket Pharmaceuticals have plunged 67.7% compared with the industry’s 9.3% decline. Image Source: Zacks Investment Research More on RCKT's Q4 ResultsIn the reported quarter, general and administrative expenses rose 17.7% year over year to $25.3 million. The increase was due to a rise in the company’s commercial preparation expenses, which included commercial strategy, medical affairs, legal and other expenses.Research and development expenses were $37.4 million, down 10.3% from the year-ago quarter’s figure. The downside was due to reduced manufacturing and development costs.As of Dec. 31, 2024, Rocket Pharmaceuticals had cash, cash equivalents and investments of $372.3 million compared with $235.7 million on Sept. 30, 2024. Management expects this cash balance to fund operations and meet capital expenditure requirements into the third quarter of 2026.RCKT's Full-Year ResultsFor 2024, the company posted a loss of $2.73 per share, which was narrower than a loss of $2.92 reported in the year-ago period.The company did not record any revenues in 2024.RCKT's Recent Pipeline UpdatesKresladi has been developed to treat patients with severe leukocyte adhesion deficiency-I (LAD-I), a rare genetic disorder. The FDA issued a complete response letter (“CRL”) to the biologics license application (“BLA”) seeking approval for Kresladi to treat LAD-I in June 2024.Per the CRL, the FDA sought "limited" additional information on the Chemistry Manufacturing and Controls (“CMC”), which is part of the BLA submission. The regulatory body is currently reviewing the limited additional CMC information for Kresladi.The company plans to file the complete BLA to resolve the CRL later in 2025.Rocket Pharmaceuticals has developed another gene therapy, RP-L102 for the treatment of Fanconi anemia (“FA”). The company recently initiated a rolling BLA for RP-L102 for treating FA. The candidate is also currently under review in the European Union for the same indication.Rocket Pharmaceuticals is developing adeno-associated virus (“AAV”) gene therapies to target genetic CV indications caused by mutations or defects in different genes.Dosing is currently underway in the phase II study evaluating its investigational gene therapy candidate, RP-A501, for treating male patients with Danon disease. Further update on the same is expected later in the first half of 2025.Another AAV-based gene therapy candidate is RP-A601, which is in phase I development for treating arrhythmogenic cardiomyopathy. The company has completed enrollment of patients in the low dose cohort of the study. Initial data from the same is expected in the first half of 2025.Rocket Pharmaceuticals, Inc. Price, Consensus and EPS Surprise  Rocket Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Rocket Pharmaceuticals, Inc. QuoteRCKT's Zacks Rank & Other Stocks to ConsiderRocket Pharmaceuticals currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks from the drug/biotech sector are Rigel Pharmaceuticals, Inc. RIGL, argenx SE ARGX and Pacira BioSciences, Inc. PCRX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.In the past 60 days, estimates for Rigel Pharmaceuticals’ earnings per share have increased from 92 cents to $1.28 for 2025. In the past year, shares of RIGL have risen 40.5%.RIGL earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 1,754.28%.In the past 60 days, estimates for argenx’s earnings per share have increased from $9.08 to $10.85 for 2025. In the past year, shares of ARGX have risen 57.1%.ARGX’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 339.37%.In the past 60 days, estimates for Pacira BioSciences’ earnings per share have increased from $2.79 to $3.59 for 2025. In the past year, shares of PCRX have decreased 15.2%.PCRX’s earnings beat estimates in two of the trailing four quarters, met the same once and missed on the remaining occasion, the average surprise being 7.13%.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rigel Pharmaceuticals, Inc. (RIGL): Free Stock Analysis Report Pacira BioSciences, Inc. (PCRX): Free Stock Analysis Report argenex SE (ARGX): Free Stock Analysis Report Rocket Pharmaceuticals, Inc. (RCKT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks