Sienna Biopharmaceuticals Reports First Quarter 2019 Financial Results
-- Company Completed Positive End-of-Phase 2 Meeting with
“We are pleased to report the results of our first quarter,” said
Selected Financial Results
Total operating expenses for the three months ended
Cash burn during the three months ended
For more information, visit the Company’s website at www.SiennaBio.com.
This press release contains forward-looking statements, including but not limited to statements by Sienna’s Chief Executive Officer regarding the progress and timing of Sienna’s SNA-120 development, including anticipated enrollment in the Phase 3 program for SNA-120. Such forward-looking statements involve substantial risks and uncertainties that could cause Sienna’s clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the pharmaceutical drug and medical device development processes, including regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing pharmaceutical drug and medical device products, Sienna’s ability to successfully protect and defend its intellectual property, and other matters that could affect the sufficiency of existing cash to fund operations and the availability or commercial potential of Sienna’s drug candidates. Sienna undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see Sienna’s most recent Annual Report on Form 10-K and any subsequent current and periodic reports filed with the
|Sienna Biopharmaceuticals, Inc.
|Condensed Consolidated Statements of Operations
|(in thousands, except per share data)
|Three Months Ended
|Research and development||$||7,093||$||12,980|
|General and administrative||8,746||5,497|
|Total operating expenses||15,839||18,477|
|Loss from operations||(15,839||)||(18,477||)|
|Other income (expense), net||(543||)||1,374|
|Per share information:|
|Net loss, basic and diluted1||$||(0.67||)||$||(0.85||)|
|Basic and diluted weighted average shares outstanding2||24,606||20,228|
1 Diluted net loss per share is the same as basic net loss per share, as the effects of potentially dilutive securities are antidilutive during periods of net loss.
2 As of
|Sienna Biopharmaceuticals, Inc.|
|Selected Consolidated Balance Sheet Data|
|March 31, 2019||December 31, 2018|
|Cash and cash equivalents||$||57,169||$||48,526|
|Total current assets||58,669||50,412|
|Total current liabilities||22,453||24,349|
|Long-term debt, net||29,237||30,125|
|Total stockholders’ equity||33,286||26,581|
Source: Sienna Biopharmaceuticals, Inc.