uniQure Reports Q1 2025 Financial Results with Revenue Decline and Improved Net Loss

uniQure N.V. reported its financial results for the first quarter of 2025, revealing a significant decline in total revenues, which fell to $1.57 million from $8.49 million in the same period last year. The decrease was primarily attributed to the absence of contract manufacturing and collaboration revenues, which had contributed $3.99 million and $3.29 million, respectively, in the prior year. License revenues, however, increased slightly to $1.57 million from $1.20 million, reflecting ongoing royalty payments from CSL Behring related to the sales of HEMGENIX®.

The company's net loss for the quarter was $43.64 million, a notable improvement compared to a net loss of $65.62 million in Q1 2024. This reduction in losses was supported by a decrease in total operating expenses, which fell to $47.25 million from $63.86 million year-over-year. The decline in expenses was driven by lower research and development costs, which decreased to $36.14 million from $40.69 million, and reduced selling, general, and administrative expenses, which dropped to $10.91 million from $13.94 million.

In terms of strategic developments, uniQure successfully raised $80.67 million through a follow-on public offering in January 2025, which included the issuance of 4.4 million ordinary shares. This capital infusion is expected to support the company's ongoing research and development efforts, particularly for its gene therapy candidates targeting Huntington's disease, amyotrophic lateral sclerosis, and Fabry disease. The company also received Breakthrough Therapy designation from the FDA for its AMT-130 candidate for Huntington's disease, which is anticipated to expedite its development and review process.

Operationally, uniQure's cash and cash equivalents, along with investment securities, totaled $409 million as of March 31, 2025, an increase from $367.5 million at the end of 2024. The company reported a net cash used in operating activities of $44.1 million for the quarter, a decrease from $60.6 million in the same period last year. The improved cash flow was attributed to a combination of reduced operational expenses and increased other income, which included a one-time sale of critical reagents that generated $6 million.

Looking ahead, uniQure anticipates that its current cash resources will be sufficient to fund operations through the second half of 2027, contingent on the successful progression of its clinical programs and potential regulatory approvals. The company remains focused on advancing its pipeline of innovative gene therapies while managing its financial resources prudently to support ongoing and future development initiatives.