GBT Reports Recent Business Progress and First Quarter 2018 Financial Results

Global Blood Therapeutics (NASDAQ:GBT) today reported recent business progress and financial results for the first quarter ended March 31, 2018.

As quoted in the press release:

Net loss for the three months ended March 31, 2018, was $41.6 million compared with $23.3 million for the same period in 2017. Basic and diluted net loss per share for the three months ended March 31, 2018, was $0.87 compared with $0.60 for the same period in 2017.

Research and development (R&D) expenses for the three months ended March 31, 2018, were $29.9 million compared with $17.3 million for the same period in 2017. The increase in R&D expenses is primarily attributable to increased expenses for the Phase 2a HOPE-KIDS 1 Study and the Phase 3 HOPE Study, including increased expenses related to a higher level of manufacturing activities to support these studies.  Total R&D stock-based compensation expense incurred for the three months ended March 31, 2018, was $3.0 million, compared with $1.1 million for the same period in 2017.

Click here to read the full press release.