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Rocket Pharmaceuticals RCKT incurred a loss of 56 cents per share in the first quarter of 2025, narrower than the Zacks Consensus Estimate of a loss of 59 cents. The company reported a loss of 66 cents per share in the year-ago quarter.
In the absence of a marketed product in its portfolio, Rocket Pharmaceuticals did not record any revenues in the reported quarter. The Zacks Consensus Estimate for the company’s total revenues was $8 million. (See the Zacks Earnings Calendar to stay ahead of market-making news.)
More on RCKT's Q1 Results
In the reported quarter, general and administrative expenses rose 28% year over year to $28.4 million. The increase was due to a rise in RCKT’s commercial preparation and legal expenses.
Research and development expenses were $35.9 million, down 21% from the year-ago quarter’s figure due to reduced manufacturing and development costs.
As of March 31, 2025, Rocket Pharmaceuticals had cash, cash equivalents and investments of $318.2 million compared with $372.3 million as of Dec. 31, 2024. Management expects this cash balance to fund operations and meet capital expenditure requirements into the fourth quarter of 2026.
Year to date, RCKT shares have plunged 44% compared with the industry’s 8% decline.
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RCKT's Recent Pipeline Updates
Kresladi 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 treating Fanconi anemia (FA). The company has initiated a rolling BLA for RP-L102 to treat FA and anticipates completing the submission in late 2025/early 2026. 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 pivotal study evaluating its investigational gene therapy candidate, RP-A501, for treating male patients with Danon disease. Clinical data readout from the same is expected in mid-2026.