Immune Design (IMDZ) Up 22.6% Since Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Immune Design Corp. IMDZ. Shares have added about 22.6% in that time frame, outperforming the market.
Will the recent positive trend continue leading up to the stock's next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Immune Design Posts Narrower-than-Expected Loss in Q1
Immune Design reported first-quarter 2017 loss of $0.50 per share, narrower than the Zacks Consensus Estimate of a loss of 0.62 and also a year-ago loss of $0.61.
Quarter in Detail
Immune Design’s total revenue for the first quarter was $5.5 million, up from $1.9 million in the year ago quarter. The increase was primarily due to $5.2 million collaboration revenues received from partner Sanofi for G103 (HSV2 therapeutic vaccine). The top line also benefited from product sales of $0.3 million to other third parties. Quarterly revenues were above the Zacks Consensus Estimate of $2 million as well.
Research and development (R&D) expenses were up 32.8% to $14 million in the quarter primarily due to the company’s progress with the ongoing R&D programs. General and administrative expenses also increased 5.6% to $4.1 million.
Pipeline Update
Immune Design is developing multiple candidates using its two discovery platforms – ZVex and GLAAS – in the field of immuno-oncology. Its key pipeline candidates are CMB305 and G100. Presently, CMB305 is being evaluated in soft tissue sarcoma (STS) patients both as monotherapy and in combination with an anti-PD-L1 antibody. Meanwhile, the company completed enrolment by the end of the first quarter in the phase II study comparing CMB305 plus Roche Holding AG’s Tecentriq with Tecentriq alone.
Furthermore, G100, which is developed on the GLAAS platform, is being evaluated in an ongoing phase I dose escalation and in a randomized phase II study in patients with low grade follicular non-Hodgkin lymphoma (FL). Moving ahead, the data from the phase I dose escalation monotherapy study will be presented at ASCO in 2017. Notably, the company completed patient enrolment in the phase II study comparing G100 and low dose radiation (XRT) versus G100 and XRT with the systemic administration of Keytruda. Additionally, the FDA recently granted Orphan Drug Designation for G100 for the treatment of FL .
2017 Outlook
Immune Design continues to anticipate cash to fund operations into the second half of 2018.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates flatlined during the past month. There has been one revision higher for the current quarter compared to one lower.
Immune Design Corp. Price and Consensus
Immune Design Corp. Price and Consensus | Immune Design Corp. Quote
VGM Scores
At this time, Immune Design's stock has a subpar Growth Score of 'D', however its Momentum is doing a lot better with an 'A'. The stock was allocated a grade of 'F' on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of 'F'. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for momentum investors based on our style scores.
Outlook
Notably, the stock has a Zacks Rank #3 (Hold). We expect in-line returns from the stock in the next few months.
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