R&D expenses: Research and development expenses were $30.6 million for the three months ended September 30, 2024, compared to $65.4 million during the same period in 2023. The $34.8 million decrease was related to a decrease of $14.6 million related to changes in the fair value of contingent consideration, a $13.7 million decrease in employee-related expenses, partially offset by an increase of $3.4 million severance costs related to the reorganization announced in August 2024, a net decrease of $4.9 million in external program spend and a $3.7 million decrease in costs incurred related to preclinical supplies.
SG&A expenses: Selling, general and administrative expenses were $11.6 million for the three months ended September 30, 2024, compared to $18.1 million during the same period in 2023. The $6.5 million decrease was primarily related to a $4.0 million decrease in employee-related expenses, partially offset by an increase of $0.7 million severance costs related to the reorganization announced in August 2024, and a $1.3 million decrease in professional fees compared to the prior year period.
Other income: Other income was $2.6 million for the three months ended September 30, 2024, compared to $1.4 million during the same period in 2023. The increase was primarily related to the $1.2 million gain recorded on divesting the Lexington manufacturing facility.
Other expense: Other expense was $1.9 million for the three months ended September 30, 2024, compared to $0.2 million during the same period in 2023. The increase was primarily related to $1.5 million of non-cash expense recognized to amortize the right to purchase HEMGENIX® from Genezen on favorable terms.
Other non-operating items, net: Other non-operating items, net was an expense of $4.2 million for the three months ended September 30, 2024, compared to $7.8 million for the same period in 2023. The $3.6 million decrease in other non-operating items, net was primarily related to an increase in net foreign currency gains of $7.4 million, which was partially offset by a decrease of $2.6 million in interest income earned on investment securities and an increase in non-cash interest expense of $1.2 million related to the royalty agreement that the Company entered into in May 2023.
Net loss: The net loss for the three months ending September 30, 2024, was $44.4 million, or $0.91 basic and diluted loss per ordinary share, compared to $89.6 million net loss for the same period in 2023, or $1.88 basic and diluted loss per ordinary share.
About uniQure
uniQure is delivering on the promise of gene therapy – single treatments with potentially curative results. The approvals of uniQure’s gene therapy for hemophilia B – an historic achievement based on more than a decade of research and clinical development – represent a major milestone in the field of genomic medicine and ushers in a new treatment approach for patients living with hemophilia. uniQure is now advancing a pipeline of proprietary gene therapies for the treatment of patients with Huntington’s disease, refractory temporal lobe epilepsy, ALS, Fabry disease, and other severe diseases. www.uniQure.com
uniQure Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as “anticipate,” “believe,” “could,” “establish,” “estimate,” “expect,” “goal,” “intend,” “look forward to”, “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would” and similar expressions. Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release. Examples of these forward-looking statements include, but are not limited to, statements concerning the Company’s cash runway and its ability to fund its operations through the end of 2027 and multiple milestones with the potential to generate shareholder value; the Company’s expectations regarding its