Analysts have a consensus target price of $17.25 in the 12-month period. The price objective is 119.75% higher than the recent closing price of $7.85. The 52-week price range is $5.87-$15.55 and the company has a market capitalization of $196.41 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 1 has assigned a hold rating, 0 says it’s a buy, and 4 have assigned a strong buy rating to the company.
Dimension Therapeutics Inc (DMTX) on March 24, 2016 reported financial results for the full year ended December 31, 2015 and provided an update on the company’s recent corporate progress.
“2015 was a remarkable year for Dimension, during which we initiated our first clinical trial for our lead candidate for hemophilia B and further progressed key inherited metabolic disease programs in our product pipeline,” said Annalisa Jenkins, MBBS, MRCP, Chief Executive Officer of Dimension. “In the second half of this year, we expect to submit investigational new drug (IND) applications for the most advanced AAV gene therapies for the treatment of ornithine transcarbamylase (OTC) deficiency and GSDIa. We are proud to be translating leading science into potential new options for patients who are living everyday with the devastating consequences of their genetic disease.”
Full Year 2015 Financial Results
Cash Position: Cash and cash equivalents as of December 31, 2015 were $127.0 million, compared with $17.9 million on December 31, 2014. Cash and cash equivalents as of December 31, 2015 included total net proceeds of $64.6 million from the company’s initial public offering of common stock in October 2015 and the underwriters’ exercise of their over-allotment option in November 2015. Based on its current operating plan to fund seven programs, the company expects its existing cash and cash equivalents, payments received in connection with its collaboration agreement with Bayer and borrowing capacity under its loan and security agreement with Silicon Valley Bank will enable it to fund its operating expenses and capital expenditure requirements through Q4 2017.
Revenue: For the year ended December 31, 2015, Dimension recognized $7.8 million of revenue associated with our collaboration agreement with Bayer, compared to $2.8 million for the same period in 2014.
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