uniQure N.V. reported its financial results for the first quarter of 2025 on May 9, 2025, alongside updates on its clinical programs. The company's cash, cash equivalents, and current investment securities totaled $409.0 million as of March 31, 2025, an increase from $367.5 million at the end of 2024, primarily due to $80.5 million in net proceeds from a follow-on offering. This cash position is expected to fund operations into the second half of 2027.
For Q1 2025, revenue decreased to $1.6 million from $8.5 million in Q1 2024, mainly due to reduced collaboration and contract manufacturing revenue following the divestiture of the Lexington facility. However, the net loss for the quarter narrowed to $43.6 million, or $0.82 per share, an improvement from a $65.6 million net loss, or $1.36 per share, in Q1 2024. This was aided by a one-time $6.0 million gain from the sale of critical reagents.
Research and development expenses decreased to $36.1 million from $40.7 million in the prior year, driven by lower employee and facility costs, partially offset by increased external spending on AMT-130 BLA preparation. Selling, general, and administrative expenses also decreased to $10.9 million from $13.9 million, primarily due to reduced personnel costs.
A significant development for AMT-130 in Huntington's disease was the granting of Breakthrough Therapy designation by the FDA in April 2025. Initial safety data from the third cohort of the Phase I/II study showed AMT-130 continued to be generally well-tolerated, with no treatment-related serious adverse events. Type B FDA meetings were held in Q1 and Q2 2025 to advance BLA preparations, with a regulatory update expected in Q2 2025. Additionally, initial clinical data from the first patient treated with AMT-260 for refractory mesial temporal lobe epilepsy is scheduled for presentation on May 29, 2025.
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