ProQR Announces Results For The Third Quarter Of 2016

LEIDEN, the Netherlands, Nov. 14, 2016 (GLOBE NEWSWIRE) -- ProQR Therapeutics N.V. (Nasdaq:PRQR), a company dedicated to changing lives through the creation of transformative RNA medicines for the treatment of severe orphan diseases such as cystic fibrosis (CF) and Leber's congenital amaurosis Type 10 (LCA10), today announced results for the third quarter of 2016.

"This quarter we completed our QR-010 nasal potential difference study and in October, we reported positive results from this study in homozygous ¿F508 patients. The outcomes were both statistically significant and clinically meaningful, marking an important step for about half of the global CF population." said Daniel de Boer, Chief Executive Officer of ProQR "I'm proud of the team that has designed and executed this study in the most rigorous way leading to robust clinical proof of concept in the early phase of our development program. I also want to thank the patients that participated, and the clinical investigators that supported this unique and important trial".

Financial Highlights

At September 30, 2016, ProQR held cash and cash equivalents of €64.9 million, compared to €76.3 million at June 30, 2016. Net cash used in operating activities during the three month period ended September 30, 2016 was €10.8 million, compared to €6.3 million for the same period last year.

Research and development costs increased to €8.3 million for the quarter ended September 30, 2016 from €6.0 million for the same period last year and comprised of allocated employee costs including share-based payments, the costs of materials and laboratory consumables, outsourced activities for our clinical studies, license and intellectual property costs and other allocated costs. The increase in expenses was primarily due to the advancement of our pipeline, which included clinical development of QR-010 for CF, preparations for the start of the first clinical trial of QR-110 for LCA10, and preclinical development activities of QR-313 for epidermolysis bullosa.

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