Rocket Pharma | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.45, beating the estimate of USD -0.5044.

EBIT: As of FY2025 Q3, the actual value is USD -49.86 M.

Operating Expenses

• Research and Development (R&D) Expenses: R&D expenses decreased by $8.2 million to $34.1 million for the three months ended September 30, 2025, compared to the same period in 2024. This decrease was primarily driven by reductions in manufacturing and development costs, clinical trial expenses, and professional fees.
• General and Administrative (G&A) Expenses: G&A expenses decreased by $8.8 million to $18.4 million for the three months ended September 30, 2025, compared to the same period in 2024. The decrease was mainly due to reductions in commercial preparation-related expenses and stock-based compensation expenses.
• Restructuring Expenses: The company incurred restructuring expenses of $3.3 million for the nine months ended September 30, 2025, related to a reduction in workforce and other termination benefits.

Cash Flow

• Net Cash Used in Operating Activities: For the nine months ended September 30, 2025, net cash used in operating activities was $155.2 million, primarily due to a net loss of $180.6 million, offset by non-cash charges such as stock-based compensation and depreciation.
• Net Cash Provided by Investing Activities: Net cash provided by investing activities was $67.3 million for the nine months ended September 30, 2025, mainly from proceeds from maturities of investments.
• Net Cash Provided by Financing Activities: Financing activities provided $0.1 million of cash during the nine months ended September 30, 2025, primarily from the return of short-swing profits.

Future Outlook and Strategy

• Core Business Focus: The company is focusing on advancing its AAV cardiovascular gene therapy platform and supporting the submission of responses to the CRL for KRESLADI™. The strategic realignment includes de-prioritizing further development activities related to the FA and PKD programs.
• Non-Core Business: The company is exploring external partnership options for its FA and PKD programs, indicating a shift in focus away from these areas to concentrate resources on more promising segments.

Strategic Reorganization

• In July 2025, Rocket Pharmaceuticals announced a strategic corporate reorganization aimed at maximizing near-term value and extending its operational runway into the second quarter of 2027. This includes a reduction in workforce by approximately 30% and other cost-saving initiatives expected to reduce 12-month operating expenses by nearly 25%.