Iveric bio reports Q4 EPS (47c), consensus (37c)

As of December 31, 2022, the Company had approximately $646.8M in cash, cash equivalents and available-for-sale securities. The Company estimates that its cash, cash equivalents, available-for-sale securities and committed loan facilities will be sufficient to fund its planned capital expenditure requirements, debt service obligations and operating expenses for at least the next 12 months. This estimate does not include any potential new borrowings under its term loan facility with Hercules Capital and Silicon Valley Bank, beyond the $25.0M that the Company plans to borrow during 2023 based on its achievement of the performance milestone related to the FDA’s acceptance of its NDA for filing. "In 2022, we successfully delivered a banner year with avacincaptad pegol achieving a statistically significant reduction in the rate of geographic atrophy progression at the 12-month pre-specified primary endpoint across two Phase 3 clinical trials," stated Glenn P. Sblendorio, CEO of Iveric Bio. "We are excited to begin 2023 with the FDA’s acceptance of the filing of our new drug application and granting of priority review for ACP for the treatment of GA secondary to age-related macular degeneration. With the achievement of these important milestones, we move closer to our goal of providing patients with a treatment for GA, a devastating disease that leads to irreversible blindness."