Net loss for the nine-month period ended September 30, 2018 was $30.0 million, or $1.07 basic and
diluted net loss per ordinary share, as compared to $15.9 million, or $0.84 basic and diluted net loss per ordinary share, for the nine-month period ended September 30, 2017.
As of September 30, 2018, our cash, cash equivalents and marketable securities totaled $100.8 million, compared to $129.4 million at
December 31, 2017. As of September 30, 2018, there were approximately 28.9 million ordinary shares outstanding. On October 2, 2018, Nightstar completed an underwritten public offering of 4,600,000 ADSs (representing the same
number of ordinary shares), including the full exercise by the underwriters of their option to purchase additional ADSs, at a public offering price of $18.00 per ADS, resulting in estimated net proceeds to Nightstar of approximately
$77.1 million, after deducting underwriting discounts and commissions and estimated offering expenses.
About Nightstar
Nightstar is a leading clinical-stage gene therapy company focused on developing and commercializing novel
one-time
treatments for patients suffering from rare inherited retinal diseases that would otherwise progress to blindness. Nightstars lead product candidate,
NSR-REP1,
is currently in Phase 3 development for the
treatment of patients with choroideremia, a rare, degenerative, genetic retinal disorder that has no treatments currently available and affects approximately one in every 50,000 people. Positive results from a Phase 1/2 trial of
NSR-REP1
were published in
Nature Medicine
in 2018, in
The New England Journal of Medicine
in 2016, and in
The Lancet
in 2014. Nightstars second product candidate,
NSR-RPGR,
is currently being evaluated in a clinical trial known as the XIRIUS trial for the treatment of patients with
X-linked
retinitis pigmentosa, an inherited
X-linked
recessive retinal disease that affects approximately one in every 40,000 people. In September 2018, Nightstar
announced
positive preliminary safety and efficacy data from the XIRIUS trial for the
first five cohorts (combined n=15) of the dose escalation study at the EURETINA medical meeting.
For more information about Nightstar or its clinical
trials, please visit
www.nightstartx.com
.
About
X-Linked
Retinitis Pigmentosa (XLRP)
XLRP, a form of retinitis pigmentosa, is a rare inherited
X-linked
recessive genetic retinal disorder primarily
affecting males. Approximately 70% of XLRP cases are due to variants in the genes responsible for the production of RPGR. RPGR is involved in the transport of proteins necessary for the maintenance of photoreceptor cells. Loss of RPGR function in
the retinal cells causes the progressive loss of rod and cone photoreceptors, leading to the loss of vision experienced by patients. The estimated worldwide prevalence of XLRP due to RPGR variants is approximately one in 40,000 people, which
translates to approximately 17,000 patients in the United States and the five major European markets. There are no treatments currently available for XLRP. Nightstar is conducting a prospective, natural history observational study, referred to as
the XOLARIS study, to better understand the progression of untreated XLRP in up to approximately 100 patients enrolled from approximately 23 centers in North America and Europe.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words
believe, anticipate, could, intend,