{"id":487446,"date":"2021-05-05T06:33:29","date_gmt":"2021-05-05T10:33:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/"},"modified":"2021-05-05T06:33:29","modified_gmt":"2021-05-05T10:33:29","slug":"iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/","title":{"rendered":"Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwdoublebottom { border-bottom: double black 2.25pt }\n.bwlistdisc { list-style-type: disc }\n.bwnowrap { white-space: nowrap }\n.bwpadl0 { padding-left: 0px }\n.bwpadl3 { padding-left: 15px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results<\/b><\/p>\n<p class=\"bwalignc\">\n&#8211; <i>GATHER2 On-Track to Complete Enrollment in 3Q of this Year &#8211;<\/i><\/p>\n<p class=\"bwalignc\"><i>&#8211; Conference Call and Webcast Today, May 5, 2021, at 8:00 a.m. ET &#8211;<\/i><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fivericbio.com%2F&amp;esheet=52423216&amp;newsitemid=20210505005089&amp;lan=en-US&amp;anchor=IVERIC+bio%2C+Inc.&amp;index=1&amp;md5=991d7845a0e0ebf53b4b5c822737d44d\">IVERIC bio, Inc.<\/a> (Nasdaq: ISEE) today announced financial and operating results for the quarter ended March 31, 2021 and provided a general business update.\n<\/p>\n<p>\n\u201cIveric Bio is entering an important period as we remain focused on the execution of our ongoing Zimura GATHER2 clinical trial, which is our second Phase 3 clinical trial for Zimura for the treatment of geographic atrophy secondary to age-related macular degeneration. We are committed to completing recruitment for the GATHER2 trial in the third quarter of this year,\u201d stated Glenn P. Sblendorio, Chief Executive Officer of Iveric Bio. \u201cTo date, both the recruitment and retention of patients in GATHER2 have exceeded our expectations. We are on track for initial, topline data from GATHER2 to be available approximately one year after the recruitment of the last patient in the GATHER2 clinical trial, plus the time needed for database closure and analysis of the initial, topline data.\u201d\n<\/p>\n<p>\n\u201cA key goal of ours is to expand and advance our footprint in multiple stages and types of AMD,\u201d stated Pravin U. Dugel, M.D., President of Iveric Bio. \u201cWe are excited by the opportunity to potentially expand the reach of Zimura beyond GA and to continue the development of IC-500, our HtrA1 inhibitor, which we expect could be complementary to Zimura in treating AMD patients. We remain committed to developing safe and effective therapeutic and gene therapy treatment options for retinal diseases with significant unmet medical needs.\u201d\n<\/p>\n<p><b><span class=\"bwuline\">Therapeutics Programs Targeting Geographic Atrophy Secondary to Age-Related Macular Degeneration<\/span><\/b><\/p>\n<p><b><i>Zimura\u00ae (avacincaptad pegol): Complement C5 Inhibitor<\/i><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nEnrollment and retention for GATHER2, the Company\u2019s pivotal clinical trial of Zimura in development for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD), are progressing well with enrollment on target. In March 2021, the Company announced it accelerated the timeline for when it expects to complete enrollment in GATHER2 to the third quarter of 2021.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nThe Phase 2b screening clinical trial of Zimura for the treatment of autosomal recessive Stargardt disease, referred to as the STAR trial, is ongoing with the goal of enrolling approximately 120 patients.\n<\/li>\n<\/ul>\n<p><b><i>IC-500: HtrA1 (high temperature requirement A serine peptidase 1 protein) Inhibitor<\/i><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nDuring the first quarter of 2021, the Company revised its development plans for IC-500 to include plans to investigate multiple dosing schedules for this product candidate. In April 2021, the Company commenced its first preclinical tolerability study for IC-500 and is currently planning additional preclinical studies, including pharmacokinetic and target engagement studies. Formulation optimization and other manufacturing activities are also ongoing. The Company expects to submit an IND to the FDA for IC-500 in GA secondary to AMD in the second half of 2022.\n<\/li>\n<\/ul>\n<p><b>Iveric Bio to Host Dry AMD Virtual Symposium for Investors\/Analysts<\/b><\/p>\n<p>\nThe Company will host a dry AMD Virtual Symposium for investors and analysts on Friday, June 18, 2021 from 10:00am \u2013 12:00pm Eastern Time. The event will include presentations and discussions with retinal specialists and key opinion leaders on the dry AMD landscape, Zimura pivotal program in GA and highlights from the Company\u2019s IC-500 program in AMD. The event will be accessible via webcast on the Iveric Bio website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ivericbio.com&amp;esheet=52423216&amp;newsitemid=20210505005089&amp;lan=en-US&amp;anchor=www.ivericbio.com&amp;index=2&amp;md5=02cef9648a712d004bf021f6107a3e25\">www.ivericbio.com<\/a>. For more information, please contact Kathy Galante at <a rel=\"nofollow\" href=\"mailto:kathy.galante@ivericbio.com\">kathy.galante@ivericbio.com<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">Gene Therapy Programs in Orphan Inherited Retinal Diseases (IRDs)<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b><i>IC-200: BEST1-Related IRDs<br \/>\n<br \/><\/i><\/b>The Company is completing a preclinical efficacy and toxicology study for IC-200, in the naturally occurring canine model of Best disease. Published data have demonstrated long-term rescue in this model following a single sub-retinal injection. The Company is on track to release the recently manufactured cGMP batch of IC-200 in preparation for the planned IND filing and plans to move IC-200 into the clinic, in a Phase 1\/2 trial in the second half of 2021.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b><i>IC-100: Rhodopsin-Mediated Autosomal Dominant Retinitis Pigmentosa (RHO-adRP)<\/i><\/b>.<br \/>\n<br \/>The Company continues to evaluate the results of preclinical toxicology studies for IC-100. In the Company\u2019s preclinical efficacy and toxicology study in a naturally occurring canine model of RHO-adRP, efficacy was demonstrated at all three doses tested. The Company also tested the same three doses in a GLP toxicology study in non-human primates. Ocular inflammation on clinical exam was observed in the high dose group in canines and to varying degrees at different dosing levels tested in non-human primates. Due to the different findings in the two different species, and the Company\u2019s high commitment to the safety of its patients, the Company is planning to discuss with regulators the design of its planned first-in-human clinical trial for IC-100 prior to submitting an IND. The Company now believes that IC-100 will likely be delayed from entering into a Phase 1\/2 clinical trial this year.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b><i>Minigene Programs<br \/>\n<br \/><\/i><\/b>The Company, in its minigene collaboration with the University of Massachusetts Medical School, has identified a lead construct for its Leber Congenital Amaurosis Type 10 (LCA10) program and is currently considering development plans for this program. The Company expects to obtain additional results from its Stargardt Disease (ABCA4) program in the second quarter of 2021, and expects to obtain preliminary results from its USH2A-related inherited retinal diseases program in the second half of 2021.\n<\/li>\n<\/ul>\n<p>\nThe Company announced today the formation of its Gene Therapy Inherited Retina Disease Scientific Advisory Committee that will work closely with senior management as the Company advances its gene therapy inherited retinal disease programs. The members of the advisory committee include:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nElias Traboulsi, MD, MEd<br \/>\n<br \/>Head of the Department of Pediatric Ophthalmology<br \/>\n<br \/>Director of the Center for Genetic Eye Diseases<br \/>\n<br \/>Cole Eye Institute<br \/>\n<br \/>Professor of Ophthalmology, Cleveland Clinic Lerner College of Medicine,<br \/>\n<br \/>Cleveland Clinic\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nAndreas K. Lauer, MD<br \/>\n<br \/>Chair, Department of Ophthalmology, Casey Eye Institute<br \/>\n<br \/>Professor of Ophthalmology, School of Medicine\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nBart P. Leroy, MD, PhD<br \/>\n<br \/>Head, Department of Ophthalmology, Ghent University Hospital<br \/>\n<br \/>Senior Staff Member, Center for Medical Genetics Ghent, Ghent University Hospital<br \/>\n<br \/>Professor of Ophthalmology &amp; Ophthalmic Genetics, Ghent University<br \/>\n<br \/>Director of the Retinal Degenerations Clinic Children\u2019s Hospital of Philadelphia\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nMark Pennesi, MD, PhD<br \/>\n<br \/>Division Chief, Ophthalmic Genetics<br \/>\n<br \/>Associate Professor in Ophthalmology, Oregon Health &amp; Science University\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nEleonora Lad, MD, PhD<br \/>\n<br \/>Director of Grading, Duke Reading Center<br \/>\n<br \/>Associate Professor of Ophthalmology, Duke University Medical Center\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">Board of Directors and Management<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nToday the Company announced the promotions of Pravin U. Dugel, MD, to President, and Kathy Galante to Senior Vice President, Investor Relations, both effective as of May 1.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nIn April 2021, the Company announced that David R. Guyer, MD, was stepping down from the Iveric Bio Board of Directors after 14 years, effective following Iveric Bio\u2019s 2021 Annual Stockholder Meeting scheduled to be held on May 19, 2021.\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">First Quarter Financial Results and 2021 Cash Guidance<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAs of March 31, 2021, the Company had $180.2 million in cash, cash equivalents and available for sale securities.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nThe Company estimates its year-end 2021 cash, cash equivalents and available for sale securities to range between $125 and $135 million. The Company also estimates that its cash, cash equivalents and available for sale securities will be sufficient to fund its planned capital expenditure requirements and operating expenses, excluding any potential approval or sales milestones payable to Archemix Corp. or any commercialization expenses for Zimura, into 2024. These estimates are based on the Company\u2019s current business plan, including the continuation of its ongoing clinical development programs for Zimura, the progression of its IC-100 and IC-200 programs into the clinic, and the advancement of its IC-500 development program. These estimates also assume that the Company will enroll approximately 400 patients in the GATHER2 trial. These estimates do not reflect any additional expenditures related to potentially studying Zimura in other indications or resulting from the potential in-licensing or acquisition of additional product candidates or technologies or commencement of new sponsored research programs, and any associated development the Company may pursue.\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">2021 Q1 Financial Highlights<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b><span class=\"bwuline\">R&amp;D Expenses<\/span><\/b>: Research and development expenses were $18.5 million for the quarter ended March 31, 2021, compared to $13.8 million for the same period in 2020. Research and development expenses increased primarily due to the initiation of our GATHER2 trial and commencement of patient enrollment and increased manufacturing activities for Zimura, increased manufacturing and preclinical development activities associated with the Company\u2019s IC-100 and IC-200 gene therapy programs and the progression of its IC-500 development program.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b><span class=\"bwuline\">G&amp;A Expenses<\/span><\/b>: General and administrative expenses were $8.3 million for the quarter ended March 31, 2021, compared to $5.0 million for the same period in 2020. General and administration expenses increased primarily due to legal costs associated with ongoing litigation.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b><span class=\"bwuline\">Income Tax Benefit<\/span><\/b>: For the quarter ended March 31, 2021, the Company recorded no income tax benefit. An income tax benefit of $3.3 million was recognized in the quarter ended March 31, 2020 to reflect a favorable settlement of a state corporate income tax audit.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b><span class=\"bwuline\">Net Loss<\/span><\/b>: The Company reported a net loss for the quarter ended March 31, 2021 of $26.8 million, or ($0.29) per diluted share, compared to a net loss of $15.1 million, or $(0.28) per diluted share, for the same period in 2020.\n<\/li>\n<\/ul>\n<p><span class=\"bwuline\">Conference Call\/Web Cast Information<\/span><\/p>\n<p>\nIveric Bio will host a conference call\/webcast to discuss the Company\u2019s financial and operating results and provide a business update. The call is scheduled for May 5, 2021 at 8:00 a.m. Eastern Time. To participate in this conference call, dial 888-317-6003 (USA) or 412-317-6061 (International), passcode 5841649. A live, listen-only audio webcast of the conference call can be accessed on the Investors section of the Iveric Bio website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ivericbio.com&amp;esheet=52423216&amp;newsitemid=20210505005089&amp;lan=en-US&amp;anchor=www.ivericbio.com&amp;index=3&amp;md5=ae49a1dde5a9660eb52e039476c994c9\">www.ivericbio.com<\/a>. A replay will be available approximately two hours following the live call for two weeks. The replay number is 877-344-7529 (USA) or 412-317-0088, passcode 10153477.\n<\/p>\n<p><b>About Iveric Bio <\/b><\/p>\n<p>\nIveric Bio is a science-driven biopharmaceutical company focused on the discovery and development of novel treatment options for retinal diseases with significant unmet medical needs. The Company is currently developing both therapeutic product candidates for age-related retinal diseases and gene therapy product candidates for orphan inherited retinal diseases. Vision is Our Mission. For more information on the Company, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ivericbio.com&amp;esheet=52423216&amp;newsitemid=20210505005089&amp;lan=en-US&amp;anchor=www.ivericbio.com&amp;index=4&amp;md5=9bba43d18a13d0c7e58aac9cdc311de5\">www.ivericbio.com<\/a>.\n<\/p>\n<p><b><i>Forward-looking Statements <\/i><\/b><\/p>\n<p><i>Any statements in this press release about the Company\u2019s future expectations, plans and prospects constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any statements about the Company\u2019s strategy, future operations and future expectations and plans and prospects for the Company, and any other statements containing the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend\u201d, \u201cgoal,\u201d \u201cmay\u201d, \u201cmight,\u201d \u201cplan,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cseek,\u201d \u201ctarget,\u201d \u201cpotential,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201ccontinue,\u201d and similar expressions. In this press release, the Company\u2019s forward looking statements include statements about its expectations regarding patient enrollment and patient retention in its second Phase 3 trial (GATHER2) of Zimura in geographic atrophy secondary to AMD and use of the results from its completed clinical trial of Zimura for the treatment of geographic atrophy secondary to AMD (GATHER1) as a Phase 3 trial, its development and regulatory strategy for Zimura and its other product candidates, including additional indications that the Company may pursue for the development of Zimura and IC-500, the implementation of its business plan, its expectations regarding expected cash, cash equivalents and available for sale securities and the sufficiency of its cash resources, the timing, progress and results of clinical trials and other research and development activities and regulatory submissions, the potential utility of its product candidates, the potential for its business development strategy and its personnel, advisory committee members and human capital resources. Such forward-looking statements involve substantial risks and uncertainties that could cause the Company\u2019s development programs, future results, performance, or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, those related to the progression and duration of the COVID-19 pandemic and responsive measures thereto and related effects on the Company\u2019s research and development programs, operations and financial position, the initiation and the progress of research and development programs and clinical trials, including enrollment and retention in clinical trials, availability of data from these programs, reliance on contract development and manufacturing organizations, university collaborators and other third parties, establishment of manufacturing capabilities, expectations for regulatory matters, developments from the Company\u2019s competitors and the marketplace for the Company\u2019s products, need for additional financing and negotiation and consummation of business development transactions and other factors discussed in the \u201cRisk Factors\u201d section contained in the quarterly and annual reports that the Company files with the Securities and Exchange Commission. Any forward-looking statements represent the Company\u2019s views only as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. While the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so except as required by law.<\/i><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"10\" class=\"bwalignc bwvertalignb bwpadl0\" rowspan=\"1\"><b>IVERIC bio, Inc.<\/b><\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" class=\"bwalignc bwvertalignb bwpadl0\" rowspan=\"1\"><b>Selected Financial Data (unaudited)<\/b><\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" class=\"bwalignc bwvertalignb bwpadl0\" rowspan=\"1\"><b>(in thousands, except per share data)<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"7\" class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\"><b>Three Months Ended March 31, <\/b><\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwalignc bwvertalignb bwpadl0\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwalignc bwvertalignb bwpadl0\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\"><b>Statements of Operations Data:<\/b><\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Operating expenses:<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl3\" rowspan=\"1\" colspan=\"1\">Research and development<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18,549\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13,750\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">General and administrative<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8,322\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,998\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl3\" rowspan=\"1\" colspan=\"1\">Total operating expenses<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n26,871\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18,748\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Loss from operations<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(26,871\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18,748\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">Interest income<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n77\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n358\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Other income (expense), net<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl3\" rowspan=\"1\" colspan=\"1\">Loss before income benefit<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(26,795\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18,385\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Income tax benefit<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,309\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">Net loss<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(26,795\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(15,076\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Net loss per common share:<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl3\" rowspan=\"1\" colspan=\"1\">Basic and diluted<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.29\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.28\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Weighted average common shares outstanding:<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl3\" rowspan=\"1\" colspan=\"1\">Basic and diluted<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n93,311\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n53,426\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0 bwnowrap\" rowspan=\"1\"><b>March 31, 2021<\/b><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0 bwnowrap\" rowspan=\"1\"><b>December 31, 2020<\/b><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"7\" class=\"bwalignc bwvertalignb bwpadl0\" rowspan=\"1\"><b>(in thousands)<\/b><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\"><b>Balance Sheets Data:<\/b><\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"3\" rowspan=\"1\" \/>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Cash, cash equivalents and marketable securities<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n180,201\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n210,047\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">Total assets<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n187,402\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n216,754\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Total liabilities<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n20,214\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n25,191\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">Additional paid-in capital<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n758,964\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n756,543\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">Accumulated deficit<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(591,868\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(565,073\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">Total stockholders&#8217; equity<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n167,188\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n191,563\n<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<\/table>\n<p><b>ISEE-G<\/b><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210505005089r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210505005089\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210505005089\/en\/<\/a><\/span><\/p>\n<p><b>Investor Contact:<br \/>\n<\/b><br \/>Iveric Bio<br \/>\n<br \/>Kathy Galante<br \/>\n<br \/>Senior Vice President, Investor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:kathy.galante@ivericbio.com\">kathy.galante@ivericbio.com<br \/>\n<\/a><br \/>212-845-8231\n<\/p>\n<p>\nor\n<\/p>\n<p><b>Media Contact:<br \/>\n<\/b><br \/>SmithSolve<br \/>\n<br \/>Alex Van Rees<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:alex.vanrees@smithsolve.com\">alex.vanrees@smithsolve.com<br \/>\n<\/a><br \/>973-442-1555 ext. 111\n<\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Research FDA Clinical Trials Biotechnology Health Pharmaceutical General Health Optical Science<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210505005089\/en\/718702\/3\/IVERIC_bio.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results &#8211; GATHER2 On-Track to Complete Enrollment in 3Q of this Year &#8211; &#8211; Conference Call and Webcast Today, May 5, 2021, at 8:00 a.m. ET &#8211; NEW YORK&#8211;(BUSINESS WIRE)&#8211;IVERIC bio, Inc. (Nasdaq: ISEE) today announced financial and operating results for the quarter ended March 31, 2021 and provided a general business update. \u201cIveric Bio is entering an important period as we remain focused on the execution of our ongoing Zimura GATHER2 clinical trial, which is our second Phase 3 clinical trial for Zimura for the treatment of geographic atrophy secondary to age-related macular degeneration. We are committed to completing recruitment for the GATHER2 trial in the third quarter of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-487446","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results &#8211; GATHER2 On-Track to Complete Enrollment in 3Q of this Year &#8211; &#8211; Conference Call and Webcast Today, May 5, 2021, at 8:00 a.m. ET &#8211; NEW YORK&#8211;(BUSINESS WIRE)&#8211;IVERIC bio, Inc. (Nasdaq: ISEE) today announced financial and operating results for the quarter ended March 31, 2021 and provided a general business update. \u201cIveric Bio is entering an important period as we remain focused on the execution of our ongoing Zimura GATHER2 clinical trial, which is our second Phase 3 clinical trial for Zimura for the treatment of geographic atrophy secondary to age-related macular degeneration. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/","og_locale":"en_US","og_type":"article","og_title":"Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results - Market Newsdesk","og_description":"Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results &#8211; GATHER2 On-Track to Complete Enrollment in 3Q of this Year &#8211; &#8211; Conference Call and Webcast Today, May 5, 2021, at 8:00 a.m. ET &#8211; NEW YORK&#8211;(BUSINESS WIRE)&#8211;IVERIC bio, Inc. (Nasdaq: ISEE) today announced financial and operating results for the quarter ended March 31, 2021 and provided a general business update. \u201cIveric Bio is entering an important period as we remain focused on the execution of our ongoing Zimura GATHER2 clinical trial, which is our second Phase 3 clinical trial for Zimura for the treatment of geographic atrophy secondary to age-related macular degeneration. We are committed to completing recruitment for the GATHER2 trial in the third quarter of &hellip; Continue reading \"Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-05-05T10:33:29+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210505005089r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results","datePublished":"2021-05-05T10:33:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/"},"wordCount":2294,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210505005089r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/iveric-bio-reports-first-quarter-2021-operational-highlights-and-financial-results\/","name":"Iveric Bio Reports First Quarter 2021 Operational Highlights and Financial Results - 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