NASDAQ$PRQR
ProQR Therapeutics NV · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
ProQR Q3 2025: AX-0810 Phase 1 launch as €106.9M cash supports runway into mid-2027
ProQR Therapeutics reported third quarter 2025 operating and financial results alongside a pipeline update centered on AX-0810, its lead Axiomer RNA editing program targeting NTCP for cholestatic diseases. After receiving CTA authorization in October, the company is initiating a first-in-human Phase 1 study in healthy volunteers, with Cohort 1 safety and PK data expected by year-end and target engagement data in H1 2026. The company held €106.9 million in cash and cash equivalents at September 30, 2025, versus €149.4 million at year-end 2024, providing runway into mid-2027. Third quarter revenue was €2.9 million and the quarterly net loss widened to €11.0 million (€0.10 diluted EPS) from €8.1 million a year ago, while nine-month R&D spend rose to €34.8 million on advancing the Axiomer platform and Lilly collaboration milestones.
- AX-0810 received CTA authorization and is entering a first-in-human Phase 1 study with initial Cohort 1 data expected by year-end 2025.
- Cash and equivalents totaled €106.9M at quarter end, providing runway into mid-2027.
- Q3 revenue was €2.9M; Q3 net loss was €11.0M (€0.10 diluted EPS) versus €8.1M loss in Q3 2024.
- Nine-month net loss was €33.3M (€0.32 diluted EPS) on R&D costs of €34.8M, up from €25.7M in the prior-year period.
- Pipeline includes AX-2402 (Rett syndrome), AX-2911 (PNPLA3 fatty liver), and AX-1412 (cardiovascular protection) with updates expected in coming months.
Headline financials
Revenue & EPS history
ProQR · Revenue · Quarterly
€2.88M
Forward guidance
Management expects initial AX-0810 Phase 1 safety, tolerability, and PK data from Cohort 1 toward year-end 2025, with target engagement data from all healthy volunteer cohorts in H1 2026, supported by cash runway into mid-2027.
Tailwinds
- First clinical evaluation of an Axiomer editing oligonucleotide now underway with CTA authorization secured.
- Lilly collaboration may provide milestone income and potential data updates.
Headwinds
- Nine-month net cash used in operating activities rose to €39.4M from €27.0M year over year.
- Pre-commercial biotech remains loss-making with widening quarterly operating losses.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 12 quarterly earnings reports · overlaid with Q3 2025
-3.4%
Avg return
Earnings day
+0.5%
Avg return
5 days after
-1.6%
Avg return
30 days after
25%
5 / 20 earnings
Positive
+9.3%
Q2 2024
Best reaction
-29.3%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.8% | -1.2% | -11.2% | |
| Q3 2025 | -6.8% | -9.2% | -12.2% | |
| Q2 2025 | +0.0% | +5.5% | +15.3% | |
| Q4 2024 | -2.4% | -15.2% | -6.7% | |
| Q3 2024 | +3.6% | +9.3% | -2.2% | |
| Q2 2024 | +9.3% | +9.8% | +1.4% | |
| Q1 2024 | -4.4% | -3.5% | -15.3% | |
| Q4 2023 | +5.1% | +2.3% | +9.1% | |
| Q3 2023 | -3.8% | +0.0% | -7.7% | |
| Q1 2018 | -8.7% | -4.3% | -10.9% | |
| Q4 2017 | -1.6% | +5.6% | -9.7% | |
| Q1 2017 | +0.0% | +5.0% | +26.3% | |
| Q3 2016 | -4.5% | +1.9% | +2.6% | |
| Q2 2016 | -19.9% | — | — | |
| Q1 2016 | +8.9% | — | — | |
| Q4 2015 | -29.3% | — | — | |
| Q3 2015 | -6.1% | — | — | |
| Q2 2015 | -2.5% | — | — | |
| Q1 2015 | -5.8% | — | — | |
| Q3 2014 | +5.4% | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — |
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