The EPS beat and regulatory progress (Type B FDA meeting, UK MAA submission) provide near-term catalysts, but the widening net loss and 84% SG&A increase signal escalating cash burn. Watch for the FDA Type B meeting outcome and AMT-260 data in June 2026 as key inflection points. The $586.6M cash runway into H2 2029 provides a long buffer, but the lack of near-term revenue growth keeps this a binary catalyst-driven stock.
Price Chart
Executive Summary
uniQure reported Q1 2026 revenue of $3.6M (up from $1.6M YoY) and a net loss of $53.5M ($0.85/share), wider than the $43.6M loss in Q1 2025. The EPS beat consensus by 14.9% ($0.85 actual vs $0.75 estimate), but the net loss widened and SG&A surged 84% to $20.1M as the company invested in commercial infrastructure for AMT-130. The stock will trade on regulatory catalysts: a Type B FDA meeting for AMT-130 and a planned UK MAA submission in Q3 2026, offset by the widening loss and the discontinuation of AMT-162.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $3.6M vs $1.6M YoY, driven by license revenue increase
- Net loss widened to $53.5M ($0.85/share) from $43.6M ($0.82/share) YoY
- EPS of $0.85 beat consensus estimate of $0.75 by 14.9%
- Cash and investments $586.6M, down from $622.5M at year-end 2025; runway into H2 2029
- SG&A expenses surged 84% to $20.1M, primarily for AMT-130 commercial planning hires
- Type B FDA meeting scheduled for Q2 2026 to discuss AMT-130 Phase III design
- UK MAA submission for AMT-130 on track for Q3 2026 after constructive MHRA pre-submission meeting
- AMT-162 (ALS) development discontinued after dose-limiting toxicity; safety monitoring continues
- HEMGENIX supply obligations to CSL Behring to terminate in mid-2026; no impact on royalties
- AMT-260 epilepsy data from first cohort expected at June 2026 conference
Financial Impact
Net loss widened by $9.9M YoY to $53.5M; cash burn of $35.9M in Q1 2026
Risk Factors
- FDA may require a randomized controlled trial for AMT-130, delaying approval path
- Cash burn rate increased in Q1 2026; SG&A growth may accelerate further
- AMT-191 dosing paused due to liver enzyme elevations; pipeline execution risk
- AMT-162 discontinued; pipeline concentration risk on AMT-130
- No approved products generating revenue; fully dependent on pipeline success
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-055242 |
| Document: qure-20260505x8k.htm | 0001104659-26-055242 |
| Document: 0001104659-26-055242-index-headers.html | 0001104659-26-055242 |
| Document: 0001104659-26-055242-index.html | 0001104659-26-055242 |
| Document: 0001104659-26-055242.txt | 0001104659-26-055242 |
| 8-K Data (Synthetic) | 0001104659-26-055242 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 2, 2026 4w ago | 8-K | $46.23 $44.47 | ▼ −3.81% | ▼ −2.85% | $23.46 (−49.25%) |
Jul 29, 2026 9w ago | 8-K | $40.07 $44.24 | ▲ +10.41% | ▲ +4.88% | $23.46 (−41.45%) |
Jul 7, 2026 12w ago | Insider Cluster | $41.41 $41.52 | ▼ −0.27% | ▲ +0.29% | $23.46 (+43.35%) |
Jul 2, 2026 13w ago | Insider Cluster | $41.81 $44.48 | ▼ −6.39% | ▼ −5.46% | $23.46 (+43.89%) |
Jul 2, 2026 13w ago | Insider Cluster | $41.81 $44.48 | ▲ +6.39% | ▲ +5.46% | $23.46 (−43.89%) |
Jul 2, 2026 13w ago | 144 | $41.81 $44.48 | ▲ +6.39% | ▲ +5.46% | $23.46 (−43.89%) |
Jun 30, 2026 13w ago | 144 | $45.17 $41.41 | ▼ −8.32% | ▼ −8.59% | $23.46 (−48.06%) |
Jun 25, 2026 14w ago | 144 | $47.51 $41.81 | ▲ +12.00% | ▲ +14.16% | $23.46 (+50.62%) |
Jun 24, 2026 14w ago | 424B5 | $49.10 $45.17 | ▼ −8.00% | ▼ −9.56% | $23.46 (−52.22%) |
Jun 24, 2026 14w ago | 144 | $49.10 $45.17 | ▼ −8.00% | ▼ −9.56% | $23.46 (−52.22%) |
US Market Status
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