Lumos Pharma reports Q1 EPS ($1.29), consensus ($1.18)

Reports Q1 revenue $165,000, consensus $300,000. “We are pleased to announce that, earlier this quarter, we had a very productive End-of-Phase 2 meeting with the FDA,” said Rick Hawkins, Chairman and CEO of Lumos Pharma. “In this review, the FDA recognized LUM-201’s unique mechanism as a growth hormone secretagogue and acknowledged the use of a placebo-controlled clinical trial design as an appropriate option for a LUM-201 Phase 3 trial. Based on the FDA’s feedback, we plan to move forward with a proposal for a single Phase 3 study that will be a double-blinded, placebo-controlled clinical trial with a 2:1 randomization in approximately 150 patients. We expect to finalize design details with the FDA in the third quarter and to be in position to initiate this trial before the end of this year.