Business
Rocket Pharmaceuticals Provides Business Update in Light of COVID-19 Pandemic
—Continue to Believe We Will Achieve 2020 Milestones— — Balance Sheet is Strong; Company Capital Will Be Sufficient into 2022 — NEW YORK--(BUSINESS WIRE)--
About this update from Rocket Pharmaceuticals, Inc.
[{"type":"text","content":"\n—Continue to Believe We Will Achieve 2020 Milestones—\n\n\n— Balance Sheet is Strong; Company Capital Will Be Sufficient into 2022 —\n\n NEW YORK--(BUSINESS WIRE)--\nRocket Pharmaceuticals, Inc. (NASDAQ: RCKT) (“Rocket”), a clinical-stage company advancing an integrated and sustainable pipeline of genetic therapies for rare childhood disorders, today provides a business update in light of the COVID-19 pandemic. The Company has taken steps to ensure the safety of all patients, families and employees during this challenging time and continues to monitor potential impact on business operations. While there have been operational delays due to the pandemic, Rocket believes that it will achieve its 2020 milestones.\n\n\nThere is strong interest from patients and families for participation in each of Rocket’s ongoing trials. Although many clinical trial sites have cut back non-essential activities, Rocket’s programs are structured such that resumption of normal operations within a few months at hospitals is not anticipated to result in meaningful delays to guidance regarding both anticipated data readouts and overall enrollment and registration plans. In addition, Rocket currently has sufficient vector inventory from its suppliers for each of the ongoing lentiviral programs, and cell processing is currently operating without interruption. Similarly, the Company has already manufactured Phase 1 study drug product for its adeno-associated virus (AAV) program through contract manufacturers.\n\n\n“In the face of many uncertainties, ensuring patient health and safety is our utmost priority. We are working creatively with our partners to drive our pipeline forward in the face of evolving COVID-19 related logistical challenges,” said Gaurav Shah, M.D., Chief Executive Officer and President of Rocket. “We remain cautious during this challenging period since none of us know the precise interval required to resume normal business activities. Assuming things return to normal within a few months, we believe our milestones will remain on track. Should it take longer, there may be risk to our timelines. We look forward to updating you as we learn more.”\n\n\nRocket is tracking the global coronavirus pandemic closely and will respond accordingly with respect to the safety of our patients and the continuity of business operations. As the state of af...