Global Blood Therapeutics, Inc. GBT incurred a loss of $1.13 per share in third-quarter 2021, wider than the Zacks Consensus Estimate of a loss of $1.10. In the year-ago quarter, the company had reported a loss of 97 cents per share.The company’s revenues of $52.1 million, comprising solely of Oxbryta (voxelotor) sales, also missed the Zacks Consensus Estimate of $54 million. Global Blood had generated $36.9 million in product sales in the year-ago quarter.Shares of Global have plunged 9.1% year to date compared with the industry’s decline of 6.8%.Image Source: Zacks Investment ResearchQuarter in DetailsOxbryta sales increased 9.5% sequentially in the third quarter, owing to higher patient demand. The company recorded around 850 new prescriptions of Oxbryta in the third quarter despite the ongoing COVID-19 pandemic.Research and development expenses in the reported quarter were $50.5 million, up 25.6% year over year, primarily attributable to higher external costs related to the company’s preclinical programs.Selling, general and administrative expenses were $68 million in the reported quarter, up 24.8% year over year due to higher employee-related costs, and increased professional and consulting services’ cost.As of Sep 30, 2021, Global Blood had cash, cash equivalents and marketable securities worth $416.8 million compared with $437.4 million as of Jun 30, 2021.Recent UpdatesOxbryta is approved by the FDA as an oral, once-daily treatment for sickle cell disease (“SCD”) in patients aged 12 years or above.In September 2021, the FDA accepted the supplemental new drug application (sNDA) as well as a new drug application (“NDA”) for Oxbryta. The sNDA is seeking approval of Oxbryta for the treatment of SCD in children aged four to 11 years, while the NDA is seeking approval for a new age-appropriate dispersible tablet dosage form of Oxbryta (300 mg) in pediatric patients.With the FDA granting priority reviews to both the sNDA and the NDA, a decision from the regulatory body is expected on Dec 25, 2021.Oxbryta is also under review in the EU for treating hemolytic anemia in patients with SCD who are 12 years of age and older, with an approval from the European Medicines Agency expected in the first half of 2022. A potential nod should boost sales in future quarters.Global Blood Therapeutics, Inc. Price, Consensus and EPS Surprise Global Blood Therapeutics, Inc. price-consensus-eps-surprise-chart | Global Blood Therapeutics, Inc. QuoteZacks Rank & Stocks to ConsiderGlobal Blood currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the biotech sector include Agenus Inc. AGEN, Amicus Therapeutics, Inc. FOLD and Athenex, Inc. ATNX, all carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Agenus’ loss per share estimates have narrowed 17.8% for 2021 and 20.6% for 2022 over the past 60 days. The stock has rallied 34.9% year to date.Amicus Therapeutics’ loss per share estimates have narrowed 1.3% for 2021 and 37.5% for 2022 over the past 60 days.Athenex’s loss per share estimates have narrowed 9% for 2021 and 9.2% for 2022 over the past 60 days. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100S of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amicus Therapeutics, Inc. (FOLD): Free Stock Analysis Report Agenus Inc. (AGEN): Free Stock Analysis Report Global Blood Therapeutics, Inc. (GBT): Free Stock Analysis Report Athenex, Inc. (ATNX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research