Century Therapeutics posts smaller-than-expected Q1 net loss on lower R&D spend
Century Therapeutics, Inc. IPSC | 0.00 |
Overview
US biotech firm's Q1 net loss narrowed, beating analyst expectations
Q1 operating loss also beat analyst expectations
Company ended Q1 with $217 mln in cash, projects runway into Q1 2029
Outlook
Century projects cash runway into 1Q 2029
Result Drivers
LOWER R&D SPENDING - Co said Q1 R&D expenses fell mainly due to reduced personnel and lower clinical trial spending
LOWER G&A EXPENSES - Q1 G&A expenses decreased from prior year period
Company press release: ID:nGNX63q5G4
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Net Income |
Beat |
-$21.65 mln |
-$23.94 mln (3 Analysts) |
Q1 Operating Income |
Beat |
-$23.68 mln |
-$25.97 mln (3 Analysts) |
Q1 Basic EPS |
|
-$0.11 |
|
Q1 Operating Expenses |
|
$23.68 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Century Therapeutics Inc is $4.50, about 96.5% above its May 12 closing price of $2.29
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