Overview
Benitec fiscal Q1 net loss widens to $9 mln, with increased operating expenses
Company raised $100 mln in oversubscribed public offering to fund BB-301 advancement
BB-301 granted FDA Fast Track Designation after positive Phase 1b/2a trial results
Outlook
Company plans to advance BB-301 development with FDA collaboration in 2026
Benitec raised $100 mln to fund BB-301 OPMD program
Result Drivers
CAPITAL RAISE - Co raised $100 mln in an oversubscribed public offering to fund BB-301 advancement and regulatory activities
R&D: Company incurred $3.4 million of research and development expenses for the quarter
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.22
Q1 Net Income
-$9 mln
Q1 Operating Income
-$8.90 mln
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "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 Benitec Biopharma Inc is $29.50, about 55.4% above its November 13 closing price of $13.15
Press Release: ID:nGNX8CQRBj
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
