Sweden's BioInvent Q2 net sales drop, loss widens
Sweden's BioInvent Q2 net sales drop, loss widens
Overview
Sweden biotech firm's Q2 net sales fell sharply yr/yr
Company reported a significant net loss for the quarter
Clinical programs BI-1808 and BI-1206 reported new data in cancer indications
Outlook
BioInvent did not provide specific financial guidance or forecasts for the current quarter or year in press release
Result Drivers
CLINICAL DATA - Co said new clinical results for BI-1808 in ovarian cancer and CTCL, and for BI-1206 in NHL, strengthened competitive positioning
CONFERENCE PRESENTATIONS - Co presented new data at ASCO and EHA and discussed results at two KOL events
Company press release: ID:nMFNcdhkJn
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 12.80 mln |
|
Q2 Adjusted Loss Per Share |
| SEK 1.87 |
|
Q2 Net Loss |
| SEK 122.90 mln |
|
Q2 Adjusted Free Cash Flow |
| -SEK 112 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 BioInvent International AB is SEK85.00, about 261.7% above its August 26 closing price of SEK23.50
Reuters Recommended Reads
Aug 26 - Sweden's Alligator Bioscience Q2 loss widens, no sales
Aug 26 - Sweden's Cereno Scientific Q2 net loss widens, hurt by clinical development costs
Aug 25 - Sweden's Isofol Medical reports no Q2 revenue, net loss widens
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)