Capricor Therapeutics Q2 net loss widens on higher expenses
Capricor Therapeutics Q2 net loss widens on higher expenses
Overview
US biotechnology firm's Q2 net loss widened as operating expenses increased during late-stage development
Company reported no revenue for Q2 as lead therapy Deramiocel remains under FDA review
Cash position at end-Q2 stood at $238 mln, sufficient to fund operations for at least twelve months
Outlook
Capricor expects cash resources to fund operations for at least the next 12 months
Company to provide further financial guidance after greater regulatory clarity on Deramiocel
Capricor is advancing commercial readiness at a slower pace pending regulatory clarity
Result Drivers
INCREASED OPERATING EXPENSES - Higher costs driven by regulatory activities and commercial readiness for Deramiocel
NO REVENUE RECOGNIZED - Company reported no revenue as lead therapy Deramiocel remains under FDA review
Company press release: ID:nGNX286wD0
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Loss Per Share |
| $0.70 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 10 "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 Capricor Therapeutics, Inc. is $5.00, about 19.3% above its August 12 closing price of $4.19
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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.)