Magenta Therapeutics down on larger-than-expected Q1 loss

Dianthus Therapeutics

16/05/2022 18:36

** Shares of drug developer  MGTA.O  fall as much as 6% to
$1.07; last down 3.2% after co posts larger-than-expected Q1
loss
    ** MGTA posts Q1 loss of 39 cents/shr vs , compared to
analysts' estimates of 31 cents, per Refinitiv IBES data
 urn:newsml:reuters.com:*:nASA03CJ8
    ** Company's net loss rose to $23 mln from $17.5 mln, a year
earlier 
    ** R&D expenses jumped 41% to $16.5 mln in Q1 from a year
ago  urn:newsml:reuters.com:*:nBw1v8BfFa
    ** Stock has fallen ~75% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))