Inhibikase Q2 net loss widens on higher R&D, SG&A costs
Inhibikase Q2 net loss widens on higher R&D, SG&A costs
Overview
U.S. clinical-stage pharma's Q2 net loss widened yr/yr on higher R&D and SG&A costs
Company raised $50 mln in July via share sale to RA Capital to fund Phase 3 trial
IKT-001 granted FDA Orphan Drug Designation, offering potential development incentives
Outlook
Company expects cash reserves to support operations through topline data readout in Phase 3 study
Inhibikase continues regulatory submissions for Phase 3 IMPROVE-PAH trial in additional countries
Company says Orphan Drug Designation may provide incentives and market exclusivity upon approval
Result Drivers
HIGHER R&D SPENDING - Co attributed increased Q2 research and development expenses to advancement of its global Phase 3 IMPROVE-PAH clinical trial for IKT-001
INCREASED SG&A COSTS - Q2 selling, general and administrative expenses rose yr/yr, reflecting higher operating costs
Company press release: ID:nGNX2PdrZM
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Loss Per Share |
| $0.11 |
|
Q2 Net Loss |
| $19.60 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "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 Inhibikase Therapeutics, Inc. is $6.00, about 143.9% above its August 10 closing price of $2.46
Reuters Recommended Reads
Aug 11 - LB Pharmaceuticals Q2 net loss widens on higher R&D costs
Aug 10 - Perspective Therapeutics Q2 net loss widens on higher R&D costs
Aug 11 - Sagimet Biosciences Q2 net loss widens on higher R&D costs
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.)
Recent news on Inhibikase Therapeutics
See all newsBrief: Inhibikase Therapeutics Appoints Scott Wasserman To Board Of Directors
Inhibikase Therapeutics, Inc. reports results for the quarter ended June 30 - Earnings Summary
Inhibikase Q2 net loss widens on higher R&D, SG&A costs
Inhibikase Therapeutics, Inc. expected to post a loss of 11 cents a share - Earnings Preview
Brief: Inhibikase Therapeutics Prices Public Offering Of 46 Million Shares At $1.45 Per Share