LeonaBio Q2 net loss widens on higher R&D spending
LeonaBio Q2 net loss widens on higher R&D spending
Overview
US biopharma firm's Q2 net loss widened yr/yr as R&D spending increased for cancer trial
Q2 operating expenses nearly tripled, reflecting higher clinical trial and personnel costs
Company expects to complete Phase 3 ELAINE-3 trial enrollment in Q4 2026, topline data in 2H 2027
Outlook
LeonaBio expects to complete ELAINE-3 trial enrollment in 4Q 2026
Company anticipates topline ELAINE-3 data in 2H 2027
Update on brelgometon Phase 2 trial timing expected after ELAINE-3 enrollment completion
Result Drivers
CLINICAL TRIAL SPEND - Co said higher R&D expenses were mainly due to increased spending on the ELAINE-3 trial for lasofoxifene
PERSONNEL COSTS - Co said higher G&A expenses were mainly due to personnel-related expenses and professional service fees
COMMERCIAL READINESS INVESTMENT - Co said it is investing in CMC, regulatory, and commercial readiness activities ahead of potential approval
Company press release: ID:nGNX39wJz2
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Loss Per Share |
| $0.80 |
|
Q2 Net Loss |
| $19.00 mln |
|
Q2 Operating Expenses |
| $19.45 mln |
|
Q2 Operating Income |
| -$19.45 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "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 LeonaBio Inc is $18.00, about 128.7% above its August 13 closing price of $7.87
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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.)