Point Biopharma Rises On Smaller: than-estimated Q1 loss

POINT Biopharma Global

15/05/2023 18:05

** Shares of cancer drug developer POINT Biopharma Global
Inc  PNT.O  rise 11.2% to $10.63
    ** Co reports smaller-than-expected Q1 2023 adj. loss of
16/shr, vs ests of loss of 31 cents/shr - Refinitiv
    ** Expects quarter-end cash, equivalents and investment
balance of $519.2 mln to fund operations into 2026
    ** All 12 brokerage covering the stock rate it "buy" or
higher; their median PT is $14, as per Refinitiv data
    ** Including session gains, stock up 45.8% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))