Sweden's SynAct Pharma posts wider Q1 net loss as expenses rise
Sweden's SynAct Pharma posts wider Q1 net loss as expenses rise
Overview
Sweden biotech firm reported no interim Q1 group's net sales and a wider net loss yr/yr
Interim operating expenses for Q1 rose 9% compared to last year
Company completed directed share issue and advanced multiple Phase 2 studies during quarter
Outlook
SynAct Pharma did not provide specific financial guidance for the current qtr or full yr
Result Drivers
SHARE ISSUE - Directed issue of new shares raised about SEK 51.9 mln, strengthening cash position
Company press release: ID:nMFN9BD2dN
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Group’s net Sales |
| SEK 0 |
|
Q1 Adjusted EPS |
| -SEK 0.48 |
|
Q1 Net Income |
| -SEK 25.49 mln |
|
Q1 Cash Flow From Operating Activities |
| -SEK 32.95 mln |
|
Q1 Operating Expenses |
| SEK 30.56 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for SynAct Pharma AB is SEK30.00, about 108.6% above its May 26 closing price of SEK14.38
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.)
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