Overview
Generation Bio Q3 net loss improves to $5.5 mln from $15.3 mln last year
Company's collaboration revenue declines sharply in Q3
Lease settlement results in $25.5 mln gain on lease termination
Outlook
Company expects cash reserves to fund operations for foreseeable future
Result Drivers
LEASE SETTLEMENT - Co recorded a $25.5 mln gain from a lease termination settlement
INCREASED EXPENSES - R&D and G&A expenses rose due to ongoing investments
COLLABORATION REVENUE DECLINE - Co's collaboration revenue fell significantly in Q3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Collaboration Revenue | $1.59 mln | ||
Q3 EPS | -$0.82 | ||
Q3 Net Income | -$5.52 mln | ||
Q3 Basic EPS | -$0.82 | ||
Q3 Operating Expenses | $8.30 mln | ||
Q3 Operating Income | -$6.71 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "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 Generation Bio Co is $13.50, about 61.1% above its November 4 closing price of $5.25
Press Release: ID:nGNX2l50tv
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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.)