Generation Bio's Q3 net loss narrows to $5.5 mln

Reuters
Nov 06
<a href="https://laohu8.com/S/GBIO">Generation Bio</a>'s Q3 net loss narrows to $5.5 mln

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.)

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