AADI BIOSCIENCE Reports Q2 FY2023 Financial Performance on August 9, 2023
August 11, 2023
🌥️Earnings Overview
On August 9, 2023, AADI BIOSCIENCE ($NASDAQ:AADI) reported their financial performance for the second quarter of FY2023 with total revenue of USD 6.2 million, which was an 80.2% year-on-year increase. Reported net income was USD -18.0 million, a slight improvement from the previous year’s results of -18.3 million.
Price History
The report showed that AADI BIOSCIENCE stock opened at $5.8 and closed at $5.4, suffering a drop of 6.8% from its last closing price of $5.8. This 6.8% drop in price was attributed to a decrease in revenue reported by the company for the quarter. This increase in expenses is largely attributed to the company’s focus on research and development activities to further strengthen their portfolio of products. This increase in gross profit margin was largely attributed to cost cutting measures implemented by the company during the quarter.
Overall, despite the drop in stock price, AADI BIOSCIENCE’s Q2 FY2023 financial performance report showed positive signs for the company. With increased gross profit margin and cost cutting measures, AADI BIOSCIENCE is well positioned to grow and perform better in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Aadi Bioscience. More…
| Total Revenues | Net Income | Net Margin |
| 21.54 | -61.58 | -285.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Aadi Bioscience. More…
| Operations | Investing | Financing |
| -57.57 | -65.73 | 72.73 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Aadi Bioscience. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 151.23 | 19.81 | 5.38 |
Key Ratios Snapshot
Some of the financial key ratios for Aadi Bioscience are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -284.8% |
| FCF Margin | ROE | ROA |
| -277.7% | -27.6% | -25.4% |
Analysis
At GoodWhale, we recently conducted an analysis of the fundamentals of AADI BIOSCIENCE. After careful consideration, we determined that AADI BIOSCIENCE is a high risk investment in terms of both financial and business aspects. Specifically, we detected two risk warnings in the cashflow statement and financial journal. If you’re interested in further exploring the risks associated with investing in AADI BIOSCIENCE, register with us to gain access to our insights. We believe that it is important to be informed about any potential risks before investing, and so we make sure to provide the most up-to-date and accurate information available. With our help, you can make a more informed decision and ultimately find the best investment for your needs. More…
Peers
Its competitors include Avalo Therapeutics Inc, Kronos Bio Inc, and Relay Therapeutics Inc.
– Avalo Therapeutics Inc ($NASDAQ:AVTX)
Avalo Therapeutics Inc is a clinical stage biopharmaceutical company with a focus on developing cancer treatments. The company has a market cap of $57.43 million and a return on equity of -21403.38%. The company’s primary focus is on developing treatments for solid tumors and hematologic malignancies.
– Kronos Bio Inc ($NASDAQ:KRON)
Kronos Bio Inc is a clinical stage biopharmaceutical company focused on discovering and developing novel cancer therapies. The company’s lead product candidate is entospletinib, a selective inhibitor of the tyrosine kinase domain of the epidermal growth factor receptor (EGFR). Kronos Bio Inc has a market cap of 165.77M as of 2022, a Return on Equity of -33.99%. The company’s products are still in development, and it has yet to generate any revenue.
– Relay Therapeutics Inc ($NASDAQ:RLAY)
Relay Therapeutics is a biopharmaceutical company that focuses on the development of cancer treatments. The company has a market cap of 2.7 billion as of 2022 and a return on equity of -20.87%. The company’s products are designed to target key proteins in cancer cells and to promote cell death. Relay Therapeutics is headquartered in Boston, MA.
Summary
AADI Bioscience recently reported its financial performance for the second quarter of FY2023, with total revenue of USD 6.2 million and a year-on-year increase of 80.2%. The reported net income of -18.0 million was slightly better than the previous year’s figure (-18.3 million). Despite this positive news, the AADI Bioscience stock price dropped on the same day, indicating investors have concerns about the company’s prospects. Investors should carefully consider the company’s financials and future outlook before deciding whether to invest in AADI Bioscience.
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