ADAPTIMMUNE THERAPEUTICS Reports Financial Results for Second Quarter of FY2023
August 20, 2023
🌥️Earnings Overview
On June 30, 2023, ADAPTIMMUNE THERAPEUTICS ($NASDAQ:ADAP) released their financial results for the second quarter of the fiscal year 2023, showing total revenue of USD 5.1 million, a decrease of 7.4% from the same period in the prior year. Net income for the quarter was far more encouraging, standing at USD -21.4 million, a vast improvement from the -44.5 million reported in the same quarter of 2022.
Market Price
Their stock opened at $0.9 and closed at $0.8, down by 1.2% from last closing price of 0.9. This downward trend further weakened the stock performance of ADAPTIMMUNE THERAPEUTICS, as the company has been struggling to regain its foothold in the market. The adjusted earnings per share also decreased by 4 cents from the previous year. The company needs to devise strategies to effectively compete with other biotechnology firms in the market and bring about growth in their financial results to boost investor confidence. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Adaptimmune Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 70.77 | -91.02 | -144.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Adaptimmune Therapeutics. More…
| Operations | Investing | Financing |
| -127.16 | 100.84 | 3.06 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Adaptimmune Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 342.98 | 216.33 | 0.56 |
Key Ratios Snapshot
Some of the financial key ratios for Adaptimmune Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 216.7% | – | -154.7% |
| FCF Margin | ROE | ROA |
| -204.3% | -65.0% | -20.0% |
Analysis
We, GoodWhale, have conducted an analysis of ADAPTIMMUNE THERAPEUTICS‘s wellbeing. Our star chart shows that ADAPTIMMUNE THERAPEUTICS is strong in assets and growth, but weak in dividend and profitability. Based on this data, we have classified ADAPTIMMUNE THERAPEUTICS as ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Since ADAPTIMMUNE THERAPEUTICS is less stable, risk-seeking investors may be interested in investing in the company. However, ADAPTIMMUNE THERAPEUTICS has an intermediate health score of 4/10 with regard to its cashflows and debt, suggesting that the company might be able to safely ride out any crisis without the risk of bankruptcy. More…
Peers
The company’s T-cell therapy platform harnesses the body’s own immune system to target and kill cancer cells. Adaptimmune’s lead product candidate, ADAPT-101, is in clinical trials for the treatment of solid tumors. The company is also developing product candidates for the treatment of blood cancers. Adaptimmune’s main competitors are Iovance Biotherapeutics Inc, TCR2 Therapeutics Inc, and Adicet Bio Inc. All three companies are developing T-cell therapies for the treatment of cancer.
– Iovance Biotherapeutics Inc ($NASDAQ:IOVA)
Iovance Biotherapeutics Inc is a biopharmaceutical company that focuses on the development and commercialization of cancer immunotherapy products. The company has a market cap of 1.24B as of 2022 and a Return on Equity of -56.45%. The company’s products are based on its proprietary technology platform, which harnesses the power of the body’s immune system to recognize and kill cancer cells. Iovance Biotherapeutics Inc’s products are in clinical and commercial development stages for the treatment of various solid tumor types.
– TCR2 Therapeutics Inc ($NASDAQ:TCRR)
The company’s market cap is 49.48 million as of 2022, a return on equity of -24.78%. The company is focused on the development of immunotherapies for the treatment of cancer.
– Adicet Bio Inc ($NASDAQ:ACET)
Adicet Bio Inc is a clinical stage biopharmaceutical company focused on developing next-generation cell therapies for cancer and other intractable diseases. The company’s lead product candidate, ADI-001, is a universal donor platform cell therapy using allogeneic, or donor-derived, gamma delta T cells that can be used to treat any patient, without the need for human leukocyte antigen (HLA) matching. The company is also developing ADI-002, a natural killer cell therapy platform for the treatment of solid tumors.
Adicet Bio Inc has a market cap of 836.46M as of 2022, a Return on Equity of -9.85%. Adicet Bio is a clinical stage biopharmaceutical company focused on developing next-generation cell therapies for cancer and other intractable diseases. The company’s lead product candidate, ADI-001, is a universal donor platform cell therapy using allogeneic, or donor-derived, gamma delta T cells that can be used to treat any patient, without the need for human leukocyte antigen (HLA) matching. The company is also developing ADI-002, a natural killer cell therapy platform for the treatment of solid tumors.
Summary
ADAPTIMMUNE THERAPEUTICS reported its financial results for the second quarter of FY2023, with total revenue of USD 5.1 million, a 7.4% decrease compared to the same period last year. Net income for the period was USD -21.4 million, a dramatic improvement from the -44.5 million reported in the same quarter of the previous year. For investors, this means that the company is on track to achieve its goals of improved profitability, and despite the decrease in revenue, profitability is continuing to improve. Investors should remain cautiously optimistic about the potential for ADAPTIMMUNE THERAPEUTICS to further increase its profitability going forward.
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