ADAPTIMMUNE THERAPEUTICS Reports Second Quarter Earnings for FY2023 on August 9, 2023
August 13, 2023
🌥️Earnings Overview
On August 9, 2023, ADAPTIMMUNE THERAPEUTICS ($NASDAQ:ADAP) released its earnings for the second quarter of fiscal year 2023, ending June 30, 2023. Their total revenue had decreased 7.4% compared to the same quarter in the prior year, amounting to USD 5.1 million. However, their net income was pleasingly much improved from the prior year’s figure of -44.5 million, coming in at -21.4 million.
Market Price
The stock opened at $0.9 and closed at $0.8, down 1.2% from the previous closing price of 0.9. The company’s primary focus is on the development of T-cell therapies which are designed to harness the power of the body’s immune system to help recognize and attack cancer cells. These results indicate a successful quarter for ADAPTIMMUNE THERAPEUTICS and provide a strong foundation for further growth in the coming quarters. Overall, the second quarter earnings report from ADAPTIMMUNE THERAPEUTICS provides investors with a positive outlook for the company’s future prospects.
Despite the short-term decrease in the stock price, the company is well-positioned to continue its growth in the long-term. Investors should watch for further updates from ADAPTIMMUNE THERAPEUTICS as they continue to develop their innovative cancer immunotherapies. 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
Analyzing ADAPTIMMUNE THERAPEUTICS on GoodWhale reveals a medium risk investment in terms of financial and business aspects. The Risk Rating algorithm takes into account the company’s financials from balance sheet, cashflow statement, and financial journal to give a broad overview of its financial health. GoodWhale has detected 3 risk warnings which can give investors further insights into the company’s performance. You can register on goodwhale.com to view the full list of risk warnings and determine whether ADAPTIMMUNE THERAPEUTICS is an appropriate investment for your portfolio. In addition to risk warnings, GoodWhale also provides analysis of a company’s performance, including key metrics, industry comparisons, and growth trends. 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 has reported their second quarter results for FY2023, showing a 7.4% decrease in total revenue over the same period last year. Despite this, the company has seen a significant improvement in net income, going from a loss of -44.5 million last year to -21.4 million this quarter. This indicates that the company’s effectiveness in controlling costs has increased, despite lower revenues. Investors may want to keep an eye on the company’s financials going forward to determine whether their cost-cutting strategies are effective in the long run.
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