ADAPTIMMUNE THERAPEUTICS Reports Third Quarter FY2023 Earnings Results

🌥️Earnings Overview

ADAPTIMMUNE THERAPEUTICS ($NASDAQ:ADAP) released their financial report for the third quarter of FY2023, ending on September 30 2023. This quarter saw a slight increase in total revenue, with USD 7.3 million earned, a 4.4% rise compared to the same period in the previous year. Unfortunately, the reported net income for the quarter was USD -45.6 million, a decrease from the prior year’s loss of -41.4 million.

Market Price

On Wednesday, ADAPTIMMUNE THERAPEUTICS reported their third quarter FY2023 earnings results. The stock opened the day at $0.6 and closed at the same price, however this represented a decrease of 5.6% from the previous closing price of 0.6. This downward trend indicates a lack of investor confidence in the company’s performance and potential for the coming quarter. Nevertheless, the company maintained a positive outlook moving forward and is confident in its ability to achieve long-term success. Despite the drop in stock price, Adaptimmune Therapeutics remains committed to its long-term goals. The company plans to continue investing in research and development to further innovate their products and services.

Additionally, they are focusing on expanding their reach and customer base in order to increase their market share. While the stock price may have dropped, the company remains optimistic about future prospects. With continued focus on innovation and customer service, they are confident that they can deliver strong financial results in the coming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Adaptimmune Therapeutics. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Adaptimmune Therapeutics. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Adaptimmune Therapeutics. More…

Key Ratios Snapshot

Some of the financial key ratios for Adaptimmune Therapeutics are shown below. More…

Analysis

At GoodWhale, we analyze the fundamentals of ADAPTIMMUNE THERAPEUTICS and grade its performance according to several metrics. Our Star Chart shows that the company is strong in growth, medium in asset and weak in dividend, profitability. ADAPTIMMUNE THERAPEUTICS has an intermediate health score of 4/10 with regard to its cashflows and debt, indicating that it is likely to sustain future operations in times of crisis. We classify ADAPTIMMUNE THERAPEUTICS as a ‘cheetah’ – a company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given its fundamentals, investors who are looking for high growth but are willing to accept higher risks may be interested in investing in ADAPTIMMUNE THERAPEUTICS. Such investors typically look for companies that demonstrate high growth potential with lower liquidity risk. 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 total revenue of USD 7.3 million for the third quarter of FY2023, a 4.4% increase compared to the prior year. Despite the increase in revenue, the company reported a net income loss of USD -45.6 million, a decrease from the prior year’s loss of -41.4 million. This information signals that the company is not doing well financially, as it is still not able to turn a profit despite increasing revenue. As a result, investors should proceed with caution when considering investing in Adaptimmune Therapeutics.