C4 THERAPEUTICS Reports Earnings Results for Q2 of FY2023
August 26, 2023
🌥️Earnings Overview
C4 THERAPEUTICS ($NASDAQ:CCCC) reported its earnings results for the second quarter of FY2023, which ended on June 30 2023. Total revenue for the quarter was USD 2.7 million, a decrease of 80.8% year-over-year. Net income for the period was reported as USD -35.9 million, a decrease from the -27.4 million reported in the same quarter of the previous year.
Share Price
The stock opened at a price of $3.5 and closed at the same price, representing a 0.3% drop from the last closing price. Despite this slight decrease, C4 THERAPEUTICS have managed to maintain the value of their stock in the long run and have achieved steady growth throughout the quarter. The company’s sales and profits have also seen an increase due to their continued success in developing new products and services. In particular, their efforts in developing innovative biotech solutions have been well-received by the market and have helped them to gain a larger market share.
Looking ahead to the remainder of the year, C4 THERAPEUTICS is optimistic about their future prospects. They have outlined various strategies to ensure continued success in their sector and are confident that their efforts will pay off in the short- and long-term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for C4 Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 16.03 | -139.84 | -872.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for C4 Therapeutics. More…
| Operations | Investing | Financing |
| -109.27 | 97.88 | -1.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for C4 Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 375.01 | 141.3 | 4.76 |
Key Ratios Snapshot
Some of the financial key ratios for C4 Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -18.9% | – | -857.6% |
| FCF Margin | ROE | ROA |
| -717.5% | -34.6% | -22.9% |
Analysis
At GoodWhale, we believe that it’s important for investors to be informed and make educated decisions. That’s why we strive to provide comprehensive financial analysis of companies like C4 THERAPEUTICS. After carefully evaluating the company’s financials, we determined that C4 THERAPEUTICS is a medium risk investment in terms of both financial and business aspects. However, our experts have uncovered two risk warnings in the company’s balance sheet and cash flow statement. To get more information about these warnings, be sure to register on goodwhale.com and check out our reports. We are confident that this information will help you make informed decisions when investing in C4 THERAPEUTICS. More…
Peers
C4 Therapeutics Inc is a biopharmaceutical company that focuses on the development of novel small molecule therapies. The company’s main competitors are Annovis Bio Inc, Alk-Abello A/S, and Corbus Pharmaceuticals Holdings Inc. All three companies are engaged in the development of therapies for the treatment of various diseases.
– Annovis Bio Inc ($NYSE:ANVS)
Annovis Bio Inc is a clinical stage pharmaceutical company focused on the development of treatments for Alzheimer’s disease and other neurodegenerative disorders. The company’s lead product candidate, ANVS-401, is a novel small molecule that targets tau protein aggregation, a key driver of neurodegeneration. Annovis is initially targeting the early stage Alzheimer’s market, where there is a high unmet need for effective treatments.
Annovis has a market cap of 98.78M as of 2022. The company’s return on equity (ROE) is -37.92%. This means that for every dollar invested in the company, shareholders are losing 37 cents. The company’s stock price has been volatile in recent years, and it is currently trading near its 52-week low. Given the high risk/reward profile of clinical stage pharmaceutical companies, Annovis is not suitable for risk-averse investors. However, investors with a higher tolerance for risk may find the company’s potential upside attractive.
– Alk-Abello A/S ($LTS:0OIR)
Alk-Abello A/S is a Danish company that produces and sells allergy immunotherapy products. The company was founded in 1929 and has approximately 1,400 employees. The company’s products are sold in more than 60 countries. Alk-Abello A/S has a market cap of 29.51B as of 2022, a Return on Equity of 6.85%. The company’s products are designed to treat a wide range of allergies, including hay fever, pet allergies, dust allergies, and food allergies. The company’s products are available in both prescription and over-the-counter forms.
– Corbus Pharmaceuticals Holdings Inc ($NASDAQ:CRBP)
Corbus Pharmaceuticals Holdings Inc is a clinical-stage pharmaceutical company. The company focuses on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The company’s lead product candidate is anabasum, which is in Phase III clinical development for the treatment of dermatomyositis, systemic sclerosis, and cystic fibrosis.
Summary
C4 Therapeutics has reported their second quarter earnings for FY2023, with total revenue of USD 2.7 million, a decrease of 80.8%. Net income was reported as a loss of USD -35.9 million, which is worse than the prior year’s -27.4 million. This significant downturn in revenue and profit has investors concerned and analysts considering whether C4 Therapeutics is a viable long-term investment.
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