CIDARA THERAPEUTICS Reports 22.3% Revenue Increase for Q2 FY2023
August 10, 2023
☀️Earnings Overview
For the second quarter of FY2023 ending June 30 2023, CIDARA THERAPEUTICS ($NASDAQ:CDTX) reported total revenue of USD 7.6 million, a 22.3% increase from the same period of the previous year. Net income for the quarter was USD -12.4 million, an improvement on the result of -13.1 million experienced in the same period of the previous year.
Analysis
GoodWhale has conducted an in-depth analysis of CIDARA THERAPEUTICS’s financials. According to their Risk Rating, CIDARA THERAPEUTICS is a medium risk investment in terms of both financial and business aspects. After conducting the analysis, GoodWhale has detected two risk warnings in CIDARA THERAPEUTICS’s income sheet and balance sheet. In order to view this information, users must become a registered user on the GoodWhale platform. This will give them access to the detailed risk warnings and allow them to make an informed decision about their investment in the company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cidara Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 84.57 | -7.55 | -8.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cidara Therapeutics. More…
| Operations | Investing | Financing |
| -1.1 | -0.22 | 26.75 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cidara Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 67.99 | 52.57 | 0.17 |
Key Ratios Snapshot
Some of the financial key ratios for Cidara Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 46.6% | – | -9.7% |
| FCF Margin | ROE | ROA |
| -1.6% | -24.3% | -7.5% |
Peers
The competition in the market for drugs to treat obesity is heating up.
However, it faces stiff competition from Rhythm Pharmaceuticals Inc, Akeso Inc, and Poxel SA, who are all working on their own new drugs to treat obesity. The race is on to see who can develop the most effective and safe drug to help people lose weight and keep it off.
– Rhythm Pharmaceuticals Inc ($NASDAQ:RYTM)
The company’s market cap is $1.3 billion and its ROE is -55.93%. The company is engaged in the development and commercialization of therapies for the treatment of genetic disorders. The company’s products include Setrusumab, which is used to treat patients with hereditary angioedema; and Firdapse, which is used to treat patients with Lambert-Eaton myasthenic syndrome.
– Akeso Inc ($SEHK:09926)
As of 2022, Akeso Inc has a market cap of 25.19B and a Return on Equity of -32.08%. The company is a healthcare services company that provides services to patients with chronic conditions.
– Poxel SA ($LTS:0RA2)
Poxel SA is a pharmaceutical company that focuses on the development and commercialization of innovative therapies for the treatment of diabetes and other metabolic diseases. The company has a market capitalization of 44.51 million as of 2022 and a return on equity of -705.2%. The company’s products include Imeglimin, which is in Phase III clinical development for the treatment of type 2 diabetes, and PXL065, which is in Phase II clinical development for the treatment of type 2 diabetes and non-alcoholic steatohepatitis.
Summary
Cidara Therapeutics is a promising investment opportunity, with revenue for the second quarter of FY2023 increasing 22.3% from the previous year to USD 7.6 million. Despite a net income loss of -12.4 million for the quarter, this is an improvement compared to the previous year, indicating a positive trend. Cidara Therapeutics has potential to provide investors with solid returns in the long run and is worth considering for those looking to diversify their portfolios.
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