CYMABAY THERAPEUTICS Reports Second Quarter FY2023 Earnings Results on June 30, 2023
August 17, 2023
🌥️Earnings Overview
On June 30, 2023, CYMABAY THERAPEUTICS ($NASDAQ:CBAY) announced its financial results for Q2 of FY2023. The company’s total revenue was USD 31.0 million, a significant increase from zero in the prior year. Furthermore, its net income for the quarter was -0.81 million, which was a great improvement over the -27.09 million loss in the same period of the prior year.
Stock Price
CYMABAY THERAPEUTICS reported its second quarter earnings results on Thursday, June 30, 2023. The company’s stock opened at $12.6 and closed the day at $13.0, up by 2.6% from the previous closing price of $12.6. This is a significant increase in CYMABAY THERAPEUTICS’ stock prices, suggesting a positive outlook for the company. The second quarter of FY2023 was a successful one for CYMABAY THERAPEUTICS, with the company reporting increased profits and higher revenue numbers compared to its prior quarters. With strong financial performance, CYMABAY THERAPEUTICS has been able to acquire new assets and expand its portfolio.
Moreover, the company has been able to reduce its debts, giving it more financial flexibility in the future. The earnings results are an indication of CYMABAY THERAPEUTICS’ continued success and growth in the coming year. Investors have shown confidence in the company’s performance, with strong stock prices. Investors can expect that CYMABAY THERAPEUTICS will continue to experience positive returns as the financial year progresses. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cymabay Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 31.02 | -80.72 | -260.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cymabay Therapeutics. More…
| Operations | Investing | Financing |
| -55.28 | -56.12 | 94.13 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cymabay Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 226.65 | 118.24 | 1.11 |
Key Ratios Snapshot
Some of the financial key ratios for Cymabay Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -205.7% |
| FCF Margin | ROE | ROA |
| -179.2% | -37.5% | -17.6% |
Analysis
As GoodWhale conducted an analysis of CYMABAY THERAPEUTICS‘ wellbeing, we classified them as a ‘cheetah’ company on our Star Chart. This type of company is usually characterized by high revenue or earnings growth but lower profitability. For these reasons, investors who are looking for fast and high returns may be interested in such companies. Upon further analysis, we concluded that CYMABAY THERAPEUTICS is strong in assets and growth, yet weak in dividends and profitability. Nevertheless, their health score is only 3 out of 10 due to their cashflows and debt. This indicates that CYMABAY THERAPEUTICS is less likely to sustain operations in times of crisis. More…
Peers
The competition in the pharmaceutical industry is fierce. Companies are constantly vying for market share and mind share. CymaBay Therapeutics Inc is no exception. The company competes with Acumen Pharmaceuticals Inc, Rocket Pharmaceuticals Inc, and Corvus Pharmaceuticals Inc. All of these companies are striving to develop the best products and therapies to help patients.
– Acumen Pharmaceuticals Inc ($NASDAQ:ABOS)
Acumen Pharmaceuticals Inc is a pharmaceutical company with a market cap of 322.81M as of 2022. The company has a Return on Equity of -9.46%. Acumen Pharmaceuticals Inc is a specialty pharmaceutical company that focuses on the development and commercialization of prescription drugs for the treatment of serious and life-threatening diseases. The company’s product pipeline includes products for the treatment of cancer, infectious diseases, and cardiovascular and central nervous system disorders.
– Rocket Pharmaceuticals Inc ($NASDAQ:RCKT)
Roche Pharmaceuticals Inc is a global healthcare company that focuses on the research, development, manufacture and commercialization of innovative pharmaceutical and diagnostic products. Its products and services address the prevention, diagnosis and treatment of diseases in six therapeutic areas: immunology, oncology, infectious diseases, ophthalmology, neuroscience and transplantation. The company has a market cap of 1.32B as of 2022 and a ROE of -46.52%. Roche’s products and services are sold in over 150 countries through a network of more than 2,000 distributors and wholesalers.
– Corvus Pharmaceuticals Inc ($NASDAQ:CRVS)
Corvus Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapies. The company’s lead product candidate, CPI-444, is a small molecule antagonist of the adenosine A2A receptor being evaluated in a Phase 1/2 clinical trial in patients with various solid tumors, as well as in combination with other immuno-oncology agents.
Summary
CYMABAY THERAPEUTICS had a strong second quarter of FY2023, with total revenue of USD 31.0 million compared to zero the previous year. Net income for the quarter was USD -0.81 million, a significantly improved result from the -27.09 million loss in the same period last year. Investors should be encouraged by this performance as it indicates that the company is on track to deliver growth in the future.
It also shows that CYMABAY THERAPEUTICS is managing its costs and expenses appropriately. It is likely that investors will remain optimistic about the company’s prospects going forward.
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