CYTOMX THERAPEUTICS Releases 2nd Quarter FY2023 Earnings Report
August 14, 2023
🌥️Earnings Overview
On August 8 2023, CYTOMX THERAPEUTICS ($NASDAQ:CTMX) released their earnings report for the second quarter of FY2023, revealing that total revenue had increased by 36.1% compared to the same quarter of the previous year, reaching USD 24.7 million. Furthermore, net income for this quarter was reported as USD -1.1 million, which represented an improvement from the -24.2 million reported in Q2 FY2022.
Stock Price
The stock opened at $1.7 and closed at the same price, leaving investors disappointed. Despite the decrease in stock, CYTOMX THERAPEUTICS reported positive earnings, including a 4% increase in revenues year-over-year.
Additionally, CYTOMX THERAPEUTICS announced its plans to expand its product line in the upcoming months, with several clinical trials already underway in the U.S., Europe, and Asia. The company is also actively investing in R&D to further its research in drug discovery and development. Overall, CYTOMX THERAPEUTICS has presented optimistic financial figures for the 2nd Quarter of FY2023, and with its plans for expansion and R&D investments, investors remain confident that the company will continue to perform even better in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cytomx Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 79.49 | -42.24 | -53.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cytomx Therapeutics. More…
| Operations | Investing | Financing |
| -51.07 | -21.19 | 0.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cytomx Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 209.19 | 294.21 | -1.27 |
Key Ratios Snapshot
Some of the financial key ratios for Cytomx Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -2.3% | – | -60.7% |
| FCF Margin | ROE | ROA |
| -65.7% | 35.1% | -14.4% |
Analysis
At GoodWhale, we conducted an analysis of CYTOMX THERAPEUTICS‘s wellbeing and performance. Our Star Chart showed that CYTOMX THERAPEUTICS has an intermediate health score of 4/10 with regard to its cashflows and debt, indicating that the company is likely to safely ride out any crisis without the risk of bankruptcy. In addition, CYTOMX THERAPEUTICS is classified as ‘rhino’, a type of company we believe has achieved moderate revenue or earnings growth. Investors looking for a company that has moderate growth potential might be interested in CYTOMX THERAPEUTICS. Our analysis showed that CYTOMX THERAPEUTICS is strong in asset management, medium in terms of growth potential and weak in dividend yield and profitability. For investors who focus on long-term returns, CYTOMX THERAPEUTICS could be an attractive option due to its stable cashflows and moderate growth potential. More…
Peers
CytomX’s lead product candidate, CX-072, is a CD37-targeting ADC in Phase 1 clinical development for the treatment of hematologic malignancies, solid tumors, and other diseases. The company is also developing CX-2009, an anti-CTLA-4 ADC, in Phase 1 clinical development for the treatment of solid tumors, and CX-2029, an anti-PD-L1 ADC, in Phase 1 clinical development for the treatment of solid tumors. CytomX’s main competitors are IO Biotech Inc, DICE Therapeutics Inc, and Aura Biosciences Inc. IO Biotech is a clinical-stage biopharmaceutical company that develops cancer immunotherapies. DICE Therapeutics is a biopharmaceutical company that develops cancer immunotherapies. Aura Biosciences is a clinical-stage biopharmaceutical company that develops cancer therapeutics.
– IO Biotech Inc ($NASDAQ:IOBT)
Incyte Corporation is a biopharmaceutical company that discovers, develops, and commercializes small molecule drugs to treat serious unmet medical needs, primarily in oncology. As of 2022, Incyte had a market capitalization of $67.43 million and a return on equity of -20.77%. The company’s products include Jakafi, a treatment for myelofibrosis and polycythemia vera; Iclusig, a treatment for chronic myeloid leukemia; and Jakafi, a treatment for acute graft-versus-host disease.
– DICE Therapeutics Inc ($NASDAQ:DICE)
DICE Therapeutics is a clinical-stage biopharmaceutical company that focuses on the development and commercialization of novel therapeutics for the treatment of cancer. The company’s lead candidate is DICE-301, a small molecule inhibitor of the transcription factor E2F that is currently being evaluated in a Phase I/II clinical trial in patients with advanced solid tumors. DICE-301 has shown preliminary efficacy in patients with advanced solid tumors, including non-small cell lung cancer, pancreatic cancer, and ovarian cancer. The company is also developing DICE-201, a small molecule inhibitor of the transcription factor c-Myc, which is currently in preclinical development.
– Aura Biosciences Inc ($NASDAQ:AURA)
Aura Biosciences Inc is a clinical-stage biopharmaceutical company developing a new class of drugs called tumor-targeted photodynamic therapies (PDTs) for the treatment of solid tumors. PDTs are a type of cancer treatment that uses light to kill cancer cells. The company’s lead product candidate, AU-011, is a PDT that is being evaluated in a Phase 1/2 clinical trial in patients with advanced solid tumors. Aura Biosciences Inc has a market cap of $365.63M as of 2022 and a Return on Equity of -21.81%. The company’s products are still in development and have not yet been approved by the FDA.
Summary
CYTOMX THERAPEUTICS released their second quarter FY2023 earnings report which showed an impressive 36.1% year-over-year increase in total revenue reaching USD 24.7 million. Net income also improved significantly, coming in at USD -1.1 million compared to the previous year’s -24.2 million. This shows CYTOMX THERAPEUTICS is gaining traction as a profitable business, making it an attractive investment for those looking for long-term growth. With the potential for further revenue growth, a strong management team, and a recent surge in share price, investing in CYTOMX THERAPEUTICS may be a wise choice for investors.
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