CYTOMX THERAPEUTICS Reports Financial Results for Third Quarter of FY2023
November 20, 2023
🌥️Earnings Overview
On November 7, 2023, CYTOMX THERAPEUTICS ($NASDAQ:CTMX) reported financial results for the third quarter of FY2023, ending September 30, 2023. Total revenue for the quarter was a substantial USD 26.4 million, representing a 55.9% increase when compared to the same period in the previous year. Additionally, net income totaled USD 3.0 million, representing a remarkable 112.8% increase from the same period in the prior year.
Share Price
The stock opened at $1.3 and closed at $1.3, up by 0.8% from the prior closing price of $1.3. This was an encouraging result for company investors, as it indicates that CYTOMX THERAPEUTICS is growing in value. This suggests that the company’s strategies are paying off and it is continuing to grow its profitability.
Overall, it appears that CYTOMX THERAPEUTICS is continuing to perform well and increase its stock value. With these positive financial results, investors can feel confident in the future of the company. 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 |
| 94.73 | -10.18 | -10.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cytomx Therapeutics. More…
| Operations | Investing | Financing |
| -35.47 | -63.72 | 30.18 |
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 |
| 221.17 | 272.4 | -0.76 |
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 |
| 0.9% | – | -16.2% |
| FCF Margin | ROE | ROA |
| -38.2% | 14.1% | -4.3% |
Analysis
GoodWhale has conducted an analysis of CYTOMX THERAPEUTICS to assess how well the company is performing. Based on our Star Chart, CYTOMX THERAPEUTICS has an intermediate health score of 4/10. The score indicates that the company could sustain future operations during times of financial crisis, but could be improved. CYTOMX THERAPEUTICS is classified as a ‘rhino’, meaning that it has achieved moderate revenue or earnings growth. Depending on the specific needs of the investor, this type of company may be appealing. For example, CYTOMX THERAPEUTICS is strong in asset, medium in growth and weak in dividend and profitability. This type of company may be an attractive option for long-term investors who are looking for a steady return on their investment with minimal risk. Overall, CYTOMX THERAPEUTICS is performing well, but there is room to improve. It’s important to keep an eye on the company’s performance, cashflows, and debt levels in order to ensure that it can continue to provide a return on investment. By taking these factors into consideration, investors can make informed decisions about whether CYTOMX THERAPEUTICS is a good fit for their portfolio. 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 reported strong financial results for the third quarter of FY2023 with total revenue increasing by 55.9% to USD 26.4 million and net income soaring 112.8% to USD 3.0 million from the same period a year ago. The impressive growth is indicative of the company’s strong performance and suggests potential for further growth in the future. Investors may be attracted to the company’s future prospects and increasingly strong financials, making it a worthy investment opportunity.
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