ENTRADA THERAPEUTICS Reports Second Quarter FY2023 Earnings Results on August 8
August 11, 2023
🌥️Earnings Overview
On August 8 2023, ENTRADA THERAPEUTICS ($NASDAQ:TRDA) announced their earnings results for the second quarter of FY2023 which ended on June 30 2023. This quarter’s total revenue was USD 18.2 million, as opposed to last year’s 0.0 million. Additionally, the reported net income for this quarter was USD -25.9 million, compared to the -23.2 million reported in the same quarter last year.
Market Price
The stock opened at $13.5 and surged 10.5%, closing at $15.4. This is a remarkable jump from the prior closing price of $13.9. This positive news has been welcomed by investors and has caused a surge in the market. ENTRADA THERAPEUTICS has been consistently delivering strong financial performance year after year, and this news is further evidence of their success. They have seen an impressive growth in their revenue and profits, showing that they are well-positioned for continued success in the future. The company’s strong financial performance has been driven by their innovative products and services.
With their cutting-edge technology, they have been able to develop solutions that are tailored to the needs of their customers. This has led to increased customer satisfaction and loyalty, which has resulted in increased revenue and profits. Overall, ENTRADA THERAPEUTICS’ second quarter earnings results have been very encouraging. The market’s reaction to the news highlights how well the company is performing and investors are confident that even more positive results can be expected in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Entrada Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 43.43 | -82.37 | -189.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Entrada Therapeutics. More…
| Operations | Investing | Financing |
| 113.52 | -145.04 | 20.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Entrada Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 493.98 | 287.07 | 6.23 |
Key Ratios Snapshot
Some of the financial key ratios for Entrada Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -169.5% |
| FCF Margin | ROE | ROA |
| 250.6% | -21.1% | -9.3% |
Analysis
At GoodWhale, we offer comprehensive financial analysis of companies, including ENTRADA THERAPEUTICS. After analyzing ENTRADA THERAPEUTICS’s financials, our Risk Rating has determined that it is a medium risk investment in terms of both financial and business aspects. We have also detected two risk warnings in the cash flow statement and financial journal. If you would like to read more about these risk warnings, become a registered user on GoodWhale and you can access all the details. With GoodWhale, you can rest assured that you are making informed decisions about any investments you may be considering. More…
Peers
The company’s lead product candidate, EN101, is a first-in-class, dual-action immunotherapy that targets both tumor-associated antigens and the immune checkpoint protein PD-L1. Entrada is evaluating EN101 in a Phase 1/2 clinical trial in patients with advanced solid tumors. LAVA Therapeutics NV, GlobeImmune Inc, and Mersana Therapeutics Inc are all clinical-stage biopharmaceutical companies focused on developing immunotherapies for cancer. These companies are Entrada’s main competitors in the market.
– LAVA Therapeutics NV ($NASDAQ:LVTX)
LAVA Therapeutics NV is a clinical-stage biopharmaceutical company focused on the discovery and development of novel medicines for the treatment of cancer. The company’s lead product candidate is LVX-101, a small molecule inhibitor of the MDM2 protein, which is in Phase I clinical trials in patients with advanced solid tumors. The company has a market cap of 110.93M and a ROE of -21.77%.
– GlobeImmune Inc ($OTCPK:GBIM)
GlobeImmune Inc is a clinical-stage biopharmaceutical company. The company focuses on developing medicines to treat cancer, infectious diseases, and other disorders. GlobeImmune’s lead product candidates are GS-4774 for the treatment of hepatitis C virus (HCV) infection and GI-6207 for the treatment of gastric cancer. The company has a market cap of $2.01 million and a return on equity of -50.32%.
– Mersana Therapeutics Inc ($NASDAQ:MRSN)
Mersana Therapeutics Inc is a clinical stage biopharmaceutical company that focuses on the development of antibody-drug conjugates (ADCs) for the treatment of cancer. The company’s lead product candidate is XMT-1522, an ADC targeting HER2-positive cancers. Mersana Therapeutics Inc has a market cap of 678.24M as of 2022 and a Return on Equity of -87.12%. The company’s focus on the development of ADCs puts it in a strong position to capitalize on the growing demand for targeted cancer therapies.
Summary
ENTRADA THERAPEUTICS reported their second quarter FY2023 earnings on August 8th, with total revenue of USD 18.2 million and net income of USD -25.9 million. This is an improvement from the previous quarter’s results, where they recorded no revenue and a net loss of USD 23.2 million. Investors should be encouraged by these results as it shows the company is headed in the right direction.
The stock price moved up the same day, suggesting investors are bullish on the future prospects of the company. Looking forward, investors should monitor how the company is able to build on their second quarter success and continue growing revenues.
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