FATE THERAPEUTICS Reports 95% Decrease in Total Revenue for Q2 FY2023
August 13, 2023
🌥️Earnings Overview
FATE THERAPEUTICS ($NASDAQ:FATE) announced their second quarter of FY2023 results on August 8 2023, reporting total revenue of USD 0.9 million, a significant decrease of 95.0% from the same period in the prior year. Net income for the quarter was USD -52.8 million, a decrease from the prior year’s figure of -76.1 million.
Analysis
GoodWhale provides financial analysis on FATE THERAPEUTICS and has assigned the company an intermediate health score of 4/10. This score takes into consideration the company’s cashflows and debt, and suggests that FATE THERAPEUTICS will be able to pay off its debts and fund future operations. As a ‘cheetah’ type of company, FATE THERAPEUTICS has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Investors interested in this type of company could find FATE THERAPEUTICS a potentially appealing opportunity, as the company is strong in asset growth and weak in dividend and profitability. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fate Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 119.25 | -211.56 | -194.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fate Therapeutics. More…
| Operations | Investing | Financing |
| -187.79 | 176 | 3.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fate Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 584.76 | 147 | 4.45 |
Key Ratios Snapshot
Some of the financial key ratios for Fate Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 108.2% | – | -202.9% |
| FCF Margin | ROE | ROA |
| -174.9% | -33.0% | -25.9% |
Peers
The company’s product candidates include ProTmune, a natural killer cell immunotherapy that is in Phase II clinical trials for the prevention of graft-versus-host disease; and FT-4202, a natural killer cell immunotherapy that is in Phase I clinical trials for the treatment of relapsed or refractory acute myeloid leukemia. Fate Therapeutics has collaborated with MD Anderson Cancer Center, the National Cancer Institute, and the Fred Hutchinson Cancer Research Center. Arvinas is a clinical-stage biopharmaceutical company that discovers and develops therapeutics to treat patients with cancer and other diseases. Arvinas’s lead product candidate is ARV-110, an androgen receptor inhibitor that is in Phase I clinical trials for the treatment of metastatic castration-resistant prostate cancer. Mirati Therapeutics is a clinical-stage biopharmaceutical company that develops targeted therapeutics against cancer. Mirati’s lead product candidate is sitravatinib, a kinase inhibitor that is in Phase III clinical trials for the treatment of non-small cell lung cancer. Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company that discovers and develops small molecule drugs for the treatment of cancer. Syndax’s lead product candidate is entinostat, an HDAC inhibitor that is in Phase III clinical trials for the treatment of advanced breast cancer.
– Arvinas Inc ($NASDAQ:ARVN)
Arvinas Inc. is a clinical-stage biopharmaceutical company, which engages in the discovery and development of therapeutics utilizing a novel proteolysis targeting chimera platform. Its products include ARV-110, ARV-471, and ARV-161. The company was founded by Craig M. Crews in 2013 and is headquartered in New Haven, CT.
– Mirati Therapeutics Inc ($NASDAQ:MRTX)
Mirati Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel medicines to treat cancer. The company’s lead drug candidate, sitravatinib, is being studied in various Phase 2 and 3 clinical trials in several solid tumor types. In addition to sitravatinib, Mirati is also developing mocetinostat, a Phase 2 clinical stage drug candidate, and is advancing a pipeline of preclinical programs.
– Syndax Pharmaceuticals Inc ($NASDAQ:SNDX)
The company has a market cap of 1.33B as of 2022. The company’s ROE is 0.46%. The company focuses on the development of treatments for cancer and other diseases.
Summary
FATE THERAPEUTICS reported total revenue for the second quarter of FY2023 of USD 0.9 million, a decline of 95.0% from the same period in the prior year. Net income for this quarter was USD -52.8 million, a slight improvement from the prior year’s figure of -76.1 million. This suggests that there is still a significant amount of financial difficulty for the company. Investors should be aware that FATE THERAPEUTICS’ financial situation is not improving, and that there is still considerable risk associated with investing in the company.
Related Posts
Recent Posts
