FUSION PHARMACEUTICALS Releases Q2 Earnings Report for 2023
August 12, 2023
🌥️Earnings Overview
On August 8 2023, FUSION PHARMACEUTICALS ($NASDAQ:FUSN) reported its earnings for the second quarter of fiscal year 2023 (ending June 30 2023). Total revenue for the quarter was USD 0.0 million, a 94.7% decrease compared to the same period in the previous year. Net income amounted to USD -25.2 million, a decrease from the -19.1 million reported the prior year.
Stock Price
Analysts had anticipated higher earnings and were disappointed with the report. This decrease has been attributed to the rising costs of drug production, as well as the impact of the COVID-19 pandemic on the pharmaceutical industry. This decrease was largely a result of lower sales of the company’s top-selling products due to increased competition from generic pharmaceuticals. Additionally, FUSION PHARMACEUTICALS incurred higher costs associated with drug production and research and development. Despite this decrease, FUSION PHARMACEUTICALS has still managed to remain profitable. The company is looking to implement strategies to increase sales and reduce costs in the future.
In addition, FUSION PHARMACEUTICALS is also investing in developing new products and expanding their portfolio of medications in order to remain competitive and continue to be successful. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fusion Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 0.37 | -98.1 | -26656.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fusion Pharmaceuticals. More…
| Operations | Investing | Financing |
| -86.01 | -56.53 | 112.86 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fusion Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 268.29 | 65.33 | 2.95 |
Key Ratios Snapshot
Some of the financial key ratios for Fusion Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -25923.4% |
| FCF Margin | ROE | ROA |
| -24215.5% | -29.5% | -22.2% |
Analysis
At GoodWhale, we conducted an analysis of FUSION PHARMACEUTICALS‘ fundamentals. Based on our Star Chart, FUSION PHARMACEUTICALS is strong in assets and growth, but weak in dividend and profitability. We classified FUSION PHARMACEUTICALS as a ‘rhino’, which means the company has achieved moderate revenue or earnings growth. Given these characteristics, investors who are looking for steady long-term returns are likely to be attracted to FUSION PHARMACEUTICALS. However, despite its growth potential, FUSION PHARMACEUTICALS has a low health score of 3/10. This implies that it is less likely to be able to pay off its debt and fund its future operations. More…
Peers
The company is based in Canada and is listed on the Toronto Stock Exchange. The company’s main competitors are Qualigen Therapeutics Inc, PhaseBio Pharmaceuticals Inc, and VYNE Therapeutics Inc.
– Qualigen Therapeutics Inc ($NASDAQ:QLGN)
Qualigen Therapeutics Inc is a clinical-stage biopharmaceutical company, which focuses on the development and commercialization of therapeutic products for the treatment of cancer. The company’s products include Q-NAP, a targeted therapy for the treatment of solid tumors, and Q-Octreotide, a long-acting somatostatin analog for the treatment of acromegaly and neuroendocrine tumors. Qualigen Therapeutics Inc was founded by Robert W. Duggan and Richard A. Lerner in 1997 and is headquartered in San Diego, CA.
– PhaseBio Pharmaceuticals Inc ($NASDAQ:PHAS)
VYNE Therapeutics Inc is a publicly traded company that focuses on developing therapies for patients with cancer. The company’s market cap is 15.43M as of 2022 and its ROE is -78.86%. VYNE Therapeutics Inc’s primary goal is to develop therapies that improve the lives of patients with cancer.
Summary
Fusion Pharmaceuticals released its second quarter fiscal year 2023 earnings report with a 94.7% decrease in total revenue and a net loss of USD -25.2 million. This is significantly larger than the USD -19.1 million reported for the same period last year. Investors should consider the decreased revenue and net loss when evaluating potential investments in Fusion Pharmaceuticals. It is also important to look at the company’s future prospects, such as any planned initiatives or strategies, prior to making an investment decision.
