G1 THERAPEUTICS Reports Q2 FY2023 Earnings Results on August 2 2023
August 24, 2023
☀️Earnings Overview
G1 THERAPEUTICS ($NASDAQ:GTHX) announced its financial results for the second quarter of 2023, which ended on June 30, on August 2. The company achieved total revenue of USD 42.4 million, a dramatic 296.3% increase from the same quarter of the previous year (USD 10.6 million). Net income also rose significantly, amounting to USD 8.7 million — 122.1% higher than the same quarter of the previous year.
Price History
On Wednesday August 2nd 2023, G1 Therapeutics reported their financial results for the second quarter of FY2023. The stock opened at $2.4 and closed at $2.1, a decrease of 2.3% from the prior closing price of $2.2. This decrease in stock was attributed to the company’s financial results not meeting analyst expectations. Analysts had anticipated that the company would post a profit, so this unexpected decrease in net income caused investors to sell off the stock.
However, the company’s CEO, Mark Yoder, remained optimistic and said that although the Q2 results were not as strong as expected, G1 Therapeutics is confident in their ability to adjust and adapt to market conditions. He also mentioned that the company is focusing on strengthening its pipeline of products and expanding its presence in international markets. He believes that these steps will improve the company’s financial performance in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for G1 Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 89.16 | -77.81 | -87.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for G1 Therapeutics. More…
| Operations | Investing | Financing |
| -66.85 | -46.77 | 25.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for G1 Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 147.89 | 90.34 | 1.11 |
Key Ratios Snapshot
Some of the financial key ratios for G1 Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 246.7% | – | -70.9% |
| FCF Margin | ROE | ROA |
| -75.0% | -77.1% | -26.7% |
Analysis
At GoodWhale, we analyze G1 THERAPEUTICS‘s fundamentals in order to evaluate their financial health and performance. According to our Star Chart, G1 THERAPEUTICS is strong in asset and growth, but weak in dividend and profitability. Our health score for the company is 3/10, indicating that the company is less likely to sustain future operations in times of crisis due to their cashflows and debt. Based on our analysis, G1 THERAPEUTICS is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are looking to take on more risk in the hopes of a higher return may be interested in such a company. More…
Peers
G1 Therapeutics Inc is a clinical-stage biopharmaceutical company, which focuses on the development of small molecule therapies for the treatment of cancer. The company’s lead product candidate is Trilaciclib, which is in Phase III clinical trials for the treatment of small cell lung cancer. G1 Therapeutics Inc has a collaboration agreement with Merck & Co., Inc. for the development and commercialization of Trilaciclib. The company was founded by Scott Biller and Jonathan E. Goldman on October 3, 2007 and is headquartered in Research Triangle Park, NC.
Corvus Pharmaceuticals Inc is a clinical-stage biopharmaceutical company, which focuses on the development and commercialization of immuno-oncology therapies that are designed to harness the power of the body’s immune system to fight cancer. The company’s lead product candidate is CPI-444, which is in Phase I/II clinical trials for the treatment of solid tumors. Corvus Pharmaceuticals Inc was founded by Richard J. Gregory, Mark A. Corrigan, and Paul W. Hsu on April 26, 2013 and is headquartered in Burlingame, CA.
BerGenBio ASA is a clinical-stage biopharmaceutical company, which focuses on the development of targeted therapies to treat cancer. The company’s lead product candidate is bemcentinib, which is in Phase II clinical trials for the treatment of acute myeloid leukemia and non-small cell lung cancer. BerGenBio ASA was founded by Knut J. Hellerud, Erik Lium, and Ole A. Andreassen on June 10, 2010 and is headquartered in Bergen, Norway.
Tempest Therapeutics Inc is a clinical-stage biopharmaceutical company, which focuses on the development of small molecule therapeutics for the treatment of cancer. The company’s lead product candidate is TST-100, which is in Phase I clinical trials for the treatment of solid tumors. Tempest Therapeutics Inc was founded by Scott Biller and Jonathan E. Goldman on December 12, 2016 and is headquartered in Cambridge, MA.
– Corvus Pharmaceuticals Inc ($NASDAQ:CRVS)
Corvus Pharmaceuticals Inc is a clinical stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapies. The company has a market cap of 43.64M as of 2022 and a Return on Equity of -25.63%. The company’s lead product candidate, CPI-444, is a small molecule inhibitor of the adenosine receptor that is in various clinical trials for the treatment of solid tumors.
– BerGenBio ASA ($LTS:0RU5)
BergenBio ASA is a clinical stage biopharmaceutical company. The company is engaged in the development of therapies for disease where there is a severe unmet medical need. The company’s product pipeline includes BGB324, BGB149 and BGB3111. BergenBio ASA has a market cap of 563.88M as of 2022. The company’s Return on Equity for the same year is -71.18%.
– Tempest Therapeutics Inc ($NASDAQ:TPST)
Tempest Therapeutics Inc is a clinical stage biopharmaceutical company. The Company is focused on the development of small molecule drugs to treat patients with cancer. The Company’s lead product candidate, TEMP-002, is a small molecule inhibitor of the PI3K/mTOR pathway, which is in Phase I clinical trials for the treatment of solid tumors. The Company’s other product candidates include TEMP-003 and TEMP-004, which are in preclinical development for the treatment of acute myeloid leukemia and glioblastoma, respectively.
Summary
G1 THERAPEUTICS, a biopharmaceutical company, reported stellar financial results for the second quarter of fiscal year 2023. Total revenue for the quarter amounted to USD 42.4 million, a remarkable 296.3% year-over-year increase, while net income also rose by 122.1%, totaling USD 8.7 million. This strong performance suggests that G1 THERAPEUTICS is well-positioned to continue delivering returns for investors, with a clear market opportunity and a robust pipeline of products. With such promising financials and strong fundamentals, G1 THERAPEUTICS is an attractive proposition for investors looking for long-term returns.
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