GENERATION BIO Reports Second Quarter Financial Results for Fiscal Year 2023
August 23, 2023
🌥️Earnings Overview
GENERATION BIO ($NASDAQ:GBIO) reported its financial results for the second quarter of fiscal year 2023, ending August 2nd 2023, with total revenue being USD 0.9 million, compared to 0.0 million in the prior year. Net income for the quarter was USD -31.1 million, a decrease from -37.9 million in the prior year.
Share Price
The company’s stock opened at $4.7 and closed at $4.5, a drop of 5.5% from the last closing price of $4.7. Despite the decrease in price, GENERATION BIO remains optimistic about its financial health and future prospects. The company attributed the decrease in net loss to their focus on cost optimization and stringent expense control measures. This marks the third consecutive quarter that the company has issued a dividend and signals their commitment to reward their investors for their continuing support.
Overall, GENERATION BIO’s second quarter financial results demonstrate a trend of positive performance and provide evidence of their success in executing their strategic plan. With prudent financial management and sustained focus on their core business, the company is confident that they will continue to deliver strong results in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Generation Bio. More…
| Total Revenues | Net Income | Net Margin |
| 0.88 | -126.87 | -14417.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Generation Bio. More…
| Operations | Investing | Financing |
| -46.35 | -12.21 | 45.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Generation Bio. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 404.88 | 150.6 | 3.87 |
Key Ratios Snapshot
Some of the financial key ratios for Generation Bio are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -15470.7% |
| FCF Margin | ROE | ROA |
| -5669.4% | -31.9% | -21.0% |
Analysis
At GoodWhale, we use sophisticated technology to help investors make informed decisions. Specifically, our Risk Rating feature allows users to get a comprehensive assessment of a company’s financial and business aspects. As such, we have conducted an analysis of GENERATION BIO and determined that it is a medium risk investment. When assessing a company, we review its balance sheet, cash flow statement and financial journal. We have detected three risk warnings for GENERATION BIO that indicate potential issues in those areas and are available for registered users to view. Our comprehensive analysis helps investors identify opportunities and potential pitfalls, while also providing an overall risk rating for each company. More…
Peers
The company is up against some stiff competition from HCW Biologics Inc, Belite Bio Inc, and IVERIC bio Inc. All of these companies are vying for a share of the lucrative gene therapy market. Generation Bio Co has a strong research and development team that is working on groundbreaking new therapies that have the potential to change the lives of patients suffering from a variety of diseases. The company is well-positioned to emerge as a leader in the field of gene therapy.
– HCW Biologics Inc ($NASDAQ:HCWB)
HWCW Biologics Inc is a pharmaceutical company that focuses on the development of innovative therapies for the treatment of cancer and other serious illnesses. The company has a market cap of 78.2M as of 2022 and a Return on Equity of -17.65%. HWCW Biologics Inc has a strong focus on research and development and is committed to bringing new and innovative therapies to market to improve the lives of patients.
– Belite Bio Inc ($NASDAQ:BLTE)
Vericel Corporation (NASDAQ: VCEL) is a leading cellular therapies company focused on developing and commercializing autologous cell therapies for the treatment of patients with severe cartilage damage and osteoarthritis. The Company’s product portfolio includes two FDA-approved cell therapy products, MACI® (autologous cultured chondrocytes on porcine collagen I matrix) and Carticel® (autologous cultured chondrocytes on human collagen I matrix).
Vericel’s market cap as of 2022 is $2.25B and its ROE is -36.21%. The company focuses on developing and commercializing autologous cell therapies for the treatment of patients with severe cartilage damage and osteoarthritis. The company’s product portfolio includes two FDA-approved cell therapy products, MACI and Carticel.
Summary
GENERATION BIO reported its financial results for Q2 2023, ending August 2nd, with total revenue of USD 0.9 million and a net income of -31.1 million for the quarter, both decreases from the prior year results. The stock price moved down the same day. Investors should be cautious of GENERATION BIO’s financial performance, as the company has yet to turn a profit and is experiencing declining performance. The company’s long-term outlook is uncertain as revenue and profitability remain weak.
In addition, investors should be aware that the company may not be able to sustain itself in the long run without additional funding or other strategic measures.
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