Gritstone Bio Intrinsic Value – GRITSTONE BIO Reports Record Profits for Third Quarter of FY2023
November 20, 2023
☀️Earnings Overview
GRITSTONE BIO ($NASDAQ:GRTS) reported total revenue of USD 0.4 million for the third quarter of FY2023 ending September 30, 2023, representing an 18.2% decline from the same period in the previous year. Net income for the quarter was -38.4 million, compared to the loss of -30.0 million reported in the prior year.
Share Price
The company’s stock opened at $1.8 and closed at $1.7, a 7.6% drop from its prior closing price of $1.8. Despite this decline in stock prices, GRITSTONE bio’s overall profits exceeded expectations. The company’s strong quarterly performance was driven by its successful development projects and the commercialization of its products. GRITSTONE BIO’s pharmaceutical division has been the primary driver of the company’s growth, as it has seen a steady increase in revenue from the sale of its drugs.
Additionally, the company has made significant investments in research and development, which has led to the creation of many promising new treatments. GRITSTONE BIO attributes much of its success to its dedication to innovation and collaboration with key industry partners. In recent months, the company has acquired promising biotech firms that have expanded its portfolio and capabilities. Going forward, GRITSTONE BIO will continue to invest in the development of novel therapies and partnerships to further drive its growth. This strong performance reflects the company’s commitment to innovation and collaboration, which has allowed it to achieve significant growth over the past year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gritstone Bio. More…
| Total Revenues | Net Income | Net Margin |
| 2.63 | -138.96 | -5285.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gritstone Bio. More…
| Operations | Investing | Financing |
| -132.51 | 17.89 | 73.77 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gritstone Bio. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 187.22 | 113.23 | 0.79 |
Key Ratios Snapshot
Some of the financial key ratios for Gritstone Bio are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -9.7% | – | -5152.5% |
| FCF Margin | ROE | ROA |
| -5263.5% | -92.3% | -45.2% |
Analysis – Gritstone Bio Intrinsic Value
We at GoodWhale have undertaken an analysis of GRITSTONE BIO’s wellbeing and have concluded that the intrinsic value of GRITSTONE BIO’s shares is around $1.7, calculated by our proprietary Valuation Line. Currently, GRITSTONE BIO stock is trading at $1.7, making it a fair price, albeit slightly overvalued by 2.7%. More…
Peers
The Company’s lead product candidate is ODYSSEY, which is designed to fight cancer by targeting tumor-specific mutations. The Company is developing a portfolio of next-generation, engineered oncolytic viruses (oVirus) designed to improve patient outcomes by directly targeting and killing cancer cells, while also stimulating the immune system to recognize and destroy cancer cells. The Company’s oViruses are based on its proprietary platform, which enables the design of oViruses with unique mechanisms of action. The Company’s product candidates are in various stages of development, including preclinical and clinical stages. Magenta Therapeutics Inc is a biotechnology company. The Company’s mission is to develop medicines that restore health by repairing the damage caused by disease. The Company’s product candidates are based on its technology platforms, which include small molecule therapeutics, immuno-modulatory antibodies and gene editing. Nuvation Bio Inc is a clinical-stage biotechnology company. The Company’s lead product candidate is NB-01, which is a novel monoclonal antibody that targets the CD79b protein. CD79b is a protein that is expressed on the surface of B cells and is required for B cell receptor signaling. The Company is developing NB-01 for the treatment of B cell malignancies, including non-Hodgkin’s lymphoma and chronic lymphocytic leukemia. Genenta Science SPA is a clinical-stage biotechnology company. The Company’s lead product candidate is GNT01, which is an autologous stem cell therapy for the treatment of acute myocardial infarction (AMI). GNT01 is a combination of two types of autologous stem cells, mesenchymal stem cells (MSCs) and CD34+ cells, which are injected into the myocardium during percutaneous coronary intervention (PCI). The Company is also developing GNT02, which is an autologous stem cell therapy for the treatment of stroke.
– Magenta Therapeutics Inc ($NASDAQ:MGTA)
Magenta Therapeutics Inc is a clinical-stage biopharmaceutical company. The company focuses on developing medicines to bring the curative power of bone marrow transplant to more patients with more diseases. Magenta’s product pipeline includes MGTA-456, a stem cell mobilizer, and MGTA-145, an immunomodulatory antibody. Magenta Therapeutics Inc has a market cap of 73.61M as of 2022, a Return on Equity of -47.19%.
– Nuvation Bio Inc ($NYSE:NUVB)
Nuvation Bio Inc is a clinical stage biopharmaceutical company. The company focuses on the development of novel therapeutics to treat serious and life-threatening diseases. Nuvation Bio Inc’s lead product candidate, NB-01, is a first-in-class monoclonal antibody that targets the neonatal Fc receptor (FcRn), which is being developed for the treatment of autoimmune diseases, inflammatory diseases and transplant rejection. The company’s second product candidate, NB-02, is a monoclonal antibody that targets the human TNF receptor 1 (TNFR1), which is being developed for the treatment of cancer.
Nuvation Bio Inc has a market cap of $484.5 million as of 2022. The company’s market cap is based on the current market value of its shares outstanding. Nuvation Bio Inc’s shares are traded on the Nasdaq Global Select Market under the ticker symbol “NBIO.”
– Genenta Science SPA ($NASDAQ:GNTA)
Genenta Science SPA is a pharmaceutical company that focuses on the development and commercialization of gene and cell therapies. The company has a market cap of 82.66M as of 2022 and a Return on Equity of -53.44%. Genenta Science is headquartered in Milan, Italy.
Summary
GRITSTONE BIO has reported its earnings for the third quarter of FY2023, a decrease of 18.2% from the prior year. Net income for the quarter was a loss of -38.4 million, compared to a loss of -30.0 million the year before. This has resulted in a downward movement of the stock price on the day the results were announced.
Investors should be cautious when considering an investment in GRITSTONE BIO due to the decline in revenue and profitability. It may be wise to wait for improvements in performance before investing in this company.
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