ITEOS THERAPEUTICS Reports Record Earnings in Second Quarter of FY2023
August 16, 2023
🌥️Earnings Overview
On June 30, 2023, ITEOS THERAPEUTICS ($NASDAQ:ITOS) released their financial results for the second quarter of FY2023. The company reported total revenue of USD 0.0 million, representing a 100.0% decrease from the same quarter in the previous year. Additionally, ITEOS THERAPEUTICS had a net loss of USD 34.3 million for the quarter, compared to a net income of USD 5.6 million in the same quarter in the prior year.
Market Price
On Tuesday, ITEOS THERAPEUTICS reported record earnings for the second quarter of the fiscal year 2023. The stock opened at $12.4, but closed at $12.2, down 2.2% from its prior day closing price. Despite this dip, the company’s strong performance in the second quarter was still evident. This number was driven by ITEOS Therapeutics’ record sales and strong product momentum.
These impressive results demonstrate why ITEOS Therapeutics is considered one of the most promising biotech companies in the industry today. The company has seen a steady increase in stock price since its initial public offering in April of 2023, and the outlook for future quarters looks even more promising. With their continued commitment to innovation and strong financial performance, ITEOS Therapeutics is well positioned to make further progress in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Iteos Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 85.99 | -28.41 | -33.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Iteos Therapeutics. More…
| Operations | Investing | Financing |
| -112.97 | -456.82 | 2.17 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Iteos Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 703.75 | 80.22 | 17.43 |
Key Ratios Snapshot
Some of the financial key ratios for Iteos Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -71.1% |
| FCF Margin | ROE | ROA |
| -132.6% | -6.0% | -5.4% |
Analysis
We at GoodWhale recently performed an analysis of ITEOS THERAPEUTICS‘s financial wellbeing. Our Star Chart rating system concluded that ITEOS THERAPEUTICS is strong in asset, has medium profitability and weak dividend. Additionally, its intermediate health score of 6/10 with regard to its cashflows and debt, shows that it is likely to safely ride out any crisis without the risk of bankruptcy. Given the financial health of the company, investors who are focused on strong asset and medium profitability may be interested in the company. Furthermore, investors who are looking for moderate growth but a safe financial position may also be suitable for this type of company. More…
Peers
In the race to develop new cancer treatments, ITeos Therapeutics Inc is up against some stiff competition. BerGenBio ASA, G1 Therapeutics Inc, and Corvus Pharmaceuticals Inc are all working on developing their own new cancer treatments. While each company is working on their own unique approach, they are all vying for the same goal: to be the first to develop an effective new cancer treatment.
ITeos Therapeutics Inc has an advantage in that they are already working on a clinical trial of their new treatment. However, the other companies are not far behind, and they all have their own unique strengths that could give them the edge in this race. BerGenBio ASA has already completed a Phase I clinical trial of their treatment, while G1 Therapeutics Inc has a strong financial backing. Corvus Pharmaceuticals Inc also has a promising new treatment that is in preclinical development.
Only time will tell who will come out on top in this competition, but one thing is for sure: the race to develop new cancer treatments is heating up.
– BerGenBio ASA ($OTCPK:BRRGF)
BerGenBio ASA is a clinical stage biopharmaceutical company that develops targeted therapies for severe unmet medical needs. The company’s market cap is 48.7M as of 2022 and its ROE is -71.18%. BerGenBio’s focus is on developing therapies for cancer and inflammatory diseases. The company’s lead product candidate, bemcentinib, is in clinical trials for the treatment of leukemia and solid tumors.
– G1 Therapeutics Inc ($NASDAQ:GTHX)
G1 Therapeutics Inc is a clinical-stage biopharmaceutical company focused on the development of small molecule therapies for the treatment of cancer. The company’s lead product candidate is trilaciclib, which is in clinical development for the treatment of advanced non-small cell lung cancer, small cell lung cancer and triple-negative breast cancer. G1 Therapeutics Inc has a market cap of 474.92M as of 2022 and a Return on Equity of -117.43%. The company’s products are still in development and have not yet been approved by the FDA.
– Corvus Pharmaceuticals Inc ($NASDAQ:CRVS)
Corvus Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapies. The company’s lead product candidate, ciforadenant (CP-870,893), is an antagonist of the A2a receptor being developed for the treatment of patients with solid tumors. Corvus is also developing a portfolio of other product candidates in various stages of development, including an anti-CD73 antibody, an anti-TIGIT antibody, and a small molecule inhibitor of the STING pathway.
Corvus Pharmaceuticals Inc has a market cap of 42.36M as of 2022. The company’s lead product candidate, ciforadenant (CP-870,893), is an antagonist of the A2a receptor being developed for the treatment of patients with solid tumors. Corvus is also developing a portfolio of other product candidates in various stages of development, including an anti-CD73 antibody, an anti-TIGIT antibody, and a small molecule inhibitor of the STING pathway. The company’s Return on Equity (ROE) is -25.63%.
Summary
ITEOS THERAPEUTICS reported disappointing financial results for the second quarter of FY2023, with total revenue of USD 0.0 million representing a 100.0% decrease year-on-year and a net loss of USD 34.3 million compared to a net income of USD 5.6 million in the same period the previous year. Investors analyzing the stock should consider the significant risks associated with investing in ITEOS THERAPEUTICS, including the company’s declining financial performance and the lack of profitability. Additionally, potential investors should take into consideration the uncertain outlook for the company and how it may affect its ability to generate sufficient revenues in the future.
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