ITEOS THERAPEUTICS Reports Third Quarter FY2023 Earnings on September 30, 2023
November 21, 2023
🌥️Earnings Overview
On September 30th 2023, ITEOS THERAPEUTICS ($NASDAQ:ITOS) released their financial report for the third quarter of FY2023. Compared to Q3 of FY2022, total revenue was down 100.0%, amounting to zero dollars. Net income for the same quarter was an unfortunate USD -32.2 million as opposed to a more prosperous USD 1.0 million one year prior.
Price History
On Tuesday, ITEOS THERAPEUTICS reported their third quarter FY2023 earnings which closed at $10.6, up by 4.3% from the prior day’s closing price of $10.2. ITEOS THERAPEUTICS opened the trading day at $10.3, and after a successful trading period, closed at a higher rate. The report points to a strong showing in Q3 of this fiscal year and bodes well for the company’s prospects going forward. The earnings report from ITEOS THERAPEUTICS is being seen as a positive sign for the company, as their stock closed at its highest price since April of this year. The report comes as a welcome surprise for investors, as ITEOS THERAPEUTICS has had to contend with various challenges throughout the year, including a global pandemic and disrupted supply chains.
This strong performance in spite of such difficulties is a testament to the company’s resilience and capability to deliver results under difficult circumstances. Going forward, ITEOS THERAPEUTICS will look to further capitalize on the success seen in Q3 and build on this momentum. With the focus now shifted from short-term survival to long-term growth, it will be interesting to see how the company fares in the coming quarters and years. This will be a key indicator of the company’s future prospects and direction. 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 |
| 66.5 | -61.64 | -92.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Iteos Therapeutics. More…
| Operations | Investing | Financing |
| -117.16 | -434.02 | 2.18 |
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 |
| 677.64 | 79.38 | 16.72 |
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 |
| – | – | -133.7% |
| FCF Margin | ROE | ROA |
| -178.7% | -9.1% | -8.2% |
Analysis
At GoodWhale, we’ve analyzed ITEOS THERAPEUTICS‘s financials and have come to some key conclusions. According to our Star Chart, ITEOS THERAPEUTICS is strong in assets, growth, and medium in profitability, but weak in dividend. We also assess the company’s intermediate health score of 6/10, taking into account its cashflows and debt. We believe this score indicates that the company is likely to sustain future operations in times of crisis. Given the company’s financials and characteristics, we believe that ITEOS THERAPEUTICS would be of particular interest for growth investors looking to invest in a company with a healthy balance sheet. 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
Investors in ITEOS THERAPEUTICS were surprised to find that the company reported a significant decrease in revenue and net income for their third quarter of FY2023. Although the revenue was down 100.0% compared to the same quarter last year, the stock price still moved up on the news. Despite this surprising response, investors should be cautious when considering ITEOS THERAPEUTICS as it is unlikely that long-term growth can be sustained with such a large financial decline. It is important to consider the company’s current and future prospects before investing.
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