MIRATI THERAPEUTICS Reports Q2 Fiscal Year 2023 Earnings
August 16, 2023
🌥️Earnings Overview
MIRATI THERAPEUTICS ($NASDAQ:MRTX) reported their fiscal year 2023 second quarter earnings ending June 30 2023, with total revenue of USD 13.7 million, a 155.4% increase from the same quarter in the prior year. Net income for the quarter was -USD 176.9 million, slightly lower than -USD 176.4 million in the same quarter of the previous year.
Market Price
Investors are now anxiously awaiting the company’s full Q2 financial report in the coming weeks. The company is focused on developing innovative medicines to treat cancer and other diseases related to genetic mutations. Recently, MIRATI THERAPEUTICS has made a number of advancements in their pipeline by initiating clinical trials of its targeted therapies. The trial results were positive and have encouraged MIRATI THERAPEUTICS to continue exploring the development of this therapeutic.
Overall, MIRATI THERAPEUTICS has made progress in developing novel therapeutics, which holds promise for the future of the company. Investors are looking forward to the release of the company’s full Q2 financial report to gain further insight into the company’s progress. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mirati Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 27.22 | -737.53 | -2709.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mirati Therapeutics. More…
| Operations | Investing | Financing |
| -588.19 | 283.93 | 168.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mirati Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 915.04 | 186.09 | 12.5 |
Key Ratios Snapshot
Some of the financial key ratios for Mirati Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 148.2% | – | -2862.6% |
| FCF Margin | ROE | ROA |
| -2171.9% | -61.2% | -53.2% |
Analysis
GoodWhale’s analysis shows that MIRATI THERAPEUTICS is a ‘cheetah’ – a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Our Star Chart shows that MIRATI THERAPEUTICS is strong in asset, growth, and weak in dividend, profitability. This company may be attractive to investors who are looking for high returns and growth potential, but are willing to accept the associated risks of investing in an unproven company. Unfortunately, MIRATI THERAPEUTICS has a low health score of 3/10 with regard to its cashflows and debt. This indicates that the company is less likely to sustain future operations in times of crisis. Investors should take this into consideration when weighing the pros and cons of investing in MIRATI THERAPEUTICS. More…
Peers
The pharmaceutical market is a highly competitive industry with various companies vying for a share of the pie. Among these is Mirati Therapeutics Inc, which is up against Fate Therapeutics Inc, Aerovate Therapeutics Inc, and Syndax Pharmaceuticals Inc. All four companies are engaged in research and development in order to bring innovative new drugs to market. The competition is fierce, but Mirati Therapeutics Inc is confident in its ability to deliver on its promises and remain a key player in the industry.
– Fate Therapeutics Inc ($NASDAQ:FATE)
Fate Therapeutics is a clinical-stage biopharmaceutical company that develops programmed cellular immunotherapies for cancer and immune disorders. The company’s lead product candidate is FT516, a universal allogeneic natural killer cell cancer immunotherapy. Fate Therapeutics has a market cap of $1.93 billion as of 2022 and a return on equity of -35.11%. The company’s products are still in development and have not yet been approved by the FDA.
– Aerovate Therapeutics Inc ($NASDAQ:AVTE)
Aerovate Therapeutics Inc is a clinical stage biopharmaceutical company focused on the development and commercialization of inhaled therapies to treat serious respiratory diseases. The company’s product candidate, AeroVanc, is in development for the treatment of methicillin-resistant Staphylococcus aureus (MRSA) lung infection in cystic fibrosis (CF) patients. The company’s other product candidates include AeroKine for the treatment of non-cystic fibrosis bronchiectasis (NCFB) and AeroDose for the treatment of COPD.
Aerovate Therapeutics Inc has a market cap of $442.65M as of 2022 and a Return on Equity of -19.67%.
– Syndax Pharmaceuticals Inc ($NASDAQ:SNDX)
The company’s market cap is 1.33B as of 2022, a Return on Equity of -1.94%. The company focuses on the development of drugs for the treatment of cancer and other diseases.
Summary
MIRATI THERAPEUTICS reported their financial results for the second quarter of the 2023 fiscal year. Total revenue increased significantly to USD 13.7 million, showing a 155.4% year-over-year growth. Net income declined slightly from -USD 176.4 million to -USD 176.9 million. Investors should examine the company’s financials closely to determine if the current performance is sustainable and whether MIRATI THERAPEUTICS is a good investment opportunity. It is important to look at the company’s fundamentals, such as cash flow, balance sheet, and competitive advantage.
Additionally, investors should consider the company’s growth prospects, management, and risk profile.
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