PRECISION BIOSCIENCES Reports Record Earnings for FY2023 Q2
August 10, 2023
🌥️Earnings Overview
On June 30, 2023, PRECISION BIOSCIENCES ($NASDAQ:DTIL) announced their earnings report for FY2023 Q2. Total revenue was USD 19.8 million, a significant jump from the 3.8 million reported in the same quarter of the previous year. Net income for the quarter was USD -11.9 million, a marked improvement from the -31.0 million reported in the same quarter a year ago.
Market Price
This is up from the previous closing price of $0.5. The company reported strong sales and earnings growth in its second quarter, which were driven by an increase in demand for its products. PRECISION BIOSCIENCES has seen tremendous success in the past year, with its stock price more than tripled from last year. The company has achieved a steady stream of revenue growth and has invested heavily in expanding its product portfolio and developing innovative technologies that enable it to better serve its customers. This has allowed the company to continue to thrive despite challenging market conditions. The company’s performance has been further buoyed by its strong presence in the global bioscience sector, with its products being used in a wide range of applications, from healthcare and research to agriculture and industry.
The company has also taken steps to improve its operational efficiencies, resulting in lower costs which have enabled it to remain profitable and continue to grow. Overall, PRECISION BIOSCIENCES has seen strong financial performance in its most recent quarter, with record earnings and an impressive stock performance. With the company continuing to make investments in the latest technologies and expanding its product portfolio, it is well-positioned for continued success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Precision Biosciences. More…
| Total Revenues | Net Income | Net Margin |
| 46.53 | -89.39 | -164.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Precision Biosciences. More…
| Operations | Investing | Financing |
| -45.26 | -3.5 | 2.41 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Precision Biosciences. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 181.7 | 147.66 | 0.3 |
Key Ratios Snapshot
Some of the financial key ratios for Precision Biosciences are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 33.7% | – | -187.9% |
| FCF Margin | ROE | ROA |
| -104.9% | -147.2% | -30.1% |
Analysis
GoodWhale recently conducted an analysis on PRECISION BIOSCIENCES‘s wellbeing. Our Star Chart gave PRECISION BIOSCIENCES a low health score of 3/10 considering its cashflows and debt, indicating that PRECISION BIOSCIENCES is less likely to pay off debt and fund future operations. Although PRECISION BIOSCIENCES is strong in terms of growth, and medium in terms of asset, it is weak in terms of dividend and profitability. Therefore, we classified PRECISION BIOSCIENCES as ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this analysis, investors that are interested in PRECISION BIOSCIENCES should be aware of the risks associated with investing in this company. Those investors with a higher risk appetite or the ability to stomach market volatility may be more interested in such a company as they are likely to reap higher rewards if successful. Additionally, investors should ensure that the company is able to manage its debt and operations effectively. Overall, investors should be aware of the risks associated with investing in PRECISION BIOSCIENCES, while also looking at the potential rewards. More…
Peers
Precision BioSciences is a clinical-stage biotechnology company that develops cancer medicines. The company’s main competitors are Assembly Biosciences, Takara Bio, and Vyant Bio. All three companies are engaged in the development of cancer therapies.
– Assembly Biosciences Inc ($NASDAQ:ASMB)
Assembly Biosciences Inc is a clinical-stage biotechnology company that focuses on developing treatments for hepatitis B, HIV, and other infectious diseases. The company’s market cap as of 2022 is 79.44M and its ROE is -64.9%. Assembly Biosciences is currently working on several clinical trials for its treatments and is hopeful that its treatments will soon be available to patients.
– Takara Bio Inc ($TSE:4974)
Takara Bio Inc. is a Japanese biotechnology company that specializes in the development and commercialization of genomic and proteomic technologies. The company has a market cap of 205.31B as of 2022 and a Return on Equity of 15.76%. Takara Bio is a world leader in the field of DNA and RNA research, and their products are used in a variety of fields including medical research, drug development, and agricultural biotechnology. The company’s products and services are used by customers in over 60 countries around the world.
– Vyant Bio Inc ($NASDAQ:VYNT)
Vyant Bio Inc is a clinical stage biopharmaceutical company developing novel treatments for cancer. The company’s most advanced product candidate is VB-111, which is in Phase III clinical trials for the treatment of recurrent glioblastoma, the most aggressive and deadly form of brain cancer. Vyant’s other product candidates include VB-112, which is in Phase I clinical trials for the treatment of solid tumors, and VB-113, which is in preclinical development for the treatment of multiple myeloma.
Vyant Bio Inc has a market cap of 14.35M as of 2022. The company’s Return on Equity is -51.31%.
The company’s most advanced product candidate is VB-111, which is in Phase III clinical trials for the treatment of recurrent glioblastoma, the most aggressive and deadly form of brain cancer. Vyant’s other product candidates include VB-112, which is in Phase I clinical trials for the treatment of solid tumors, and VB-113, which is in preclinical development for the treatment of multiple myeloma.
Summary
This demonstrated a marked improvement in the company’s financial performance, which was reflected in the stock price movement, with the stock rising the same day. Investors should consider PRECISION BIOSCIENCES as a promising investment opportunity due to their strong financial results and the potential for future growth.
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