PROQR THERAPEUTICS N.V Reports Q2 Earnings Results for FY2023 on June 30, 2023
August 22, 2023
🌥️Earnings Overview
PROQR THERAPEUTICS N.V ($NASDAQ:PRQR) reported total revenue of EUR 1.2 million in their earnings results for the second quarter of FY2023, ending on June 30, 2023. This reflected a 17.6% increase from the same quarter of the prior year. Net income for Q2 was EUR -8.0 million, a decrease from the -14.9 million of the year before.
Stock Price
The stock opened at $1.5 and closed at $1.4, a decrease of 3.4% from the previous closing price of $1.5. This decrease in the stock’s value is attributed to the mixed financial results reported by the company with higher revenue than expected, but lower profits. These expenses included research and development (R&D) and general & administrative (G&A). The higher R&D expenses were related to the company’s efforts to develop new products and improve existing ones. The company also mentioned that it has several products in its pipeline which are currently in the development stage and are expected to be launched in the near future. Furthermore, the company is making progress in its clinical trials and is looking forward to gaining more insights into its treatments in order to improve patient outcomes. Overall, PROQR THERAPEUTICS N.V reported a mixed result for the Q2 earnings for FY2023. The company’s stock price dropped 3.4% due to lower profits compared to expected revenue.
However, the company’s progress in its clinical trials and success in launching new products will be important factors for the overall performance of the company in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PRQR. More…
| Total Revenues | Net Income | Net Margin |
| 3.84 | -54.23 | -1438.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PRQR. More…
| Operations | Investing | Financing |
| 1.18 | -0.61 | -30.89 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PRQR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 147.99 | 96.49 | 0.64 |
Key Ratios Snapshot
Some of the financial key ratios for PRQR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -1172.6% |
| FCF Margin | ROE | ROA |
| 13.5% | -50.8% | -19.0% |
Analysis
At GoodWhale, we conducted a thorough analysis of the fundamentals of PROQR THERAPEUTICS N.V. After careful consideration, we determined that PROQR THERAPEUTICS N.V is a medium risk investment in terms of its financial and business aspects. Through our analysis, we detected three risk warnings in the income sheet, balance sheet, and cashflow statement of PROQR THERAPEUTICS N.V. These warnings could potentially lead to an increased level of risk for this investment. To get a better understanding of these risks, we encourage our users to register on goodwhale.com for more detailed information. More…
Peers
It is among the leading firms in the industry and is competing with other companies such as Merus NV, Aileron Therapeutics Inc, and Vera Therapeutics Inc to develop groundbreaking therapies for patients worldwide.
– Merus NV ($NASDAQ:MRUS)
Merus NV is a biotechnology company based in the Netherlands. Founded in 2015, the company is focused on developing therapeutic antibodies for cancer and autoimmune diseases. Merus NV has a market cap of 1.03B as of 2023 and a Return on Equity (ROE) of -45.66%. This market capitalization suggests that it is a mid-sized company, as it is significantly smaller than many of its larger peers in the biotechnology sector. The company’s Return on Equity, however, is not impressive, coming in at -45.66%. This indicates that Merus NV is having difficulty generating profits from its operations.
– Aileron Therapeutics Inc ($NASDAQ:ALRN)
Aileron Therapeutics Inc is a biopharmaceutical company focused on developing novel therapies that modulate and restore healthy cellular aging processes. Based in Boston, Massachusetts, Aileron has a market capitalization of 7.04M as of 2023, indicating a relatively small size compared to its larger peers. It also shows a negative return on equity of -88.21%, suggesting that the company has yet to generate profits or return any value to shareholders. Nonetheless, Aileron continues to be an innovator in the field of cellular aging, exploring new pathways to combat age-related disease and extend healthy human life expectancy.
– Vera Therapeutics Inc ($NASDAQ:VERA)
Vera Therapeutics Inc is a biopharmaceutical company that specializes in discovering and developing novel immune-modulating therapeutics. Currently, the company has a market capitalization of 336.83 million as of 2023. This market cap indicates the size and value of the company and its potential for growth. Additionally, Vera Therapeutics Inc has a Return on Equity (ROE) of -53.43%, indicating that the company is not utilizing its shareholders’ equity efficiently. Nevertheless, Vera Therapeutics Inc is continuing to develop novel therapeutics and is looking to increase ROE in the near future.
Summary
PROQR THERAPEUTICS N.V reported revenue of EUR 1.2 million for the second quarter of 2023, representing a 17.6% increase from the same period the prior year.
However, net income for the quarter was EUR -8.0 million, a decrease from the -14.9 million reported in the same quarter of the prior year. This had a direct impact on the stock price, which moved down on the same day. For investors, this could be seen as a sign of weak performance and lack of confidence in the company’s long-term prospects. Despite the revenue growth, investors may be wary of investing in PROQR until they can see more sustainable and improved financial results.
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