REATA PHARMACEUTICALS ($NASDAQ:RETA) reported their Q2 FY2023 financial results on August 8, 2023, with total revenue for the quarter amounting to USD 22.8 million. This is a substantial increase compared to the 0.8 million earned in Q2 of the previous fiscal year. Moreover, net income for Q2 of FY2023 rose to USD 193.0 million, a vast improvement from the -73.6 million posted for the same period in FY2022.
The company’s stock opened at $166.7 and closed at $167.2, representing a 0.4% increase from its previous closing price of $166.4. The company attributed its strong financial performance to increased demand for its flagship drug Oleiva, which is used to treat patients with kidney disease.
Additionally, REATA PHARMACEUTICALS also reported an increase in sales of its other products, including its arthritis drug Proment. Overall, REATA PHARMACEUTICALS reported a strong quarter with strong growth in both revenue and profits. The company’s stock reacted positively to the news, closing up by 0.4% on Tuesday. It is expected that the company will continue to experience strong growth in the coming quarters as demand for its products remain robust. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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At GoodWhale, we have conducted an analysis of REATA PHARMACEUTICALS‘ financials. Our Risk Rating has determined that REATA PHARMACEUTICALS is a medium risk investment in terms of financial and business aspects. We have detected 4 risk warnings in the income sheet, balance sheet, cashflow statement, and financial journal. To access the full report, please become a registered user on our website. In the report, you’ll find an overview of the company’s financials, as well as our detailed risk analysis. We hope our analysis helps you make better informed decisions when it comes to your investments. More…
Risk Rating Analysis
Star Chart Analysis
The company’s lead product candidate, bardoxolone methyl, is in clinical development for the treatment of rare and orphan diseases, including Friedreich’s ataxia, alpha-1 antitrypsin deficiency, and motor neuron disease. Reata’s other product candidates include omaveloxolone, a small molecule activator of Nrf2, which is in clinical development for the treatment of Friedreich’s ataxia, and RTA 408, an oral antioxidant, which is in clinical development for the treatment of chronic kidney disease. Reata’s competitors in the rare and orphan disease space include Aravive Inc, Seelos Therapeutics Inc, and HilleVax Inc.
Aravive, Inc. operates as a clinical-stage biopharmaceutical company in the United States. The company focuses on the discovery and development of therapeutic candidates to target cancer stem cells and tumor microenvironment for the treatment of cancer.
– Seelos Therapeutics Inc ($NASDAQ:SEEL)
Seelos Therapeutics Inc is a clinical stage biopharmaceutical company. The company focuses on the development of central nervous system disorders. Seelos Therapeutics Inc has a market cap of 94.97M as of 2022, a Return on Equity of -127.52%. The company’s current lead product candidate is SLS-002, which is in Phase 2 clinical trials for the treatment of post-traumatic stress disorder.
REATA PHARMACEUTICALS‘ Q2 FY2023 financials showed an impressive turnaround from the year prior, with total revenue of USD 22.8 million and net income of USD 193.0 million. Going forward, investors should remain bullish on REATA PHARMACEUTICALS’ prospects as the company continues to execute on its strategic plan.