VERONA PHARMA Reports Second Quarter Earnings Results for 2023.
August 13, 2023
🌥️Earnings Overview
On August 3, 2023, VERONA PHARMA ($NASDAQ:VRNA) disclosed their financial results for the second quarter of FY2023 ending June 30, 2023. Their total revenue was reported to be USD 0.0 million – a decrease from the previous year of USD 0.0 million. Additionally, their net income was reported as USD -8.8 million, which is a decrease from the -17.8 million reported in the same quarter of the prior year.
Share Price
The financial performance was negatively impacted by higher costs associated with research and development activities. Overall, despite the decrease in profits, VERONA PHARMA’s financial performance in the second quarter of 2023 was better than expected, and the company remains well positioned to capitalize on its strong product lineup. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Verona Pharma. More…
| Total Revenues | Net Income | Net Margin |
| 0.46 | -51.65 | -11358.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Verona Pharma. More…
| Operations | Investing | Financing |
| -52.93 | 0 | 211.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Verona Pharma. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 303.93 | 30.84 | 3.44 |
Key Ratios Snapshot
Some of the financial key ratios for Verona Pharma are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -10850.2% |
| FCF Margin | ROE | ROA |
| -11555.9% | -11.3% | -10.2% |
Analysis
GoodWhale has analyzed VERONA PHARMA‘s financials and we’ve determined that it is a medium risk investment. This means that while there may be opportunities to profit from the stock, investing in it carries a certain amount of risk. Upon reviewing the financials, GoodWhale has detected 3 risk warnings in the income sheet, balance sheet, and cashflow statement. The exact details of these warnings can be found by registering on goodwhale.com. It’s important to remember that while there is potential for profits with VERONA PHARMA, these risks should be carefully weighed before investing. More…
Peers
Some of its competitors are Karuna Therapeutics Inc, Cardiff Oncology Inc, Reviva Pharmaceuticals Holdings Inc.
– Karuna Therapeutics Inc ($NASDAQ:KRTX)
Karuna Therapeutics Inc is a clinical-stage biopharmaceutical company that focuses on developing and commercializing novel treatments for patients with psychiatric and neurological disorders. The company’s lead product candidate, KarXT, is a novel, oral, small molecule that is being developed for the treatment of schizophrenia. KarXT has the potential to improve cognitive function, negative symptoms, and overall functioning in patients with schizophrenia. The company has completed a Phase II clinical trial of KarXT in patients with schizophrenia and is currently enrolling patients in a Phase III clinical trial.
– Cardiff Oncology Inc ($NASDAQ:CRDF)
Cardiff Oncology is a clinical-stage biotechnology company focused on the development of novel cancer therapies. The company’s lead product candidate, CZC24832, is a first-in-class, orally-available small molecule inhibitor of the PI3K/mTOR pathway. The PI3K/mTOR pathway is a key driver of cancer cell growth and proliferation. CZC24832 is currently being evaluated in a Phase 1/2 clinical trial in patients with advanced solid tumors.
Cardiff Oncology has a market cap of $59.42 million and a return on equity of -21.11%. The company’s lead product candidate, CZC24832, is a first-in-class, orally-available small molecule inhibitor of the PI3K/mTOR pathway. The PI3K/mTOR pathway is a key driver of cancer cell growth and proliferation. CZC24832 is currently being evaluated in a Phase 1/2 clinical trial in patients with advanced solid tumors.
– Reviva Pharmaceuticals Holdings Inc ($NASDAQ:RVPH)
Reviva Pharmaceuticals Holdings Inc is a pharmaceutical company with a market cap of 107.33M as of 2022 and a Return on Equity of -63.24%. The company’s main focus is on the development and commercialization of drugs for the treatment of central nervous system disorders.
Summary
Net income has also decreased to USD -8.8 million from last year’s -17.8 million. Investors should consider the implications of the company’s performance regarding their financial stability and long-term prospects. They should monitor its operational and financial metrics to assess its performance and future potential. Additionally, they should gauge the industry trends and competitive landscape to understand how the company is positioned compared to its peers.
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