VIRIDIAN THERAPEUTICS Reports Second Quarter Earnings for FY2023
August 17, 2023
🌥️Earnings Overview
On June 30, 2023, VIRIDIAN THERAPEUTICS ($NASDAQ:VRDN) released their second quarter financial results for FY2023, showing a total revenue of USD 0.1 million, a drop of 73.1% from the corresponding period in the previous year. Additionally, their net income for the quarter came in at USD -55.1 million, compared to -29.5 million in the same quarter of the prior year.
Stock Price
The stock opened at $17.8 and closed at $18.8, representing a 5.7 percent rise from the prior closing price of $17.7. This is a promising sign for the company, as it suggests an increasing investor confidence in their products and services. VIRIDIAN THERAPEUTICS is an innovative biopharmaceutical company that focuses on developing treatments for cancer and other serious diseases. They are committed to finding new and effective ways to treat those who suffer from these illnesses. Through their dedicated research and development teams, they have created treatments that have improved the quality of life for thousands of patients worldwide.
The company’s second quarter earnings report is an encouraging sign that they are on track to meet their goals for this fiscal year. This news is likely to excite investors, as it indicates that VIRIDIAN THERAPEUTICS is continuing to make progress in their mission to provide affordable treatments for people suffering from serious illnesses. With more advancements in medicine coming out each day, the company’s forward-thinking approach to healthcare is sure to benefit patients in the years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Viridian Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 1.47 | -197.9 | -13462.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Viridian Therapeutics. More…
| Operations | Investing | Financing |
| -161.9 | -110.53 | 328.22 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Viridian Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 351.47 | 35.61 | 7.32 |
Key Ratios Snapshot
Some of the financial key ratios for Viridian Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -17.0% | – | -13417.8% |
| FCF Margin | ROE | ROA |
| -11065.9% | -37.0% | -35.1% |
Analysis
GoodWhale is the ideal tool to analyze VIRIDIAN THERAPEUTICS‘s financials. Through our extensive financial analysis, we have determined that this company is a medium risk investment in terms of financial and business aspects. We have detected 2 risk warnings in VIRIDIAN THERAPEUTICS’s balance sheet and cash flow statement, which can have an impact on the company’s performance. If you’d like to know more about these risks, you can register on goodwhale.com and check it out for yourself. At GoodWhale, we understand the importance of thorough financial analysis when it comes to making an informed investment decision. That’s why we strive to provide comprehensive and up-to-date information on all companies we cover. With our help, you can make the best possible decision when investing. More…
Peers
The Company’s proprietary technology platform is designed to deliver genetic medicines to patients with serious diseases. The Company’s product candidates include VIR-101, which is in Phase I clinical trial for the treatment of wet age-related macular degeneration, and VIR-102, which is in Phase I/II clinical trial for the treatment of Leber’s congenital amaurosis 10. Sio Gene Therapies Inc is a clinical-stage biopharmaceutical company, which focuses on the development and commercialization of gene therapies to treat patients with rare genetic diseases. CinCor Pharma Inc is a biopharmaceutical company, which focuses on the development and commercialization of therapies for cardiovascular diseases. Kiniksa Pharmaceuticals Ltd is a biopharmaceutical company, which focuses on the development and commercialization of therapies for chronic and life-threatening diseases.
– Sio Gene Therapies Inc ($NASDAQ:SIOX)
Sio Gene Therapies Inc is a gene therapy company that focuses on developing treatments for patients with rare genetic disorders. The company has a market cap of 22.2M and a ROE of -76.05%. The company’s products are in clinical trials for the treatment of hereditary angioedema and hemophilia A.
– CinCor Pharma Inc ($NASDAQ:CINC)
CinCor Pharma Inc is a pharmaceutical company with a market cap of 1.49B as of 2022 and a Return on Equity of 78.34%. The company’s main focus is on developing treatments for cancer and other diseases. CinCor Pharma Inc has a strong research and development team that is constantly working on new and innovative treatments. The company’s products are available in over 60 countries worldwide.
– Kiniksa Pharmaceuticals Ltd ($NASDAQ:KNSA)
Kiniksa Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases. The company’s lead product candidates include MAVACIS, an antibody that targets interleukin-6, and Rilonacept, a recombinant protein that inhibits the activity of interleukin-1. Kiniksa’s pipeline also includes several other early-stage product candidates targeting autoimmune and inflammatory diseases.
Kiniksa’s market cap of $839.91M as of 2022 and ROE of -42.8% indicates that the company is a high-risk investment. However, the company’s strong pipeline of product candidates targeting autoimmune and inflammatory diseases could lead to significant upside potential for investors willing to take on the risk.
Summary
VIRIDIAN THERAPEUTICS reported their second quarter earnings for FY2023 on June 30, 2023. Total revenue for the quarter was USD 0.1 million, a significant decrease of 73.1% from the same period last year. Net income for the quarter was reported as USD -55.1 million, compared to the prior year’s figures of -29.5 million. Despite the results, the stock price moved up on the same day.
Investors should take these numbers into consideration when evaluating the potential risks and rewards of investing in VIRIDIAN THERAPEUTICS. Analysts should be monitoring market trends and company updates to determine if the stock is a suitable investment for their portfolios.
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