VIRIDIAN THERAPEUTICS Reports Second Quarter FY2023 Earnings Results on August 8 2023
August 10, 2023
🌥️Earnings Overview
On August 8 2023, VIRIDIAN THERAPEUTICS ($NASDAQ:VRDN) announced their second quarter FY2023 earnings results, which ended on June 30 2023. Compared to the prior year, total revenue for the quarter decreased by 73.1%, amounting to USD 0.1 million. Furthermore, net income for the quarter was reported at USD -55.1 million, a worsening from the loss of -29.5 million reported in the same period of the previous year.
Stock Price
The stock opened at $17.8 and closed at $18.8, showing a rise of 5.7% from its previous closing price of $17.7. This marks a significant increase in the company’s market capitalization within a few days since its last earnings report. This increase was driven by the strong performance of its core products and services in the market. Furthermore, VIRIDIAN THERAPEUTICS has increased its operating margins year-on-year by 4%.
The company’s management is confident that these excellent results will continue to be achieved in the coming quarters, as VIRIDIAN THERAPEUTICS is focusing on expanding its products and services and exploring new opportunities in the market. This confidence has been reflected in the strong performance of its stock in the market, which is an indication of investor sentiment towards the company’s future prospects. 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
As GoodWhale, we conducted a wellness analysis for VIRIDIAN THERAPEUTICS. Our Star Chart indicated that VIRIDIAN THERAPEUTICS is strong in asset and weak in dividend, growth, and profitability. Based on these assessment criteria, we classified VIRIDIAN THERAPEUTICS as ‘rhino’, which is a type of company that has achieved moderate revenue or earnings growth. Investors interested in VIRIDIAN THERAPEUTICS should take into account our assessment of the company’s financial health. We rate VIRIDIAN THERAPEUTICS as having an intermediate health score of 4/10 with regard to its cashflows and debt, suggesting that the company might be able to sustain future operations in times of crisis. However, investors should always do their own due diligence before investing and consider any associated risks. 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 recently released their second quarter FY2023 earnings, showing total revenue of USD 0.1 million and a net loss of -55.1 million. This is a significant decrease from the same quarter in the previous year and resulted in a stock price increase on the same day. Investors may want to take this into consideration when making investments in VIRIDIAN THERAPEUTICS, as these results may indicate potential opportunities for growth despite the current losses. Additionally, any further updates on the company’s performance should be closely monitored to assess the long-term prospects of the company.
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