XENON PHARMACEUTICALS Reports Revenue of $0.0 and Net Loss of $47.5 Million in Q2 FY2023
August 28, 2023
🌧️Earnings Overview
XENON PHARMACEUTICALS ($NASDAQ:XENE) reported a net income of -47.5 million for the second quarter of FY2023, ending June 30 2023, compared to -31.2 million in the same period of the previous year – a decrease of 100.0%. Total revenue for the quarter was USD 0.0 million. The report was released on August 9 2023.
Stock Price
On Wednesday, XENON PHARMACEUTICALS reported a revenue of $0.0 and net loss of $47.5 million in the second quarter of FY2023. The company’s stock opened at $35.4 and closed at $35.4, up by 0.3% from the previous closing price of $35.4. The net loss primarily consisted of research and development expenses related to the company’s pipeline of new drugs, which totaled $47.5 million for the quarter.
Overall, XENON PHARMACEUTICALS reported a disappointing financial performance in Q2 FY2023, with revenues stagnating and losses increasing significantly due to higher research and development costs. Nevertheless, the company’s stock rose slightly due to its promising pipeline of new drugs, which could potentially revive its profitability in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Xenon Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 0.13 | -163.68 | -125652.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Xenon Pharmaceuticals. More…
| Operations | Investing | Financing |
| -130.77 | -173.91 | 0.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Xenon Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 684.9 | 38.44 | 10.17 |
Key Ratios Snapshot
Some of the financial key ratios for Xenon Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -83.1% | – | -138065.2% |
| FCF Margin | ROE | ROA |
| -103972.0% | -17.1% | -16.6% |
Analysis
After conducting a thorough analysis of XENON PHARMACEUTICALS‘s wellbeing, GoodWhale has determined that the company has an intermediate health score of 5/10. GoodWhale’s Star Chart analysis takes into account cashflows, debt and other factors to determine an overall health score. XENON PHARMACEUTICALS is strong in asset, but weak in dividend, growth and profitability. We classify XENON PHARMACEUTICALS as an ‘elephant’, which means the company is rich in assets after deducting off liabilities. This means that XENON PHARMACEUTICALS is likely to pay off debt and fund future operations. Given XENON PHARMACEUTICALS’s strong asset position, investors who are looking for a long-term and stable investment with a reliable return may be interested in such a company. Those who prefer higher growth potential and returns may want to look elsewhere for more risky investment opportunities. More…
Peers
The pharmaceutical industry is highly competitive, and Xenon Pharmaceuticals Inc is no exception. As one of the leading companies in the field, Xenon Pharmaceuticals Inc must contend with other top contenders, including Cortexyme Inc, Metacrine Inc, and Syndax Pharmaceuticals Inc. All four companies are competing to develop the most effective treatments for a variety of conditions and diseases. Despite the competition, each company is striving to create the best possible treatments to improve the lives of their patients.
– Cortexyme Inc ($NASDAQ:MTCR)
Metacrine Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of metabolic, liver, and gastrointestinal diseases. As of 2022, the company’s market cap stands at 17.45M. Additionally, Metacrine Inc’s Return on Equity (ROE) is -57.69%, which indicates that the company has been unsuccessful in generating profits from its equity investments. The negative ROE indicates that the company’s operational performance is below average.
– Metacrine Inc ($NASDAQ:SNDX)
Syndax Pharmaceuticals Inc is a biopharmaceutical company dedicated to discovering, developing, and commercializing novel therapies to improve the lives of patients with cancer. The company has a market cap of 1.64 billion dollars as of 2022, indicating its high value in the market. Its Return on Equity (ROE) of -1.94% is lower than the industry average, which may signify weaker financial performance. Despite this, the company is continuing to focus on developing innovative treatments for cancer patients and has recently approved two new cancer therapies.
Summary
XENON PHARMACEUTICALS reported a net loss of USD 47.5 million for the second quarter of FY2023, ending June 30 2023, compared to the net loss of USD 31.2 million in the same period a year prior. Investors should note that total revenue in the same quarter dropped to USD 0.0 million compared to last year. This data suggests a clear downward trend in the company’s financial performance and could indicate that it is struggling to remain viable in the competitive market. Investors should take into account additional factors before making any final decisions about investing in XENON PHARMACEUTICALS.
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