GlycoMimetics Q2 EPS $(0.13) Beats $(0.18) Estimate; Cash And Cash Equivalents Of $58M
Portfolio Pulse from Benzinga Newsdesk
GlycoMimetics reported Q2 losses of $(0.13) per share, beating the analyst consensus estimate of $(0.18) by 27.78 percent. This is a 48 percent increase over losses of $(0.25) per share from the same period last year. The company also reported cash and cash equivalents of $58M.
August 04, 2023 | 10:58 am
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POSITIVE IMPACT
GlycoMimetics reported better than expected Q2 earnings and has a strong cash position. This could positively impact the stock in the short term.
GlycoMimetics reported a smaller loss than expected, which is generally seen as positive by investors. Additionally, the company's strong cash position indicates financial stability, which could also be viewed positively by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100