Morphic Holding Q2 EPS $(0.92) Misses $(0.87) Estimate; Greater Than $730 Million In Cash And Equivalents; Extended Cash Runway Into Second Half Of 2027
Portfolio Pulse from Benzinga Newsdesk
Morphic Holding reported Q2 losses of $0.92 per share, missing the analyst consensus estimate of $0.87 by 5.75%. This represents a 235.29% decrease from the same period last year. The company has over $730 million in cash and equivalents, extending its cash runway into the second half of 2027.
August 04, 2023 | 1:03 pm
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Morphic Holding reported a larger than expected loss for Q2, with EPS of $0.92, missing estimates by 5.75%. However, the company has a strong cash position, with over $730 million in cash and equivalents.
Morphic Holding's larger than expected loss for Q2 is likely to negatively impact the stock price in the short term. However, the company's strong cash position could provide some reassurance to investors, potentially mitigating some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100