Liminal BioSciences Reports Q2 Financial Results 2023 Cash And Cash Equivalents Were $19.3M At June 30, 2023
Portfolio Pulse from Happy Mohamed
Liminal BioSciences reported its Q2 2023 financial results, with cash and cash equivalents of $19.3 million and working capital of $16.4 million. R&D expenses increased by $0.4 million due to the advancement of GPR84 and OXER1 antagonist programs. Administration expenses were $4.8 million, with a decrease of $0.3 million. The net loss from continuing operations was $9.0 million, an increase from $6.3 million in Q2 2022. The total loss from discontinued operations was $0.2 million.
August 08, 2023 | 10:11 pm
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Liminal BioSciences reported increased R&D expenses and a higher net loss from operations in Q2 2023. The company's cash position remains strong, but the increased expenses could impact investor sentiment.
The increased R&D and administration expenses, along with the higher net loss, could negatively impact the company's stock price in the short term. However, the strong cash position could provide some buffer against these negative factors.
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