BiomX Estimates Its Cash Runway To Be Sufficient To Fund Operations In Q3
Portfolio Pulse from Benzinga Newsdesk
BiomX Inc. (AMEX:PHGE) reported a cash balance, short-term deposits, and restricted cash of $30.7 million as of June 30, 2023, compared to $34.3 million as of December 31, 2022. The company estimates its cash runway to be sufficient to fund operations into Q3.
August 09, 2023 | 10:37 am
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BiomX's cash balance has decreased from $34.3 million to $30.7 million. However, the company believes it has enough funds to continue operations into Q3.
While BiomX's cash balance has decreased, the company's confidence in its ability to fund operations into Q3 suggests that it does not foresee any immediate financial difficulties. This could potentially stabilize the stock price in the short term.
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IMPORTANCE 70
RELEVANCE 100