Immunovant Q1 EPS $(0.57) Misses $(0.45) Estimate; Cash And Cash Equivalents Of $330M Is Expected To Fund Operations Into 2H Of Calendar Year 2025
Portfolio Pulse from Benzinga Newsdesk
Immunovant reported Q1 losses of $(0.57) per share, missing the analyst consensus estimate of $(0.45) by 26.67%. This is a 62.86% decrease over losses of $(0.35) per share from the same period last year. The company's cash and cash equivalents of $330M is expected to fund operations into the second half of 2025.

August 10, 2023 | 11:22 am
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Immunovant's Q1 earnings missed estimates, with losses increasing by 62.86% compared to the same period last year. However, the company has sufficient cash to fund operations until 2H 2025.
Immunovant's larger than expected Q1 losses could negatively impact the stock price in the short term. However, the company's strong cash position, which is expected to fund operations until 2H 2025, may provide some reassurance to investors.
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