CORRECTION: Oncolytics Biotech Q2 EPS $(0.09), Inline; Cash, Cash Equivalents Of $24.4M
Portfolio Pulse from Benzinga Newsdesk
Oncolytics Biotech (NASDAQ:ONCY) reported Q2 losses of $(0.09) per share, meeting analyst consensus. This is a 28.57% decrease from the same period last year. The company reported $24.4 million in cash, cash equivalents, and marketable securities as of June 30, 2023, and closed a $15 million public offering on August 8, 2023. Pro forma cash and equivalents would be approximately $42.7 million.
August 14, 2023 | 11:14 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Oncolytics Biotech reported Q2 losses in line with analyst expectations, but a decrease from last year. The company also reported a successful public offering and a healthy cash position.
While the company's losses are in line with analyst expectations, the YoY decrease could be a concern for investors. However, the successful public offering and the reported cash position could offset these concerns in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100