Instil Bio Q2 Adj $(0.11) Beats $(0.16) Estimate, Cash Balance $202.9M, Confirms Prior Guidance of Cash Runway Beyond 2026
Portfolio Pulse from Benzinga Newsdesk
Instil Bio (NASDAQ:TIL) reported Q2 losses of $(0.14) per share, beating the analyst consensus estimate of $(0.16) by 12.5%. This represents a 69.57% increase over losses from the same period last year. The company also confirmed its prior guidance of cash runway beyond 2026, with a current cash balance of $202.9M.
August 14, 2023 | 11:27 am
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Instil Bio reported better-than-expected Q2 losses and confirmed its cash runway beyond 2026. This could potentially boost investor confidence in the company's financial stability.
Instil Bio's Q2 results beat analyst estimates, which is generally seen as a positive sign and could lead to a short-term increase in the stock price. The confirmation of the company's cash runway beyond 2026 also indicates a strong financial position, which could further boost investor confidence.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100