Apogee Therapeutics Q2 Net Loss Of $18.90M Down From $1.80M YoY, $345M In Gross Proceeds Raised In Upsized IPO, Providing A Projected Operating Runway Into 4Q 2026
Portfolio Pulse from Benzinga Newsdesk
Apogee Therapeutics reported a Q2 net loss of $18.90M, a significant increase from the $1.80M loss reported in the same period last year. However, the company raised $345M in gross proceeds from an upsized IPO, which is projected to provide an operating runway into the 4Q of 2026.
August 28, 2023 | 11:35 am
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NEUTRAL IMPACT
Apogee Therapeutics' Q2 net loss has significantly increased YoY, but the company has raised substantial funds through an upsized IPO, which should support operations until late 2026.
While the increased net loss could negatively impact investor sentiment, the successful raising of $345M through an upsized IPO is a positive development. This substantial funding is expected to support the company's operations until the end of 2026, which could offset concerns about the increased loss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100