Apollomics Reports First Half 2023 Financial Results And Provides Corporate Update; 1H EPS $(2.55); Cash, Cash Equivalents And Investments As Of June 30, 2023 Were ~$52.6M
Portfolio Pulse from Benzinga Newsdesk
Apollomics has reported its financial results for the first half of 2023. The company's cash, cash equivalents, and investments were approximately $52.6 million as of June 30, 2023, compared to $58.9 million as of December 31, 2022. The company raised $23.7 million in a PIPE financing in March 2023. R&D expenses were $16.5 million, while G&A expenses were $9.7 million. The net loss for the first half of 2023 was $150.7 million, or $2.55 per diluted share.
September 28, 2023 | 8:23 pm
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Apollomics reported a net loss of $150.7 million for the first half of 2023, significantly higher than the same period in 2022. The company's cash position is $52.6 million, down from $58.9 million at the end of 2022, but it raised $23.7 million in a PIPE financing in March 2023.
The significant net loss reported by Apollomics for the first half of 2023 is likely to negatively impact the company's stock price in the short term. The decrease in cash position could also be a concern for investors, although the funds raised in the PIPE financing may offset some of these concerns.
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