COMPASS Pathways Expects Operating Cash Flow of $9M-$15M in Q4 and $79M-$85M in FY23
Portfolio Pulse from Benzinga Newsdesk
COMPASS Pathways expects its Q4 2023 operating cash flow to be between $9M and $15M, and its FY23 operating cash flow to be between $79M and $85M. This includes the R&D tax credit from the UK, the timing of which is uncertain. The company has adjusted its full-year 2023 cash burn guidance downward.
November 02, 2023 | 11:16 am
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COMPASS Pathways has revised its FY23 cash burn guidance downward and expects its Q4 2023 operating cash flow to be between $9M and $15M, and its FY23 operating cash flow to be between $79M and $85M. This includes the R&D tax credit from the UK, the timing of which is uncertain.
The downward revision of the cash burn guidance and the expected increase in operating cash flow, including the uncertain R&D tax credit from the UK, could be seen as positive news by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100