Morphic Holding Q3 EPS $(0.73) Beats $(0.95) Estimate; Ended Q3 With $725.1M In Cash, Cash Equivalents, And Marketable Securities Providing Runway Into 2H Of 2027
Portfolio Pulse from Benzinga Newsdesk
Morphic Holding reported Q3 losses of $(0.73) per share, beating the analyst consensus estimate of $(0.95) by 23.16%. This is a 6.41% increase over losses from the same period last year. The company ended Q3 with $725.1M in cash, cash equivalents, and marketable securities, providing a runway into the second half of 2027.
November 03, 2023 | 11:09 am
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Morphic Holding reported better-than-expected Q3 losses and has a strong cash position, providing a runway into the second half of 2027.
Morphic Holding reported a smaller loss than expected, which is positive news for the company. Additionally, the company's strong cash position provides financial stability and the ability to fund operations into the second half of 2027. This could lead to a positive reaction in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100