Revolution Medicines Is Updating Its Projected Full Year 2023 GAAP Net Loss To Be Between $385M-$415M, Which Includes Estimated Non-Cash Stock-Based Compensation Expense Of $45M-$50M
Portfolio Pulse from Benzinga Newsdesk
Revolution Medicines has updated its projected full year 2023 GAAP net loss to be between $385M-$415M, including an estimated non-cash stock-based compensation expense of $45M-$50M. The company's current cash, cash equivalents and investments are expected to fund operations into 2025. The financial guidance excludes the impact of the proposed EQRx transaction.
November 06, 2023 | 10:27 pm
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Revolution Medicines' updated financial guidance for 2023 indicates a higher net loss than previously expected. However, the company's current assets are projected to sustain operations until 2025.
The updated financial guidance indicates a higher net loss for 2023, which could negatively impact investor sentiment and potentially lead to a short-term decrease in the stock price. However, the company's assurance that current assets can fund operations until 2025 may mitigate some of this negative impact.
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