Better Therapeutics Q3 EPS $(0.15) Beats $(0.21) Estimate; Cash And Cash Equivalents Of $6.6M, In October 2023, The Company Raised $2.9M, Together With Lower Operating Expenses From The Restructuring Will Extend Its Runway Into Q1 Of 2024
Portfolio Pulse from Benzinga Newsdesk
Better Therapeutics (NASDAQ:BTTX) reported Q3 losses of $(0.15) per share, beating the analyst consensus estimate of $(0.21) by 28.57%. This is a 68.75% increase over losses of $(0.48) per share from the same period last year. The company also raised $2.9M in October 2023 and has cash and cash equivalents of $6.6M. Lower operating expenses from restructuring will extend its runway into Q1 of 2024.
November 09, 2023 | 12:42 pm
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Better Therapeutics reported better than expected Q3 results, with losses per share improving by 68.75% YoY. The company's cash position and recent fundraising, coupled with lower operating expenses, extend its financial runway into Q1 2024.
Better Therapeutics reported a smaller loss than expected, which is a positive signal for investors. The company's improved financial position due to recent fundraising and lower operating expenses also bodes well for its short-term outlook, potentially leading to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100