Purple Biotech Q3 EPS $(0.23), Inline; $15.9M In Cash, Cash Equivalents And Short-term Deposits. In October 2023 The Company Raised An Additional Gross Amount Of $5M Extended The Cash Runway To The Second Half Of 2025
Portfolio Pulse from Benzinga Newsdesk
Purple Biotech reported Q3 EPS of $(0.23), meeting analyst consensus and improving from $(0.27) last year. They have $15.9M in cash and equivalents, and raised $5M in October, extending their cash runway to H2 2025.
November 21, 2023 | 11:56 am
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POSITIVE IMPACT
Purple Biotech met Q3 EPS estimates and showed year-over-year improvement, with a strong cash position and extended runway after a $5M raise.
Meeting EPS estimates and showing improvement from the previous year's losses are positive signs for investors. The successful capital raise and extended cash runway until the second half of 2025 reduce short-term financial risk, which could lead to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100