Why Bio-Path Holdings Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Bio-Path Holdings, Inc. (NASDAQ:BPTH) shares fell after reporting a Q4 EPS loss of $4.23, which was narrower than the expected $5.40 loss. The annual net loss improved to $33.63 per share from $38.12. R&D expenses rose to $11.6 million from $9.2 million. Cash reserves significantly decreased to $1.1 million from $10.4 million. The company completed the first dose cohort of its Phase 1 trial for BP1002 in treating certain cancers. Shares dropped 4.98% to $5.920.
March 08, 2024 | 5:17 pm
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NEGATIVE IMPACT
Bio-Path Holdings reported a narrower Q4 EPS loss than expected, an improved annual net loss, increased R&D expenses, and a significant decrease in cash reserves. The company also announced progress in its BP1002 cancer treatment trial.
Despite the narrower than expected quarterly loss and the progress in its BP1002 trial, the significant decrease in cash reserves is likely to raise concerns about the company's financial health and its ability to fund ongoing research and development. This, combined with the overall negative earnings report, is likely contributing to the short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100