Third Harmonic Bio FY23 EPS $(0.78) Vs $(2.45) YoY
Portfolio Pulse from Benzinga Newsdesk
Third Harmonic Bio reported a FY23 EPS of $(0.78), an improvement from $(2.45) YoY. The company's cash position is strong at $269.1 million, expected to support operations through 2026. R&D expenses decreased slightly, while G&A expenses rose due to the costs of being a public company. The net loss for the year narrowed to $30.8 million from $35.2 million.
March 26, 2024 | 12:20 pm
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Third Harmonic Bio reported improved FY23 EPS and a strong cash position, with reduced net loss compared to the previous year.
The improvement in EPS and the strong cash position indicate a positive outlook for Third Harmonic Bio. The reduction in net loss and the ability to fund operations through 2026 without additional financing are likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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