Metagenomi FY23 EPS $(20.05) Vs $(12.82) YoY
Portfolio Pulse from Benzinga Newsdesk
Metagenomi reported a FY23 EPS of $(20.05), a decrease from $(12.82) YoY. As of Dec 31, 2023, cash and equivalents were $271.2M, excluding $81.1M from a Feb 2024 IPO. FY23 saw $91.4M in operational expenditures, with R&D expenses at $94.4M and G&A expenses at $28.8M.
March 27, 2024 | 1:19 pm
News sentiment analysis
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NEGATIVE IMPACT
Metagenomi's FY23 EPS decreased to $(20.05) from $(12.82) YoY, with significant R&D and G&A expenses contributing to the loss. The company's cash position remains strong at $271.2M, excluding proceeds from a recent IPO.
The decrease in EPS indicates a larger loss per share year over year, which could negatively impact investor sentiment in the short term. However, the strong cash position, bolstered by recent IPO proceeds, suggests financial stability. The high R&D and G&A expenses are typical for companies in growth phases but can be a concern if they significantly outpace revenue growth.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100