Reneo Pharmaceuticals Q4 GAAP EPS $(0.70) Misses $(0.62) Estimate; Cash, Cash Equivalents, And Short-term Investments Of $103M
Portfolio Pulse from Benzinga Newsdesk
Reneo Pharmaceuticals (RPHM) reported a Q4 GAAP EPS of $(0.70), missing the $(0.62) estimate, marking a 25% increase in losses from the same period last year. The company also reported having $103M in cash, cash equivalents, and short-term investments.
March 28, 2024 | 11:37 am
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Reneo Pharmaceuticals reported a larger than expected quarterly loss and an increase in losses compared to the previous year, with $103M in cash reserves.
The reported earnings miss and the increase in losses year-over-year are likely to negatively impact investor sentiment towards RPHM in the short term. The mention of $103M in cash reserves might provide some cushion, but the primary focus for investors will be the earnings miss and increased losses, which typically lead to a negative reaction in the stock price.
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IMPORTANCE 90
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