Cidara Therapeutics Q1 2024 GAAP EPS $(2.28) Misses $(0.20) Estimate, Sales $8.46M Beat $6.30M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cidara Therapeutics (NASDAQ:CDTX) reported Q1 2024 GAAP EPS of $(2.28), significantly missing the $(0.20) estimate. However, sales of $8.46M beat the $6.30M estimate, despite a 67.44% decrease from the same period last year.
May 15, 2024 | 8:22 pm
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Cidara Therapeutics reported a significant EPS miss for Q1 2024, with a GAAP EPS of $(2.28) compared to the $(0.20) estimate. However, sales of $8.46M exceeded the $6.30M estimate, despite a 67.44% year-over-year decline.
The significant EPS miss is likely to negatively impact investor sentiment and the stock price in the short term. Although sales beat estimates, the substantial year-over-year decline in sales further adds to the negative outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100