Foghorn Therapeutics Q2 2024 GAAP EPS $(0.45) Beats $(0.47) Estimate, Sales $6.888M Beat $6.094M Estimate; Cash, Cash Equivalents And Short-term Investments Of $285.2M As Of June 30, 2024 And Extends Expected Cash Runway Into 2027
Portfolio Pulse from Benzinga Newsdesk
Foghorn Therapeutics reported its Q2 2024 financial results, with a GAAP EPS of $(0.45) beating the estimate of $(0.47). Sales were $6.888M, surpassing the $6.094M estimate. The company has $285.2M in cash, cash equivalents, and short-term investments as of June 30, 2024, extending its expected cash runway into 2027.
August 08, 2024 | 12:25 pm
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Foghorn Therapeutics reported better-than-expected Q2 2024 financial results, with a GAAP EPS of $(0.45) beating the $(0.47) estimate and sales of $6.888M surpassing the $6.094M estimate. The company also has a strong cash position of $285.2M, extending its cash runway into 2027.
The better-than-expected earnings and sales figures, along with a strong cash position extending the cash runway into 2027, are positive indicators for Foghorn Therapeutics. This is likely to boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100