As Of June 30, 2024, Gyre Therapeutics Had Cash And Cash Equivalents Of $16.1M, Short-term Bank Deposits Of $9M, And Long-term Certificates Of Deposit Of $28.8M. Based On Current Plans, Gyre Anticipates That Its Cash Resources Will Enable It To Fund Operations Through At Least 12 Months
Portfolio Pulse from Benzinga Newsdesk
As of June 30, 2024, Gyre Therapeutics reported having $16.1M in cash and cash equivalents, $9M in short-term bank deposits, and $28.8M in long-term certificates of deposit. The company anticipates that these resources will fund operations for at least the next 12 months.
August 13, 2024 | 10:05 am
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Gyre Therapeutics has reported a strong cash position with $16.1M in cash, $9M in short-term deposits, and $28.8M in long-term CDs as of June 30, 2024. The company expects these resources to fund operations for at least the next 12 months.
The strong cash position and the ability to fund operations for at least 12 months provide financial stability and reduce the risk of liquidity issues, which is positive for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100