For The FY24, At Constant Exchange Rates, Molecular Partners Reiterates Its Guidance For Total Expenses Of CHF 65–70 Million. ~CHF 7 Million Of This Will Be Non-Cash Effective Costs For Share-Based Payments, Pension Accounting And Depreciation. This Guidance Does Not Include Any Potential Receipts From R&D Collaborators
Portfolio Pulse from Benzinga Newsdesk
Molecular Partners reiterates its FY24 guidance for total expenses of CHF 65–70 million, with CHF 7 million in non-cash costs. The company has CHF 143.6 million in cash and no debt, expecting to be funded into 2027. It raised USD 20 million through a US offering of ADSs, with plans to use proceeds for its radiopharmaceutical pipeline.
October 31, 2024 | 8:07 pm
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Molecular Partners reiterated its FY24 expense guidance and raised USD 20 million through a US offering of ADSs. The company plans to use the proceeds for its radiopharmaceutical pipeline and is funded into 2027.
The reiteration of expense guidance and successful capital raise through a US offering are positive indicators for Molecular Partners. The funds will support the development of its radiopharmaceutical pipeline, which could drive future growth. The company's strong cash position and no debt provide financial stability, likely leading to a positive short-term impact on the stock price.
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