Carna Biosciences reports wider first-quarter net loss
Updated
Updated · MarketWatch · May 8
Carna Biosciences reports wider first-quarter net loss
3 articles · Updated · MarketWatch · May 8
The Japanese drug developer posted a Y513 million net loss for the quarter ended 31 March, versus Y499 million a year earlier, while revenue rose to Y183 million from Y143 million.
Operating loss narrowed to Y458 million from Y497 million, and pretax loss improved to Y488 million from Y498 million.
Per-share loss widened slightly to Y26.78 from Y26.13, with results prepared under Japanese accounting standards.
As losses grow despite rising revenue, can Carna's drug pipeline deliver profits before its cash runs out?
Is Carna's new leukemia drug truly a blockbuster capable of justifying its massive R&D spending?