Generation Bio Reports Second Quarter 2024 Financial Results
Generation Bio Co. (Nasdaq: GBIO) reported its Q2 2024 financial results, highlighting a cash balance of $216.9 million, expected to fund operations into 2H 2027. The company's focus remains on developing in vivo genetic medicines using its proprietary cell-targeted LNP delivery system. Key financial metrics include:
- R&D expenses: $16.4 million, down from $21.8 million in Q2 2023
- G&A expenses: $9.5 million, decreased from $13.0 million in Q2 2023
- Net loss: $20.4 million ($0.31 per share), improved from $31.1 million ($0.47 per share) in Q2 2023
Generation Bio is advancing therapies for T cells, hematopoietic stem cells, and hepatocytes, aiming to create redosable, point-of-care treatments that are scalable at low cost.
Generation Bio Co. (Nasdaq: GBIO) ha riportato i risultati finanziari del Q2 2024, evidenziando un saldo di cassa di $216.9 milioni, previsto per finanziare le operazioni fino al secondo semestre del 2027. L'attenzione dell'azienda rimane sullo sviluppo di medicinali genetici in vivo utilizzando il suo sistema di somministrazione LNP mirato alle cellule. I principali indicatori finanziari includono:
- Spese per R&S: $16.4 milioni, in calo rispetto ai $21.8 milioni del Q2 2023
- Spese generali e amministrative: $9.5 milioni, diminuite dai $13.0 milioni del Q2 2023
- Perdita netta: $20.4 milioni ($0,31 per azione), migliorata rispetto ai $31.1 milioni ($0,47 per azione) del Q2 2023
Generation Bio sta avanzando terapie per le cellule T, le cellule staminali ematopoietiche e gli epatociti, puntando a creare trattamenti ripetibili e point-of-care che siano scalabili a basso costo.
Generation Bio Co. (Nasdaq: GBIO) reportó sus resultados financieros del Q2 2024, destacando un saldo de caja de $216.9 millones, que se espera financie las operaciones hasta la segunda mitad de 2027. El enfoque de la empresa sigue siendo el desarrollo de medicamentos genéticos in vivo utilizando su sistema de entrega LNP dirigido a células. Las métricas financieras clave incluyen:
- Gastos en I+D: $16.4 millones, una disminución respecto a $21.8 millones en el Q2 2023
- Gastos generales y administrativos: $9.5 millones, reducidos de $13.0 millones en el Q2 2023
- Pérdida neta: $20.4 millones ($0.31 por acción), mejorada desde $31.1 millones ($0.47 por acción) en el Q2 2023
Generation Bio está avanzando en terapias para células T, células madre hematopoyéticas y hepatocitos, con el objetivo de crear tratamientos redosables y punto de atención que sean escalables a bajo costo.
Generation Bio Co. (Nasdaq: GBIO)가 2024년 2분기 재무 결과를 발표하였으며, $216.9 백만의 현금 잔고를 강조하였습니다. 이는 2027년 하반기까지 운영 자금을 지원할 예정입니다. 회사는 자체 세포 표적 LNP 전달 시스템을 사용하여 생체 내 유전자 의약품 개발에 집중하고 있습니다. 주요 재무 지표는 다음과 같습니다:
- R&D 비용: $16.4 백만, 2023년 2분기 $21.8 백만에서 감소
- 일반관리비: $9.5 백만, 2023년 2분기 $13.0 백만에서 감소
- 순손실: $20.4 백만 ($0.31 주당), 2023년 2분기 $31.1 백만 ($0.47 주당)에서 개선됨
Generation Bio는 T 세포, 조혈모세포 및 간세포를 위한 치료법을 앞당기고 있으며, 저비용으로 확장 가능한 재사용 가능한 현장 치료제를 만드는 것을 목표로 하고 있습니다.
Generation Bio Co. (Nasdaq: GBIO) a publié ses résultats financiers pour le deuxième trimestre 2024, mettant en évidence un solde de trésorerie de $216.9 millions, qui devrait financer les opérations jusqu'au deuxième semestre 2027. L'entreprise reste concentrée sur le développement de médicaments génétiques in vivo en utilisant son système de livraison LNP ciblé sur les cellules. Les principaux indicateurs financiers comprennent :
- Dépenses R&D : $16.4 millions, en baisse par rapport à $21.8 millions au Q2 2023
- Dépenses générales et administratives : $9.5 millions, diminuées de $13.0 millions au Q2 2023
- Perte nette : $20.4 millions ($0.31 par action), améliorée par rapport à $31.1 millions ($0.47 par action) au Q2 2023
Generation Bio fait avancer des thérapies pour les cellules T, les cellules souches hématopoïétiques et les hépatocytes, visant à créer des traitements réutilisables et accessibles qui sont évolutifs à bas coût.
Generation Bio Co. (Nasdaq: GBIO) hat seine finanziellen Ergebnisse für das zweite Quartal 2024 veröffentlicht und dabei einen Bargeldbestand von $216,9 Millionen hervorgehoben, der voraussichtlich die Betriebskosten bis in die zweite Hälfte von 2027 decken wird. Der Schwerpunkt des Unternehmens liegt auf der Entwicklung von in-vivo-genetischen Medikamenten unter Verwendung seines firmeneigenen, zellgerichteten LNP-Transportsystems. Wichtige Finanzkennzahlen sind:
- F&E-Ausgaben: $16,4 Millionen, im Vergleich zu $21,8 Millionen im Q2 2023 gesenkt
- Allgemeine und administrative Ausgaben: $9,5 Millionen, reduziert von $13,0 Millionen im Q2 2023
- Nettoverlust: $20,4 Millionen ($0,31 pro Aktie), verbessert gegenüber $31,1 Millionen ($0,47 pro Aktie) im Q2 2023
Generation Bio avanciert Therapien für T-Zellen, hämatopoetische Stammzellen und Hepatozyten mit dem Ziel, wiederverwendbare, punktuelle Behandlungen zu schaffen, die kostengünstig skalierbar sind.
- Cash balance of $216.9 million expected to fund operations into second half of 2027
- Decreased R&D expenses from $21.8 million in Q2 2023 to $16.4 million in Q2 2024
- Reduced G&A expenses from $13.0 million in Q2 2023 to $9.5 million in Q2 2024
- Improved net loss from $31.1 million in Q2 2023 to $20.4 million in Q2 2024
- Net loss of $20.4 million for Q2 2024
Insights
Generation Bio's Q2 2024 results reveal a mixed financial picture. The company's cash position of
Positively, both R&D and G&A expenses have decreased year-over-year, by
While the company is making progress in controlling costs, it's important to monitor the balance between expense reduction and R&D investment to ensure continued innovation in their genetic medicine platform.
Generation Bio's focus on their proprietary cell-targeted LNP delivery system is a key differentiator in the competitive genetic medicine landscape. The platform's potential for redosable, point-of-care delivery and low-cost scalability could address significant challenges in current ex vivo approaches.
The company's iqDNA technology, designed for long-term protein expression, is particularly intriguing. If successful, it could lead to transformative therapies for conditions like hemophilia A, sickle cell disease and beta-thalassemia.
However, it's important to note that the company is still in early stages, with no mention of clinical trials or regulatory milestones. Investors should closely monitor upcoming preclinical data and potential partnerships as indicators of the platform's viability and commercial potential.
Cash balance of
CAMBRIDGE, Mass., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Generation Bio Co. (Nasdaq: GBIO), a biotechnology company innovating genetic medicines for people living with rare and prevalent diseases, reported business highlights and second quarter 2024 financial results.
“We continue to apply our proprietary cell-targeted LNP delivery system to develop in vivo genetic medicines for T cells, hematopoietic stem cells and hepatocytes,” said Geoff McDonough, chief executive officer of Generation Bio. “We believe our delivery platform has the potential to create uniquely differentiated in vivo therapeutics that are redosable, delivered at point-of-care, and scalable at low cost, thereby addressing challenges of current ex vivo genetic medicine approaches, creating new market opportunities, and significantly expanding access for patients.”
Generation Bio’s novel, proprietary cell-targeted lipid nanoparticle (ctLNP) delivery system is engineered to have an extended half-life in systemic circulation compared to current LNP technologies that enables the biologic targeting ligands on the company’s ctLNPs to engage with receptors on specific cell types and tissues to achieve selective, potent, and efficient cargo expression. ctLNPs can deliver a variety of cargos, including Generation Bio’s proprietary immune-quiet form of DNA (iqDNA). iqDNA is designed to express or replace large genes to achieve years-long expression of therapeutic proteins. Generation Bio is focused on developing a range of differentiated, redosable therapeutics: in vivo T cell therapies for autoimmune indications, in vivo hematopoietic stem cells (HSC) therapies for sickle cell disease and beta-thalassemia, and systemic delivery to the liver for hemophilia A.
Second Quarter 2024 Financial Results
- Cash Position: Cash, cash equivalents, and marketable securities were
$216.9 million as of June 30, 2024, compared to$264.4 million in cash, cash equivalents, and marketable securities as of December 31, 2023. The company continues to believe that its cash, cash equivalents, and marketable securities will fund its operating expenses and capital expenditures into the second half of 2027. - R&D Expenses: Research and development (R&D) expenses were
$16.4 million for the quarter ended June 30, 2024, compared to$21.8 million for the quarter ended June 30, 2023. - G&A Expenses: General and administrative (G&A) expenses were
$9.5 million for the quarter ended June 30, 2024, compared to$13.0 million for the quarter ended June 30, 2023. - Net Loss: Net loss was
$20.4 million , or$0.31 b asic and diluted net loss per share, for the quarter ended June 30, 2024, compared to a net loss of$31.1 million , or$0.47 b asic and diluted net loss per share, for the quarter ended June 30, 2023.
About Generation Bio
Generation Bio is innovating non-viral genetic medicines to provide durable and redosable treatments for hundreds of millions of patients living with rare and prevalent diseases. The company is developing two distinct and complementary platforms: a potent, highly selective cell-targeted lipid nanoparticle (ctLNP) delivery system and a novel immune-quiet DNA (iqDNA) cargo produced by a scalable capsid-free manufacturing process that uses proprietary cell-free rapid enzymatic synthesis (RES). With these platforms, Generation Bio aims to develop the next wave of non-viral genetic medicines to support its mission to extend the reach of genetic medicine to more people living with more diseases, around the world.
For more information, please visit www.generationbio.com.
Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for the company, including statements about the company’s strategic plans or objectives, cash resources, technology platforms, research and clinical development plans, and preclinical data, and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties inherent in the identification and development of product candidates, including the conduct of research activities, the initiation and completion of preclinical studies and clinical trials and clinical development of the company’s product candidates; uncertainties as to the availability and timing of results from preclinical studies and clinical trials; uncertainties regarding the company’s novel platforms and related technologies; whether results from preclinical studies will be predictive of the results of later preclinical studies and clinical trials; challenges in the manufacture of genetic medicine products; whether the company’s cash resources are sufficient to fund the company’s operating expenses and capital expenditure requirements for the period anticipated; as well as the other risks and uncertainties set forth in the “Risk Factors” section of the company’s most recent annual report on Form 10-K, which is on file with the Securities and Exchange Commission, and in subsequent filings the company may make with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the company’s views as of the date hereof. The company anticipates that subsequent events and developments will cause the company’s views to change. However, while the company may elect to update these forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the company’s views as of any date subsequent to the date on which they were made.
Investors and Media Contact
Maren Killackey
Generation Bio
mkillackey@generationbio.com
857-371-4638
| GENERATION BIO CO. CONSOLIDATED BALANCE SHEET DATA (Unaudited) (In thousands) | |||||||||||||
| Earnings Release Balance Sheet | June 30, 2024 | December 31, 2023 | |||||||||||
| Cash, cash equivalents and marketable securities | $ | 216,942 | $ | 264,364 | |||||||||
| Working capital | 193,178 | 232,704 | |||||||||||
| Total assets | 265,264 | 374,758 | |||||||||||
| Total stockholders’ equity | 115,407 | 203,128 | |||||||||||
| GENERATION BIO CO. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in thousands, except share and per share data) | |||||||||||||
| Three Months Ended June 30, | |||||||||||||
| 2024 | 2023 | ||||||||||||
| Revenues: | |||||||||||||
| Collaboration Revenue | $ | 4,091 | $ | 880 | |||||||||
| Operating expenses: | |||||||||||||
| Research and development | 16,388 | 21,832 | |||||||||||
| General and administrative | 9,515 | 12,967 | |||||||||||
| Loss on lease termination | 1,497 | — | |||||||||||
| Total operating expenses | 27,400 | 34,799 | |||||||||||
| Loss from operations | (23,309 | ) | (33,919 | ) | |||||||||
| Other income: | |||||||||||||
| Other income and interest income, net | 2,877 | 2,853 | |||||||||||
| Net loss | $ | (20,432 | ) | $ | (31,066 | ) | |||||||
| Net loss per share, basic and diluted | $ | (0.31 | ) | $ | (0.47 | ) | |||||||
| Weighted average common shares outstanding, basic and diluted | 66,531,000 | 65,656,151 | |||||||||||
| Comprehensive loss: | |||||||||||||
| Net loss | $ | (20,432 | ) | $ | (31,066 | ) | |||||||
| Other comprehensive loss: | |||||||||||||
| Unrealized losses on marketable securities | (83 | ) | (57 | ) | |||||||||
| Comprehensive loss | $ | (20,515 | ) | $ | (31,123 | ) | |||||||
FAQ
What was Generation Bio's (GBIO) cash balance as of June 30, 2024?
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