Catabasis (CATB) Beats Earnings in Q4, Revenues Nil
Catabasis Pharmaceuticals, Inc. CATB is a clinical-stage biopharmaceutical company focused on developing innovating treatments. The company’s lead pipeline candidate, edasalonexent, is being developed for treating Duchenne muscular dystrophy (“DMD”) in a late-stage study.
Catabasis’ earnings track record has been mixed so far. Over the four trailing quarters, the company posted an average positive earnings surprise of 18.11%, beating estimates in three quarters and missing the same once.
Currently, Catabasis has a Zacks Rank #2 (Buy) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Catabasis reported a loss of 85 cents per share which was narrower than the Zacks Consensus Estimate of loss of 93 cents.
No Revenues: Catabasis recorded no revenues in the quarter. However, revenues in the year-ago quarter were $0.25 million.
Key Stats: General and administrative expenses were up 41% at $2.4 million while research & development expenses decreased 7.5% to $3.7 million. The company ended 2018 with $37.6 million cash, cash equivalents and short-term investments. In February 2019, the company recorded net proceeds of $18.5 million from sale of its common stock.
Share Price Impact:Shares were up 2% in pre-market trading.
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