Sonnet BioTherapeutics Holdings First Quarter 2024 Earnings: Beats Expectations
Sonnet BioTherapeutics Holdings (NASDAQ:SONN) First Quarter 2024 Results
Key Financial Results
Net loss: US$1.17m (loss narrowed by 79% from 1Q 2023).
US$0.31 loss per share (improved from US$17.62 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Sonnet BioTherapeutics Holdings Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 55%. Earnings per share (EPS) also surpassed analyst estimates by 64%.
Looking ahead, revenue is forecast to grow 88% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the US.
Performance of the American Biotechs industry.
The company's shares are up 7.3% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 7 warning signs for Sonnet BioTherapeutics Holdings (5 make us uncomfortable!) that you need to be mindful of.
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