Veradermics Q3 net loss widens as G&A expenses surge
Overview
US biopharma firm reported Q3 net loss widened slightly to $21 mln
Operating expenses fell yr/yr on lower R&D, while G&A costs rose sharply
Company ended Q3 with $798 mln cash, expected to fund operations into 2030
Outlook
Company expects topline data from Phase 2/3 Study '306' in 1H27
Veradermics says cash position expected to fund operations into 2030
Result Drivers
R&D EXPENSES - Q3 R&D expenses fell $2 mln yr/yr, mainly due to lower clinical and development costs for VDPHL01
G&A EXPENSES - Q3 G&A expenses rose $10.5 mln yr/yr, driven by higher payroll, stock-based compensation, commercial readiness costs and professional fees
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Loss | $21 mln | ||
Q3 Income from Operations | -$28.78 mln | ||
Q3 Operating Expenses | $28.78 mln | ||
Q3 Pretax Loss | $21 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Veradermics, Incorporated is $178.50, about 24% above its November 9 closing price of $143.95
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)