Skin drug developer Edesa Biotech's FY net loss widens to $7.2 mln

Overview

• Canada biopharma firm's fiscal yr net loss widens to $7.2 mln

• Operating expenses for fiscal yr rose to $7.9 mln

Outlook

• Edesa aims to secure non-dilutive funding and collaborative arrangements

Result Drivers

• VITILIGO PROGRAM EXPENSES - Increased R&D expenses due to manufacturing activities for Phase 2 study of EB06 for vitiligo

• R&D EXPENSES - Research and development expenses increased by $0.8 million to $3.7 million

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Edesa Biotech Inc is $9.00, about 408.5% above its December 11 closing price of $1.77

Press Release: ID:nGNX9c4cJ8

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.