Century Therapeutics posts smaller-than-expected Q1 net loss on lower R&D spend

Overview

• US biotech firm's Q1 net loss narrowed, beating analyst expectations

• Q1 operating loss also beat analyst expectations

• Company ended Q1 with $217 mln in cash, projects runway into Q1 2029

Outlook

• Century projects cash runway into 1Q 2029

Result Drivers

• LOWER R&D SPENDING - Co said Q1 R&D expenses fell mainly due to reduced personnel and lower clinical trial spending

• LOWER G&A EXPENSES - Q1 G&A expenses decreased from prior year period

Company press release: ID:nGNX63q5G4

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "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 Century Therapeutics Inc is $4.50, about 96.5% above its May 12 closing price of $2.29

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