Rubius Therapeutics Reports $179.7 Million Net Loss for 2022
The company's revenue remains at $0, emphasizing the need for future growth strategies
Rubius Therapeutics, Inc.,(RUBY) a biopharmaceutical company focused on developing cellular therapies, revealed its financial results for the year ended December 31, 2022. Despite significant investment in research and development, the company reported a net loss of $179.7 million. Furthermore, Rubius Therapeutics did not generate any revenue during the year, indicating the importance of implementing growth initiatives moving forward.
Consolidated Balance Sheets: Assets and Liabilities
As of December 31, 2022, Rubius Therapeutics' total assets amounted to $23.1 million, a substantial decline from the previous year's $318.0 million. The company's current assets, including cash and cash equivalents, stood at $20.2 million, while the remaining assets comprised operating lease rights-of-use and property, plant, and equipment. On the other hand, liabilities totaled $7.9 million, with current liabilities accounting for $7.9 million and long-term debt reaching $76.2 million.
