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CymaBay Therapeutics, Inc. [CBAY] reports annual net loss of $105,370,000.0
By USInMinutes - Feb 29, 2024, 05:40 AM ET
Last Updated - May 08, 2024, 02:00 PM EDT
Company Reports Revenue of $31.1 million
CymaBay Therapeutics, Inc. [CBAY] has reported a net loss of $105,370,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $31.1 million
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Based in NEWARK, California, CymaBay Therapeutics, Inc. operates in the MANUFACTURING sector.
In the financial analysis for the 12 months ended December 31, 2023, there are significant changes in key figures compared to the previous periods.
Collaboration revenue for the current period stands at $31.1 million, a substantial increase compared to $0 in the same period of 2022 and 2021.
Total operating expenses for the current period amount to $132.8 million, showing a notable rise from $93.1 million in 2022 and $87.6 million in 2021. Within operating expenses, research and development expenses increased to $80.8 million from $68.0 million in 2022 and $64.5 million in 2021. General and administrative expenses also saw a significant increase to $52.0 million from $25.1 million in 2022 and $23.0 million in 2021.
The loss from operations for the current period is reported at $101.7 million, which is higher than the loss reported in 2022 and 2021, both at $93.1 million and $87.6 million, respectively.
Other income (expense), net, has improved to a loss of $3.7 million in the current period, in comparison to a loss of $12.9 million in 2022 and $2.4 million in 2021.
The net loss for the 12 months ended December 31, 2023, is $105.4 million, a slight improvement compared to the net loss of $106.0 million in 2022 and $90.0 million in 2021.
Regarding earnings per share, the basic net loss per common share for the current period is reported at ($0.99), while the diluted net loss per common share is also ($0.99). This shows an improvement from ($1.21) for both basic and diluted earnings per share in 2022 and ($1.27) in 2021.
Overall, the company experienced growth in revenue and operating expenses but managed to reduce the net loss slightly for the period, reflecting some positive developments in its financial performance.
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