Biotech firm Benitec's fiscal Q1 net loss widens

Reuters11-15

Biotech firm Benitec's fiscal Q1 net loss widens

Overview

Benitec fiscal Q1 net loss widens to $9 mln, with increased operating expenses
Company raised $100 mln in oversubscribed public offering to fund BB-301 advancement
BB-301 granted FDA Fast Track Designation after positive Phase 1b/2a trial results

Outlook

Company plans to advance BB-301 development with FDA collaboration in 2026
Benitec raised $100 mln to fund BB-301 OPMD program

Result Drivers

CAPITAL RAISE - Co raised $100 mln in an oversubscribed public offering to fund BB-301 advancement and regulatory activities
R&D: Company incurred $3.4 million of research and development expenses for the quarter

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		-$0.22
Q1 Net Income		-$9 mln
Q1 Operating Income		-$8.90 mln

Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 8 "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 Benitec Biopharma Inc is $29.50, about 55.4% above its November 13 closing price of $13.15

Press Release: ID:nGNX8CQRBj

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

(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.)

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