Overview
Design Therapeutics Q2 net loss of $19.1 mln misses analyst expectations
Favorable PK data for DT-216P2 in Friedreich Ataxia; U.S. trials on hold
Outlook
Company plans to address FDA clinical hold with clinical data
Result Drivers
FDA HOLD - U.S. trials for DT-216P2 are on hold due to FDA concerns about starting dose, with plans to address using clinical and nonclinical data
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income | Miss | -$19.08 mln | -$18.90 mln (3 Analysts) |
Q2 Basic EPS | -$0.34 | ||
Q2 Operating Expenses | $21.57 mln | ||
Q2 Operating Income | -$21.57 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "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 Design Therapeutics Inc is $5.00, about 13% above its August 6 closing price of $4.35
Press Release: ID:nGNX17c95l
(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.)