NASDAQ$NKGN
Nkgen Biotech Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
NKGen Biotech reported financial results for Q3 2023 and provided business highlights.
NKGen Biotech reported a net loss of $33.2 million for the third quarter of 2023, compared to a net loss of $6.7 million in the same period in 2022. As of September 30, 2023, the Company had total cash of $8.8 million. R&D expenses were $3.9 million, while G&A expenses were $3.0 million.
- SNK01 Phase I autologous clinical program demonstrated improvement in neuroinflammation and cognitive function in patients with Alzheimer’s Disease.
- Expect to initiate Phase I/IIa SNK01 clinical program by year end.
- SNK02 Phase I allogeneic clinical program continues to progress.
- Anticipate preliminary solid tumor data readout and IND filing for Parkinson’s Disease in 1Q24.
Headline financials
Revenue & EPS history
Nkgen Biotech · Revenue · Quarterly
$0
Forward guidance
NKGen Biotech is focused on raising additional capital to fund trials and operations and advance its differentiated NK cell therapy programs. The company remains on track with near-term milestones, including commencing a Phase I/IIa clinical trial for Alzheimer’s Disease by year end, an IND filing for its SNK01 program for Parkinson’s Disease, and a preliminary data readout of its SNK02 allogeneic Phase I study in solid tumors.
Tailwinds
- On track to commence Phase I/IIa clinical trial for Alzheimer’s Disease by year end.
- IND filing for SNK01 program for Parkinson’s Disease anticipated in Q1 2024.
- Preliminary data readout of SNK02 allogeneic Phase I study in solid tumors anticipated in Q1 2024.
- SNK01 showed positive data readouts from Phase I clinical study in Alzheimer’s disease.
- NK cell therapy approach shows promise in addressing healthcare challenges.
Headwinds
- Company recognizes volatility in the market.
- Highly focused on raising additional capital to fund trials and operations.
- Net loss of $33.2 million for the third quarter of 2023.
- Transaction costs expensed of $3,329,000.
- Loss on issuance of forward purchase contract of $24,475,000
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q3 2023
+6.0%
Avg return
Earnings day
-0.7%
Avg return
5 days after
+2.7%
Avg return
30 days after
41%
7 / 17 earnings
Positive
+57.1%
Q1 2024
Best reaction
-16.9%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | +0.0% | +0.0% | +0.0% | |
| Q1 2025 | +0.0% | +0.0% | +0.0% | |
| Q2 2025 | +0.0% | +0.0% | +85.0% | |
| Q4 2024 | +21.4% | +0.0% | -5.0% | |
| Q3 2024 | +36.1% | +4.7% | -5.8% | |
| Q2 2024 | -0.8% | -37.1% | -64.1% | |
| Q1 2024 | +57.1% | +26.8% | +6.3% | |
| Q4 2023 | -16.9% | -10.8% | -8.9% | |
| Q3 2023 | +5.1% | +2.6% | +37.9% | |
| Q2 2023 | +0.3% | +0.8% | -2.9% | |
| Q1 2023 | +0.3% | -0.3% | +0.0% | |
| Q4 2022 | +0.3% | -0.3% | +0.0% | |
| Q3 2022 | -0.3% | +0.3% | +0.5% | |
| Q2 2022 | +0.0% | +0.0% | -0.1% | |
| Q1 2022 | +0.0% | +0.3% | +0.7% | |
| Q4 2021 | +0.0% | +0.3% | +0.7% | |
| Q3 2021 | +0.0% | +0.2% | +1.0% | |
| Q1 2021 | — | — | — |
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