Published on 3 Nov 2023 on GuruFocus.com via Yahoo Finance

NGM Biopharmaceuticals Inc (NGM) Reports Q3 2023 Financial Results

NGM Biopharmaceuticals Inc (NASDAQ:NGM) reported a net loss of $28.8 million for Q3 2023, compared to a net loss of $47.3 million for the same period in 2022.The company's cash, cash equivalents, and short-term marketable securities were $166.0 million as of September 30, 2023, compared to $271.5 million as of December 31, 2022.NGM expects its cash runway to extend into mid-2025.Dr. Jean-Frederic Viret has been appointed as Chief Financial Officer effective November 3, 2023.

Warning! GuruFocus has detected 4 Warning Signs with NGM.

NGM Biopharmaceuticals Inc (NASDAQ:NGM) released its Q3 2023 earnings report on November 2, 2023. The company reported a net loss of $28.8 million for the quarter ended September 30, 2023, compared to a net loss of $47.3 million for the same period in 2022. This decrease in net loss reflects the company's ongoing efforts to manage its expenses and increase its operational efficiency.