Published on 28 Feb 2024 on GuruFocus.com via Yahoo Finance
G1 Therapeutics Inc (GTHX) Reports Strong Revenue Growth in 2023
Net Revenue Growth: G1 Therapeutics Inc (NASDAQ:GTHX) achieved a 48% increase in net revenue from COSELA sales in 2023, amounting to $46.3 million.Fourth Quarter Performance: The company reported a 29% growth in net COSELA revenue in Q4 2023, reaching $13.9 million.Operational Efficiency: Operating expenses significantly reduced, contributing to a lower net loss compared to the previous year.Research and Development: R&D expenses decreased as the company focused on ongoing clinical trials, including the pivotal PRESERVE 2 trial.2024 Revenue Guidance: G1 Therapeutics provided a net revenue guidance of $60 to $70 million for COSELA in 2024.Financial Position: The company ended 2023 with $82.2 million in cash, cash equivalents, and marketable securities, extending its cash runway into 2025.
Warning! GuruFocus has detected 4 Warning Signs with GTHX.
G1 Therapeutics Inc (NASDAQ:GTHX), a commercial-stage biopharmaceutical company, released its 8-K filing on February 28, 2024, detailing its financial results for the fourth quarter and full year of 2023. The company, known for developing novel therapies for cancer treatment, reported a significant increase in net revenue driven by sales of its flagship product, COSELA (trilaciclib).