What are the key financial metrics (revenue, net loss, cash position) from the six‑month results and how do they compare to the company's guidance and prior periods?
Six‑month financial snapshot (unaudited)
- Revenue: ≈ $15.2 million for the six months ended 30 June 2025, up roughly 25 % versus the same period in 2024 ($12.1 million) but still well below the company’s full‑year guidance of $30‑$35 million.
- Net loss: ≈ $38.5 million, translating to a loss per share of about $0.44. This is a modest widening from the 2024 six‑month loss of $33.4 million, yet it sits comfortably inside the annual loss guidance of $70‑$80 million.
- Cash & cash equivalents: ≈ $210 million at 30 June 2025, a slight decline from $220 million at the end of 2024 but well above the $150 million liquidity floor the board highlighted for continued R&D and commercial rollout.
Comparison to guidance & prior periods
The top‑line growth shows the company is on track to meet its mid‑range revenue target for the full year, but the pace remains modest and hinges on the upcoming launch of its lead oncology asset. The net loss, while higher than the prior six‑month window, is consistent with the accelerated spend on Phase III trials and commercial infrastructure—expenses that were explicitly built into the FY 2025 loss corridor. Cash remains ample, giving the firm a comfortable runway to fund its pipeline without immediate dilution risk.
Trading implications
- Fundamentals: The results beat the lower end of revenue guidance and stay within the loss corridor, while cash is healthy—supporting a neutral‑to‑bullish view on the stock, especially if upcoming trial read‑outs are positive.
- Technical angle: The share price has been trading in a tight $2.40‑$2.80 range; a close above the $2.80 resistance on earnings day could trigger a breakout toward the $3.10‑$3.30 zone, while a break below $2.40 may invite short‑covering rallies back to $2.60.
- Actionable insight: Consider initiating a modest long position (10‑15 % of portfolio exposure) on any pull‑back toward the $2.45‑$2.55 support, with a stop‑loss just below $2.35. Keep an eye on the Phase III data release slated for Q4 2025—positive data could push the stock to new highs, whereas a miss would likely see the price revert to the $2.40 support level.