FibroGen Q2 revenue up 49% but net loss widens; multiple Phase 3 failures; new CEO appointed

KYNTRA BIO, INC.

2023-Q2 EPS reported -$1.71 revenue$80,480,000

Q2 total revenue $44.3M (+49% YoY); net loss $87.7M ($0.90) vs $72.6M ($0.78) last year; includes $24.6M one-time charge.
Reported negative topline from three Phase 3 trials: MATTERHORN (roxadustat MDS), LELANTOS-1 (pamrevlumab DMD), ZEPHYRUS-1 (pamrevlumab IPF); ZEPHYRUS-2 discontinued.
China roxadustat net sales $76.4M (+44% YoY) driven by >40% volume growth; number one anemia brand in China.
Appointed Thane Wettig as Interim CEO; implemented cost reduction plan targeting $100-120M annualized GAAP expense savings.
Exclusive license for FOR46 (FG-3246) ADC targeting CD46 for mCRPC; $75M non-dilutive term loan from Morgan Stanley.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

KYNTRA BIO, INC. reported second quarter 2023 results: revenue $44.3 million, net income $87.7 million, EPS $0.90 net loss per basic and diluted share.

Period: second quarter 2023
Revenue: $44.3 million
Net income: $87.7 million
EPS: $0.90 net loss per basic and diluted share
Result: reported results

Exact text from the filing

the filing of two INDs: FG-3165 (anti-Gal9 antibody) in 1Q 2024 and FG-3175 (anti-CCR8 antibody) in 2H 2024. Financial: • Total revenue for the second quarter of 2023 was $44.3 million, as compared to $29.8 million for the second quarter of 2022, an increase of 49%. • Net loss for the second quarter of 2023 was $87.7 million, or $0.90 net loss per basic and

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Source: SEC EDGAR

accession 0000950170-23-039052

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