Each week, Clinical Trials Arena journalists pick out insights from company filings that highlight sentiments in our sector. These filings signals are based on GlobalData’s analysis of earnings statements, call transcripts, investor presentations and sustainability reports. They tell us about key topics on the minds of business leaders and investors, and the themes driving a company’s activities.
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This week we look at the GlobalData company’s database to understand company filings for financial earnings and losses for the last quarter. Our focus is ARCA biopharma which released quarterly financial reports for Q2 2023, which ended 30 June 2023. The quarterly reports was announced on 21 July 2023 and compares the previous quarter to Q2 2023. Compared to the previous quarter’s cash and cash equivalents, the second quarter hit $42.4m from $40.2m. The company developing Gencaro and rNAPc2 believes this should be enough to support them through the end of 2024.
Asides operating expenses totaling $2m, the company’s net loss was valued at $1.5m for Q2 2023. The Colorado-based biotech is currently evaluating development options, as well as considering prospective partnerships. Generated interests and other income stood at $493,000 and $72,000 over Q2 2023. The company witnessed sentiment gains of 0.24.
