RESEARCH TRIANGLE PARK – Earnings season continues with seven Triangle firms updating their financial reports this week. Here they are:
- Precision BioSciences
DURHAM – Precision BioSciences Inc. (DTIL) on Thursday reported second-quarter net income of $21.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Durham, North Carolina-based company said it had profit of 36 cents.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.
The genome editing company posted revenue of $68.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $22.7 million.
Precision BioSciences shares have risen 26% since the beginning of the year. The stock has climbed 56% in the last 12 months.
- Novan
DURHAM – Novan Inc. (NOVN) on Thursday reported a loss of $6 million in its second quarter.
On a per-share basis, the Durham, North Carolina-based company said it had a loss of 39 cents.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.
The drug development company posted revenue of $747,000 in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $840,000.
Novan shares have increased roughly 3% since the beginning of the year. The stock has climbed 35% in the last 12 months.
- Fathom Holdings
CARY – Fathom Holdings Inc. (FTHM) on Wednesday reported a second-quarter loss of $2.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Cary, North Carolina-based company said it had a loss of 15 cents.
The company posted revenue of $84.2 million in the period.
Fathom Holdings shares have dropped 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.21, more than doubling in the last 12 months.
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