Featured Earnings Report: Aduro BioTech Inc. (NASDAQ: ADRO)

BERKELEY, Calif., July 26, 2019 – Shares of Aduro BioTech Inc. (NASDAQ: ADRO) showed the bullish trend with a higher momentum of 7.48% to $1.37. The company traded total volume of 442.210K shares as contrast to its average volume of 481.08K shares. The company has a market value of $105.27M and about 82.89M shares outstanding.

Aduro Biotech, Inc. (ADRO) reported revenue of $3.90M for the first quarter of 2019 contrast to $6.60M for the same period in 2018. The decrease in revenue for the period was mainly because of a $3.00M milestone payment received from Merck in 2018 for initiation of the Phase 1 trial for the anti-CD27 antibody. The decrease was partially offset by $1.40M in revenue recognized under the Lilly agreement.

Cash Position – Cash, cash equivalents and marketable securities totaled $266.90M at March 31, 2019, contrast to $277.90M at December 31, 2018. Cash spend for the first quarter of 2019 included $2.20M in one-time charges resulting from the company’s planned reset and was offset by receipt of a $12.0M upfront payment from the 2018 license agreement with Eli Lilly.

Expenses –

  • Research and development expenses were $19.50M for the first quarter of 2019 contrast to $20.10M for the same period in 2018. The first quarter of 2019 included $1.70M in one-time costs associated with the planned reset, which partially offsets a $2.30M reduction in stock-based compensation and personnel costs as contrast to 2018.
  • General and administrative expenses were $9.20M for the first quarter of 2019 contrast to $9.00M for the same period in 2018. The first quarter of 2019 included $0.80M in one-time costs associated with the planned reset, which partially offsets a $1.10M reduction in stock-based compensation and personnel costs as contrast to 2018. In addition, general and administrative expenses for the period were higher because of professional services and consulting costs.

Net Loss – Net loss for the first quarter of 2019 was $23.40M or $0.29 per share contrast to net loss of $21.50M or $0.28 per share for the same period in 2018.

ROE was recorded as -66.50% while beta factor was 1.46. The stock, as of recent close, has shown the weekly downbeat performance of -13.61% which was maintained at -51.89% in this year.

Ron Barnett

I am Ron Barnett and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions.

I am the driving force behind Digital Market News with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Healthcare” category.

Address: 1091 Stratford Park, St Meinrad, IN 47577, USA
Phone: (+1) 812-836-1428
Email: ronbarnett@digitalmarketnews.com
Ron Barnett
Ron Barnett

Ron Barnett

I am Ron Barnett and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Digital Market News with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Healthcare” category. Address: 1091 Stratford Park, St Meinrad, IN 47577, USA Phone: (+1) 812-836-1428 Email: ronbarnett@digitalmarketnews.com

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