Biotech Stocks Surge on Earnings and Debuts

Earnings
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Summary · why it matters

Several biotech companies posted sharp gains on Wednesday, led by Attovia Therapeutics' 28% surge on its Nasdaq debut and American Well's 25% jump after narrowing its quarterly loss. Attovia priced its IPO at $17 per share and closed at $21.90, while American Well reported a net loss of $9.6 million, or $0.59 per share, down from $19.5 million, or $1.24 per share, a year earlier, though revenue fell to $52.0 million from $70.9 million. Perrigo swung to a net income of $74.5 million, or $0.53 per share, from a loss of $8.4 million, or $0.06 per share, despite a slight revenue dip to $1.02 billion. UroGen Pharma climbed over 16% after total revenue more than doubled to $72.5 million, driven by its bladder cancer drug ZUSDURI, and its net loss narrowed to $14.4 million from $49.9 million. Geron rose 21% as net product revenue increased to $57.5 million from $49.0 million, fueled by higher RYTELO sales, and it forecast full-year RYTELO revenue of $220 million to $240 million.

Impact on stocks 5

Biotech & Genomic Medicine▲ · 3 stocks
UroGen Pharma Ltd
URGN
▲ PositiveDemandrelevance

Total revenue more than doubled driven by bladder cancer drug ZUSDURI

Cloud & Digital Infrastructure▲ · 1 stocks
Health Care▲ · 1 stocks

Off-coverage companies 1

Attovia Therapeutics, Inc.Private▲ Positive
Capitalrelevance

IPO priced at $17 and closed at $21.90, surging 28% on debut

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