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G1 Therapeutics (GTHX) investor relations material
G1 Therapeutics Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net product sales for COSELA increased 43% year-over-year to $15.8 million for Q2 2024, with double-digit quarter-over-quarter growth in vial volume and net revenue.
License revenue dropped to $0.7 million from $31.3 million in Q2 2023, reflecting the absence of prior year one-time payments.
Net loss for Q2 2024 was $5.5 million, compared to net income of $8.7 million in Q2 2023, due to lower license revenue.
Pending acquisition by Pharmacosmos for $7.15 per share in cash, expected to close in late Q3 2024.
Announced two license agreements for lerociclib, providing upfront payments, milestones, and royalties.
Financial highlights
Q2 2024 revenues: $16.5 million (product sales $15.8M, license revenue $0.7M); Q2 2023: $42.4 million (product sales $11.1M, license revenue $31.3M).
Operating expenses decreased to $20.1 million in Q2 2024 from $30.9 million in Q2 2023, mainly from lower R&D and SG&A costs.
Net loss per share was $(0.10) (basic and diluted) for Q2 2024, versus $0.17 (basic) and $0.14 (diluted) in Q2 2023.
Cash, cash equivalents, and marketable securities totaled $60.7 million as of June 30, 2024.
Accumulated deficit reached $795.7 million as of June 30, 2024.
Outlook and guidance
Reaffirmed 2024 net COSELA revenue guidance of $60M–$70M.
Expects 2024 operational expenses to be 25%–30% below 2023 levels.
Management expects to achieve profitability in the second half of the next fiscal year.
Cash runway expected to fund operations into Q3 2025 and cover covenants for at least 12 months.
No new R&D activities planned; focus remains on global commercialization of COSELA.
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