Gritstone stock falls ~10% after Q1 net loss widens, revenues shrink
AmnajKhetsamtip
- Gritstone bio (NASDAQ:GRTS) stock fell ~10% on Friday after Q1 revenue missed estimates.
- Net loss widened to -$33.98M, compared to -$28.92M in Q1 2022.
- Total revenues fell -66% Y/Y to $2.44M.
- Collaboration and license revenues declined -88.5% Y/Y to $542K, while Grant revenues fell -22.2% Y/Y to $1.90M.
- Cash, cash equivalents, marketable securities and restricted cash were $153.2M as of March 31, compared to $185.2M as of Dec. 31.