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Earnings Call Summary | Gamida Cell(GMDA.US) Q4 2023 Earnings Conference

Futu News ·  Mar 27 23:25  · Conference Call

The following is a summary of the Gamida Cell Ltd. (GMDA) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • Gamida Cell reported its first year as a revenue-generating company in 2023, with net revenue of $1.1 million in Q4 2023 and a full-year net revenue of $1.8 million.

  • Full-year Cost of sales was $1.5 million, resulting in 18.5% gross margin.

  • R&D expenses decreased to $24.3 million in 2023 from $42.7 million in 2022 due to the company's transition into a commercial stage.

  • The net loss for 2023 was $63 million, a decrease from 2022's loss of $79.4 million.

Business Progress:

  • Gamida Cell initiated strategic restructuring, converting $75 million of existing unsecured convertible senior note into equity with Highbridge Capital Management, which will own 100% of the outstanding equity in the newly reorganized company.

  • This move reduces Gamida Cell's debt by $75 million and trims the annual interest expense by $4.4 million.

  • The company plans to continue the commercialization of OMISIRGE and extend its relationships with transplant center partners to increase access to the drug.

More details: Gamida Cell IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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