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
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