CNST - Constellation Pharma falls after Q4 earnings failed to meet consensus

Constellation Pharmaceuticals ([[CNST]] -26.0%) has dropped more than a quarter in value today after announcing Q4 2020 earnings results where it failed to meet the consensus estimates for the quarter.Compared to a ~42.7% YoY growth in 2019, the net loss for 2020 has jumped ~47.7% YoY, the sharpest increase in the company history.For the quarter, Constellation’s net loss has expanded by ~54.4% YoY compared to a ~21.4% YoY increase in the prior-year quarter.The increase in net loss was driven by ~47.2% and ~56.2% YoY rise in the R&D expenses and G&A expenses, compared to ~11.8% and ~36.6% YoY growth in Q4 2019, respectively.The cash and equivalents have risen ~8.9% YoY to reach ~$421.4M and are expected to be sufficient to fund operations until mid-2023.In mid-2021, Constellation anticipates the data from the MANIFEST trial for pelabresib which is undergoing late-stage studies in patients with myelofibrosis.

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Constellation Pharma falls after Q4 earnings failed to meet consensus