EXAI - Exscientia stock -14% after posting Q2 loss shares on track for four-day losing streak
- U.S.-listed shares of small-cap pharmatech company Exscientia ( NASDAQ: EXAI ) fell 14.1% to $9.87 in Thursday morning trading after the company reported Q2 results.
- EXAI after hours on Wednesday posted Q2 non-GAAP EPS of -£0.29 which missed estimates by £0.11 . It posted revenue of $8.7M compared to $0.4M a year ago.
- It is worth noting that EXAI stock had been on a downward trend already. It had fallen 6.6% yesterday ahead of the earnings report.
- If today's losses hold, it would be four straight sessions in the red for the stock.
- Oxford, England-based EXAI provides artificial intelligence solutions and precision data generation services for drug discovery. Its pipeline consists of several drugs being developed in collaboration with companies such as Bristol-Myers Squibb ( BMY ) and Sanofi ( SNY ).
- Its quarterly revenue grew primarily due to delivery on an increased number of projects across its second collaboration with BMY, EXAI said in the earnings report .
- Cash, cash equivalents and bank deposits as of June 30 were $732M vs $683.7M as of Dec. 31, 2021.
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Exscientia stock -14% after posting Q2 loss, shares on track for four-day losing streak