LUMO - Lumos Pharma announces new buyback program

• Lumos Pharma ( NASDAQ: LUMO ) announced Tuesday that it has received Board's approval to repurchase up to $3M of company's common shares.
• As of June 30, 2022, the biotech firm had approximately $79.5M of cash, cash equivalents, and marketable securities. About 8.4M shares of the company are outstanding as of August 3, 2022.
• “We are confident that our approximately $80 million in cash on hand at the end of the second quarter is sufficient to support operations through our two key data milestones: the interim data readouts for OraGrowtH210 and OraGrowtH212 Trials targeting Pediatric Growth Hormone Deficiency in Q4 2022 and primary outcome readouts for both trials in the second half of 2023,” said Rick Hawkins, Chairman and CEO of Lumos Pharma.
• Earlier: Lumos Pharma GAAP EPS of -$0.94 beats by $0.04, revenue of $0.4M beats by $0.38M

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