MYOV - Myovant Sciences shares fall after Q1 earnings miss

Myovant Sciences shares slide ([[MYOV]] -10.8%) after the company reported first-quarter results that missed Wall Street estimates.Quarterly revenue rose 23% to $41.06M, but missed analysts' average estimate by $20.76M.The company's net loss during the quarter widened to $61.7M, or $0.67/share, compared to $32.9M, or $0.37/share, for the same period last year.Selling, general and administrative expenses for the three months ended June 30, 2021, were $61.2M compared to $22.8M for the comparable prior year period.The increase was due to higher expenses related to commercial activities to support the ORGOVYX and MYFEMBREE U.S. launches and higher personnel-related costs, among other things.Myovant, however, said that it remains well-capitalized and highlighted that its cash, cash equivalents, marketable securities, and committed funding was $611.1M as of June 30, 2021, excluding $115M of recently-triggered milestone payments.Previously (July 28): Myovant Sciences EPS misses by $0.36, misses on revenue.

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Myovant Sciences shares fall after Q1 earnings miss