Alpha Tau Medical posts miss on earnings, revenue below estimates
Medical device maker Alpha Tau Medical reported a quarterly loss per share of $0.12, missing market forecasts, while revenue declined year-over-year.
Alpha Tau Medical on Tuesday reported a net loss of $0.12 per share for the latest quarter, falling short of analyst expectations of $0.00 per share. Revenue totaled $1.2 million, down from $1.5 million in the same period a year earlier.
The company, which develops targeted alpha radiation cancer therapies, attributed the shortfall to lower-than-anticipated product sales and delays in commercial launches. Alpha Tau has not provided revised guidance for the year.
Analysts had expected the company to break even on earnings before interest, taxes, depreciation and amortization (EBITDA), but the firm posted a negative EBITDA of $2.1 million. Cash and cash equivalents stood at $38.7 million as of the end of the quarter, down from $45.2 million at the close of the prior quarter.
Shares of Alpha Tau Medical, listed on the Nasdaq under the ticker DRTS, were down 5% in after-hours trading following the release.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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