Turning Point Therapeutics Inc. (TPTX) Tops Q2 EPS by 7c

Turning Point Therapeutics Inc. (NASDAQ: TPTX) reported Q2 EPS of ($1.14), $0.07 better than the analyst estimate of ($1.21). Revenue for the quarter came in at $5.2 thousand, versus $0 reported last year.

Cash, cash equivalents and marketable securities at June 30, 2021 totaled approximately $1.1 billion. Net cash used during the first half of 2021 was $44.7 million. Turning Point projects its cash position funds current operations into 2024.

“Our team made strong progress advancing our 4 clinical drug candidates in 5 ongoing clinical trials as well as our research programs with the first 2 development candidates targeted in the second half of 2022,” said Athena Countouriotis, M.D., president and CEO. “In our clinical programs, we are pleased with ongoing enrollment in our pivotal TRIDENT-1 study of repotrectinib. In addition, we recently initiated the Phase 1 expansion cohorts in our SHIELD-1 study of TPX-0022 and just last week were granted Fast Track designation for TPX-0022 in certain gastric cancer indications. We look forward to multiple data updates from our clinical studies at medical conferences during the fourth quarter.”

For earnings history and earnings-related data on Turning Point Therapeutics Inc. (TPTX) click here.

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