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Gamida Cell Widens Loss in Q1

05/11/2021 04:23

08:12 AM EDT, 05/11/2021 (MT Newswires) -- Gamida Cell (GMDA), a cell therapy company focused on treating blood diseases, reported Tuesday Q1 diluted loss of $ 0.34 per share, compared with a loss of $0.31 per share a year ago. Analysts polled by Capital IQ expected a loss of $0.40 per share.

As of March 31, the company had total cash and cash equivalents of $174.8 million. The company guided for cash used for ongoing operating activities to range from $110 million to $120 million in 2021.

Gamida Cell expects that its current cash and cash equivalents will finance its ongoing operating activities into the second half of 2022, based on its current operational plans and excluding any additional funding and any business development activities.

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