Bally's Sees Sharply Wider Loss In Q4, Expects Revenue Growth
While reporting preliminary results for the fourth quarter and full year 2022 on Monday, casino-entertainment company Bally’s Corp. (BALY) said it expects to report a net loss of $476.80 million, including non-cash goodwill and asset impairment charges of $464.0 million, compared to a net loss of $115.29 million in the year-ago quarter.
The company also sees revenues of $576.7 million for the fourth quarter, compared to $547.67 million last year.
On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.01 per share on revenues of $568.89 million for the quarter. Analysts’ estimates typically exclude special items.
Looking ahead to fiscal 2023, the company projects revenues between $2.5 billion and $2.6 billion for the year. The Street is looking for revenues of $2.46 billion for the year.
Separately, the company announced that CEO Lee Fenton will step down and Robeson Reeves, President – Interactive, will take over as the new CEO, effective March 31, 2023. Additionally, George Papanier, long-time Bally’s executive, will become Bally’s sole President.
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Dye & Durham Q2 Results Miss Estimates
Dye & Durham Ltd. (DND,DND.TO) reported Monday a second-quarter net loss of C$34.8 million, a decrease of C$30.8 million, from the same period in the prior year.
Revenue for the quarter declined 3 percent to C$106.7 million from the same period in the prior year.
On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share on revenues of $115.11 million for the quarter. Analysts’ estimates typically exclude special items.
On Friday, the Board of Directors declared a quarterly dividend of C$0.01875 per share to shareholders of record on February 21, 2023, payable on or about February 28, 2023.
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Gracell: China NMPA Clears IND Application For GC012F
Gracell Biotechnologies Inc. (GRCL) announced the Center for Drug Evaluation of China’s National Medical Products Administration has cleared the company’s Investigational New Drug application for GC012F, an autologous CAR-T therapeutic candidate, for the treatment of relapsed/refractory multiple myeloma. Gracell plans to initiate a Phase 1/2, single-arm, open-label, multi-center trial in China in the third quarter of 2023.
Following the U.S. FDA’s clearance of IND application announced on Feb. 3, Gracell plans to initiate a Phase 1b/2 clinical trial in the U.S. in the second quarter of 2023.
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Ritchie Bros. Prelim Q4 Profit Climbs; Revenue Above View
Ritchie Bros. Auctioneers Inc.(RBA), an asset management and disposition firm, on Monday reported a rise preliminary earnings and revenue for the fourth-quarter and fiscal 2022.
For the final-quarter, the Canadian company posted a preliminary net income of around $42 million – $45 million, compared with last year’s $30.595 million.
The company recorded preliminary revenue of approximately $444 million for December quarter, higher than $359.373 million of previous year quarter.
Six analysts, on average, polled by Thomson-Reuters expect the firm to report revenue of $410.57 million, for the quarter.
For 2022, Ritchie Bros. expects to report a net income of around $317 million – $320 million, compared with $151.868 million of 2021.
The company recorded preliminary revenue of approximately $1.7 billion, higher than $1.416 billion of previous fiscal.
Analysts, on average, polled by Thomson-Reuters expect the firm to post revenue of $1.7 billion, for the year.
Teradata Climbs On Outlook
Teradata Corp. (TDC) shares are gaining more than 8 percent on Monday morning trade after the company expects full-year 2023 revenue to increase 1-4 percent from the prior year, and earnings above the Street view. For the fourth quarter, the company’s outlook came in above estimates.
For the first quarter, the company projects earnings in a range of $0.32 to $0.36 per share and adjusted earnings in a range of $0.60 to $0.64 per share. Analysts are looking for full-year revenue of $1.8 billion.
For the full year, earnings are expected to be in the range of $0.63-$0.79 per share, and adjusted earnings in a range of $1.90-$2.06 per share. Wall Street analysts are projecting $1.89 per share.
Analysts are looking for revenue of $1.8 billion for the full year 2023.
The company said its full-year public cloud ARR will increase in a range of 53-57 percent and total ARR is expected to rise in a range of 6-8 percent.
Currently, shares are at $37.16, up 8.43 percent from the previous close of $34.27 on a volume of 768,100.
Moleculin Biotech Reports Topline Data From European Phase 1 Trial Of Annamycin
Moleculin Biotech, Inc. (MBRX) announced topline results from its MB-105 European Phase 1 clinical trial assessing the safety and efficacy of Annamycin as a single agent for the treatment of adults with relapsed or refractory acute myeloid leukemia. The company said the final MB-105 results align with the overall safety profile of Annamycin and observations made in previously completed and ongoing clinical studies evaluating Annamycin. In the last cohort where all subjects were at least 60 years of age, Annamycin showed an overall response rate of 80%, the company noted.
“We are very pleased with these topline results, both in terms of safety and the initial data suggesting efficacy,” said Moleculin Chairman and CEO Walter Klemp.
Annamycin currently has Fast Track Status and Orphan Drug Designation for the treatment of STS lung metastases and the treatment of relapsed or refractory AML.
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