Executive Summary
Benitec Biopharma reported a revenue-less QQ4 2024 quarter (calendar year 2024, quarter ended 2024-06-30) with a net loss of $4.72 million and an EBITDA of $-5.52 million. Gross profit stood at negative $0.091 million as there was effectively no product revenue; R&D expenses were $3.512 million and G&A/S&M combined were roughly $2.036 million, driving an operating loss of $5.548 million. Despite the operating burn, the company maintains a strong liquidity position, ending the period with approximately $50.93 million in cash and equivalents after a financing-driven inflow of roughly $40.07 million and a large common stock issuance of about $43.0 million. Net debt remains a substantial net-cash position (~$50.58 million), underscoring balance-sheet flexibility to fund pipeline advancement.
The quarterly results reflect Benitec’s development-stage status and heavy investment in its genetic medicine platform, including BB301 (AAV-based gene therapy for oculopharyngeal muscular dystrophy) and BB103 (HBV therapy). No revenue was recognized in QQ4 2024, which is typical for a biotech at this stage without approved products. The cash runway supports continued preclinical and early-stage clinical work, but the company faces ongoing dilution risk and dependence on timely pipeline progress or additional funding to reach meaningful milestones. Investors should monitor execution on BB301/BB103 timelines, potential partnering discussions, and any new financing activity that may impact share count and valuation.
Key Performance Indicators
QoQ: -33.88% | YoY:-21.93%
QoQ: -10.31% | YoY:-1.27%
Key Insights
Revenue: not reported in QQ4 2024 (N/A). Gross Profit: -$0.091 million; YoY: -18.18%; QoQ: -8.33%. Operating Income: -$5.548 million; YoY: -21.93%; QoQ: -33.88%. Net Income: -$4.72 million; YoY: -1.27%; QoQ: -10.31%. EPS: -$0.58; YoY: +59.01%; QoQ: +29.27%. EBITDA: -$5.522 million. D&A: $0.091 million. Cash Flow: CFO -$3.293 million; Net cash from financing activities: $40.071 million; Free Cash Flow: -$3.293 million. Ending cash: $50.929 million; Beginning cash: $14.156 million; Net change ...
Financial Highlights
Revenue: not reported in QQ4 2024 (N/A). Gross Profit: -$0.091 million; YoY: -18.18%; QoQ: -8.33%. Operating Income: -$5.548 million; YoY: -21.93%; QoQ: -33.88%. Net Income: -$4.72 million; YoY: -1.27%; QoQ: -10.31%. EPS: -$0.58; YoY: +59.01%; QoQ: +29.27%. EBITDA: -$5.522 million. D&A: $0.091 million. Cash Flow: CFO -$3.293 million; Net cash from financing activities: $40.071 million; Free Cash Flow: -$3.293 million. Ending cash: $50.929 million; Beginning cash: $14.156 million; Net change in cash: +$36.773 million.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Gross Profit |
-91.00K |
-18.18% |
-8.33% |
| Operating Income |
-5.55M |
-21.93% |
-33.88% |
| Net Income |
-4.72M |
-1.27% |
-10.31% |
| EPS |
-0.58 |
59.01% |
29.27% |
Key Financial Ratios
operatingCashFlowPerShare
$-0.33
freeCashFlowPerShare
$-0.33
Management Commentary
No earnings call transcript available for QQ4 2024 in the provided data. Consequently, there are no management quotes or thematic highlights from an earnings call to summarize. Investors should reference the filed materials (10-Q/press release) for any direct management commentary on pipeline timelines or strategic updates.
Forward Guidance
There was no explicit forward guidance disclosed for QQ4 2024. Given Benitec’s development-stage profile, forward-looking expectations are driven by pipeline progress rather than near-term revenue milestones. Industry context suggests continued heavy R&D investment and potential reliance on equity financings or licensing deals to fund programs. Key watchpoints include: (1) clinical/preclinical milestones for BB301 and BB103, (2) any strategic partnerships or licensing agreements, and (3) financing activity that could impact share count and dilution. The achievability of future milestones will depend on trial design progress, regulatory interactions, and partner negotiations. Investors should monitor updates on BB301/BB103 timelines, any interim data, and new financing announcements that affect liquidity and dilution risk.