G1 Therapeutics reports Q2 EPS (10c), consensus (16c)

Before the open on August 8, G1 reported Q2 revenue $16.5M, consensus $16.36M. As of June 30, cash, cash equivalents and marketable securities totaled $60.7M, compared to $82.2M as of December 31, 2023. The company believes that its current cash runway is sufficient to fund its operations into Q3 of 2025. “We are excited about what will be possible by the combined Pharmacosmos + G1 team as we meet the needs of more cancer patients. This transaction delivers a significant premium to our shareholders and better and broader access to COSELA for the cancer patients we seek to treat,” said Jack Bailey, CEO. “In the meantime, as we move toward closing, our focus remains on accelerating and expanding the growth of the COSELA business in extensive stage small cell lung cancer; the double-digit quarter-over-quarter growth we experienced in vial volume and net revenue represents continued progress in that regard. We also reaffirmed our 2024 net sales guidance of between $60M-$70M, which is indicative of our continued confidence in the business.” Note that on August 7, G1 announced a definitive merger agreement to be acquired by Pharmacosmos for $7.15 per share.