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Financial Performance and Clinical Updates: 23andMe, RH, and Aravive - Latest Reports and Future Prospects

  • May 26th, 2023
  • 524 views

In the world of financial markets and healthcare, several companies have recently reported their financial performance and provided updates on their ongoing trials and future prospects.

Genetic testing company 23andMe Holding Co. (Nasdaq: ME) disclosed its fourth-quarter fiscal year 2023 results, reporting a loss of $0.14 per share. This result was slightly better than the consensus estimate, which projected a loss of $0.16 per share. Although the company experienced a loss, it remains focused on its revenue guidance for fiscal year 2024. The projected revenue for this period is expected to be between $255 million and $280 million. However, 23andMe also anticipates a net loss ranging from $340 million to $365 million during the same period.

$ME was trading at $1.96, reflecting a decrease of $0.08 or 3.92% in after-hours.

Another company, RH (NYSE: RH), announced its first-quarter 2023 earnings per share (EPS) at $2.21, surpassing the consensus estimate of $2.09. RH, a luxury furniture retailer, revised its revenue outlook for fiscal 2023 to a range of $3.0 to $3.1 billion. However, it lowered its adjusted operating margin outlook to a range of 14.5% to 15.5%, primarily due to the challenges associated with global expansion efforts. These expansion initiatives are expected to impact operating margin by approximately 150 basis points.

Following this news, $RH was trading at $246.01 in after-hours, with a decrease of $8.62 or 3.39%.

Aravive, Inc. (Nasdaq: ARAV), a biopharmaceutical company, provided an update on its ongoing Phase 2 trial of batiraxcept in clear cell renal cell carcinoma. The company shared that it will present updated results at the upcoming 2023 American Society of Clinical Oncology (ASCO) annual meeting. These results highlight the potential of batiraxcept in combination with cabozantinib therapy, specifically targeting a population with this high unmet medical need.

In after-hours, $ARAV was trading at $1.45, reflecting a decrease of $0.02 or 1.36%.

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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