Gelesis Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:03 pm EDT
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Gelesis Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 1.11 million compared to USD 8.97 million a year ago. Net loss was USD 7.68 million compared to USD 12.51 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.17 a year ago.
For the six months, revenue was USD 2.86 million compared to USD 16.49 million a year ago. Net loss was USD 12.83 million compared to USD 18.22 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.83 a year ago.
Gelesis Holdings, Inc. is a commercial stage biotherapeutics company built for consumer engagement. The Company focuses on advancing superabsorbent hydrogel therapeutics for chronic gastrointestinal (GI) diseases including excess weight, type two diabetes, Nonalcoholic Fatty Liver Disease (NAFLD)/ Nonalcoholic Steatohepatitis (NASH), functional constipation (FC), and inflammatory bowel disease. Its product, Plenity, is an orally administered capsule. Plenity is available by prescription via a telehealth consultation with a physician trained in weight management support, with free, unlimited follow-up visits as needed. Consumers can visit myplenity.com for online consultations. Its other pipeline candidate includes GS200 for weight loss in prediabetes and type two diabetes. It is also developing GS300 for the treatment of NAFLD and NASH, and GS500 for the treatment of Functional Constipation (FC).