Digital healthcare firm SmileDirectClub Inc. (NASDAQ: SDC) reported a narrower net loss for the first quarter of 2021 amid modest revenue growth. While the bottom-line missed Wall Sreet’s prediction, revenues beat.
The Nashville, Tennessee-based teledentistry company reported a net loss of $28.9 million or $0.25 per share for the March quarter, which marked an improvement from the year-ago period when it incurred a loss of $29.3 million or $0.28 per share. Analysts were looking for a narrower loss for the latest quarter.
At $199.5 million, first-quarter revenues were up 1% from the comparable period of 2020 and slightly above experts’ projection.
The company’s shares have lost about 31% since the beginning of the year. They dropped during Monday’s extended trading after ending the regular session lower.
The US primary markets seem to be having a record-breaking start to the year, with over $171 billion raised in the first half of 2021 compared to $168 billion for
The pharmaceutical industry has been witnessing hectic activity for some time, with most drug makers either channelizing their resources for vaccine development or engaging in COVID care programs. Biotechnology giant
Biotechnology company Monte Rosa Therapeutics is slated to go public this week. In a pandemic-ridden world, this industry is expanding at a healthy pace. The global biotechnology market is estimated