Overview

* Generation Bio ( GBIO ) Q3 net loss improves to $5.5 mln from $15.3 mln last year

* Company's collaboration revenue declines sharply in Q3

* Lease settlement results in $25.5 mln gain on lease termination

Outlook

* Company expects cash reserves to fund operations for foreseeable future

Result Drivers

* LEASE SETTLEMENT - Co recorded a $25.5 mln gain from a lease termination settlement

* INCREASED EXPENSES - R&D and G&A expenses rose due to ongoing investments

* COLLABORATION REVENUE DECLINE - Co's collaboration revenue fell significantly in Q3

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $1.59

Collabor mln

ation

Revenue

Q3 EPS -$0.82

Q3 Net -$5.52

Income mln

Q3 Basic -$0.82

EPS

Q3 $8.30

Operatin mln

g

Expenses

Q3 -$6.71

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Generation Bio Co ( GBIO ) is $13.50, about 61.1% above its November 4 closing price of $5.25

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)