Rubius Therapeutics, Inc.(RUBY) announced its consolidated financial results for the year ended December 31, 2022, revealing a net loss of $179.7 million and no revenue. The company's balance sheet showed total assets of $23.1 million, with current assets amounting to $20.2 million. The financial report highlights Rubius Therapeutics' operating expenses, including research and development costs of $96.4 million and general and administrative expenses of $30.8 million.**
Rubius Therapeutics, Inc., a biopharmaceutical company focused on the development of innovative cellular therapies, reported a net loss of $179.7 million for the year ended December 31, 2022. This loss reflects the company's ongoing investment in research and development, as well as general operating expenses.
During the fiscal year 2022, Rubius Therapeutics did not generate any revenue. The company's financial statements show that there were no sales or other revenue streams reported for the period. Rubius Therapeutics continues to focus on advancing its pipeline of cellular therapies and is working towards potential commercialization in the future.
Rubius Therapeutics' balance sheet reflects total assets of $23.1 million, with current assets amounting to $20.2 million. The current assets include cash and cash equivalents of $14.9 million, assets held for sale of $4.1 million, and prepaid expenses and other current assets of $1.3 million. The company also holds an operating lease right-of-use asset worth $2.7 million and property, plant, and equipment net of $0.1 million. On the liabilities side, Rubius Therapeutics reported current liabilities of $7.9 million, including accounts payable of $1.2 million, accrued expenses and other current liabilities of $5.6 million, and operating lease liabilities of $1.1 million. The company has no long-term debt or other long-term liabilities.
Rubius Therapeutics incurred significant operating expenses in 2022. Research and development expenses amounted to $96.4 million, reflecting the company's commitment to advancing its pipeline of cellular therapies. General and administrative expenses totaled $30.8 million, which includes various administrative costs associated with running the company's operations. Additionally, the company recorded restructuring and impairment charges of $51.2 million during the year.
Rubius Therapeutics continues to focus on the development of its innovative cellular therapies and remains dedicated to advancing its pipeline. The company aims to bring novel treatments to patients in need and is committed to achieving its long-term goals. While the company did not generate revenue in 2022, Rubius Therapeutics remains optimistic about its potential to create value in the future.