Exscientia Business Update for First Quarter 2023
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Wednesday, May 24, 2023
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Recent advancements in the Company’s pipeline, collaborations and operations, as well as financial results for the first quarter 2023, are summarised below.
Key Points:
- Recent advancements in the Company’s pipeline, collaborations and operations, as well as financial results for the first quarter 2023, are summarised below.
- Revenue: Revenue for the first quarter 2023 was $7.1 million, compared to $8.6 million for the three months ended March 31, 2022.
- For the first quarter 2023, G&A expenses increased by $3.8 million compared to the first quarter 2022, primarily associated with an increase in personnel costs associated with growth in headcount.
- Cash inflows: For the first quarter 2023, Exscientia received $0.5 million in cash inflows from its collaborations as compared to $6.3 million during the first quarter 2022.