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Liminal BioSciences Past Earnings Performance

Past criteria checks 0/6

Liminal BioSciences has been growing earnings at an average annual rate of 41%, while the Biotechs industry saw earnings growing at 22.7% annually. Revenues have been declining at an average rate of 80.8% per year.

Key information

41.03%

Earnings growth rate

84.26%

EPS growth rate

Biotechs Industry Growth	17.04%
Revenue growth rate	-80.75%
Return on equity	-129.30%
Net Margin	-5,702.85%
Last Earnings Update	30 Jun 2023

Recent past performance updates

Recent updates

Seeking Alpha • Sep 02

Liminal transfers to Nasdaq Capital Market, gets more time to comply with listing rule

Liminal BioSciences (NASDAQ:LMNL) received approval from the Qualifications Department of The Nasdaq Stock Market to transfer its common shares from the Nasdaq Global Market to the Nasdaq Capital Market. The Canadian company said its shares will begin trading on the Nasdaq Capital Market on Sept. 6 and will continue to trade under the symbol "LMNL". Liminal noted that in March 4, it received a notice from Nasdaq for not being in compliance with the exchange's minimum bid price rule of $1.00 per share for continued listing on the exchange. The company had then been granted 180 days to comply with the rule and now with the transfer to the Nasdaq Capital Market, Nasdaq has granted a second period of 180 calendar days or until Feb. 27, 2023, to regain compliance. Liminal said that it may implement a reverse stock split, if necessary, to regain compliance.

Seeking Alpha • Aug 25

Liminal BioSciences ends CDMO agreement for $33M cost savings

Canadian biotech Liminal BioSciences (NASDAQ:LMNL) announced Thursday that the company terminated the long-term legacy CDMO agreement relating to its previously owned plasma-derived therapeutics business in favor of ~$33.1M cash savings. The deal signed in May 2021 included a $9M minimum purchase commitment per year for the remaining contract period. Previously, LMNL had sent an early five-year termination notice to end the agreement in August 2021. The termination agreement ends the deal with immediate effect, and per the terms, LMNL will pay $18M to cover past sums due to the termination date. Additional two payments worth $3.4M each are due in Q1 2023 and Q1 2024. "We are very pleased to have reached this agreement, which results in anticipated cash savings of approximately $33.1 million," Chief Executive Bruce Pritchard remarked. In October, LMNL announced the complete divestment of its plasma-derived therapeutics business for more than $100M.

Seeking Alpha • Jul 21

Liminal BioSciences discontinues fezagepras development

Liminal BioSciences (NASDAQ:LMNL) said Thursday it discontinued development of fezagepras. The decision is based on results from the phase 1a single ascending dose clinical trial, which showed that fezagepras was significantly inferior to sodium phenylbutyrate as a nitrogen scavenger. The clinical trial, which began in May, was designed as a head-to-head comparison with sodium phenylbutyrate to evaluate whether fezagepras was worth developing. The decision to stop fezagepras' development was not based on safety concerns.

Revenue & Expenses Breakdown

How Liminal BioSciences makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqCM:LMNL Revenue, expenses and earnings (CAD Millions)
Date	Revenue	Earnings	G+A Expenses
30 Jun 23	0	-28	17
31 Mar 23	1	-26	17
31 Dec 22	0	-29	18
30 Sep 22	0	-31	19
30 Jun 22	1	-36	24
31 Mar 22	0	-42	28
31 Dec 21	1	-44	32
30 Sep 21	1	-48	34
30 Jun 21	1	-49	32
31 Mar 21	1	-35	30
31 Dec 20	1	-48	33
30 Sep 20	1	-75	35
30 Jun 20	2	-94	38
31 Mar 20	3	-232	49
31 Dec 19	1	-150	38
30 Sep 19	-8	-299	44
30 Jun 19	3	-298	40
31 Mar 19	23	-194	29
31 Dec 18	25	-197	29
30 Sep 18	43	-131	50
30 Jun 18	55	-118	52
31 Mar 18	39	-115	53
31 Dec 17	22	-112	50
30 Sep 17	37	-109	32
30 Jun 17	16	-119	31
31 Mar 17	16	-112	28
31 Dec 16	16	-101	26
30 Sep 16	26	-74	22
30 Jun 16	28	-58	19
31 Mar 16	28	-48	18
31 Dec 15	25	-51	17
30 Sep 15	21	-31	15
30 Jun 15	18	-41	14
31 Mar 15	19	-5	13
31 Dec 14	23	6	12
30 Sep 14	18	-10	12
30 Jun 14	21	4	11
31 Mar 14	22	-23	9
31 Dec 13	21	-16	8
30 Sep 13	24	-8	6
30 Jun 13	26	-1	6
31 Mar 13	27	3	6
31 Dec 12	23	0	6
30 Sep 12	23	3	5

Quality Earnings: LMNL is currently unprofitable.

Growing Profit Margin: LMNL is currently unprofitable.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: LMNL is unprofitable, but has reduced losses over the past 5 years at a rate of 41% per year.

Accelerating Growth: Unable to compare LMNL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: LMNL is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (-31.3%).

Return on Equity

High ROE: LMNL has a negative Return on Equity (-129.3%), as it is currently unprofitable.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2023/09/27 07:25
End of Day Share Price	2023/09/25 00:00
Earnings	2023/06/30
Annual Earnings	2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Liminal BioSciences Inc. is covered by 12 analysts. of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Doug Cooper	Beacon Securities Limited
Antonia Borovina	Bloom Burton & Co.
Dewey Steadman	Canaccord Genuity