Why did GANX miss all earnings forecasts in 2024?

Gain Therapeutics (GANX) missed all earnings forecasts in 2024 due to a combination of factors: 1. **Financial Performance**: GANX reported a quarterly loss of $3.77 million for the quarter ended December 31, 2024, with a reported EPS of -11 cents. This loss was higher than the same quarter last year, indicating a decline in profitability. 2. **Revenue Disappointments**: The company's reported revenue for the quarter was zero, which fell short of analysts' expectations. This is a significant indicator of GANX's revenue shortfall, as it was expected to generate some revenue based on the assumptions made. 3. **Cash Burn and Liquidity Concerns**: Despite maintaining a healthy current ratio of 2.99, GANX's cash reserves were only sufficient to sustain operations until the second half of 2025. This limited financial runway raises concerns about the company's ability to fund its operations and growth initiatives without additional capital. 4. **Analyst Ratings and Price Targets**: Despite the challenges, analysts maintained a positive outlook on GANX, with a current average analyst rating of "buy" and a consensus recommendation for the biotechnology & medical research peer group also being "buy". However, these ratings and targets do not necessarily reflect the company's earnings performance but rather its potential and progress in clinical trials. In summary, GANX's missed earnings can be attributed to a combination of poor financial performance, revenue disappointments, and cash burn concerns. These factors, coupled with the company's high operational expenses and limited financial resources, have led to a challenging financial situation for GANX in 2024.