Why did ARTV miss earnings forecasts in Q2-Q4 2024?

Artiva Biotherapeutics Inc. (ARTV) missed earnings forecasts from Q2 to Q4 2024, with an EPS surprise of -20.69 for Q2 and -0.08 for Q4, according to the company's latest report period ending Q4 2024. While the exact reasons might not be publicly disclosed, we can infer several possible factors:

1. **Research and Development Costs**: As a biotechnology company, Artiva likely incurred significant expenses related to the development of its lead product candidate, AlloNK. Clinical trials and product development are costly processes, and the company might have faced unexpected challenges or delays that increased expenses.
2. **Manufacturing and Production Costs**: Artiva has highlighted its proprietary manufacturing process for AlloNK, aiming to produce consistent products at low costs. However, the process might not have been as efficient or cost-effective as anticipated, leading to higher-than-expected manufacturing expenses.
3. **Financial Investments and Strategic Moves**: The company has been active in securing investments and partnerships. For instance, Samsara BioCapital LLC acquired a significant stake in the company, and Artiva strengthened its leadership team. These strategic moves might have involved substantial financial commitments, impacting short-term profitability.
4. **Market and Competitive Factors**: The biotechnology sector is highly competitive, and Artiva faced challenges from other companies developing treatments for similar indications. The market dynamics, including the emergence of new treatments and changing patient needs, might have influenced Artiva's financial performance.

In summary, Artiva Biotherapeutics' missed earnings forecasts in Q2-Q4 2024 can be attributed to a combination of high research and development costs, manufacturing expenses, strategic financial investments, and competitive pressures in the biotech industry.