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We're Hopeful That Allogene Therapeutics (NASDAQ:ALLO) Will Use Its Cash Wisely
We're Hopeful That Allogene Therapeutics (NASDAQ:ALLO) Will Use Its Cash Wisely
Just because a business does not make any money, does not mean that the stock will go down. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.
So should Allogene Therapeutics (NASDAQ:ALLO) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.
Check out our latest analysis for Allogene Therapeutics
Does Allogene Therapeutics Have A Long Cash Runway?
You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. When Allogene Therapeutics last reported its balance sheet in September 2022, it had zero debt and cash worth US$552m. In the last year, its cash burn was US$208m. Therefore, from September 2022 it had 2.7 years of cash runway. That's decent, giving the company a couple years to develop its business. Depicted below, you can see how its cash holdings have changed over time.
NasdaqGS:ALLO Debt to Equity History November 28th 2022How Is Allogene Therapeutics' Cash Burn Changing Over Time?
Whilst it's great to see that Allogene Therapeutics has already begun generating revenue from operations, last year it only produced US$247k, so we don't think it is generating significant revenue, at this point. Therefore, for the purposes of this analysis we'll focus on how the cash burn is tracking. With the cash burn rate up 11% in the last year, it seems that the company is ratcheting up investment in the business over time. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. Clearly, however, the crucial factor is whether the company will grow its business going forward. So you might want to take a peek at how much the company is expected to grow in the next few years.
How Hard Would It Be For Allogene Therapeutics To Raise More Cash For Growth?
Given its cash burn trajectory, Allogene Therapeutics shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.
Since it has a market capitalisation of US$1.6b, Allogene Therapeutics' US$208m in cash burn equates to about 13% of its market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution.
How Risky Is Allogene Therapeutics' Cash Burn Situation?
As you can probably tell by now, we're not too worried about Allogene Therapeutics' cash burn. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. While its increasing cash burn wasn't great, the other factors mentioned in this article more than make up for weakness on that measure. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. On another note, Allogene Therapeutics has 2 warning signs (and 1 which is significant) we think you should know about.
Of course Allogene Therapeutics may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
仅仅因为一家企业没有赚到钱,并不意味着股票会下跌。例如,虽然亚马逊上市后多年亏损,但如果你从1999年开始买入并持有股票,你就会发大财。尽管如此,只有傻瓜才会忽视这样一个风险,即一家亏损的公司太快地烧掉了现金。
所以也应该这样同种异体基因治疗(纳斯达克:ALLO)股东担心其烧钱?在这份报告中,我们将考虑该公司的年度自由现金流为负,此后将其称为“现金消耗”。首先,我们将通过比较其现金消耗和现金储备来确定其现金跑道。
查看我们对同种异体基因治疗的最新分析
同种异体基因治疗有很长的现金跑道吗?
你可以通过将公司拥有的现金数量除以它花掉这些现金的速度来计算公司的现金跑道。当allgene Treateutics在2022年9月上一次报告其资产负债表时,它没有债务和现金,价值5.52亿美元。去年,它的现金消耗为2.08亿美元。因此,从2022年9月开始,它有了2.7年的现金跑道。这很不错,给了公司几年的时间来发展业务。如下所示,你可以看到它的现金持有量是如何随着时间的推移而变化的。
NasdaqGS:Allo债转股历史2022年11月28日同种异体基因治疗公司的现金消耗随着时间的推移是如何变化的?
虽然很高兴看到异种基因治疗公司已经开始从手术中产生收入,但去年它只产生了247,000美元,所以我们认为目前它没有产生显著的收入。因此,出于本分析的目的,我们将重点关注现金消耗是如何跟踪的。随着去年现金消耗率上升11%,该公司似乎正在逐步增加对这项业务的投资。然而,如果支出继续增加,该公司真正的现金跑道将因此比上面建议的要短。然而,显然,关键因素是该公司是否会在未来实现业务增长。因此,你可能想看看该公司在未来几年的预期增长速度。
同种异体基因治疗公司筹集更多现金以实现增长的难度有多大?
考虑到它的现金消耗轨迹,异种基因治疗公司的股东们可能希望考虑一下,尽管它有坚实的现金跑道,但它筹集更多现金的难度有多大。一般来说,上市企业可以通过发行股票或承担债务来筹集新的现金。许多公司最终发行新股,为未来的增长提供资金。通过观察一家公司相对于其市值的现金消耗,我们可以洞察到,如果公司需要筹集足够的现金来支付另一年的现金消耗,股东将被稀释多少。
由于其市值为16亿美元,allgene Treeutics的2.08亿美元现金消耗相当于其市值的约13%。因此,我们冒险认为,该公司可以毫不费力地筹集更多现金来实现增长,尽管代价是一些股权稀释。
同种异体基因治疗公司的现金烧伤情况有多大风险?
正如你现在可能已经知道的那样,我们并不太担心异基因治疗公司的烧钱。特别是,我们认为它的现金跑道脱颖而出,证明该公司很好地控制了支出。虽然它不断增加的现金消耗并不是很好,但本文提到的其他因素足以弥补这一指标的疲软。考虑到本文讨论的所有因素,我们并不过分担心公司的现金消耗,尽管我们确实认为股东应该密切关注公司的发展。另一方面,同种异体基因治疗公司2个警告标志(还有一点很重要)我们认为你应该知道。
当然了同种异体基因治疗公司可能不是最值得购买的股票。所以你可能想看看这个免费拥有高股本回报率的公司的集合,或内部人士正在购买的这份股票清单。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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