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We Think LianBio (NASDAQ:LIAN) Can Afford To Drive Business Growth
We Think LianBio (NASDAQ:LIAN) Can Afford To Drive Business Growth
Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. 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. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.
So should LianBio (NASDAQ:LIAN) shareholders be worried about its cash burn? For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.
See our latest analysis for LianBio
When Might LianBio Run Out Of Money?
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. In September 2022, LianBio had US$312m in cash, and was debt-free. Looking at the last year, the company burnt through US$101m. So it had a cash runway of about 3.1 years from September 2022. There's no doubt that this is a reassuringly long runway. The image below shows how its cash balance has been changing over the last few years.
How Is LianBio's Cash Burn Changing Over Time?
LianBio didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Even though it doesn't get us excited, the 45% reduction in cash burn year on year does suggest the company can continue operating for quite some time. While the past is always worth studying, it is the future that matters most of all. 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 LianBio To Raise More Cash For Growth?
Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for LianBio to raise more cash in the future. 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 comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).
Since it has a market capitalisation of US$252m, LianBio's US$101m in cash burn equates to about 40% of its market value. From this perspective, it seems that the company spent a huge amount relative to its market value, and we'd be very wary of a painful capital raising.
How Risky Is LianBio's Cash Burn Situation?
On this analysis of LianBio's cash burn, we think its cash runway was reassuring, while its cash burn relative to its market cap has us a bit worried. Based on the factors mentioned in this article, we think its cash burn situation warrants some attention from shareholders, but we don't think they should be worried. On another note, LianBio has 3 warning signs (and 2 which can't be ignored) we think you should know about.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, and this list of stocks growth stocks (according to analyst forecasts)
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.
Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. 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. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.
即使企业亏损,如果股东以合适的价格收购一家好的企业,他们也有可能赚钱。例如,尽管Amazon.com在上市后多年亏损,但如果您自1999年以来一直买入并持有股票,您本来可以发大财。但是,尽管成功是众所周知的,但投资者不应忽视许多无利可图的公司,这些公司干脆耗尽了所有现金然后倒闭。
So should LianBio (NASDAQ:LIAN) shareholders be worried about its cash burn? For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.
所以应该 联安生物 纳斯达克股票代码:LIAN)的股东担心其现金消耗吗?就本文而言,现金消耗是指无利可图的公司花费现金为其增长提供资金的年利率;其自由现金流为负。首先,我们将将其现金消耗与现金储备进行比较,以计算其现金流向。
See our latest analysis for LianBio
查看我们对LianBio的最新分析
When Might LianBio Run Out Of Money?
LianBio 什么时候会用光钱?
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. In September 2022, LianBio had US$312m in cash, and was debt-free. Looking at the last year, the company burnt through US$101m. So it had a cash runway of about 3.1 years from September 2022. There's no doubt that this is a reassuringly long runway. The image below shows how its cash balance has been changing over the last few years.
你可以通过将公司拥有的现金额除以其使用现金的利率来计算公司的现金流向。2022年9月,联拓生物拥有3.12亿美元的现金,并且没有债务。纵观去年,该公司耗尽了1.01亿美元。因此,从2022年9月起,它的现金流持续了大约3.1年。毫无疑问,这是一条长得令人放心的跑道。下图显示了其现金余额在过去几年中的变化。
How Is LianBio's Cash Burn Changing Over Time?
随着时间的推移,LianBio的现金消耗如何变化?
LianBio didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Even though it doesn't get us excited, the 45% reduction in cash burn year on year does suggest the company can continue operating for quite some time. While the past is always worth studying, it is the future that matters most of all. So you might want to take a peek at how much the company is expected to grow in the next few years.
LianBio去年没有录得任何收入,这表明它是一家仍在发展业务的早期公司。尽管如此,我们仍然可以研究其现金消耗轨迹,这是我们评估其现金消耗状况的一部分。尽管这并没有让我们感到兴奋,但现金消耗同比减少了45%,这确实表明该公司可以在相当长的一段时间内继续运营。虽然过去总是值得研究的,但最重要的是未来。因此,你可能想看看该公司在未来几年预计将增长多少。
How Hard Would It Be For LianBio To Raise More Cash For Growth?
LianBio为增长筹集更多现金会有多难?
Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for LianBio to raise more cash in the future. 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 comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).
尽管LianBio最近减少了现金消耗,但股东们仍应考虑将来筹集更多现金有多容易。一般而言,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。通过将一家公司的年度现金消耗与其总市值进行比较,我们可以大致估计它必须发行多少股才能将公司再经营一年(以相同的消耗率)。
Since it has a market capitalisation of US$252m, LianBio's US$101m in cash burn equates to about 40% of its market value. From this perspective, it seems that the company spent a huge amount relative to its market value, and we'd be very wary of a painful capital raising.
由于LianBio的市值为2.52亿美元,因此其1.01亿美元的现金消耗相当于其市值的40%左右。从这个角度来看,相对于其市值,该公司似乎花费了巨额资金,我们对痛苦的融资非常警惕。
How Risky Is LianBio's Cash Burn Situation?
LianBio的现金消耗情况有多危险?
On this analysis of LianBio's cash burn, we think its cash runway was reassuring, while its cash burn relative to its market cap has us a bit worried. Based on the factors mentioned in this article, we think its cash burn situation warrants some attention from shareholders, but we don't think they should be worried. On another note, LianBio has 3 warning signs (and 2 which can't be ignored) we think you should know about.
通过对LianBio现金消耗的分析,我们认为其现金流令人放心,而其相对于市值的现金消耗让我们有些担忧。基于本文提到的因素,我们认为其现金消耗情况值得股东关注,但我们认为他们不应该担心。另一方面,LianBio 有 3 个警告标志 (还有两个不容忽视的)我们认为你应该知道。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, and this list of stocks growth stocks (according to analyst forecasts)
当然, 你可能会在其他地方找到一笔不错的投资。 所以来看看这个 免费的 内部人士正在买入的公司名单,以及这份成长型股票清单(根据分析师的预测)
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.
对这篇文章有反馈吗?对内容感到担忧? 取得联系 直接和我们联系。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St 的这篇文章本质上是一般性的。 我们仅使用不偏不倚的方法根据历史数据和分析师预测提供评论,我们的文章并非旨在提供财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能未将最新的价格敏感型公司公告或定性材料考虑在内。简而言之,华尔街对上述任何股票都没有头寸。
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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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