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Is Prime Medicine (NASDAQ:PRME) In A Good Position To Deliver On Growth Plans?

Is Prime Medicine (NASDAQ:PRME) In A Good Position To Deliver On Growth Plans?

Prime Medicine(纳斯达克股票代码:PRME)是否有能力实现增长计划?
Simply Wall St ·  2023/01/24 08:40

There's no doubt that money can be made by owning shares of unprofitable businesses. 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.

毫无疑问,拥有无利可图的企业的股份可以赚钱。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。尽管如此,只有傻瓜才会忽视亏损公司过快耗尽现金的风险。

Given this risk, we thought we'd take a look at whether Prime Medicine (NASDAQ:PRME) shareholders should 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.

鉴于这种风险,我们想看看是否 主要医学 纳斯达克股票代码:PRME)的股东应该担心其现金消耗。在本报告中,我们将考虑该公司的年度自由现金流为负,此后将其称为 “现金消失”。首先,我们将通过将其现金消耗与现金储备进行比较来确定其现金流向。

Check out our latest analysis for Prime Medicine

查看我们对 Prime Medicine 的最新分析

When Might Prime Medicine Run Out Of Money?

Prime Medicine 什么时候会用光钱?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. In September 2022, Prime Medicine had US$147m in cash, and was debt-free. In the last year, its cash burn was US$126m. That means it had a cash runway of around 14 months as of September 2022. That's not too bad, but it's fair to say the end of the cash runway is in sight, unless cash burn reduces drastically. You can see how its cash balance has changed over time in the image below.

现金流失的定义是,如果公司将支出保持在目前的现金消耗率,则需要多长时间才能耗尽资金。2022年9月,Prime Medicine拥有1.47亿美元的现金,并且没有债务。去年,其现金消耗为1.26亿美元。这意味着截至2022年9月,它的现金流持续了大约14个月。这还不错,但可以公平地说,除非现金消耗大幅减少,否则现金流的尽头在眼前。您可以在下图中看到其现金余额如何随着时间的推移而变化。

debt-equity-history-analysis
NasdaqGM:PRME Debt to Equity History January 24th 2023
纳斯达克GM:PRME 债务与股票的比率历史记录 2023 年 1 月 24 日

How Is Prime Medicine's Cash Burn Changing Over Time?

随着时间的推移,Prime Medicine 的现金消耗如何变化?

Because Prime Medicine isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Remarkably, it actually increased its cash burn by 359% in the last year. Given that sharp increase in spending, the company's cash runway will shrink rapidly as it depletes its cash reserves. While the past is always worth studying, it is the future that matters most of all. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.

由于Prime Medicine目前没有创造收入,因此我们认为这是一项处于早期阶段的业务。因此,虽然我们无法通过销售来了解增长,但我们可以看看现金消耗是如何变化的,以了解支出在一段时间内的趋势。值得注意的是,去年它的现金消耗量实际上增加了359%。鉴于支出的急剧增加,随着现金储备的枯竭,该公司的现金流将迅速缩小。虽然过去总是值得研究的,但最重要的是未来。出于这个原因,看看我们分析师对公司的预测很有意义。

How Hard Would It Be For Prime Medicine To Raise More Cash For Growth?

Prime Medicine 为增长筹集更多现金会有多难?

While Prime Medicine does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. 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.

尽管Prime Medicine确实拥有稳健的现金流,但其现金消耗轨迹可能会让一些股东提前考虑公司何时可能需要筹集更多现金。发行新股或承担债务是上市公司为其业务筹集更多资金的最常见方式。许多公司最终发行新股为未来的增长提供资金。通过研究一家公司的现金消耗与其市值的关系,我们可以深入了解如果公司需要筹集足够的现金来弥补下一年的现金消耗,股东会被稀释多少。

Prime Medicine's cash burn of US$126m is about 9.0% of its US$1.4b market capitalisation. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

Prime Medicine的1.26亿美元现金消耗约为其14亿美元市值的9.0%。这是一个很低的比例,因此我们认为该公司将能够筹集更多现金为增长提供资金,稍加稀释,甚至干脆借点钱。

Is Prime Medicine's Cash Burn A Worry?

Prime Medicine 的现金消耗令人担忧吗?

Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Prime Medicine's cash burn relative to its market cap was relatively promising. We don't think its cash burn is particularly problematic, but after considering the range of factors in this article, we do think shareholders should be monitoring how it changes over time. Taking a deeper dive, we've spotted 4 warning signs for Prime Medicine you should be aware of, and 2 of them are a bit unpleasant.

尽管其现金消耗的增加使我们有点紧张,但我们不得不提及的是,我们认为Prime Medicine相对于市值的现金消耗相对乐观。我们认为其现金消耗并不是特别有问题,但在考虑了本文中的一系列因素之后,我们确实认为股东应该关注现金消耗如何随着时间的推移而变化。深入了解一下,我们发现了 Prime Medicine 的 4 个警告 你应该知道,其中有两个有点不愉快。

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, 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 有趣的公司名单,以及这份股票成长股清单(根据分析师的预测)

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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.

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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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