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Is Clover Biopharmaceuticals (HKG:2197) In A Good Position To Invest In Growth?
Is Clover Biopharmaceuticals (HKG:2197) In A Good Position To Invest In Growth?
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. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?
So should Clover Biopharmaceuticals (HKG:2197) shareholders be worried about its cash burn? In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.
View our latest analysis for Clover Biopharmaceuticals
Does Clover Biopharmaceuticals Have A Long Cash Runway?
A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at June 2022, Clover Biopharmaceuticals had cash of CN¥2.3b and no debt. Looking at the last year, the company burnt through CN¥1.1b. So it had a cash runway of about 2.0 years from June 2022. Arguably, that's a prudent and sensible length of runway to have. The image below shows how its cash balance has been changing over the last few years.
SEHK:2197 Debt to Equity History September 23rd 2022How Is Clover Biopharmaceuticals' Cash Burn Changing Over Time?
Because Clover Biopharmaceuticals 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 261% in the last year. With that kind of spending growth its cash runway will shorten quickly, as it simultaneously uses its cash while increasing the burn rate. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.
How Hard Would It Be For Clover Biopharmaceuticals To Raise More Cash For Growth?
Given its cash burn trajectory, Clover Biopharmaceuticals 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. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.
Since it has a market capitalisation of CN¥2.5b, Clover Biopharmaceuticals' CN¥1.1b in cash burn equates to about 46% 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.
Is Clover Biopharmaceuticals' Cash Burn A Worry?
Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Clover Biopharmaceuticals' cash runway was relatively promising. Looking at the factors mentioned in this short report, we do think that its cash burn is a bit risky, and it does make us slightly nervous about the stock. Taking an in-depth view of risks, we've identified 1 warning sign for Clover Biopharmaceuticals that you should be aware of before investing.
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)
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.
毫無疑問,錢可以通過擁有無利可圖的企業股份來賺錢。例如,儘管 Amazon.com 在上市後多年虧損,但如果您自 1999 年以來購買並持有這些股票,那麼您將獲得大筆財富。但是,儘管歷史讚揚那些罕見的成功,但失敗的人往往被遺忘;誰還記得 Pets.com?
所以應該 三葉草生物製藥 (港股代號:2197)股東擔心現金燒毀嗎?在本文中,我們將現金燒傷定義為其年度(負)自由現金流,這是一家公司每年為其增長提供資金的資金量。我們將首先將其現金消耗與現金儲備進行比較,以計算其現金跑道。
查看我們對三葉草生物製藥的最新分析
三葉草生物製藥有很長的現金跑道嗎?
一家公司的現金跑道是通過將其現金囤積除以現金消耗來計算的。截至 2022 年 6 月,三葉草生物製藥現金為 2.3 萬元人民幣,無債務。看看去年,該公司通過人民幣 1.1 億元燒毀。因此,它從 2022 年 6 月開始有大約 2.0 年的現金跑道。可以說,這是一個謹慎而明智的跑道長度。下圖顯示了過去幾年中其現金餘額的變化。
聯交所代碼:2197 債務對股本歷史記錄 2022 年九月二十三日三葉草生物製藥的現金燒傷如何隨著時間的推移而變化?
由於三葉草生物製藥目前尚未產生收入,因此我們認為這是一項早期業務。因此,雖然我們不能期待銷售來了解增長,但我們可以看看現金燃燒如何變化,以了解支出隨著時間的推移趨勢。值得注意的是,它實際上在去年增加了 261% 的現金消耗。隨著這種消費增長,其現金跑道將迅速縮短,因為它同時使用現金,同時增加燃燒率。然而,顯然,關鍵因素是公司是否會發展業務向前發展。出於這個原因,看看我們的分析師對公司的預測是很有意義的。
三葉草生物製藥為增長籌集更多現金會有多難?
鑑於其現金燃燒軌跡,三葉草生物製藥股東可能希望考慮它可以多麼容易地籌集更多現金,儘管其穩固的現金跑道。一般來說,上市企業可以通過發行股份或承擔債務來籌集新現金。許多公司最終發行新股以為未來的增長提供資金。我們可以將公司的現金消耗與其市值進行比較,以了解一家公司必須發行多少新股才能為一年的運營提供資金。
由於它的市值為人民幣 2.5 億元,三葉草生物製藥的人民幣 1.1b 元現金燃燒相當於其市值的 46%。從這個角度來看,該公司似乎花費了大量相對於其市場價值,我們會非常警惕痛苦的資本籌集。
三葉草生物製藥的現金燒傷是否令人擔憂?
儘管它的現金燃燒增加使我們有點緊張,但我們不得不提及,我們認為三葉草生物製藥的現金跑道相對有希望。看看這份簡短的報告中提到的因素,我們確實認為它的現金燃燒有點冒險,這確實使我們對股票感到輕微緊張。我們已經確定了對風險的深入了解 1 三葉草生物製藥的警告標誌 在投資之前,您應該了解的。
當然, 通過尋找其他地方,您可能會發現出色的投資。 因此,請先看看這個 自由 有趣的公司名單,以及股票增長股的這個名單(根據分析師預測)
對這篇文章有反饋嗎?關注內容? 取得聯繫 直接與我們聯繫。 或者,通過電子郵件發送電子郵件給編輯團隊。
這篇文章由簡單牆聖是一般性質. 我們僅使用公正的方法,根據歷史數據和分析師預測提供評論,我們的文章並不打算作為財務建議。 它並不構成購買或出售任何股票的建議,也不會考慮您的目標或您的財務狀況。我們的目標是為您帶來由基本數據驅動的長期集中分析。請注意,我們的分析可能不會考慮最新的價格敏感公司公告或定性材料。簡易華街在提及的任何股票中都沒有倉位。
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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., 是關聯公司。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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