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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.
僅僅因為一家企業沒有賺到錢,並不意味着股票會下跌。例如,雖然亞馬遜上市後多年虧損,但如果你從1999年開始買入並持有股票,你就會發大財。儘管如此,只有傻瓜才會忽視這樣一個風險,即一家虧損的公司太快地燒掉了現金。
所以也應該這樣同種異體基因治療(納斯達克:ALLO)股東擔心其燒錢?在這份報告中,我們將考慮該公司的年度自由現金流為負,此後將其稱為“現金消耗”。首先,我們將通過比較其現金消耗和現金儲備來確定其現金跑道。
查看我們對同種異體基因治療的最新分析
同種異體基因治療有很長的現金跑道嗎?
你可以通過將公司擁有的現金數量除以它花掉這些現金的速度來計算公司的現金跑道。當allgene Treateutics在2022年9月上一次報告其資產負債表時,它沒有債務和現金,價值5.52億美元。去年,它的現金消耗為2.08億美元。因此,從2022年9月開始,它有了2.7年的現金跑道。這很不錯,給了公司幾年的時間來發展業務。如下所示,你可以看到它的現金持有量是如何隨着時間的推移而變化的。
NasdaqGS:Allo債轉股歷史2022年11月28日同種異體基因治療公司的現金消耗隨着時間的推移是如何變化的?
雖然很高興看到異種基因治療公司已經開始從手術中產生收入,但去年它只產生了247,000美元,所以我們認為目前它沒有產生顯著的收入。因此,出於本分析的目的,我們將重點關注現金消耗是如何跟蹤的。隨着去年現金消耗率上升11%,該公司似乎正在逐步增加對這項業務的投資。然而,如果支出繼續增加,該公司真正的現金跑道將因此比上面建議的要短。然而,顯然,關鍵因素是該公司是否會在未來實現業務增長。因此,你可能想看看該公司在未來幾年的預期增長速度。
同種異體基因治療公司籌集更多現金以實現增長的難度有多大?
考慮到它的現金消耗軌跡,異種基因治療公司的股東們可能希望考慮一下,儘管它有堅實的現金跑道,但它籌集更多現金的難度有多大。一般來説,上市企業可以通過發行股票或承擔債務來籌集新的現金。許多公司最終發行新股,為未來的增長提供資金。通過觀察一家公司相對於其市值的現金消耗,我們可以洞察到,如果公司需要籌集足夠的現金來支付另一年的現金消耗,股東將被稀釋多少。
由於其市值為16億美元,allgene Treeutics的2.08億美元現金消耗相當於其市值的約13%。因此,我們冒險認為,該公司可以毫不費力地籌集更多現金來實現增長,儘管代價是一些股權稀釋。
同種異體基因治療公司的現金燒傷情況有多大風險?
正如你現在可能已經知道的那樣,我們並不太擔心異基因治療公司的燒錢。特別是,我們認為它的現金跑道脱穎而出,證明該公司很好地控制了支出。雖然它不斷增加的現金消耗並不是很好,但本文提到的其他因素足以彌補這一指標的疲軟。考慮到本文討論的所有因素,我們並不過分擔心公司的現金消耗,儘管我們確實認為股東應該密切關注公司的發展。另一方面,同種異體基因治療公司2個警告標誌(還有一點很重要)我們認為你應該知道。
當然了同種異體基因治療公司可能不是最值得購買的股票。所以你可能想看看這個免費擁有高股本回報率的公司的集合,或內部人士正在購買的這份股票清單。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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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。
風險及免責聲明
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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