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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(納斯達克股票代碼:PRME)是否有能力實現增長計劃?
Simply Wall St ·  05/14 18:53

Just because a business does not make any money, does not mean that the stock will go down. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. 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.

僅僅因爲企業不賺錢,並不意味着股票會下跌。例如,儘管軟件即服務業務Salesforce.com在經常性收入增長的同時多年虧損,但如果你自2005年以來持有股票,你的表現確實會很好。但是,儘管成功是衆所周知的,但投資者不應忽視許多無利可圖的公司,這些公司只會耗盡所有現金然後倒閉。

Given this risk, we thought we'd take a look at whether Prime Medicine (NASDAQ:PRME) shareholders should 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. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

鑑於這種風險,我們想看看Prime Medicine(納斯達克股票代碼:PRME)的股東是否應該擔心其現金消耗。就本文而言,現金消耗是指無利可圖的公司每年花費現金爲其增長提供資金的比率;其自由現金流爲負。第一步是將其現金消耗與現金儲備進行比較,爲我們提供 “現金流”。

When Might Prime Medicine Run Out Of Money?

Prime Medicine 什麼時候會用完錢?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at March 2024, Prime Medicine had cash of US$211m and no debt. In the last year, its cash burn was US$201m. Therefore, from March 2024 it had roughly 13 months of cash runway. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. Depicted below, you can see how its cash holdings have changed over time.

公司的現金流是通過其現金儲備除以現金消耗來計算的。截至2024年3月,Prime Medicine的現金爲2.11億美元,沒有債務。去年,其現金消耗爲2.01億美元。因此,從2024年3月起,它有大約13個月的現金流道。儘管現金流並不太令人擔憂,但明智的持有人會凝視遠方,並考慮如果公司的現金耗盡會發生什麼。如下所示,您可以看到其現金持有量隨着時間的推移而發生了怎樣的變化。

debt-equity-history-analysis
NasdaqGM:PRME Debt to Equity History May 14th 2024
納斯達克通用汽車公司:PRME 債券與股本的比率歷史記錄 2024 年 5 月 14 日

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

隨着時間的推移,Prime Medicinice的現金消耗有何變化?

Whilst it's great to see that Prime Medicine has already begun generating revenue from operations, last year it only produced US$591k, 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. Over the last year its cash burn actually increased by 44%, which suggests that management are increasing investment in future growth, but not too quickly. 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. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.

雖然很高興看到Prime Medicine已經開始從運營中創造收入,但去年它僅產生了59.1萬美元的收入,因此我們認爲它目前沒有產生可觀的收入。因此,出於分析的目的,我們將重點關注現金消耗的追蹤情況。在過去的一年中,其現金消耗實際上增加了44%,這表明管理層正在增加對未來增長的投資,但速度不會太快。但是,如果支出繼續增加,該公司的實際現金流將比上述建議短。但是,顯然,關鍵因素是該公司未來是否會發展其業務。出於這個原因,看看我們的分析師對公司的預測很有意義。

How Easily Can Prime Medicine Raise Cash?

Prime Medicine 籌集現金有多容易?

Given its cash burn trajectory, Prime Medicine 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. Commonly, a business will sell new shares in itself to raise cash and drive 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.

鑑於其現金消耗軌跡,Prime Medicine的股東們不妨考慮儘管現金流穩健,但它能否輕鬆籌集更多現金。一般而言,上市企業可以通過發行股票或承擔債務來籌集新現金。通常,企業會自行出售新股以籌集現金和推動增長。通過觀察公司相對於其市值的現金消耗,我們可以深入了解如果公司需要籌集足夠的現金來彌補下一年的現金消耗,股東會被稀釋多少。

Since it has a market capitalisation of US$742m, Prime Medicine's US$201m in cash burn equates to about 27% of its market value. That's not insignificant, and if the company had to sell enough shares to fund another year's growth at the current share price, you'd likely witness fairly costly dilution.

由於市值爲7.42億美元,Prime Medicine的2.01億美元現金消耗相當於其市值的27%左右。這並非微不足道,如果公司必須以當前股價出售足夠的股票來爲下一年的增長提供資金,那麼您可能會看到相當昂貴的稀釋。

So, Should We Worry About Prime Medicine's Cash Burn?

那麼,我們應該擔心 Prime Medicine 的現金消耗嗎?

On this analysis of Prime Medicine's cash burn, we think its cash runway was reassuring, while its increasing cash burn has us a bit worried. 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. Separately, we looked at different risks affecting the company and spotted 5 warning signs for Prime Medicine (of which 2 make us uncomfortable!) you should know about.

在對Prime Medicine現金消耗的分析中,我們認爲其現金流令人放心,而其現金消耗的增加使我們有些擔憂。從這份簡短報告中提到的因素來看,我們確實認爲其現金消耗有點風險,而且確實使我們對該股有些緊張。另外,我們研究了影響公司的不同風險,發現了Prime Medicine的5個警告信號(其中2個讓我們感到不舒服!)你應該知道。

Of course Prime Medicine 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.

當然,Prime Medicine可能不是最好的買入股票。因此,你可能希望看到這份免費收藏的擁有高股本回報率的公司,或者這份內部人士正在購買的股票清單。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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