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Intra-Cellular Therapies (NASDAQ:ITCI) Is In A Strong Position To Grow Its Business

Intra-Cellular Therapies (NASDAQ:ITCI) Is In A Strong Position To Grow Its Business

intra-cellular therapies(纳斯达克:ITCI)在业务增长方面处于强势地位
Simply Wall St ·  08/26 09:08

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, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

哪怕一家业务亏损的公司,只要你能以合适的价格买入优质的企业,依然能获得投资回报。例如,在成功开发新疗法或发现矿物的生物科技或矿业勘探企业经常亏损数年。即便如此,无利可图的公司仍然具备风险,因为它们可能会烧光所有资金并面临窘迫。

So should Intra-Cellular Therapies (NASDAQ:ITCI) shareholders be worried about its cash burn? For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

那么纳斯达克纽约股票交易所(纳斯达克: ITCI)的股东们应该担心其现金燃烧吗?本文中,我们将现金燃烧定义为公司每年用于资金成长的现金金额(也称为负自由现金流)。首先,我们将通过将公司的现金燃烧与其现金储备进行比较来确定其现金储备。

How Long Is Intra-Cellular Therapies' Cash Runway?

纳斯达克纽约股票交易所纳斯达克: ITCI的现金储备可以维持多长时间?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at June 2024, Intra-Cellular Therapies had cash of US$1.0b and no debt. Looking at the last year, the company burnt through US$61m. That means it had a cash runway of very many years as of June 2024. Notably, however, analysts think that Intra-Cellular Therapies will break even (at a free cash flow level) before then. If that happens, then the length of its cash runway, today, would become a moot point. You can see how its cash balance has changed over time in the image below.

一家公司的现金储备可以通过将其现金储备除以其现金燃烧来计算。截至2024年6月,Intra-Cellular Therapies拥有10亿美元的现金和没有债务。回顾过去一年,公司烧掉了6100万美元。这意味着截至2024年6月,它的现金储备可以维持很多年。然而,值得注意的是,分析师认为,在那之前,Intra-Cellular Therapies将达到盈亏平衡(在自由现金流水平)。如果发生这种情况,那么今天它的现金储备的长度将变得无关紧要。您可以在下面的图像中看到其现金余额的变化。

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NasdaqGS:ITCI Debt to Equity History August 26th 2024
纳斯达克GS:ITCI负债与股东权益历史数据2024年8月26日

How Well Is Intra-Cellular Therapies Growing?

Intra-Cellular Therapies的发展情况如何?令人高兴的是,Intra-Cellular Therapies在现金燃烧方面走在了正确的方向上,去年的降幅达到了68%。而其令人振奋的营业收入增长54%,也对改善起到了积极作用。考虑到这些因素,我们对其发展轨迹感到相当印象深刻。虽然过去总是值得研究的,但最重要的是未来。因此,您可能想要瞥一眼公司在未来几年中的预计增长量。

Happily, Intra-Cellular Therapies is travelling in the right direction when it comes to its cash burn, which is down 68% over the last year. And there's no doubt that the inspiriting revenue growth of 54% assisted in that improvement. Considering these factors, we're fairly impressed by its growth trajectory. 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.

Intra-Cellular Therapies在现金燃烧方面正朝着正确的方向发展,过去一年下降了68%。毫无疑问,54%的增长助推了其令人振奋的营业收入增长。考虑到这些因素,我们对其增长轨迹相当印象深刻。尽管过去总是值得研究的,但最重要的是未来。因此,您可能想要瞥一眼公司在接下来的几年中预计的增长情况。

How Hard Would It Be For Intra-Cellular Therapies To Raise More Cash For Growth?

Intra-Cellular Therapies要筹集更多资金来支持增长会有多困难?

While Intra-Cellular Therapies seems to be in a decent position, we reckon it is still worth thinking about how easily it could raise more cash, if that proved desirable. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund 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.

虽然Intra-Cellular Therapies似乎处于一个不错的位置,但我们认为值得考虑的是,如果需要筹集更多资金,它能否轻松实现。一般来说,上市公司可以通过发行股票或负债来筹集新资金。公开上市公司的主要优势之一是它们可以向投资者出售股票以筹集资金并支持增长。我们可以将公司的现金燃烧与其市值相比较,来看一年的运营可能需要发行多少新股来筹措资金。

Intra-Cellular Therapies' cash burn of US$61m is about 0.8% of its US$7.9b market capitalisation. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

Intra-Cellular Therapies的现金燃烧为6100万美元,大约占其79亿美元的市值的0.8%。因此,它几乎可以轻松借贷一点资金来支持另一年的增长,或者通过发行一些股票轻松筹集资金。

Is Intra-Cellular Therapies' Cash Burn A Worry?

Intra-Cellular Therapies的现金燃烧是一个令人担忧的问题吗?

As you can probably tell by now, we're not too worried about Intra-Cellular Therapies' cash burn. In particular, we think its revenue growth stands out as evidence that the company is well on top of its spending. And even its cash burn reduction was very encouraging. It's clearly very positive to see that analysts are forecasting the company will break even fairly soon. Taking all the factors in this report into account, we're not at all worried about its cash burn, as the business appears well capitalized to spend as needs be. Readers need to have a sound understanding of business risks before investing in a stock, and we've spotted 1 warning sign for Intra-Cellular Therapies that potential shareholders should take into account before putting money into a stock.

如你现在可能已经了解的那样,我们并不太担心Intra-Cellular Therapies的现金燃烧。特别是,我们认为其营业收入增长是证明该公司在控制支出方面表现良好的证据。甚至其现金燃烧的减少也是非常令人鼓舞的。可以清楚地看到,分析师预测公司很快将实现盈亏平衡,这显然非常积极。综合考虑本报告中的所有因素,我们对其现金燃烧一点也不担心,因为业务似乎资本充足,可以根据需要进行支出。读者在投资股票之前需要对业务风险有充分的了解,而我们已经发现Intra-Cellular Therapies存在一个警示信号,潜在股东在投资之前应考虑到这一点。

If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.

如果您希望查询其他基本面更好的公司,则不要错过具有高净资产回报率和低债务的有趣公司免费列表,或者这个预计所有股票都会增长的股票列表。

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