Here's Why We're Not At All Concerned With Belite Bio's (NASDAQ:BLTE) Cash Burn Situation [Yahoo! Finance]
Belite Bio, Inc - American Depositary Shares (BLTE)
Company Research
Source: Yahoo! Finance
So should Belite Bio NASDAQ:BLTE ) 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). We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway. Does Belite Bio Have A Long Cash Runway? A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. When Belite Bio last reported its June 2024 balance sheet in August 2024, it had zero debt and cash worth US$88m. Looking at the last year, the company burnt through US$30m. So it had a cash runway of about 2.9 years from June 2024. Importantly, analysts think that Belite Bio will reach cashflow breakeven in 4 years. That means unless the company reduces its cash burn quickly, it may well look to raise more cash. You can see how its cash balance has changed over time i
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BLTE
News
- Belite Bio, Inc (NASDAQ: BLTE) had its price target raised by analysts at Maxim Group from $60.00 to $110.00. They now have a "buy" rating on the stock.MarketBeat
- Belite Bio, Inc (NASDAQ: BLTE) had its price target raised by analysts at HC Wainwright from $60.00 to $100.00. They now have a "buy" rating on the stock.MarketBeat
- Belite Bio Reports Third Quarter 2024 Financial Results and Provides a Corporate UpdateGlobeNewswire
- Belite Bio to Host Webcast on November 12, 2024, to Discuss Third Quarter 2024 Financial ResultsGlobeNewswire
- Belite Bio Announces Exercise of Warrants for US$28.75 Million Gross ProceedsGlobeNewswire
BLTE
Earnings
- 11/12/24 - Beat
BLTE
Sec Filings
- 11/20/24 - Form 144
- 11/19/24 - Form 144
- 11/12/24 - Form 6-K
- BLTE's page on the SEC website