Here's Why We're Not Too Worried About Cogent Biosciences' (NASDAQ:COGT) Cash Burn Situation [Yahoo! Finance]
Cogent Biosciences, Inc. (COGT)
Last cogent biosciences, inc. earnings: 11/8 04:05 pm
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US:NASDAQ Investor Relations:
investors.cogint.com/investor-relations
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Source: Yahoo! Finance
Given this risk, we thought we'd take a look at whether Cogent Biosciences NASDAQ:COGT ) shareholders should 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. When Might Cogent Biosciences Run Out Of Money? 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 Cogent Biosciences last reported its June 2024 balance sheet in August 2024, it had zero debt and cash worth US$363m. Looking at the last year, the company burnt through US$178m. So it had a cash runway of about 2.0 years from June 2024. Importantly, analysts think that Cogent Biosciences will reach cashflow breakeven in 3 years. That means unless the company reduces its cash burn quickly, it may
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News
- Cogent Biosciences, Inc. (NASDAQ: COGT) had its price target lowered by analysts at Needham & Company LLC from $16.00 to $15.00. They now have a "buy" rating on the stock.MarketBeat
- Cogent Biosciences, Inc. (NASDAQ: COGT) had its "neutral" rating re-affirmed by analysts at Wedbush. They now have a $11.00 price target on the stock.MarketBeat
- Cogent Biosciences Reports Recent Business Highlights and Third Quarter 2024 Financial ResultsGlobeNewswire
- Cogent Biosciences Announces Bezuclastinib Presentations at the 66th Annual American Society of Hematology (ASH) MeetingGlobeNewswire
- Cogent Biosciences, Inc. (NASDAQ: COGT) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $17.00 price target on the stock.MarketBeat
COGT
Earnings
- 11/12/24 - Miss
COGT
Sec Filings
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- 11/7/24 - Form SC
- COGT's page on the SEC website