We're Not Very Worried About ProKidney's (NASDAQ:PROK) Cash Burn Rate [Yahoo! Finance]
ProKidney Corp. - Class A Ordinary Shares (PROK)
Company Research
Source: Yahoo! Finance
Given this risk, we thought we'd take a look at whether ProKidney NASDAQ:PROK ) 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). First, we'll determine its cash runway by comparing its cash burn with its cash reserves. When Might ProKidney 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 ProKidney last reported its June 2024 balance sheet in August 2024, it had zero debt and cash worth US$432m. Looking at the last year, the company burnt through US$153m. That means it had a cash runway of about 2.8 years as of June 2024. Arguably, that's a prudent and sensible length of runway to have. You can see how its cash balance has changed over time in the image below. How Is ProKidney's Cash Burn Changing Over Time?
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PROK
News
- ProKidney Reports Third Quarter 2024 Financial Results along with Regulatory and Clinical Development Updates Following Successful FDA Type B MeetingGlobeNewswire
- ProKidney to Participate in the Guggenheim Inaugural Healthcare Innovation Conference and the Jefferies London Healthcare ConferenceGlobeNewswire
- ProKidney Announces Five Abstracts Selected for Presentation at the American Society of Nephrology’s Kidney Week 2024GlobeNewswire
- ProKidney to Participate in the UBS Virtual Organ Restoration DayGlobeNewswire
- ProKidney Corp. (NASDAQ: PROK) is now covered by analysts at JPMorgan Chase & Co.. They set a "neutral" rating on the stock.MarketBeat
PROK
Earnings
- 11/12/24 - In-Line
PROK
Sec Filings
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- 11/8/24 - Form SC
- PROK's page on the SEC website