IMARA Inc.

NasdaqGS:IMRA 株式レポート

時価総額:US$165.8m

This company is no longer active

The company may no longer be operating, as it may be out of business. Find out why through their latest events.

IMARA バランスシートの健全性

財務の健全性 基準チェック /66

主要情報

0%

負債資本比率

US$0

負債

インタレスト・カバレッジ・レシオn/a
現金US$88.20m
エクイティUS$90.13m
負債合計US$1.83m
総資産US$91.96m

財務の健全性に関する最新情報

Recent updates

Seeking Alpha Oct 13

Cancer drug developer Enliven Therapeutics and Imara to merge in all-stock deal

Pharmaceutical firms Enliven Therapeutics and Imara (NASDAQ:IMRA) have agreed to merge in an all-stock transaction. The combined company will focus on advancing Enliven's pipeline of precision oncology product candidates, IMRA said in a statement on Thursday. Enliven has two cancer drug candidates. The merged entity will be renamed Enliven Therapeutics and is expected to trade on the Nasdaq Global Select Market under the ticker symbol ELVN. To support the merger, Enliven also intends to raise about $165M in a concurrent private financing co-led by new investors Fairmount and Venrock Healthcare Capital Partners. The combined company is expected to have a cash balance of about $300M at close. IMRA stock earlier closed +4.5% at $2.58.
Seeking Alpha Sep 29

Imara: Potential Liquidation

Summary Imara has announced strategic alternatives and has announced the sale its key asset. It now trades 37% below its Pro Forma net cash levels and a liquidation would be ideal. The main risk here is management pursuing a reverse-merger. Imara (IMRA) is a failed $60m MCAP biotech company trading at a 37% discount to its Pro Forma net cash levels. In April, the company reduced its workforce by around 83% (to a total of 6 employees), discontinued its treatment development pipeline (relating to both IMR-687 and IMR-261), and commenced a strategic review. A couple of positive developments have occurred since then. In July, the company terminated its headquarter lease agreement to reduce operating expenses. Quite strange that their website still shows their office location; On the 7th of September, IMRA surprised the market by signing a deal to divest its IMR-687 treatment assets to Cardurion Pharmaceuticals. A key condition here is shareholder approval (majority of votes cast need to support the sale), which should easily pass as management holds 40% of shares outstanding. Management has recently released a preliminary proxy related to the sale but the shareholders' meeting date is yet to be announced. Overall it seems that this is a done deal that should close swiftly as there are no major conditions that stand in the way. The company will continue to explore strategic alternatives post-transaction. Discount to Pro-Forma Cash Upon closing of the aforementioned IMR-673 sale, IMRA will receive an upfront cash payment of $34.75m plus two contingent payments. The contingent payments are structured as follows: $10m will be received if the buyer (Cardurion) achieves a proof on concept milestone or other specified clinical milestones; $50m will be received if the buyer (Cardurion) achieves specified regulatory and/or commercial milestone events. Cardurion is a private company, specializing in cardiovascular disease. The company is developing new therapeutics for heart failure and cardiovascular diseases. Looking at their existing portfolio it is highly likely that the IMR-687 purchase will be used for similar purposes. As IMRA reported only plans of clinical development for IMR-687 in heart failures, it seems that even if the milestones get achieved, they would be hit a long way from now. Hence I view the contingent payments as more of a free option here. For context, if both milestones are achieved, shareholders stand to receive another $2.3/share on top of the existing $3.6/share Pro Forma net cash. The table below shows a more conservative scenario where IMRA only received the upfront payments. Discount to Net Cash (Company's Filings) Cash burn was still elevated in Q2 at near $12m but this was due to R&D expenses still being present and some one-off layoff compensations. Excluding the $7.4m in R&D expenses and excluding the one-off compensations, we arrive at an $8m/year cash burn or $0.3/share. According to these assumptions, after 1 year the company would still be trading at a 31% discount from its cash levels. I believe this provides a decent margin of safety for IMRA especially as it continues to explore strategic alternatives. As a bonus, the company also has its IMR-261 asset that can add additional value. However, the upside from such a sale would likely be minimal. Imara purchased this asset in 2020 for an upfront $75k payment plus uncertain contingent payments. This is a very small sum and Imara has done little work with this asset to suggest it is worth more than it did two years ago. IMR-261 is barely in phase 1 vs phase 2 for the sold IMR-687 treatment. As a side note, management did not comment on whether these sale proceeds will be taxable or not. IMRA has around $270m worth of NOL’s which can most likely be used to offset taxes. So the upfront cash payment of $34.75m is treated as net proceeds. Possible Scenarios Though the outcome of the strategic review is still uncertain, the ideal scenario would be a full-on liquidation of the company. Post-asset sale Imara is basically a cash shell with no operations and no headquarters. Management owns 40% so it would also benefit from a liquidation. The main risk here is that management pursues a reverse merger. Though management owns 40%, they are also used to receiving high salaries. A similar situation has recently happened with IMRA’s peer Sesen Bio. On the 21st of September SESN announced a reverse merger sending SESN’s shares down by 40%. Note that SESN was also a failed biopharma that traded below net-cash levels and announced a strategic review.
分析記事 Jul 23

We're Keeping An Eye On IMARA's (NASDAQ:IMRA) Cash Burn Rate

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
分析記事 Sep 09

We're Keeping An Eye On IMARA's (NASDAQ:IMRA) Cash Burn Rate

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...
分析記事 May 03

Is IMARA (NASDAQ:IMRA) In A Good Position To Invest In Growth?

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...
分析記事 Jan 11

Companies Like IMARA (NASDAQ:IMRA) Are In A Position To Invest In Growth

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...

財務状況分析

短期負債: IMRAの 短期資産 ( $89.6M ) が 短期負債 ( $1.8M ) を超えています。

長期負債: IMRAには長期負債はありません。


デット・ツー・エクイティの歴史と分析

負債レベル: IMRAは負債がありません。

負債の削減: IMRA負債比率が7.6%であった 5 年前と比べて負債がありません。

債務返済能力: IMRAには負債がないため、営業キャッシュフロー でカバーする必要はありません。

インタレストカバレッジ: IMRAには負債がないため、利息支払い の負担は問題になりません。


貸借対照表


健全な企業の発掘

企業分析と財務データの現状

データ最終更新日(UTC時間)
企業分析2023/02/24 09:16
終値2023/02/23 00:00
収益2022/12/31
年間収益2022/12/31

データソース

企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。

パッケージデータタイムフレーム米国ソース例
会社財務10年
  • 損益計算書
  • キャッシュ・フロー計算書
  • 貸借対照表
アナリストのコンセンサス予想+プラス3年
  • 予想財務
  • アナリストの目標株価
市場価格30年
  • 株価
  • 配当、分割、措置
所有権10年
  • トップ株主
  • インサイダー取引
マネジメント10年
  • リーダーシップ・チーム
  • 取締役会
主な進展10年
  • 会社からのお知らせ

* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用

特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM(Trailing Twelve Month)またはLTM(Last Twelve Month)データとして知られています。詳細はこちら

分析モデルとスノーフレーク

このレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。

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業界およびセクターの指標

私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。

アナリスト筋

IMARA Inc. これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。4

アナリスト機関
Yigal NochomovitzCitigroup Inc
Edward WhiteH.C. Wainwright & Co.
Joseph SchwartzLeerink Partners LLC