Biotech cash runway

Not ranked here, and why

• 67 sponsors: the filed balance sheet holds current assets this pipeline could not read — most often short-term investments under a caption our extractor does not map — so the liquidity leg would be understated and the runway too short. The unread remainder is never counted as cash; the row is withheld instead — ABCL, AGEN, AGIO, ALLO, ALLR, ALMS and 61 more.
• 55 sponsors: no filed cash line, or no four contiguous quarters of operating cash flow to build a trailing burn from — a trailing year summed across a missing quarter is not a burn rate — 3402.T, 4151.T, 4503.T, 4507.T, 4519.T, 4523.T and 49 more.
• 46 sponsors: generates cash — trailing operating cash flow (after capital expenditure where a matching trailing year is tagged) is positive, so there is no runway to measure and dividing by it would put the largest pharma companies at the top of a board about running out of money — 000100.KS, 068270.KS, ABBV, ACAD, AKBA, ALKS and 40 more.
• 12 sponsors: the filer's cash line and its cash-flow statement are not from the same filed quarter — either a newer quarter has been filed than the one our cash line stops at, or the operating year we can read ends before the cash line — so the runway would divide money held on one date by a burn measured to another; a runway is a claim about money held now — 051910.KS, ACXP, ALDX, APTOF, ARWR, BPTH and 6 more.
• 1 sponsor: the current-asset lines we read sum to more than the filer's own total for the same quarter, so one of them is counted twice — most often a cash caption that already includes the investments tagged beside it. Which line is doubled is not something this reader can know, so nothing is dropped and the row is withheld — SPRY.
• 1 sponsor: the latest filed quarterly balance sheet is more than 365 days old, so a runway measured from it would be a claim about money a year of burn has happened since — VCNX.