Estados financieros detallados de Adaptimmune Therapeutics plc (ADAP): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Adaptimmune Therapeutics plc registró ingresos de $178.0M en el último ejercicio fiscal, con un CAGR de 5 años del 175.5%.
Márgenes de los últimos 12 meses: margen bruto 83.9%, margen operativo -362.7%, margen neto -371.7%.
Al precio actual de $0.05, ADAP presenta beneficios negativos (P/E no significativo) y un ROE del 143.79%. La capitalización bursátil es de $75M.
Cuenta de Resultados (10 años)
| Año | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|
| Ingresos | $10.7M | $14.2M | $37.8M | $59.5M | $1.1M | $4.0M | $6.1M | $27.1M | $60.3M | $178.0M |
| Coste de Ventas | 0 | 0 | 0 | 0 | $97.5M | $91.6M | $111.1M | $127.7M | $9.9M | $70000 |
| Beneficio Bruto | $10.7M | $14.2M | $37.8M | $59.5M | -$96.4M | -$87.6M | -$104.9M | -$100.6M | $50.4M | $178.0M |
| I+D | $23.2M | $63.8M | $87.4M | $98.3M | $97.5M | $91.6M | $111.1M | $127.7M | $126.5M | $149.1M |
| Generales y Administrativos | $11.3M | $23.2M | $31.1M | $43.6M | $43.4M | $45.8M | $57.3M | $63.4M | $71.8M | $81.3M |
| Gastos Operativos | $33.8M | $87.0M | $118.5M | $141.9M | $140.9M | $137.4M | $168.4M | $191.1M | $188.4M | $246.7M |
| Beneficio Operativo | -$23.1M | -$72.8M | -$80.7M | -$82.4M | -$139.8M | -$133.4M | -$162.2M | -$164.0M | -$138.0M | -$68.8M |
| EBITDA | -$23.8M | -$69.5M | -$75.2M | -$74.6M | -$131.8M | -$125.8M | -$155.7M | -$155.6M | -$128.2M | -$52.7M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $3.3M |
| Beneficio Antes de Impuestos | -$23.7M | -$70.7M | -$69.7M | -$95.0M | -$136.9M | -$129.9M | -$157.3M | -$163.0M | -$112.5M | -$67.3M |
| Impuestos | -$2.1M | $892000 | $451000 | $497000 | $242000 | $162000 | $791000 | $2.5M | $1.3M | $3.6M |
| Beneficio Neto | -$21.6M | -$71.6M | -$70.1M | -$95.5M | -$137.2M | -$130.1M | -$158.1M | -$165.5M | -$113.9M | -$70.8M |
| BPA | $-0.60 | $-1.02 | $-0.78 | $-0.96 | $-1.32 | $-0.90 | $-1.02 | $-1.02 | $-0.57 | $-0.28 |
| BPA Diluido | $-0.60 | $-1.02 | $-0.78 | $-0.96 | $-1.32 | $-0.90 | $-1.02 | $-1.02 | $-0.57 | $-0.28 |
| Acciones en Circulación (Diluidas) | $35.8M | $70.8M | $87.9M | $97.4M | $105.0M | $142.5M | $155.8M | $161.2M | $201.1M | $252.3M |
Cuenta de Resultados (Trimestral)
| Año | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 |
|---|
| Ingresos | $40.9M | $3.2M | $7.3M | $13.7M |
| Beneficio Bruto | $40.9M | $3.2M | $6.4M | $11.2M |
| Beneficio Operativo | -$14.7M | -$73.5M | -$45.7M | -$30.3M |
| EBITDA | -$12.9M | -$68.0M | -$42.7M | -$26.3M |
| Beneficio Neto | -$17.6M | -$74.2M | -$47.6M | -$30.3M |
| BPA | $-0.07 | $-0.29 | $-0.19 | $-0.12 |
| BPA Diluido | $-0.07 | $-0.29 | $-0.19 | $-0.12 |
Balance (10 años)
| Año | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|
| Caja y Equivalentes | $229.1M | $158.8M | $84.0M | $68.4M | $50.4M | $56.9M | $149.9M | $108.0M | $144.0M | $91.1M |
| Inversiones a Corto | $55.3M | $22.7M | $124.2M | $136.8M | $39.1M | $311.3M | $219.6M | $96.6M | $2.9M | $60.5M |
| Cuentas por Cobrar | $5.4M | $7.7M | $11.7M | $16.7M | $19.3M | $20.7M | $34.0M | $38.1M | $46.9M | $16.0M |
| Inventario | $102212 | $1.2M | $3.8M | $1.1M | $1.5M | 0 | 0 | 0 | 0 | $7.3M |
| Activos Corrientes | $295.1M | $198.8M | $230.2M | $231.1M | $120.5M | $398.2M | $415.5M | $255.4M | $207.6M | $188.2M |
| Inmovilizado Material | $5.4M | $27.9M | $40.7M | $36.1M | $51.9M | $46.7M | $51.4M | $71.5M | $71.7M | $51.2M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $177692 | $1.3M | $1.3M | $1.5M | $2.2M | $1.7M | $1.0M | $442000 | $330000 | $3.9M |
| Activos Totales | $300.7M | $234.5M | $281.1M | $276.7M | $181.5M | $451.1M | $469.5M | $328.9M | $282.6M | $246.0M |
| Cuentas por Pagar | $7.8M | $11.3M | $8.4M | $4.1M | $6.4M | $6.4M | $8.1M | $4.8M | $8.1M | $8.7M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $26.8M | $40.3M | $74.3M | $24.4M | $34.3M | $39.1M | $62.5M | $64.5M | $72.8M | $64.5M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $50.2M |
| Pasivos Totales | $41.1M | $68.4M | $78.2M | $29.9M | $57.9M | $109.9M | $263.6M | $247.0M | $243.1M | $234.1M |
| Reservas | -$47.2M | -$161.5M | -$231.6M | -$318.5M | -$455.7M | -$585.8M | -$743.8M | -$909.3M | -$1.02B | -$1.09B |
| Patrimonio Neto | $259.6M | $166.1M | $203.0M | $246.9M | $123.6M | $341.2M | $206.0M | $81.9M | $39.5M | $11.8M |
| Deuda Total | 0 | 0 | $124.2M | $136.8M | $25.5M | $23.7M | $25.5M | $23.1M | $25.2M | $74.2M |
| Deuda Neta | -$284.4M | -$181.5M | -$84.0M | -$68.4M | -$64.1M | -$344.5M | -$344.1M | -$181.5M | -$121.7M | -$77.4M |
| Capital Circulante | $268.3M | $158.5M | $155.9M | $206.7M | $86.1M | $359.1M | $352.9M | $190.9M | $134.8M | $123.6M |
Balance (Trimestral)
| Año | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 |
|---|
| Caja y Equivalentes | $116.7M | $91.1M | $41.1M | $26.1M |
| Activos Totales | $317.4M | $246.0M | $158.1M | $130.6M |
| Pasivos Totales | $237.4M | $234.1M | $195.5M | $201.6M |
| Patrimonio Neto | $80.0M | $11.8M | -$37.4M | -$71.0M |
| Deuda Total | $74.5M | $74.2M | $48.7M | $48.7M |
Flujo de Caja (10 años)
| Año | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|
| Beneficio Neto | -$23.7M | -$71.6M | -$70.1M | -$95.5M | -$137.2M | -$130.1M | -$158.1M | -$165.5M | -$113.9M | -$70.8M |
| Amortizaciones | $732785 | $3.3M | $5.4M | $7.8M | $8.0M | $7.6M | $6.6M | $6.1M | $9.8M | $11.2M |
| Compensación en Acciones | $4.2M | $8.8M | $10.8M | 0 | $11.1M | $10.4M | $20.6M | $18.2M | $11.8M | $12.1M |
| Cambio en Capital Circulante | -$13.7M | $12.5M | $7.2M | -$45.3M | $4.7M | $56.0M | $134.6M | -$1.5M | -$25.0M | -$37.0M |
| Flujo de Caja Operativo | -$32.7M | -$48.2M | -$54.3M | -$104.4M | -$112.5M | -$53.6M | $10.7M | -$141.8M | -$140.9M | -$73.2M |
| Inversiones (CapEx) | -$5.1M | -$12.8M | -$25.0M | -$4.7M | -$3.1M | -$2.9M | -$8.8M | -$29.7M | -$4.9M | -$2.7M |
| Adquisiciones | 0 | $1.3M | $369000 | $798000 | $1.5M | 0 | $207000 | $77.9M | $45.3M | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$37.8M | -$61.0M | -$79.3M | -$109.1M | -$115.6M | -$56.5M | $1.9M | -$171.5M | -$145.8M | -$75.9M |
Flujo de Caja (Trimestral)
| Año | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 |
|---|
| Flujo de Caja Operativo | -$54.5M | -$34.2M | -$66.6M | -$34.8M |
| Inversiones (CapEx) | -$435000 | -$1.2M | -$1.2M | -$75000 |
| Flujo de Caja Libre | -$54.9M | -$35.4M | -$67.8M | -$34.9M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $3.1M | $4.9M | $669000 | $1.3M |
Crecimiento y Márgenes (10 años)
| Año | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|
| Crecimiento Ingresos (anual) | | +32.4% | +166.5% | +57.3% | -98.1% | +252.8% | +55.4% | +341.5% | +122.0% | +195.3% |
| Crecimiento Beneficio Neto (anual) | | -231.6% | +2.0% | -36.2% | -43.6% | +5.2% | -21.5% | -4.7% | +31.2% | +37.8% |
| Crecimiento BPA (anual) | | -70.0% | +23.5% | -23.1% | -37.5% | +31.8% | -13.3% | +0.0% | +44.1% | +50.9% |
| Cambio en Acciones (anual) | | +97.8% | +24.2% | +10.7% | +7.8% | +35.7% | +9.4% | +3.5% | +24.7% | +25.5% |
| Crecimiento FCF (anual) | | -61.1% | -30.1% | -37.5% | -5.9% | +51.1% | +103.4% | -8904.4% | +15.0% | +47.9% |
| Margen Bruto | 100.0% | 100.0% | 100.0% | 100.0% | -8589.9% | -2213.5% | -1706.6% | -370.5% | 83.6% | 100.0% |
| Margen Operativo | -215.2% | -512.7% | -213.2% | -138.4% | -12457.2% | -3370.5% | -2638.6% | -604.0% | -229.0% | -38.6% |
| Margen EBITDA | -221.7% | -489.6% | -198.9% | -125.3% | -11743.3% | -3178.7% | -2531.8% | -573.1% | -212.7% | -29.6% |
| Margen Neto | -201.4% | -504.1% | -185.4% | -160.5% | -12225.0% | -3286.8% | -2571.0% | -609.5% | -188.9% | -39.8% |
| Margen FCF | -353.0% | -429.3% | -209.7% | -183.3% | -10301.3% | -1427.4% | 31.7% | -631.8% | -241.8% | -42.6% |
| Tasa Impositiva Efectiva | 8.9% | -1.3% | -0.6% | -0.5% | -0.2% | -0.1% | -0.5% | -1.5% | -1.2% | -5.3% |
Datos por Acción (10 años)
| Año | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|
| FCF por Acción | $-1.06 | $-0.86 | $-0.90 | $-1.12 | $-1.10 | $-0.40 | $0.01 | $-1.06 | $-0.72 | $-0.30 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $35.8M | $70.8M | $87.9M | $97.4M | $105.0M | $142.5M | $155.8M | $161.2M | $201.1M | $252.3M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | 143.79% |
| Rentabilidad sobre capital invertido | -90.90% |
| Rentabilidad sobre activos | -59.65% |
| Margen bruto | 83.88% |
| Margen operativo | -362.66% |
| Margen neto | -371.74% |
Salud financiera
| Deuda / Patrimonio | -0.69 |
| Ratio corriente | 1.52 |
| Piotroski F-Score | 4 |
| Altman Z-Score | -5.47 |
Ratios Clave (10 años)
| Año | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|
| P/E | -30.55 | -3.97 | -8.56 | -5.99 | -0.91 | -5.99 | -3.68 | -1.43 | -1.40 | -1.92 |
| P/VC | 2.53 | 1.73 | 2.89 | 2.27 | 1.02 | 2.25 | 2.84 | 2.87 | 4.04 | 11.47 |
| P/V | 61.18 | 20.19 | 15.53 | 9.41 | 112.26 | 194.01 | 95.02 | 8.67 | 2.65 | 0.76 |
| Margen Bruto | 100.0% | 100.0% | 100.0% | 100.0% | -8589.9% | -2213.5% | -1706.6% | -370.5% | 83.6% | 100.0% |
| Margen Operativo | -215.2% | -512.7% | -213.2% | -138.4% | -12457.2% | -3370.5% | -2638.6% | -604.0% | -229.0% | -38.6% |
| Margen Neto | -201.4% | -504.1% | -185.4% | -160.5% | -12225.0% | -3286.8% | -2571.0% | -609.5% | -188.9% | -39.8% |