Estados financieros detallados de Connect Biopharma Holdings Limited (CNTB): 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
Márgenes de los últimos 12 meses: margen bruto 100.0%, margen operativo -907.4%, margen neto -866.9%.
Al precio actual de $1.24, CNTB presenta beneficios negativos (P/E no significativo) y un ROE del -132.16%. La capitalización bursátil es de $78M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | $26.0M | $64000 |
| Coste de Ventas | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | 0 | 0 | 0 | 0 | $26.0M | $64000 |
| I+D | $15.4M | $23.1M | $80.5M | $96.6M | $53.0M | $29.3M | $37.8M |
| Generales y Administrativos | $1.4M | $7.3M | $19.0M | $20.8M | $16.1M | $19.2M | $20.3M |
| Gastos Operativos | $16.4M | $29.4M | $98.1M | $119.3M | $69.1M | $48.5M | $58.1M |
| Beneficio Operativo | -$16.0M | -$30.3M | -$98.1M | -$119.3M | -$69.1M | -$22.5M | -$58.1M |
| EBITDA | -$24.8M | -$118.2M | -$201.4M | -$116.7M | -$61.3M | -$14.7M | -$54.6M |
| Gastos por Intereses | $7689 | $6434 | $6909 | $21032 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$24.5M | -$119.4M | -$202.0M | -$117.8M | -$62.0M | -$15.4M | -$55.3M |
| Impuestos | 0 | 0 | $266000 | $298000 | $120000 | $223000 | $197000 |
| Beneficio Neto | -$24.5M | -$119.4M | -$202.3M | -$118.1M | -$62.1M | -$15.6M | -$55.5M |
| BPA | $-3.02 | $-14.45 | $-25.00 | $-14.50 | $-1.08 | $-0.28 | $-1.00 |
| BPA Diluido | $-3.02 | $-14.45 | $-25.00 | $-14.50 | $-1.08 | $-0.28 | $-1.00 |
| Acciones en Circulación (Diluidas) | $55.8M | $53.9M | $52.3M | $55.0M | $55.1M | $55.2M | $55.7M |
Cuenta de Resultados (Trimestral)
| Año | 2024-Q4 | 2025-Q2 | 2025-Q4 | 2026-Q2 |
|---|
| Ingresos | $698000 | $48000 | 0 | $2.9M |
| Beneficio Bruto | $698000 | $48000 | 0 | $2.9M |
| Beneficio Operativo | -$9.6M | -$13.4M | -$15.5M | -$37.2M |
| EBITDA | -$8.6M | -$12.7M | -$14.9M | -$36.9M |
| Beneficio Neto | -$8.9M | -$12.9M | -$15.1M | -$36.7M |
| BPA | $-0.42 | $-0.23 | $-0.27 | $-0.61 |
| BPA Diluido | $-0.42 | $-0.23 | $-0.27 | $-0.61 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $61.3M | $6.4M | $23.7M | $267.7M | $79.0M | $105.7M | $78.2M | $38.3M |
| Inversiones a Corto | $371012 | $635147 | $306412 | 0 | $73.4M | $12.6M | $15.5M | $6.0M |
| Cuentas por Cobrar | 0 | $25109 | $40587 | $7.4M | $232000 | $351000 | $1.1M | $161000 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $68.1M | $7.5M | $24.8M | $275.1M | $155.8M | $122.6M | $97.0M | $50.9M |
| Inmovilizado Material | $479612 | $70954 | $184485 | $9.4M | $5.4M | $4.7M | $4.2M | $4.5M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | $8019 | $3.5M | $3.2M | $62000 | $53000 | $45000 |
| Activos Totales | $69.3M | $7.7M | $25.4M | $291.1M | $174.0M | $127.4M | $101.3M | $56.1M |
| Cuentas por Pagar | $499672 | $472504 | $577701 | $12.7M | $11.9M | $2.2M | $342000 | $2.0M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $966556 | $568070 | $890937 | $18.0M | $15.6M | $25.3M | $8.5M | $13.6M |
| Deuda a Largo | $87.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $88.7M | $13.9M | $49.5M | $18.8M | $16.5M | $25.9M | $9.1M | $14.1M |
| Reservas | -$18.9M | -$6.1M | -$25.1M | -$361.8M | -$479.8M | -$329.7M | -$345.4M | -$400.8M |
| Patrimonio Neto | -$19.4M | -$6.2M | -$24.0M | $272.3M | $157.5M | $101.5M | $92.2M | $42.0M |
| Deuda Total | $87.7M | $18287 | $21407 | $125000 | $431000 | $465000 | $178000 | $690000 |
| Deuda Neta | $21.8M | -$7.0M | -$24.0M | -$267.6M | -$152.0M | -$117.8M | -$93.5M | -$43.7M |
| Capital Circulante | $67.1M | $7.0M | $23.9M | $257.1M | $140.2M | $97.3M | $88.5M | $37.3M |
Balance (Trimestral)
| Año | 2024-Q4 | 2025-Q2 | 2025-Q4 | 2026-Q2 |
|---|
| Caja y Equivalentes | $78.2M | $40.6M | $38.3M | $27.0M |
| Activos Totales | $101.3M | $82.7M | $56.1M | $43.5M |
| Pasivos Totales | $9.1M | $11.4M | $14.1M | $16.6M |
| Patrimonio Neto | $92.2M | $71.3M | $42.0M | $26.9M |
| Deuda Total | $178000 | $870000 | $690000 | $596000 |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$24.5M | -$119.4M | -$204.9M | -$116.1M | -$59.4M | -$15.6M | -$55.5M |
| Amortizaciones | $114610 | $221053 | $640980 | $1.0M | $988000 | $660000 | $704000 |
| Compensación en Acciones | $562173 | $590644 | $1.4M | $1.0M | $3.3M | $6.7M | $3.7M |
| Cambio en Capital Circulante | $2.4M | -$436285 | $3.3M | $7.2M | $9.5M | -$15.5M | $580000 |
| Flujo de Caja Operativo | -$13.1M | -$25.6M | -$85.6M | -$99.3M | -$47.9M | -$23.6M | -$51.2M |
| Inversiones (CapEx) | -$155523 | -$2.3M | -$7.5M | -$4.3M | -$294000 | -$750000 | -$434000 |
| Adquisiciones | $329 | $53463 | $47735 | $79161 | $2.9M | 0 | 0 |
| Recompra de Acciones | 0 | 0 | -$566000 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$13.2M | -$28.0M | -$93.0M | -$103.6M | -$48.2M | -$24.4M | -$51.6M |
Flujo de Caja (Trimestral)
| Año | 2024-Q4 | 2025-Q2 | 2025-Q4 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$15.6M | -$12.6M | -$11.2M | -$20.7M |
| Inversiones (CapEx) | -$312077 | -$303000 | -$16000 | $16000 |
| Flujo de Caja Libre | -$15.9M | -$12.9M | -$11.3M | -$20.7M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $4.9M | $951000 | $917000 | $1.5M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | | | -99.8% |
| Crecimiento Beneficio Neto (anual) | | -387.9% | -69.4% | +41.6% | +47.4% | +74.8% | -255.0% |
| Crecimiento BPA (anual) | | -378.5% | -73.0% | +42.0% | +92.6% | +74.1% | -257.1% |
| Cambio en Acciones (anual) | | -3.4% | -3.1% | +5.3% | +0.0% | +0.3% | +0.8% |
| Crecimiento FCF (anual) | | -111.0% | -232.8% | -11.3% | +53.4% | +49.5% | -112.0% |
| Margen Bruto | | | | | | 100.0% | 100.0% |
| Margen Operativo | | | | | | -86.2% | -90740.6% |
| Margen EBITDA | | | | | | -56.6% | -85279.7% |
| Margen Neto | | | | | | -60.0% | -86687.5% |
| Margen FCF | | | | | | -93.6% | -80687.5% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.1% | -0.3% | -0.2% | -1.4% | -0.4% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.24 | $-0.52 | $-1.78 | $-1.88 | $-0.88 | $-0.44 | $-0.93 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $55.8M | $53.9M | $52.3M | $55.0M | $55.1M | $55.2M | $55.7M |
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 | -132.16% |
| Rentabilidad sobre capital invertido | -135.74% |
| Rentabilidad sobre activos | -98.94% |
| Margen bruto | 100.00% |
| Margen operativo | -90740.62% |
| Margen neto | -86687.50% |
Salud financiera
| Deuda / Patrimonio | 0.02 |
| Ratio corriente | 3.74 |
| Piotroski F-Score | 1 |
| Altman Z-Score | -5.94 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 0.00 | -6.12 | -1.28 | -0.21 | -0.06 | -1.09 | -4.93 | -2.82 |
| P/VC | 0.00 | -166.87 | -41.50 | 0.99 | 0.30 | 0.64 | 0.83 | 3.74 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.93 | 2452.52 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 100.0% | 100.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -86.2% | -90740.6% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -60.0% | -86687.5% |