Estados financieros detallados de Neurogene Inc. (NGNE): 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 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $34.67, NGNE presenta beneficios negativos (P/E no significativo) y un ROE del -45.11%. La capitalización bursátil es de $548M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | $25.0M | 0 | 0 | 0 | 0 | 0 | $925000 | 0 |
| Coste de Ventas | 0 | 0 | 0 | $340000 | $1.8M | $42.3M | $3.2M | $3.3M | $3.2M | $3.2M |
| Beneficio Bruto | 0 | 0 | $25.0M | -$340000 | -$1.8M | -$42.3M | -$3.2M | -$3.3M | -$2.3M | -$3.2M |
| I+D | $28.4M | $36.3M | $32.8M | $6.3M | $24.3M | $42.3M | $47.5M | $44.4M | $60.9M | $75.0M |
| Generales y Administrativos | $9.3M | $14.9M | $15.7M | $17.8M | $15.4M | $8.3M | $9.0M | $11.2M | $22.6M | $25.1M |
| Gastos Operativos | $37.6M | $51.1M | $48.5M | $24.1M | $39.7M | $8.3M | $53.3M | $52.3M | $80.3M | $100.0M |
| Beneficio Operativo | -$37.6M | -$51.1M | -$23.5M | -$24.4M | -$41.6M | -$50.5M | -$56.5M | -$55.6M | -$82.6M | -$103.2M |
| EBITDA | -$37.0M | -$50.2M | -$31.6M | -$69.1M | -$31.5M | -$49.6M | -$52.0M | -$33.0M | -$71.9M | -$87.3M |
| Gastos por Intereses | $1000 | $4000 | $4000 | $1000 | 0 | 0 | $2000 | $12000 | $12000 | $5000 |
| Beneficio Antes de Impuestos | -$37.0M | -$50.2M | -$31.6M | -$69.4M | -$33.3M | -$50.5M | -$55.2M | -$36.3M | -$75.1M | -$90.4M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$37.0M | -$50.2M | -$31.6M | -$69.4M | -$33.3M | -$50.5M | -$55.2M | -$36.3M | -$75.1M | -$90.4M |
| BPA | $-1.96 | $-2.14 | $-1.34 | $-2.57 | $-0.64 | $-0.92 | $-4.30 | $-2.83 | $-4.28 | $-4.24 |
| BPA Diluido | $-1.96 | $-2.14 | $-1.34 | $-2.57 | $-0.64 | $-0.92 | $-4.30 | $-2.83 | $-4.28 | $-4.24 |
| Acciones en Circulación (Diluidas) | $18.9M | $23.5M | $23.5M | $27.0M | $51.8M | $55.0M | $12.8M | $12.8M | $17.6M | $21.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$17.2M | -$787000 | -$854000 | 0 |
| Beneficio Operativo | -$23.8M | -$27.5M | -$33.3M | -$36.7M |
| EBITDA | -$20.2M | -$23.9M | -$30.1M | -$32.1M |
| Beneficio Neto | -$21.0M | -$24.7M | -$30.9M | -$34.5M |
| BPA | $-0.99 | $-1.60 | $-1.39 | $-1.53 |
| BPA Diluido | $-0.99 | $-1.60 | $-1.39 | $-1.53 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $32.3M | $52.0M | $76.9M | $143.1M | $192.6M | $70.5M | $82.0M | $148.2M | $136.6M | $103.8M |
| Inversiones a Corto | $70.8M | $56.1M | 0 | 0 | 0 | 0 | 0 | $48.9M | $175.8M | $165.2M |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | $790000 | 0 | $600000 | $648000 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | $1.9M | 0 | 0 | 0 | 0 |
| Activos Corrientes | $103.5M | $108.8M | $77.2M | $143.6M | $194.5M | $74.0M | $84.7M | $200.3M | $315.9M | $271.8M |
| Inmovilizado Material | $849000 | $905000 | $400000 | $2.8M | $13.7M | $27.5M | $24.5M | $21.0M | $18.5M | $15.5M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | $567000 | $347000 | $128000 | 0 | 0 | 0 | 0 |
| Activos Totales | $154.4M | $110.3M | $77.6M | $147.0M | $210.5M | $101.5M | $109.3M | $222.6M | $335.7M | $288.6M |
| Cuentas por Pagar | 0 | 0 | $702000 | $1.6M | $1.3M | $5.6M | $625000 | $2.6M | $1.3M | $2.0M |
| Deuda a Corto | 0 | 0 | 0 | $618000 | $708000 | $1.2M | 0 | 0 | $3.0M | $3.1M |
| Pasivos Corrientes | $9.5M | $11.0M | $4.6M | $4.7M | $7.9M | $10.9M | $6.7M | $23.0M | $15.2M | $16.4M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $6.8M |
| Pasivos Totales | $9.7M | $11.4M | $4.9M | $5.3M | $19.3M | $193.4M | $10.6M | $36.5M | $25.4M | $23.7M |
| Reservas | -$148.3M | -$198.5M | -$230.1M | -$299.5M | -$332.8M | -$95.6M | -$150.8M | -$187.2M | -$262.3M | -$352.6M |
| Patrimonio Neto | $144.7M | $98.9M | $72.7M | $141.7M | $191.2M | -$91.9M | $98.6M | $186.0M | $310.4M | $264.9M |
| Deuda Total | $47000 | $32999 | $6000 | $1.2M | $12.1M | $6.4M | $4.7M | $16.3M | $12.4M | $9.9M |
| Deuda Neta | -$103.0M | -$108.1M | -$76.9M | -$141.9M | -$180.4M | -$64.1M | -$77.3M | -$180.9M | -$300.0M | -$259.1M |
| Capital Circulante | $94.0M | $97.9M | $72.5M | $138.9M | $186.6M | $63.1M | $78.1M | $177.4M | $300.8M | $255.4M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $71.0M | $103.8M | $124.2M | $112.5M |
| Activos Totales | $287.8M | $289.2M | $263.1M | $244.4M |
| Pasivos Totales | $22.3M | $24.3M | $25.4M | $27.2M |
| Patrimonio Neto | $265.5M | $264.9M | $237.8M | $217.1M |
| Deuda Total | $11.3M | $9.9M | $9.1M | $8.3M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$37.0M | -$50.2M | -$31.6M | -$8.1M | -$33.3M | -$50.5M | -$55.2M | -$36.3M | -$75.1M | -$90.4M |
| Amortizaciones | 0 | 0 | 0 | $340000 | $1.8M | $947000 | $3.2M | $3.3M | $3.2M | $3.1M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | $896000 | $1.3M | $1.4M | $8.3M | $14.2M |
| Cambio en Capital Circulante | $4.7M | $917000 | -$5.4M | -$2.0M | $966000 | $1.6M | -$2.7M | -$4.0M | -$6.0M | $268000 |
| Flujo de Caja Operativo | -$30.2M | -$44.7M | -$31.6M | -$15.4M | -$24.6M | -$46.4M | -$52.8M | -$51.4M | -$70.6M | -$77.2M |
| Inversiones (CapEx) | -$713000 | -$494000 | -$49000 | -$879000 | -$2.2M | -$18.4M | -$2.2M | -$321000 | -$808000 | -$1.2M |
| Adquisiciones | 0 | 0 | 0 | $191000 | 0 | 0 | 0 | 0 | 0 | 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 | -$30.9M | -$45.2M | -$31.6M | -$16.3M | -$26.8M | -$64.8M | -$55.1M | -$51.7M | -$71.4M | -$78.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$19.7M | -$16.7M | -$26.1M | -$23.8M |
| Inversiones (CapEx) | -$126109 | -$114289 | -$281000 | -$354000 |
| Flujo de Caja Libre | -$19.8M | -$16.8M | -$26.4M | -$24.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | $7.9M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | -100.0% | | | | | | -100.0% |
| Crecimiento Beneficio Neto (anual) | | -35.6% | +37.1% | -119.9% | +52.1% | -51.8% | -9.2% | +34.2% | -106.9% | -20.2% |
| Crecimiento BPA (anual) | | -9.2% | +37.4% | -91.8% | +75.1% | -43.8% | -367.4% | +34.2% | -51.2% | +0.9% |
| Cambio en Acciones (anual) | | +24.1% | +0.3% | +14.9% | +91.7% | +6.2% | -76.7% | +0.0% | +37.0% | +20.5% |
| Crecimiento FCF (anual) | | -46.1% | +30.0% | +48.5% | -64.7% | -141.7% | +15.0% | +6.0% | -38.0% | -9.7% |
| Margen Bruto | | | 100.0% | | | | | | -251.0% | |
| Margen Operativo | | | -94.1% | | | | | | -8930.3% | |
| Margen EBITDA | | | -126.3% | | | | | | -7771.4% | |
| Margen Neto | | | -126.3% | | | | | | -8123.7% | |
| Margen FCF | | | -126.5% | | | | | | -7720.1% | |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-1.64 | $-1.93 | $-1.34 | $-0.60 | $-0.52 | $-1.18 | $-4.29 | $-4.03 | $-4.07 | $-3.70 |
| 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) | $18.9M | $23.5M | $23.5M | $27.0M | $51.8M | $55.0M | $12.8M | $12.8M | $17.6M | $21.2M |
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 | -45.11% |
| Rentabilidad sobre capital invertido | -53.72% |
| Rentabilidad sobre activos | -45.47% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.04 |
| Ratio corriente | 10.64 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -168.47 | -109.91 | -32.24 | -95.88 | -440.62 | -104.78 | -2.37 | -6.85 | -5.34 | -4.86 |
| P/VC | 43.13 | 55.78 | 13.98 | 47.01 | 76.43 | -57.75 | 1.32 | 1.34 | 1.29 | 1.65 |
| P/V | 0.00 | 0.00 | 40.64 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 434.14 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -251.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | -94.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -8930.3% | 0.0% |
| Margen Neto | 0.0% | 0.0% | -126.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -8123.7% | 0.0% |