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EQRx (EQRX)

CM Life Sciences III Inc. (the “Company”) is a newly organized blank check company incorporated as a Delaware corporation on January 25, 2021. The Company was incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

EQRX stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$6.75
Low target
$5.50
High target
$8.00
JP Morgan
Initiated
Neutral
$5.50
16 Aug 22
Goldman Sachs
Initiated
Buy
$8.00
13 Jun 22

Calendar

11 Aug 22
17 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 865.07M 865.07M 865.07M 865.07M 865.07M 865.07M
Cash burn (monthly) 252.94M 104.79M 26.36M 13.91M 27.52M 10.94M
Cash used (since last report) 403.45M 167.15M 42.05M 22.19M 43.89M 17.45M
Cash remaining 461.62M 697.92M 823.02M 842.88M 821.18M 847.62M
Runway (months of cash) 1.8 6.7 31.2 60.6 29.8 77.5

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
25 Feb 22 Dina Ciarimboli Stock Option Common Stock Grant Acquire A No No 3.03 575,000 1.74M 575,000
25 Feb 22 Eric Hedrick Stock Option Common Stock Grant Acquire A No No 3.03 505,051 1.53M 505,051
25 Feb 22 Jami Rubin Stock Option Common Stock Grant Acquire A No No 3.03 515,601 1.56M 515,601
25 Feb 22 Amy Abernethy Stock Option Common Stock Grant Acquire A No No 3.03 449,644 1.36M 449,644
88.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 93 70 +32.9%
Opened positions 34 70 -51.4%
Closed positions 11 0 NEW
Increased positions 19 0 NEW
Reduced positions 8 0 NEW
13F shares Current Prev Q Change
Total value 1.62B 2.28B -29.0%
Total shares 394.64M 376.6M +4.8%
Total puts 19.9K 131.2K -84.8%
Total calls 711.8K 347.7K +104.7%
Total put/call ratio 0.0 0.4 -92.6%
Largest owners Shares Value Change
GV 2019 47.25M $0 0.0%
SB Management 43.18M $178.32M 0.0%
Casdin Capital 39.53M $163.25M 0.0%
Arch Venture 36.34M $150.07M 0.0%
ARCH Venture Fund X 36.34M $247.81M 0.0%
AH Bio Fund II 19.19M $166.78M 0.0%
Equity Partners Bio III, L.L.C. AH 19.19M $79.26M 0.0%
FMR 19.16M $79.11M +6.1%
Equity Partners Bio II, L.L.C. AH 17.44M $72.02M 0.0%
Arboretum Ventures 13.94M $57.55M 0.0%
Largest transactions Shares Bought/sold Change
BVF 12.03M +4.17M +53.0%
BLK Blackrock 3.15M +3.15M NEW
Vanguard 2.94M +2.94M NEW
Naya Capital Management Uk 0 -2.5M EXIT
Rokos Capital Management 2.35M +2.35M NEW
Geode Capital Management 2.33M +2.24M +2540.3%
BEN Franklin Resources 0 -2M EXIT
Soros Capital Management 2.4M +1.91M +397.2%
Beaumont Financial Partners 1.88M +1.88M NEW
Driehaus Capital Management 850K -1.81M -68.0%

Financial report summary

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Management Discussion
  • Research and development expenses were $47.3 million for the three months ended June 30, 2022, compared to $21.4 million for the three months ended June 30, 2021. The increase of $25.9 million was primarily driven by a $14.3 million increase in discovery, preclinical and clinical development costs, a $11.4 million increase in employee related expenses driven by significant growth in our research and development headcount to support
  • the development of our pipeline, a $2.7 million increase in information technology, facilities and other allocated expenses that support our overall research and development activities, and a $2.0 million increase in consulting and professional fees, partially offset by a $4.5 million decrease in license and milestone fees.
  • General and administrative expenses were $31.8 million for the three months ended June 30, 2022, compared to $13.2 million for the three months ended June 30, 2021. The increase of $18.6 million was primarily driven by a $14.4 million increase in employee related expenses driven by an increase in headcount to support the overall growth of the organization, a $3.4 million increase in consulting and professional fees, and a $0.8 million increase in information technology, facilities, overhead allocations and other expenses.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
New words: artificial, authoritative, central, EMA, FDA, float, intelligence, jurisdiction, meant, MHRA, NaN, recovery, sublicense, unrealized
Removed: executed