RAPT Therapeutics (RAPT Therapeutics) Beneish M-Score : 0.00 (As of May. 24, 2024)

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What is RAPT Therapeutics Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for RAPT Therapeutics's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of RAPT Therapeutics was 0.50. The lowest was -4.18. And the median was -1.47.

RAPT Therapeutics Beneish M-Score Historical Data

The historical data trend for RAPT Therapeutics's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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RAPT Therapeutics Beneish M-Score Chart

RAPT Therapeutics Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-1.42

-3.65

RAPT Therapeutics Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-4.18	-	-	-	-

Competitive Comparison of RAPT Therapeutics's Beneish M-Score

For the Biotechnology subindustry, RAPT Therapeutics's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

RAPT Therapeutics's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, RAPT Therapeutics's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where RAPT Therapeutics's Beneish M-Score falls into.

RAPT Therapeutics Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of RAPT Therapeutics for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $148.36 Mil.
Total Assets was $155.82 Mil.
Property, Plant and Equipment(Net PPE) was $7.01 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.23 Mil.
Selling, General, & Admin. Expense(SGA) was $27.81 Mil.
Total Current Liabilities was $21.17 Mil.
Long-Term Debt & Capital Lease Obligation was $3.82 Mil.
Net Income was -30.521 + -30.876 + -31.371 + -25.28 = $-118.05 Mil.
Non Operating Income was 1.997 + 2.341 + 2.548 + 3.084 = $9.97 Mil.
Cash Flow from Operations was -27.084 + -27.754 + -21.884 + -28.808 = $-105.53 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0.886 = $0.89 Mil.
Gross Profit was 0 + 0 + 0 + 0.886 = $0.89 Mil.
Total Current Assets was $234.59 Mil.
Total Assets was $248.33 Mil.
Property, Plant and Equipment(Net PPE) was $9.53 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.09 Mil.
Selling, General, & Admin. Expense(SGA) was $21.48 Mil.
Total Current Liabilities was $21.61 Mil.
Long-Term Debt & Capital Lease Obligation was $6.25 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0 / 0)	/	(0 / 0.886)
	=		/	0
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(0.886 / 0.886)	/	(0 / 0)
	=	1	/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (148.36 + 7.011) / 155.818)	/	(1 - (234.587 + 9.525) / 248.326)
	=	0.002869	/	0.01697
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	0.886
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(1.085 / (1.085 + 9.525))	/	(1.231 / (1.231 + 7.011))
	=	0.102262	/	0.149357
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(27.809 / 0)	/	(21.48 / 0.886)
	=		/	24.243792
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((3.815 + 21.168) / 155.818)	/	((6.248 + 21.608) / 248.326)
	=	0.160334	/	0.112175
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-118.048 - 9.97	-	-105.53)	/	155.818
	=	-0.144322

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

RAPT Therapeutics Beneish M-Score Related Terms

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RAPT Therapeutics (RAPT Therapeutics) Business Description

Industry

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0RA:Germany

Address

561 Eccles Avenue, South San Francisco, CA, USA, 94080

Website

https://www.rapt.com

RAPT Therapeutics Inc is a clinical-stage immunology-based biopharmaceutical company. It is focused on discovering, developing, and commercializing oral small molecule therapies for patients with some unmet needs in oncology and inflammatory diseases. The company pipeline products include FLX475, designed to selectively inhibit the migration of immunosuppressive regulatory T cells into tumors; and RPT193, designed to selectively inhibit the migration of type 2 T helper cells into inflamed tissues.

Executives

Dirk G. Brockstedt	officer: Chief Scientific Officer	C/O ADURO BIOTECH, INC., 740 HEINZ AVENUE, BERKELEY CA 94710
William Ho	officer: Chief Medical Officer	561 ECCLES AVENUE, SOUTH SAN FRANCISCO CA 94080
Wendye Robbins	director	C/O RAPT THERAPEUTICS, INC., 561 ECCLES AVENUE, SOUTH SAN FRANCISCO CA 94080
Column Group Ii, Lp	10 percent owner	1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158
Tcg Iv Gp, Llc	10 percent owner	1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158
Column Group Iv Gp, Lp	10 percent owner	1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158
Column Group Iv, Lp	10 percent owner	1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158
Column Group Iv-a, Lp	10 percent owner	1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158
Rodney Kb Young	officer: Chief Financial Officer	STEMCELLS, INC., 3155 PORTER DRIVE, PALO ALTO CA 94304
Lori Lyons-williams	director	C/O DERMIRA, INC., 275 MIDDLEFIELD ROAD, SUITE 150, MENLO PARK CA 94025
Column Group Llc	10 percent owner	1 LETTERMAN DRIVE, BUILDING D, SUITE M-900, SAN FRANCISCO CA 94129
Ponoi Ii Management, Llc	10 percent owner	1 LETTERMAN DRIVE, BUILDING D, SUITE M-900, SAN FRANCISCO CA 94129
Ponoi Capital Ii, Lp	10 percent owner	1700 OWENS STREET, STE 500, SAN FRANCISCO CA 94158
Ponoi Management, Llc	10 percent owner	1 LETTERMAN DRIVE, BUILDING D, SUITE M-900, SAN FRANCISCO CA 94129
Ponoi Capital, Lp	10 percent owner	1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158