Intrinsic value of Conatus Pharmaceuticals - CNAT

Previous Close

$3.95

  Intrinsic Value

$0.24

stock screener

  Rating & Target

str. sell

-94%

Previous close

$3.95

 
Intrinsic value

$0.24

 
Up/down potential

-94%

 
Rating

str. sell

We calculate the intrinsic value of CNAT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  56
  87
  129
  188
  265
  364
  489
  642
  826
  1,043
  1,295
  1,584
  1,909
  2,271
  2,670
  3,106
  3,578
  4,085
  4,627
  5,202
  5,810
  6,450
  7,122
  7,825
  8,560
  9,326
  10,123
  10,953
  11,816
  12,713
Variable operating expenses, $m
  429
  663
  991
  1,438
  2,029
  2,789
  3,744
  4,916
  6,326
  7,990
  9,922
  12,131
  14,621
  17,397
  20,455
  23,794
  27,409
  31,294
  35,442
  39,847
  44,504
  49,408
  54,554
  59,941
  65,568
  71,435
  77,545
  83,903
  90,513
  97,383
Fixed operating expenses, $m
  27
  27
  28
  28
  29
  30
  30
  31
  32
  32
  33
  34
  35
  35
  36
  37
  38
  38
  39
  40
  41
  42
  43
  44
  45
  46
  47
  48
  49
  50
Total operating expenses, $m
  456
  690
  1,019
  1,466
  2,058
  2,819
  3,774
  4,947
  6,358
  8,022
  9,955
  12,165
  14,656
  17,432
  20,491
  23,831
  27,447
  31,332
  35,481
  39,887
  44,545
  49,450
  54,597
  59,985
  65,613
  71,481
  77,592
  83,951
  90,562
  97,433
Operating income, $m
  -400
  -603
  -889
  -1,279
  -1,793
  -2,455
  -3,286
  -4,305
  -5,532
  -6,979
  -8,660
  -10,581
  -12,747
  -15,161
  -17,821
  -20,725
  -23,869
  -27,247
  -30,854
  -34,685
  -38,735
  -42,999
  -47,475
  -52,160
  -57,053
  -62,155
  -67,469
  -72,997
  -78,745
  -84,720
EBITDA, $m
  -399
  -603
  -889
  -1,279
  -1,793
  -2,455
  -3,285
  -4,305
  -5,531
  -6,979
  -8,659
  -10,580
  -12,746
  -15,159
  -17,819
  -20,723
  -23,867
  -27,244
  -30,852
  -34,682
  -38,732
  -42,996
  -47,471
  -52,155
  -57,048
  -62,149
  -67,462
  -72,990
  -78,738
  -84,712
Interest expense (income), $m
  0
  1
  1
  3
  7
  12
  18
  27
  37
  50
  66
  84
  105
  130
  157
  188
  221
  258
  298
  340
  386
  435
  486
  540
  596
  656
  717
  782
  849
  919
  992
Earnings before tax, $m
  -401
  -604
  -893
  -1,286
  -1,805
  -2,473
  -3,312
  -4,343
  -5,582
  -7,045
  -8,744
  -10,686
  -12,877
  -15,318
  -18,009
  -20,946
  -24,127
  -27,545
  -31,195
  -35,071
  -39,170
  -43,485
  -48,015
  -52,756
  -57,708
  -62,872
  -68,251
  -73,846
  -79,664
  -85,712
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -401
  -604
  -893
  -1,286
  -1,805
  -2,473
  -3,312
  -4,343
  -5,582
  -7,045
  -8,744
  -10,686
  -12,877
  -15,318
  -18,009
  -20,946
  -24,127
  -27,545
  -31,195
  -35,071
  -39,170
  -43,485
  -48,015
  -52,756
  -57,708
  -62,872
  -68,251
  -73,846
  -79,664
  -85,712

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  56
  86
  129
  187
  264
  363
  487
  639
  823
  1,039
  1,290
  1,577
  1,901
  2,262
  2,660
  3,094
  3,564
  4,069
  4,608
  5,181
  5,787
  6,424
  7,094
  7,794
  8,526
  9,289
  10,083
  10,910
  11,769
  12,663
Adjusted assets (=assets-cash), $m
  56
  86
  129
  187
  264
  363
  487
  639
  823
  1,039
  1,290
  1,577
  1,901
  2,262
  2,660
  3,094
  3,564
  4,069
  4,608
  5,181
  5,787
  6,424
  7,094
  7,794
  8,526
  9,289
  10,083
  10,910
  11,769
  12,663
Revenue / Adjusted assets
  1.000
  1.012
  1.000
  1.005
  1.004
  1.003
  1.004
  1.005
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
  1.004
Average production assets, $m
  0
  1
  1
  1
  2
  2
  3
  4
  5
  6
  8
  10
  11
  14
  16
  19
  21
  25
  28
  31
  35
  39
  43
  47
  51
  56
  61
  66
  71
  76
Working capital, $m
  -19
  -29
  -44
  -63
  -90
  -123
  -165
  -217
  -279
  -353
  -438
  -535
  -645
  -768
  -903
  -1,050
  -1,209
  -1,381
  -1,564
  -1,758
  -1,964
  -2,180
  -2,407
  -2,645
  -2,893
  -3,152
  -3,422
  -3,702
  -3,994
  -4,297
Total debt, $m
  9
  37
  75
  128
  197
  286
  397
  535
  700
  894
  1,120
  1,379
  1,670
  1,995
  2,353
  2,744
  3,167
  3,621
  4,107
  4,622
  5,167
  5,741
  6,343
  6,974
  7,632
  8,319
  9,034
  9,778
  10,551
  11,356
Total liabilities, $m
  50
  78
  116
  168
  237
  326
  438
  575
  740
  935
  1,161
  1,420
  1,711
  2,036
  2,394
  2,785
  3,208
  3,662
  4,148
  4,663
  5,208
  5,782
  6,384
  7,015
  7,673
  8,360
  9,075
  9,819
  10,592
  11,396
Total equity, $m
  6
  9
  13
  19
  26
  36
  49
  64
  82
  104
  129
  158
  190
  226
  266
  309
  356
  407
  461
  518
  579
  642
  709
  779
  853
  929
  1,008
  1,091
  1,177
  1,266
Total liabilities and equity, $m
  56
  87
  129
  187
  263
  362
  487
  639
  822
  1,039
  1,290
  1,578
  1,901
  2,262
  2,660
  3,094
  3,564
  4,069
  4,609
  5,181
  5,787
  6,424
  7,093
  7,794
  8,526
  9,289
  10,083
  10,910
  11,769
  12,662
Debt-to-equity ratio
  1.690
  4.270
  5.840
  6.820
  7.450
  7.880
  8.160
  8.360
  8.500
  8.610
  8.680
  8.740
  8.790
  8.820
  8.850
  8.870
  8.890
  8.900
  8.910
  8.920
  8.930
  8.940
  8.940
  8.950
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -401
  -604
  -893
  -1,286
  -1,805
  -2,473
  -3,312
  -4,343
  -5,582
  -7,045
  -8,744
  -10,686
  -12,877
  -15,318
  -18,009
  -20,946
  -24,127
  -27,545
  -31,195
  -35,071
  -39,170
  -43,485
  -48,015
  -52,756
  -57,708
  -62,872
  -68,251
  -73,846
  -79,664
  -85,712
Depreciation, amort., depletion, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  2
  2
  2
  2
  3
  3
  3
  4
  4
  5
  5
  6
  6
  7
  7
  8
Funds from operations, $m
  -401
  -604
  -893
  -1,286
  -1,805
  -2,473
  -3,312
  -4,342
  -5,581
  -7,045
  -8,743
  -10,685
  -12,876
  -15,316
  -18,007
  -20,944
  -24,124
  -27,542
  -31,192
  -35,068
  -39,166
  -43,481
  -48,010
  -52,751
  -57,703
  -62,867
  -68,244
  -73,840
  -79,657
  -85,704
Change in working capital, $m
  -7
  -10
  -14
  -20
  -26
  -34
  -42
  -52
  -62
  -73
  -85
  -97
  -110
  -122
  -135
  -147
  -160
  -171
  -183
  -194
  -205
  -216
  -227
  -238
  -248
  -259
  -270
  -281
  -292
  -303
Cash from operations, $m
  -394
  -594
  -878
  -1,266
  -1,779
  -2,440
  -3,270
  -4,291
  -5,519
  -6,971
  -8,658
  -10,588
  -12,766
  -15,194
  -17,872
  -20,797
  -23,965
  -27,371
  -31,009
  -34,874
  -38,961
  -43,265
  -47,783
  -52,513
  -57,455
  -62,608
  -67,975
  -73,559
  -79,366
  -85,401
Maintenance CAPEX, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -4
  -4
  -5
  -5
  -6
  -6
  -7
  -7
New CAPEX, $m
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
Cash from investing activities, $m
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -3
  -3
  -3
  -3
  -3
  -5
  -5
  -5
  -5
  -6
  -7
  -7
  -8
  -8
  -9
  -10
  -11
  -11
  -12
  -12
Free cash flow, $m
  -394
  -594
  -879
  -1,266
  -1,779
  -2,440
  -3,271
  -4,292
  -5,521
  -6,973
  -8,660
  -10,590
  -12,769
  -15,197
  -17,876
  -20,801
  -23,970
  -27,376
  -31,015
  -34,880
  -38,967
  -43,272
  -47,791
  -52,522
  -57,464
  -62,618
  -67,985
  -73,570
  -79,377
  -85,413
Issuance/(repayment) of debt, $m
  -4
  27
  38
  52
  69
  89
  112
  137
  165
  195
  226
  258
  291
  325
  358
  391
  423
  455
  485
  516
  545
  574
  602
  630
  658
  687
  715
  744
  774
  804
Issuance/(repurchase) of shares, $m
  425
  607
  897
  1,292
  1,813
  2,483
  3,325
  4,358
  5,600
  7,067
  8,769
  10,715
  12,909
  15,354
  18,048
  20,990
  24,174
  27,595
  31,249
  35,129
  39,230
  43,549
  48,081
  52,826
  57,781
  62,949
  68,330
  73,929
  79,750
  85,801
Cash from financing (excl. dividends), $m  
  421
  634
  935
  1,344
  1,882
  2,572
  3,437
  4,495
  5,765
  7,262
  8,995
  10,973
  13,200
  15,679
  18,406
  21,381
  24,597
  28,050
  31,734
  35,645
  39,775
  44,123
  48,683
  53,456
  58,439
  63,636
  69,045
  74,673
  80,524
  86,605
Total cash flow (excl. dividends), $m
  27
  41
  57
  78
  102
  132
  166
  203
  245
  289
  335
  383
  432
  481
  531
  579
  627
  674
  719
  764
  808
  851
  893
  934
  976
  1,018
  1,060
  1,103
  1,147
  1,192
Retained Cash Flow (-), $m
  -425
  -607
  -897
  -1,292
  -1,813
  -2,483
  -3,325
  -4,358
  -5,600
  -7,067
  -8,769
  -10,715
  -12,909
  -15,354
  -18,048
  -20,990
  -24,174
  -27,595
  -31,249
  -35,129
  -39,230
  -43,549
  -48,081
  -52,826
  -57,781
  -62,949
  -68,330
  -73,929
  -79,750
  -85,801
Prev. year cash balance distribution, $m
  47
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  4
  6
  10
  15
  22
  31
  42
  57
  74
  96
  121
  150
  184
  221
  263
  310
  360
  415
  474
  537
  603
  674
  748
  826
  908
  993
  1,082
  1,174
  1,271
  1,371
Cash available for distribution, $m
  -351
  -567
  -840
  -1,214
  -1,710
  -2,351
  -3,159
  -4,155
  -5,356
  -6,778
  -8,434
  -10,332
  -12,477
  -14,873
  -17,518
  -20,410
  -23,547
  -26,921
  -30,529
  -34,365
  -38,422
  -42,698
  -47,189
  -51,892
  -56,805
  -61,931
  -67,270
  -72,826
  -78,604
  -84,609
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -336
  -519
  -731
  -1,000
  -1,326
  -1,706
  -2,134
  -2,597
  -3,077
  -3,554
  -4,005
  -4,409
  -4,744
  -4,993
  -5,143
  -5,187
  -5,123
  -4,958
  -4,701
  -4,367
  -3,974
  -3,543
  -3,093
  -2,643
  -2,210
  -1,807
  -1,444
  -1,127
  -858
  -637
Current shareholders' claim on cash, %
  50.0
  1.8
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Conatus Pharmaceuticals Inc. is a biotechnology company. The Company focuses on the development and commercialization of medicines to treat liver disease. The Company operates through commercialization and development of pharmaceutical products segment. The Company is engaged in developing emricasan, which is an orally active pan-caspase protease inhibitor for the treatment of patients with chronic liver disease. Emricasan has the potential to interrupt the progression of liver disease and provide treatment options in multiple areas of liver disease. Emricasan is designed to slow or halt the progression of chronic liver disease caused by fibrosis and cirrhosis. Emricasan works by inhibiting caspases, which are a family of related enzymes that plays as modulators of critical cellular functions, including functions that result in apoptosis and inflammation.

FINANCIAL RATIOS  of  Conatus Pharmaceuticals (CNAT)

Valuation Ratios
P/E Ratio -3.4
Price to Sales 103.2
Price to Book 4.7
Price to Tangible Book
Price to Cash Flow 3.8
Price to Free Cash Flow 3.8
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 77
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 4.5%
Interest Coverage 0
Management Effectiveness
Return On Assets -49.2%
Ret/ On Assets - 3 Yr. Avg. -52.3%
Return On Total Capital -101.7%
Ret/ On T. Cap. - 3 Yr. Avg. -73.4%
Return On Equity -105.3%
Return On Equity - 3 Yr. Avg. -75.7%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -3000%
EBITDA Margin - 3 Yr. Avg. -1000%
Operating Margin -3000%
Oper. Margin - 3 Yr. Avg. -1000%
Pre-Tax Margin -3000%
Pre-Tax Margin - 3 Yr. Avg. -1000%
Net Profit Margin -3000%
Net Profit Margin - 3 Yr. Avg. -1000%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

CNAT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CNAT stock intrinsic value calculation we used $35 million for the last fiscal year's total revenue generated by Conatus Pharmaceuticals. The default revenue input number comes from 2017 income statement of Conatus Pharmaceuticals. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CNAT stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CNAT is calculated based on our internal credit rating of Conatus Pharmaceuticals, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Conatus Pharmaceuticals.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CNAT stock the variable cost ratio is equal to 766%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $26 million in the base year in the intrinsic value calculation for CNAT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.4% for Conatus Pharmaceuticals.

Corporate tax rate of 27% is the nominal tax rate for Conatus Pharmaceuticals. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CNAT stock is equal to 11.6%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CNAT are equal to 0.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Conatus Pharmaceuticals operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CNAT is equal to -33.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $28 million for Conatus Pharmaceuticals - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 29 million for Conatus Pharmaceuticals is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Conatus Pharmaceuticals at the current share price and the inputted number of shares is $0.1 billion.

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COMPANY NEWS

▶ Conatus: 2Q Earnings Snapshot   [07:15PM  Associated Press]
▶ Conatus: 1Q Earnings Snapshot   [May-02-18 06:22PM  Associated Press]
▶ Heres Whats Moving Conatus And Paratek   [08:32AM  Market Exclusive]
▶ Conatus reports 4Q loss   [Mar-07-18 04:35PM  Associated Press]
▶ When Will Conatus Pharmaceuticals Inc (NASDAQ:CNAT) Breakeven?   [Mar-02-18 12:03PM  Simply Wall St.]
▶ Conatus to Present at Stifel Healthcare Conference   [Nov-07-17 07:30AM  GlobeNewswire]
▶ Conatus reports 3Q loss   [Nov-01-17 06:20PM  Associated Press]
▶ Conatus reports 2Q loss   [01:05AM  Associated Press]
▶ Why Conatus Pharma Wins With Newest Licensing Agreement   [Jul-07-17 08:50AM  24/7 Wall St.]
▶ Company News for June 27, 2017   [Jun-27-17 10:52AM  Zacks]
▶ Conatus Announces Proposed Public Offering of Common Stock   [May-10-17 04:01PM  GlobeNewswire]
▶ Conatus reports 1Q loss   [05:02AM  Associated Press]
▶ Conatus to Present at Upcoming Investor Conferences   [Mar-27-17 07:30AM  GlobeNewswire]
▶ Conatus reports 4Q loss   [Mar-15-17 04:46PM  Associated Press]
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