Free tool
Cash against trailing operating burn, in months, with the date the cash runs out and the urgency band the scoring rubric would assign. The engine computes this for all 674 issuers nightly from XBRL, and flags the figure when the underlying balance sheet is too old to trust.
CashAndCashEquivalentsAtCarryingValue.Straight-line arithmetic, and burn is not straight-line. A clinical-stage issuer's spend steps up around a trial and down after it. Financing inflows, one-time items and working capital swings all move the real date. This is the same figure the rubric scores, and the rubric treats it as one component of six for exactly that reason.
The detail most screens get wrong
The arithmetic above works on whatever cash figure you feed it. The hard part in production is knowing when not to trust the input. One issuer in an early version of this engine ranked in the top ten on a runway of 0.9 months computed from cash dated 1,336 days earlier. The arithmetic was right and the answer was worthless.
So the engine refuses to score runway urgency once the underlying cash figure is more than
270 days old, prints n/a rather than a number, and states the reason. A silently
missing component looks like a bug. A printed zero with its reason is an audit trail.
The brief is the email subscribers receive at 5:00 AM US Eastern Time: a ranked list of small public companies likely to raise capital soon, with a one-page summary on each. Tell us what you invest in and we will email you one sample, free. A person follows up the same day.