Maxygen, (FRA:MYN) Accounts Receivable : €0.00 Mil (As of Mar. 2013)

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What is Maxygen, Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Maxygen,'s accounts receivables for the quarter that ended in Mar. 2013 was €0.00 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Maxygen,'s Days Sales Outstanding for the quarter that ended in Mar. 2013 was 0.00.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Maxygen,'s Net-Net Working Capital per share for the quarter that ended in Mar. 2013 was €2.19.

Maxygen, Accounts Receivable Historical Data

The historical data trend for Maxygen,'s Accounts Receivable 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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Maxygen, Accounts Receivable Chart

Maxygen, Annual Data

Trend

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Accounts Receivable

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Maxygen, Quarterly Data
	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13
Accounts Receivable	Get a 7-Day Free Trial															-	-	-	-	-

Maxygen, Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Maxygen, Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Maxygen,'s Days Sales Outstanding for the quarter that ended in Mar. 2013 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	0	/	0.002	*	91
=	0.00

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Maxygen,'s accounts receivable are only considered to be worth 75% of book value:

Maxygen,'s Net-Net Working Capital Per Share for the quarter that ended in Mar. 2013 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(62.637	+	0.75 * 0	+	0.5 * 0	-	2.253
-	0	-	0)	/	27.517
=	2.19

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Maxygen, Accounts Receivable Related Terms

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Maxygen, (FRA:MYN) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Maxygen, Inc. (FRA:MYN) » Definitions » Accounts Receivable

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Maxygen, Inc., is incorporated in Delaware. It is a biotechnology company. It discovers and develops improved next-generation protein pharmaceuticals for the treatment of disease and serious medical conditions. The Company's MAXY-G34 product candidate has been designed to be an improved next-generation pegylated, G-CSF for the treatment of chemotherapy-induced neutropenia. G-CSF is a natural protein that functions by stimulating the body's bone marrow to produce more white blood cells. The Company completed a Phase IIa clinical trial for its MAXY-G34 product candidate for the treatment of chemotherapy-induced neutropenia in breast cancer patients in which MAXY-G34 was safe and effective in reducing chemotherapy-induced neutropenia with no serious adverse events, drug-related grade 3 or 4 adverse events or immunogenicity reported in any patient receiving MAXY-G34. Adverse events were consistent with known side effects of G-CSF molecules. The Company is subject to regulation by the FDA and comparable regulatory agencies in foreign countries with respect to any development and commercialization of its MAXY-G34 product candidate or any other products it may acquire in the future.