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We are a pharmaceutical company developing a pipeline of proprietary small molecule drug candidates that are preferential signaling ligands of the endogenous CB1 and CB2 receptors as well as other receptor targets linked to human disease. CB1 and CB2 receptors are each part of the endocannabinoid system that is found throughout the human body and is responsible for many homeostatic functions.
The business is unprofitable at the operating level (-155.89% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 7.5%, steady but not accelerating.
Negative free cash flow of -$8M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (FY)
$5M
▲ +7.5% YoY
Net Income (TTM)
-$9M
▼ -6.3% YoY
Op. Margin
-155.89%
▲ +16.3pp YoY
ROIC
-50.01%
▲ +5.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$7M
▼ -11.0% YoY
Op. Cash Flow (TTM)
-$7M
▼ -11.2% YoY
Net Debt
-$5M
Net Cash Position
Cash & Equiv.
$5M
3Y CAGR: +65.5%
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