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We are a biotechnology company focused on developing personalized immune therapies for cancer. We have developed a platform technology, DCVax , which uses activated dendritic cells to mobilize a patient s own immune system to attack their cancer.
The business is unprofitable at the operating level (-4347.90% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 0.3% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$46M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1M
▼ -0.3% YoY
Net Income (TTM)
-$44M
▲ +28.2% YoY
Op. Margin
-3574.01%
▲ +464.6pp YoY
ROIC
-51.75%
▲ +19.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$49M
▲ +20.3% YoY
Op. Cash Flow (TTM)
-$48M
▲ +21.5% YoY
Net Debt
$74M
Cash & Equiv.
$2M
5Y CAGR: +1.3%
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