Definium Therapeutics Inc
DFTXHealthcare|Biotechnology|USA
$47.07
-1.37 (-2.83%)
Tangible Book
$2.49
Financials
Financial Snapshot
Market Cap
$6.25B
Enterprise Value
$332.6M
Revenue (TTM)
$0.00
Net Income (TTM)
$-237.5M
Cash & Equivalents
—
Net Cash/Share
$2.41
Free Cash Flow (TTM)
$-144.8M
Operating CF (TTM)
$-144.8M
Debt/Equity
0.15
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$36.2M
Monthly Burn
$12.1M
Est. Runway
—
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $80.1M | $133.5M | $142.1M | $99.7M | $273.7M | $411.6M | $373.4M | |
| Operating Cash Flow | $-23.6M | $-45.8M | $-50.1M | $-64.4M | $-79.1M | $-131.6M | $-144.8M | |
| Free Cash Flow | $-23.6M | $-45.8M | $-50.1M | $-64.4M | $-79.1M | $-131.6M | $-144.8M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $96.7M | $98.8M | $59.1M | $21.8M | $253.2M | $267.3M | $271.6M |
R&D Spending
R&D (TTM)
$135.8M
R&D Intensity
—
R&D Growth YoY
+15.4%
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $18.6M | $34.8M | $36.2M | $52.1M | $65.3M | $117.7M | $135.8M | |
| R&D % of Revenue | — | — | — | — | — | — | — | |
| SG&A | $14.4M | $59.1M | $30.2M | $41.7M | $38.6M | $48.6M | $57.6M |
Income Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $18.6M | $34.8M | $36.2M | $52.1M | $65.3M | $117.7M | $135.8M | |
| SG&A | $14.4M | $59.1M | $30.2M | $41.7M | $38.6M | $48.6M | $57.6M | |
| Operating Income | $-33.0M | $-93.9M | $-66.3M | $-93.9M | $-103.9M | $-166.3M | $-193.4M | |
| Interest Expense | $-164.0K | $-359.0K | $0.00 | $-920.0K | $-2.3M | $-5.5M | $-6.1M | |
| Pretax Income | $-33.9M | $-94.2M | $-56.8M | $-95.7M | $-108.7M | $-183.8M | $-237.5M | |
| Net Income | $-33.9M | $-93.0M | $-56.8M | $-95.7M | $-108.7M | $-183.8M | $-237.5M | |
| EPS (Diluted) | -1.95 | -3.40 | -1.84 | -2.44 | -1.54 | -2.06 | -2.49 | |
| EBITDA | $-33.8M | $-91.2M | $-63.2M | $-91.7M | $-105.9M | $-178.3M | $-231.4M | |
| Shares Out. (M) | 17.75 | 27.38 | 30.86 | 39.16 | 70.46 | 89.33 | 108.79 |
Balance Sheet
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $80.1M | $133.5M | $142.1M | $99.7M | $273.7M | $257.8M | $262.5M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $153.8M | $110.9M | |
| Total Current Assets | $81.5M | $137.2M | $146.1M | $103.9M | $281.6M | $419.3M | $380.6M | |
| Total Assets | $81.5M | $164.0M | $170.0M | $124.5M | $302.2M | $440.1M | $401.3M | |
| Total Current Liabilities | $3.0M | $10.4M | $17.9M | $32.2M | $38.8M | $66.7M | $81.1M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $14.1M | $21.9M | $40.6M | $40.8M | |
| Total Liabilities | $5.7M | $12.3M | $19.1M | $46.4M | $60.7M | $107.8M | $122.4M | |
| Stockholders' Equity | $75.9M | $151.7M | $150.9M | $78.1M | $241.4M | $332.3M | $278.8M | |
| Retained Earnings | $-44.6M | $-137.7M | $-194.5M | $-290.2M | $-398.9M | $-582.7M | $-659.8M |
Cash Flow Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-23.6M | $-45.8M | $-50.1M | $-64.4M | $-79.1M | $-131.6M | $-144.8M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | $-23.6M | $-45.8M | $-50.1M | $-64.4M | $-79.1M | $-131.6M | $-144.8M | |
| Investing Cash Flow | $0.00 | $-297.0K | $0.00 | $0.00 | $0.00 | $-151.6M | $52.9M | |
| Financing Cash Flow | $96.7M | $98.8M | $59.1M | $21.8M | $253.2M | $267.3M | $271.6M | |
| Issuance of Stock | $72.0M | $81.9M | $42.3M | $0.00 | $251.0M | $258.9M | $258.9M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $22.5M | $10.0M | $42.0M | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $-844.0K | $0.00 | $-22.0M | $447.0K | |
| Stock Based Comp. | $7.4M | $42.7M | $13.7M | $15.2M | $16.9M | $20.1M | $23.8M | |
| Net Change in Cash | $73.4M | $53.4M | $8.6M | $-42.4M | $174.0M | $-15.9M | $179.7M |
Dilution Tracker
Shares outstanding grew 297.4% over 5 years — significant dilution
Shares Outstanding
109M
5-Year Share Growth
+297.4%
Stock Issuance (TTM)
$258.9M
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 17.75 | 27.38 | 30.86 | 39.16 | 70.46 | 89.33 | 108.79 | |
| YoY Change % | — | 54.3% | 12.7% | 26.9% | 79.9% | 26.8% | 21.8% | |
| Stock Issuance | $72.0M | $81.9M | $42.3M | $0.00 | $251.0M | $258.9M | $258.9M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $7.4M | $42.7M | $13.7M | $15.2M | $16.9M | $20.1M | $23.8M |
Margins & Profitability
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | -44.7% | -81.8% | -37.5% | -83.6% | -68.0% | -64.1% | -103.3% | |
| ROA % | -41.6% | -75.8% | -34.0% | -65.0% | -50.9% | -49.5% | -73.4% | |
| R&D / Revenue | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical— / — / —
Industry Med.9.49
P/B17.56
Historical— / — / 17.56
Industry Med.2.93
EV/EBITDA-25.56
Historical-25.56 / — / —
Industry Med.13.02
EV/Revenue—
Historical— / — / —
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$2.49
Net Current Assets
$2.480
Net-Net Working Capital
$2.41
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 12.33 | 3.83 | 0.55 | 1.93 | 2.16 | 3.98 | 17.56 | |
| EV/EBITDA | -25.33 | -4.91 | 0.93 | -0.71 | -2.56 | -5.34 | -25.56 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
1
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $44.77M | $223.78M |
| Net Income | $-193.43M | $-175.61M | $-40.69M |
| EPS | -1.74 | -1.53 | -0.27 |
| Book Value per Share | 3.08 | 2.28 | 2.30 |
| Operating Cash Flow per Share | -1.68 | -1.35 | -0.85 |
| Operating CF | $-182.77M | $-146.87M | $-92.47M |