Century Therapeutics, Inc.
IPSCHealthcare|Biotechnology|US
$1.68
+0.17 (+11.26%)
DCF Value
$2.59
Tangible Book / Share
$0.96
Cash / Share
$0.58
Financials
Financial Snapshot
Market Cap
$304.2M
Enterprise Value
$289.2M
Revenue (TTM)
$0.00
Net Income (TTM)
-$109.8M
Cash & Investments
$119.7M
Net Cash
$85.1M
Free Cash Flow (TTM)
-$88.5M
Operating CF (TTM)
-$86.7M
Debt/Equity
0.15
Cash Runway & Burn Rate
Cash on Hand
$119.7M
Quarterly Burn
$21.7M
Monthly Burn
$7.2M
Est. Runway
~5.5 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $81.5M | $75.8M | $222.9M | $315.5M | $172.7M | $189.3M | $117.1M | $119.7M | |
| Operating Cash Flow | -$16.2M | -$41.3M | -$89.0M | $14.1M | -$88.3M | -$110.1M | -$103.9M | -$86.7M | |
| Free Cash Flow | -$18.6M | -$51.1M | -$134.0M | -$16.6M | -$102.1M | -$110.3M | -$104.7M | -$88.5M | |
| Capital Expenditure | -$2.5M | -$9.8M | -$45.0M | -$30.6M | -$13.7M | -$154.0K | -$848.0K | -$1.8M | |
| Financing Cash Flow | $74.8M | $47.7M | $417.8M | $27.2M | -$9.7M | $74.6M | $173.0K | $127.0M |
R&D Spending
R&D (TTM)
$75.9M
R&D Intensity
—
R&D Growth vs Prior
-20.6%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $5.2M | $2.2M | $6.6M | $109.2M | $0.00 | |
| R&D Expense | $14.3M | $39.7M | $75.6M | $97.2M | $92.7M | $107.2M | $95.7M | $75.9M | |
| R&D % of Revenue | — | — | — | 1869.1% | 4148.1% | 1627.6% | 87.6% | — | |
| SG&A | $5.5M | $7.7M | $14.7M | $31.9M | $34.7M | $33.2M | $24.0M | $20.2M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $5.2M | $2.2M | $6.6M | $109.2M | $0.00 | |
| Cost of Revenue | $249.0K | $1.8M | $4.6M | $0.00 | $0.00 | $0.00 | $13.1M | $25.5M | |
| Gross Profit | -$249.0K | -$1.8M | -$4.6M | $5.2M | $2.2M | $6.6M | $96.1M | -$25.5M | |
| R&D | $14.3M | $39.7M | $75.6M | $97.2M | $92.7M | $107.2M | $95.7M | $75.9M | |
| SG&A | $5.5M | $7.7M | $14.7M | $31.9M | $34.7M | $33.2M | $24.0M | $20.2M | |
| Operating Income | -$20.0M | -$49.2M | -$94.9M | -$133.8M | -$146.5M | -$138.1M | -$15.0M | -$118.8M | |
| Interest Expense | $0.00 | $381.0K | $1.3M | $0.00 | $540.0K | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$244.8M | -$53.6M | -$95.8M | -$130.8M | -$134.8M | -$124.8M | -$9.6M | -$109.9M | |
| Net Income | -$244.8M | -$53.6M | -$95.8M | -$130.9M | -$136.7M | -$126.6M | -$9.6M | -$109.8M | |
| EPS (Diluted) | -4.49 | -1.00 | -1.74 | -2.27 | -2.30 | -1.61 | -0.11 | -1.04 | |
| EBITDA | -$244.5M | -$51.8M | -$90.8M | -$121.2M | -$121.2M | -$111.5M | $3.5M | -$92.5M | |
| Shares Out. (M) | 54.82 | 54.82 | 55.01 | 57.76 | 59.31 | 78.65 | 86.56 | 205.78 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $44.1M | $27.2M | $56.4M | $84.3M | $47.3M | $58.4M | $61.9M | $49.6M | |
| Short-Term Investments | $37.5M | $48.5M | $166.4M | $231.2M | $125.4M | $130.9M | $55.3M | $70.1M | |
| Total Current Assets | $84.1M | $78.8M | $228.2M | $319.7M | $177.0M | $194.1M | $120.8M | $124.8M | |
| Total Assets | $90.9M | $106.8M | $437.4M | $486.5M | $360.7M | $353.2M | $223.7M | $287.0M | |
| Total Current Liabilities | $3.0M | $12.1M | $15.7M | $29.8M | $17.8M | $129.8M | $20.2M | $15.1M | |
| Long-Term Debt | $0.00 | $9.6M | $8.9M | $3.7M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $182.8M | $213.2M | $41.1M | $183.8M | $175.9M | $191.9M | $64.8M | $54.7M | |
| Stockholders' Equity | -$91.9M | -$106.4M | $396.2M | $302.7M | $184.8M | $161.4M | $158.9M | $232.3M | |
| Retained Earnings | -$238.8M | -$292.3M | -$388.2M | -$519.1M | -$655.8M | -$782.3M | -$791.9M | -$848.1M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$16.2M | -$41.3M | -$89.0M | $14.1M | -$88.3M | -$110.1M | -$103.9M | -$86.7M | |
| Capital Expenditure | -$2.5M | -$9.8M | -$45.0M | -$30.6M | -$13.7M | -$154.0K | -$848.0K | -$1.8M | |
| Free Cash Flow | -$18.6M | -$51.1M | -$134.0M | -$16.6M | -$102.1M | -$110.3M | -$104.7M | -$88.5M | |
| Investing Cash Flow | -$19.8M | -$22.8M | -$298.3M | -$13.1M | $61.1M | $47.5M | $107.5M | -$47.8M | |
| Financing Cash Flow | $74.8M | $47.7M | $417.8M | $27.2M | -$9.7M | $74.6M | $173.0K | $127.0M | |
| Issuance of Stock | $74.8M | $0.00 | $221.6M | $27.2M | $516.0K | $74.6M | $173.0K | $804.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $9.7M | $0.00 | $0.00 | -$10.2M | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $147.0K | $876.0K | $4.7M | $10.7M | $14.6M | $12.7M | $6.8M | $5.6M | |
| Net Change in Cash | $38.8M | -$16.3M | $30.4M | $28.1M | -$36.9M | $11.9M | $3.8M | -$7.6M |
Dilution Tracker
Shares outstanding grew 57.9% over 5 years — significant dilution
Shares Outstanding
181M
5-Year Share Growth
+57.9%
Stock Issuance (TTM)
$804.0K
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 54.82 | 54.82 | 55.01 | 57.76 | 59.31 | 78.65 | 86.56 | 205.78 | |
| Change vs Prior % | — | 0.0% | 0.3% | 5.0% | 2.7% | 32.6% | 10.1% | 137.7% | |
| Stock Issuance | $74.8M | $0.00 | $221.6M | $27.2M | $516.0K | $74.6M | $173.0K | $804.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $147.0K | $876.0K | $4.7M | $10.7M | $14.6M | $12.7M | $6.8M | $5.6M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | — | 100.0% | 100.0% | 100.0% | 88.0% | — | |
| Operating Margin % | — | — | — | -2574.2% | -6556.9% | -2096.5% | -13.8% | — | |
| Net Margin % | — | — | — | -2518.4% | -6115.1% | -1920.9% | -8.8% | — | |
| EBITDA Margin % | — | — | — | -2331.2% | -5423.2% | -1691.8% | 3.2% | — | |
| FCF Margin % | — | — | — | -318.4% | -4567.5% | -1673.8% | -95.9% | — | |
| ROE % | 266.5% | 50.3% | -24.2% | -43.2% | -74.0% | -78.4% | -6.0% | -52.8% | |
| ROA % | -269.3% | -50.2% | -21.9% | -26.9% | -37.9% | -35.8% | -4.3% | -38.3% | |
| ROIC % | -22.8% | -51.8% | -22.4% | -28.9% | -42.6% | -60.5% | -7.2% | -43.7% | |
| R&D / Revenue % | — | — | — | 1869.1% | 4148.1% | 1627.6% | 87.6% | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | -57.0% | 194.8% | 1556.8% | |
| Gross Profit | 0.0% | -604.4% | -161.2% | 213.5% | -57.0% | 194.8% | 1357.9% | |
| Operating Income | 0.0% | -145.5% | -92.9% | -41.0% | -9.5% | 5.7% | 89.1% | |
| Net Income | 0.0% | 78.1% | -78.9% | -36.6% | -4.4% | 7.4% | 92.4% | |
| EPS (Diluted) | 0.0% | 77.7% | -74.0% | -30.5% | -1.3% | 30.0% | 93.2% | |
| Operating Cash Flow | 0.0% | -155.3% | -115.7% | 115.8% | -728.7% | -24.7% | 5.7% | |
| Free Cash Flow | 0.0% | -174.3% | -162.2% | 87.6% | -516.7% | -8.0% | 5.0% | |
| R&D Expense | 0.0% | 178.2% | 90.6% | 28.5% | -4.6% | 15.7% | -10.8% | |
| SG&A Expense | 0.0% | 40.3% | 89.3% | 117.4% | 8.9% | -4.5% | -27.6% | |
| Total Assets | 0.0% | 17.5% | 309.6% | 11.2% | -25.9% | -2.1% | -36.7% | |
| Book Value / Share | 0.0% | -15.8% | 471.1% | -27.2% | -40.6% | -34.1% | -10.5% | |
| Debt | 0.0% | 0.0% | 16.5% | 96.7% | -2.5% | 11.7% | -19.1% | |
| Diluted Shares | 0.0% | 0.0% | 0.3% | 5.0% | 2.7% | 32.6% | 10.1% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High0.79 / 56.99 / 88.11
P/B1.49
10Y Low / Med / High0.49 / 0.98 / 2.20
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High0.62 / 50.29 / 88.49
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$2.59
Tangible Book / Share
$0.96
Net Current Assets / Share
$0.39
Graham Net-Net
$0.32
Cash / Share
$0.58
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -5.08 | -22.83 | -9.11 | -2.26 | -1.44 | -0.63 | -9.04 | -1.62 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 56.99 | 88.11 | 12.06 | 0.79 | 0.00 | |
| P/B Ratio | -13.63 | -11.76 | 2.20 | 0.98 | 1.07 | 0.49 | 0.54 | 1.49 | |
| EV/EBITDA | -4.94 | -24.06 | -9.27 | -2.16 | -1.63 | -0.67 | 19.64 | -3.13 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 50.29 | 88.49 | 11.36 | 0.62 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-1.54
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $4.7M | $3.7M | $1.2M |
| Net Income | -$44.9M | -$38.8M | -$31.2M |
| EPS | $-0.52 | $-0.45 | $-0.36 |
| # Analysts (EPS) | 3 | 3 | 2 |