NovaBridge Biosciences
NBPHealthcare|Biotechnology|US
$0.91
+0.00 (+0.15%)
DCF Value
$0.11
Tangible Book / Share
$1.74
Cash / Share
$1.65
Financials
Financial Snapshot
Market Cap
$104.8M
Enterprise Value
-$81.3M
Revenue (TTM)
$0.00
Net Income (TTM)
-$49.0M
Cash & Investments
$190.8M
Net Cash
$186.4M
Free Cash Flow (TTM)
-$35.3M
Operating CF (TTM)
-$34.3M
Debt/Equity
0.02
Cash Runway & Burn Rate
Cash on Hand
$190.8M
Quarterly Burn
$8.6M
Monthly Burn
$2.9M
Est. Runway
~22.3 quarters
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $574.2M | $1.84B | $1.17B | $4.79B | $671.0M | $3.45B | $311.7M | $1.27B | $30.1M | $190.8M | |
| Operating Cash Flow | -$252.2M | -$280.7M | -$868.0M | $433.6M | -$973.1M | -$1.10B | -$72.9M | -$384.4M | -$20.6M | -$34.3M | |
| Free Cash Flow | -$272.5M | -$295.1M | -$880.2M | $425.6M | -$1.00B | -$1.15B | -$73.0M | -$384.8M | -$20.6M | -$35.3M | |
| Capital Expenditure | -$20.3M | -$14.4M | -$12.2M | -$8.0M | -$29.9M | -$45.8M | -$164.4K | -$350.3K | -$7.0K | -$987.8K | |
| Financing Cash Flow | $758.6M | $1.48B | $152.7M | $3.44B | $593.9M | $42.4M | -$8.3M | -$2.4M | $57.7M | $431.1M |
R&D Spending
R&D (TTM)
$25.4M
R&D Intensity
—
R&D Growth vs Prior
+182.8%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.3M | $53.8M | $30.0M | $1.54B | $88.0M | -$10.7M | $4.5M | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $267.1M | $426.0M | $840.4M | $984.7M | $190.3M | $155.5M | $114.4M | $158.9M | $9.0M | $25.4M | |
| R&D % of Revenue | 2370.8% | 792.2% | 2801.4% | 63.8% | 216.2% | -1453.7% | 2549.4% | — | — | — | |
| SG&A | $25.4M | $66.4M | $654.6M | $402.4M | $899.9M | $199.9M | $63.9M | $216.5M | $4.5M | $34.6M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.3M | $53.8M | $30.0M | $1.54B | $88.0M | -$10.7M | $4.5M | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $46.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $11.6M | $53.8M | $30.0M | $1.54B | $41.6M | -$10.7M | $4.5M | $0.00 | $0.00 | $0.00 | |
| R&D | $267.1M | $426.0M | $840.4M | $984.7M | $190.3M | $155.5M | $114.4M | $158.9M | $9.0M | $25.4M | |
| SG&A | $25.4M | $66.4M | $654.6M | $402.4M | $899.9M | $199.9M | $63.9M | $216.5M | $4.5M | $34.6M | |
| Operating Income | -$273.9M | -$455.7M | -$1.46B | $155.6M | -$2.07B | -$366.1M | -$511.2M | -$375.4M | -$13.5M | -$60.1M | |
| Interest Expense | $864.3K | $1.7M | $427.5K | $146.5K | $0.00 | $0.00 | $101.9K | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$290.7M | -$416.8M | -$1.45B | $483.1M | -$2.33B | -$973.2M | -$1.47B | -$362.7M | -$12.6M | -$55.0M | |
| Net Income | -$298.2M | -$402.8M | -$1.45B | $470.9M | -$2.33B | -$967.5M | -$1.47B | -$162.3M | -$6.6M | -$49.0M | |
| EPS (Diluted) | -5.13 | -6.92 | -25.53 | 6.90 | -30.68 | -30.38 | -17.62 | -4.46 | -0.16 | -0.57 | |
| EBITDA | -$279.3M | -$431.9M | -$192.1M | $178.5M | -$2.04B | -$356.6M | -$339.9M | -$368.3M | -$12.6M | -$55.3M | |
| Shares Out. (M) | 58.17 | 58.17 | 58.17 | 68.36 | 75.96 | 82.52 | 83.23 | 81.19 | 41.64 | 115.72 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $307.9M | $1.59B | $1.14B | $4.76B | $552.8M | $3.21B | $291.5M | $498.2M | $30.1M | $190.6M | |
| Short-Term Investments | $266.2M | $256.0M | $32.0M | $31.5M | $118.2M | $235.4M | $20.2M | $767.4M | $30.0K | $210.0K | |
| Total Current Assets | $691.6M | $2.04B | $1.36B | $5.34B | $750.2M | $3.63B | $329.9M | $1.29B | $31.1M | $198.0M | |
| Total Assets | $1.03B | $2.38B | $1.74B | $6.33B | $878.7M | $4.07B | $368.9M | $1.55B | $37.2M | $231.5M | |
| Total Current Liabilities | $195.1M | $346.2M | $588.5M | $576.1M | $97.9M | $659.7M | $58.1M | $61.7M | $3.8M | $25.9M | |
| Long-Term Debt | $114.0M | $67.0M | $68.2M | $5.5M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $1.33B | $3.33B | $3.77B | $712.2M | $163.4M | $1.07B | $126.3M | $84.1M | $4.2M | $30.4M | |
| Stockholders' Equity | $410.5M | -$955.1M | $1.07B | $5.63B | $715.3M | $3.01B | $242.6M | $1.47B | $33.0M | $201.1M | |
| Retained Earnings | -$357.9M | -$1.01B | -$2.49B | -$2.02B | -$683.2M | -$6.77B | -$1.26B | -$9.39B | -$190.5M | -$1.37B |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$252.2M | -$280.7M | -$868.0M | $433.6M | -$973.1M | -$1.10B | -$72.9M | -$384.4M | -$20.6M | -$34.3M | |
| Capital Expenditure | -$20.3M | -$14.4M | -$12.2M | -$8.0M | -$29.9M | -$45.8M | -$164.4K | -$350.3K | -$7.0K | -$987.8K | |
| Free Cash Flow | -$272.5M | -$295.1M | -$880.2M | $425.6M | -$1.00B | -$1.15B | -$73.0M | -$384.8M | -$20.6M | -$35.3M | |
| Investing Cash Flow | -$157.7M | $9.5M | $212.5M | -$201.9M | -$727.2M | $458.4M | -$107.6M | -$992.4M | $105.0M | $11.9M | |
| Financing Cash Flow | $758.6M | $1.48B | $152.7M | $3.44B | $593.9M | $42.4M | -$8.3M | -$2.4M | $57.7M | $431.1M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $543.5M | $0.00 | $0.00 | $0.00 | $0.00 | $61.9M | $502.0M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | -$5.3M | $0.00 | -$3.1M | -$8.7M | -$2.4M | $0.00 | $0.00 | |
| Net Debt Issuance | $542.8M | $59.7M | $153.1M | -$7.7M | $0.00 | $2.7M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $7.0M | $3.5M | $366.9M | $493.5M | $608.6M | $357.1M | $10.3M | -$14.2M | $6.0M | $21.1M | |
| Net Change in Cash | $348.6M | $1.27B | -$487.6M | $3.57B | -$1.24B | -$212.9M | -$151.6M | -$1.71B | $142.4M | $215.3M |
Dilution Tracker
Shares Outstanding
50M
5-Year Share Growth
-39.1%
Stock Issuance (TTM)
$502.0M
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 58.17 | 58.17 | 58.17 | 68.36 | 75.96 | 82.52 | 83.23 | 81.19 | 41.64 | 115.72 | |
| Change vs Prior % | — | 0.0% | 0.0% | 17.5% | 11.1% | 8.6% | 0.9% | -2.5% | -48.7% | 177.9% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $543.5M | $0.00 | $0.00 | $0.00 | $0.00 | $61.9M | $502.0M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | -$5.3M | $0.00 | -$3.1M | -$8.7M | -$2.4M | $0.00 | $0.00 | |
| Stock Based Comp. | $7.0M | $3.5M | $366.9M | $493.5M | $608.6M | $357.1M | $10.3M | -$14.2M | $6.0M | $21.1M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 102.6% | 100.0% | 100.0% | 100.0% | 47.3% | 100.0% | 100.0% | — | — | — | |
| Operating Margin % | -2431.2% | -847.4% | -4883.2% | 10.1% | -2353.1% | 3422.2% | -11395.1% | — | — | — | |
| Net Margin % | -2647.4% | -749.0% | -4826.8% | 30.5% | -2648.7% | 9044.6% | -32674.0% | — | — | — | |
| EBITDA Margin % | -2479.5% | -803.1% | -640.2% | 11.6% | -2317.1% | 3333.5% | -7578.0% | — | — | — | |
| FCF Margin % | -2418.8% | -548.7% | -2934.1% | 27.6% | -1139.5% | 10737.7% | -1627.8% | — | — | — | |
| ROE % | -72.7% | 42.2% | -135.4% | 8.4% | -325.9% | -32.2% | -604.2% | -11.1% | -20.0% | -1.4% | |
| ROA % | -29.1% | -17.0% | -83.3% | 7.4% | -265.3% | -23.8% | -397.3% | -10.5% | -17.8% | -21.2% | |
| ROIC % | -29.5% | -21.6% | -121.5% | 2.6% | -263.6% | -10.6% | -23.2% | -25.1% | -40.2% | -29.0% | |
| R&D / Revenue % | 2370.8% | 792.2% | 2801.4% | 63.8% | 216.2% | -1453.7% | 2549.4% | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 377.4% | -44.2% | 5042.2% | -94.3% | -112.2% | 141.9% | -100.0% | 0.0% | |
| Gross Profit | 0.0% | 365.4% | -44.2% | 5042.2% | -97.3% | -125.7% | 141.9% | -100.0% | 0.0% | |
| Operating Income | 0.0% | -66.4% | -221.4% | 110.6% | -1431.4% | 82.3% | -39.6% | 26.6% | 96.4% | |
| Net Income | 0.0% | -35.1% | -259.5% | 132.5% | -595.1% | 58.5% | -51.5% | 88.9% | 95.9% | |
| EPS (Diluted) | 0.0% | -35.0% | -268.8% | 127.0% | -544.7% | 1.0% | 42.0% | 74.7% | 96.5% | |
| Operating Cash Flow | 0.0% | -11.3% | -209.2% | 150.0% | -324.4% | -13.3% | 93.4% | -427.7% | 94.6% | |
| Free Cash Flow | 0.0% | -8.3% | -198.3% | 148.3% | -335.7% | -14.5% | 93.6% | -427.0% | 94.6% | |
| R&D Expense | 0.0% | 59.5% | 97.3% | 17.2% | -80.7% | -18.3% | -26.5% | 38.9% | -94.3% | |
| SG&A Expense | 0.0% | 161.0% | 885.9% | -38.5% | 123.6% | -77.8% | -68.0% | 238.7% | -97.9% | |
| Total Assets | 0.0% | 131.7% | -26.9% | 264.5% | -86.1% | 363.6% | -90.9% | 320.8% | -97.6% | |
| Book Value / Share | 0.0% | -218.6% | -113.0% | 335.5% | -88.6% | 287.0% | -92.0% | 520.2% | -95.6% | |
| Debt | 0.0% | -31.0% | -9.9% | -85.6% | -7.8% | 117.0% | -89.8% | 628.9% | -98.5% | |
| Diluted Shares | 0.0% | 0.0% | 0.0% | 17.5% | 11.1% | 8.6% | 0.9% | -2.5% | -48.7% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High13.61 / 250.09 / 419.96
P/B0.52
10Y Low / Med / High0.34 / 4.73 / 31.95
EV/EBITDA1.47
EV/Revenue0.00
10Y Low / Med / High10.54 / 135.24 / 411.53
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.11
Tangible Book / Share
$1.74
Net Current Assets / Share
$3.34
Graham Net-Net
$1.42
Cash / Share
$1.65
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -15.86 | -12.41 | -3.41 | 38.11 | -9.80 | -0.95 | -0.77 | -1.39 | -25.22 | -1.59 | |
| P/S Ratio | 419.96 | 92.96 | 168.74 | 13.61 | 259.67 | -222.39 | 250.09 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 11.53 | -5.23 | 4.73 | 3.73 | 31.95 | 0.79 | 4.62 | 0.34 | 5.02 | 0.52 | |
| EV/EBITDA | -16.60 | -8.24 | -21.12 | 91.06 | -10.94 | 2.23 | -2.45 | -0.09 | -10.78 | 1.47 | |
| EV/Revenue | 411.53 | 66.16 | 135.24 | 10.54 | 253.59 | 74.48 | 185.97 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
5.52
Safe
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $97.9M |
| Net Income | -$142.9M | -$174.0M | -$163.8M |
| EPS | $-3.46 | $-4.18 | $-3.93 |
| # Analysts (EPS) | 1 | 1 | 1 |
Revenue Segments
By Product
| Segment | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Grant | $10.0M | — | — | — |
| Licensing and Collaboration | — | $40.1M | -$249.7M | $16.8M |
| Supply Of Investigational Products | — | $47.9M | $28.1M | $10.8M |