Serina Therapeutics, Inc.
SERHealthcare|Biotechnology|US
$1.38
-0.27 (-16.36%)
DCF Value
$0.10
Tangible Book / Share
$1.14
Cash / Share
$1.41
Financials
Financial Snapshot
Market Cap
$20.7M
Enterprise Value
$881.5K
Revenue (TTM)
$0.00
Net Income (TTM)
-$21.2M
Cash & Investments
$23.0M
Net Cash
$19.8M
Free Cash Flow (TTM)
-$21.2M
Operating CF (TTM)
-$21.1M
Debt/Equity
0.17
Cash Runway & Burn Rate
Cash on Hand
$23.0M
Quarterly Burn
$5.3M
Monthly Burn
$1.8M
Est. Runway
~4.4 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $259.0K | $7.4M | $6.7M | $2.4M | $527.0K | $584.0K | $645.0K | $7.6M | $3.7M | $3.1M | $23.0M | |
| Operating Cash Flow | -$8.4M | -$6.3M | -$8.0M | -$10.2M | -$7.8M | -$2.3M | -$2.1M | -$2.5M | -$17.1M | -$18.0M | -$21.1M | |
| Free Cash Flow | -$8.4M | -$6.3M | -$9.9M | -$10.8M | -$7.8M | -$2.4M | -$2.1M | -$3.0M | -$17.2M | -$18.0M | -$21.2M | |
| Capital Expenditure | -$23.0K | -$1.0K | -$1.9M | -$641.0K | -$20.0K | -$108.4K | -$9.7K | -$504.0K | -$22.0K | -$59.0K | -$66.0K | |
| Financing Cash Flow | $7.3M | $13.3M | $6.0M | $6.3M | $6.0M | $1.1M | $1.3M | $10.1M | $13.2M | $17.4M | $38.2M |
R&D Spending
R&D (TTM)
$14.1M
R&D Intensity
—
R&D Growth vs Prior
+6.9%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7M | $1.4M | $1.4M | $1.7M | $54.0K | $3.5M | $500.0K | $3.2M | $56.0K | $0.00 | $0.00 | |
| R&D Expense | $7.9M | $5.3M | $5.4M | $5.3M | $3.6M | $3.8M | $1.6M | $2.4M | $7.5M | $13.2M | $14.1M | |
| R&D % of Revenue | 472.5% | 375.1% | 383.5% | 309.4% | 6633.3% | 109.6% | 314.6% | 75.7% | 13357.1% | — | — | |
| SG&A | $5.6M | $3.9M | $5.6M | $7.9M | $5.6M | $1.3M | $1.3M | $3.9M | $9.4M | $11.0M | $11.6M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7M | $1.4M | $1.4M | $1.7M | $54.0K | $3.5M | $500.0K | $3.2M | $56.0K | $0.00 | $0.00 | |
| Cost of Revenue | $911.0K | $685.0K | $841.0K | $998.5K | $1.3M | $3.8M | $0.00 | $90.0K | $194.0K | $0.00 | $7.1M | |
| Gross Profit | $755.0K | $719.0K | $555.0K | $729.5K | -$1.2M | -$333.8K | $500.0K | $3.1M | -$138.0K | $0.00 | -$7.1M | |
| R&D | $7.9M | $5.3M | $5.4M | $5.3M | $3.6M | $3.8M | $1.6M | $2.4M | $7.5M | $13.2M | $14.1M | |
| SG&A | $5.6M | $3.9M | $5.6M | $7.9M | $5.6M | $1.3M | $1.3M | $3.9M | $9.4M | $11.0M | $11.6M | |
| Operating Income | -$12.7M | -$8.4M | -$10.4M | -$12.6M | -$10.4M | -$1.6M | -$2.3M | -$3.1M | -$17.0M | -$24.0M | -$25.7M | |
| Interest Expense | $25.0K | $12.0K | $0.00 | $0.00 | $404.0K | $3.1K | $15.9K | $558.0K | $526.0K | $213.0K | $218.0K | |
| Pretax Income | -$17.4M | -$6.6M | -$7.7M | -$12.2M | -$10.4M | -$1.3M | -$2.7M | $5.3M | -$11.2M | -$19.2M | -$21.2M | |
| Net Income | -$15.5M | -$6.6M | -$7.5M | -$12.2M | -$10.9M | -$1.3M | -$2.7M | $5.3M | -$11.1M | -$19.2M | -$21.2M | |
| EPS (Diluted) | -15.21 | -6.46 | -7.56 | -11.47 | -10.14 | -0.59 | -2.49 | 0.63 | -1.51 | -1.91 | -1.88 | |
| EBITDA | -$11.9M | -$7.7M | -$7.2M | -$11.3M | -$8.7M | -$1.2M | -$2.6M | $5.9M | -$10.5M | -$18.9M | -$22.1M | |
| Shares Out. (M) | 1.02 | 1.02 | 0.99 | 1.06 | 1.07 | 1.08 | 1.08 | 8.41 | 7.36 | 10.19 | 16.38 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $259.0K | $7.4M | $6.7M | $2.4M | $527.0K | $584.0K | $645.0K | $7.6M | $3.7M | $3.1M | $23.0M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $688.0K | $7.6M | $7.9M | $4.1M | $2.3M | $2.2M | $2.5M | $7.6M | $5.7M | $6.1M | $25.0M | |
| Total Assets | $3.2M | $9.6M | $10.7M | $7.4M | $3.9M | $3.2M | $3.2M | $9.0M | $6.7M | $7.0M | $25.8M | |
| Total Current Liabilities | $25.6M | $1.3M | $2.4M | $3.3M | $5.4M | $9.0M | $10.1M | $1.4M | $2.4M | $3.6M | $3.8M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $1.5M | $3.9M | $6.1M | $10.5M | $3.0M | $0.00 | $196.0K | $3.1M | |
| Total Liabilities | $25.6M | $1.3M | $2.4M | $4.8M | $9.3M | $15.0M | $20.6M | $41.3M | $6.2M | $7.0M | $7.1M | |
| Stockholders' Equity | -$23.4M | $7.3M | $7.4M | $2.2M | -$5.1M | -$11.8M | -$17.2M | -$32.3M | $641.0K | -$37.0K | $18.7M | |
| Retained Earnings | -$60.0M | -$66.6M | -$74.1M | -$86.2M | -$97.1M | -$105.7M | -$116.2M | -$33.2M | -$44.3M | -$63.5M | -$76.8M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.4M | -$6.3M | -$8.0M | -$10.2M | -$7.8M | -$2.3M | -$2.1M | -$2.5M | -$17.1M | -$18.0M | -$21.1M | |
| Capital Expenditure | -$23.0K | -$1.0K | -$1.9M | -$641.0K | -$20.0K | -$108.4K | -$9.7K | -$504.0K | -$22.0K | -$59.0K | -$66.0K | |
| Free Cash Flow | -$8.4M | -$6.3M | -$9.9M | -$10.8M | -$7.8M | -$2.4M | -$2.1M | -$3.0M | -$17.2M | -$18.0M | -$21.2M | |
| Investing Cash Flow | -$28.0K | $5.0K | $1.3M | -$361.0K | -$20.0K | $823.3K | $980.9K | -$504.0K | -$22.0K | -$59.0K | -$66.0K | |
| Financing Cash Flow | $7.3M | $13.3M | $6.0M | $6.3M | $6.0M | $1.1M | $1.3M | $10.1M | $13.2M | $17.4M | $38.2M | |
| Issuance of Stock | $2.4M | $12.0M | $6.0M | $4.5M | $0.00 | $0.00 | $4.4K | $15.0K | $5.0M | $12.5M | $33.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $1.8M | $6.0M | -$12.9K | $1.3M | $10.1M | $2.9M | $4.9M | $4.9M | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $82.9K | $7.1K | $25.0K | $2.6M | $3.8M | $3.1M | |
| Net Change in Cash | -$1.2M | $7.1M | -$668.0K | -$4.4M | -$1.8M | -$350.2K | $217.4K | $7.1M | -$3.9M | -$616.0K | $17.0M |
Dilution Tracker
Shares outstanding grew 851.4% over 5 years — significant dilution
Shares Outstanding
15M
5-Year Share Growth
+851.4%
Stock Issuance (TTM)
$33.3M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 1.02 | 1.02 | 0.99 | 1.06 | 1.07 | 1.08 | 1.08 | 8.41 | 7.36 | 10.19 | 16.38 | |
| Change vs Prior % | — | 0.0% | -2.6% | 6.8% | 1.1% | 0.6% | 0.2% | 679.9% | -12.5% | 38.5% | 60.8% | |
| Stock Issuance | $2.4M | $12.0M | $6.0M | $4.5M | $0.00 | $0.00 | $4.4K | $15.0K | $5.0M | $12.5M | $33.3M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $82.9K | $7.1K | $25.0K | $2.6M | $3.8M | $3.1M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 45.3% | 51.2% | 39.8% | 42.2% | -2272.2% | -9.6% | 100.0% | 97.1% | -246.4% | — | — | |
| Operating Margin % | -764.6% | -599.5% | -748.2% | -726.8% | -19272.2% | -47.1% | -454.1% | -99.2% | -30442.9% | — | — | |
| Net Margin % | -929.9% | -468.7% | -537.4% | -703.4% | -20120.4% | -36.5% | -536.4% | 167.1% | -19894.6% | — | — | |
| EBITDA Margin % | -713.9% | -550.9% | -515.5% | -653.1% | -16185.2% | -35.4% | -521.0% | 187.7% | -18726.8% | — | — | |
| FCF Margin % | -507.2% | -447.7% | -708.3% | -625.1% | -14513.0% | -68.1% | -417.1% | -94.5% | -30641.1% | — | — | |
| ROE % | 66.2% | -90.4% | -100.7% | -548.0% | 212.4% | 10.7% | 15.6% | -16.3% | -1738.1% | 51843.2% | -222.4% | |
| ROA % | -480.7% | -68.3% | -70.3% | -163.3% | -276.8% | -40.1% | -82.8% | 58.8% | -165.7% | -276.0% | -82.0% | |
| ROIC % | 56.9% | -101.2% | -126.9% | -274.6% | -1079.6% | -122.9% | -280.6% | -41.4% | -391.2% | -709.0% | -116.4% | |
| R&D / Revenue % | 472.5% | 375.1% | 383.5% | 309.4% | 6633.3% | 109.6% | 314.6% | 75.7% | 13357.1% | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | -15.7% | -0.6% | 23.8% | -96.9% | 6316.2% | -85.6% | 530.6% | -98.2% | -100.0% | |
| Gross Profit | 0.0% | -4.8% | -22.8% | 31.4% | -268.2% | 72.8% | 249.8% | 512.6% | -104.5% | 100.0% | |
| Operating Income | 0.0% | 33.9% | -24.1% | -20.2% | 17.1% | 84.3% | -39.2% | -37.8% | -444.8% | -40.9% | |
| Net Income | 0.0% | 57.5% | -14.0% | -62.0% | 10.6% | 88.4% | -112.1% | 296.4% | -311.4% | -72.2% | |
| EPS (Diluted) | 0.0% | 57.5% | -17.0% | -51.7% | 11.6% | 94.2% | -322.0% | 125.3% | -339.7% | -26.5% | |
| Operating Cash Flow | 0.0% | 25.4% | -27.2% | -27.1% | 23.1% | 71.2% | 7.8% | -19.3% | -592.1% | -4.8% | |
| Free Cash Flow | 0.0% | 25.6% | -57.3% | -9.2% | 27.4% | 69.9% | 11.6% | -42.9% | -475.8% | -4.6% | |
| R&D Expense | 0.0% | -33.1% | 1.6% | -0.1% | -33.0% | 6.0% | -58.6% | 51.8% | 213.2% | 75.9% | |
| SG&A Expense | 0.0% | -31.2% | 46.0% | 40.6% | -29.5% | -76.8% | -0.7% | 202.1% | 142.2% | 16.6% | |
| Total Assets | 0.0% | 198.8% | 10.8% | -30.3% | -47.3% | -19.6% | 2.8% | 176.7% | -25.0% | 3.4% | |
| Book Value / Share | 0.0% | 137.2% | 1.5% | -70.2% | -304.0% | -118.8% | -45.6% | 76.1% | 101.8% | -105.3% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | 221.9% | 109.7% | 37.3% | -81.0% | -92.2% | -26.9% | |
| Diluted Shares | 0.0% | 0.0% | -2.6% | 6.8% | 1.1% | 0.6% | 0.2% | 679.9% | -12.5% | 38.5% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High12.10 / 59.19 / 1076.81
P/B1.21
10Y Low / Med / High13.54 / 31.06 / 57.52
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High15.75 / 64.98 / 1183.64
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.10
Tangible Book / Share
$1.14
Net Current Assets / Share
$1.20
Graham Net-Net
$0.97
Cash / Share
$1.41
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -6.36 | -14.98 | -14.13 | -5.67 | -5.35 | -65.98 | -7.92 | 21.83 | -3.32 | -1.00 | -0.73 | |
| P/S Ratio | 59.19 | 70.23 | 75.94 | 39.86 | 1076.81 | 12.10 | 42.53 | 36.69 | 658.37 | 0.00 | 0.00 | |
| P/B Ratio | -4.21 | 13.54 | 14.24 | 31.06 | -11.37 | -3.54 | -1.24 | -3.58 | 57.52 | -526.02 | 1.21 | |
| EV/EBITDA | -8.27 | -11.79 | -13.80 | -6.07 | -7.31 | -44.42 | -14.87 | 18.85 | -3.19 | -0.88 | -0.04 | |
| EV/Revenue | 59.03 | 64.98 | 71.14 | 39.63 | 1183.64 | 15.75 | 77.49 | 35.37 | 597.58 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-4.26
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| Net Income | -$16.1M | -$11.8M | -$10.7M |
| EPS | $-1.58 | $-1.15 | $-1.05 |
| # Analysts (EPS) | 1 | 2 | 1 |
Revenue Segments
By Product
| Segment | 2025 |
|---|---|
| Grant Revenues | $130.0K |