Instil Bio, Inc.
TILHealthcare|Biotechnology|US
$6.83
-0.16 (-2.29%)
Tangible Book / Share
$15.83
Cash / Share
$10.27
Financials
Financial Snapshot
Market Cap
$46.3M
Enterprise Value
$44.4M
Revenue (TTM)
$0.00
Net Income (TTM)
-$30.3M
Cash & Investments
$69.7M
Net Cash
$66.0M
Free Cash Flow (TTM)
-$23.6M
Operating CF (TTM)
-$23.6M
Debt/Equity
0.03
Cash Runway & Burn Rate
Cash on Hand
$69.7M
Quarterly Burn
$5.9M
Monthly Burn
$2.0M
Est. Runway
~11.8 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $8.9M | $241.7M | $454.1M | $260.9M | $150.4M | $113.3M | $76.1M | $69.7M | |
| Operating Cash Flow | -$5.3M | -$29.6M | -$122.1M | -$180.2M | -$82.0M | -$55.7M | -$36.6M | -$23.6M | |
| Free Cash Flow | -$6.1M | -$80.4M | -$180.0M | -$264.8M | -$102.7M | -$65.7M | -$36.6M | -$23.6M | |
| Capital Expenditure | -$760.0K | -$50.8M | -$57.8M | -$84.6M | -$20.7M | -$10.0M | $0.00 | $0.00 | |
| Financing Cash Flow | $14.9M | $313.0M | $393.2M | $71.9M | $8.1M | $1.8M | $7.3M | $378.0K |
R&D Spending
R&D (TTM)
$13.6M
R&D Intensity
—
R&D Growth vs Prior
+35.6%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $138.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $4.0M | $19.4M | $107.3M | $141.1M | $39.6M | $11.8M | $10.0M | $13.6M | |
| R&D % of Revenue | — | 14057.2% | — | — | — | — | — | — | |
| SG&A | $2.6M | $14.4M | $51.3M | $62.2M | $47.6M | $44.2M | $27.2M | $22.4M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $138.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $20.0K | $0.00 | $0.00 | $6.0M | $0.00 | $0.00 | $534.0K | $24.0K | |
| Gross Profit | -$20.0K | $138.0K | $0.00 | -$6.0M | $0.00 | $0.00 | -$534.0K | -$24.0K | |
| R&D | $4.0M | $19.4M | $107.3M | $141.1M | $39.6M | $11.8M | $10.0M | $13.6M | |
| SG&A | $2.6M | $14.4M | $51.3M | $62.2M | $47.6M | $44.2M | $27.2M | $22.4M | |
| Operating Income | -$6.6M | -$33.6M | -$155.6M | -$206.2M | -$159.2M | -$73.5M | -$52.9M | -$36.2M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $1.9M | $5.2M | $9.0M | $5.8M | $5.5M | |
| Pretax Income | -$6.5M | -$37.6M | -$156.8M | -$225.3M | -$156.1M | -$74.1M | -$71.4M | -$30.3M | |
| Net Income | -$6.5M | -$37.7M | -$156.8M | -$223.2M | -$156.1M | -$74.1M | -$71.4M | -$30.3M | |
| EPS (Diluted) | -1.01 | -5.89 | -29.60 | -34.46 | -24.00 | -11.39 | -10.70 | -4.47 | |
| EBITDA | -$6.5M | -$33.4M | -$152.5M | -$217.4M | -$147.1M | -$62.5M | -$65.0M | -$29.6M | |
| Shares Out. (M) | 6.41 | 6.41 | 5.30 | 6.48 | 6.50 | 6.51 | 6.67 | 6.78 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.9M | $241.7M | $37.6M | $43.7M | $9.2M | $8.8M | $6.6M | $5.5M | |
| Short-Term Investments | $0.00 | $0.00 | $416.5M | $217.2M | $141.2M | $104.5M | $69.5M | $64.1M | |
| Total Current Assets | $9.3M | $246.1M | $464.0M | $269.4M | $160.8M | $124.5M | $191.4M | $71.6M | |
| Total Assets | $9.5M | $319.0M | $610.0M | $482.1M | $325.6M | $263.6M | $203.5M | $197.7M | |
| Total Current Liabilities | $1.4M | $13.3M | $41.4M | $32.8M | $10.6M | $7.9M | $4.8M | $3.3M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $72.3M | $81.4M | $84.2M | $84.8M | $1.8M | |
| Total Liabilities | $1.4M | $26.6M | $54.8M | $118.5M | $99.8M | $94.1M | $89.7M | $90.3M | |
| Stockholders' Equity | $8.1M | $292.4M | $555.2M | $363.6M | $225.8M | $169.4M | $113.9M | $107.4M | |
| Retained Earnings | -$7.2M | -$44.9M | -$201.7M | -$424.9M | -$581.0M | -$655.1M | -$726.5M | -$735.0M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.3M | -$29.6M | -$122.1M | -$180.2M | -$82.0M | -$55.7M | -$36.6M | -$23.6M | |
| Capital Expenditure | -$760.0K | -$50.8M | -$57.8M | -$84.6M | -$20.7M | -$10.0M | $0.00 | $0.00 | |
| Free Cash Flow | -$6.1M | -$80.4M | -$180.0M | -$264.8M | -$102.7M | -$65.7M | -$36.6M | -$23.6M | |
| Investing Cash Flow | -$760.0K | -$51.1M | -$474.4M | $114.5M | $41.1M | $54.0M | $25.5M | $21.2M | |
| Financing Cash Flow | $14.9M | $313.0M | $393.2M | $71.9M | $8.1M | $1.8M | $7.3M | $378.0K | |
| Issuance of Stock | $0.00 | $0.00 | $339.0M | $1.5M | $0.00 | $0.00 | $853.0K | -$6.2M | |
| Repurchase of Stock | $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 | $70.3M | $8.1M | $2.8M | $6.6M | $6.6M | |
| Stock Based Comp. | $293.0K | $1.7M | $26.2M | $30.4M | $18.2M | $17.3M | $8.7M | $5.4M | |
| Net Change in Cash | $8.9M | $232.9M | -$203.7M | $5.6M | -$33.0M | -$61.0K | -$3.8M | -$2.0M |
Dilution Tracker
Shares Outstanding
7M
5-Year Share Growth
+4.0%
Stock Issuance (TTM)
-$6.2M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 6.41 | 6.41 | 5.30 | 6.48 | 6.50 | 6.51 | 6.67 | 6.78 | |
| Change vs Prior % | — | 0.0% | -17.3% | 22.2% | 0.4% | 0.1% | 2.4% | 1.7% | |
| Stock Issuance | $0.00 | $0.00 | $339.0M | $1.5M | $0.00 | $0.00 | $853.0K | -$6.2M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $293.0K | $1.7M | $26.2M | $30.4M | $18.2M | $17.3M | $8.7M | $5.4M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | 100.0% | — | — | — | — | — | — | |
| Operating Margin % | — | -24379.7% | — | — | — | — | — | — | |
| Net Margin % | — | -27346.4% | — | — | — | — | — | — | |
| EBITDA Margin % | — | -24194.2% | — | — | — | — | — | — | |
| FCF Margin % | — | -58284.1% | — | — | — | — | — | — | |
| ROE % | -80.1% | -12.9% | -28.2% | -61.4% | -69.1% | -43.8% | -62.7% | -26.8% | |
| ROA % | -68.1% | -11.8% | -25.7% | -46.3% | -47.9% | -28.1% | -35.1% | -15.3% | |
| ROIC % | -81.7% | -11.0% | -27.4% | -45.2% | -50.2% | -28.6% | -26.6% | -18.6% | |
| R&D / Revenue % | — | 14057.2% | — | — | — | — | — | — |
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% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 790.0% | -100.0% | 0.0% | 100.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | -410.9% | -362.4% | -32.5% | 22.8% | 53.8% | 28.1% | |
| Net Income | 0.0% | -484.7% | -315.5% | -42.3% | 30.1% | 52.5% | 3.7% | |
| EPS (Diluted) | 0.0% | -483.2% | -402.5% | -16.4% | 30.4% | 52.5% | 6.1% | |
| Operating Cash Flow | 0.0% | -459.5% | -312.4% | -47.5% | 54.5% | 32.1% | 34.3% | |
| Free Cash Flow | 0.0% | -1228.8% | -123.8% | -47.1% | 61.2% | 36.0% | 44.3% | |
| R&D Expense | 0.0% | 381.7% | 452.9% | 31.5% | -71.9% | -70.1% | -15.5% | |
| SG&A Expense | 0.0% | 462.3% | 256.7% | 21.3% | -23.6% | -7.0% | -38.4% | |
| Total Assets | 0.0% | 3266.5% | 91.2% | -21.0% | -32.5% | -19.1% | -22.8% | |
| Book Value / Share | 0.0% | 3529.2% | 129.7% | -46.4% | -38.2% | -25.0% | -34.4% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | 7.7% | 1.0% | -2.0% | |
| Diluted Shares | 0.0% | 0.0% | -17.3% | 22.2% | 0.4% | 0.1% | 2.4% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.43
10Y Low / Med / High0.22 / 0.73 / 420.80
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$15.83
Cash / Share
$10.27
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -523.56 | -89.78 | -11.56 | -0.37 | -0.32 | -1.68 | -1.03 | -1.53 | |
| P/S Ratio | 0.00 | 24564.72 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 420.80 | 11.59 | 3.27 | 0.22 | 0.22 | 0.73 | 0.64 | 0.43 | |
| EV/EBITDA | -520.00 | -94.29 | -11.64 | -0.54 | -0.86 | -3.24 | -2.34 | -1.50 | |
| EV/Revenue | 0.00 | 22813.17 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-4.98
Distress
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $4.0M | $8.2M | $8.4M |
| Net Income | -$7.8M | -$55.2M | -$73.8M |
| EPS | $-1.17 | $-8.28 | $-11.06 |
| # Analysts (EPS) | 1 | 1 | 1 |