Biora Therapeutics Inc
BIOR
Biora Therapeutics Inc AI Insights
Informational only. Not investment advice.Snapshot
- Negative equity of -106.6M with current liabilities (120.6M) exceeding total assets (14.5M) - technically insolvent balance sheet.[Common Stockholders Equity]
- Cash of 3.2M vs quarterly burn of ~11.5M implies <3 months runway without financing. Current debt of 38.6M due.[Cash and Equivalents]
- Revenue TTM of 892K down 72% over 5 years while burning 46.2M FCF annually - business model not generating commercial traction.[Total Revenue 5yr Growth]
Watch Triggers
- Cash and Equivalents: Falls below 2M or new financing announced — Signals days to insolvency or terms of survival financing (dilution magnitude)
- Issuance of Capital Stock: Any equity raise >10M — Determines if company survives and at what dilution to existing shareholders
- Current Debt: Restructuring or default notice — 38.6M current debt due - resolution determines equity recovery value
Bull Case
R&D spend of 26.4M TTM (43% of opex) suggests pipeline development continues. Any clinical milestone could trigger financing at better terms.
Market cap of 36.5M near cash+debt restructuring value. Successful pivot or partnership could yield asymmetric upside from distressed base.
Bear Case
Balance sheet is insolvent: -106.6M equity, 120.6M current liabilities vs 6M current assets. Debt covenants likely breached or waived.
Burn rate of 46M/year with 3.2M cash = weeks of runway. Dilution of 90%+ or bankruptcy highly probable without immediate capital.
Bull vs Bear Balance
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Forward Thesis
Company faces imminent dilution or restructuring within 6 months absent major financing event.
- Cash runway under 3 months at current burn
- 39.6M total debt with 38.6M current
- No path to profitability visible
Public Strategies Rankings
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BIOR Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$4 | — | ||
$36.45M | — | ||
0.00 | — | ||
$892,000 | +4855.6% | — | |
$-15.46 | — | ||
-6,824% | +368592.3% | — | |
-3,536% | +676597.6% | — | |
$-46.2M | — | ||
0.00 | — | ||
Beta 5Y (Monthly) | unknown | — |
BIOR Dividend History
BIOR Stock Splits
BIOR SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/14/24 | 09/30/24 | 10-Q | |
08/12/24 | 06/30/24 | 10-Q | |
05/15/24 | 03/31/24 | 10-Q | |
04/01/24 | 12/31/23 | 10-K | |
11/13/23 | 09/30/23 | 10-Q | |
08/14/23 | 06/30/23 | 10-Q | |
05/15/23 | 03/31/23 | 10-Q | |
03/30/23 | 12/31/22 | 10-K | |
11/14/22 | 09/30/22 | 10-Q | |
08/15/22 | 06/30/22 | 10-Q | |
05/10/22 | 03/31/22 | 10-Q | |
03/28/22 | 12/31/21 | 10-K | |
11/10/21 | 09/30/21 | 10-Q | |
08/12/21 | 06/30/21 | 10-Q | |
05/13/21 | 03/31/21 | 10-Q | |
03/18/21 | 12/31/20 | 10-K | |
11/09/20 | 09/30/20 | 10-Q | |
08/14/20 | 06/30/20 | 10-Q | |
06/22/20 | 03/31/20 | 424B4 | |
06/22/20 | 12/31/19 | 424B4 | |
11/09/20 | 09/30/19 | 10-Q | |
08/14/20 | 06/30/19 | 10-Q | |
06/22/20 | 03/31/19 | 424B4 |