Investment Thesis
Vaccinex faces imminent financial distress with negative stockholders' equity of -$2.5M and critical liquidity (0.50x current ratio), providing only ~40 days of cash runway against $16.2M annual operating burn. The company's $601K annual revenue cannot support $18.7M operating losses, indicating a fundamentally broken business model with no viable path to profitability.
Strengths
- No significant long-term debt burden limiting financial flexibility
- Modest revenue growth of 5.4% YoY demonstrates some market traction
- EPS improving 79.7% YoY shows management focus on cost control
Risks
- Technically insolvent with negative equity of -$2.5M; unable to cover total liabilities with assets
- Liquidity crisis: 0.50x current ratio with approximately 40 days of cash runway at current $16.2M annual burn rate
- Extreme operating losses of -$18.7M on $601K revenue (-3100% net margin) demonstrate economically non-viable business model
Key Metrics to Watch
- Monthly cash burn rate and path to positive cash flow or external funding
- Gross margin and unit economics if revenue scales materially
- Quarterly revenue trajectory and customer concentration risk
Financial Metrics
Revenue
601.0K
Net Income
-18.6M
EPS (Diluted)
$-8.88
Free Cash Flow
-16.2M
Total Assets
2.6M
Cash
1.1M
Profitability Ratios
Gross Margin
N/A
Operating Margin
-3,117.3%
Net Margin
-3,100.5%
ROE
N/A
ROA
-717.8%
FCF Margin
-2,696.8%
Balance Sheet & Liquidity
Current Ratio
0.50x
Quick Ratio
0.50x
Debt/Equity
N/A
Debt/Assets
195.8%
Interest Coverage
-9,367.50x
Long-term Debt
0.0
Disclaimer: This analysis is generated by AI based on publicly available SEC EDGAR filings.
It does not include stock price data and should not be considered financial advice.
All fundamental data is sourced from SEC public domain filings.
Always conduct your own research before making investment decisions.
Data Source: SEC EDGAR |
Analysis Date: 2026-04-18T13:06:32.733126 |
Data as of: 2024-12-31 |
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