Enlivex Therapeutics Ltd. (NASDAQ: ENLV)

Sector: Healthcare Industry: Biotechnology CIK: 0001596812
Market Cap 25.40 Mn
P/B 1.45
P/E -2.00
P/S 0.00
ROIC (Qtr) -81.02
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 0.00
Debt/Equity (Qtr) 0.00
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About

Enlivex Therapeutics Ltd., often referred to as ENLV, is a clinical-stage company specializing in macrophage reprogramming immunotherapy. Its primary focus is on developing Allocetra, a universal, off-the-shelf cell therapy designed to reprogram macrophages into their homeostatic state. This innovative therapy holds the potential to offer a novel immunotherapeutic mechanism of action for debilitating and life-threatening clinical indications. The company's operations are primarily centered around the development of Allocetra, which has demonstrated...

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Investment thesis

Bull case

  • Robust free cash flow of (11.06M) exceeds capital expenditure of (815000) by 13.57x, indicating strong organic growth funding capability.
  • Tangible assets of 20.94M provide robust 7.88x coverage of other current liabilities 2.66M, indicating strong asset backing.
  • Cash reserves of 18.20M provide solid 42.73x coverage of other non-current liabilities 426000, indicating strong liquidity.
  • Strong cash position of 18.20M provides 6.85x coverage of other current liabilities 2.66M, indicating excellent liquidity.
  • Cash reserves of 18.20M provide robust 6.01x coverage of current liabilities 3.03M, indicating strong short-term solvency.

Bear case

  • Operating cash flow of (11.87M) barely covers its investment activities of 11.41M, with a coverage ratio of -1.04, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of 11.41M provide weak support for R&D spending of 9.59M, which is 1.19x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (11.87M) shows concerning coverage of stock compensation expenses of 1.78M, with a -6.65 ratio indicating potential earnings quality issues.
  • Operating earnings of (14.80M) show weak coverage of depreciation charges of 292000, with a -50.68 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of (11.87M) barely covers operating expenses of 180000 with a -65.97 ratio, suggesting thin operational efficiency margins and limited flexibility.

Peer comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,204.25 Bn -1,306.67 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 486.51 Bn 7,097.20 97.84 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 122.05 Bn 30.87 10.17 1.85 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 83.00 Bn 18.42 5.79 2.71 Bn
5 ARGX Argenx Se 50.78 Bn 33.71 26,480.10 -
6 ALNY Alnylam Pharmaceuticals, Inc. 43.66 Bn 139.17 11.76 2.97 Bn
7 BNTC Benitec Biopharma Inc. 43.61 Bn -941.82 0.00 0.00 Bn
8 INSM INSMED Inc 28.88 Bn -24.40 64.61 0.74 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.28 11.06
EV to Cash from Ops. EV/CFO -0.50 26.32
EV to Debt EV to Debt 0.00 762.61
EV to EBIT EV/EBIT -0.40 -13.49
EV to EBITDA EV/EBITDA -0.41 8.61
EV to Free Cash Flow [EV/FCF] EV/FCF -0.53 25.66
EV to Market Cap EV to Market Cap 0.23 203.37
EV to Revenue EV to Revenue 0.00 156.31
Price to Book Value [P/B] P/B 1.45 20.59
Price to Earnings [P/E] P/E -2.00 -0.88
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -12.64
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.17
Dividend per Basic Share Div per Share (Qtr) 0.00 0.01
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -0.14
Interest Coverage Int. cover (Qtr) 7.05 956.66
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -58.69 7.87
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -25.72 753.48
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 28.12 -57.63
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 27.03 8.83
EBIT Growth (1y) % EBIT 1y % (Qtr) 28.12 -67.21
EBT Growth (1y) % EBT 1y % (Qtr) 32.92 -23.74
EPS Growth (1y) % EPS 1y % (Qtr) 43.88 -7.02
FCF Growth (1y) % FCF 1y % (Qtr) 9.56 -40.48
Gross Profit Growth (1y) % Gross Profit Growth (1y) % 0.00 264.51
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.00 0.14
Cash Payout Ratio Cash Payout Ratio 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 6.01 3.92
Current Ratio Curr Ratio (Qtr) 6.43 7.33
Debt to Equity Ratio Debt/Equity (Qtr) 0.00 0.48
Interest Cover Ratio Int Coverage (Qtr) 7.05 956.66
Times Interest Earned Times Interest Earned (Qtr) 7.05 956.66
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % 0.00 -17,888.70
EBIT Margin % EBIT Margin % 0.00 -18,246.34
EBT Margin % EBT Margin % 0.00 -19,108.08
Gross Margin % Gross Margin % 0.00 -10.30
Net Profit Margin % Net Profit Margin % 0.00 -19,056.96