Taysha Gene Therapies, Inc. (NASDAQ: TSHA)

Sector: Healthcare Industry: Biotechnology CIK: 0001806310
P/B 8.01
P/E -17.55
P/S 277.86
Market Cap 1.75 Bn
ROIC (Qtr) -34.45
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 67.36 Mn
Debt/Equity (Qtr) 0.31

About

Taysha Gene Therapies, Inc., often recognized by its stock symbol TSHA, is a clinical-stage biotechnology company operating within the healthcare sector, specifically in the field of gene therapies for the treatment of severe monogenic diseases of the central nervous system (CNS). The company's primary focus is on discovering, developing, and commercializing gene therapies, with a particular emphasis on its lead clinical program targeting Rett syndrome. Taysha's business activities revolve around the use of AAV-based gene therapies to address the...

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Analysis

Pros

  • Strong tangible asset base of 316.55M provides 4.70x coverage of total debt 67.36M, indicating robust asset backing and low credit risk.
  • Tangible assets of 316.55M provide exceptional 57.71x coverage of deferred revenue 5.49M, showing strong service capability backing.
  • Operating cash flow of (84.68M) fully covers other non-current liabilities (3.91M) by 21.66x, showing strong long-term stability.
  • Tangible assets of 316.55M provide robust 13.65x coverage of other current liabilities 23.19M, indicating strong asset backing.
  • Cash reserves of 299.94M provide robust 10.48x coverage of current liabilities 28.63M, indicating strong short-term solvency.

Cons

  • Investment activities of (344000) provide weak support for R&D spending of 76.78M, which is -0x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (84.68M) provides insufficient coverage of deferred revenue obligations of 5.49M, which is -15.44x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (84.68M) shows concerning coverage of stock compensation expenses of 12.98M, with a -6.52 ratio indicating potential earnings quality issues.
  • Free cash flow of (85.16M) provides weak coverage of capital expenditures of 486000, with a -175.23 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (99.86M) show weak coverage of depreciation charges of 2.41M, with a -41.43 ratio indicating high capital intensity and potential reinvestment needs.

Peer Comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,349.40 Bn -1,464.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 437.43 Bn 6,381.20 87.97 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 116.09 Bn 31.59 9.90 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 78.10 Bn 17.06 5.48 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 55.87 Bn 1,282.42 17.40 3.21 Bn
6 ARGX Argenx Se 52.85 Bn 35.08 27,559.65 -
7 BNTC Benitec Biopharma Inc. 41.75 Bn -998.33 0.00 0.00 Bn
8 INSM INSMED Inc 37.80 Bn -31.93 84.56 0.74 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 4.73 12.31
EV to Cash from Ops. -17.66 23.25
EV to Debt 22.21 738.44
EV to EBIT -14.98 -9.16
EV to EBITDA -15.00 6.95
EV to Free Cash Flow [EV/FCF] -17.56 21.90
EV to Market Cap 0.85 65.67
EV to Revenue 237.05 227.32
Price to Book Value [P/B] 8.01 22.34
Price to Earnings [P/E] -17.55 -11.77

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 -11.94
Dividend Payout Ratio % 0.00 0.16
Dividend per Basic Share 0.00 0.01
FCF Dividend Payout Ratio % 0.00 -0.14
Interest Coverage -1,367.89 841.00

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % -23.66 -27.13
Cash and Equivalents Growth (1y) % 87.13 734.65
Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % -354.32 -46.93
EBITDA Growth (1y) % -16.94 -1.68
EBIT Growth (1y) % -354.32 -56.45
EBT Growth (1y) % -338.82 -12.70
EPS Growth (1y) % -152.38 -28.31
FCF Growth (1y) % -7.22 -31.90
Gross Profit Growth (1y) % -36.36 226.84

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.02 0.14
Cash Payout Ratio 0.00 0.00
Cash Ratio 10.48 3.85
Current Ratio 10.48 7.27
Debt to Equity Ratio 0.31 0.40
Interest Cover Ratio -1,367.89 841.00
Times Interest Earned -1,367.89 841.00

Profitability

Metric Value Industry Percentile
EBITDA Margin % -1,544.30 -18,234.31
EBIT Margin % -1,582.50 -18,580.80
EBT Margin % -1,583.66 -19,488.74
Gross Margin % 100.00 -7.59
Net Profit Margin % -1,583.70 -19,439.22