Barinthus Biotherapeutics plc. BRNS
We are a clinical-stage biopharmaceutical company focused on developing novel immunotherapeutic drug candidates for treating autoimmune and inflammatory diseases within the immunology and inflammation ("I&I") space. Helping patients and their families is the guiding principle at the heart of Barinthus Bio. We aim to achieve this by developing truly transformational and highly disease-specific immunotherapies.
We are prioritizing the development of a pipeline for I&I indications enabled by our proprietary and highly differentiated platform for promoting immune tolerance, referred to as SNAP-TI, that are designed to guide patient's T cells to reduce inflammation and restore the natural state of immune non-responsiveness to healthy tissue. Our lead candidate, VTP-1000, is designed to restore immune non-responsiveness to gluten in patients with celiac disease, and is currently being assessed in a Phase 1 clinical trial. Based on encouraging preclinical data, we believe that the SNAP-TI platform has the potential to impact multiple other I&I indications.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $15.0M | $802.0K | $44.7M | $268.0K | $4.8M | — |
| R&D | $25.6M | $42.2M | $44.9M | $42.4M | $20.4M | $14.4M | — |
| SG&A | $40.8M | $29.7M | $39.8M | $6.4M | $25.1M | $10.5M | — |
| Total operating expenses | $71.1M | $84.1M | $84.7M | $48.7M | $45.5M | $24.9M | — |
| Operating income | -$70.6M | -$68.0M | -$83.9M | -$4.0M | -$45.2M | -$20.0M | — |
| Interest expense | $51.0K | $53.0K | $28.0K | $19.0K | $2.7M | $3.6M | — |
| Pre-tax income | -$66.6M | -$61.2M | -$76.5M | $850.0K | -$51.1M | -$17.6M | — |
| Income tax | $175.0K | $44.0K | $3.1M | $4.5M | $28.0K | $95.0K | — |
| Net income | -$66.4M | -$61.1M | -$73.3M | $5.3M | -$50.9M | -$17.7M | — |
| EPS, basic | -1.64 | -1.55 | -1.91 | 0.14 | -1.96 | -2.24 | — |
| EPS, diluted | -1.64 | -1.55 | -1.91 | 0.14 | -1.96 | -2.24 | — |
| Shares, diluted (wtd. avg.) | $40.5M | $39.3M | $38.4M | $38.2M | $25.9M | $7.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $70.5M | $110.7M | $142.1M | $194.4M | $214.1M | $43.3M | $11.4M |
| Receivables | — | — | — | $323.0K | $20.0K | $518.0K | — |
| Total current assets | $77.8M | $125.7M | $156.9M | $213.0M | $226.8M | $47.9M | — |
| Property, plant and equipment | $3.5M | $7.4M | $11.8M | $8.0M | $1.8M | $629.0K | — |
| Goodwill | — | $0 | $12.2M | $12.2M | $12.6M | — | — |
| Other intangibles | $14.3M | $21.9M | $25.1M | $28.3M | $31.4M | — | — |
| Total assets | $98.2M | $160.3M | $214.5M | $270.2M | $280.7M | $50.7M | — |
| Accounts payable | $350.0K | $2.5M | $1.6M | $3.7M | $2.4M | $4.7M | — |
| Short-term debt | — | — | — | — | $159.0K | — | — |
| Total current liabilities | $10.0M | $15.7M | $12.6M | $12.2M | $11.2M | $7.6M | — |
| Total liabilities | $23.9M | $30.2M | $27.5M | $27.0M | $28.2M | $53.8M | — |
| Retained earnings | -$304.1M | -$237.7M | -$176.6M | -$103.2M | -$108.6M | -$57.7M | — |
| Total equity | $74.2M | $130.0M | $187.0M | $243.2M | $252.6M | -$36.9M | -$22.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$48.0M | -$28.9M | -$50.9M | -$14.4M | -$32.6M | -$11.0M | — |
| Depreciation and amortisation | $5.8M | $5.8M | $5.4M | $4.3M | $602.0K | $208.0K | — |
| Stock-based compensation | $468.0K | $4.7M | $5.1M | $9.9M | $16.5M | $3.6M | — |
| Capital expenditure | $37.0K | $892.0K | $5.4M | $6.1M | $1.1M | $293.0K | — |
| Investing cash flow | $416.0K | -$892.0K | -$5.4M | -$5.8M | -$12.9M | -$293.0K | — |
| Financing cash flow | $2.0K | $2.2M | $1.9M | $325.0K | $222.7M | $41.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001828185-26-000012.
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