CAPRICOR THERAPEUTICS, INC. CAPR
Capricor Therapeutics, Inc. is a biotechnology company focused on the development and potential commercialization of cell and exosome-based therapeutics for the treatment of Duchenne muscular dystrophy ("DMD"), a rare genetic disorder characterized by progressive muscle degeneration and premature death, as well as other diseases with significant unmet medical need. Since our inception, we have devoted substantial resources to the development of our lead product candidate, Deramiocel, a cell therapy designed to address the cardiac and skeletal muscle complications associated with DMD, as well as to advancing our exosome-based platform, developing manufacturing capabilities and supporting our research and development activities. Our Biologics License Application ("BLA") for Deramiocel for the treatment of DMD is currently under review by the U.S. Food and Drug Administration ("FDA"), with a Prescription Drug User Fee Act ("PDUFA") target action date of August 22, 2026, for potential approval in the United States. We currently have no products approved for commercial sale. Our ability to generate product revenue and achieve profitability will depend on the successful development, regulatory approval and commercialization of Deramiocel and any other product candidates we may develop. If approved, we intend to commercialize Deramiocel in the United States and may seek commercialization through strategic partners in other select international markets.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $22.3M | $25.2M | $2.6M | $244.9K | $310.2K | $1.0M | $1.7M | $2.7M | $4.0M |
| R&D | $84.5M | $50.0M | $36.4M | $21.8M | $13.6M | $8.5M | $5.1M | $12.1M | $10.8M | $16.0M |
| SG&A | $23.7M | $14.9M | $12.8M | $10.4M | $7.6M | $5.5M | $3.6M | $4.9M | $4.8M | $4.9M |
| Total operating expenses | $108.1M | $64.8M | $49.3M | $32.2M | $21.2M | $14.0M | $8.7M | $17.0M | $15.5M | $21.0M |
| Operating income | -$108.1M | -$42.6M | -$24.1M | -$29.7M | -$20.9M | -$13.7M | -$7.7M | -$15.3M | -$12.9M | -$17.0M |
| Interest expense | $3.0M | $0 | — | — | — | — | — | $0 | $398.8K | $344.7K |
| Pre-tax income | -$105.0M | -$40.5M | — | — | — | — | — | — | — | — |
| Income tax | $1.6K | $1.6K | — | — | — | — | — | — | — | — |
| Net income | -$105.0M | -$40.5M | -$22.3M | -$29.0M | -$20.0M | -$13.7M | -$7.6M | -$15.2M | $2.4M | -$18.8M |
| EPS, basic | -2.26 | -1.15 | -0.83 | -1.18 | -0.87 | -0.88 | — | — | 0.10 | -1.01 |
| EPS, diluted | -2.26 | -1.15 | -0.83 | -1.18 | -0.87 | -0.88 | -2.06 | -5.17 | 0.09 | -1.01 |
| Shares, diluted (wtd. avg.) | $46.5M | $35.2M | $26.8M | $24.6M | $23.1M | $15.6M | $3.7M | $2.9M | $26.8M | $18.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $287.8M | $11.3M | $14.7M | $9.6M | $34.9M | $32.7M | $3.9M | $4.5M | $6.9M | $4.6M |
| Short-term investments | $30.3M | $140.2M | $24.8M | $31.8M | $0 | — | $6.0M | $3.0M | $8.0M | $13.0M |
| Total current assets | $322.9M | $163.4M | $50.9M | $42.9M | $36.4M | $33.7M | $10.5M | $8.5M | $15.7M | $18.1M |
| Property, plant and equipment | $18.3M | $5.6M | $5.6M | $4.6M | $1.8M | $850.8K | $442.8K | $574.2K | $372.1K | $435.3K |
| Other intangibles | — | — | — | — | $0 | $2.2K | $6.5K | $49.8K | $93.0K | $142.3K |
| Total assets | $355.9M | $170.5M | $58.7M | $50.1M | $41.3M | $34.6M | $11.1M | $9.2M | $16.3M | $18.7M |
| Accounts payable | $1.7M | $3.3M | $6.3M | $4.8M | $3.1M | $2.7M | $898.0K | $1.1M | $1.5M | $3.0M |
| Total current liabilities | $35.8M | $21.0M | $31.3M | $23.6M | $4.1M | $3.0M | $898.0K | $1.3M | $1.7M | $4.9M |
| Total liabilities | $50.2M | $25.0M | $36.1M | $38.3M | $10.0M | $6.4M | $4.3M | $4.6M | $5.0M | $22.8M |
| Retained earnings | -$304.9M | -$199.8M | -$159.4M | -$137.1M | -$108.1M | -$88.0M | -$74.4M | -$66.7M | -$51.5M | -$54.0M |
| Total equity | $305.8M | $145.5M | $22.6M | $11.8M | $31.4M | $28.2M | $6.8M | $4.6M | $11.2M | -$4.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$69.8M | -$40.0M | -$25.6M | $4.9M | -$16.8M | -$10.1M | -$6.8M | -$13.9M | -$14.2M | -$14.5M |
| Depreciation and amortisation | $1.9M | $1.4M | $1.1M | $533.1K | $245.7K | $143.9K | $172.0K | $157.7K | $144.2K | $125.7K |
| Stock-based compensation | — | $9.8M | $7.4M | $4.5M | $3.0M | $2.0M | $701.0K | $1.7M | $1.7M | $2.0M |
| Capital expenditure | $2.9M | $1.2M | $1.3M | $2.0M | $1.2M | $547.6K | $0 | $316.5K | $32.2K | $192.0K |
| Investing cash flow | $97.5M | -$116.2M | $5.1M | -$35.1M | -$1.2M | $5.4M | -$3.0M | $4.7M | $5.0M | -$5.2M |
| Financing cash flow | $248.9M | $152.8M | $25.6M | $4.9M | $20.2M | $33.4M | $9.2M | $6.9M | $11.6M | $18.6M |
| Buybacks | — | — | — | — | — | $0 | $193 | $0 | — | — |
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 0001104659-26-042070.
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