Serina Therapeutics, Inc. SER
We are a clinical-stage biotechnology company developing a pipeline of wholly-owned drug product candidates to treat neurological diseases and other indications. Our POZ drug delivery technology is designed to enable certain existing drugs and novel drug candidates to be modified in a way that provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs).The Company's proprietary POZ technology is based on a synthetic, water soluble, low viscosity polymer called poly(2-oxazoline) and is engineered to provide greater control in drug loading and more precision in the rate of release of attached drugs delivered via easy-to-administer, long-acting subcutaneous injection.
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 | $130.0K | $56.0K | $3.2M | $34.0K | $144.0K | $361.0K | $1.7M | $1.4M | $1.4M | — |
| Cost of revenue | — | — | $40.0K | $13.0K | $19.0K | $26.0K | $244.0K | $364.0K | $168.0K | — |
| Gross profit | — | — | $102.0K | $21.0K | $125.0K | $335.0K | $1.5M | $1.0M | $1.2M | — |
| R&D | $13.2M | $7.5M | $2.4M | $1.0M | $1.5M | $3.7M | $5.9M | $5.8M | $5.8M | — |
| SG&A | $11.0M | $9.6M | $3.9M | $6.0M | $6.7M | $6.7M | $8.1M | $5.6M | $3.9M | — |
| Total operating expenses | $24.2M | $17.1M | $6.3M | $7.0M | $8.2M | $10.4M | $14.0M | -$12.3M | $9.7M | — |
| Operating income | -$24.0M | -$17.0M | -$3.1M | -$7.0M | -$7.9M | -$10.1M | -$12.6M | -$11.2M | -$6.7M | — |
| Interest expense | $213.0K | $526.0K | $558.0K | $3.3M | $1.1M | — | — | — | — | — |
| Pre-tax income | -$19.2M | -$11.2M | $5.3M | $10.5M | $8.7M | -$11.1M | -$12.2M | -$7.7M | — | — |
| Income tax | $18.0K | $0 | $0 | — | — | $150.0K | $148.0K | — | — | — |
| Net income | -$19.2M | -$11.2M | $5.3M | -$10.5M | -$8.7M | $2.0M | -$12.2M | -$7.5M | -$6.6M | — |
| EPS, basic | -1.91 | -1.51 | 2.36 | -9.70 | -0.23 | — | — | — | — | — |
| EPS, diluted | -1.91 | -1.51 | 0.73 | -9.70 | -0.23 | -0.29 | -0.33 | -0.21 | -0.21 | — |
| Shares, diluted (wtd. avg.) | $10.2M | $7.4M | $7.4M | $1.1K | $37.9M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.1M | $3.7M | $7.6M | $645.0K | $584.0K | $527.0K | $2.4M | $6.7M | $7.4M | $259.0K |
| Receivables | — | — | $57.0K | $4.0K | $25.0K | $326.0K | $363.0K | $131.0K | $107.0K | — |
| Total current assets | $6.1M | $5.7M | $7.6M | $2.5M | $2.2M | $2.3M | $4.1M | $7.9M | $7.6M | — |
| Property, plant and equipment | $465.0K | $501.0K | $573.0K | — | — | — | $1.1M | $90.0K | $129.0K | — |
| Other intangibles | — | — | $607.0K | $738.0K | $870.0K | $1.6M | $2.2M | $2.7M | $1.9M | — |
| Total assets | $7.0M | $6.7M | $9.0M | $3.2M | $3.2M | $3.9M | $7.4M | $10.7M | $9.6M | — |
| Accounts payable | $1.9M | $744.0K | $580.0K | $568.0K | $193.0K | $761.0K | $420.0K | $150.0K | $75.0K | — |
| Total current liabilities | $3.6M | $2.4M | $1.4M | $10.1M | $9.0M | $5.4M | $3.3M | $2.4M | — | — |
| Long-term debt | — | — | — | $18.1M | $13.2M | — | — | — | — | — |
| Total liabilities | $7.0M | $6.2M | $4.9M | $20.6M | $15.0M | $9.3M | $4.8M | $2.4M | $1.3M | — |
| Retained earnings | -$63.5M | -$44.3M | -$33.2M | -$116.2M | -$105.7M | -$97.1M | -$86.2M | -$74.1M | -$66.6M | — |
| Total equity | -$37.0K | $641.0K | -$32.3M | -$37.8M | -$11.9M | -$5.4M | $2.6M | $8.2M | $8.3M | -$22.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$18.0M | -$17.1M | -$2.5M | -$5.9M | -$7.9M | -$7.8M | -$10.2M | -$8.0M | -$6.3M | — |
| Depreciation and amortisation | $100.0K | $100.0K | — | — | — | $699.0K | $91.0K | $58.0K | $165.0K | — |
| Stock-based compensation | — | $2.6M | $25.0K | $760.0K | $999.0K | $909.0K | $1.9M | $1.3M | $114.0K | — |
| Capital expenditure | $59.0K | $22.0K | $504.0K | — | — | $20.0K | $641.0K | $21.0K | $1.0K | — |
| Investing cash flow | -$59.0K | -$22.0K | -$504.0K | — | $666.0K | -$20.0K | -$361.0K | $1.3M | $5.0K | — |
| Financing cash flow | $17.4M | $13.2M | $10.1M | $6.0M | $7.2M | $6.0M | $6.3M | $6.0M | $13.3M | — |
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 0001708599-26-000029.
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