Alaunos Therapeutics, Inc. TCRT
We are a preclinical-stage biopharmaceutical company focused on the development of novel, orally administered small-molecule therapeutics for obesity and related metabolic disorders, such as metabolic dysfunction-associated steatotic liver disease (MASLD, a type of fatty liver disease). The program aims to develop a differentiated, non-hormonal, non-incretin approach, unlike hormone-based treatments like GLP-1 drugs. On March 2, 2026, we announced positive preclinical proof-of-concept data for ALN1003 from two separate studies using a standard diet-induced obesity (DIO) mouse model in male C57BL/6 mice maintained on a high-fat diet (60% of calories from fat). Highlights from these studies include dose-dependent body weight loss with favorable body composition changes, reductions in liver weight, improvement in liver function biomarkers, and improvement in metabolic biomarkers. Collectively, these findings suggest encouraging metabolic effects of ALN1003 in the DIO model.
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 | $5.0K | $10.0K | $5.0K | $2.9M | $398.0K | $0 | — | $146.0K | $6.4M | $6.9M |
| R&D | $1.4M | $362.0K | $16.3M | $25.0M | $49.6M | $52.7M | $38.3M | $34.1M | $45.1M | $157.8M |
| SG&A | $2.9M | $4.5M | $12.2M | $13.1M | $27.6M | $27.7M | $19.5M | $19.9M | $14.8M | $14.4M |
| Total operating expenses | $4.2M | $4.8M | $34.3M | $38.0M | $77.9M | $80.4M | $57.9M | $54.1M | $59.9M | — |
| Operating income | -$4.2M | -$4.8M | -$34.3M | -$35.1M | -$77.5M | -$80.4M | -$57.9M | -$53.9M | -$53.5M | -$165.3M |
| Interest expense | — | $0 | $1.9M | $3.2M | $1.2M | — | — | — | — | — |
| Pre-tax income | -$4.2M | — | — | — | — | — | — | — | — | — |
| Income tax | $0 | — | — | — | — | — | — | — | — | — |
| Net income | -$4.2M | -$4.7M | -$4.7M | -$37.7M | -$78.8M | -$80.0M | -$117.8M | -$53.1M | -$54.3M | -$165.3M |
| EPS, basic | -2.20 | -2.92 | -21.97 | -2.61 | -0.37 | -0.38 | -0.70 | 0.96 | -0.53 | -1.32 |
| EPS, diluted | -2.20 | -2.92 | -21.97 | -2.61 | -0.37 | -0.38 | -0.70 | 0.96 | -0.53 | -1.32 |
| Shares, diluted (wtd. avg.) | $1.9M | $1.6M | $1.6M | $14.5M | $214.4M | $209.6M | $168.0M | $143.7M | $136.9M | $130.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.4M | $1.1M | $6.1M | $53.0M | $76.1M | $115.1M | $79.7M | $61.7M | $71.3M | $81.4M |
| Receivables | $3.0K | $5.0K | $1.0K | $4.0K | $1.1M | $4.7M | $3.3M | $1.9M | $19.0K | $21.0K |
| Total current assets | $2.0M | $2.8M | $8.3M | $53.8M | $78.8M | $130.6M | $105.5M | $84.3M | $90.8M | $104.9M |
| Property, plant and equipment | $91.0K | $0 | $2.0K | $8.5M | $10.9M | $10.2M | $1.1M | $1.1M | $1.2M | $843.0K |
| Total assets | $3.0M | $2.8M | $8.3M | $64.9M | $94.9M | $146.3M | $109.1M | $95.1M | $105.6M | $106.3M |
| Accounts payable | $613.0K | $516.0K | $616.0K | $1.4M | $1.4M | $960.0K | $906.0K | $707.0K | $4.4M | $156.0K |
| Short-term debt | — | — | $0 | $16.8M | $7.9M | $0 | — | — | — | — |
| Total current liabilities | $813.0K | $692.0K | $2.0M | $24.2M | $16.0M | $18.4M | $12.5M | $9.5M | $20.9M | $15.8M |
| Long-term debt | — | $0 | $0 | $0 | $16.2M | $0 | — | — | — | — |
| Total liabilities | $813.0K | $692.0K | $2.0M | $26.4M | $36.8M | $22.4M | $14.1M | $9.5M | $58.4M | $58.3M |
| Retained earnings | -$924.6M | -$920.4M | -$915.8M | -$880.6M | -$842.9M | -$764.1M | -$684.1M | -$566.3M | -$712.4M | -$658.0M |
| Total equity | $2.2M | $2.1M | $6.3M | $38.6M | $58.1M | $124.0M | $95.0M | $85.6M | -$96.8M | -$77.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2.9M | -$5.0M | -$30.1M | -$29.2M | -$61.5M | -$57.0M | -$40.9M | -$49.5M | -$54.7M | -$58.3M |
| Depreciation and amortisation | $7.0K | $2.0K | $2.3M | $2.8M | $2.6M | $1.1M | $629.0K | $575.0K | $369.0K | $290.0K |
| Stock-based compensation | $796.0K | $435.0K | $2.8M | $3.5M | $10.8M | $6.8M | $6.3M | $7.5M | $8.5M | $8.5M |
| Capital expenditure | $98.0K | $0 | $197.0K | $216.0K | $3.3M | $9.8M | $284.0K | $459.0K | $737.0K | $551.0K |
| Investing cash flow | -$98.0K | $0 | $1.3M | -$193.0K | -$3.3M | -$9.8M | -$284.0K | -$459.0K | -$737.0K | -$551.0K |
| Financing cash flow | $3.3M | $0 | -$18.1M | $6.4M | $25.8M | $102.1M | $59.1M | $40.3M | $45.3M | -$788.0K |
| Buybacks | — | — | $0 | $45.0K | $0 | — | $653.0K | $1.6M | $0 | $2.0K |
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 0001193125-26-197838.
Others in SIC 2834
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| AKTX | Akari Therapeutics Plc | $1.79T | — | — |
| LLY | ELI LILLY & Co | $1.08T | 50.1x | 44.7% |
| JNJ | JOHNSON & JOHNSON | $663.28B | 25.0x | 6.0% |
| ONC | BeOne Medicines Ltd. | $529.55B | 1,885.6x | 40.2% |
| ABBV | AbbVie Inc. | $453.19B | 108.7x | 8.6% |
| MRK | Merck & Co., Inc. | $370.89B | 20.6x | 1.3% |
| ABT | ABBOTT LABORATORIES | $188.69B | 29.1x | 5.7% |
| PFE | PFIZER INC | $162.16B | 20.9x | -1.6% |