What is Abeona Therapeutics Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, Abeona Therapeutics's Probability of Financial Distress (%) is 4.76%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of Abeona Therapeutics's Probability of Financial Distress (%)
For the Biotechnology subindustry, Abeona Therapeutics's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Abeona Therapeutics's Probability of Financial Distress (%) Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Abeona Therapeutics's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Abeona Therapeutics's Probability of Financial Distress (%) falls into.
Abeona Therapeutics Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | -3.00 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 4.76% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
Abeona Therapeutics (Abeona Therapeutics) Business Description
Traded in Other Exchanges
Address
1330 Avenue of the Americas, 33rd Floor, New York, NY, USA, 10019
Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company. The firm is focused on developing gene therapies and plasma-based products for life-threatening rare genetic diseases. Its lead clinical programs consist of EB-101, autologous, gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa; ABO-102, adeno-associated virus-based gene therapy for Sanfilippo syndrome type A, and ABO-101, an AAV-based gene therapy for Sanfilippo syndrome type B.
Executives
| Mark Alvino |
director |
C/O SCO SECURITIES LLC, 1285 AVENUE OF THE AMERICAS 35TH FLOOR, NEW YORK NY 10019 |
| Michael Amoroso |
officer: Chief Operating Officer |
1330 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019 |
| Faith L. Charles |
director |
ABEONA THERAPEUTICS INC., 1330 AVENUE OF THE AMERICAS - FLOOR 33, NEW YORK NY 10019 |
| Vishwas Seshadri |
director, officer: Chief Executive Officer |
64 STRYKER COURT, BRIDGEWATER NJ 08807 |
| Leila Alland |
director |
C/O PMV PHARMACEUTICALS, INC., 8 CLARKE DRIVE, SUITE 3, CRANBURY NJ 08512 |
| Christine Berni Silverstein |
officer: Chief Financial Officer |
C/O ABEONA THERAPEUTICS INC., 1330 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019 |
| Joseph Walter Vazzano |
officer: Chief Financial Officer |
1330 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019 |
| Brendan M. O'malley |
officer: SVP, General Counsel |
1330 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019 |
| Adage Capital Partners, L.p. |
10 percent owner |
200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116 |
| Adage Capital Management, L.p. |
10 percent owner |
200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116 |
| Adage Capital Partners Gp, L.l.c. |
10 percent owner |
200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116 |
| Robert Atchinson |
10 percent owner |
200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116 |
| Phillip Gross |
10 percent owner |
200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116 |
| Edward Carr |
officer: Vice President, Controller |
1330 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019 |
| Todd Wider |
director |
4848 LEMMON AVENUE, SUITE 517, DALLAS TX 75219 |
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