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Biora Therapeutics (Biora Therapeutics) Altman Z-Score : -56.35 (As of Apr. 27, 2024)


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What is Biora Therapeutics Altman Z-Score?

The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.

Warning Sign:

Altman Z-score of -56.36 is in distress zone. This implies bankruptcy possibility in the next two years.

Biora Therapeutics has a Altman Z-Score of -56.35, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.

The zones of discrimination were as such:

When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.

The historical rank and industry rank for Biora Therapeutics's Altman Z-Score or its related term are showing as below:

BIOR' s Altman Z-Score Range Over the Past 10 Years
Min: -56.36   Med: -18.56   Max: -6.6
Current: -56.36

During the past 6 years, Biora Therapeutics's highest Altman Z-Score was -6.60. The lowest was -56.36. And the median was -18.56.


Biora Therapeutics Altman Z-Score Historical Data

The historical data trend for Biora Therapeutics's Altman Z-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Biora Therapeutics Altman Z-Score Chart

Biora Therapeutics Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Altman Z-Score
Get a 7-Day Free Trial - -6.60 -13.58 -23.53 -56.28

Biora Therapeutics Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Altman Z-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -23.53 -24.36 -27.68 -49.86 -56.28

Competitive Comparison of Biora Therapeutics's Altman Z-Score

For the Biotechnology subindustry, Biora Therapeutics's Altman Z-Score, along with its competitors' market caps and Altman Z-Score 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.


Biora Therapeutics's Altman Z-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Biora Therapeutics's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where Biora Therapeutics's Altman Z-Score falls into.



Biora Therapeutics Altman Z-Score Calculation

Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

Biora Therapeutics's Altman Z-Score for today is calculated with this formula:

Z=1.2*X1+1.4*X2+3.3*X3+0.6*X4+1.0*X5
=1.2*-1.4064+1.4*-30.4648+3.3*-3.6716+0.6*0.1693+1.0*0.0001
=-56.35

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.

Trailing Twelve Months (TTM) ended in Dec. 2023:
Total Assets was $31.22 Mil.
Total Current Assets was $19.07 Mil.
Total Current Liabilities was $62.97 Mil.
Retained Earnings was $-950.96 Mil.
Pre-Tax Income was -15.727 + -73.453 + -17.803 + -17.441 = $-124.42 Mil.
Interest Expense was -1.84 + -2.592 + -2.703 + -2.68 = $-9.82 Mil.
Revenue was 0 + 0 + 0.002 + 0.002 = $0.00 Mil.
Market Cap (Today) was $22.45 Mil.
Total Liabilities was $132.64 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(19.071 - 62.972)/31.215
=-1.4064

X2=Retained Earnings/Total Assets
=-950.958/31.215
=-30.4648

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(-124.424 - -9.815)/31.215
=-3.6716

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=22.452/132.636
=0.1693

X5=Revenue/Total Assets
=0.004/31.215
=0.0001

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

Biora Therapeutics has a Altman Z-Score of -56.35 indicating it is in Distress Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


Biora Therapeutics  (NAS:BIOR) Altman Z-Score Explanation

X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.

X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.

X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.

X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.

X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


Biora Therapeutics Altman Z-Score Related Terms

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Biora Therapeutics (Biora Therapeutics) Business Description

Traded in Other Exchanges
Address
4330 La Jolla Village Drive, Suite 300, San Diego, CA, USA, 92122
Biora Therapeutics Inc is a biotechnology company engaged in developing oral biotherapeutics. Its drug-device combinations could enable new treatment approaches in the delivery of therapeutics in two main areas: Targeted delivery of therapeutics to the site of disease in the gastrointestinal ("GI") tract, which is designed to improve outcomes for patients with Inflammatory Bowel Disease (IBD); and Systemic delivery of biotherapeutics, which are designed to replace injection with needle-free, oral delivery technology. Geographically, it operates only in the United States.
Executives
Athyrium Opportunities Iii Co-invest 1 Lp 10 percent owner 505 FIFTH AVENUE, FLOOR 18, NEW YORK NY 10017
Surbhi Sarna director ONE PENUMBRA PLACE, ALAMEDA CA 94502
Aditya P. Mohanty director, officer: Chief Executive Officer 1010 ATLANTIC AVENUE, SUITE 102, ALAMEDA CA 94501
Jill Ann Howe director C/O DTX PHARMA, INC., 10655 SORRENTO VALLEY ROAD, SUITE 100, SAN DIEGO CA 92121
Athyrium Capital Management, Lp 10 percent owner 505 FIFTH AVENUE, FLOOR 18, NEW YORK NY 10017
Athyrium Opportunities Fund (a) Lp 10 percent owner 605 THIRD AVENUE, 22ND FLOOR, NEW YORK NY 10158
Hutan Hashemi officer: Chief Compliance Officer 4330 LA JOLLA VILLAGE DRIVE, SUITE 200, SAN DIEGO CA 92122
Damon Silvestry officer: Chief Operating Officer 4330 LA JOLLA VILLAGE DRIVE, SUITE 200, SAN DIEGO CA 92122
Jeffrey D. Alter director 4330 LA JOLLA VILLAGE DRIVE, SUITE 200, SAN DIEGO CA 92122
Athyrium Opportunities Iii Acquisition Lp 10 percent owner 505 FIFTH AVENUE, 18TH FLOOR, NEW YORK NY 10017
Harry Stylli director, officer: Chairman & CEO 3595 JOHN HOPKINS CT, SAN DIEGO CA 92121
Matthew T Cooper officer: Chief Scientific Officer 4330 LA JOLLA VILLAGE DRIVE, SUITE 200, SAN DIEGO CA 92122
Athyrium Opportunities Advisers Llc 10 percent owner 1209 AVENUE OF THE AMERICAS, NEW YORK NY 10104
Athyrium Opportunities Associates Gp Llc 10 percent owner 1209 AVENUE OF THE AMERICAS, NEW YORK NY 10104
Athyrium Opportunities Associates Lp 10 percent owner 1209 AVENUE OF THE AMERICAS, NEW YORK NY 10104