Cerenome, Inc.
CNSY Healthcare Biotechnology
Cerenome, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.2 million, down 10.5% from fiscal 2024. In the quarter to June 2026, revenue fell 70.4%, EPS fell 362.0% and free cash flow fell 31.5%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
Follow CNSY
Cerenome, Inc. (CNSY) Beneish M-score
Cerenome, Inc.'s Beneish M-score for fiscal 2025 is −3.46; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −3.46 | (4.18) |
| FY2019 | 0.73 | 2.85 |
| FY2018 | −2.12 | (1.38) |
| FY2017 | −0.75 | 1.99 |
| FY2016 | −2.73 | (0.57) |
| FY2015 | −2.16 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.63 | — | 0.58 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.39 | — | 0.16 | |
| Sales growth index | 0.90 | — | 0.80 | |
| Depreciation index | 1.04 | — | 0.12 | |
| SG&A index | 1.36 | — | −0.23 | |
| Total accruals to total assets | (0.10) | — | −0.46 | |
| Leverage index | 0.32 | — | −0.11 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.46 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| TVRD Tvardi Therapeutics, Inc. compare | −3.7× |
| CNSY Cerenome, Inc. | −3.5× |
| CLVSQ Clovis Oncology, Inc. compare | −3.1× |
| RVLP RVL Pharmaceuticals PLC compare | −1.8× |
| ADAPY Adaptimmune Therapeutics PLC compare | 16.7× |
| LPCN Lipocine Inc. compare | 23.6× |
| DARE Dare Bioscience, Inc. compare | — |
| KTTA Pasithea Therapeutics Corp. compare | — |
| BCDA BioCardia, Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI