Ceryvyn Therapeutics Ltd. - Unsponsored ADR
CYVNY Healthcare Biotechnology
Ceryvyn Therapeutics Ltd. - Unsponsored ADR’s revenue for fiscal 2025 (year ended June 2025) was $25,000.00, down 80.0% from fiscal 2024.
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Ceryvyn Therapeutics Ltd. - Unsponsored ADR (CYVNY) Beneish M-score
Ceryvyn Therapeutics Ltd. - Unsponsored ADR's Beneish M-score for fiscal 2025 is −3.64; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −3.64 | (0.42) |
| FY2024 | −3.22 | 1.59 |
| FY2023 | −4.81 | 1.78 |
| FY2022 | −6.58 | (3.76) |
| FY2021 | −2.82 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 3.22 | — | 2.96 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index Asset quality not computable — index set to 1 | 1.00 | — | Set to 1 | 0.40 |
| Sales growth index | 0.20 | — | 0.18 | |
| Depreciation index Depreciation not reported — index set to 1 | 1.00 | — | Set to 1 | 0.12 |
| SG&A index | 9.21 | — | −1.58 | |
| Total accruals to total assets | (0.07) | — | −0.34 | |
| Leverage index | 3.24 | — | −1.06 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.64 | ||
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 |
|---|---|
| CYVNY Ceryvyn Therapeutics Ltd. - Unsponsored ADR | −3.6× |
| VALN Valneva SE Sponsored ADR compare | −3.3× |
| ACRS Aclaris Therapeutics, Inc. compare | −3.0× |
| PBYI Puma Biotechnology, Inc. compare | −2.1× |
| CTMX CytomX Therapeutics, Inc. compare | −1.1× |
| STTK Shattuck Labs, Inc. compare | — |
| FTH Faeth Therapeutics, Inc. compare | — |
| VECT VectivBio Holding AG compare | — |
| DRUG Bright Minds Biosciences 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