Ernexa Therapeutics Inc.
ERNA Healthcare Biotechnology
Ernexa Therapeutics Inc.’s revenue for fiscal 2024 (year ended December 2024) was $582,000.00, up 755.9% from fiscal 2023. In the quarter to June 2026, revenue fell 94.1%, EPS grew 77.7% and free cash flow fell 64.1%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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Ernexa Therapeutics Inc. (ERNA) Altman Z-score
Ernexa Therapeutics Inc.'s Altman Z-score for fiscal 2024 is −70.69, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | −70.69 | (64.14) |
| FY2023 | −6.55 | (11.89) |
| FY2020 | 5.34 | 16.94 |
| FY2019 | −11.60 | (1.69) |
| FY2018 | −9.91 | (0.61) |
| FY2017 | −9.30 | (0.34) |
| FY2016 | −8.96 | 0.75 |
| FY2015 | −9.70 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.11) | — | −0.13 | |
| Retained earnings / total assets | (43.94) | — | −61.52 | |
| EBIT / total assets | (2.97) | — | −9.82 | |
| Market value of equity / total liabilities | 1.11 | — | 0.67 | |
| Sales / total assets | 0.11 | — | 0.11 | |
| Altman Z-score | Distress zone | −70.69 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −163.47 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| UNBX UNITY Biotechnology, Inc. compare | −5.6× |
| LIPO Lipella Pharmaceuticals Inc. compare | −10.7× |
| KALA KALA BIO, Inc. compare | −11.2× |
| ERNA Ernexa Therapeutics Inc. | −70.7× |
| CVKD Cadrenal Therapeutics, Inc. compare | — |
| IOBTQ IO Biotech, Inc. compare | — |
| PBLA Panbela Therapeutics Inc. compare | — |
| PPCB Propanc Biopharma Inc compare | — |
| PMCB Nuvilex Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets