Seelos Therapeutics, Inc.
SEELQ Healthcare Biotechnology
Seelos Therapeutics, Inc.’s revenue for fiscal 2023 (year ended December 2023) was $2.2 million. Revenue growth for three consecutive years, operating cash flow growth for three.
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Seelos Therapeutics, Inc. (SEELQ) Altman Z-score
Seelos Therapeutics, Inc.'s Altman Z-score for fiscal 2023 is −96.86, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | −96.86 | (82.48) |
| FY2019 | −14.38 | (191,947.90) |
| FY2015 | 191933.52 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (6.19) | — | −7.43 | |
| Retained earnings / total assets | (46.63) | — | −65.28 | |
| EBIT / total assets | (7.47) | — | −24.67 | |
| Market value of equity / total liabilities | 0.18 | — | 0.11 | |
| Sales / total assets | 0.41 | — | 0.41 | |
| Altman Z-score | Distress zone | −96.86 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −243.73 | ||
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 |
|---|---|
| SCNI Scinai Immunotherapeutics Ltd. Sponsored ADR compare | −16.9× |
| LYRA Lyra Therapeutics, Inc. compare | −19.4× |
| ATXI Avenue Therapeutics, Inc. compare | −51.5× |
| CRIS Curis, Inc. compare | −87.8× |
| SEELQ Seelos Therapeutics, Inc. | −96.9× |
| BBLG Bone Biologics Corp. compare | — |
| ZVSA ZyVersa Therapeutics, Inc. compare | — |
| MNTRQ 9 Meters Biopharma, Inc. compare | — |
| BTTX Better Therapeutics, 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