Estados financieros detallados de BioXcel Therapeutics, Inc. (BTAI): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 45.3%, margen operativo -60.1%, margen neto -95.5%.
Al precio actual de $0.07, BTAI presenta beneficios negativos (P/E no significativo) y un ROE del 69.92%. La capitalización bursátil es de $2M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | 0 | $375000 | $1.4M | $2.3M | $642000 |
| Coste de Ventas | 0 | $1000 | $17000 | $156000 | 0 | 0 | $20000 | $1.3M | $2.1M | $164000 |
| Beneficio Bruto | 0 | -$1000 | -$17000 | -$156000 | 0 | 0 | $355000 | $120000 | $123000 | $478000 |
| I+D | $1.4M | $2.7M | $14.6M | $25.8M | $58.5M | $52.7M | $91.2M | $84.3M | $30.4M | $30.3M |
| Generales y Administrativos | $721000 | $1.8M | $5.4M | $7.8M | $24.6M | $54.2M | $68.8M | $83.4M | $34.5M | $20.5M |
| Gastos Operativos | $2.1M | $4.5M | $20.0M | $33.6M | $82.3M | $106.9M | $160.0M | $171.9M | $67.4M | $50.7M |
| Beneficio Operativo | -$2.1M | -$4.5M | -$20.0M | -$33.6M | -$82.3M | -$106.9M | -$159.6M | -$171.8M | -$67.2M | -$50.3M |
| EBITDA | 0 | -$4.5M | -$19.3M | -$32.8M | -$82.1M | -$106.6M | -$157.2M | -$165.4M | -$44.2M | -$52.6M |
| Gastos por Intereses | 0 | $2000 | 0 | 0 | $27000 | $40000 | $8.2M | $13.3M | $15.1M | $17.0M |
| Beneficio Antes de Impuestos | -$2.1M | -$4.5M | -$19.3M | -$33.0M | -$82.2M | -$106.9M | -$165.8M | -$179.1M | -$59.6M | -$69.9M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$2.1M | -$4.5M | -$19.3M | -$32.3M | -$82.2M | -$106.9M | -$165.8M | -$179.1M | -$59.6M | -$69.9M |
| BPA | $-2.06 | $-4.41 | $-21.16 | $-32.38 | $-60.63 | $-64.87 | $-94.67 | $-98.35 | $-23.51 | $-5.73 |
| BPA Diluido | $-2.06 | $-4.41 | $-21.16 | $-32.38 | $-60.63 | $-64.87 | $-94.67 | $-98.35 | $-23.51 | $-5.73 |
| Acciones en Circulación (Diluidas) | $1.0M | $1.0M | $910722 | $1.0M | $1.4M | $1.6M | $1.8M | $1.8M | $2.5M | $12.2M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | 0 | $887000 | $42.6M | $32.4M | $213.1M | $233.0M | $193.7M | $65.2M | $29.9M | $28.4M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | 0 | $115000 | 0 | 0 | 0 | $248000 | $71000 | $131000 | $233000 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | $2.0M | $2.0M | $679000 | $722000 |
| Activos Corrientes | $2000 | $890000 | $43.2M | $34.1M | $217.1M | $236.8M | $202.9M | $72.1M | $37.4M | $44.7M |
| Inmovilizado Material | $5000 | $4000 | $327000 | $2.2M | $2.8M | $2.5M | $2.1M | $1.5M | $857000 | $231000 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $7000 | $1.4M | $43.5M | $36.4M | $219.9M | $239.4M | $205.9M | $73.7M | $38.3M | $44.9M |
| Cuentas por Pagar | $279000 | $444000 | $1.6M | $5.0M | $4.0M | $4.7M | $10.2M | $13.7M | $16.0M | $14.7M |
| Deuda a Corto | 0 | $371000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $24.9M |
| Pasivos Corrientes | $331000 | $2.3M | $4.7M | $8.5M | $11.8M | $16.7M | $32.9M | $27.3M | $22.2M | $53.9M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | $93.1M | $100.6M | $102.5M | $84.7M |
| Pasivos Totales | $331000 | $2.3M | $4.7M | $9.5M | $13.2M | $17.8M | $129.1M | $130.2M | $131.4M | $140.4M |
| Reservas | 0 | -$4.5M | -$23.7M | -$56.7M | -$138.9M | -$245.8M | -$411.5M | -$590.6M | -$650.2M | -$720.1M |
| Patrimonio Neto | -$324000 | -$982000 | $38.9M | $26.9M | $206.7M | $221.7M | $76.8M | -$56.5M | -$93.1M | -$95.5M |
| Deuda Total | 0 | $371000 | 0 | $1.0M | $1.6M | $1.4M | $94.2M | $101.4M | $102.9M | $109.7M |
| Deuda Neta | 0 | -$516000 | -$42.6M | -$31.4M | -$211.5M | -$231.6M | -$99.6M | $36.2M | $73.1M | $81.2M |
| Capital Circulante | -$329000 | -$1.4M | $38.5M | $25.6M | $205.2M | $220.1M | $170.0M | $44.9M | $15.2M | -$9.2M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | -$2.1M | -$4.5M | -$19.3M | -$33.0M | -$82.2M | -$106.9M | -$165.8M | -$179.1M | -$59.6M | -$69.9M |
| Amortizaciones | 0 | $1000 | $17000 | $156000 | $188000 | $297000 | $327000 | $318000 | $309000 | $300000 |
| Compensación en Acciones | $671000 | $1.6M | $3.1M | $3.1M | $14.6M | $19.5M | $17.3M | $18.6M | $6.2M | $2.8M |
| Cambio en Capital Circulante | $155000 | $736000 | $2.7M | $2.4M | $1.0M | $5.0M | $10.4M | $2.0M | -$6.0M | -$1.7M |
| Flujo de Caja Operativo | -$1.3M | -$2.2M | -$13.5M | -$27.3M | -$66.3M | -$82.2M | -$135.3M | -$155.0M | -$72.0M | -$57.6M |
| Inversiones (CapEx) | -$4000 | 0 | -$340000 | -$870000 | -$316000 | -$445000 | -$139000 | -$20000 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$9.0M | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$1.3M | -$2.2M | -$13.8M | -$28.1M | -$66.7M | -$82.6M | -$135.5M | -$155.0M | -$72.0M | -$57.6M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | +268.0% | +64.2% | -71.7% | |||||||
| Crecimiento Beneficio Neto (anual) | -114.1% | -324.5% | -67.8% | -154.1% | -30.1% | -55.0% | -8.0% | +66.7% | -17.3% | |
| Crecimiento BPA (anual) | -114.1% | -379.8% | -53.0% | -87.2% | -7.0% | -45.9% | -3.9% | +76.1% | +75.6% | |
| Cambio en Acciones (anual) | +0.0% | -11.5% | +11.8% | +33.1% | +21.6% | +6.2% | +4.0% | +39.2% | +381.6% | |
| Crecimiento FCF (anual) | -69.2% | -530.6% | -103.3% | -136.8% | -23.9% | -64.0% | -14.4% | +53.5% | +20.0% | |
| Margen Bruto | 94.7% | 8.7% | 5.4% | 74.5% | ||||||
| Margen Operativo | -42572.0% | -12448.0% | -2967.6% | -7829.8% | ||||||
| Margen EBITDA | -41924.5% | -11987.0% | -1948.9% | -8195.2% | ||||||
| Margen Neto | -44201.9% | -12974.9% | -2630.1% | -10887.4% | ||||||
| Margen FCF | -36128.0% | -11233.8% | -3178.6% | -8974.3% | ||||||
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $-1.26 | $-2.13 | $-15.21 | $-27.65 | $-49.19 | $-50.11 | $-77.38 | $-85.15 | $-28.41 | $-4.72 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $1.0M | $1.0M | $910722 | $1.0M | $1.4M | $1.6M | $1.8M | $1.8M | $2.5M | $12.2M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | 69.92% |
| Rentabilidad sobre capital invertido | 1144.58% |
| Rentabilidad sobre activos | -246.05% |
| Margen bruto | 45.28% |
| Margen operativo | -6014.42% |
| Margen neto | -9549.87% |
Salud financiera
| Deuda / Patrimonio | -0.90 |
| Ratio corriente | 0.21 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -85.67 | -40.02 | -2.92 | -7.22 | -12.19 | -5.01 | -3.63 | -0.48 | -0.25 | -0.28 |
| P/VC | -560.48 | -184.92 | 1.45 | 8.85 | 4.85 | 2.42 | 7.84 | -1.52 | -0.16 | -0.20 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1604.70 | 62.27 | 6.69 | 30.42 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 94.7% | 8.7% | 5.4% | 74.5% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -42572.0% | -12448.0% | -2967.6% | -7829.8% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -44201.9% | -12974.9% | -2630.1% | -10887.4% |
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Explorar sector: Healthcare · Biotechnology
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