Estados financieros detallados de CervoMed Inc. (CRVO): 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 100.0%, margen operativo -96.6%, margen neto -94.1%.
Al precio actual de $2.44, CRVO presenta beneficios negativos (P/E no significativo) y un ROE del -156.02%. La capitalización bursátil es de $23M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | $25342 | $67981 | $110371 | $97915 | $103168 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$25342 | -$67981 | -$110000 | -$97915 | -$103168 | 0 | 0 | 0 | 0 | 0 |
| I+D | $6.3M | $5.1M | $5.8M | $6.6M | $9.4M | $8.5M | $1.3M | $8.4M | $18.8M | $21.8M |
| Generales y Administrativos | $8.6M | $6.2M | $6.2M | $4.8M | $6.4M | $7.4M | $2.1M | $6.5M | $9.2M | $10.5M |
| Gastos Operativos | $14.8M | $11.3M | $11.9M | $11.5M | $15.9M | $24.7M | $3.5M | $7.8M | $18.2M | $28.3M |
| Beneficio Operativo | -$14.9M | -$11.3M | -$12.0M | -$11.6M | -$16.0M | -$24.7M | -$3.5M | -$7.8M | -$18.2M | -$28.3M |
| EBITDA | -$18.3M | $566010 | -$18.7M | -$11.4M | -$15.8M | -$15.9M | -$5.8M | -$2.2M | -$16.3M | -$27.0M |
| Gastos por Intereses | $29686 | $2.9M | 0 | 0 | 0 | 0 | $587 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$18.4M | -$2.4M | -$18.8M | -$11.5M | -$15.9M | -$24.5M | -$5.8M | -$2.2M | -$16.3M | -$27.0M |
| Impuestos | -$365000 | -$1.1M | -$437000 | $332885 | -$1.7M | -$443893 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$18.0M | -$1.4M | -$18.4M | -$11.8M | -$14.2M | -$24.1M | -$5.8M | -$2.2M | -$16.3M | -$27.0M |
| BPA | $-1982.96 | $-123.33 | $-424.93 | $-131.95 | $-22.50 | $-18.51 | $-11.20 | $-0.82 | $-2.02 | $-2.98 |
| BPA Diluido | $-1982.96 | $-120.35 | $-424.93 | $-131.95 | $-22.50 | $-18.51 | $-11.20 | $-0.82 | $-2.02 | $-2.98 |
| Acciones en Circulación (Diluidas) | $9095 | $11338 | $43230 | $89420 | $717759 | $1.3M | $518139 | $2.7M | $8.1M | $9.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $322569 | 0 | 0 | 0 |
| Beneficio Bruto | $322569 | 0 | 0 | 0 |
| Beneficio Operativo | -$8.0M | -$8.3M | -$8.1M | -$6.7M |
| EBITDA | -$7.7M | -$8.1M | -$8.0M | -$6.6M |
| Beneficio Neto | -$7.7M | -$8.1M | -$8.0M | -$6.6M |
| BPA | $-0.84 | $-0.87 | $-0.86 | $-0.64 |
| BPA Diluido | $-0.84 | $-0.87 | $-0.86 | $-0.64 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.6M | $8.9M | $8.0M | $14.2M | $18.5M | $37.3M | $4.1M | $7.8M | $9.0M | $8.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $29.9M | $12.6M |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $915404 | $2.3M | $426993 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $1.6M | $9.7M | $8.9M | $14.6M | $18.8M | $37.8M | $4.2M | $10.0M | $43.1M | $22.6M |
| Inmovilizado Material | $79755 | $460652 | $350281 | $499409 | $298360 | 0 | 0 | 0 | 0 | 0 |
| Fondo de Comercio | $6.9M | $6.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $8.6M | $8.6M | $8.6M | $8.6M | $8.6M | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $17.5M | $26.1M | $18.2M | $24.3M | $27.7M | $37.8M | $4.2M | $10.0M | $43.1M | $23.4M |
| Cuentas por Pagar | $1.7M | $511956 | $198818 | $1.3M | $545844 | $947495 | $97302 | $662471 | $1.5M | $1.5M |
| Deuda a Corto | $1.9M | $550000 | 0 | 0 | 0 | 0 | $12.4M | 0 | 0 | 0 |
| Pasivos Corrientes | $4.4M | $2.7M | $804044 | $1.7M | $2.4M | $2.9M | $13.2M | $2.6M | $3.9M | $4.7M |
| Deuda a Largo | $550000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $8.3M | $4.9M | $2.6M | $4.1M | $2.9M | $2.9M | $13.2M | $2.6M | $3.9M | $5.2M |
| Reservas | -$60.2M | -$61.6M | -$79.9M | -$91.7M | -$105.9M | -$130.0M | -$52.3M | -$54.4M | -$70.7M | -$97.7M |
| Patrimonio Neto | $9.2M | $21.2M | $15.6M | $20.1M | $24.8M | $34.9M | -$9.0M | $7.4M | $39.2M | $18.2M |
| Deuda Total | $2.4M | $550000 | 0 | $247043 | $149162 | 0 | $12.4M | 0 | 0 | 0 |
| Deuda Neta | $877148 | -$8.3M | -$8.0M | -$13.9M | -$18.4M | -$37.3M | $8.3M | -$7.8M | -$38.9M | -$20.9M |
| Capital Circulante | -$2.8M | $7.0M | $8.1M | $12.9M | $16.3M | $34.9M | -$9.0M | $7.4M | $39.2M | $17.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $9.4M | $8.2M | $7.9M | $22.5M |
| Activos Totales | $30.6M | $23.4M | $15.1M | $26.0M |
| Pasivos Totales | $4.6M | $5.2M | $4.5M | $3.0M |
| Patrimonio Neto | $26.0M | $18.2M | $10.6M | $23.0M |
| Deuda Total | 0 | 0 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$18.0M | -$1.4M | -$18.4M | -$11.8M | -$14.2M | -$24.1M | -$5.8M | -$2.2M | -$16.3M | -$27.0M |
| Amortizaciones | $25342 | $67981 | $110371 | $97915 | $103168 | $93416 | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | $736119 | $897260 | $333835 | $407632 | $1.4M | $1.4M |
| Cambio en Capital Circulante | $1.3M | -$2.3M | -$276937 | $994442 | $1.5M | $356373 | $379937 | -$261355 | -$440657 | $2.9M |
| Flujo de Caja Operativo | -$10.8M | -$12.3M | -$10.8M | -$9.9M | -$13.6M | -$14.5M | -$2.6M | -$7.4M | -$16.5M | -$23.4M |
| Inversiones (CapEx) | -$2331 | -$447823 | 0 | 0 | 0 | 0 | -$1 | 0 | 0 | 0 |
| Adquisiciones | $8.5M | 0 | 0 | 0 | 0 | $4000 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$10.8M | -$12.8M | -$10.8M | -$9.9M | -$13.6M | -$14.5M | -$2.6M | -$7.4M | -$16.5M | -$23.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$6.5M | -$6.6M | -$8.0M | -$6.9M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$6.5M | -$6.6M | -$8.0M | -$6.9M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $291717 | 0 | $349196 | $362275 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Beneficio Neto (anual) | | +92.4% | -1245.8% | +35.8% | -20.2% | -69.9% | +75.9% | +62.6% | -650.1% | -65.5% |
| Crecimiento BPA (anual) | | +93.8% | -244.5% | +68.9% | +82.9% | +17.7% | +39.5% | +92.7% | -146.3% | -47.5% |
| Cambio en Acciones (anual) | | +24.7% | +281.3% | +106.8% | +702.7% | +81.4% | -60.2% | +413.6% | +203.4% | +12.0% |
| Crecimiento FCF (anual) | | -18.7% | +15.7% | +8.5% | -37.5% | -7.0% | +82.3% | -189.6% | -121.9% | -41.9% |
| Tasa Impositiva Efectiva | 2.0% | 43.6% | 2.3% | -2.9% | 10.6% | 1.8% | -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 | $-1184.23 | $-1127.20 | $-249.20 | $-110.25 | $-18.88 | $-11.14 | $-4.97 | $-2.80 | $-2.05 | $-2.59 |
| 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) | $9095 | $11064 | $43230 | $89420 | $717759 | $1.3M | $518139 | $2.7M | $8.1M | $9.0M |
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 | -156.02% |
| Rentabilidad sobre capital invertido | -135.73% |
| Rentabilidad sobre activos | -116.76% |
| Margen bruto | 100.00% |
| Margen operativo | -9661.43% |
| Margen neto | -9408.76% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 8.57 |
| Piotroski F-Score | 1 |
| Altman Z-Score | -0.64 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1.28 | -10.76 | -0.35 | -0.26 | -2.67 | -1.26 | -0.68 | -9.30 | -1.16 | -2.65 |
| P/VC | 2.52 | 0.69 | 0.41 | 0.15 | 1.74 | 0.87 | -0.44 | 2.75 | 0.48 | 3.92 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |