Estados financieros detallados de Ernexa Therapeutics Inc. (ERNA): 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 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $3.91, ERNA presenta beneficios negativos (P/E no significativo) y un ROE del -305.85%. La capitalización bursátil es de $1M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $22.3M | $21.3M | $23.3M | $19.8M | 0 | 0 | 0 | $68000 | $582000 | 0 |
| Coste de Ventas | $8.1M | $7.1M | $8.4M | $7.8M | $98000 | 0 | 0 | $236000 | $96000 | 0 |
| Beneficio Bruto | $14.2M | $14.2M | $14.9M | $12.0M | -$98000 | 0 | 0 | -$168000 | $486000 | 0 |
| I+D | 0 | $139000 | $72000 | $26000 | $4.0M | $12.7M | $10.4M | $5.9M | $4.6M | $4.2M |
| Generales y Administrativos | $16.5M | $15.4M | $14.4M | $13.1M | $3.3M | $14.7M | $16.6M | $14.6M | $13.1M | $5.2M |
| Gastos Operativos | $16.5M | $15.6M | $14.5M | $13.2M | $7.2M | $113.7M | $33.2M | $21.0M | $16.2M | $9.3M |
| Beneficio Operativo | -$2.3M | -$1.4M | $464000 | -$1.2M | -$7.2M | -$113.7M | -$33.2M | -$21.1M | -$15.7M | -$9.3M |
| EBITDA | $609000 | $915000 | $3.2M | $1.4M | -$26.4M | -$121.9M | -$24.0M | -$19.9M | -$36.1M | -$13.8M |
| Gastos por Intereses | $576000 | $498000 | $389000 | $249000 | $43000 | $74000 | $30000 | $614000 | $6.8M | $27000 |
| Beneficio Antes de Impuestos | -$2.9M | -$1.0M | -$323000 | -$2.0M | -$26.5M | -$122.5M | -$24.5M | -$21.7M | -$44.5M | -$14.1M |
| Impuestos | $38000 | $66000 | -$64000 | $27000 | 0 | $64000 | $45000 | -$3000 | $30000 | -$45000 |
| Beneficio Neto | -$2.9M | -$1.1M | -$259000 | -$2.0M | $11.9M | -$122.5M | -$24.6M | -$21.7M | -$44.5M | -$14.1M |
| BPA | $-1536.00 | $-441.00 | $-96.25 | $-712.00 | $-87.75 | $-1415.25 | $-201.50 | $-102.00 | $-39.25 | $-56.00 |
| BPA Diluido | $-1536.00 | $-441.00 | $-96.25 | $-712.00 | $-87.75 | $-1415.25 | $-201.50 | $-102.00 | $-39.25 | $-56.00 |
| Acciones en Circulación (Diluidas) | $1903 | $2442 | $2688 | $2875 | $69314 | $86600 | $122040 | $212560 | $1.1M | $252280 |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | 0 | -$86000 | 0 |
| Beneficio Operativo | -$2.0M | -$2.1M | -$3.5M | -$4.1M |
| EBITDA | -$1.2M | -$6.8M | -$5.5M | -$4.0M |
| Beneficio Neto | -$1.2M | -$1.5M | -$5.5M | -$4.0M |
| BPA | $-3.75 | $-4.75 | $-6.95 | $-3.40 |
| BPA Diluido | $-3.75 | $-4.75 | $-6.95 | $-3.40 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5.7M | $3.4M | $2.6M | $3.3M | $1.6M | $17.0M | $11.4M | $7.6M | $1.7M | $1.9M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $928000 | $714000 | $1.1M | $1.2M | 0 | $684000 | $951000 | $425000 | $437000 | $95000 |
| Inventario | $3.0M | $4.9M | $2.5M | $1.1M | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $10.7M | $9.6M | $6.8M | $6.1M | $1.7M | $18.8M | $13.7M | $9.6M | $2.4M | $3.1M |
| Inmovilizado Material | $3.1M | $3.7M | $4.7M | $4.9M | $2.7M | $3.2M | $1.3M | $33.3M | $755000 | $547000 |
| Fondo de Comercio | $937000 | $1.0M | $667000 | $696000 | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M |
| Activos Intangibles | 0 | 0 | 0 | $1.9M | $6.0M | $6.0M | 0 | 0 | 0 | 0 |
| Activos Totales | $17.1M | $16.6M | $14.9M | $15.3M | $12.9M | $31.5M | $22.3M | $49.1M | $5.3M | $5.8M |
| Cuentas por Pagar | $247000 | $390000 | $271000 | $835000 | $1.3M | $1.8M | $1.6M | $1.1M | $1.7M | $1.1M |
| Deuda a Corto | $3.1M | $5.2M | $1.0M | $3.2M | $526000 | 0 | $1.8M | 0 | $207000 | $213000 |
| Pasivos Corrientes | $6.6M | $10.7M | $4.0M | $6.1M | $3.1M | $3.7M | $7.7M | $6.6M | $2.9M | $3.1M |
| Deuda a Largo | $5.1M | $8000 | $2.7M | 0 | $194000 | 0 | $1.2M | $6.8M | 0 | 0 |
| Pasivos Totales | $13.1M | $11.0M | $7.9M | $10.2M | $5.2M | $6.0M | $10.2M | $46.9M | $3.6M | $3.4M |
| Reservas | -$128.0M | -$129.1M | -$129.4M | -$131.5M | -$18.1M | -$140.7M | -$165.3M | -$187.0M | -$231.5M | -$245.6M |
| Patrimonio Neto | $4.1M | $5.5M | $6.9M | $5.1M | $7.7M | $25.5M | $12.1M | $2.2M | $1.7M | $2.4M |
| Deuda Total | $8.5M | $5.4M | $3.8M | $6.1M | $2.9M | $2.7M | $4.1M | $41.8M | $684000 | $490000 |
| Deuda Neta | $2.8M | $2.0M | $1.2M | $2.8M | $1.3M | -$14.3M | -$7.3M | $34.3M | -$1.0M | -$1.4M |
| Capital Circulante | $4.0M | -$1.1M | $2.8M | -$25000 | -$1.4M | $15.1M | $6.0M | $3.0M | -$586000 | $20000 |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $3.0M | $1.9M | $9.2M | $5.0M |
| Activos Totales | $6.2M | $5.8M | $10.5M | $6.3M |
| Pasivos Totales | $2.6M | $3.4M | $3.7M | $3.1M |
| Patrimonio Neto | $3.6M | $2.4M | $6.9M | $3.2M |
| Deuda Total | $552000 | $490000 | $389000 | $349000 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$2.9M | -$1.1M | -$259000 | -$2.0M | -$26.5M | -$122.5M | -$24.6M | -$21.7M | -$44.5M | -$14.1M |
| Amortizaciones | $2.9M | $2.3M | $2.8M | $3.2M | $98000 | $459000 | $497000 | $1.1M | $1.6M | $263000 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | $5.2M | $2.9M | $1.2M | $1.5M | $1.5M |
| Cambio en Capital Circulante | -$571000 | -$1.7M | -$2.3M | -$37000 | -$999000 | -$2.3M | $3.7M | -$2.1M | -$2.0M | -$51000 |
| Flujo de Caja Operativo | $23000 | $549000 | $1.4M | $2.7M | -$8.1M | -$23.5M | -$21.0M | -$20.4M | -$15.8M | -$7.0M |
| Inversiones (CapEx) | -$840000 | -$1.5M | -$1.6M | -$1.1M | -$39000 | -$154000 | -$297000 | -$19000 | -$369000 | -$37000 |
| Adquisiciones | 0 | 0 | $33000 | $29000 | 0 | -$22.7M | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$16000 | -$16000 | -$16000 | -$16000 | 0 | -$8000 | -$16000 | -$16000 | 0 | 0 |
| Flujo de Caja Libre | -$817000 | -$903000 | -$247000 | $1.6M | -$8.1M | -$23.6M | -$21.3M | -$20.4M | -$16.2M | -$7.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$1.3M | -$1.1M | -$2.3M | -$4.2M |
| Inversiones (CapEx) | -$22000 | -$15000 | -$2000 | -$3000 |
| Flujo de Caja Libre | -$1.3M | -$1.2M | -$2.3M | -$4.2M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | $333000 | $309000 | $320000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -4.7% | +9.7% | -15.1% | -100.0% | | | | +755.9% | -100.0% |
| Crecimiento Beneficio Neto (anual) | | +63.2% | +76.0% | -690.3% | +681.6% | -1129.3% | +79.9% | +11.8% | -105.6% | +68.4% |
| Crecimiento BPA (anual) | | +71.3% | +78.2% | -639.7% | +87.7% | -1512.8% | +85.8% | +49.4% | +61.5% | -42.7% |
| Cambio en Acciones (anual) | | +28.3% | +10.1% | +7.0% | +2310.9% | +24.9% | +40.9% | +74.2% | +434.4% | -77.8% |
| Crecimiento FCF (anual) | | -10.5% | +72.6% | +768.0% | -593.3% | -190.4% | +10.0% | +4.0% | +20.7% | +56.5% |
| Margen Bruto | 63.6% | 66.7% | 64.1% | 60.4% | | | | -247.1% | 83.5% | |
| Margen Operativo | -10.2% | -6.6% | 2.0% | -6.1% | | | | -31080.9% | -2693.1% | |
| Margen EBITDA | 2.7% | 4.3% | 13.8% | 7.1% | | | | -29314.7% | -6206.0% | |
| Margen Neto | -13.1% | -5.1% | -1.1% | -10.3% | | | | -31864.7% | -7652.7% | |
| Margen FCF | -3.7% | -4.2% | -1.1% | 8.3% | | | | -30039.7% | -2784.4% | |
| Tasa Impositiva Efectiva | -1.3% | -6.5% | 19.8% | -1.3% | -0.0% | -0.1% | -0.2% | 0.0% | -0.1% | 0.3% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-429.32 | $-369.78 | $-91.89 | $573.91 | $-117.44 | $-273.00 | $-174.31 | $-96.10 | $-14.27 | $-27.96 |
| Dividendo por Acción | $8.41 | $6.55 | $5.95 | $5.57 | $0.00 | $0.09 | $0.13 | $0.08 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $1903 | $2442 | $2688 | $2875 | $69314 | $86600 | $122040 | $212560 | $1.1M | $252280 |
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 | -305.85% |
| Rentabilidad sobre capital invertido | -328.05% |
| Rentabilidad sobre activos | -194.09% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.11 |
| Ratio corriente | 2.01 |
| Piotroski F-Score | 4 |
| Altman Z-Score | -62.89 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -83.01 | -143.20 | -303.90 | -46.35 | -382.91 | -22.10 | -5.99 | -6.62 | -2.81 | -0.54 |
| P/VC | 59.64 | 27.86 | 11.37 | 18.64 | 304.08 | 106.20 | 12.17 | 64.25 | 73.62 | 3.15 |
| P/V | 10.87 | 7.25 | 3.37 | 4.79 | 0.00 | 0.00 | 0.00 | 2109.97 | 215.18 | 0.00 |
| Margen Bruto | 63.6% | 66.7% | 64.1% | 60.4% | 0.0% | 0.0% | 0.0% | -247.1% | 83.5% | 0.0% |
| Margen Operativo | -10.2% | -6.6% | 2.0% | -6.1% | 0.0% | 0.0% | 0.0% | -31080.9% | -2693.1% | 0.0% |
| Margen Neto | -13.1% | -5.1% | -1.1% | -10.3% | 0.0% | 0.0% | 0.0% | -31864.7% | -7652.7% | 0.0% |