Estados financieros detallados de PepGen Inc. (PEPG): 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 $2.90, PEPG presenta beneficios negativos (P/E no significativo) y un ROE del -51.01%. La capitalización bursátil es de $201M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | $106000 | 0 | 0 | 0 | $1.2M | $1.5M | $1.4M |
| Beneficio Bruto | -$106000 | 0 | 0 | 0 | -$1.2M | -$1.5M | -$1.4M |
| I+D | $620000 | $1.1M | $23.8M | $54.1M | $68.1M | $76.5M | $71.0M |
| Generales y Administrativos | $628000 | $853000 | $8.1M | $14.2M | $16.6M | $21.3M | $22.6M |
| Gastos Operativos | $1.2M | $1.9M | $27.1M | $68.3M | $83.6M | $96.2M | $92.2M |
| Beneficio Operativo | -$1.4M | -$1.9M | -$27.1M | -$68.3M | -$84.8M | -$97.7M | -$93.6M |
| EBITDA | -$1.2M | -$1.8M | -$27.1M | -$64.9M | -$77.4M | -$89.1M | -$88.2M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$1.3M | -$1.9M | -$27.3M | -$65.4M | -$78.6M | -$90.6M | -$89.6M |
| Impuestos | 0 | 0 | 0 | $3.7M | $73000 | -$617000 | $49000 |
| Beneficio Neto | -$1.3M | -$1.9M | -$27.3M | -$69.1M | -$78.6M | -$90.0M | -$89.7M |
| BPA | $-0.06 | $-0.53 | $-1.22 | $-4.42 | $-3.30 | $-2.85 | $-2.12 |
| BPA Diluido | $-0.06 | $-0.18 | $-1.22 | $-4.42 | $-3.30 | $-2.85 | $-2.12 |
| Acciones en Circulación (Diluidas) | $22.4M | $22.4M | $22.4M | $15.6M | $23.8M | $31.6M | $42.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$339000 | -$1.1M | -$319000 | 0 |
| Beneficio Operativo | -$18.7M | -$19.7M | -$18.9M | -$18.9M |
| EBITDA | -$17.7M | -$19.1M | -$17.4M | -$13.6M |
| Beneficio Neto | -$18.0M | -$18.3M | -$17.8M | -$17.8M |
| BPA | $-0.55 | $-0.43 | $-0.26 | $-0.26 |
| BPA Diluido | $-0.55 | $-0.43 | $-0.26 | $-0.26 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $3.5M | $9.8M | $132.9M | $181.8M | $80.8M | $49.4M | $60.5M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | $29.6M | $70.8M | $87.9M |
| Cuentas por Cobrar | $230000 | $407000 | $4.7M | $58000 | 0 | 0 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $3.8M | $10.3M | $140.0M | $186.1M | $112.7M | $123.8M | $151.0M |
| Inmovilizado Material | $419000 | $323000 | $636000 | $29.9M | $28.4M | $25.1M | $21.0M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $4.2M | $10.6M | $143.6M | $217.4M | $143.1M | $150.9M | $173.9M |
| Cuentas por Pagar | $141000 | $721000 | $3.2M | $1.4M | $1.0M | $1.8M | $822000 |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $326000 | $838000 | $10.3M | $18.8M | $17.5M | $16.7M | $12.6M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | $13.8M |
| Pasivos Totales | $326000 | $868000 | $10.5M | $37.8M | $34.6M | $32.3M | $26.5M |
| Reservas | -$2.4M | -$6.5M | -$33.8M | -$102.9M | -$181.5M | -$271.5M | -$361.1M |
| Patrimonio Neto | $3.9M | $9.8M | $133.1M | $179.6M | $108.4M | $118.6M | $147.4M |
| Deuda Total | 0 | 0 | 0 | $24.5M | $20.1M | $18.7M | $17.0M |
| Deuda Neta | -$3.5M | -$9.8M | -$132.9M | -$157.2M | -$90.3M | -$101.5M | -$131.5M |
| Capital Circulante | $3.4M | $9.5M | $129.7M | $167.3M | $95.1M | $107.1M | $138.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $142.8M | $60.5M | $42.1M | $22.8M |
| Activos Totales | $190.1M | $173.9M | $156.3M | $141.4M |
| Pasivos Totales | $26.9M | $26.5M | $22.3M | $21.9M |
| Patrimonio Neto | $163.1M | $147.4M | $134.0M | $119.5M |
| Deuda Total | $17.4M | $17.0M | $16.6M | $16.1M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$1.3M | -$1.9M | -$27.3M | -$69.1M | -$78.6M | -$90.0M | -$89.7M |
| Amortizaciones | $106000 | $110000 | $178000 | $493000 | $850000 | $5.3M | $5.1M |
| Compensación en Acciones | 0 | $119000 | $1.5M | $4.8M | $7.0M | $11.5M | $10.6M |
| Cambio en Capital Circulante | $296000 | $8000 | $2.8M | $4.5M | $2.0M | -$5.2M | -$6.2M |
| Flujo de Caja Operativo | -$885000 | -$1.7M | -$22.6M | -$59.3M | -$69.0M | -$82.4M | -$81.6M |
| Inversiones (CapEx) | -$29000 | -$8000 | -$500000 | -$3.8M | -$2.6M | -$497000 | -$264000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$914000 | -$1.7M | -$23.1M | -$63.0M | -$71.6M | -$82.9M | -$81.9M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$19.3M | -$15.8M | -$18.4M | -$15.8M |
| Inversiones (CapEx) | -$97000 | $1000 | 0 | -$30000 |
| Flujo de Caja Libre | -$19.4M | -$15.8M | -$18.4M | -$15.8M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.4M | $2.4M | $2.9M | $3.3M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Beneficio Neto (anual) | | -40.3% | -1344.2% | -153.3% | -13.8% | -14.4% | +0.4% |
| Crecimiento BPA (anual) | | -781.9% | -130.2% | -262.3% | +25.3% | +13.6% | +25.6% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | -30.2% | +52.2% | +32.7% | +33.7% |
| Crecimiento FCF (anual) | | -81.6% | -1291.5% | -172.8% | -13.6% | -15.7% | +1.2% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -5.7% | -0.1% | 0.7% | -0.1% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.04 | $-0.07 | $-1.03 | $-4.03 | $-3.01 | $-2.62 | $-1.94 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $22.4M | $7.7M | $22.4M | $15.6M | $23.8M | $31.6M | $42.2M |
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 | -51.01% |
| Rentabilidad sobre capital invertido | -56.21% |
| Rentabilidad sobre activos | -50.88% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.13 |
| Ratio corriente | 13.36 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -214.48 | -24.32 | -10.57 | -3.02 | -2.06 | -1.33 | -3.07 |
| P/VC | 74.64 | 10.18 | 2.17 | 1.16 | 1.49 | 1.01 | 1.86 |
| P/V | 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% |
| Margen Operativo | 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% |