Detailed financial statements for Genelux Corporation (GNLX): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Genelux Corporation is a clinical-stage biopharmaceutical company focused on pioneering advanced oncolytic viral immunotherapies for patients confronting aggressive and/or hard-to-treat solid tumor malignancies. Its leading experimental drug, Olvi-Vec, is a proprietary, engineered vaccinia virus strain being developed to address ovarian cancer and non-small cell lung cancer.
Analysis Summary
Trailing-twelve-month margins: gross margin -17.6%, operating margin -4452.0%, net margin -4224.1%.
At the current price of $2.34, GNLX has negative trailing earnings (P/E not meaningful) and an ROE of -195.42%. Market capitalisation stands at $105M.
Balance sheet quality for GNLX: current ratio of 2.4, net cash position of $12.9M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | $11.1M | $170000 | $8000 | $8000 |
| Cost of Revenue | 0 | $658000 | $895000 | $968000 | $1.0M | $903000 | $574000 |
| Gross Profit | 0 | -$658000 | -$895000 | $10.1M | -$848000 | -$895000 | -$566000 |
| Research & Development | $7.5M | $6.2M | $6.3M | $9.1M | $12.8M | $19.0M | $19.9M |
| Selling, General & Admin | $3.3M | $6.2M | $8.3M | $5.0M | $11.6M | $12.7M | $13.4M |
| Operating Expenses | $10.9M | $11.8M | $13.7M | $13.1M | $23.3M | $30.8M | $32.6M |
| Operating Income | -$10.9M | -$12.4M | -$14.6M | -$3.0M | -$24.2M | -$31.7M | -$33.2M |
| EBITDA | -$10.5M | -$11.8M | -$13.7M | -$1.7M | -$26.5M | -$29.0M | -$31.6M |
| Interest Expense | $761000 | $1.2M | $1.8M | $1.4M | $4.0M | 0 | 0 |
| Pre-tax Income | -$11.6M | -$13.6M | -$16.4M | -$4.1M | -$28.3M | -$29.9M | -$32.1M |
| Income Tax | 0 | 0 | 0 | $1.1M | 0 | 0 | 0 |
| Net Income | -$11.6M | -$14.9M | -$17.8M | -$5.2M | -$28.3M | -$29.9M | -$32.1M |
| EPS | $-0.49 | $-0.58 | $-0.69 | $-0.21 | $-1.16 | $-0.95 | $-0.86 |
| EPS (Diluted) | $-0.49 | $-0.58 | $-0.69 | $-0.21 | $-1.16 | $-0.95 | $-0.86 |
| Shares Outstanding (Diluted) | $23.6M | $23.6M | $23.6M | $24.6M | $24.4M | $31.5M | $37.2M |
Balance Sheet (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $425000 | $11.3M | $4.5M | $397000 | $9.4M | $8.6M | $5.3M |
| Short-term Investments | 0 | 0 | 0 | 0 | $13.8M | $22.3M | $9.3M |
| Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $551000 | $11.5M | $5.8M | $1.9M | $24.2M | $31.5M | $15.1M |
| Property, Plant & Equipment | $2.6M | $2.5M | $2.2M | $2.0M | $3.6M | $3.1M | $3.8M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $3.3M | $14.0M | $8.1M | $5.5M | $27.9M | $34.7M | $19.0M |
| Accounts Payable | 0 | $927000 | $4.5M | $6.8M | $3.8M | $5.6M | $4.4M |
| Short-term Debt | $4.6M | $3.6M | $6.2M | $16.4M | 0 | $329000 | 0 |
| Total Current Liabilities | $14.7M | $14.5M | $22.5M | $31.6M | $6.6M | $6.9M | $6.2M |
| Long-term Debt | $13.0M | $21.7M | $18.0M | $8.5M | 0 | 0 | 0 |
| Total Liabilities | $28.1M | $36.7M | $41.2M | $41.3M | $8.4M | $8.4M | $7.5M |
| Retained Earnings | -$154.6M | -$168.2M | -$184.6M | -$189.8M | -$221.5M | -$251.4M | -$283.5M |
| Total Equity | -$24.8M | -$22.7M | -$33.1M | -$35.8M | $19.5M | $26.3M | $11.5M |
| Total Debt | $18.0M | $26.1M | $25.3M | $26.4M | $2.5M | $1.9M | $1.7M |
| Net Debt | $17.5M | $14.7M | $20.8M | $26.0M | -$20.7M | -$29.0M | -$12.9M |
| Working Capital | -$14.2M | -$3.0M | -$16.7M | -$29.7M | $17.6M | $24.6M | $8.9M |
Cash Flow (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Income | -$11.6M | -$13.6M | -$16.4M | -$5.2M | -$28.3M | -$29.9M | -$32.1M |
| Depreciation & Amortization | $477000 | $658000 | $895000 | $968000 | $1.0M | $903000 | $244000 |
| Stock-based Compensation | 0 | $5.3M | $4.3M | $2.4M | $5.2M | $6.1M | $5.9M |
| Change in Working Capital | $84000 | $381000 | $4.1M | -$1.7M | -$3.3M | $751000 | -$1.0M |
| Operating Cash Flow | -$7.2M | -$7.2M | -$6.6M | -$3.6M | -$20.3M | -$21.2M | -$25.3M |
| Capital Expenditure | -$1.8M | -$20000 | 0 | -$49000 | -$1.0M | -$381000 | -$1.1M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$9.0M | -$7.2M | -$6.6M | -$3.6M | -$21.3M | -$21.6M | -$26.4M |
Growth & Margins (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -98.5% | -95.3% | +0.0% | ||||
| Net Income Growth (YoY) | -27.8% | -19.7% | +70.7% | -443.4% | -5.6% | -7.6% | |
| EPS Growth (YoY) | -18.4% | -19.0% | +69.6% | -452.4% | +18.1% | +9.5% | |
| Shares Change (YoY) | +0.0% | +0.0% | +4.0% | -0.5% | +28.7% | +18.2% | |
| FCF Growth (YoY) | +19.7% | +8.9% | +45.0% | -488.4% | -1.5% | -22.0% | |
| Gross Margin | 91.3% | -498.8% | -11187.5% | -7075.0% | |||
| Operating Margin | -27.2% | -14214.7% | -396200.0% | -415175.0% | |||
| EBITDA Margin | -15.6% | -15562.9% | -362075.0% | -394637.5% | |||
| Net Margin | -47.0% | -16645.3% | -373362.5% | -401812.5% | |||
| FCF Margin | -32.7% | -12529.4% | -270112.5% | -329575.0% | |||
| Effective Tax Rate | -0.0% | -0.0% | -0.0% | -26.8% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| FCF Per Share | $-0.38 | $-0.31 | $-0.28 | $-0.15 | $-0.87 | $-0.69 | $-0.71 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $23.6M | $23.6M | $23.6M | $24.6M | $24.4M | $31.5M | $37.2M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -195.42% |
| Return on Invested Capital | -192.18% |
| Return on Assets | -128.96% |
| Gross Margin | -1762.50% |
| Operating Margin | -445200.00% |
| Net Margin | -422412.50% |
Financial Health
| Debt / Equity | 0.15 |
| Current Ratio | 2.39 |
Key Ratios (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| P/E | -12.55 | -10.60 | -8.91 | -29.29 | -12.08 | -2.48 | -5.07 |
| P/B | -5.85 | -6.41 | -4.39 | -4.22 | 17.58 | 2.82 | 14.04 |
| P/S | 0.00 | 0.00 | 0.00 | 13.64 | 2013.26 | 9277.96 | 20261.21 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 91.3% | -498.8% | -11187.5% | -7075.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | -27.2% | -14214.7% | -396200.0% | -415175.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | -47.0% | -16645.3% | -373362.5% | -401812.5% |
Related companies: ACIU · ALDX · CADL · CLLS · CTNM · DRTS · LXEO
Explore sector: Healthcare · Biotechnology
More sections of GNLX: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Radar — undervalued stock signals · Investment Academy — learn to analyze stocks