Detailed financial statements for GT Biopharma, Inc. (GTBP): 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.
GT Biopharma, Inc. is a biopharmaceutical company in the clinical development phase, dedicated to discovering and bringing to market novel immuno-oncology treatments. Their innovative approach centers on a proprietary technology platform called Tri-specific Killer Engager (TriKE) fusion proteins, which are designed to harness the body's immune cells.
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $7.81, GTBP has negative trailing earnings (P/E not meaningful) and an ROE of -443.08%. Market capitalisation stands at $10M.
Balance sheet quality for GTBP: current ratio of 3.5. 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 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | $1000 | $2000 | $7000 | $4000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | -$1000 | -$2000 | -$7000 | -$4000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Research & Development | $975000 | $1.1M | $9.1M | $1.7M | $485000 | $9.6M | $8.8M | $6.5M | $5.8M | $3.5M |
| Selling, General & Admin | $8.4M | $134.5M | $12.5M | $9.8M | $6.3M | $47.9M | $12.4M | $7.1M | $8.6M | $8.9M |
| Operating Expenses | $9.4M | $135.6M | $21.6M | $11.5M | $6.8M | $57.5M | $21.3M | $13.6M | $14.4M | $12.4M |
| Operating Income | -$9.4M | -$135.6M | -$250.1M | -$11.5M | -$6.8M | -$57.5M | -$21.3M | -$13.6M | -$14.4M | -$12.4M |
| EBITDA | -$9.4M | -$135.6M | -$250.1M | -$36.5M | -$25.0M | -$57.5M | -$21.0M | $6.0M | -$13.2M | -$28.2M |
| Interest Expense | $6.6M | $8.6M | $9.1M | $2.1M | $3.3M | $718000 | $8000 | $213000 | 0 | $127000 |
| Pre-tax Income | $9.8M | -$144.2M | -$259.2M | -$38.6M | -$28.3M | -$58.0M | -$20.9M | -$7.6M | -$13.2M | -$28.4M |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | $9.8M | -$144.2M | -$259.2M | -$38.6M | -$28.3M | -$58.0M | -$20.9M | -$7.6M | -$13.2M | -$28.4M |
| EPS | $1530000.00 | $-3630.50 | $-2192.50 | $-285.50 | $-161.25 | $-51.50 | $-16.50 | $-141.00 | $-173.50 | $-156.25 |
| EPS (Diluted) | $1530000.00 | $-3630.50 | $-2192.50 | $-285.50 | $-161.25 | $-51.50 | $-16.50 | $-141.00 | $-173.50 | $-156.25 |
| Shares Outstanding (Diluted) | $6 | $39457 | $118200 | $135400 | $175400 | $1.1M | $1.3M | $53920 | $75880 | $220530 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $19000 | $576000 | $60000 | $28000 | $5.3M | $9.0M | $5.7M | $1.1M | $4.0M | $6.8M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | $23.0M | $10.8M | $12.9M | 0 | 0 |
| Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $21000 | $576000 | $90000 | $274000 | $5.7M | $32.2M | $16.6M | $14.1M | $4.2M | $8.1M |
| Property, Plant & Equipment | $4000 | $6000 | $35000 | $110000 | 0 | 0 | $165000 | $53000 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | $253.8M | $25.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $25000 | $254.4M | $25.4M | $396000 | $5.7M | $32.2M | $16.7M | $14.1M | $4.2M | $8.1M |
| Accounts Payable | $2.1M | $2.5M | $1.8M | $1.9M | $2.2M | $8.2M | $3.1M | $4.3M | $3.9M | $748000 |
| Short-term Debt | $12.4M | $31000 | $10.8M | $13.2M | $26.3M | $31000 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | $18.9M | $2.7M | $14.0M | $19.7M | $35.1M | $10.3M | $4.9M | $6.6M | $5.9M | $2.3M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $18.9M | $2.7M | $14.0M | $19.7M | $35.1M | $10.3M | $5.0M | $6.6M | $5.9M | $2.3M |
| Retained Earnings | -$124.6M | -$269.5M | -$528.7M | -$567.3M | -$595.6M | -$653.6M | -$674.5M | -$682.1M | -$695.2M | -$723.9M |
| Total Equity | -$18.8M | $251.9M | $11.5M | -$19.1M | -$29.3M | $21.9M | $11.7M | $7.5M | -$1.7M | $5.8M |
| Total Debt | $12.4M | $31000 | $10.8M | $13.4M | $26.3M | $31000 | $174000 | $58000 | 0 | 0 |
| Net Debt | $12.4M | -$545000 | $10.7M | $13.3M | $21.0M | -$31.9M | -$16.3M | -$13.9M | -$4.0M | -$6.8M |
| Working Capital | -$18.9M | -$2.1M | -$13.9M | -$19.4M | -$29.4M | $21.9M | $11.6M | $7.4M | -$1.7M | $5.8M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $21.0M | -$143.2M | -$259.2M | -$38.6M | -$28.3M | -$58.0M | -$20.9M | -$7.6M | -$13.2M | -$28.4M |
| Depreciation & Amortization | $1000 | $2000 | $7000 | $4000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $6.6M | $130.1M | $9.7M | $5.3M | $269000 | $33.9M | $7.6M | $2.2M | $230000 | $432000 |
| Change in Working Capital | $2.8M | $1.4M | $111000 | $4.1M | $2.4M | $7.9M | -$2.0M | $1.8M | $828000 | -$920000 |
| Operating Cash Flow | -$1.9M | -$5.4M | -$10.7M | -$3.7M | -$7.3M | -$15.6M | -$15.2M | -$8.9M | -$12.9M | -$12.9M |
| Capital Expenditure | 0 | -$4000 | -$36000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | -$224000 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$229000 |
| Free Cash Flow | -$1.9M | -$5.4M | -$10.7M | -$3.7M | -$7.3M | -$15.6M | -$15.2M | -$8.9M | -$12.9M | -$12.9M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income Growth (YoY) | -1576.0% | -79.8% | +85.1% | +26.8% | -105.0% | +64.0% | +63.6% | -73.3% | -115.4% | |
| EPS Growth (YoY) | -100.2% | +39.6% | +87.0% | +43.5% | +68.1% | +68.0% | -754.5% | -23.0% | +9.9% | |
| Shares Change (YoY) | +657516.7% | +199.6% | +14.6% | +29.5% | +542.1% | +13.2% | -95.8% | +40.7% | +190.6% | |
| FCF Growth (YoY) | -181.6% | -97.1% | +65.8% | -98.5% | -114.9% | +2.5% | +41.8% | -45.8% | -0.1% | |
| Effective Tax Rate | 0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-321666.67 | $-137.72 | $-90.63 | $-27.02 | $-41.40 | $-13.86 | $-11.94 | $-164.17 | $-170.06 | $-58.56 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.04 |
| Shares Outstanding (Basic) | $6 | $39457 | $118200 | $135400 | $175400 | $1.1M | $1.3M | $53880 | $75880 | $220530 |
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 | -443.08% |
| Return on Invested Capital | -457.75% |
| Return on Assets | -381.53% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 2.61 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -128.11 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 0.24 | -15.63 | -3.78 | -3.62 | -33.53 | -44.42 | -40.26 | -1.36 | -0.44 | -0.13 |
| P/B | -0.12 | 8.89 | 84.89 | -7.31 | -32.40 | 117.58 | 72.16 | 1.38 | -3.46 | 0.75 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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Explore sector: Healthcare · Biotechnology
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