Prog Stock : Progeny fits pretty much every definition of penny stocks: it has shares that are priced at a bargain and a small capitalization, and is as volatile as you can get. Find the right moment and you’ll quickly increase your capital.
OR PROG stock could drop to zero. As we’ll discover that the stock is in a long and persistent decline. In the meantime it’s possible that the possibility of a Reddit-fueled surge could be coming for Progenity. We’ll start with a brief and admit it, cringe-inducing record of this rapid-moving biotech stock.
Changing the Focus
Another issue is the fact that Progenity recently announced that it would shift its focus away from prenatal screening kits to its biotech pipeline. The move could decrease Progenity’s operating expenses by 70%..
That’s promising. However, investors could be worried that the move is risky since it’s likely to decrease the revenue of the company. However, Progenity could be able to create a new and robust revenue stream in the near future, since Progenity has been granted a major patent by the United States Patent and Trademark Office.
The patent covers Progenity’s dissociated Placental growth factor (PlGF) test, also known as Preecludia. It’s used to test those who suffer from preeclampsia (a potential fatal pregnancy-related concomitant to pregnancy). According to Progenity it is the Preecludia test is anticipated to have an addressable market worth approximately $3 billion annually within the U.S. So, the patent application for Preecludia is a significant advancement for Progenity.
In the future, Progenity Chief Scientific Officer Matthew Cooper anticipates that the company will explore “partnership opportunities for commercialization” of the Preecludia test.
Biora Therapeutics Returns vs. S&P
| 1 YEAR | 5 YEAR | 5 YEAR ANNUALIZED | SINCE IPO | |
|---|---|---|---|---|
| PROG | -89.39% | -99% | ||
| S&P | -14.16% | +43.53% | +7.49% | +29% |
Assets
| Q3 2022 | YOY CHANGE | |
|---|---|---|
| Net Cash | $37.06M | -31.5% |
| Accounts Receivable | $0.00M | – |
| Inventory | 0 | – |
Liabilities
QUARTERLYANNUAL
| Q3 2022 | YOY CHANGE | |
|---|---|---|
| Long Term Debt | $128.09M | -18.5% |
| Short Term Debt | $1.23M | +1,021.8% |
Ratios
QUARTERLYANNUAL
| Q3 2022 | YOY CHANGE | |
|---|---|---|
| Return On Assets | -147.4% | -13.9% |
| Return On Invested Capital | 72.1% | -61.7% |
Cash Flow
QUARTERLYANNUAL
| Q3 2022 | YOY CHANGE | |
|---|---|---|
| Free Cash Flow | -$9.97M | -77.0% |
| Operating Free Cash Flow | -$9.81M | -77.3% |
Valuation
QUARTERLYANNUAL
| Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | YOY CHANGE | |
|---|---|---|---|---|---|
| Price to Earnings | – | – | – | – | – |
| Price to Book | -4.47 | -2.29 | -1.36 | -0.94 | -8.4% |
| Price to Sales | 13.56 | 179.03 | 155.87 | 124.87 | +2,363.9% |
| Price to Tangible Book Value | -35.30 | -57.93 | -32.48 | -22.10 | +3.6% |
| Price to Free Cash Flow TTM | – | – | – | – | – |
| Enterprise Value to EBITDA | -19.46 | -13.96 | -14.95 | -13.37 | +63.6% |
| Free Cash Flow Yield | – | – | – | – | – |
| Return on Equity | – | – | – | – | – |
| Total Debt | $126.40M | $128.17M | $128.55M | $129.33M | -17.8% |
