What is PDS Biotechnology Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, PDS Biotechnology's Probability of Financial Distress (%) is 0.24%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of PDS Biotechnology's Probability of Financial Distress (%)
For the Biotechnology subindustry, PDS Biotechnology's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
PDS Biotechnology's Probability of Financial Distress (%) Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, PDS Biotechnology's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where PDS Biotechnology's Probability of Financial Distress (%) falls into.
PDS Biotechnology Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | -6.02 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.24% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
PDS Biotechnology (PDS Biotechnology) Business Description
Traded in Other Exchanges
Address
25B Vreeland Road, Suite 300, Florham Park, NJ, USA, 07932
PDS Biotechnology Corp operates as a clinical-stage biotechnology company, principally involved in drug discovery in the United States. It is engaged in the treatment of various early-stage and late-stage cancers, including head and neck cancer, prostate cancer, breast cancer, cervical cancer, anal cancer, and other cancers. Its products are based on the proprietary Versamune platform technology, which activates and directs the human immune system to unleash a powerful and targeted attack against cancer cells.
Executives
| Spencer D. Brown |
officer: Senior VP, General Counsel |
25B VREELAND ROAD, SUITE 300, FLORHAM PARK NJ 07932 |
| Matthew C Hill |
officer: Chief Financial Officer |
C/O STRATA SKIN SCIENCES, INC., 5 WALNUT GROVE DRIVE, SUITE 140, HORSHAM PA 19044 |
| Delyle W Bloomquist |
director, 10 percent owner |
RAYONIER ADVANCED MATERIALS INC., 1301 RIVERPLACE BLVD., SUITE 2300, JACKSONVILLE FL 32207 |
| Voorhees Seth Van |
officer: Chief Financial Officer |
12 HARVEY DRIVE, SHORT HILLS NJ 07078 |
| Kamil Ali-jackson |
director |
C/O ACLARIS THERAPEUTICS, INC., 101 LINDENWOOD DRIVE, SUITE 400, MALVERN PA 19355 |
| Gregory Gene Freitag |
director |
13631 PROGRESS BLVD., ALACHUA FL 32615 |
| Stephen C. Glover |
director |
108 DOCKSIDE CIRCLE, WESTON FL 33327 |
| Otis W Brawley |
director |
5203 BRISTOL INDUSTRIAL WAY, BUFORD GA 30518 |
| Michael N. King |
officer: Interim Chief Financial Office |
303A COLLEGE ROAD EAST, PRINCETON NJ 08540 |
| Ilian Iliev |
director |
303 A COLLEGE ROAD EAST, PRINCETON NJ 08540 |
| Janetta Trochimiuk |
officer: Principal Accounting Officer |
303A COLLEGE ROAD EAST, PRINCETON NJ 08540 |
| Richard Sykes |
director |
C/O PDS BIOTECHNOLOGY CORPORATION, 25B VREELAND ROAD, FLORHAM PARK NJ 07932 |
| Frank Bedu-addo |
director, 10 percent owner, officer: President/CEO |
300 CONNELL DRIVE, SUITE 400, BERKELEY HEIGHTS NJ 07922 |
| Lauren Wood |
officer: Chief Medical Officer |
300 CONNELL DRIVE, SUITE 4000, BERKELEY HEIGHTS NJ 07922 |
| Gregory Conn |
officer: Chief Scientific Officer |
300 CONNELL DRIVE, SUITE 4000, BERKELEY HEIGHTS NJ 07922 |
PDS Biotechnology (PDS Biotechnology) Headlines
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