One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Obsidian Therapeutics, Inc.
OBX · NCM · Healthcare · Biotechnology
Current price
$11.52
52-week range
$9.60 - $49.97
Market cap
$711.62M
Balance sheet
Healthy
-20.88x Concerning
Net cash $31.54M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
Obsidian Therapeutics, Inc.
Obsidian Therapeutics develops cutting-edge cell and gene therapies to fight serious diseases, like cancer. Their main focus is on treatments you can only access through clinical trials right now, which means they're still testing if these therapies work and are safe, and their money mainly comes from funding for this research and development. This matters because if their therapies prove successful, they could offer new hope to patients with difficult-to-treat conditions.
How the company got here
Obsidian Therapeutics was founded in 2015 by Tariq Kassum with the goal of developing advanced cell and gene therapies for cancer. The company has since focused on building its expertise in oncology and advancing its therapeutic programs. Obsidian has secured significant funding, including $350 million in a private placement alongside its merger with Galera Therapeutics in August 2026, which has supported its development activities and brought its market capitalization to approximately $1.1 billion. This financial backing is crucial for advancing its pipeline through clinical trials and demonstrating the effectiveness of its innovative therapies.
What it actually does
Obsidian Therapeutics is a biotechnology company that develops engineered cell and gene therapies. These are advanced treatments designed to use a patient's own cells, modified to fight diseases, particularly cancer. The company's core technology, called cytoDRiVE, allows for precise control over how these engineered cells function within the body. This control is achieved using readily available, FDA-approved small-molecule drugs, which act like a dimmer switch for the therapeutic proteins within the cells. This approach aims to improve both the effectiveness and safety of these powerful treatments.
Engineered Cell and Gene Therapies (cytoTILs)
Obsidian's primary business revolves around developing engineered tumor-infiltrating lymphocyte (TIL) cell therapies, which they refer to as cytoTILs. These therapies involve taking a patient's own immune cells (T-cells) that have naturally infiltrated a tumor, expanding them in the lab, and then re-infusing them into the patient to fight the cancer. Obsidian's unique approach uses its cytoDRiVE technology to arm these TILs with a component called mbIL15, which helps the cells survive longer and fight the tumor more effectively. The company's lead candidate, OBX-115, is currently being evaluated in clinical trials for advanced melanoma and non-small cell lung cancer. This segment represents the entirety of Obsidian's current development efforts.
What management is betting on now
Obsidian's management is focused on advancing its lead product candidate, OBX-115, through clinical trials and demonstrating its potential to treat solid tumors, particularly advanced melanoma and non-small cell lung cancer. They are leveraging their proprietary cytoDRiVE technology platform to create cell therapies that offer precise control over protein activity, aiming for improved efficacy and safety compared to existing treatments. The company's strategy also involves expanding the clinical reach of OBX-115 into new indications and potentially other solid tumors. Success in these clinical trials is critical for attracting further investment, potential partnerships, and ultimately, for bringing these innovative therapies to patients.
Price history
How the share price has moved
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Is it cheap or expensive?
Fair value — vs current price $11.52
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $31.5M - more cash than debt. Interest coverage -20.9x.
Net debt
$-31.54M
Interest coverage
-20.88x
Obsidian Therapeutics, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
OBX
BASELINE
Obsidian Therapeutics, Inc.
Total debt $2.91M Interest coverage -20.88x This is the baseline the peer rows are being compared against.
Total debt $46.00M Interest coverage -38.64x Neither company has much profit cushion over interest right now.
Total debt $72.04M Interest coverage -7.87x Neither company has much profit cushion over interest right now.
Total debt $9.88M Interest coverage 9.46x This peer still has a real interest-payment cushion, while OBX does not.
What you should know
The case for and against OBX
0 Rewards
1 Risk
Rewards
Risks
-
Insider ownership is only 0.8% (peer median: 3.0%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-5.41x
P/B
-0.85x
P/S
—
EV/EBITDA
-9.30x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
0.0%
Net margin
0.0%
ROE
—
ROA
—
Health
Liquidity and balance-sheet strength
Debt / equity
0.10x
Current ratio
2.29x
Quick ratio
1.71x
Total debt
$2.91M
Total cash
$34.45M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
—
EPS TTM
-1.63
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-90.39M
Free CF TTM
$-90.47M
FCF margin
—
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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