One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Instil Bio, Inc.
TIL · NCM · Healthcare · Biotechnology
Current price
$7.07
52-week range
$5.67 - $21.98
Market cap
$47.95M
Balance sheet
Distressed
-10.31x Concerning
Net debt $17.74M. 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
Instil Bio, Inc.
Instil Bio is a medical research company that develops new treatments for cancer by finding promising experimental drugs from other labs and investing in them. It currently makes no money from sales because its therapies are still being tested in clinical trials (studies to see if a drug is safe and effective in humans). The company's success depends entirely on whether these treatments are eventually approved by regulators and can be sold to patients.
How the company got here
Instil Bio was founded in 2018 with a focus on developing a special type of cancer therapy using a patient's own immune cells, called TIL therapy. After a few years of research, the company shifted its strategy in late 2022, discontinuing its main projects to focus on a newer, genetically engineered version of the therapy. To save money and refocus, the company reduced its workforce and closed its UK operations. More recently, in early 2026, the company stopped development of another potential drug it had licensed, clearing its pipeline (the set of drugs in development) and starting a search for new therapeutic opportunities.
What it actually does
Instil Bio is a clinical-stage biopharmaceutical company, which means it works on developing new medicines that are still being tested in human studies (clinical trials) and are not yet available for sale. Its main business is to identify promising new drugs being developed by others and then acquire or license them to continue the development process. The company's goal is to find treatments for serious diseases where patients don't have enough good options. Because its drugs are still in development, it does not currently sell any products to patients.
Research & Development
The company currently has one primary business focus: researching and developing new medicines. Because it is a clinical-stage company, it does not yet have any approved products to sell and therefore does not generate revenue (money from sales). Its activities are funded by money raised from investors. The company's main efforts are centered on finding and acquiring new drug candidates to build a pipeline (the portfolio of drugs a company is developing) and running the necessary clinical trials to test their safety and effectiveness.
What management is betting on now
After clearing its previous pipeline, management's main focus is now on business development, which means actively searching for new drugs to buy or license from other companies. The leadership team is using its cash reserves to evaluate and acquire new therapeutic candidates to rebuild the company's portfolio of potential medicines. They are betting that by carefully selecting and investing in promising new assets, they can develop successful treatments for diseases with significant unmet medical needs. The company has stated it has enough cash (often called a cash runway) to fund these search efforts and its operations for the next few years.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-20.13M
FY2024 Q4
$-10.56M
Revenue
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Net income
$-4.30M
Diluted EPS
-0.63
Operating cash flow
$-4.64M
Free cash flow
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Sources
Revenue
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Net income
$-4.20M
Diluted EPS
-0.62
Operating cash flow
$-1.34M
Free cash flow
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Sources
Revenue
—
Net income
$-8.19M
Diluted EPS
-1.13
Operating cash flow
$-7.08M
Free cash flow
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Sources
Revenue
—
Net income
$-13.59M
Diluted EPS
-2.01
Operating cash flow
$-10.56M
Free cash flow
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Sources
Revenue
—
Net income
$-21.39M
Diluted EPS
-3.24
Operating cash flow
$-14.79M
Free cash flow
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Sources
Revenue
—
Net income
$-28.20M
Diluted EPS
-4.32
Operating cash flow
$-4.20M
Free cash flow
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Sources
Revenue
—
Net income
$-11.89M
Diluted EPS
-1.82
Operating cash flow
$-10.56M
Free cash flow
$-10.56M
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Sources
Revenue
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Net income
$-23.02M
Diluted EPS
-3.54
Operating cash flow
$-20.13M
Free cash flow
$-20.13M
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Sources
Is it cheap or expensive?
Fair value — vs current price $7.07
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $17.7M. Interest coverage -10.3x.
Net debt
$17.74M
Interest coverage
-10.31x
Instil Bio, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
TIL
BASELINE
Instil Bio, Inc.
Total debt $87.42M Interest coverage -10.31x 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 $2.91M Interest coverage -20.88x Neither company has much profit cushion over interest right now.
Total debt $17.83M Interest coverage -23.39x Neither company has much profit cushion over interest right now.
What you should know
The case for and against TIL
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -25.3% last year — the company lost money on shareholders' equity.
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
-0.48x
P/B
0.43x
P/S
—
EV/EBITDA
-1.79x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
0.0%
Net margin
0.0%
ROE
-25.3%
ROA
-10.8%
Health
Liquidity and balance-sheet strength
Debt / equity
0.81x
Current ratio
21.67x
Quick ratio
21.09x
Total debt
$87.42M
Total cash
$69.68M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
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EPS TTM
-4.40
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-23.61M
Free CF TTM
$-55.70M
FCF margin
—
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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