TRAX Stock Analysis: First Tracks Biotherapeutics | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 673m USD | 12M Return: 56.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.6M
Warnings
Tailwinds
No distinct edge detected
Seasonality 0.3 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
First Tracks Biotherapeutics (NASDAQ: TRAX) is a clinical-stage biotechnology company based in San Diego, California, developing immunology therapeutics for autoimmune and inflammatory diseases. The company was founded in 2019 and previously operated as Biopharma Co., Inc. before adopting its current name in February 2026. Its pipeline features three antibody-based candidates: ANB033, an anti-CD122 antagonist targeting the shared beta subunit of the IL-15 and IL-2 receptors; Rosnilimab, an antibody designed to selectively deplete pathogenic T cells; and ANB101, a BDCA2-modulating antibody aimed at plasmacytoid dendritic cells (pDCs).
As a clinical-stage biotech, the company has not yet generated product revenue, and its valuation depends largely on the development progress of its pipeline assets. The U.S. biotechnology sector has increasingly focused on antibody-based and targeted immunomodulatory approaches to address autoimmune and inflammatory conditions, an area of significant unmet medical need and commercial interest.
- Rosnilimab and ANB033 clinical readouts are key catalysts
- Cash burn and runway pressure as R&D spending scales
- Competitive IL-15 and T-cell depletion autoimmune landscape intensifies
| Net Income: error (cannot be calculated; needs Net Income TTM and Revenue TTM) |
| FCF/TA: -0.49 > 0.02 and ΔFCF/TA -20.67 > 1.0 |
| NWC/Revenue: error (cannot be calculated; needs Current Assets/Liabilities and Revenue current+prev) |
| CFO/TA -0.49 > 3% & CFO -142.9m > Net Income -166.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 8.74 > 1.5 & < 3 |
| Outstanding Shares: last fiscal year (NaN) vs prev NaN% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 0.0% > 50% (prev 0.0%; Δ 0.0% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
As of July 08, 2026, the stock is trading at USD 19.78 with a total of 566,839 shares traded. Over the past week, the price has changed by +16.28%, over one month by +25.59%, over three months by +4.11% and over the past year by +56.49%.
Current recommended Stop Loss: 17.70 (which is 10.5% or 1.1 ATR below the current price).
First Tracks Biotherapeutics has no consensus analysts rating.
P/B = 2.5234
Revenue TTM = 0.0 USD
EBIT TTM = -179.0m USD
EBITDA TTM = -178.4m USD
Long Term Debt = unknown (none)
Short Term Debt = 2.08m USD (from shortTermDebt, last fiscal year)
Debt = 30.1m USD (from shortLongTermDebtTotal, last fiscal year) + Leases 16.0m
Net Debt = -256.3m USD (calculated: Debt 30.1m - CCE 286.5m)
Enterprise Value = 417.1m USD (673.4m + Debt 30.1m - CCE 286.5m)
Interest Coverage Ratio = unknown (Ebit TTM -179.0m / Interest Expense TTM 0.0)
EV/FCF = -2.92x (Enterprise Value 417.1m / FCF TTM -143.0m)
FCF Yield = -34.29% (FCF TTM -143.0m / Enterprise Value 417.1m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 139.6m) / Revenue TTM)
Tobins Q-Ratio = 1.44 (Enterprise Value 417.1m / Total Assets 290.6m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 30.1m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -141.4m (EBIT -179.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.74 (Total Current Assets 289.4m / Total Current Liabilities 33.1m)
Debt / Equity = 0.12 (Debt 30.1m / totalStockholderEquity, last quarter 257.5m)
Debt / EBITDA = 1.44 (negative EBITDA) (Net Debt -256.3m / EBITDA -178.4m)
Debt / FCF = 1.79 (negative FCF - burning cash) (Net Debt -256.3m / FCF TTM -143.0m)
Total Stockholder Equity = 287.5m (last fiscal year from totalStockholderEquity)
RoA = -45.35% (Net Income -166.1m / Total Assets 290.6m)
RoE = -57.77% (Net Income TTM -166.1m / Total Stockholder Equity 287.5m)
RoCE = -69.53% (EBIT -179.0m / Capital Employed (Total Assets 290.6m - Current Liab 33.1m))
RoIC = -54.49% (negative operating profit) (NOPAT -141.4m / Invested Capital 259.5m)
WACC = 14.85% (E(673.4m)/V(703.6m) * Re(15.51%) + D(30.1m)/V(703.6m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 15.51% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (yearly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Fair Price = unknown (Cash Flow -143.0m)
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: N/A | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.79 | Chg30d=-2.60% | Revisions=+25% | Analysts=8
EPS current Year (2026-12-31): EPS=-3.60 | Chg30d=-34.96% | Revisions=-25% | GrowthEPS=+0.0% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=-3.14 | Chg30d=+4.12% | Revisions=+25% | GrowthEPS=+12.9% | GrowthRev=+0.0%
[Analyst] Revisions Ratio: +17% (up=2, down=1)