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Barinthus Biotherapeutics plc

BRNS

Barinthus Biotherapeutics plc • NASDAQ
$0.77 ▼ -0.40% (-0.00)
Market Cap $31.48 M
52w High $2.92
52w Low $0.64
Dividend Yield 0%
P/E -0.41
Volume 20.68K
Outstanding Shares 40.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $15.066M ▼ $-14.566M ▲ 0% $-0.36 ▲ $-13.428M ▲
Q2-2025 $0 $23.324M ▲ $-21.124M ▼ 0% $-0.52 ▼ $-19.138M ▼
Q1-2025 $0 $20.6M ▼ $-19.648M ▲ 0% $-0.49 ▲ $-17.633M ▲
Q4-2024 $0 ▼ $23.39M ▼ $-20.54M ▼ 0% ▲ $-0.51 ▼ $-19.148M ▼
Q3-2024 $14.969M $24.349M $-8.114M -54.205% $-0.21 $-6.64M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $74.272M ▼ $109.201M ▼ $24.64M ▼ $84.465M ▼
Q2-2025 $86.259M ▼ $129.561M ▼ $27.08M ▲ $102.377M ▼
Q1-2025 $99.118M ▼ $141.996M ▼ $26.403M ▼ $115.494M ▼
Q4-2024 $110.662M ▲ $160.327M ▼ $30.192M ▲ $130.029M ▼
Q3-2024 $106.102M $188.689M $29.228M $159.294M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-14.571M ▲ $-10.726M ▲ $451K ▲ $0 $-12.11M ▲ $-10.726M ▲
Q2-2025 $-21.126M ▼ $-18.109M ▼ $-32K ▼ $0 ▼ $-12.795M ▼ $-18.141M ▼
Q1-2025 $-19.658M ▲ $-14.902M ▼ $-5K ▲ $2K ▼ $-11.821M ▼ $-14.907M ▼
Q4-2024 $-20.591M ▼ $13.086M ▲ $-278K ▼ $837K ▲ $6.298M ▲ $12.808M ▲
Q3-2024 $-8.129M $-18.198M $-114K $465K $-11.672M $-18.312M

Revenue by Products

Product Q3-2024Q4-2024
License
License
 $10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Barinthus is still very much a research-stage biotech, and that shows clearly in its income statement. Revenue is essentially negligible, with no recurring product sales yet. The company’s costs relate mainly to research, development, and overhead, which means it has been reporting steady operating and net losses each year. There was a brief period of near break-even performance, but the overall pattern is one of ongoing losses as the pipeline is built out. This is typical for early-stage biotech but means the business is not yet self-sustaining and depends on external funding to continue its programs.

Balance Sheet

Balance Sheet The balance sheet is dominated by cash and other liquid assets, with only a small amount of debt. Equity has moved from negative a few years ago to clearly positive, reflecting capital raised since the IPO and restructuring of the business. Total assets have been trending down slightly more recently as cash is used to fund operations, but the company still holds a meaningful cash cushion relative to its current spending. The low leverage and cash-heavy structure are positives, though the balance sheet is clearly designed to support R&D rather than generate near-term profits.

Cash Flow

Cash Flow Cash flows are negative from operations, as one would expect for a company without commercial products that is investing in clinical trials and platform development. Capital spending is very light, so almost all cash outflow is tied to operating activities rather than big physical investments. Free cash flow has been consistently negative, but not at an extreme burn rate relative to its cash on hand. Management’s own guidance suggests the existing cash should carry the company several years forward, though that depends on keeping spending disciplined and on the scope of future trials.

Competitive Edge

Competitive Edge Barinthus operates in a highly competitive and science-driven niche: T-cell–based immunotherapies and immune tolerance for autoimmune disease. Its core advantages include its dual technology platforms, Oxford University roots, and experience gained from the COVID-19 vaccine collaboration, which provide a degree of scientific credibility and regulatory know‑how. The pivot toward autoimmune conditions like celiac disease moves the company into a space with large unmet medical need and fewer direct competitors using the same approach. However, it still faces intense competition from large pharmaceutical and biotech companies in immunology, and it has no approved products yet. Its position will ultimately depend on clinical results and its ability to secure strong partners for non-core programs.

Innovation and R&D

Innovation and R&D Innovation is the heart of Barinthus’s story. The company combines a viral vector platform, proven at scale through the AstraZeneca COVID-19 vaccine, with its newer SNAP‑TI nanoparticle platform aimed at inducing immune tolerance in autoimmune diseases. The lead program in celiac disease is designed to retrain the immune system rather than simply suppress it, which, if successful, could be highly differentiated. Barinthus is also exploring applications in other autoimmune conditions and is seeking partners for its infectious disease and oncology programs. The main risks are classic early‑stage biotech risks: concentration on a few flagship assets, uncertain clinical outcomes, and the need to continuously fund lengthy and expensive trials.

Summary

Overall, Barinthus is a classic clinical‑stage biotech: minimal revenue, recurring losses, and cash-financed R&D with a focus on high‑risk, high‑reward science. Its financials show a company built to run long clinical programs rather than generate near‑term profits, with a relatively clean balance sheet and a moderate cash burn. Strategically, it has sharpened its focus on autoimmune disease, especially celiac disease, where its SNAP‑TI platform could be meaningfully differentiated if human data are strong. The upside case rests heavily on successful trial readouts and partnerships; the downside centers on clinical setbacks, slower partnering than expected, or an eventual need to raise more capital on less favorable terms. For now, Barinthus is best viewed as a focused, innovation‑driven platform story with significant scientific promise and equally significant execution risk.

NEWS

October 24, 2025 · 11:00 AM UTC

ChemDiv Continues R&D Services Support for Clywedog Therapeutics Following Merger with Barinthus Therapeutics

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October 7, 2025 · 5:30 PM UTC

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Barinthus Biotherapeutics plc (NASDAQ: BRNS)

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October 3, 2025 · 1:23 PM UTC

BARINTHUS BIOTHERAPEUTICS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Barinthus Biotherapeutics plc - BRNS

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September 30, 2025 · 11:03 AM UTC

BRNS Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Barinthus Biotherapeutics plc Is Fair to Shareholders

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September 30, 2025 · 9:56 AM UTC

Barinthus Biotherapeutics to Combine with Clywedog Therapeutics to Target Metabolic and Autoimmune Diseases

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