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TDAC

Translational Development Acquisition Corp.

TDAC

Translational Development Acquisition Corp. • NASDAQ
$10.41 ▲ 0.48% (+0.05)
Market Cap $228.06 M
52w High $10.46
52w Low $10.00
Dividend Yield 0%
P/E 47.32
Volume 2
Outstanding Shares 21.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 ▼ $213.658K ▼ $1.66M ▲ 0% ▼ $0.08 ▲ $0 ▲
Q2-2025 $191.762K ▼ $221.127K ▼ $1.623M ▲ 846.54% ▲ $0.074 ▼ $-221.127K ▲
Q1-2025 $223.849K ▲ $347.408K ▲ $1.483M ▲ 662.533% ▲ $0.37 ▲ $-347.408K ▼
Q4-2024 $0 $133.39K ▲ $-8.044K ▲ 0% $-0.002 ▲ $-135.075K ▼
Q3-2024 $0 $61.283K $-61.283K 0% $-0.015 $-61.283K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $47.15K ▲ $179.98M ▲ $6.46M ▲ $-6.38M ▼
Q2-2025 $35.255K ▼ $178.181M ▲ $6.322M ▼ $171.859M ▲
Q1-2025 $206.6K ▼ $176.596M ▲ $6.36M ▲ $170.236M ▲
Q4-2024 $438.174K ▲ $175.001M ▲ $6.248M ▲ $168.753M ▲
Q3-2024 $224.038K $393.774K $964.4K $-570.626K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.66M ▲ $-1.245M ▼ $1.25M ▲ $-597.022K ▼ $11.895K ▲ $-1.245M ▼
Q2-2025 $1.623M ▲ $-171.345K ▼ $0 ▲ $0 ▼ $-171.345K ▼ $-171.345K ▲
Q1-2025 $1.483M ▲ $924.9K ▲ $-1.25M ▲ $697.022K ▼ $400.642K ▲ $-231.574K ▲
Q4-2024 $-8.044K ▲ $-810.963K ▼ $-174.225M ▼ $175.25M ▲ $214.136K ▲ $-810.963K ▼
Q3-2024 $-61.283K $-40.483K $0 $192.5K $152.017K $-40.483K

Five-Year Company Overview

Income Statement

Income Statement TDAC’s income statement looks like a typical early-stage SPAC: almost no operating revenue and small losses driven by setup and ongoing administrative costs. The tiny amount of reported revenue is likely interest or similar income, not the result of a real operating business. There is no real operating profit, and earnings per share are negative, reflecting expenses without any true commercial activity. In practice, this means the current income statement tells you almost nothing about the eventual earning power of the company TDAC may acquire; it mainly shows the cost of keeping the shell company alive while it searches for a deal.

Balance Sheet

Balance Sheet The balance sheet is extremely light and somewhat distorted by SPAC accounting. Reported assets and equity are very small relative to the obligations recorded, which likely include IPO-related liabilities and amounts effectively owed back to shareholders if they redeem. For a SPAC, much of the IPO cash typically sits in a trust and may not appear as simple “cash” in summary data, so the snapshot can look more fragile than the underlying cash position in the trust. Still, the picture is one of very thin permanent equity and a structure that is highly sensitive to how many shareholders choose to stay or redeem when a deal is announced. Overall, the balance sheet today tells you more about the SPAC structure than about any underlying business strength, because there is no operating business yet.

Cash Flow

Cash Flow The cash flow data provided are essentially blank, which is common for a brand-new SPAC with minimal operating activity and incomplete public history. In reality, cash flows at this stage are mostly technical: IPO proceeds going into a trust, small amounts used for deal sourcing and corporate expenses, and little else. There is no evidence of cash being generated from customers or invested in assets, because there is no acquired business yet. Until TDAC announces and closes a merger, cash flow analysis will remain largely about structure and safeguards rather than about business performance or reinvestment.

Competitive Edge

Competitive Edge As a SPAC, TDAC’s competitive position rests almost entirely on its management team and their ability to source an attractive target before the SPAC’s deadline. The team blends financial expertise with scientific and medical backgrounds, which could help them evaluate complex biotech or technology businesses better than a purely financial sponsor. However, they operate in a very crowded SPAC and private-equity environment, where many well-funded players are chasing a limited pool of high-quality targets. TDAC’s edge, if any, will come from its network and credibility in translational medicine and advanced technologies, but there is no guarantee it can secure a deal on favorable terms or at all.

Innovation and R&D

Innovation and R&D TDAC itself has no products, no research labs, and no internal innovation pipeline; it is a financial vehicle, not an operating company. The real innovation story will only emerge once it selects a target, likely in biotechnology or advanced technologies, where research and development intensity is high. The board’s scientific focus suggests they intend to back a company with meaningful intellectual property and a pipeline of new products or therapies. Until a specific target is announced, any assessment of innovation or R&D is speculative, because all of the scientific and technological value will reside in the future merger partner, not in TDAC as it exists today.

Summary

TDAC is best understood as a pool of capital seeking a business, not as a business generating profits. The current financial statements show small losses, a thin equity base, and no meaningful operations, which is typical for a SPAC and not necessarily a sign of operational weakness. The main risks lie in execution: finding a credible target in a competitive market, negotiating sensible terms, managing shareholder redemptions, and integrating a high-risk, innovation-led company if the focus remains on biotech or advanced technology. The main potential upside, conversely, depends on the quality of the eventual target’s business model, scientific moat, and growth prospects. Until a definitive merger is announced and detailed information on the target is available, any view of TDAC’s long-term financial profile remains highly uncertain and should be treated as a bet on the sponsor team rather than on current fundamentals.