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BCAL Diagnostics Limited
(Sydney:BDX)
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Rating:43Neutral
Price Target:
AU$0.07
â–Ľ(-28.00% Downside)
Action:Upgraded
Date:08/30/26
The score is held down primarily by weak financial performance—severe revenue instability, sustained losses, heavy cash burn, and a materially deteriorated balance sheet with negative equity. Technicals are mixed with modest near-term strength but a weaker longer-term trend, and valuation is not supportive given negative earnings and no dividend yield.
Positive Factors
Early-cancer detection focus
A focused blood-based approach to earlier cancer detection gives BCAL a clearly defined healthcare mission and potential clinical value. Concentration on breast cancer may help align research, validation, and commercial efforts around a specific unmet diagnostic need over the medium term.
Negative Factors
Severe revenue instability
The sharp revenue collapse after earlier growth indicates that commercial traction is not yet stable or repeatable. Persistent low revenue makes operating planning difficult, limits internal funding capacity, and leaves the business dependent on future product or service adoption to establish a durable base.
Read all positive and negative factors
Positive Factors
Negative Factors
Early-cancer detection focus
A focused blood-based approach to earlier cancer detection gives BCAL a clearly defined healthcare mission and potential clinical value. Concentration on breast cancer may help align research, validation, and commercial efforts around a specific unmet diagnostic need over the medium term.
Read all positive factors
BCAL Diagnostics Limited (BDX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$27.65M
Dividend YieldN/A
Average Volume (3M)118.33K
Price to Earnings (P/E)―
Beta (1Y)0.44
Revenue Growth743.51%
EPS Growth-1.52%
CountryAU
Employees6
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.02
Shares Outstanding368,683,300
10 Day Avg. Volume73,830
30 Day Avg. Volume118,333
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)-33.37
Price to Sales (P/S)151.05
P/FCF Ratio-4.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
BCAL Diagnostics Limited Business Overview & Revenue Model
Company Description
BCAL Diagnostics Limited is a biotechnology firm focused on creating an advanced, non-surgical laboratory blood test for the identification of breast cancer. Its flagship product, the BCAL test, is a lipid biomarker-based blood assay designed for ...
How the Company Makes Money
Revenue-generating mechanisms for BCAL Diagnostics Limited (BDX) are not publicly available in sufficient detail to describe a factual revenue model, key revenue streams, or significant partnerships without speculation; therefore: null...
BCAL Diagnostics Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
24
Negative
Cash Flow
22
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 182.51K | 21.64K | 3.10M | 2.79M | 718.67K |
| Gross Profit | -534.72K | 21.64K | 3.10M | 2.79M | 698.06K |
| EBITDA | -8.67M | -6.19M | -5.67M | -7.72M | -4.06M |
| Net Income | -7.37M | -7.24M | -6.40M | -5.06M | -3.39M |
Balance Sheet | |||||
| Total Assets | 7.66M | 9.91M | 12.27M | 8.37M | 10.59M |
| Cash, Cash Equivalents and Short-Term Investments | 1.59M | 4.52M | 6.47M | 3.17M | 9.57M |
| Total Debt | 6.92M | 2.38M | 1.52M | 1.06M | 0.00 |
| Total Liabilities | 8.49M | 3.69M | 3.68M | 3.16M | 950.42K |
| Stockholders Equity | -826.19K | 6.22M | 8.59M | 5.21M | 9.64M |
Cash Flow | |||||
| Free Cash Flow | -6.62M | -6.92M | -5.67M | -6.41M | -7.25M |
| Operating Cash Flow | -6.16M | -6.14M | -4.52M | -6.05M | -3.22M |
| Investing Cash Flow | -1.44M | -787.67K | -1.15M | 3.64M | -4.03M |
| Financing Cash Flow | 4.66M | 4.97M | 8.97M | 13.24K | 9.41M |
BCAL Diagnostics Limited Technical Analysis
Positive
0.10
Price Trends
0.07
Positive
0.07
Positive
0.09
Negative
Market Momentum
<0.01
Negative
60.79
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BDX, the sentiment is Positive. The current price of 0.1 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.07, and above the 200-day MA of 0.09, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 60.79 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:BDX.
BCAL Diagnostics Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | AU$9.39B | 15.45 | 7.20% | 5.68% | 15.53% | 15.11% | |
57 Neutral | AU$312.26M | -0.75 | -114.08% | 35.60% | 2.16% | 21.04% | |
54 Neutral | AU$509.20M | 22.09 | 15.80% | 4.76% | -0.90% | -25.09% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | AU$94.51M | -11.57 | -35.89% | ― | 1.36% | 39.13% | |
45 Neutral | AU$30.22M | -4.69 | -205.17% | ― | 239.64% | -37.21% | |
43 Neutral | AU$27.65M | -3.73 | -881.94% | ― | 743.51% | -1.52% |
* Healthcare Sector Average
AU:BDX
BCAL Diagnostics Limited
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BCAL Diagnostics Limited Corporate Events
BCAL Diagnostics distances itself from merger talk as it pursues scale and synergies
Sep 10, 2026
BCAL Diagnostics has clarified its position regarding Genetic Signatures and Microba Life Sciences following media speculation about a possible three-way merger among the medtech firms. The company reiterated that its stance toward Genetic Signatu...
BCAL Diagnostics pushes for board shake‑up at Genetic Signatures after lifting stake
Sep 3, 2026
BCAL Diagnostics has moved to reshape the board of fellow ASX-listed diagnostics firm Genetic Signatures after increasing its stake to 18.46%, issuing a formal request for a shareholder meeting to vote on removing director Michael Aicher and appoi...
BCAL Diagnostics Builds Early Cancer Detection Platform as Test Uptake Grows
Sep 3, 2026
BCAL Diagnostics reported FY26 progress highlighting commercial uptake of its BREASTEST plus test, with more than 200 tests sold since launch and growing digital infrastructure through earlydectection.com.au integrated into widely used GP practice...
BCAL Diagnostics Files Updated Corporate Governance Statement with ASX
Aug 28, 2026
BCAL Diagnostics has lodged its latest corporate governance statement for the year to 30 June 2026, confirming that the document is current as of 28 August 2026 and accessible via its website in line with ASX Listing Rule requirements. The accompa...
BCAL Diagnostics widens early cancer platform as losses deepen and balance sheet weakens
Aug 28, 2026
BCAL Diagnostics reported a 10% decline in revenue to $2.55 million for the year to 30 June 2026 and a slightly higher net loss of $7.37 million, with no dividends declared and a net deficiency in tangible assets per security. The audited financia...
BCAL Diagnostics boosts Genetic Signatures stake to deepen diagnostics platform
Aug 25, 2026
BCAL Diagnostics has lifted its stake in molecular diagnostics firm Genetic Signatures to 18.46% by acquiring an additional 18.75 million shares for $1.5 million in cash at $0.08 per share. The company views Genetic Signatures’ 3base platfor...
BCAL Diagnostics Issues 1.5 Million Unquoted Convertible Notes
Aug 25, 2026
BCAL Diagnostics Limited has notified the market of the issue of 1,500,000 unquoted convertible notes, designated as BDXAI, with an issue date of August 25, 2026. The notes form part of previously announced transactions and are not intended to be ...
BCAL Diagnostics Issues 1 Million Unquoted Convertible Notes
Aug 21, 2026
BCAL Diagnostics Limited has notified the market of the issue of 1,000,000 unquoted convertible notes, designated as BDXAI, with an issue date of 14 August 2026. The move expands the company’s pool of unquoted equity-linked securities and ma...
BCAL Diagnostics to Raise Capital via Convertible Note Placement
Aug 21, 2026
BCAL Diagnostics Limited has notified the ASX of its intention to issue up to 4,900,000 convertible notes under a placement or similar capital-raising structure. The securities, designated under the ASX code BDXAI, are scheduled for issue on 26 Au...
BCAL Diagnostics Clarifies Convertible Note Funding and Share Issue Capacity
Aug 21, 2026
BCAL Diagnostics has detailed its funding position for FY2027, confirming drawdowns under a $10 million convertible note facility first approved by shareholders in late 2025. The company has issued $3.1 million in notes within the original approva...
BCAL Diagnostics boosts cancer test rollout, secures U.S. validation and strategic investment
Jul 29, 2026
BCAL Diagnostics reported substantial progress in building commercial access to its early cancer detection tests during the June quarter, embedding referral forms into leading GP and specialist software and launching the EarlyDetection.com.au plat...
BCAL Diagnostics Raises Capital Via Issue of Convertible Notes
Jul 14, 2026
BCAL Diagnostics Limited has notified the market of the issue of 1,000,000 unquoted convertible notes, with an issue date of June 10, 2026. The new securities, to be classified under a yet-to-be-confirmed ASX code, reflect the company’s late...
BCAL Diagnostics Issues 1 Million Unquoted Convertible Notes
Jul 14, 2026
BCAL Diagnostics Limited has notified the market of the issue of 1,000,000 unquoted convertible notes, creating a new class of securities. The notes, dated 25 March 2026, expand the company’s capital structure through additional debt-like fu...
BCAL Diagnostics Issues 100,000 Unquoted Convertible Notes
Jul 14, 2026
BCAL Diagnostics Limited has notified the market of the issue of 100,000 unquoted convertible notes, with an issue date of 29 January 2026, under an Appendix 3G filing to the ASX. The new securities form part of a previously announced transaction ...
BCAL Diagnostics to Issue 3 Million Unquoted Convertible Notes
Jul 14, 2026
BCAL Diagnostics Limited has notified the market of the upcoming issue of 3,000,000 unquoted convertible notes, scheduled for 27 December 2025. The securities, detailed in an Appendix 3G filing, are not quoted and are not intended to be quoted on ...
BCAL buys 10.2% stake in Genetic Signatures to broaden diagnostics platform
Jul 2, 2026
BCAL Diagnostics has acquired a 10.2% stake, or 23,173,644 shares, in molecular diagnostics firm Genetic Signatures for $1.39 million in cash, at 6 cents per share. The deal gives BCAL a strategic position in a complementary infectious disease dia...
BCAL Diagnostics secures funding to drive cancer test commercialisation through FY2027
Jun 29, 2026
BCAL Diagnostics has strengthened its funding position for fiscal 2027 by securing firm commitments for an additional $4.9 million under its existing $10 million convertible note facility, with drawdowns to be made as needed. The company also expe...
BCAL launches blood test to monitor breast cancer recurrence
Jun 18, 2026
BCAL Diagnostics has unveiled BREASTEST Monitor, a new blood test designed to evaluate women for local breast cancer recurrence after treatment, initially targeting patients aged 50 and above. The company’s platform aims to complement existi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.