Want to see TRAX full AI Analyst Report?
Top Page
First Tracks Biotherapeutics Inc
(NASDAQ:TRAX)
Select Model
Select Model
Rating:59Neutral
Price Target:
$44.00
Action:Reiterated
Date:07/28/26
The score is held down primarily by weak financial performance (no revenue, large ongoing losses, and heavy cash burn). This is partially offset by very strong recent technical momentum (price well above key moving averages). Valuation is mixed due to a negative P/E and no dividend yield information.
Positive Factors
Low leverage / conservative debt profile
The company's very low debt-to-equity (~0.04–0.05) materially reduces near-term refinancing and interest burdens. Over a 2–6 month horizon this conservatism supports optionality—funding R&D, partnerships, or capital raises with less immediate solvency stress versus highly levered peers.
Negative Factors
No commercial revenue
Absence of any revenue across three years means the business lacks validated commercial cash generation. The firm is structurally dependent on external financing to support operations and R&D, increasing dilution and execution risk over a multi-month horizon until commercialization or sustained partner funding occurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / conservative debt profile
The company's very low debt-to-equity (~0.04–0.05) materially reduces near-term refinancing and interest burdens. Over a 2–6 month horizon this conservatism supports optionality—funding R&D, partnerships, or capital raises with less immediate solvency stress versus highly levered peers.
Read all positive factors
First Tracks Biotherapeutics Inc (TRAX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.54B
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)―
Beta (1Y)1.55
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees104
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)N/A
Shares Outstanding34,892,380
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.25
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-7.32
Forecast
1Y Price Target
$48.00Price Target Upside― Downside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
First Tracks Biotherapeutics Inc Business Overview & Revenue Model
Company Description
First Tracks Biotherapeutics, Inc., situated in San Diego, California, specializes in pioneering new immunology-based treatments. The firm is actively involved in the discovery and progression of therapeutics aimed at combating autoimmune and infl...
First Tracks Biotherapeutics Inc Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
63
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -139.61M | -152.34M | 0.00 |
| EBITDA | -52.69M | -178.45M | -178.70M | -116.08M |
| Net Income | -50.48M | -166.09M | -163.71M | -106.15M |
Balance Sheet | ||||
| Total Assets | 290.58M | 330.55M | 441.89M | 444.11M |
| Cash, Cash Equivalents and Short-Term Investments | 286.45M | 311.64M | 385.37M | 390.90M |
| Total Debt | 0.00 | 14.11M | 16.04M | 17.81M |
| Total Liabilities | 33.11M | 43.05M | 50.30M | 34.26M |
| Stockholders Equity | 257.46M | 287.49M | 391.60M | 409.85M |
Cash Flow | ||||
| Free Cash Flow | -32.58M | -143.01M | -126.16M | -93.81M |
| Operating Cash Flow | -32.56M | -142.93M | -125.81M | -93.00M |
| Investing Cash Flow | 34.98M | 228.03M | 95.40M | 144.75M |
| Financing Cash Flow | 7.85M | 30.01M | 117.52M | -87.09M |
First Tracks Biotherapeutics Inc Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $1.54B | -15.67 | -30.10% | ― | ― | ― | |
58 Neutral | $941.09M | -3.31 | -128.57% | ― | ― | -9.27% | |
56 Neutral | $1.50B | -8.83 | -28.77% | ― | -23.48% | 25.73% | |
56 Neutral | $799.86M | -2.69 | -141.95% | ― | 5.37% | -60.20% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | $648.89M | -2.44 | -56.45% | ― | ― | 37.45% | |
51 Neutral | $674.88M | -8.58 | -36.61% | ― | -75.91% | -173.33% |
* General Sector Average
TRAX
First Tracks Biotherapeutics Inc
45.33
26.33
138.58%
XNCR
Xencor
20.81
13.58
187.83%
CTMX
CytomX Therapeutics
3.46
1.11
47.23%
KURA
Kura Oncology
9.57
4.03
72.74%
REPL
Replimune Group
12.06
6.77
127.98%
ALLO
Allogene Therapeutics
2.01
0.97
93.27%
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.