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Spectral Medical
(TSX:EDT)
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Rating:46Neutral
Price Target:
C$1.50
▲(12.78% Upside)
Action:Reiterated
Date:08/26/26
The score is primarily held down by very weak financial performance—severe losses, persistent cash burn, and negative equity with rising debt—signaling high funding and solvency risk. Technical indicators are broadly neutral-to-weak and do not offset the fundamentals. A notable positive is the recent FDA PMA milestone and commercialization progress, but it is not yet sufficient to outweigh the current financial strain; valuation provides limited support due to negative earnings.
Positive Factors
FDA PMA Progress
FDA acceptance reduces a major regulatory barrier for PMX and supports a future commercialization pathway. If approval is achieved, the milestone could materially expand access to Spectral’s lead therapy.
Negative Factors
Balance Sheet Stress
Negative equity, rising debt, and a very small asset base leave little financial cushion against further losses. The resulting solvency risk may constrain investment, weaken negotiating leverage, and increase dependence on external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
FDA PMA Progress
FDA acceptance reduces a major regulatory barrier for PMX and supports a future commercialization pathway. If approval is achieved, the milestone could materially expand access to Spectral’s lead therapy.
Read all positive factors
Spectral Medical (EDT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$370.36M
Dividend Yield47.06%
Average Volume (3M)52.46K
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue Growth1.46%
EPS Growth-64.85%
CountryCA
Employees29
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.13
Shares Outstanding293,932,560
10 Day Avg. Volume31,104
30 Day Avg. Volume52,463
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)-5.93
Price to Sales (P/S)169.36
P/FCF Ratio-42.55
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)-0.03
Revenue Forecast (FY)C$2.81M
Spectral Medical Business Overview & Revenue Model
Company Description
Spectral Medical Inc. focuses on the development and commercialization of products for the treatment of septic shock in the United States, Italy, Ireland, Russia, and internationally. The company markets Endotoxin Activity Assay, a rapid in-vitro ...
How the Company Makes Money
Spectral Medical’s primary economic model is typical of a clinical-stage medtech/biotech company: it seeks to generate future revenue by developing, clinically validating, and commercializing proprietary critical-care products (therapeutic devices...
Spectral Medical Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
6
Very Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.57M | 2.44M | 2.29M | 1.60M | 1.67M | 2.00M |
| Gross Profit | -2.44M | -5.16M | 1.02M | 662.00K | 983.00K | 1.16M |
| EBITDA | -32.39M | -42.27M | -11.97M | -13.96M | -7.18M | -6.38M |
| Net Income | -35.76M | -47.69M | -15.40M | -15.66M | -11.28M | -8.79M |
Balance Sheet | ||||||
| Total Assets | 3.19M | 6.10M | 5.32M | 5.21M | 12.00M | 11.55M |
| Cash, Cash Equivalents and Short-Term Investments | 803.00K | 4.07M | 2.99M | 2.95M | 8.41M | 8.89M |
| Total Debt | 25.68M | 21.09M | 14.93M | 8.56M | 7.57M | 582.00K |
| Total Liabilities | 73.26M | 75.82M | 32.87M | 21.76M | 14.55M | 7.47M |
| Stockholders Equity | -70.07M | -69.72M | -27.55M | -16.55M | -2.55M | 4.08M |
Cash Flow | ||||||
| Free Cash Flow | -10.49M | -9.72M | -8.85M | -10.91M | -9.93M | -9.18M |
| Operating Cash Flow | -10.46M | -9.52M | -8.82M | -10.72M | -9.90M | -8.70M |
| Investing Cash Flow | -28.00K | -195.00K | -27.00K | -185.00K | -33.00K | -325.00K |
| Financing Cash Flow | 8.19M | 12.91M | 8.88M | 5.44M | 9.46M | 12.16M |
Spectral Medical Technical Analysis
Negative
1.33
Price Trends
1.36
Negative
1.37
Negative
1.35
Negative
Market Momentum
-0.03
Positive
33.27
Neutral
14.30
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EDT, the sentiment is Negative. The current price of 1.33 is below the 20-day moving average (MA) of 1.34, below the 50-day MA of 1.36, and below the 200-day MA of 1.35, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 33.27 is Neutral, neither overbought nor oversold. The STOCH value of 14.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:EDT.
Spectral Medical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | C$364.45M | 9.10 | 22.74% | ― | 3.18% | 140.09% | |
58 Neutral | C$348.52M | -7.11 | -62.45% | ― | 59.60% | 32.53% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | C$43.46M | -15.70 | 1894.66% | ― | ― | 14.18% | |
46 Neutral | C$370.36M | -9.80 | 51.23% | 47.06% | 1.46% | -64.85% | |
42 Neutral | C$52.18M | -36.30 | -250.77% | ― | -82.05% | 23.73% |
* Healthcare Sector Average
TSE:EDT
Spectral Medical
1.26
-0.49
-28.00%
TSE:CPH
Cipher Pharmaceuticals
14.34
-2.45
-14.59%
TSE:BUX
BioMark Diagnostics
0.49
0.13
36.11%
TSE:PRN
Profound Medical
9.54
3.91
69.45%
TSE:SONA
Sona Nanotech Inc
0.38
-0.23
-37.70%
Spectral Medical Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingProduct-Related AnnouncementsRegulatory Filings and Compliance
Spectral Medical Hits Regulatory Milestone on PMX as Financing and Commercial Plans Advance
Positive
Aug 7, 2026
Spectral Medical reported that the second quarter of 2026 marked a key inflection point as it submitted and successfully filed its Premarket Approval application with the U.S. Food and Drug Administration for PMX, its targeted therapy for endotoxi...
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.