Barinthus Biotherapeutics (BRNS) AI Stock Analysis

• Market Cap: $27.77M
• Dividend Yield: N/A
• Average Volume (3M): 124.73K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.98
• Revenue Growth: -100.00%
• EPS Growth: -26.30%
• Country: US
• Employees: 105
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.27
• Shares Outstanding: 40,848,892
• 10 Day Avg. Volume: 97,530
• 30 Day Avg. Volume: 124,726
• PEG Ratio: -0.07
• Price to Book (P/B): 0.38
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.59
• Enterprise Value/Market Cap: -1.18
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 35.95
• Enterprise Value/Ebitda: 0.56
• 1Y Price Target: $7.00
• Price Target Upside: 821.05% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -1.34
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $0.62 ▼(-18.95% Downside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is driven primarily by weak financial performance (volatile/absent recent revenue, sustained losses, and ongoing cash burn) and a technically weak longer-term price trend (below key moving averages with negative MACD). Corporate events are mixed—merger/cash runway are positives, but Nasdaq bid-price noncompliance is a significant risk—while valuation is constrained by negative earnings and no indicated dividend support.

Positive Factors

Merger expands pipeline and extends runway

The announced all-stock merger with Clywedog creates a larger combined biotech focused on metabolic and autoimmune indications and supplies an estimated cash runway through 2027. This structurally improves funding visibility for upcoming clinical readouts and reduces near-term financing urgency.

Clinical progress on prioritized programs

Concrete clinical data (encouraging Phase 1 AVALON safety/PD and positive Phase 2 VTP-300 results) reflect execution on a narrowed immunology focus. Sustained clinical progress and multiple planned readouts create durable value drivers and reduce binary risk compared with pure preclinical-stage operations.

Relatively low leverage provides flexibility

Modest debt levels give the company financial flexibility to fund trials, pursue the merger, or raise capital without heavy interest burdens. For a clinical-stage biotech, lower leverage reduces refinancing strain, preserves optionality, and supports strategic decisions over the next several quarters.

Negative Factors

Volatile and absent recent revenue

Revenue volatility and a drop to zero in 2025 signal a lack of recurring commercial income, leaving the business reliant on financing and milestones. This undermines near- to medium-term cash predictability, increases financing dependency, and limits ability to fund development without dilution or strategic transactions.

Persistent negative operating and free cash flow

Consistent operating and free cash flow deficits indicate ongoing cash burn tied to R&D and operations. Even with some 2025 improvement, structural negative cash generation elevates dilution and refinancing risk, forcing management to prioritize cash preservation strategies over aggressive development spend.

Nasdaq minimum bid price noncompliance risk

A formal Nasdaq minimum bid price deficiency introduces a structural listing risk that can lead to reverse splits or delisting if unremedied. Such outcomes can impair liquidity, deter institutional holders, and force management to take governance or capital-structure actions that distract from long-term R&D execution.

Barinthus Biotherapeutics Business Overview & Revenue Model

Company Description

Barinthus Biotherapeutics plc, a clinical-stage biopharmaceutical company, engages in developing novel T cell immunotherapeutics to guide the immune system to overcome chronic infectious diseases, autoimmunity, and cancer. It is advancing a pipeline of product candidates across a range of therapeutic areas, including VTP-300, an immunotherapeutic candidate designed as a potential component of a functional cure for chronic HBV infection; VTP-200, a non-surgical product candidate for persistent high-risk human papillomavirus (HPV); VTP-1000, an autoimmune candidate designed to utilize the SNAP-TI platform to treat patients with celiac disease; VTP-850, a second-generation immunotherapeutic candidate designed to treat recurrent prostate cancer; and VTP-1100, a preclinical cancer candidate designed to utilize the SNAP-CI platform to treat patients with HPV-related cancer. The company was formerly known as Vaccitech plc and changed its name to Barinthus Biotherapeutics plc in November 2023. Barinthus Biotherapeutics plc was founded in 2016 and is headquartered in Harwell, the United Kingdom.

How the Company Makes Money

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Barinthus Biotherapeutics Financial Statement Overview

Summary

Financial profile is weak overall: revenue has been highly volatile (including dropping to zero in 2025), profitability remains poor with persistent net losses, and operating/free cash flow are negative (ongoing cash burn). Offsetting positives include relatively modest leverage and some improvement in free cash flow in 2025 versus 2024, but shrinking equity/assets and lack of a stable revenue base remain major risks.

Income Statement

Revenue has been highly volatile (strong 2022 and 2024, then dropping to zero in 2025), which undermines visibility. Profitability is weak overall with persistent, sizable net losses in most years (2021–2025), and margins have generally been deeply negative outside of 2022. A modest positive is that losses in 2025 are not materially worse than 2023–2024, but the lack of a stable revenue base keeps earnings quality and trajectory poor.

Balance Sheet

Leverage is low by biotech standards, with debt-to-equity remaining modest in recent years (2022–2025), providing balance-sheet flexibility. However, equity and total assets have declined meaningfully from 2021–2023 to 2025, consistent with ongoing losses and cash usage. Returns on equity are negative in most periods (except 2022), signaling that capital is not currently earning an economic return.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative every year shown, indicating continued cash burn. While free cash flow improved in 2025 versus 2024 (less negative), the company still relies on external funding to sustain operations. A relative positive is that cash outflows broadly track reported losses (free cash flow to net income around ~1 in recent years), suggesting losses are not being materially understated by working-capital effects.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	14.97M	802.00K	44.70M	268.00K
Gross Profit	0.00	14.97M	802.00K	44.70M	268.00K
EBITDA	506.00K	-55.37M	-71.06M	5.19M	-47.87M
Net Income	-66.43M	-61.07M	-73.35M	5.34M	-50.87M
Balance Sheet
Total Assets	98.17M	160.33M	214.51M	270.20M	280.71M
Cash, Cash Equivalents and Short-Term Investments	70.46M	110.66M	142.09M	194.38M	214.05M
Total Debt	11.28M	12.01M	12.98M	8.77M	7.22M
Total Liabilities	23.88M	30.19M	27.51M	27.00M	28.15M
Stockholders Equity	74.21M	130.03M	186.78M	242.90M	252.13M
Cash Flow
Free Cash Flow	-48.02M	-29.83M	-56.34M	-20.57M	-33.73M
Operating Cash Flow	-47.98M	-28.94M	-50.92M	-14.43M	-32.58M
Investing Cash Flow	416.00K	-892.00K	-5.41M	-5.75M	-12.91M
Financing Cash Flow	2.00K	2.16M	1.87M	325.00K	222.74M

Barinthus Biotherapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.76
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRNS, the sentiment is Neutral. The current price of 0.76 is above the 20-day moving average (MA) of 0.61, above the 50-day MA of 0.67, and below the 200-day MA of 0.99, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 58.65 is Neutral, neither overbought nor oversold. The STOCH value of 92.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BRNS.

Barinthus Biotherapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALXO	54 Neutral	$285.59M	-0.60	-118.95%	―	―	31.98%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CLGN	48 Neutral	$8.64M	-2.46	-92.74%	―	280.77%	32.82%
BRNS	46 Neutral	$27.77M	-0.43	-70.57%	―	-100.00%	-26.30%
ALGS	42 Neutral	$45.17M	-1.22	-141.82%	―	-55.88%	6.14%
GDTC	42 Neutral	$12.20M	-7.53	-42.29%	―	―	-21.99%
BOLD	42 Neutral	$25.77M	-0.46	-49.73%	―	―	-0.50%

Barinthus Biotherapeutics Corporate Events

Barinthus Bio Announces 2025 Results and Clywedog Merger

On March 13, 2026, Barinthus Bio reported full-year 2025 results, highlighted by a proposed all-stock merger with diabetes-focused Clywedog Therapeutics, expected to close in the second quarter of 2026 and create a combined Nasdaq-listed entity named Clywedog Therapeutics Holdings, Inc. with an estimated cash runway through 2027. Over 2025, the company executed a strategic refocus on immunology and inflammation, advanced its Phase 1 AVALON trial of VTP-1000 in celiac disease with encouraging single ascending dose safety and pharmacodynamic data, significantly reduced R&D spending to $25.6 million as legacy programs wound down, and ended the year with $71.9 million in cash while preparing for multiple clinical milestones, including Phase 1 multiple ascending dose data for VTP-1000 in the second half of 2026 and four clinical readouts within 18 months of the merger closing.

In January 2025, Barinthus Bio announced a restructuring to prioritize immune tolerance programs such as VTP-1000 and to deprioritize infectious disease and oncology assets, which contributed to lower 2025 R&D outlays versus 2024. During 2025 the company also presented positive Phase 2 data for legacy hepatitis B candidate VTP-300, completed the single ascending dose portion of the AVALON trial in December, and in early 2026 amended its merger agreement with Clywedog to adjust exchange ratio flexibility and minimum cash terms, underscoring management’s focus on preserving financial flexibility and building a differentiated metabolic and autoimmune pipeline for existing and new institutional investors.

The most recent analyst rating on (BRNS) stock is a Sell with a $0.71 price target. To see the full list of analyst forecasts on Barinthus Biotherapeutics stock, see the BRNS Stock Forecast page.

Barinthus Biotherapeutics Amends Cross-Border Merger Agreement Terms

On September 29, 2025, Barinthus Biotherapeutics (Beacon) agreed to a complex cross-border combination under which newly formed Beacon Topco, Inc. would acquire Beacon via a U.K. scheme of arrangement, while Cdog Merger Sub, Inc. would merge with Clywedog Therapeutics, Inc., leaving Clywedog as a wholly owned subsidiary of Topco. On February 22, 2026, the parties amended the merger agreement, revising the Scheme Exchange Ratio to a board-determined range of 0.1 to 0.166667 and the Merger Exchange Ratio to a range of 0.000305 to 0.000508, preserving the agreed post-closing ownership split in Topco.

The February 22, 2026 amendment also expanded minimum cash requirements for both Clywedog and Beacon to cover assumed closing dates of May 31, 2026 and June 30, 2026, respectively, reflecting an unexpected delay in the transaction timeline caused by U.S. federal government shutdowns. These changes signal an effort to stabilize the capital structure and deal economics despite regulatory and timing disruptions, with implications for shareholder ownership, liquidity planning, and the overall execution risk of the cross-border merger.

The most recent analyst rating on (BRNS) stock is a Sell with a $0.71 price target. To see the full list of analyst forecasts on Barinthus Biotherapeutics stock, see the BRNS Stock Forecast page.

Barinthus Biotherapeutics Receives Nasdaq Minimum Bid Price Notice

On December 30, 2025, Barinthus Biotherapeutics plc received a notice from Nasdaq that the closing bid price of its American Depositary Shares had remained below $1.00 for 30 consecutive business days, placing the company out of compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Market. While the ADSs remain listed and trading is unaffected in the near term, Barinthus now has until June 29, 2026, to restore its share price to at least $1.00 for ten consecutive business days or risk potential delisting, and the company is monitoring its stock performance and considering options such as a reverse stock split to regain compliance, which could have implications for existing shareholders and the company’s market standing.

The most recent analyst rating on (BRNS) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Barinthus Biotherapeutics stock, see the BRNS Stock Forecast page.