Transgene SA (FR:TNG)
:TNG
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Transgene
(TNG)
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Rating:48Neutral
Price Target:
€0.83
▼(-12.02% Downside)
Action:Reiterated
Date:05/30/26
The score is held down primarily by weak fundamentals—persistent losses, collapsing 2025 revenue, and substantial ongoing cash burn—despite a low-debt balance sheet. Technical indicators are moderately constructive in the near term, but valuation support is limited because the company is loss-making and has no dividend yield provided.
Positive Factors
Low leverage / strong balance sheet
Transgene's very low debt-to-equity and material equity cushion provide durable financial flexibility over the next several months. Low leverage reduces refinancing and interest burdens, enabling continued R&D spend or partner-funded programs without near-term solvency pressure, supporting program continuity.
Negative Factors
Persistent cash burn
Operating cash flow remains strongly negative, translating net losses into real cash consumption. Persistent negative OCF and FCF imply the company will need external financing or partner payments to sustain operations, creating ongoing execution and financing risk across the 2–6 month horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Transgene's very low debt-to-equity and material equity cushion provide durable financial flexibility over the next several months. Low leverage reduces refinancing and interest burdens, enabling continued R&D spend or partner-funded programs without near-term solvency pressure, supporting program continuity.
Read all positive factors
Transgene (TNG) vs. iShares MSCI France ETF (EWQ)
Market Cap
€208.49M
Dividend YieldN/A
Average Volume (3M)129.86K
Price to Earnings (P/E)―
Beta (1Y)0.21
Revenue Growth291.43%
EPS Growth12.24%
CountryFR
Employees144
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.26
Shares Outstanding277,532,530
10 Day Avg. Volume204,663
30 Day Avg. Volume129,863
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)1.14
Price to Sales (P/S)282.76
P/FCF Ratio-3.69
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)-0.14
Revenue Forecast (FY)€8.15M
Transgene Business Overview & Revenue Model
Company Description
Transgene SA, a French biotechnology firm headquartered in Illkirch-Graffenstaden, specializes in designing and developing groundbreaking therapeutic vaccines and oncolytic viruses to combat cancer and infectious diseases. Founded in 1979 and oper...
How the Company Makes Money
Transgene makes money primarily through partnering-related income and other non-product revenue typical of clinical-stage biotechs. Key revenue streams include: (1) Collaboration and licensing/partner revenues: upfront payments, research funding, ...
Transgene Earnings Call Summary
Earnings Call Date:Mar 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Sep 24, 2026
Earnings Call Sentiment Positive
The call emphasized several strong positives: robust fundraising (EUR 105M), a strengthened balance sheet (EUR 39M debt conversion), compelling Phase I efficacy and durable immunogenicity signals for TG4050 (100% disease-free in treated Phase I patients; 73% immunogenicity with responses persisting 24 months), encouraging BT-001 combination data, and a clear plan for manufacturing and regulatory readiness. Counterbalancing these highlights are timing and operational risks (GMP readiness targeted Q3 2027), immature/pending pivotal readouts (Phase II 2-year DFS not yet available), ongoing cash burn (~EUR 38.2M in 2025) and some dependence on broader field validation. Overall, the positive clinical signals and strengthened financial position outweigh the execution and timing risks at this stage.Positive Updates
Successful Fundraising and Balance Sheet Strengthening
Raised approximately EUR 105 million in December 2025 and converted EUR 39 million of debt into equity, leaving the company virtually debt-free and providing financial visibility/runway through early 2028.
Negative Updates
Key Efficacy Readouts Not Yet Mature or Fully Peer-Reviewed
Primary efficacy readout for Phase I/II (2-year DFS for Phase II) is pending until patients reach 2 years post-randomization; Phase I comprehensive analysis is currently a preprint under peer review, so data are not yet fully validated by peer-reviewed publication.
Read all updates
Q4-2025 Updates
Positive
Negative
Successful Fundraising and Balance Sheet Strengthening
Raised approximately EUR 105 million in December 2025 and converted EUR 39 million of debt into equity, leaving the company virtually debt-free and providing financial visibility/runway through early 2028.
Read all positive updates
Company Guidance
The call laid out clear, metric-driven guidance: Transgene raised ~EUR 105m in December 2025 and converted ~EUR 39m of debt to equity (now virtually debt‑free), giving cash visibility through early 2028 (first quarter 2028) after a 2025 cash burn of ~EUR 38.2m; clinically, the primary endpoint for the randomized Phase I/II TG4050 study is 2‑year disease‑free survival (DFS) with an efficacy readout once all patients reach 2 years, Phase I 3‑year DFS data expected Q2–Q3 2026 and 4‑year follow‑up Q2–Q3 2027, Phase II patient randomization to be completed by Q2 2026 and first Phase II immunogenicity data in H2 2026 (with ~1 year follow‑up possible), and Phase I translational results showed 100% DFS at ≥2 years in treated HPV‑negative HNSCC patients vs. 3 relapses in controls and neoantigen‑specific T‑cell responses in 73% of evaluable patients that persisted 24 months; manufacturing and regulatory investments target full GMP capacity by Q3 2027 and a second Phase I indication is slated to start in 2026.Transgene Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
63
Positive
Cash Flow
21
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 137.00K | 6.35M | 7.90M | 3.13M | 9.99M |
| Gross Profit | 490.00K | -27.93M | -21.69M | -29.04M | -22.89M |
| EBITDA | -39.77M | -26.65M | -28.44M | -30.33M | -23.55M |
| Net Income | -37.52M | -33.97M | -22.33M | -32.81M | -20.00M |
Balance Sheet | |||||
| Total Assets | 138.83M | 42.17M | 45.22M | 66.44M | 101.84M |
| Cash, Cash Equivalents and Short-Term Investments | 111.86M | 16.67M | 15.67M | 26.83M | 49.57M |
| Total Debt | 2.06M | 10.40M | 1.35M | 2.45M | 3.84M |
| Total Liabilities | 17.09M | 26.97M | 29.61M | 28.59M | 34.63M |
| Stockholders Equity | 121.73M | 15.20M | 15.61M | 37.84M | 67.21M |
Cash Flow | |||||
| Free Cash Flow | -37.58M | -26.62M | -37.42M | -21.84M | -32.63M |
| Operating Cash Flow | -36.74M | -23.55M | -34.67M | -20.30M | -31.94M |
| Investing Cash Flow | -105.95M | -3.21M | 34.57M | 20.27M | 16.79M |
| Financing Cash Flow | 134.38M | 26.96M | 11.37M | -1.48M | 15.77M |
Transgene Technical Analysis
Negative
0.94
Price Trends
0.79
Negative
0.80
Negative
0.96
Negative
Market Momentum
-0.01
Positive
34.16
Neutral
9.37
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:TNG, the sentiment is Negative. The current price of 0.94 is above the 20-day moving average (MA) of 0.79, above the 50-day MA of 0.79, and below the 200-day MA of 0.96, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 34.16 is Neutral, neither overbought nor oversold. The STOCH value of 9.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:TNG.
Transgene Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €150.06M | -2.97 | -658.91% | ― | -77.92% | 11.11% | |
48 Neutral | €208.49M | -3.19 | -634.16% | ― | 291.43% | 12.24% | |
46 Neutral | €1.54B | -60.16 | ― | ― | ― | ― | |
43 Neutral | €194.99M | -4.62 | -30.75% | ― | 32.62% | -7.59% | |
42 Neutral | €81.17M | -2.13 | -52.76% | ― | -96.25% | -197.89% | |
42 Neutral | €53.93M | -1.55 | ― | ― | 40.67% | 11.49% |
* General Sector Average
FR:TNG
Transgene
0.75
-0.14
-16.07%
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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.