N4 Pharma PLC (GB:THAT)
LSE:THAT
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N4 Pharma
(LSE:THAT)
Select Model
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Rating:42Neutral
Price Target:
0.50 p
▼(-16.00% Downside)
Action:N/ADate:01/04/26
The score is primarily held back by weak financial performance—persistent losses, ongoing cash burn, and shrinking equity—despite the benefit of having no debt. Technicals also point to a downtrend (negative MACD and price below key moving averages), while valuation is constrained by negative earnings and no dividend support.
N4 Pharma (THAT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£3.75M
Dividend YieldN/A
Average Volume (3M)552.75K
Price to Earnings (P/E)―
Beta (1Y)1.22
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees4
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)N/A
Shares Outstanding832,280,330
10 Day Avg. Volume400,768
30 Day Avg. Volume552,755
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)2.76
Price to Sales (P/S)245.40
P/FCF Ratio-1.84
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
N4 Pharma Business Overview & Revenue Model
Company Description
Thalia Therapeutics Plc, a specialist pharmaceutical company, develops nanoparticle silica delivery systems to enhance the cellular delivery and potency of cancer treatments and vaccines in the United Kingdom. It develops Nuvec, a silica nanoparti...
How the Company Makes Money
N4 Pharma’s business model is primarily to monetize its Nuvec® delivery technology through partnering and licensing rather than commercializing a large portfolio of finished pharmaceuticals itself. Revenue, when generated, is expected to come from...
N4 Pharma Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
44
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.69K | 7.28K | 1.95K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 7.28K | 1.95K | 0.00 | 0.00 | 0.00 |
| EBITDA | -470.22K | -1.22M | -1.33M | -1.19M | -1.84M | -1.56M |
| Net Income | -498.55K | -1.06M | -1.27M | -1.03M | -1.54M | -1.30M |
Balance Sheet | ||||||
| Total Assets | 1.85M | 775.77K | 1.28M | 2.17M | 2.34M | 3.83M |
| Cash, Cash Equivalents and Short-Term Investments | 1.73M | 625.97K | 1.03M | 1.92M | 1.78M | 3.56M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 78.37K | 124.37K | 81.73K | 77.89K | 212.73K | 169.08K |
| Stockholders Equity | 1.77M | 647.65K | 1.13M | 2.09M | 2.13M | 3.66M |
Cash Flow | ||||||
| Free Cash Flow | -444.37K | -971.50K | -1.21M | -828.26K | -1.77M | -1.38M |
| Operating Cash Flow | -444.37K | -971.50K | -1.21M | -828.26K | -1.77M | -1.38M |
| Investing Cash Flow | 0.00 | 0.00 | 781.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | 1.55M | 570.36K | 315.90K | 963.77K | 677.00 | 3.97M |
N4 Pharma Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | £59.63M | -44.80 | 3.55% | ― | 1.44% | 359.79% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | £100.86M | -4.82 | 206.44% | ― | 93.48% | 51.18% | |
45 Neutral | £22.29M | -11.67 | -51.21% | ― | 61.13% | 33.33% | |
42 Neutral | £3.75M | -1.08 | -91.34% | ― | ― | ― | |
42 Neutral | £2.66M | -1.61 | ― | ― | ― | ― |
* Healthcare Sector Average
GB:THAT
N4 Pharma
0.68
0.30
80.00%
GB:EAH
Eco Animal Health
93.50
40.00
74.77%
GB:CHLL
Chill Brands Group PLC
0.53
-1.63
-75.58%
GB:HELD
Mountfield
0.95
0.00
0.00%
GB:PXS
Provexis
1.00
0.50
100.00%
GB:STX
Shield Therapeutics
9.40
6.65
241.82%
N4 Pharma Corporate Events
Business Operations and StrategyShareholder Meetings
N4 Pharma Plans Rebrand to Thalia Therapeutics to Reflect RNA-Focused Strategy
Positive
Feb 27, 2026
N4 Pharma plc, the UK biotech behind the Nuvec gene delivery system for cancer and other advanced therapies, is repositioning itself as a therapeutics-focused biotechnology business with an expanded pipeline of RNA-based drugs. Reflecting this str...
Business Operations and StrategyExecutive/Board Changes
N4 Pharma Rebrands as Thalia Therapeutics and Hires New CEO to Drive RNA Pivot
Positive
Feb 24, 2026
N4 Pharma is a UK-based biotechnology group specialising in Nuvec, its proprietary RNA and gene delivery platform aimed at enabling advanced cancer and other nucleic acid therapies. It is repositioning as an RNA therapeutics company with an expand...
Business Operations and StrategyProduct-Related Announcements
N4 Pharma Advances Nuvec® Platform with Strategic Collaborations and Patent Strengthening
Positive
Dec 17, 2025
N4 Pharma has provided an operational update highlighting its collaboration with the University of Strathclyde, which is progressing well towards key studies in 2026. The company is focusing on demonstrating the competitive advantages of its Nuvec...
Business Operations and StrategyProduct-Related Announcements
N4 Pharma Advances Nuvec® Gene Delivery System with Key Collaborations and Patent Strengthening
Positive
Dec 17, 2025
N4 Pharma has announced significant progress in its collaboration with the University of Strathclyde, focusing on the development of its Nuvec® gene delivery system. The company is working towards key studies in 2026 to demonstrate Nuvec®...
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.