Gemina Laboratories Ltd. (GLAB) AI Stock Analysis

• Market Cap: C$4.59M
• Dividend Yield: N/A
• Average Volume (3M): 13.56K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.82
• Revenue Growth: N/A
• EPS Growth: 9.06%
• Country: CA
• Employees: 6
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): >-0.01
• Shares Outstanding: 76,570,910
• 10 Day Avg. Volume: 19,305
• 30 Day Avg. Volume: 13,558
• PEG Ratio: 0.42
• Price to Book (P/B): -9.02
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -30.74
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: C$0.06 ▼(-5.00% Downside)

The score is driven primarily by weak financial fundamentals (minimal revenue, large losses, and negative equity) and bearish technical conditions (price far below major moving averages with negative momentum). Valuation provides limited support because earnings are negative and there is no dividend yield.

Positive Factors

Strategic Shift

The shift to a licensing model can enhance scalability and reduce operational costs, potentially leading to sustainable revenue streams and strategic partnerships.

Leadership Change

Introducing a new CEO with a scientific background may drive innovation and align the company's strategic focus with market needs, potentially improving execution and growth prospects.

Cash Flow Improvement

Improved cash flow management indicates enhanced operational efficiency, which can extend the company's runway and reduce reliance on external financing.

Negative Factors

Negative Equity

Negative equity limits financial flexibility and increases funding risk, potentially hindering the company's ability to invest in growth and innovation.

Rising Debt Levels

Increased debt levels without asset expansion can strain financial resources, leading to higher interest obligations and reduced strategic options.

Pre-Revenue Losses

Ongoing pre-revenue losses highlight high execution risk, as the company must achieve revenue generation to offset costs and move toward profitability.

Gemina Laboratories Ltd. Business Overview & Revenue Model

Company Description

Gemina Laboratories Ltd., a biotechnology company, engages in the research, development, and commercialization of in-vitro diagnostics in Canada. The company develops novel surface functionalization chemistries for the detection of pathogens and biomarkers. It is developing POC Antigen COVID test, a point-of-care lateral flow assay test strip to test whether or not a person is currently infected with COVID-19. The company is headquartered in Vancouver, Canada.

How the Company Makes Money

Gemina Laboratories Ltd. generates revenue primarily through the sale of its diagnostic products to healthcare providers, laboratories, and other medical institutions. The company may also engage in partnerships and collaborations with other biotechnology firms and research institutions to enhance the development and distribution of its products. Licensing its proprietary technology to other companies for use in their diagnostic solutions could serve as an additional revenue stream. Furthermore, Gemina might receive funding or grants from governmental or non-governmental organizations interested in promoting advanced healthcare solutions.

Gemina Laboratories Ltd. Financial Statement Overview

Summary

Financials indicate a high-risk, pre-revenue profile: no revenue and negative gross profit across 2021–2025, continued net losses, and ongoing (though improving) cash burn. The balance sheet is a major concern with negative equity since 2023 and rising debt, increasing financing and solvency risk despite better 2025 cash outflow control.

Income Statement

Across 2021–2025 annual reports, the company reports no revenue and consistently negative gross profit, indicating ongoing pre-commercial operations and/or costs without offsetting sales. Losses have remained substantial (net income roughly -$0.8M in 2021 to about -$4.1M in 2025), with some improvement versus the peak loss year (2023–2024), but profitability is still not trending toward breakeven. Overall, the income statement profile reflects high execution risk until revenue generation begins and operating losses narrow further.

Balance Sheet

The balance sheet has weakened meaningfully: stockholders’ equity moved from positive in 2021–2022 to negative from 2023 onward, which reduces financial flexibility and increases funding risk. Total debt has risen sharply by 2025 (about $1.27M vs. ~$0.24M in 2023), while total assets have remained relatively flat to down, suggesting incremental leverage without clear asset expansion. A key positive is that debt is not large relative to total assets, but the negative equity position is a material overhang.

Cash Flow

Cash burn remains significant, with operating cash flow and free cash flow negative each year. The main improvement is a sharp reduction in cash outflow in 2025 (operating/free cash flow around -$1.3M vs. roughly -$3.2M to -$4.6M in 2022–2024), which suggests better cost control or timing benefits. However, free cash flow is still negative and the business likely depends on external financing until it can generate sustainable operating inflows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.88K	0.00	0.00	0.00	0.00	0.00
Gross Profit	-23.89K	-113.24K	-93.37K	-50.28K	-43.83K	-12.09K
EBITDA	-2.78M	-3.80M	-5.18M	-5.93M	-4.69M	-819.60K
Net Income	-2.93M	-4.07M	-5.22M	-5.98M	-4.74M	-834.15K
Balance Sheet
Total Assets	1.11M	1.44M	1.46M	1.87M	1.42M	2.53M
Cash, Cash Equivalents and Short-Term Investments	-613.00	703.00	990.00	83.09K	1.17M	898.05K
Total Debt	240.11K	1.27M	485.33K	240.84K	46.08K	98.13K
Total Liabilities	6.25M	5.87M	3.04M	1.95M	475.92K	2.37M
Stockholders Equity	-5.14M	-4.44M	-1.59M	-71.81K	944.23K	159.96K
Cash Flow
Free Cash Flow	586.00	-1.30M	-3.29M	-4.59M	-3.88M	-319.09K
Operating Cash Flow	582.00	-1.30M	-3.24M	-4.51M	-3.87M	-319.09K
Investing Cash Flow	18.42K	18.42K	-41.35K	-505.07K	8.20K	13.91K
Financing Cash Flow	-61.22K	1.28M	3.20M	3.94M	4.14M	2.72M

Gemina Laboratories Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GLAB, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.22, and below the 200-day MA of 0.65, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 21.93 is Positive, neither overbought nor oversold. The STOCH value of 31.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:GLAB.

Gemina Laboratories Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ENBI	47 Neutral	$1.39M	-3.36	-107.76%	―	―	34.22%
MOOD	47 Neutral	C$6.25M	-7.75	-41.36%	―	-50.89%	-32.33%
HEAL	44 Neutral	C$4.02M	-2.58	―	―	―	―
GLAB	41 Neutral	C$4.59M	-1.54	―	―	―	9.06%

Gemina Laboratories Ltd. Corporate Events

Gemina Laboratories Plans Secured Debenture Financing and Voluntary CSE Delisting

Gemina Laboratories Ltd. plans to raise between $1 million and $3 million through a non-brokered private placement of secured, non-convertible debentures, each with a $1,000 face value, a 12-month term and an 18% annual interest rate, secured by a first-priority charge over the company’s intellectual property. The debentures will give majority holders substantial governance rights, including the ability to appoint at least half of the board and approve any new material liabilities, and proceeds are earmarked to repay specific secured debt, including a shareholder loan, and to bolster general working capital. The offering, which may close in tranches by mid-January 2026, is contingent on using proceeds to fully discharge existing secured debt and remains subject to regulatory approvals and execution of definitive agreements, with no certainty it will be completed as proposed. In tandem, Gemina intends to voluntarily delist its common shares from the CSE, pending exchange and disinterested shareholder approval expected at a meeting in February 2026, arguing that leaving the public market in the face of prolonged weak conditions will cut listing-related costs, preserve capital and provide greater flexibility in securing funding, a move that could significantly reshape its capital structure and governance while reducing public-market liquidity for existing shareholders.

Gemina Laboratories Appoints New CEO and Shifts Strategic Focus

Gemina Laboratories Ltd. announced a leadership change with Robert Greene, the original scientific founder and Chief Technology Officer, appointed as the new CEO. The company is shifting its revenue strategy from developing in-house rapid tests to a licensing model, aiming for long-term partnerships with established diagnostic companies, which is expected to be validated by 2026.