PharmaTher Holdings Ltd (PHRM) AI Stock Analysis

• Market Cap: C$9.10M
• Dividend Yield: N/A
• Average Volume (3M): 158.34K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.17
• Revenue Growth: N/A
• EPS Growth: 27.35%
• Country: CA
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 91,019,066
• 10 Day Avg. Volume: 117,358
• 30 Day Avg. Volume: 158,340
• PEG Ratio: 0.20
• Price to Book (P/B): 16.46
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -13.24
• 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: 45 Neutral
• Price Target: C$0.10 ▼(-2.00% Downside)

Overall score is held down primarily by weak financial performance (pre-revenue, ongoing losses/negative cash flow, shrinking equity) and bearish technical signals (below major moving averages with negative MACD). Positive corporate events (asset sale and program focus) provide some offset, but valuation support is limited given negative earnings and no dividend yield provided.

PharmaTher Holdings Ltd Business Overview & Revenue Model

Company Description

PharmaTher Holdings Ltd., a clinical-stage psychedelics biotech company, focuses on the research, development, and commercialization of novel uses, formulations, and delivery methods of psychedelics to treat mental illness, neurological, and pain disorders. The company's product in pipeline includes Ketamine intravenous injection, which is in Phase II and III clinical trials for Parkinson's disease, anesthesia and sedation, and amyotrophic lateral sclerosis indications. Its pipeline also comprises Ketamine Patch that is in Phase I and II clinical trials for treating depression, mental health, complex regional pain syndrome, and pain disorders; and Ketamine Pump, which is in Phase II clinical trial to treat metal health, pain disorders, and surgery/procedure. In addition, the company engages in the development of PHARMAPATCH, a microneedle patch to deliver psychedelics. It has collaboration agreements with LTS Lohmann Therapie-Systeme AG for developing Ketamin microneedle patch; Alcami Corporation to develop Ketamin injectables/infusions; BioRAE, Inc. for the development of Ketamin pumps; Revive Therapeutics Ltd. to develop psilocybin microneedle patch; Gesval S.A. for the development of patented continuous-flow process technology for the preparation of ketamine and ketamine analogs; and PharmaTher's to create a proprietary wearable ketamine delivery solution for mental health, neurological and pain disorders. The company was incorporated in 2019 and is headquartered in Toronto, Canada.

How the Company Makes Money

PharmaTher Holdings Ltd generates revenue primarily through the development and commercialization of its proprietary psychedelic-based therapies. The company's revenue model includes licensing agreements, partnerships, and collaborative research and development efforts with other pharmaceutical companies. These agreements often involve upfront payments, milestone payments, and royalties on sales of successful therapies. Additionally, PharmaTher may receive funding from grants and government programs that support research in psychedelic medicine. The company's focus on strategic collaborations and intellectual property development plays a critical role in its ability to generate revenue and sustain growth in the competitive biotech landscape.

PharmaTher Holdings Ltd Financial Statement Overview

Summary

PharmaTher Holdings Ltd faces significant financial challenges, with no revenue generation and consistent operational losses. Despite a strong equity position due to zero debt, declining assets and equity raise concerns about financial health. Negative cash flows highlight the company's dependence on external financing, emphasizing the need for strategic changes to improve revenue generation and operational efficiency.

Income Statement

The company has consistently reported zero revenue over recent periods, indicating a lack of income generation from its operations. Net income remains negative, with significant losses reported, which is a concern for financial sustainability. EBIT and EBITDA margins are also negative, highlighting operational inefficiencies and high costs relative to non-existent revenues. The company faces challenges in achieving profitability.

Balance Sheet

The company maintains a strong equity position with zero debt, resulting in a favorable debt-to-equity ratio. However, the declining stockholders' equity and total assets over time reflect potential asset erosion and reduced investor support. The absence of liabilities provides financial stability, yet the overall decrease in assets and equity remains a concern.

Cash Flow

Operating cash flow is consistently negative, indicating cash outflows from core operations. Free cash flow also remains negative, suggesting the company struggles to generate cash to fund operations or growth. The reliance on financing activities for cash inflow suggests potential difficulties in sustaining operations without external funding.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	-711.00	-1.42K	-1.78K	-355.00
EBITDA	-1.65M	-1.52M	-3.04M	-3.96M	-3.96M	-2.43M
Net Income	-1.59M	-1.53M	-3.12M	-6.42M	-4.01M	2.66M
Balance Sheet
Total Assets	1.26M	1.34M	2.59M	6.31M	12.16M	5.94M
Cash, Cash Equivalents and Short-Term Investments	1.04M	1.12M	2.30M	6.25M	12.12M	5.88M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	472.86K	366.33K	252.90K	892.48K	330.32K	361.06K
Stockholders Equity	784.35K	973.54K	2.34M	5.42M	11.83M	5.58M
Cash Flow
Free Cash Flow	-1.11M	-1.21M	-3.52M	-3.24M	-3.51M	917.92K
Operating Cash Flow	-1.11M	-1.21M	-3.52M	-3.24M	-3.51M	922.19K
Investing Cash Flow	0.00	0.00	-300.00K	0.00	0.00	214.77K
Financing Cash Flow	250.00K	0.00	35.00K	0.00	9.89M	1.25M

PharmaTher Holdings Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PHRM, the sentiment is Negative. The current price of 0.1 is below the 20-day moving average (MA) of 0.11, below the 50-day MA of 0.12, and below the 200-day MA of 0.26, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 40.88 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PHRM.

PharmaTher Holdings 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%
PHRM	45 Neutral	C$9.10M	-5.62	-112.32%	―	―	27.35%
DOSE	43 Neutral	C$17.80M	-3.78	―	―	95.76%	22.56%
BCT	43 Neutral	C$18.90M	-0.15	-409.25%	―	―	62.01%
HEM	41 Neutral	C$16.96M	-3.09	―	―	―	-24.89%

PharmaTher Holdings Ltd Corporate Events

PharmaTher CEO Targets 2026 Asset Monetization After Ketamine ANDA Sale and FDA Win

PharmaTher CEO Fabio Chianelli outlined how 2025 marked a transition from development to validation, highlighted by U.S. FDA approval of the company’s ketamine ANDA and its subsequent sale in a deal structured with upfront payments, milestones and profit-sharing that could exceed US$25 million. With reduced cash burn, a lean operating structure and expected receipts from the ketamine ANDA sale, PharmaTher says it is positioned to pursue 2026 goals without raising additional operating funds, focusing on international ketamine commercialization, strategic partnerships in Parkinson’s disease and drug delivery, monetization of its stake in Sairiyo Therapeutics, and development of next-generation and long-acting ketamine programs and platform tools such as KetaVault and KetAImine to accelerate asset monetization and strengthen its position as an asset-focused value creation company.

The most recent analyst rating on (TSE:PHRM) stock is a Hold with a C$0.10 price target. To see the full list of analyst forecasts on PharmaTher Holdings Ltd stock, see the TSE:PHRM Stock Forecast page.

PharmaTher Sells Ketamine ANDA to Focus on Long-Acting Injectable Program

PharmaTher Holdings Ltd. has completed the sale of its Abbreviated New Drug Application for Ketamine Hydrochloride Injection USP, receiving an upfront cash payment and potential future milestone and profit-sharing payments. This move allows PharmaTher to concentrate on its long-acting injectable ketamine program, which aims to provide a more convenient and effective treatment option for neuropsychiatric disorders, potentially improving patient adherence and expanding market access.

PharmaTher Secures Rights to Long-Acting Ketamine Program for Neuropsychiatric Disorders

PharmaTher Holdings Ltd. has entered into an exclusive agreement with Oakwood Laboratories to evaluate and potentially license a patented long-acting injectable ketamine program. This initiative is part of PharmaTher’s strategy to enhance its ketamine franchise by offering a differentiated product that could redefine treatment standards for neuropsychiatric disorders. The program aims to provide more convenient dosing, improve patient adherence, and expand access to ketamine-based therapies, potentially offering significant commercial and strategic advantages.

PharmaTher Poised for Growth as FDA Prioritizes Ketamine

PharmaTher Holdings Ltd. applauds the FDA’s selection of ketamine as a national priority under the Commissioner’s National Priority Voucher (CNPV) pilot program, which is expected to boost demand for ketamine in the U.S. The company is strategically positioned to benefit from this development through its previous ANDA sale, which allows for economic participation without significant capital investment. This move aligns with PharmaTher’s capital-light strategy, potentially accelerating its 505(b)(2) ketamine-based programs and enhancing its market positioning.

PharmaTher Advances Phase 3 FDA Package for Ketamine in Parkinson’s Treatment

PharmaTher Holdings Ltd. is advancing its Phase 3 FDA package for the use of ketamine in treating levodopa-induced dyskinesia in Parkinson’s disease. The company is preparing for a meeting with the FDA to align on a single, well-controlled Phase 3 study under the 505(b)(2) pathway. This strategic move aims to leverage existing clinical evidence and intellectual property, with the potential to tap into a significant market opportunity estimated at US$0.75-$2.2 billion. The company is also in discussions with potential partners for co-development and licensing, which could accelerate timelines and optimize commercial reach.

PharmaTher Launches AI Platform to Expand Ketamine Portfolio

PharmaTher Holdings Ltd. has announced the launch of KetAImine™, an AI-driven platform designed to expand its ketamine portfolio and accelerate FDA approval processes. This initiative aims to unlock new medical indications and create partnering opportunities by discovering novel uses and drug combinations with ketamine. The platform, part of PharmaTher’s Digital Health AI division, will enhance the company’s market positioning by enabling earlier partnerships and fast-tracking regulatory pathways, potentially benefiting stakeholders through quicker access to innovative therapies.