What is Frazier Lifesciences Acquisition Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, Frazier Lifesciences Acquisition's Probability of Financial Distress (%) is 0.00%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of Frazier Lifesciences Acquisition's Probability of Financial Distress (%)
For the Shell Companies subindustry, Frazier Lifesciences Acquisition's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Frazier Lifesciences Acquisition's Probability of Financial Distress (%) Distribution in the Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Frazier Lifesciences Acquisition's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Frazier Lifesciences Acquisition's Probability of Financial Distress (%) falls into.
Frazier Lifesciences Acquisition Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | 0.00 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.00% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
Frazier Lifesciences Acquisition (Frazier Lifesciences Acquisition) Business Description
Traded in Other Exchanges
N/A
Address
601 Union Street, Two Union Square, Suite 3200, Seattle, WA, USA, 9810
Frazier Lifesciences Acquisition Corp is a blank check company.
Executives
| David Joseph Topper |
director, officer: Chief Financial Officer |
C/O GENERAL ATLANTIC SERVICE COMPANY, LP, 55 EAST 52ND STREET, 32ND FLOOR, NEW YORK NY 10055 |
| Krishna R Polu |
director |
C/O RAPTOR PHARMACEUTICAL CORP, 7 HAMILTON LANDING, SUITE 100, NOVATO CA 94949 |
| Robert Jr. Baltera |
director |
6275 NANCY RIDGE DRIVE, SUITE 110, SAN DIEGO CA 92121 |
| Carol Giltner Gallagher |
director |
C/O ATARA BIOTHERAPEUTICS, INC., 3260 BAYSHORE BOULEVARD, BRISBANE CA 94005 |
| Michael Bigham |
director |
890 WINTER STREET, WALTHAM MA 02451 |
| Deerfield Management Company, L.p. (series C) |
10 percent owner, other: Possible Member of 10% Group |
345 PARK AVENUE SOUTH, 12TH FLOOR, NEW YORK NY 10010 |
| Deerfield Mgmt L.p. |
10 percent owner, other: Possible Member of 10% Group |
780 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017 |
| Deerfield Partners, L.p. |
10 percent owner, other: Possible Member of 10% Group |
345 PARK AVENUE SOUTH, 12TH FLOOR, NEW YORK NY 10010 |
| James E Flynn |
10 percent owner, other: Possible Member of 10% Group |
780 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017 |
| Viking Global Investors Lp |
10 percent owner |
600 WASHINGTON BLVD., FLOOR 11, STAMFORD CT 06901 |
| Ole Andreas Halvorsen |
10 percent owner |
600 WASHINGTON BLVD., FLOOR 11, STAMFORD CT 06901 |
| Viking Global Opportunities Parent Gp Llc |
10 percent owner |
600 WASHINGTON BLVD., FLOOR 11, STAMFORD CT 06901 |
| Rose Sharon Shabet |
10 percent owner |
600 WASHINGTON BLVD., FLOOR 11, STAMFORD CT 06901 |
| Viking Global Opportunities Illiquid Investments Sub-master Lp |
10 percent owner |
600 WASHINGTON BLVD., FLOOR 11, STAMFORD CT 06901 |
| Viking Global Opportunities Gp Llc |
10 percent owner |
55 RAILROAD AVENUE, GREENWICH CT 06830 |
Frazier Lifesciences Acquisition (Frazier Lifesciences Acquisition) Headlines
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