What is ImmunityBio 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, ImmunityBio's Probability of Financial Distress (%) is 0.04%.
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 ImmunityBio's Probability of Financial Distress (%)
For the Biotechnology subindustry, ImmunityBio'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.
ImmunityBio's Probability of Financial Distress (%) Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, ImmunityBio's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where ImmunityBio's Probability of Financial Distress (%) falls into.
ImmunityBio 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 |
| = | -7.72 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.04% |
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).
ImmunityBio (ImmunityBio) Business Description
Traded in Other Exchanges
Address
3530 John Hopkins Court, San Diego, CA, USA, 92121
ImmunityBio Inc is a late-clinical-stage immunotherapy company developing next-generation therapies that drive immunogenic mechanisms for defeating cancers and infectious diseases. Geographically, the company operates in United States and Europe. Majority of the revenue is generated from Europe.
Executives
| Patrick Soon-shiong |
director, 10 percent owner, officer: See remarks |
9922 JEFFERSON BOULEVARD, CULVER CITY CA 90232 |
| California Capital Equity, Llc |
10 percent owner |
10182 CULVER BOULEVARD, CULVER CITY CA 90232 |
| Nant Capital, Llc |
10 percent owner |
9922 JEFFERSON BOULEVARD, CULVER CITY CA 90232 |
| Cambridge Equities, Lp |
10 percent owner |
9922 JEFFERSON BOULEVARD, CULVER CITY CA 90232 |
| Mp 13 Ventures, Llc |
10 percent owner |
9922 JEFFERSON BOULEVARD, CULVER CITY CA 90232 |
| Michael D Blaszyk |
director |
C/O NANTKWEST, INC., 2533 SOUTH COAST HIGHWAY 101, SUITE 210, CARDIFF-BY-THE-SEA CA 92007 |
| John Owen Brennan |
director |
C/O IMMUNITYBIO, INC., 3530 JOHN HOPKINS COURT, SAN DIEGO CA 92121 |
| Wesley Clark |
director |
C/O ARGYLE SECURITY ACQUISITION CORP., 200 CONCORD PLAZA, SUITE 700, SAN ANTONIO TX 78216 |
| Regan J Lauer |
officer: Chief Accounting Officer |
4250 EXECUTIVE SQUARE SUITE 300, LA JOLLA CA 92037 |
| Richard Adcock |
officer: Chief Executive Officer |
C/O IMMUNITYBIO, INC., 3530 JOHN HOPKINS COURT, SAN DIEGO CA 92121 |
| Cheryl Cohen |
director |
C/O MEDIVATION, INC., 201 SPEAR ST., 3RD FLOOR, SAN FRANCISCO CA 94105 |
| Linda Maxwell |
director |
1040 SPRING STREET, SILVER SPRING NC 27709 |
| Christobel Selecky |
director |
C/O IMMUNITYBIO, INC., 3530 JOHN HOPKINS COURT, SAN DIEGO CA 92121 |
| David C. Sachs |
officer: Chief Financial Officer |
C/O IMMUNITYBIO, INC., 3530 JOHN HOPKINS COURT, SAN DIEGO CA 92121 |
| Frederick W Driscoll |
director |
|
ImmunityBio (ImmunityBio) Headlines
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