What is Tenaya Therapeutics 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, Tenaya Therapeutics's Probability of Financial Distress (%) is 0.18%.
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 Tenaya Therapeutics's Probability of Financial Distress (%)
For the Biotechnology subindustry, Tenaya Therapeutics'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.
Tenaya Therapeutics's Probability of Financial Distress (%) Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Tenaya Therapeutics's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Tenaya Therapeutics's Probability of Financial Distress (%) falls into.
Tenaya Therapeutics 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 |
| = | -6.33 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.18% |
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).
Tenaya Therapeutics (Tenaya Therapeutics) Business Description
Traded in Other Exchanges
N/A
Address
171 Oyster Point Boulevard, Suite 500, South San Francisco, CA, USA, 94080
Tenaya Therapeutics Inc is a preclinical stage biotechnology company focused on discovering, developing, and delivering curative therapies that address the underlying drivers of heart disease. It is advancing product candidates from three product platforms: gene therapy, cellular regeneration, and precision medicine.
Executives
| Timothy Hoey |
officer: Chief Scientific Officer |
C/O TENAYA THERAPEUTICS, INC., 171 OYSTER POINT BOULEVARD, 5TH FLR., SOUTH SAN FRANCISCO CA 94080 |
| Leone D Patterson |
officer: Chief Fin and Bus. Officer |
|
| Whittemore Tingley |
officer: Chief Medical Officer |
C/O TENAYA THERAPEUTICS, INC., 171 OYSTER POINT BOULEVARD, SOUTH SAN FRANCISCO CA 94080 |
| Faraz Ali |
director, officer: Chief Executive Officer |
C/O TENAYA THERAPEUTICS, INC., 171 OYSTER POINT BLVD., 5TH FLR., SOUTH SAN FRANCISCO Z4 94080 |
| David V Goeddel |
director, 10 percent owner |
C/O COLUMN GROUP LP, 1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158 |
| Column Group Iii Gp, Lp |
10 percent owner |
1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158 |
| Amy L. Burroughs |
director |
TWO CARLSON PARKWAY, SUITE 260, MINNEAPOLIS MN 55447 |
| Column Group Iii, Lp |
10 percent owner |
1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158 |
| Column Group Opportunity Iii Gp, Lp |
10 percent owner |
1 LETTERMAN DRIVE, BUILDING D, SUITE DM-900, SAN FRANCISCO CA 94129 |
| Tcg Opportunity Iii Gp, Llc |
10 percent owner |
1 LETTERMAN DRIVE, BUILDING D, SUITE DM-900, SAN FRANCISCO CA 94129 |
| Column Group Opportunity Iii, Lp |
10 percent owner |
1 LETTERMAN DRIVE, BUILDING D, SUITE DM-900, SAN FRANCISCO CA 94129 |
| Deepak Srivastava |
director |
C/O TENAYA THERAPEUTICS, INC., 171 OYSTER POINT BOULEVARD, SOUTH SAN FRANCISCO CA 94080 |
| Column Group Iii-a, Lp |
10 percent owner |
1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158 |
| Eli Casdin |
director |
1350 AVENUE OF THE AMERICAS, SUITE 1140, NEW YORK NY 10019 |
| Casdin Capital, Llc |
director |
1350 AVENUE OF THE AMERICAS, SUITE 2600, NEW YORK NY 10019 |
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