OCEA (Ocean Biomedical) Effective Interest Rate on Debt % : 9.80% (As of Sep. 2023)

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What is Ocean Biomedical Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Ocean Biomedical's annualized positive value of Interest Expense for the quarter that ended in Sep. 2023 was $1.17 Mil. Ocean Biomedical's average total debt for the quarter that ended in Sep. 2023 was $11.96 Mil. Therefore, Ocean Biomedical's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2023 was 9.80%.

Ocean Biomedical Effective Interest Rate on Debt % Historical Data

The historical data trend for Ocean Biomedical's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Ocean Biomedical Effective Interest Rate on Debt % Chart

Ocean Biomedical Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Effective Interest Rate on Debt %

0.05

Ocean Biomedical Quarterly Data
	Dec19	Mar20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial										31.94	-23.26	26.12	28.22	9.80

Competitive Comparison of Ocean Biomedical's Effective Interest Rate on Debt %

For the Biotechnology subindustry, Ocean Biomedical's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % 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.

Ocean Biomedical's Effective Interest Rate on Debt % Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Ocean Biomedical's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Ocean Biomedical's Effective Interest Rate on Debt % falls into.

Ocean Biomedical Effective Interest Rate on Debt % Calculation

Ocean Biomedical's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2022 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2021 )	+	Total Debt (A: Dec. 2022 ))	/ count )
=	-1 * -0.001	/	( (0	+	2.15)	/ 1 )
=	-1 * -0.001	/	2.15
=	0.05 %

where

	Total Debt (A: Dec. 2021 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0
=	0

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	2.15
=	2.15

Ocean Biomedical's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Jun. 2023 )	+	Total Debt (Q: Sep. 2023 ))	/ count )
=	-1 * -1.172	/	( (11.871	+	12.051)	/ 2 )
=	-1 * -1.172	/	11.961
=	9.80 %

where

	Total Debt (Q: Jun. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	11.871
=	11.871

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	12.051
=	12.051

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Sep. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Ocean Biomedical (NAS:OCEA) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Ocean Biomedical Effective Interest Rate on Debt % Related Terms

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Ocean Biomedical Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Ocean Biomedical Inc (NAS:OCEA) » Definitions » Effective Interest Rate on Debt %

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Traded in Other Exchanges

8AW0:Germany

Address

55 Claverick Street, Room 325, Providence, RI, USA, 02903

Website

https://www.oceanbiomedical.com

Ocean Biomedical Inc is a biopharmaceutical company. It is dedicated towards partnering with inventor-scientists and research institutes to bridge the gap between basic research and clinical development, to get new medicines to the patients who need it most.

Executives

Robert J Sweeney	officer: Chief Accounting Officer	20298 CRAIGEN CIRCLE, SARATOGA CA 95070
M Michelle Berrey	director	303A COLLEGE ROAD EAST, PRINCETON NJ 08450
William F Owens	director	C/O KEY ENERGY SERVICES, INC., 1301 MCKINNEY STREET, SUITE 1800, HOUSTON TX 77010
Inderjote S Kathuria	officer: Chief Strategy Officer	19W060 AVENUE LATOUR, OAK BROOK IL 60523
Gurinder S Kalra	officer: Chief Financial Officer	2305 WASHINGTON STREET, APT 301, SAN FRANCISCO CA 94115
Chirinjeev Kathuria	director	C/O UPHEALTH HOLDINGS, INC., 14000 S. MILITARY TRAIL #203, DELRAY BEACH FL 33484
Jerome Ringo	director	1731 EMBARCADERO ROAD SUITE 200, PALO ALTO CA 94303
Poseidon Bio, Llc	10 percent owner	OCEAN BIOMEDICAL, INC., 55 CLAVERICK ST., ROOM 325, PROVIDENCE RI 02903
Daniel Behr	officer: EVP, Innov./Acad. P'ships Head	OCEAN BIOMEDICAL, INC., 55 CLAVERICK ST., ROOM 325, PROVIDENCE RI 02903
Jack A Elias	director	OCEAN BIOMEDICAL, INC., 55 CLAVERICK ST., ROOM 325, PROVIDENCE RI 02903
Jonathan Kurtis	director	OCEAN BIOMEDICAL, INC., 55 CLAVERICK ST., ROOM 325, PROVIDENCE RI 02903
Elizabeth Ng	director, officer: Chief Executive Officer	OCEAN BIOMEDICAL, INC., 55 CLAVERICK ST., ROOM 325, PROVIDENCE RI 02903
Martin D Angle	director	OCEAN BIOMEDICAL, INC., 55 CLAVERICK ST., ROOM 325, PROVIDENCE RI 02903
Aesther Healthcare Sponsor, Llc	10 percent owner	515 MADISON AVE., SUITE 8078, NEW YORK NY 10022
Michael L Peterson	director	17 CANARY COURT, DANVILLE CA 94526