APGE (Apogee Therapeutics) Beneish M-Score : 0.00 (As of Mar. 04, 2025)

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What is Apogee Therapeutics Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Apogee Therapeutics's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Apogee Therapeutics was 0.00. The lowest was 0.00. And the median was 0.00.

Apogee Therapeutics Beneish M-Score Historical Data

The historical data trend for Apogee Therapeutics's Beneish M-Score 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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Apogee Therapeutics Beneish M-Score Chart

Apogee Therapeutics Annual Data

Trend

Dec22

Dec23

Dec24

Beneish M-Score

Apogee Therapeutics Quarterly Data
	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial						-	-	-	-	-

Competitive Comparison of Apogee Therapeutics's Beneish M-Score

For the Biotechnology subindustry, Apogee Therapeutics's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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.

Apogee Therapeutics's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Apogee Therapeutics's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Apogee Therapeutics's Beneish M-Score falls into.

Apogee Therapeutics Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Apogee Therapeutics for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was $4.70 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $529.71 Mil.
Total Assets was $753.95 Mil.
Property, Plant and Equipment(Net PPE) was $13.32 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.19 Mil.
Selling, General, & Admin. Expense(SGA) was $49.01 Mil.
Total Current Liabilities was $28.56 Mil.
Long-Term Debt & Capital Lease Obligation was $8.60 Mil.
Net Income was -67.218 + -49.018 + -33.816 + -32.094 = $-182.15 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -67.714 + -42.524 + -29.3 + -31.636 = $-171.17 Mil.

Total Receivables was $1.21 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $398.41 Mil.
Total Assets was $401.40 Mil.
Property, Plant and Equipment(Net PPE) was $2.59 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $24.58 Mil.
Total Current Liabilities was $20.56 Mil.
Long-Term Debt & Capital Lease Obligation was $0.93 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(4.697 / 0)	/	(1.214 / 0)
	=		/
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (529.713 + 13.324) / 753.951)	/	(1 - (398.409 + 2.594) / 401.404)
	=	0.279745	/	0.000999
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	0
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0 / (0 + 2.594))	/	(0.189 / (0.189 + 13.324))
	=	0	/	0.013987
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(49.005 / 0)	/	(24.579 / 0)
	=		/
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((8.597 + 28.56) / 753.951)	/	((0.933 + 20.558) / 401.404)
	=	0.049283	/	0.05354
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-182.146 - 0	-	-171.174)	/	753.951
	=	-0.014553

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Apogee Therapeutics Beneish M-Score Related Terms

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Apogee Therapeutics Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Apogee Therapeutics Inc (NAS:APGE) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

221 Crescent Street, Building 17, Suite 102b, Waltham, MA, USA, 02453

Website

https://www.apogeetherapeutics.com

Apogee Therapeutics Inc is a biotechnology company seeking to develop differentiated biologics for the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD) and related inflammatory and immunology (I&I) indications with high unmet need. Its antibody programs are designed to overcome the limitations of existing therapies by targeting well-established mechanisms of action and incorporating advanced antibody engineering to optimize half-life and other properties. Its two programs are APG777 and APG808, which initially develop for treating AD and COPD, respectively.

Executives

Michael Thomas Henderson	director, officer: Chief Executive Officer	421 KIPLING STREET, PALO ALTO CA 94301
Carl Dambkowski	officer: Chief Medical Officer	221 CRESCENT ST., BUILDING 17, SUITE 102B, WALTHAM MA 02453
Mark C. Mckenna	director	400 SOMERSET CORPORATE BOULEVARD, BRIDGEWATER NJ 08807
Jane Henderson	officer: Chief Financial Officer	C/O ELEVEN BIOTHERAPEUTICS, INC., 215 FIRST STREET, CAMBRIDGE MA 02142
Nimish P Shah	director	7 BRYANT PARK, 23RD FLOOR, NEW YORK CITY NY 10018
Peter Evan Harwin	director	2001 MARKET STREET, SUITE 2500, PHILADELPHIA PA 19103
Jones William A Jr	director	NITROMED, INC., 125 SPRING STREET, LEXINGTON MA 02421
Fairmount Funds Management Llc	director	200 BARR HARBOR DRIVE, SUITE 400, WEST CONSHOHOCKEN PA 19428
Fairmount Healthcare Fund L.p.	director	2001 MARKET STREET, SUITE 2500, PHILADELPHIA PA 19103
Fairmount Healthcare Fund Ii L.p.	director	200 BARR HARBOR DRIVE, SUITE 400, WEST CONSHOHOCKEN PA 19428
Tomas Kiselak	director	2001 MARKET STREET, SUITE 2500, PHILADELPHIA PA 19103
Jennifer A. Fox	director	C/O NUVATION BIO INC., 1500 BROADWAY, SUITE 1401, NEW YORK NY 10036
Andrew Gottesdiener	director	3340 HILLVIEW AVE, PALO ALTO CA 94304
Fairmount Healthcare Co-invest Ii L.p.	director	200 BARR HARBOR DRIVE, SUITE 400, WEST CONSHOHOCKEN PA 19428