ProMIS Neurosciences (FRA:23J0) Beneish M-Score : 0.00 (As of Mar. 27, 2025)

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What is ProMIS Neurosciences 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 ProMIS Neurosciences's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of ProMIS Neurosciences was 3.74. The lowest was -28.46. And the median was -3.71.

ProMIS Neurosciences Beneish M-Score Historical Data

The historical data trend for ProMIS Neurosciences'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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ProMIS Neurosciences Beneish M-Score Chart

ProMIS Neurosciences Annual Data

Trend

Mar14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-6.35

ProMIS Neurosciences Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of ProMIS Neurosciences's Beneish M-Score

For the Biotechnology subindustry, ProMIS Neurosciences'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.

ProMIS Neurosciences's Beneish M-Score Distribution in the Biotechnology Industry

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

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

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ProMIS Neurosciences 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 ProMIS Neurosciences 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 (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was €0.57 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €22.08 Mil.
Total Assets was €22.08 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.02 Mil.
Selling, General, & Admin. Expense(SGA) was €5.64 Mil.
Total Current Liabilities was €2.37 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was 8.358 + -2.438 + -3.344 + -3.283 = €-0.71 Mil.
Non Operating Income was 12.354 + 0.084 + 0.109 + 0.34 = €12.89 Mil.
Cash Flow from Operations was -6.011 + -1.398 + -9.468 + -3.446 = €-20.32 Mil.

Total Receivables was €0.16 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €16.73 Mil.
Total Assets was €16.75 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.01 Mil.
Selling, General, & Admin. Expense(SGA) was €6.42 Mil.
Total Current Liabilities was €9.23 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 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)
	=	(0.568 / 0)	/	(0.156 / 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 - (22.084 + 0) / 22.084)	/	(1 - (16.733 + 0) / 16.75)
	=	0	/	0.001015
	=

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))
	=	(0.005 / (0.005 + 0))	/	(0.017 / (0.017 + 0))
	=	1	/	1
	=

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)
	=	(5.639 / 0)	/	(6.418 / 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)
	=	((0 + 2.374) / 22.084)	/	((0 + 9.23) / 16.75)
	=	0.107499	/	0.551045
	=

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
	=	(-0.707 - 12.887	-	-20.323)	/	22.084
	=	0.3047

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.

ProMIS Neurosciences Beneish M-Score Related Terms

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ProMIS Neurosciences Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » ProMIS Neurosciences Inc (FRA:23J0) » Definitions » Beneish M-Score

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PMN:USA 23J0:Germany

Address

1920 Yonge Street, Suite 200, Toronto, ON, CAN, M4S 3E2

Website

https://www.promisneurosciences.com

ProMIS Neurosciences Inc is a clinical-stage biotechnology company focused on generating and developing antibody therapeutics selectively targeting toxic misfolded proteins in neurodegenerative diseases such as Alzheimer's disease (AD), amyotrophic lateral sclerosis (ALS) and multiple system atrophy (MSA). Its proprietary target discovery engine is based on the use of two complementary techniques. The company applies its thermodynamic, computational discovery platform-ProMIS and Collective Coordinates to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins.

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