NeuroBo Pharmaceuticals (NeuroBo Pharmaceuticals) Beneish M-Score : 0.00 (As of Apr. 24, 2024)

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

During the past 10 years, the highest Beneish M-Score of NeuroBo Pharmaceuticals was 0.00. The lowest was 0.00. And the median was 0.00.

NeuroBo Pharmaceuticals Beneish M-Score Historical Data

The historical data trend for NeuroBo Pharmaceuticals'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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NeuroBo Pharmaceuticals Beneish M-Score Chart

NeuroBo Pharmaceuticals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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NeuroBo Pharmaceuticals Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of NeuroBo Pharmaceuticals's Beneish M-Score

For the Biotechnology subindustry, NeuroBo Pharmaceuticals'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.

NeuroBo Pharmaceuticals's Beneish M-Score Distribution in the Biotechnology Industry

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

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

NeuroBo Pharmaceuticals 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 NeuroBo Pharmaceuticals 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 (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $22.51 Mil.
Total Assets was $22.78 Mil.
Property, Plant and Equipment(Net PPE) was $0.25 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $6.73 Mil.
Total Current Liabilities was $5.96 Mil.
Long-Term Debt & Capital Lease Obligation was $0.14 Mil.
Net Income was -5.314 + -3.818 + -0.734 + -2.604 = $-12.47 Mil.
Non Operating Income was 0.054 + -0.087 + 3.072 + -0.084 = $2.96 Mil.
Cash Flow from Operations was -3.393 + -2.814 + -2.045 + -2.547 = $-10.80 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $33.53 Mil.
Total Assets was $33.53 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 $8.64 Mil.
Total Current Liabilities was $11.78 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 / 0)	/	(0 / 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 - (22.512 + 0.248) / 22.781)	/	(1 - (33.532 + 0.002) / 33.534)
	=	0.000922	/	0
	=

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))
	=	(0.02 / (0.02 + 0.002))	/	(0.006 / (0.006 + 0.248))
	=	0.909091	/	0.023622
	=

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)
	=	(6.728 / 0)	/	(8.64 / 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)
	=	((0.136 + 5.96) / 22.781)	/	((0 + 11.784) / 33.534)
	=	0.267591	/	0.351405
	=

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
	=	(-12.47 - 2.955	-	-10.799)	/	22.781
	=	-0.203064

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.

NeuroBo Pharmaceuticals Beneish M-Score Related Terms

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NeuroBo Pharmaceuticals (NeuroBo Pharmaceuticals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » NeuroBo Pharmaceuticals Inc (NAS:NRBO) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

200 Berkeley Street, Office 19th Floor, Boston, MA, USA, 02116

Website

https://www.neurobopharma.com

NeuroBo Pharmaceuticals Inc is a clinical-stage biotechnology company focused primarily on developing and commercializing novel pharmaceuticals to treat cardiometabolic diseases. The company has two primary programs focused on the treatment of nonalcoholic steatohepatitis (NASH), obesity, and type 2 diabetes (T2D): DA-1241 which is a novel G-Protein-Coupled Receptor 119 (GPR119) and DA-1726 which is a novel oxyntomodulin (OXM) analog. The company also has four legacy therapeutics programs designed to impact a range of indications in viral, neurodegenerative, and cardiometabolic diseases: ANA001, NB-01, NB-02, and Gemcabene.

Executives

James Patrick Tursi	director	106 ASHLEY COURT, MOORESTOWN NJ 08057
Marshall H Woodworth	officer: Acting Chief Financial Officer	C/O NEUROBO PHARMACEUTICALS, INC., 545 CONCORD AVENUE, SUITE 210, CAMBRIDGE MA 02138
Mark A Glickman	director	C/O ESPERION THERAPEUTICS, INC., 3891 RANCHERO DRIVE, SUITE 150, ANN ARBOR MI 48108
Joseph Hooker	officer: Interim CEO and President	C/O NEUROBO PHARMACEUTICALS, INC., 200 BERKELEY ST, OFFICE 19TH FLOOR, BOSTON MA 02116
Goldman Sachs Group Inc	10 percent owner	200 WEST STREET, NEW YORK NY 10282
Goldman Sachs & Co. Llc	10 percent owner	200 WEST STREET, NEW YORK NY 10282
E&healthcare Investment Fund Ii	10 percent owner	16TH FLOOR, YEOKSAM I-TOWER, 326, TEHERAN-RO, GANGNAM-GU, SEOUL M5 06211
E&investment, Inc.	10 percent owner	16TH FLOOR, YEOKSAM I-TOWER, B/D 326, TEHERAN-RO, GANGNAM-GU, SEOUL M5 00000
Hyung Heon Kim	director	C/O DONG-A ST & DONG-A SOCIO GROUP, 64 CHEONHO DAERO, DONGDAEMUN-GU, SEOUL M5 00000
Andrew I Koven	director	3 COLUMBUS CIRCLE, SUITE 1710, C/O ARALEZ PHARMACEUTICALS INC., NEW YORK NY 10019
Na Yeon Kim	director, 10 percent owner	C/O NEUROBO PHARMACEUTICALS, INC., 177 HUNTINGTON AVENUE, SUITE 1700, BOSTON MA 02115
Richard Kang	director	9451 SUNNYFIELD COURT, POTOMAC MD 20854
D Gordon Strickland	director	C/O AMPEX CORPORATION, 1228 DOUGLAS AVENUE, REDWOOD CITY CA 94063
Ben Gil Price	officer: CEO and President	8297 CHAMPIONS GATE BLVD. #444, CHAMPIONS GATE FL 33896
Akash Bakshi	director, officer: SVP and COO	602 BAINBRIDGE STREET, FOSTER CITY CA 94404