Palisade Bio (Palisade Bio) Beneish M-Score : 0.00 (As of Jun. 18, 2024)

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

During the past 4 years, the highest Beneish M-Score of Palisade Bio was 0.00. The lowest was 0.00. And the median was 0.00.

Palisade Bio Beneish M-Score Historical Data

The historical data trend for Palisade Bio'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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Palisade Bio Beneish M-Score Chart

Palisade Bio Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Palisade Bio Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial											-	-	-	-	-

Competitive Comparison of Palisade Bio's Beneish M-Score

For the Biotechnology subindustry, Palisade Bio'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.

Palisade Bio's Beneish M-Score Distribution in the Biotechnology Industry

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

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

Palisade Bio 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 Palisade Bio 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 (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $0.15 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $12.01 Mil.
Total Assets was $12.65 Mil.
Property, Plant and Equipment(Net PPE) was $0.18 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $6.12 Mil.
Total Current Liabilities was $2.47 Mil.
Long-Term Debt & Capital Lease Obligation was $0.06 Mil.
Net Income was -3.527 + -2.971 + -3.596 + -3.393 = $-13.49 Mil.
Non Operating Income was 0.147 + 0.324 + -0.172 + 0.219 = $0.52 Mil.
Cash Flow from Operations was -3.18 + -2.746 + -2.662 + -2.199 = $-10.79 Mil.

Total Receivables was $0.33 Mil.
Revenue was 0.25 + 0 + 0 + 0 = $0.25 Mil.
Gross Profit was 0.25 + 0 + 0 + 0 = $0.25 Mil.
Total Current Assets was $14.31 Mil.
Total Assets was $15.26 Mil.
Property, Plant and Equipment(Net PPE) was $0.28 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $7.37 Mil.
Total Current Liabilities was $1.32 Mil.
Long-Term Debt & Capital Lease Obligation was $0.18 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)
	=	(0.153 / 0)	/	(0.328 / 0.25)
	=		/	1.312
	=

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)
	=	(0.25 / 0.25)	/	(0 / 0)
	=	1	/
	=

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 - (12.013 + 0.175) / 12.652)	/	(1 - (14.309 + 0.284) / 15.262)
	=	0.036674	/	0.043834
	=

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	/	0.25
	=

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))
	=	(0.001 / (0.001 + 0.284))	/	(0.004 / (0.004 + 0.175))
	=	0.003509	/	0.022346
	=

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)
	=	(6.123 / 0)	/	(7.373 / 0.25)
	=		/	29.492
	=

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)
	=	((0.058 + 2.467) / 12.652)	/	((0.182 + 1.315) / 15.262)
	=	0.199573	/	0.098087
	=

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
	=	(-13.487 - 0.518	-	-10.787)	/	12.652
	=	-0.254347

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.

Palisade Bio Beneish M-Score Related Terms

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Palisade Bio (Palisade Bio) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Palisade Bio Inc (NAS:PALI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

7NS:Germany

Address

5800 Armada Drive, Suite 2A, Carlsbad, CA, USA, 92008

Website

https://www.palisadebio.com

Palisade Bio Inc is a clinical-stage biopharma company. It is advancing oral therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. Palisade Bio's innovative lead asset, LB1148, is a Phase 3-ready protease inhibitor with the potential to both reduce abdominal adhesions and help restore bowel function following surgery.

Executives

Donald Allen Williams	director	C/O PRYOR CASHMAN LLP, 7 TIMES SQUARE, NEW YORK NY 10036
John David Finley	officer: Chief Financial Officer	C/O SENECA BIOPHARMA, INC., 20271 GOLDENROD LANE, GERMANTOWN MD 20876
Robert J. Trenschel	director	C/O SENECA BIOPHARMA, INC., 20271 GOLDENROD LANE, GERMANTOWN MD 20876
Mitchell Lawrence Jones	officer: Chief Medical Officer	70 GALLOUPES POINT ROAD, SWAMPSCOTT MA 01907
Robert Curtis Mcrae	officer: Chief Operating Officer	675 S. SIERRA AVE,, UNIT 23, SOLANA BEACH CA 92075
Thomas Hallam	director, officer: Chief Executive Officer	C/O SENECA BIOPHARMA, INC., 20271 GOLDENROD LANE, GERMANTOWN MD 20876
Michael John Dawson	officer: Chief Medical Officer	C/O SENECA BIOPHARMA, INC., 20271 GOLDENROD LANE, GERMANTOWN MD 20876
Yuma Regional Medical Center	10 percent owner	2400 S AVENUE A, YUMA AZ 85364
Stephanie Diaz	director	C/O SENECA BIOPHARMA, INC., 20271 GOLDENROD LANE, GERMANTOWN MD 20876
James R Neal	director	2910 SEVENTH STREET, BERKELEY CA 94710
Mary Ann Gray	director	201 W 70TH ST, SUITE 23K, NEW YORK NY 10023
David J Mazzo	director	110 ALLEN ROAD, 2ND FLOOR, BASKING RIDGE NJ 07920
Binxian Wei	director	P.O. BOX 2231, LIVINGSTON NJ 07039
Kenneth C Carter	director, officer: Executive Chairman	20358 SENECA MEADOWS PARKWAY, GERMANTOWN MD 20876
Cristina Csimma	director	14 CAMBRIDGE CENTER, BLDG 1, CAMBRIDGE MA 02142