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what it is
Capricor develops cell and exosome therapies for Duchenne muscular dystrophy and other rare diseases.
how it gets paid
Last year Capricor Therap made $22M in revenue. Deramiocel development collaboration was the main engine at $10M, or 46% of sales.
what just happened
Capricor posted $11M in revenue, while EPS came in at -$1.64 for the latest quarter.
At a glance
B balance sheet — gets the job done, barely
35/100 earnings predictability — expect surprises
-$1.15 fy2024 eps est
$22M fy2024 rev est
n/a operating margin
xvary composite: 47/100 — below average
What they do
Capricor develops cell and exosome therapies for Duchenne muscular dystrophy and other rare diseases.
Deramiocel is a cell therapy, meaning living cells are the medicine. That is harder to copy than a pill. You are buying a shot at a rare disease market where 160 employees are trying to turn one program into a drug.
How they make money
$22M
annual revenue
Deramiocel development collaboration
$10M
+393.0%
Grant revenue
$5M
+25.0%
License and milestone revenue
$4M
10.0%
Other service revenue
$3M
+5.0%
The products that matter
lead cell therapy candidate
Deramiocel (CAP-1002)
aug 22, 2026 · fda decision date
this is the asset behind essentially the entire roughly $2B equity story, with an FDA decision date set for August 22, 2026.
binary catalyst
exosome platform technology
Exosome Platform
$0 revenue · pipeline optionality
the platform may support future pipeline value, but right now it contributes $0 in revenue and does not carry the stock on its own.
future, not current
Key numbers
$30.04
share price
You are paying about $30 for a company with $22M in annual revenue. That is the entire valuation argument in one number.
$22M
annual revenue
Revenue is tiny next to a roughly $2B market cap. The stock needs clinical wins, not spreadsheet heroics.
-191.1%
operating margin
The business lost almost twice its revenue in operating profit terms. That is a science project with a ticker.
1.05
beta
The stock moves about like the market. The difference is the business model is far less stable than the index.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $14M (1% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CAPR right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Capricor posted $11M in revenue, while EPS came in at -$1.64 for the latest quarter.
Revenue was up 393% vs. prior year, but the company still lost money. That is the biotech trade: the top line improves while the bottom line stays ugly.
$11.0M
revenue
-$1.64
eps
+393.0%
revenue Vs. last year
the number that mattered
The $11M revenue print mattered most because it showed the business has sales, even while the $1.64 loss per share says the model is still not self-funding.
source: company earnings report, 2026
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What could go wrong
The #1 risk here is an unfavorable FDA outcome for Deramiocel. This company is small enough, unprofitable enough, and concentrated enough that one decision can redraw the entire equity story.
med
single-asset dependence
Deramiocel is the lead asset and the reason a roughly $2B market cap exists against just $22M in annual revenue. If approval fails, the current valuation loses its center of gravity.
Impact: the investment thesis breaks because there is no second commercial engine to step in.
med
cash burn and dilution
A $50.3M net loss in the first half of 2025 and $0 product revenue in the latest quarter mean external funding still matters. Biotech financing is rarely gentle when the market knows you need it.
Impact: more capital could mean a lower ownership stake for you before any approval upside shows up.
med
regulatory evidence risk
The company already operates under intense FDA scrutiny because efficacy evidence is the whole argument. In a pre-commercial biotech, the scientific file is the product until approval happens.
Impact: even a delay can pressure the stock because time is expensive when losses are already running this high.
med
no commercial base
Collaboration revenue accounted for 100% of the $22M top line. There is no diversified revenue stream, no installed customer base, and no profitable segment absorbing shocks.
Impact: every setback lands directly on sentiment, financing needs, and valuation at the same time.
A forced rethink on Deramiocel would hit a company with $22M in annual revenue, $50.3M in first-half losses, and no commercial fallback.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
FDA decision date
August 22, 2026 is the date that matters most. Approval changes the narrative. A delay or rejection resets it.
financing
cash burn versus capital needs
A $50.3M net loss in the first half of 2025 means every quarter before the FDA decision also doubles as a financing update.
business quality
whether revenue stays purely collaborative
All $22M of annual revenue came from collaboration activity. Until that mix changes, this remains a development story, not a commercial one.
volatility
price action around trial and regulatory updates
A 52-week range of $4–$40 tells you sentiment can reprice fast. This is a stock where headlines can matter more than models.
Analyst rankings
earnings predictability
35 / 100
Low predictability means the reported numbers can swing around collaboration timing and development expense. In human-speak, analysts do not have a clean operating model to lean on.
beta
1.05
Beta measures how much a stock tends to move with the market. At 1.05, CAPR looks market-like on paper, but FDA risk makes that number less comforting than it sounds.
source: institutional data
Institutional activity
institutional ownership data for CAPR is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$30
current price
n/a
target midpoint · n/a from current
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