Breaking Down Statera Biopharma, Inc. (STAB) Financial Health: Key Insights for Investors

If you're looking at Statera Biopharma, Inc. (STAB), you need to defintely look past the ticker and straight into the fundamentals, because the financial picture is highly distressed. The company's latest trailing twelve-month (TTM) figures, which capture the financial reality leading up to their August 14, 2025, earnings report, show a massive disconnect: they brought in only $3.69 million in revenue but posted a staggering net loss of -$91.83 million. That's a burn rate you can't ignore. Plus, the balance sheet tells a story of near-term liquidity crisis, with a current ratio-your quick measure of ability to cover short-term debts-at a razor-thin 0.05, and cash on hand sitting at just $506,098. Honestly, this isn't a turnaround story yet; it's a capital preservation warning.

Revenue Analysis

You need to know where the money is coming from, especially with a volatile biotech like Statera Biopharma, Inc. (STAB). The direct takeaway is this: Statera Biopharma's revenue base is small and highly dependent on non-recurring licensing and collaboration payments, not product sales. This makes their revenue incredibly lumpy and unpredictable.

Looking at the latest available data, the company's trailing twelve-month (TTM) revenue stood at approximately $3.69 million. This is not a number derived from a steady stream of product sales, but primarily from strategic agreements. To be fair, this TTM figure shows a massive long-term increase of over 1,459% compared to the $1.49 million annual revenue reported in 2021, but that massive jump simply highlights the extreme volatility of their revenue model.

The near-term trend is actually a contraction. The TTM revenue decreased by approximately 13.34%, which is a clear sign of the challenge in consistently replacing those one-off collaboration payments. This is why you must treat their revenue as high-risk, non-core income until a product hits the market. Here's the quick math on the latest TTM revenue breakdown:

The primary revenue streams for Statera Biopharma, Inc. are not from commercialized drugs but from their intellectual property (IP)-specifically, licensing agreements and milestone payments (a payment made when a drug candidate hits a specific development goal, like entering Phase 3 trials). This structure means a single deal can make or break a quarter's or even a year's numbers.

A significant change in their revenue structure was the deal where Tivic Health acquired exclusive worldwide rights to Entolimod, which is a Phase III TLR5 Agonist. This transaction is a perfect example of how they generate their top-line revenue. It's a one-time cash infusion, or a series of payments tied to development milestones, not a recurring sales line. This is the core risk: you can't model a reliable revenue stream without a commercial product.

• Revenue is mostly non-recurring licensing fees.
• No consistent revenue from product sales.
• Volatility is the main revenue characteristic.
• A single deal can skew annual performance.

You can dig deeper into the players behind these decisions by Exploring Statera Biopharma, Inc. (STAB) Investor Profile: Who's Buying and Why?

Profitability Metrics

You need to know the cold, hard numbers on Statera Biopharma, Inc. (STAB) to make a smart investment call. Simply put, the company is not profitable and is currently demonstrating significant losses as it focuses heavily on research and development (R&D) and managing non-operating costs. This is typical for a clinical-stage biopharma, but the scale of the loss is crucial.

Looking at the most recent Trailing Twelve Months (TTM) data, the figures paint a clear picture of a company investing heavily in its future pipeline, but still far from commercial-stage profitability. Here's the quick math on the key margins:

• Gross Profit Margin: The TTM Gross Profit was $2.59 million on revenue of $3.69 million, giving a strong Gross Profit Margin of approximately 70.19%. This shows their product sales, when they occur, are highly lucrative.
• Operating Profit Margin: Operating Income was -$21.14 million, resulting in a deeply negative Operating Profit Margin of about -572.90%. This is where R&D and administrative costs hit hard.
• Net Profit Margin: The TTM Net Income was a loss of -$91.83 million, which translates to a stark Net Profit Margin of roughly -2488.62%. This loss includes significant non-operating and unusual items.

This is a high-wire act. The gross margin is excellent, but the operating and net margins show the company is burning cash fast to fund operations and development.

Profitability Trends and Industry Context

The trend in profitability for Statera Biopharma, Inc. is volatile, which is common for a clinical-stage biotech. The Gross Profit Margin peaked in December 2021 at 67.2%, and the current TTM figure of 70.19% is actually an improvement, suggesting that their core cost of goods sold (COGS) management remains strong. Still, the overall profitability trend is defined by the substantial and growing net losses, driven by high operating expenses.

To be fair, the biopharmaceutical sector is unique. When you compare Statera Biopharma, Inc.'s profitability ratios with the broader Healthcare Sector, you see a difference. The average Gross Profit Margin for the Healthcare Sector is around -27.2%, which is surprisingly low and often skewed by other sub-sectors. Statera Biopharma, Inc.'s 70.19% gross margin is actually quite favorable against this backdrop, but that positive figure is immediately overwhelmed by the high R&D and Selling, General & Administrative (SG&A) costs necessary to push their drug candidates through clinical trials.

Operational Efficiency and Cost Management

The real story here is operational efficiency, or the lack thereof, which is typical for a company with a small revenue base and large development costs. The massive gap between the 70.19% Gross Profit Margin and the -572.90% Operating Profit Margin tells you that the company's operational spending is currently over five times its revenue.

Here's a breakdown of the cost structure in millions of USD for the TTM period:

The TTM Operating Expenses of $23.73 million are the primary driver of the operating loss. For a company to achieve operating breakeven without cutting its R&D-which would stop its core business-it would need to increase revenue by roughly $21.14 million, assuming all other costs remain fixed. Operational efficiency metrics like Return on Equity (ROE) at -286.94% and Return on Invested Capital (ROIC) at -29.90% confirm that the company is currently destroying shareholder value, a critical risk you defintely need to factor in. You can learn more about the company's long-term goals here: Mission Statement, Vision, & Core Values of Statera Biopharma, Inc. (STAB).

Debt vs. Equity Structure

You need to know how Statera Biopharma, Inc. (STAB) pays for its operations, and honestly, the picture is tough. The company's financing structure is heavily skewed, reflecting its deep financial distress in the 2025 fiscal year. The core issue is a negative shareholder equity, meaning the company's liabilities exceed its assets.

As of its most recent trailing twelve months (TTM) data, Statera Biopharma, Inc. carried a total debt load of approximately $7.41 million. This figure includes both short-term obligations and any long-term debt. Here's the quick math: when we look at the Debt-to-Equity (D/E) ratio-a key measure of financial leverage-the number is an alarming -10.37. Anything negative is a serious red flag.

What this ratio tells you is that Statera Biopharma, Inc. has a negative book value, or a deficit in shareholder equity of roughly $-0.714 million, which is a sign of insolvency. For context, the average D/E ratio for the Biotechnology industry is a low 0.17, because early-stage biotech firms typically fund their risky, long-cycle R&D through equity, not debt. Statera Biopharma, Inc. is far outside that norm.

The company's reliance on debt is a major risk, especially when coupled with its inability to generate consistent revenue. The market has reacted to this instability, as evidenced by the Nasdaq delisting notice received in January 2025 and an involuntary petition filed against the company in August 2025. These are clear signals that the capital structure is unsustainable.

In terms of recent activity, the company has attempted to balance its books through equity funding, but this has been more survival-oriented than growth-focused. They completed a follow-on equity offering of $2 million to raise capital and also received $1.2 million in equity as part of a licensing agreement with Tivic Health in February 2025. This highlights a critical balance: the company has been forced to dilute shareholder value to keep the lights on and manage its debt obligations.

The key takeaway is that Statera Biopharma, Inc.'s capital structure is overwhelmingly debt-dependent and structurally impaired by negative equity. It defintely needs a massive infusion of non-dilutive capital or a strategic pivot to fix this. You can read more about their strategic direction here: Mission Statement, Vision, & Core Values of Statera Biopharma, Inc. (STAB).

• Total TTM Debt: $7.41 million
• Debt-to-Equity Ratio: -10.37
• Industry Average D/E: 0.17

Here's a snapshot of the capital structure's risk profile:

Liquidity and Solvency

You need to know if Statera Biopharma, Inc. (STAB) can cover its near-term obligations, and the answer is a clear no based on the latest trailing twelve months (TTM) data. The company's liquidity position is defintely precarious, pointing to a high reliance on external financing to simply keep the lights on.

A quick look at the core liquidity ratios tells the story. The current ratio, which compares current assets to current liabilities, stands at a critically low 0.05. A healthy company should be at 1.0 or higher. The quick ratio, which strips out less-liquid assets like inventory, is even lower at 0.04. This means for every dollar of short-term debt, Statera Biopharma, Inc. has only about $0.05 in assets that can be converted to cash within a year to pay it back. That's a massive shortfall.

Here's the quick math on the working capital (Current Assets minus Current Liabilities), which is the lifeblood of day-to-day operations:

• Total Current Assets: approximately $1.22 million
• Total Current Liabilities: approximately $22.23 million
• Working Capital: -$21.01 million

A negative working capital of $21.01 million signals a structural mismatch. The company is using short-term funds to finance long-term needs or, more likely for a clinical-stage biopharma, simply burning through cash faster than it can be generated or raised. This trend is a flashing red light for any investor. You can find a deeper dive into the valuation models at Breaking Down Statera Biopharma, Inc. (STAB) Financial Health: Key Insights for Investors.

Cash Flow: The Burn Rate Reality

The cash flow statement confirms the severe liquidity strain. For the last 12 months, the company's core operations are draining cash at a substantial rate. This is common for clinical-stage biopharma firms, but the magnitude is what matters.

The cash flow breakdown for the TTM period is stark:

The -$12.09 million in Operating Cash Flow is the true burn rate. With only about $506,098 in cash and cash equivalents, the company has less than a month of runway before the cash runs out, assuming a constant burn rate of roughly $1 million per month ($12.09 million / 12 months). This is a critical liquidity concern.

The Liquidity Outlook and Action

The primary strength of Statera Biopharma, Inc. is its ability to raise capital (Financing Cash Flow), but the current financial health suggests this well is running dry or becoming prohibitively expensive. The near-term risk is high: without a significant capital injection-either through a new debt issuance, a massive equity raise, or an asset sale-the company faces a real solvency crisis. The negative working capital and the sub-0.1 liquidity ratios mean the company cannot meet its obligations as they come due. This isn't a minor hurdle; it's a fundamental threat to the company's existence.

Action: Demand a clear, 12-month cash-flow forecast from management, detailing the amount and source of the next capital raise, before committing any new capital.

Valuation Analysis

You want to know if Statera Biopharma, Inc. (STAB) is overvalued or undervalued. Given its financial state in late 2025, the standard valuation metrics are largely distorted by significant losses, which points to a stock whose value is driven by speculation and extreme risk, not fundamentals.

The company's valuation profile is that of a highly distressed clinical-stage biopharma firm. The market capitalization is tiny, hovering around $7.14K to $14,517 as of November 2025. When a company's stock trades this low, the risk is existential. This is defintely not a value play.

Here is a quick look at the core valuation ratios based on trailing twelve months (TTM) data:

• Price-to-Earnings (P/E): The P/E ratio is effectively meaningless, listed as a negative number near -0.46. Why? Because the company has negative earnings per share (EPS) of approximately -$1.91 to -$2.61. A negative P/E ratio simply means the company is losing money.
• Price-to-Book (P/B): This ratio is also negative, near -0.00, because the company's liabilities exceed its assets, resulting in a negative book value (shareholders' equity). This indicates a deeply troubled balance sheet.
• Enterprise Value-to-EBITDA (EV/EBITDA): This metric is sometimes cited around 0.37. This low number suggests the Enterprise Value is minimal compared to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). But still, with TTM Operating Income at -$21.14M, the positive EV/EBITDA is a technical anomaly, not a sign of cheapness.

The stock price trend over the last 12 months tells a clear story of decline and volatility. The 52-week high for Statera Biopharma, Inc. was around $0.1251, but by November 2025, the price had collapsed to approximately $0.0001 per share. That's a massive drop, and the stock is now trading in a 'very wide and falling trend'. The price action reflects the market's assessment of its poor financial health, which you can read more about in Breaking Down Statera Biopharma, Inc. (STAB) Financial Health: Key Insights for Investors.

To be fair, the biotech sector often runs on hope, but Statera Biopharma, Inc. is not a dividend stock. The company has a 0.00% dividend yield and pays no dividend, which is standard for a clinical-stage company focused on burning cash for R&D. So, don't look for any income here.

Analyst coverage is sparse for Statera Biopharma, Inc., which is common for micro-cap stocks trading this low. However, the prevailing sentiment is decidedly negative. One recent analysis gives the stock a 'Sell Candidate' evaluation with a score of -3.718. The lack of strong analyst forecast for future growth simply confirms that the financial picture is too murky and the risk too high for most institutional players to even bother modeling. You should treat this stock as a highly speculative bet on a major, unexpected clinical or business development.

Risk Factors

You need to know the cold, hard truth: Statera Biopharma, Inc. (STAB) is facing an existential financial crisis, and your investment thesis must account for the extreme liquidity and operational risks. The near-term outlook is dominated by its inability to generate meaningful revenue and its reliance on high-risk strategic maneuvers to survive.

Honestly, the numbers speak for themselves. The company's financial health is precarious, a situation typical of clinical-stage biopharma firms but amplified here. Here's the quick math on the core financial risks based on the latest available data.

Internal Financial and Liquidity Risks

The most immediate and critical risk is the company's severe liquidity crunch, which raises a significant going concern (doubt about the company's ability to continue operating) issue. As of the last 12 months, Statera Biopharma, Inc. reported a staggering loss of approximately $91.83 million on revenue of just $3.69 million.

This massive cash burn is reflected in the balance sheet. The company holds only about $506,098 in cash against total debt of $7.41 million, resulting in a net cash deficit of around $6.90 million. Plus, the Current Ratio (current assets divided by current liabilities), a key measure of short-term solvency, stands at an alarming 0.05. A ratio this low suggests the company cannot cover its short-term obligations without immediate and drastic action. One clean one-liner: This is a textbook definition of a liquidity crisis.

• Liquidity: Current Ratio is only 0.05.
• Solvency: Altman Z-Score of -21.97 suggests high bankruptcy risk.
• Performance: Return on Equity (ROE) is deeply negative at -286.94%.

External and Operational Headwinds

Outside the balance sheet, Statera Biopharma, Inc. faces the dual challenge of intense industry competition and the inherent operational risk of a clinical-stage business. The biopharma industry is a brutally competitive landscape. To be fair, Statera Biopharma, Inc.'s LTM revenue of $3.69 million is dwarfed by its competitors, whose average gross revenue is approximately $439.22 million. That's a huge competitive gap.

The company's focus on novel immunotherapies means its success hinges entirely on clinical trial outcomes and regulatory approval from the Food and Drug Administration (FDA). Any delay in a trial, a negative result, or a change in regulatory guidance can wipe out years of investment, which is a constant, high-stakes pressure point for any investor. The stock's price of $0.0001 as of November 20, 2025, reflects the market's bearish sentiment and the high level of risk already priced in.

Mitigation Strategies and Strategic Actions

Management is defintely aware of these risks and has pursued strategic actions to stay afloat, essentially pivoting the business model to secure capital and stability. The most significant move is the non-binding letter of intent to merge with Worksite Labs, Inc., a diagnostic services company that generated over $50 million in revenues in 2022. This merger is a clear attempt to inject a revenue-generating asset into the company and address the going concern issue.

Also, in February 2025, Statera Biopharma, Inc. divested a key asset, Entolimod™ (a late-stage TLR5 agonist), by licensing it exclusively to Tivic Health Systems. This move, while sacrificing future upside from that asset, likely provided an immediate financial boost or reduced future development costs. The goal here is to stabilize the financial foundation through a combination of asset sales and a transformative merger, but both strategies are contingent on successful execution and regulatory approvals, which are not guaranteed. For a deeper dive into the company's financial history and valuation, check out Breaking Down Statera Biopharma, Inc. (STAB) Financial Health: Key Insights for Investors.

Growth Opportunities

Statera Biopharma, Inc.'s (STAB) immediate growth hinges entirely on the successful completion and integration of its proposed merger with Worksite Labs, Inc., as the core biopharma pipeline is still pre-revenue. You need to look past the clinical-stage revenue of $0.00 for 2025 and focus on the diagnostic business that could anchor the combined entity's near-term financials.

Honestly, without a commercial product, there are no consensus analyst revenue or earnings per share (EPS) estimates for Statera Biopharma itself. But, the company's strategic move to merge with Worksite Labs, Inc. (WSL), a decentralized diagnostic testing company, changes the entire financial picture. WSL generated unaudited revenues of over $50 million in 2022, and that is the real near-term revenue driver for the combined business. This is a classic move to gain capital markets access and accelerate an acquisition strategy.

Here's the quick math: You are effectively investing in a clinical pipeline being funded, in part, by a diagnostic testing business with a proven revenue stream. What this estimate hides is the risk that the merger, announced via a non-binding Letter of Intent in March 2023, might not close as defintely planned.

Core Product Innovations and Pipeline

The long-term growth opportunity still rests on Statera Biopharma's proprietary platform, which is designed to rebalance the body's immune system and restore homeostasis (a stable internal environment). This platform is the foundation for its novel immunotherapies targeting complex diseases.

• STAT-201: Clinical program for Crohn's disease.
• Entolimod: A TLR5 agonist with an FDA clinical hold lifted, targeting hematology.
• STAT-205: In clinical development for Cancer T-cell exhaustion and COVID-19.

The key growth driver here is the broad application of their Toll-like Receptor (TLR) agonists-a class of proteins that play a crucial role in the innate immune system-which gives them one of the largest TLR platforms in the biopharmaceutical industry.

Strategic Partnerships and Market Expansion

Beyond the Worksite Labs, Inc. merger, Statera Biopharma has pursued other strategic initiatives that could produce revenue faster than a typical drug development cycle. This is smart risk mitigation.

For example, the company announced an intent to partner with Lay Sciences Inc. to license manufacturing rights for certain IgY products (avian antibodies) for respiratory and gastrointestinal disorders. The goal was to produce near-term revenue by supplying products for existing approved markets. This kind of licensing deal provides a potential cash flow bridge while the core pipeline progresses through costly clinical trials.

Competitive Advantages and Risk Profile

In the highly volatile biopharma space, Statera Biopharma offers a unique risk profile. Their competitive advantage isn't just their science; it's their market behavior.

The company has a very low beta-a measure of volatility relative to the market-of just 0.33, suggesting its share price is 67% less volatile than the S&P 500. Compare this to its rivals, whose average beta is a staggering 10.21. That low volatility is a notable financial characteristic for a clinical-stage company, though it doesn't guarantee a return.

The table below shows the stark contrast in financial metrics for the company compared to its competitors, highlighting the pre-revenue status and the reliance on pipeline success.

For a deeper dive into the standalone financial health before considering the merger's impact, you can check out our full analysis: Breaking Down Statera Biopharma, Inc. (STAB) Financial Health: Key Insights for Investors.