PureTech Health plc
PTCHF, PRTC, PRTCY · Pharmaceutical Preparations · EDGAR filings ↗
Grade
B71Cash-rich clinical-stage biotech holding company with above-average liquidity and positive headline returns, but operating losses and binary pipeline risk cap the grade.
Strengths
- Strong balance sheet: cash/investments $281M (74th pct), current ratio 9.3 (79th pct), ~8.4 quarters runway
- Positive net margin (98th pct) and returns (ROA 88.7th, ROE 74.9th pct) thanks to Founded-Entity fair-value gains; no going concern
Risks
- Operating margin -28% and FCF -$134M (12th-15th pct) reflect a still-unprofitable wholly-owned pipeline
- Value depends on dilutable/uncontrolled Founded Entities and binary preclinical/clinical outcomes for LYT-100/LYT-200
Notable findings
- No interest coverageInterest coverage -78.62 (cannot cover interest)
- Cash burnNegative free cash flow (-134.4M)
- Strong balance sheetStrong balance sheet — $281M cash & investments, ~8 quarters of runway
Key metrics
Operating margin
-2818.9%
Net margin
575.4%
Return on equity
6.8%
Return on assets
4.6%
Revenue growth (QoQ)
45.0%
Interest coverage
-78.6×
Current ratio
9.3×
Free cash flow
-$134M
Tangible book value
$408M
Cash & investments
$281M
Cash runway
8q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001628280-26-028200 ↗ |
| 20-F | 2025-04-30 | 2024-12-31 | 0001782999-25-000005 ↗ |
| 20-F | 2024-04-25 | 2023-12-31 | 0001628280-24-017913 ↗ |
| 20-F | 2023-04-28 | 2022-12-31 | 0001782999-23-000004 ↗ |
| 20-F | 2022-04-26 | 2021-12-31 | 0001782999-22-000004 ↗ |
| 20-F | 2021-04-15 | 2020-12-31 | 0001628280-21-006938 ↗ |