GTBP
GT Biopharma, Inc.
Next earnings Aug 12, 2026 · consensus $-0.08 EPS
Last earnings +26.2% on 2025-11-14
$0.47
▲ +7.23%$0.47▼ -86.67%
over 1Y
L $0.27H $3.58
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+7.2%
1W+13.4%
1M+1.0%
3M+4.8%
YTD-42.3%
1Y-86.7%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 7 analysts
Buy
Zero-revenue clinical biotech with going-concern doubt, negative equity, and 13x share dilution — uninvestable, not cheap.
Net income -$28.4M · FY2025
GT Biopharma is a pre-revenue clinical-stage immuno-oncology shop whose entire value rests on an unproven TriKE natural-killer-cell platform. Management concedes in the 10-K that it has 'no immuno-oncology products in late-stage clinical trials' and is 'still in the early stages of identifying and conducting research' — meaning commercialization is 'years, if at all' away. There is no product revenue in the data for any year back to FY2020, only an accumulated deficit of -$726M. This is a binary science bet, not a business you can value on fundamentals.
The balance sheet is in outright distress. Stockholders' equity is -$25.9M (down 1,449% YoY) against $31.0M of liabilities and only $7.12M of assets — a negative -1.20x liabilities/equity. The company's own auditor issued a going-concern qualification: $6.9M of cash (incl. restricted) against a -$12.9M annual operating burn means existing resources 'will not be sufficient' to fund operations for even one year without new capital. Liabilities exploded +368% YoY, and the FY2025 net loss widened to -$28.4M from -$13.2M in FY2024 (-115% YoY), reversing the improving trend seen in FY2022–FY2023.
Is GTBP a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~90d expiry
- Long put 0.5 @ ~0.12 est
- Short put 0.5 @ ~0.12 est
debit $0max +$0max $0
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | -$57.5M | -$21.3M | -$13.6M | -$14.4M | -$12.4M |
| Net income | -$58.0M | -$20.9M | -$7.60M | -$13.2M | -$28.4M |
| Diluted EPS | — | -$19.66 | -$5.64 | -$6.94 | -$6.68 |
| Net margin | — | — | — | — | — |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$10.2M
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-166.6%
FCF yield-75.9%
Quality & risk
ROIC (est.)—
Free cash flow-$12.9M
Total debt—
Net cash$6.81M
Altman Z-Score-147.17 distress
Piotroski F-Score2/7
Capital returns
Buyback yield—
Dividend yield (est.)1.3%
Shareholder yield1.3%
Shares Δ YoY+1312.2%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- DEF 14A Proxy statement2026-07-02
Annual-meeting proxy — likely seeking share-authorization/reverse-split approval
- 8-K Charter / bylaws change2026-06-12
Charter amendment (Item 5.03) — likely reverse split/authorized-share change to enable financing
- 8-K Delisting notice2026-05-22
Nasdaq continued-listing deficiency notice (Item 3.01) — delisting risk
- 10-Q Quarterly report2026-05-15
Q1 2026 10-Q — going-concern doubt persists, negative equity, ongoing cash burn
- S-1 Securities registration2026-04-30
New S-1 registers shares for offering/resale — pending shareholder dilution
- 8-K Material agreement2026-04-07
Entered material agreement (Item 1.01) — likely dilutive financing to fund cash burn
- 10-Q/A Restated periodic report2026-03-06
Second amended quarterly restating prior financials — restatement cleanup
- 10-Q/A Restated periodic report2026-03-06
Second amended quarterly restating prior financials — restatement cleanup
- 8-K Restatement (non-reliance)2026-03-02
FY25 10-K: -$28.4M loss, -$25.9M equity, going-concern doubt from auditor
Recent filings
all on EDGAR ↗DEF 14APeriod ending 2026-07-022026-07-02open ↗PRE 14APeriod ending 2026-06-182026-06-18open ↗8-KPeriod ending 2026-06-082026-06-12open ↗8-KPeriod ending 2026-05-202026-05-22open ↗10-QPeriod ending 2026-03-312026-05-15open ↗EFFECTFiling2026-05-13open ↗424B3Filing2026-05-13open ↗S-1Filing2026-04-30open ↗8-KPeriod ending 2026-04-032026-04-07open ↗10-Q/APeriod ending 2025-06-302026-03-06open ↗10-Q/APeriod ending 2025-09-302026-03-06open ↗10-KPeriod ending 2025-12-312026-03-02open ↗
Frequently asked
- Is GT Biopharma, Inc. (GTBP) a buy?
- GTBP currently carries a Avoid rating with 5/5 conviction, derived from its latest SEC filings. Zero-revenue clinical biotech with going-concern doubt, negative equity, and 13x share dilution — uninvestable, not cheap.
- What is GT Biopharma, Inc.'s quality score?
- GTBP scores 23.13397193850388/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000109657, latest 10-Q filed 2026-05-15) · EODHD · Proprietary analysis · as of 7/4/2026, 5:05:09 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 4, 2026, 1:05 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.