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Sernova Biotherapeutics Inc operates as a clinical-stage biotechnology company in Canada. The company develops regenerative medicine therapeutics comprising proprietary Cell Pouch, a bio-hybrid organ system to replicate natural body functions. Its Cell Pouch creates vascularized organs for the longevity and functionality of therapeutic cells and ensures containment for retrievability. Sernova Biotherapeutics Inc was formerly known as Sernova Corp. and changed its name to Sernova Biotherapeutics Inc in February 2025. Sernova Biotherapeutics Inc is based in Mississauga, Canada.
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Sernova Corporation is a clinical-stage medical technology company developing an implantable Cell Pouch to host therapeutic cells for long-term hormone delivery, targeting insulin-dependent diabetes and other endocrine conditions. Long-term growth may be supported by successful clinical trial outcomes, regulatory approvals and partnerships or licensing that expand use of its platform. Investors may find the company attractive because the approach appears positioned to address a persistent unmet need for durable, cell-based hormone replacement.
Material risks include high clinical and regulatory uncertainty for novel cell therapies, manufacturing and scale-up challenges, limited revenue history and frequent need for external capital that could dilute shareholders.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
| Income before tax | -15.84M | -32.19M | -39.63M | -24.42M | -6.97M |
| Net income | -15.74M | -32.19M | -39.00M | -24.54M | -7.01M |
| Selling general administrative | 7.50M | 8.97M | 8.46M | 7.83M | 2.29M |
| Selling and marketing expenses | - | - | 8.42M | - | - |
| Gross profit | -0.34M | - | -0.45M | - | - |
| Reconciled depreciation | 0.34M | 0.54M | 0.45M | 0.44M | 0.27M |
| Ebit | -15.08M | -31.66M | -40.50M | -24.18M | -6.87M |
| Ebitda | -14.74M | -31.25M | -40.19M | -23.74M | -6.60M |
| Depreciation and amortization | 0.34M | 0.41M | 0.31M | 0.44M | 0.27M |
| Operating income | -15.12M | -31.84M | -41.13M | -24.18M | -6.87M |
| Other operating expenses | 15.12M | 31.84M | 41.13M | 24.75M | 6.94M |
| Interest expense | 0.75M | 0.59M | 0.03M | 0.12M | 0.06M |
| Tax provision | 0.01M | 0.01M | 0.00M | - | - |
| Interest income | 0.03M | 0.54M | 1.50M | 0.33M | 0.02M |
| Net interest income | -0.73M | -0.20M | 1.47M | 0.46M | 0.01M |
| Income tax expense | -0.09M | 0.01M | -0.63M | 0.12M | 0.04M |
| Total revenue | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Total operating expenses | 14.78M | 31.84M | 41.13M | 24.75M | 6.94M |
| Cost of revenue | 0.34M | - | 0.45M | - | - |
| Total other income expense net | -0.71M | -0.35M | 1.50M | -0.24M | -0.10M |
| Net income from continuing ops | -15.74M | -32.19M | -39.00M | -24.42M | -6.97M |
| Net income applicable to common shares | -15.74M | -32.19M | -39.00M | -24.42M | -6.97M |
| Breakdown | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
| Total assets | 0.76M | 7.53M | 22.11M | 52.48M | 29.82M |
| Intangible assets | - | - | 0.00M | 0.52M | 0.72M |
| Other current assets | 0.14M | 0.16M | 0.16M | 0.17M | - |
| Total liab | 25.84M | 20.48M | 9.59M | 4.88M | 1.75M |
| Total stockholder equity | -25.08M | -12.96M | 12.51M | 47.61M | 28.07M |
| Other current liab | 8.56M | - | 2.61M | 0.99M | 0.98M |
| Common stock | 118.70M | - | 110.99M | 110.99M | 74.01M |
| Capital stock | 118.70M | 116.68M | 110.99M | 110.99M | 74.01M |
| Retained earnings | -166.10M | -150.36M | -118.17M | -79.17M | -54.75M |
| Good will | - | - | 0.32M | - | - |
| Other assets | 0.22M | - | 0.00M | 0.22M | 0.21M |
| Cash | 0.27M | 6.01M | 8.72M | 3.78M | 27.87M |
| Total current liabilities | 24.80M | 20.02M | 9.59M | 4.74M | 1.48M |
| Net debt | 17.02M | - | -8.59M | -3.50M | -27.48M |
| Short term debt | 16.24M | - | 0.14M | 0.14M | 0.12M |
| Short long term debt total | 17.28M | - | 0.14M | 0.28M | 0.39M |
| Other stockholder equity | 21.79M | - | 19.69M | 15.79M | 8.81M |
| Property plant equipment | 0.02M | - | - | 0.65M | 0.56M |
| Total current assets | 0.52M | 6.47M | 21.02M | 51.09M | 28.33M |
| Net tangible assets | - | - | - | 47.09M | 27.35M |
| Short term investments | - | 0.00M | 11.08M | 46.00M | - |
| Net receivables | 0.12M | - | 1.05M | 1.15M | 0.45M |
| Long term debt | 1.04M | - | - | - | 0.00M |
| Accounts payable | 5.16M | 17.24M | 6.85M | 3.61M | 0.38M |
| Accumulated other comprehensive income | 0.54M | - | - | - | - |
| Non currrent assets other | 0.22M | - | 0.26M | 0.22M | 0.60M |
| Non current assets total | 0.24M | 1.06M | 1.08M | 1.39M | 1.49M |
| Capital lease obligations | 0.00M | 0.57M | 0.14M | 0.28M | 0.39M |
| Long term debt total | 1.04M | - | - | 0.14M | 0.28M |
| Breakdown | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
| Investments | 0.00M | 11.12M | 34.78M | -46.34M | -0.23M |
| Change to liabilities | - | - | - | 3.31M | 0.46M |
| Total cashflows from investing activities | 0.02M | 11.12M | 34.78M | -46.34M | -0.23M |
| Net borrowings | 4.82M | -0.17M | -0.17M | -0.17M | -0.03M |
| Total cash from financing activities | 5.14M | 5.07M | 0.50M | 36.66M | 31.00M |
| Change to operating activities | - | - | - | -0.16M | 0.14M |
| Net income | -15.74M | -32.19M | -39.00M | -24.42M | -6.97M |
| Change in cash | -5.75M | -2.71M | 4.95M | -24.10M | 23.92M |
| Begin period cash flow | 6.01M | 8.72M | 3.78M | 27.87M | 3.95M |
| End period cash flow | 0.27M | 6.01M | 8.72M | 3.78M | 27.87M |
| Total cash from operating activities | -10.91M | -18.90M | -30.34M | -14.42M | -6.84M |
| Issuance of capital stock | 0.25M | 4.96M | 0.00M | 20.28M | 21.13M |
| Depreciation | 0.34M | 0.54M | 0.45M | 0.44M | 0.27M |
| Other cashflows from investing activities | 0.02M | 0.04M | -0.04M | -46.01M | -0.21M |
| Change to account receivables | 0.18M | 0.56M | 0.23M | -0.20M | -0.09M |
| Sale purchase of stock | 0.25M | 4.98M | 0.00M | 36.51M | 29.90M |
| Other cashflows from financing activities | -0.05M | 0.28M | 0.68M | 16.55M | 9.90M |
| Change to netincome | - | - | - | 6.61M | -0.66M |
| Capital expenditures | 0.00M | 0.00M | 0.10M | 0.33M | 0.02M |
| Change in working capital | 1.74M | 11.16M | 4.99M | 2.95M | 0.52M |
| Stock based compensation | 2.30M | 1.75M | 3.90M | 7.45M | 0.22M |
| Other non cash items | 0.52M | -0.15M | -0.68M | -0.84M | -0.88M |
| Free cash flow | -10.91M | -18.90M | -30.44M | -14.75M | -6.86M |
Sector: Healthcare Industry: Biotechnology
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SVA Sernova Corp |
-0.01 4.35% |
0.11 | - | - | 65.86 | 24.15 | 36.69 | -11.27 |
| EPRX Eupraxia Pharmaceuticals Inc |
-0.17 1.76% |
9.48 | - | - | - | 8.45 | - | -3.88 |
| FRX Fennec Pharmaceuticals Inc |
0.20 1.35% |
14.99 | - | 21.01 | 6.95 | 6.35 | 4.25 | 20.27 |
| MSCL Satellos Bioscience Inc. |
- -% |
9.00 | - | - | - | 5.85 | - | 6.47 |
| HBP Helix BioPharma Corp. |
-0.10 9.80% |
0.92 | - | 3.87 | 4263.36 | 9.74 | 4422.35 | -6.36 |
Sernova Biotherapeutics Inc operates as a clinical-stage biotechnology company in Canada. The company develops regenerative medicine therapeutics comprising proprietary Cell Pouch, a bio-hybrid organ system to replicate natural body functions. Its Cell Pouch creates vascularized organs for the longevity and functionality of therapeutic cells and ensures containment for retrievability. Sernova Biotherapeutics Inc was formerly known as Sernova Corp. and changed its name to Sernova Biotherapeutics Inc in February 2025. Sernova Biotherapeutics Inc is based in Mississauga, Canada.
| Name | Title | Year Born |
|---|---|---|
| Mr. Frank A. Holler MBA | Exec. Chairman | 1957 |
| Dr. Philip M. Toleikis B.A., M.Sc., Ph.D. | Pres, CEO & Director | NA |
| Mr. David Swetlow C.A, C.A., CPA | Chief Financial Officer | NA |
| Mr. Douglas Maret | Chief Science Officer | NA |
| Mr. Christopher Barnes | VP of Investor Relations | NA |
| Mr. James T. Parsons CPA-CA, MAcc | CFO & Director | 1965 |
| Dr. Modestus Obochi M.B.A., Ph.D. | Chief Business Officer | NA |
| Dr. Frank Shannon M.D. | Vice President of Clinical Development & Regulatory Affairs | NA |
| Mr. Jonathan M. N. Rigby M.B.A., MBA | Executive Chairman | 1968 |
| Mr. David Burke | Vice President of Investor Relations | NA |
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