Ocean Biomedical, Inc. (OCEA)
Ocean Biomedical, Inc. operates as a biopharmaceutical firm committed to identifying and advancing novel therapeutic solutions for various medical challenges, including cancer, fibrotic disorders, infectious illnesses, and inflammation. The company's pipeline includes the development of both mono-specific and bi-specific humanized monoclonal antibodies (mAbs). These candidates are specifically designed to target Chi3l1, offering potential treatments for non-small cell lung cancer and glioblastoma multiforme. Additionally, they are progressing a small molecule drug candidate aimed at Chit1, intended to address Idiopathic Pulmonary Fibrosis and Hermansky-Pudlak Syndrome. Leveraging its proprietary WPDS platform, Ocean Biomedical is also developing three further product candidates. These encompass a promising malaria vaccine, a humanized mAb therapeutic for malaria that targets the Plasmodium falciparum glutamic-acid-rich protein (PfGARP), and a small molecule malaria therapeutic also designed to interact with PfGARP. Furthermore, a treatment candidate for hospitalized COVID-19 patients is also under development. The company, established in 2019, maintains its operations in Providence, Rhode Island.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Ocean Biomedical, Inc.
No splits on record
Nothing in OCEA's public trading history: no forward or reverse split has affected the share count.
| Period | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $0 | $0 | $0 | $0 | $0 |
| Gross Margin | - | - | - | - | - |
| Research and Development | $26K | $8.41M | $33.93M | $49K | $35K |
| Selling, General, and Administrative | $3.77M | $2.48M | $28.41M | $1.6M | $197K |
| Other | $0 | $0 | -$61.78M | $0 | $0 |
| Total Operating Expenses | $3.8M | $2.48M | $567K | $1.65M | $232K |
| Operating Income (EBIT) | -$3.8M | -$2.48M | -$567K | -$1.65M | -$232K |
| Operating Margin | - | - | - | - | - |
| Interest Expense | -$2.05M | $691 | $0 | $0 | $0 |
| Interest Income | $0 | $1.52M | $2K | $0 | $0 |
| Other Income (Expense) | -$5.68M | $1.52M | $2K | -$1K | $0 |
| Income Before Tax (EBT) | -$3.3M | -$958K | -$564K | -$1.65M | -$232K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$3.3M | $565K | -$62.34M | -$1.65M | -$232K |
| Net Income Margin | - | - | - | - | - |
| Supplementary Data | |||||
| EPS | -0.12 | -0.05 | -0.04 | -0.08 | -0.01 |
| Diluted EPS | -0.12 | -0.05 | -0.04 | -0.08 | -0.01 |
| Weighted Average OS | 27.50M | 19.02M | 13.22M | 20.20M | 20.20M |
| EBITDA | -$7.43M | -$958K | -$328K | -$1.65M | -$232K |
| EBITDA Margin | - | - | - | - | - |
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $224K | $4K | $328K | $1.08M | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $224K | $4K | $328K | $1.08M | $0 | $0 |
| Accounts Receivable | $0 | $0 | $50K | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $224K | $1M | $0 | $0 | $386K | $0 |
| Total Current Assets | $812K | $2.11M | $468K | $1.55M | $386K | $0 |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $90K | $3.39M | $110.44M | $107.1M | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $90K | $3.39M | $110.44M | $107.1M | $0 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $902K | $5.5M | $110.91M | $108.65M | $386K | $0 |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $799K | $933K | $544K | $34K | $53K | $0 |
| Short-Term Debt | $16.3M | $12.12M | $2.15M | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $1.09M | $763K | $0 | $0 | $0 | -$232K |
| Total Current Liabilities | $33.89M | $30.01M | $3.46M | $246K | $2.27M | $232K |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $3.15M | $3.15M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $64.63M | $66.25M | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $64.63M | $66.25M | $3.15M | $3.15M | $53K | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | -$53K | $0 |
| Total Liabilities | $98.52M | $96.26M | $6.61M | $3.4M | $2.27M | $232K |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $110.44M | $107.1M | $0 | $0 |
| Retained Earnings | -$205.53M | -$196.06M | -$2.77M | -$564K | -$1.89M | -$232K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $107.92M | $105.29M | -$3.38M | -$1.28M | $0 | $0 |
| Total Equity | -$97.62M | -$90.76M | $104.3M | $105.26M | -$1.89M | -$232K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $902K | $5.5M | $110.91M | $108.65M | $386K | $0 |
| Supplementary Data | ||||||
| Total Debt | $16.3M | $12.12M | $2.15M | $0 | $0 | $0 |
| Net Debt | $16.3M | $12.11M | $1.82M | -$60K | $0 | $0 |
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | ||||||
| Net Income | -$9.48M | -$114.47M | -$958K | -$62.34M | -$1.65M | -$232K |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $745K | $1.21M | $12.38M | $56.55M | $0 | $0 |
| Changes in Working Capital: | ||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $869K | $1.23M | $290K | $0 | $0 | $0 |
| Other Working Capital | $174K | -$52K | $1.44M | $4.74M | $1.59M | $0 |
| Total Working Capital Change | $1.04M | $1.18M | $1.74M | $4.74M | $1.59M | $232K |
| Other Non-Cash Items | $3.51M | $102.65M | -$1.52M | -$2K | $0 | $0 |
| Net Cash from Operating | -$4.18M | -$9.43M | -$747K | -$1.05M | -$64K | $0 |
| Investing Activities | ||||||
| Capital Expenditures | $0 | $0 | -$3 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | -$2.1M | -$107.1M | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $3 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | -$2.1M | -$107.1M | $0 | $0 |
| Financing Activities | ||||||
| Debt Repaid | -$3.4M | -$650K | -$1.36M | - | - | - |
| Common Stock Issuance | $0 | $15.77M | $0 | $1.02M | $0 | $0 |
| Common Stock Repurchases | $0 | -$64.28M | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $52.1M | $0 | $96K | $64K | $0 |
| Net Cash from Financing | $3.4M | $10.4M | $2.1M | $1.11M | $64K | $0 |
| Forex Effect | $0 | $0 | $0 | $107.1M | $0 | $0 |
| Net Change in Cash | -$780K | $970K | -$747K | $60K | $0 | $0 |
| Supplementary Data | ||||||
| Operating Cash Flow | -$4.18M | -$9.43M | -$747K | -$1.05M | -$64K | $0 |
| Capital Expenditure | $0 | $0 | -$3 | $0 | $0 | $0 |
| Free Cash Flow | -$4.18M | -$9.43M | -$747K | -$1.05M | -$64K | $0 |
| Cash at Beginning | $1M | $34K | $1.08M | $0 | $0 | $0 |
| Cash at End | $224K | $1M | $328K | $60K | $0 | $0 |