New Risk • Aug 20
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AR$1.3b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AR$1.3b free cash flow). Negative equity (-AR$2.6b). Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (AR$6.60b market cap, or US$4.41m). Minor Risk Revenue is less than US$5m (AR$6.5b revenue, or US$4.4m). New Risk • Aug 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AR$1.9b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AR$1.9b free cash flow). Negative equity (-AR$2.8b). Earnings have declined by 52% per year over the past 5 years. Revenue is less than US$1m (AR$1.5b revenue, or US$975k). Market cap is less than US$10m (AR$6.75b market cap, or US$4.52m). Reported Earnings • Aug 10
Full year 2026 earnings released Full year 2026 results: Revenue: AR$1.46b (up 5.5% from FY 2025). Net loss: AR$466.3m (loss narrowed 40% from FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 196 percentage points per year, which is a significant difference in performance. Annonce • Apr 21
Instituto Rosenbusch S.A., Annual General Meeting, May 13, 2026 Instituto Rosenbusch S.A., Annual General Meeting, May 13, 2026. Location: san jose 1481, buenos aires Argentina New Risk • Apr 12
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AR$526m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Negative equity (-AR$526m). Earnings have declined by 57% per year over the past 5 years. Market cap is less than US$10m (AR$6.98b market cap, or US$5.10m). Minor Risk Revenue is less than US$5m (AR$6.4b revenue, or US$4.7m). Reported Earnings • Jan 16
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: AR$1.75b (down 24% from 3Q 2024). Net loss: AR$1.39b (loss widened 452% from 3Q 2024). New Risk • Nov 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Argentinean stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 29% per year over the past 5 years. Market cap is less than US$10m (AR$13.9b market cap, or US$9.78m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Revenue is less than US$5m (AR$5.0b revenue, or US$3.5m). Reported Earnings • Sep 28
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: AR$1.41b (down 36% from 2Q 2024). Net loss: AR$1.27b (loss widened 319% from 2Q 2024). New Risk • Jul 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 10% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (24% average weekly change). Market cap is less than US$10m (AR$5.91b market cap, or US$4.69m). New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings have declined by 21% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 21% per year over the past 5 years. Market cap is less than US$10m (AR$5.99b market cap, or US$4.72m). Minor Risk Revenue is less than US$5m (AR$6.3b revenue, or US$5.0m). Buy Or Sell Opportunity • Jun 04
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 88% to AR$207. The fair value is estimated to be AR$161, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Meanwhile, the company became loss making. New Risk • May 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Argentinean stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (AR$5.04b market cap, or US$4.24m). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Buy Or Sell Opportunity • Apr 10
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to AR$91.60. The fair value is estimated to be AR$120, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Meanwhile, the company became loss making. New Risk • Mar 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (AR$4.68b market cap, or US$4.40m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Large one-off items impacting financial results. Revenue is less than US$5m (AR$5.1b revenue, or US$4.8m). New Risk • Dec 10
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: AR$5.1b (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Market cap is less than US$10m (AR$4.86b market cap, or US$4.78m). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (AR$5.1b revenue, or US$5.0m). Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AR$106, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 18x in the Pharmaceuticals industry in South America. Total returns to shareholders of 912% over the past three years. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to AR$120, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 18x in the Pharmaceuticals industry in South America. Total returns to shareholders of 941% over the past three years. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to AR$101, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 18x in the Pharmaceuticals industry in South America. Total returns to shareholders of 794% over the past three years. Reported Earnings • Aug 22
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: AR$2.20b (up 248% from 2Q 2023). Net loss: AR$302.3m (loss widened 262% from 2Q 2023). Reported Earnings • May 24
First quarter 2024 earnings released First quarter 2024 results: Revenue: AR$1.96b (up 479% from 1Q 2023). Net income: AR$317.7m (up AR$348.2m from 1Q 2023). Profit margin: 16% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has increased by 127% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to AR$106, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 24x in the Pharmaceuticals industry globally. Total returns to shareholders of 1,052% over the past three years. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to AR$117, the stock trades at a trailing P/E ratio of 59.8x. Average trailing P/E is 23x in the Pharmaceuticals industry globally. Total returns to shareholders of 1,077% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to AR$91.10, the stock trades at a trailing P/E ratio of 46.8x. Average trailing P/E is 23x in the Pharmaceuticals industry globally. Total returns to shareholders of 759% over the past three years. New Risk • Mar 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Argentinean stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.6% operating cash flow to total debt). Market cap is less than US$10m (AR$4.74b market cap, or US$5.62m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (AR$1.2b revenue, or US$1.4m). Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to AR$130, the stock trades at a trailing P/E ratio of 66.6x. Average trailing P/E is 23x in the Pharmaceuticals industry globally. Total returns to shareholders of 1,080% over the past three years. New Risk • Feb 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 172% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.6% operating cash flow to total debt). Market cap is less than US$10m (AR$4.43b market cap, or US$5.33m). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (AR$1.2b revenue, or US$1.4m). Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to AR$99.80, the stock trades at a trailing P/E ratio of 52.5x. Average trailing P/E is 23x in the Pharmaceuticals industry globally. Total returns to shareholders of 768% over the past three years. New Risk • Nov 29
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.02x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.02x net interest cover). Market cap is less than US$10m (AR$2.49b market cap, or US$6.92m). New Risk • Sep 16
New major risk - Revenue and earnings growth Earnings have declined by 1.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.0% per year over the past 5 years. Market cap is less than US$10m (AR$1.26b market cap, or US$3.62m). Minor Risk Revenue is less than US$5m (AR$1.3b revenue, or US$3.6m). Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AR$24.70, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 24x in the Pharmaceuticals industry globally. Total returns to shareholders of 184% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AR$20.85, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 15x in the Pharmaceuticals industry in South America. Total returns to shareholders of 180% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to AR$18.00, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 13x in the Pharmaceuticals industry in South America. Total returns to shareholders of 163% over the past three years. Is New 90 Day High Low • Mar 05
New 90-day low: AR$10.00 The company is down 12% from its price of AR$11.35 on 04 December 2020. The Argentinean market is down 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Pharmaceuticals industry, which is up 2.0% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: AR$11.85 The company is up 45% from its price of AR$8.20 on 21 October 2020. The Argentinean market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 11% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: AR$11.50 The company is up 29% from its price of AR$8.89 on 21 August 2020. The Argentinean market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 7.0% over the same period. Is New 90 Day High Low • Oct 31
New 90-day high: AR$10.60 The company is up 15% from its price of AR$9.25 on 31 July 2020. The Argentinean market is down 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 20% over the same period.