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BioTime

DB:BT3
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BT3
DB
$187M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

BioTime, Inc., a clinical-stage biotechnology company, focuses on developing and commercializing therapies for the treatment of degenerative diseases in the United States and internationally. The last earnings update was 36 days ago. More info.


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  • BioTime has significant price volatility in the past 3 months.
BT3 Share Price and Events
7 Day Returns
-0.7%
DB:BT3
-1.4%
DE Biotechs
2.4%
DE Market
1 Year Returns
-42.3%
DB:BT3
-10.6%
DE Biotechs
-6.2%
DE Market
BT3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BioTime (BT3) -0.7% -19.4% 18% -42.3% -59.9% -39.1%
DE Biotechs -1.4% 2.6% -7.7% -10.6% 54.2% 8%
DE Market 2.4% 3% 7.4% -6.2% 9.6% 14.1%
1 Year Return vs Industry and Market
  • BT3 underperformed the Biotechs industry which returned -10.6% over the past year.
  • BT3 underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
BT3
Industry
5yr Volatility vs Market

Value

 Is BioTime undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of BioTime to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BioTime.

DB:BT3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:BT3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.448 (1 + (1- 21%) (1.21%))
1.309
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.31
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.309 * 5.96%)
8.03%

Discounted Cash Flow Calculation for DB:BT3 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BioTime is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:BT3 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.03%)
2019 -31.63 Analyst x2 -29.27
2020 -29.58 Analyst x2 -25.35
2021 -30.50 Analyst x2 -24.19
2022 -10.80 Analyst x1 -7.93
2023 32.60 Analyst x1 22.16
2024 50.83 Est @ 55.91% 31.98
2025 70.75 Est @ 39.21% 41.20
2026 90.22 Est @ 27.51% 48.63
2027 107.66 Est @ 19.33% 53.72
2028 122.30 Est @ 13.6% 56.49
Present value of next 10 years cash flows $167.43
DB:BT3 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $122.30 × (1 + 0.23%) ÷ (8.03% – 0.23%)
$1,570.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,570.93 ÷ (1 + 8.03%)10
$725.58
DB:BT3 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $167.43 + $725.58
$893.01
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $893.01 / 149.36
$5.98
DB:BT3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BT3 represents 0.87664x of AMEX:BTX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87664x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 5.98 x 0.87664
€5.24
Value per share (EUR) From above. €5.24
Current discount Discount to share price of €1.10
= -1 x (€1.10 - €5.24) / €5.24
79.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price BioTime is available for.
Intrinsic value
>50%
Share price is €1.1 vs Future cash flow value of €5.24
Current Discount Checks
For BioTime to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BioTime's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BioTime's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BioTime's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BioTime's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BT3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.36
AMEX:BTX Share Price ** AMEX (2019-04-18) in USD $1.25
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.41x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BioTime.

DB:BT3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:BTX Share Price ÷ EPS (both in USD)

= 1.25 ÷ -0.36

-3.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BioTime is loss making, we can't compare its value to the Europe Biotechs industry average.
  • BioTime is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does BioTime's expected growth come at a high price?
Raw Data
DB:BT3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
9.1%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.3x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for BioTime, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BioTime's assets?
Raw Data
DB:BT3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.74
AMEX:BTX Share Price * AMEX (2019-04-18) in USD $1.25
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.71x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.85x
DB:BT3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:BTX Share Price ÷ Book Value per Share (both in USD)

= 1.25 ÷ 0.74

1.69x

* Primary Listing of BioTime.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BioTime is good value based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess BioTime's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. BioTime has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is BioTime expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BioTime expected to grow at an attractive rate?
  • Unable to compare BioTime's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare BioTime's earnings growth to the Germany market average as it is expected to be loss making during the next 1-3 years.
  • BioTime's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BT3 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BT3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 9.1%
DB:BT3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 71.2%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.5%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:BT3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BT3 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 247 -1 4
2022-12-31 9 -58 4
2021-12-31 5 -44 4
2020-12-31 5 -35 4
2019-12-31 3 -38 4
DB:BT3 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 5 -31 -46
2018-09-30 5 -31 -73
2018-06-30 6 -31 -125
2018-03-31 4 -33 -133
2017-12-31 3 -31 -20
2017-09-30 4 -34 47
2017-06-30 3 -35 64
2017-03-31 4 -36 100
2016-12-31 6 -42 34
2016-09-30 6 -47 25
2016-06-30 7 -50 -20
2016-03-31 8 -50 -54

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BioTime is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • BioTime's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:BT3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from BioTime Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BT3 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.42 1.74 -0.38 4.00
2022-12-31 -0.33 -0.23 -0.47 4.00
2021-12-31 -0.26 -0.13 -0.36 4.00
2020-12-31 -0.22 -0.08 -0.32 4.00
2019-12-31 -0.26 -0.25 -0.27 4.00
DB:BT3 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.36
2018-09-30 -0.58
2018-06-30 -1.02
2018-03-31 -1.11
2017-12-31 -0.17
2017-09-30 0.43
2017-06-30 0.60
2017-03-31 0.99
2016-12-31 0.34
2016-09-30 0.27
2016-06-30 -0.23
2016-03-31 -0.66

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if BioTime will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess BioTime's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BioTime has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has BioTime performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BioTime's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BioTime does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare BioTime's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare BioTime's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
BioTime's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BioTime Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BT3 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 4.99 -45.99 24.73 20.96
2018-09-30 5.23 -72.97 23.40 21.87
2018-06-30 5.93 -125.38 21.56 23.55
2018-03-31 3.77 -132.81 20.87 23.47
2017-12-31 3.46 -19.98 19.92 24.02
2017-09-30 3.54 46.88 19.45 26.34
2017-06-30 3.35 63.77 19.44 26.20
2017-03-31 4.24 99.97 21.66 28.87
2016-12-31 5.92 33.57 28.43 36.11
2016-09-30 6.30 25.22 33.31 41.88
2016-06-30 7.11 -20.05 36.28 46.89
2016-03-31 7.85 -54.35 35.83 47.02
2015-12-31 7.04 -47.41 29.13 42.60
2015-09-30 7.45 -44.62 23.70 41.08
2015-06-30 6.34 -38.77 20.42 38.45
2015-03-31 5.44 -38.57 19.07 38.45
2014-12-31 5.24 -36.50 17.56 37.53
2014-09-30 5.26 -45.47 17.05 35.49
2014-06-30 4.78 -46.24 17.06 33.10
2014-03-31 4.89 -44.26 15.81 29.62
2013-12-31 4.43 -43.88 15.56 26.61
2013-09-30 3.76 -30.31 14.60 22.18
2013-06-30 4.05 -26.28 12.57 20.32
2013-03-31 3.88 -24.17 11.41 19.33
2012-12-31 3.92 -21.43 10.37 18.12
2012-09-30 4.34 -20.75 10.19 17.27
2012-06-30 4.52 -19.30 9.84 16.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if BioTime has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if BioTime has efficiently used its assets last year compared to the Europe Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if BioTime improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess BioTime's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BioTime has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is BioTime's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up BioTime's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BioTime is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BioTime's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BioTime's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 16.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BioTime Company Filings, last reported 3 months ago.

DB:BT3 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 92.25 2.27 30.74
2018-09-30 169.56 1.63 21.44
2018-06-30 104.75 1.38 29.16
2018-03-31 102.46 1.43 31.38
2017-12-31 164.26 1.53 38.18
2017-09-30 208.99 1.44 18.17
2017-06-30 178.19 4.08 15.77
2017-03-31 189.70 3.71 24.73
2016-12-31 130.51 3.98 22.72
2016-09-30 136.24 3.19 31.35
2016-06-30 94.05 2.65 28.32
2016-03-31 59.59 6.17 27.96
2015-12-31 76.45 5.10 42.98
2015-09-30 60.93 4.75 29.38
2015-06-30 64.95 3.63 31.47
2015-03-31 57.51 0.81 25.83
2014-12-31 62.72 0.53 29.49
2014-09-30 38.95 0.11 7.42
2014-06-30 46.58 0.12 15.72
2014-03-31 45.36 0.00 6.64
2013-12-31 42.26 0.00 5.50
2013-09-30 25.37 0.00 6.72
2013-06-30 34.52 0.00 14.31
2013-03-31 29.98 0.00 9.90
2012-12-31 24.29 0.00 4.35
2012-09-30 29.21 0.00 7.83
2012-06-30 34.29 0.00 12.66
  • BioTime's level of debt (2.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 2.5% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • BioTime has less than a year of cash runway based on current free cash flow.
  • BioTime has less than a year of cash runway if free cash flow continues to reduce at historical rates of -19.7% each year.
X
Financial health checks
We assess BioTime's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BioTime has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is BioTime's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from BioTime dividends.
If you bought €2,000 of BioTime shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate BioTime's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate BioTime's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:BT3 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:BT3 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as BioTime has not reported any payouts.
  • Unable to verify if BioTime's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of BioTime's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as BioTime has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess BioTime's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BioTime afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BioTime has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of BioTime's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Brian Culley
AGE 47
TENURE AS CEO 0.6 years
CEO Bio

Mr. Brian M. Culley, M.A., M.B.A., has been President, Chief Executive Officer and Director of BioTime, Inc. since September 17, 2018. Mr. Culley served as Interim Chief Executive Officer of Artemis Therapeutics Inc. from August 9, 2017 to September 17, 2018. Mr. Culley served as the Chief Executive Officer of Mast Therapeutics, Inc. since February 2010 until April 2017. He served as Chief Executive Officer of Savara Inc. He served as the Chief Business Officer and Senior Vice President at Adventrx Pharmaceuticals Inc. /Mast Therapeutics, Inc. from January 2007 to February 2010 and served as its Principal Executive Officer since February 2009, it’s Senior Vice President of Business Development from February 2006 to January 2007 and its Vice President of Business Development from December 2004 to February 2006. He joined Adventrx Pharmaceuticals in December 2004. He served as the Interim Principal Executive Officer at Adventrx Pharmaceuticals Inc. since February 3, 2009. He served as a Vice President of Business Development of Adventrx Pharmaceuticals Inc. from December 2004 to February 2006. From 2002 to 2004, Mr. Culley managed all strategic collaborations and licensing agreements for iTherx, Inc. (formerly, Immusol, Inc.) in San Diego. He served as Director of Business Development & Marketing for Immusol, Inc., a privately-held drug development company in San Diego from 2002 to 2004. From 1999 to 2000, he served as a Licensing & Marketing Associate at the University of California, San Diego Department of Technology Transfer & Intellectual Property Services and from 1996 to 1999, he served as a Research Associate for Neurocrine Biosciences Inc., where he performed drug discovery research. Mr. Culley has 25 years of business and scientific experience in the life science industry. Mr. Culley served as a Director of Mast Therapeutics, Inc. since December 8, 2011 until April 2017. He received a BS in biology from Boston College, an M.S. in biochemistry and molecular biology from the University of California, Santa Barbara and an MBA from The Johnson School of Business at Cornell University with an emphasis on private equity and entrepreneurship.

CEO Compensation
  • Insufficient data for Brian to compare compensation growth.
  • Insufficient data for Brian to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the BioTime management team in years:

1.5
Average Tenure
60
Average Age
  • The average tenure for the BioTime management team is less than 2 years, this suggests a new team.
Management Team

Bill Annett

TITLE
President & CEO of OncoCyte Corporation
COMPENSATION
$655K
AGE
64

Brian Culley

TITLE
CEO, President & Director
AGE
47
TENURE
0.6 yrs

Brandi Roberts

TITLE
CFO & Senior VP of Finance
AGE
44
TENURE
0.3 yrs

Ioana Hone

TITLE
Director of Investor Relations

Jim Knight

TITLE
Senior VP & Head of Corporate Development
TENURE
2.5 yrs

François Binette

TITLE
Senior VP & Global Head of Product Development
TENURE
3 yrs

Gary Hogge

TITLE
Senior Vice President of Clinical & Medical Affairs
TENURE
1.2 yrs

Edward Wirth

TITLE
Chief Medical Officer
TENURE
0.1 yrs

Rami Skaliter

TITLE
Chief Executive Officer of Cell Cure Neurosciences Ltd.
AGE
60
TENURE
1.8 yrs

Harold Waitz

TITLE
Vice President of Regulatory Affairs & Quality Control
COMPENSATION
$90K
AGE
76
TENURE
24.3 yrs
Board of Directors Tenure

Average tenure and age of the BioTime board of directors in years:

4.5
Average Tenure
57
Average Age
  • The tenure for the BioTime board of directors is about average.
Board of Directors

Al Kingsley

TITLE
Chairman of the Board
COMPENSATION
$1M
AGE
75
TENURE
9.8 yrs

Brian Culley

TITLE
CEO, President & Director
AGE
47
TENURE
0.6 yrs

Neal Bradsher

TITLE
Independent Director
COMPENSATION
$90K
AGE
52
TENURE
9.8 yrs

Deborah Andrews

TITLE
Independent Director
COMPENSATION
$108K
AGE
61
TENURE
5 yrs

Cavan Redmond

TITLE
Director
AGE
57
TENURE
1.2 yrs

Steve Farrell

TITLE
Independent Director
COMPENSATION
$103K
AGE
53
TENURE
6.1 yrs

Michael Mulroy

TITLE
Independent Director
COMPENSATION
$283K
AGE
52
TENURE
4.5 yrs

Angus Russell

TITLE
Independent Director
COMPENSATION
$93K
AGE
62
TENURE
4.3 yrs

Don Bailey

TITLE
Director
AGE
72
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. Sep 18 Buy Deborah Andrews Individual 11. Sep 18 11. Sep 18 1,604 €2.03 €3,253
X
Management checks
We assess BioTime's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BioTime has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

BioTime, Inc., a clinical-stage biotechnology company, focuses on developing and commercializing therapies for the treatment of degenerative diseases in the United States and internationally. The company’s lead product candidates include OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa multicenter trial for the treatment of the dry age-related macular degeneration; OPC1, an oligodendrocyte progenitor cell therapy that is in Phase I/IIa multicenter clinical trial for the treatment of acute spinal cord injuries; and VAC2, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer. It also develops Renevia, a facial aesthetics product that is in pivotal clinical trial for the treatment of HIV-associated facial lipoatrophy; ReGlyde, a HyStem product in preclinical development as a device for viscosupplementation, and as a platform for intraarticular drug delivery in osteoarthritis; and Premvia, a Hystem Hydrogel product, as well as develop bone grafting products for the orthopedic diseases and injuries. In addition, it markets GeneCards, a human gene database; MalaCards, a human disease database; and Hextend, a plasma volume expander used to treat or prevent hypovolemia, including albumin, generic 6% hetastarch solutions, and crystalloid solutions, as well as undertakes various research programs for vision restoration and Demyelination. The company has collaboration with Orbit Biomedical, Ltd. BioTime, Inc. was founded in 1990 and is headquartered in Alameda, California.

Details
Name: BioTime, Inc.
BT3
Exchange: DB
Founded: 1990
$166,014,669
149,360,926
Website: http://www.biotimeinc.com
Address: BioTime, Inc.
1010 Atlantic Avenue,
Suite 102,
Alameda,
California, 94501,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX BTX Common Shares NYSE MKT LLC US USD 05. Mar 1992
DB BT3 Common Shares Deutsche Boerse AG DE EUR 05. Mar 1992
LSE 0HNF Common Shares London Stock Exchange GB USD 05. Mar 1992
TASE BTX Common Shares The Tel-Aviv Stock Exchange IL ILS 05. Mar 1992
Number of employees
Current staff
Staff numbers
78
BioTime employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:19
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/15
Last earnings filing: 2019/03/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.