NasdaqGS:TOCA

Stock Analysis Report

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Executive Summary

As of June 15, 2020, Tocagen Inc. was acquired by Forte Biosciences, Inc., in a reverse merger transaction.


Snowflake Analysis

Imperfect balance sheet with weak fundamentals.

Share Price & News

How has Tocagen's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TOCA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-23.2%

TOCA

3.1%

US Biotechs

4.0%

US Market


1 Year Return

-79.4%

TOCA

24.2%

US Biotechs

5.0%

US Market

Return vs Industry: TOCA underperformed the US Biotechs industry which returned 16.5% over the past year.

Return vs Market: TOCA underperformed the US Market which returned 5% over the past year.


Shareholder returns

TOCAIndustryMarket
7 Day-23.2%3.1%4.0%
30 Day6.8%7.0%0.9%
90 Day-16.0%31.2%29.5%
1 Year-79.4%-79.4%25.5%24.2%7.2%5.0%
3 Year-91.5%-91.5%32.8%28.4%36.2%27.3%
5 Yearn/a0.04%-5.7%65.4%47.0%

Price Volatility Vs. Market

How volatile is Tocagen's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Tocagen undervalued compared to its fair value and its price relative to the market?

14.47x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TOCA's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TOCA's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TOCA is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: TOCA is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TOCA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TOCA is overvalued based on its PB Ratio (14.5x) compared to the US Biotechs industry average (3.5x).


Next Steps

Future Growth

How is Tocagen forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

30.4%

Forecasted Pharmaceuticals & Biotech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tocagen has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Tocagen performed over the past 5 years?

-24.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TOCA is currently unprofitable.

Growing Profit Margin: TOCA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TOCA is unprofitable, and losses have increased over the past 5 years at a rate of -24.1% per year.

Accelerating Growth: Unable to compare TOCA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TOCA is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (-4.5%).


Return on Equity

High ROE: TOCA has a negative Return on Equity (-2723.92%), as it is currently unprofitable.


Next Steps

Financial Health

How is Tocagen's financial position?


Financial Position Analysis

Short Term Liabilities: TOCA's short term assets ($14.5M) exceed its short term liabilities ($12.6M).

Long Term Liabilities: TOCA's short term assets ($14.5M) exceed its long term liabilities ($3.9M).


Debt to Equity History and Analysis

Debt Level: TOCA's debt to equity ratio (239.2%) is considered high.

Reducing Debt: Insufficient data to determine if TOCA's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


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.

Stable Cash Runway: TOCA has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: TOCA has less than a year of cash runway if free cash flow continues to reduce at historical rates of 23.5% each year


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TOCA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TOCA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TOCA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TOCA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TOCA's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?


CEO

Tocagen has no CEO, or we have no data on them.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TOCA insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Tocagen Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tocagen Inc.
  • Ticker: TOCA
  • Exchange: NasdaqGS
  • Founded: 2007
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$30.138m
  • Shares outstanding: 23.92m
  • Website: https://www.tocagen.com

Number of Employees


Location

  • Tocagen Inc.
  • 4242 Campus Point Court
  • Suite 500
  • San Diego
  • California
  • 92121
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TOCANasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 2017
37TDB (Deutsche Boerse AG)YesCommon StockDEEURApr 2017

Biography

As of June 15, 2020, Tocagen Inc. was acquired by Forte Biosciences, Inc., in a reverse merger transaction. Tocagen Inc., a clinical-stage cancer-selective gene therapy company, focuses on developing and commercializing product candidates designed to activate a patient's immune system against their cancer. Its cancer-selective gene therapy platform is built on retroviral replicating vectors (RRVs), which are designed to deliver therapeutic genes into the DNA of cancer cells. The company’s lead product candidate is Toca 511 & Toca FC that is under Phase III clinical trial for recurrent high-grade glioma. It is also developing Toca 511 & Toca FC in a Phase Ib clinical trial for intravenous treatment of advanced cancers. In addition, the company is developing other RRVs to deliver genes to cancer cells against validated immunotherapy targets. The company has a license agreement with ApolloBio to develop and commercialize Toca 511 & Toca FC; and a collaboration agreement with NRG Oncology to develop a clinical trial utilizing Toca 511 & Toca FC for the treatment of patients with newly diagnosed glioblastoma. Tocagen Inc. was founded in 2007 and is based in San Diego, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/16 09:25
End of Day Share Price2020/06/15 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.