MeritValue

Damora Therapeutics, Inc.

DMRAdata completeness 63%7 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'totalDebt'

The thesis, from the filings

Damora Therapeutics, Inc. earns about -372% on invested capital, and has bought back 95% of its shares over 5 years. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue—————
Net income−$51.8M1−$61.6M2−$38.3M3−$21.4M4−$209.8M4
Operating cash flow−$52.3M5−$42.9M6−$36.9M7−$18.6M8−$6.73M8
Capital expenditure$223,0009$196,00010———
Free cash flow (derived)−$52.5M5−$43.1M6———
Total debt—————
Cash & equivalents$62.6M11$32.8M12$21.5M13$14.2M14$257.6M14
Diluted shares25.3M25.4M1.1M1.2M1.4M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$1,763.6
your share of equity
Profit it earned you last year
−$1,539.53
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $1,763.6 of net worth that earned you −$1,539.53 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-372% avg · 5y
FY21 -75%FY22 -166%FY23 -267%FY24 -981%FY25 —

It earned an average -372% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−95% shares · 5y

Share count is down 95% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
only 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
$125.67
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0000950170-23-006807 (NetIncomeLoss)
  2. 10-K · period ending 2022-12-31 · accession 0000950170-24-028610 (NetIncomeLoss)
  3. 10-K · period ending 2023-12-31 · accession 0000950170-25-041981 (NetIncomeLoss)
  4. 10-K · period ending 2024-12-31 · accession 0001193125-26-115922 (NetIncomeLoss)
  5. 10-K · period ending 2021-12-31 · accession 0000950170-23-006807 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2022-12-31 · accession 0000950170-24-028610 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2023-12-31 · accession 0000950170-25-041981 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2024-12-31 · accession 0001193125-26-115922 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2021-12-31 · accession 0000950170-23-006807 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K · period ending 2022-12-31 · accession 0000950170-24-028610 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2021-12-31 · accession 0000950170-23-006807 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K · period ending 2022-12-31 · accession 0000950170-24-028610 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2023-12-31 · accession 0000950170-25-041981 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2024-12-31 · accession 0001193125-26-115922 (CashAndCashEquivalentsAtCarryingValue)