MeritValue

OS Therapies Inc

OSTXdata completeness 75%3 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own
FigureFY 2023FY 2024FY 2025
Revenue———
Net income−$7.79M1−$8.88M2−$28.8M2
Operating cash flow−$3.01M3−$7.28M4−$14.2M4
Capital expenditure——$466,4235
Free cash flow (derived)——−$14.7M4
Total debt———
Cash & equivalents$38,9826$5.53M6$269,8306
Diluted shares5.4M7.0M29.3M

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
−$2.08
your share of equity
Profit it earned you last year
−$9.83
Free cash flow it threw off
−$5.03
Debt you’d be carrying
—

10 shares is a claim on −$2.08 of net worth that earned you −$9.83 and generated −$5.03 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 3y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
+439% shares · 3y

Share count is up 439% over 3 years — owners have been diluted. Worth asking what they got for it.

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 v0.5.0
DCF · Growth Exit 10Y
not applicable
only 1 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 1 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2023-12-31 · accession 0001213900-25-026238 (NetIncomeLoss)
  2. 10-K · period ending 2024-12-31 · accession 0001213900-26-036629 (NetIncomeLoss)
  3. 10-K · period ending 2023-12-31 · accession 0001213900-25-026238 (NetCashProvidedByUsedInOperatingActivities)
  4. 10-K · period ending 2024-12-31 · accession 0001213900-26-036629 (NetCashProvidedByUsedInOperatingActivities)
  5. 10-K · period ending 2025-12-31 · accession 0001213900-26-036629 (PaymentsToAcquireProductiveAssets)
  6. 10-K · period ending 2023-12-31 · accession 0001213900-26-036629 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)