$5.63
+1.3%Clinical-stage biotechnology company developing differentiated therapies for immunological/autoimmune & inflammatory (I&I) diseases, notably non‑depleting anti‑OX40 monoclonal antibody IMG‑007 in Phase 2b for atopic dermatitis
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$45.9M | -$44.1M | -$42.3M | -$40.6M | -$39.0M | -$37.5M | -$36.0M | -$34.5M | -$33.1M | -$31.8M |
| Maintenance CapEx | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 |
| Owner Earnings | -$45.9M | -$44.1M | -$42.3M | -$40.6M | -$39.0M | -$37.5M | -$36.0M | -$34.5M | -$33.1M | -$31.8M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | -$42.5M | -$37.8M | -$33.6M | -$29.9M | -$26.6M | -$23.6M | -$21.0M | -$18.6M | -$16.6M | -$14.7M |
Snapshot
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Value Model
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Statements
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Earnings Call
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Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
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