Appili Therapeutics

APLI.TO

Biotechnology · Healthcare

Price

C$0.01

+0.01 (+50.00%)

Market Cap

C$2.0M

Exchange

Toronto Stock Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count rising — dilution

+85.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 66.7M (2022) → 123.7M (2026)

Winston Score History

The full picture

Appili Therapeutics is a small Canadian biotech company focused on developing drugs to fight infectious diseases. Its main work involves treatments for serious bacterial infections and biodefense threats — meaning diseases that could be used in biological attacks or outbreaks. The company targets hospitals, government health agencies, and military customers who need medicines for hard-to-treat or rare infections.

Appili makes money by advancing drug candidates through clinical trials and then seeking partnerships, licensing deals, or government contracts to fund development and commercialization. It is headquartered in Halifax, Nova Scotia, and operates primarily in North America. The company has a very high gross margin because it earns revenue mainly from grants and contracts rather than selling physical products, but its deeply negative operating margin shows it spends far more than it earns — typical for a pre-commercial biotech. The key risk is that its pipeline drugs must successfully complete clinical trials and gain regulatory approval, which is uncertain and expensive for a company of this size.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+433.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-515.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$4M/ year

↓ Declining (-41% vs prior year)

>1,000% of revenue

97.7x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

26.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~0 months

C$40,003 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Appili Therapeutics grew revenue 433% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

98.9%

Premium pricing power — 98.9% gross margin

Profit after running costs

Operating Margin

-1368.9%

Losing money on operations — -1368.9%

Return on the money invested

ROCE

N/A

—

Data not available

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Growth

Sales growth

Sales YoY

+277.1%

Fast-growing sales (+277.1% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-367.3%

Burning cash (-367.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

—

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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