Deep Value: cash covers more than 100% of the stock price

This company holds roughly $73M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Boundless Bio

BOLD

Biotechnology · Healthcare

Price

$3.00

+0.10 (+3.45%)

Market Cap

$67.4M

Exchange

NASDAQ Global Select

Winston Score

–

No score yet — Winston is napping.

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

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Winston Score History

The full picture

Boundless Bio is a small biotechnology company focused on developing cancer treatments. It targets a specific genetic abnormality called extrachromosomal DNA, or ecDNA, which helps some tumors grow aggressively and resist standard therapies. The company is working on drugs designed to attack this mechanism, with the goal of treating patients whose cancers have not responded well to existing options.

Boundless Bio earns no revenue yet, as its drug candidates are still in early clinical trials. It operates primarily in the United States and funds its research through cash raised from investors. With a market cap of roughly $100 million and deeply negative returns on capital, the company faces the typical risks of a pre-revenue biotech: it must continue raising money to survive while proving its drugs are safe and effective. The key risk is clinical failure — if its lead programs do not show strong results in trials, the company could struggle to attract further funding.

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

Revenue data limited

EPS Growth

-51.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$45M/ year

↓ Declining (-19% vs prior year)

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

Insider Activity

23.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~10 months

$73M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Boundless Bio has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Share count broadly stable

+0.5% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 22.2M (2021) → 22.4M (2025)

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

N/A

—

Data not available

Profit after running costs

Operating Margin

N/A

—

Data not available

Return on the money invested

ROCE

-103.1%

Weak — -103.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

N/A

—

Data not available

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

N/A

—

Data not available

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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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