WinstonWınston
Stock

Cambium Bio Limited

CMB.AX
32
Biotechnology · Healthcare
Price
A$0.52
+0.02 (+4.00%)
Market Cap
A$15.3M
Exchange
Australian Securities Exchange
Winston Score
32
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Sep 21, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
Growth
Mixed
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count rising — dilution

+680.9% over 4y

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

Diluted shares outstanding: 3.1M (2022) → 23.9M (2026)

§Winston Score History

The full picture

Cambium Bio Limited, a clinical-stage regenerative medicine company, focuses on developing biologics for ophthalmology and tissue repair applications. The company provides lead product candidate is Elate Ocular for the treatment of dry eye disease. The company also develops Progenza, a stem cell platform for knee osteoarthritis and other tissue repair indications; and Sygenus, for wound healing indications. Cambium Bio Limited is headquartered in Bella Vista, Australia.

Growth Profile

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

Revenue Growth

-19.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+9.1% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

A$0/ year

Declining (-100% vs prior year)

0.0% of revenue

Below sector average (18%)

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

Cash Runway

~2 months

A$1M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Cambium Bio Limited 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
70.5%
Premium pricing power — 70.5% gross margin
Profit after running costs
Operating Margin
-858.2%
Losing money on operations — -858.2%
Return on the money invested
ROCE
-172.3%
Weak — -172.3% 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
-4.2%
Shrinking sales (-4.2% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-437.9%
Burning cash (-437.9%)

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
0.06
Conservative — low debt load (0.06)
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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