VCNX VACCINEX, INC.

Overview and Growth

In fiscal 2024, VACCINEX, INC. recorded $601.00K of revenue, net loss of $18.63M, and an operating cash outflow of $16.19M. At $601.00K, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 5.4% from $570.00K in fiscal 2023, increasing the company’s operating scale. On a per-share basis, diluted EPS was -$8.88, which connects the reported earnings outcome with the company’s diluted share count. The diluted weighted-average share count was 2.10M, linking total earnings with the per-share result received by shareholders. Diluted shares moved 352.7% from 463.65K in fiscal 2023, leaving the current share base higher year over year. At period end, total assets were $2.60M, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.23x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The reported operating result was an operating loss of $18.73M, reflecting costs that exceeded gross profit. The bottom-line result was a net loss of $18.63M after operating, financing, tax, and other recognized items. Negative EBITDA totaled $18.64M, confirming that the earnings deficit remained before depreciation and amortization. Before income taxes, the company recorded a loss of $18.63M, bridging the operating result to the final net loss. The reported income-tax provision was $0.00, the amount recognized between pretax income and the final net-income result. The net loss equaled 717.8% of period-end assets, showing the deficit relative to the asset base. The net loss narrowed to $18.63M from $20.25M in fiscal 2023.

Liquidity and Capital Structure

At period end, the $2.60M asset base was financed through $5.08M of liabilities and -$2.49M of equity. The company reported negative equity of -$2.49M, a capital deficit that reduces its ability to absorb losses through book equity. Current assets were $2.53M against $5.08M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 0.5x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Reported cash and equivalents were $1.11M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 21.8% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $25.00K, adding a fixed financing obligation alongside the company’s equity capital. Debt represented 1.0% of total assets, placing borrowing in the context of the company’s full resource base. The equity-to-assets relationship was -95.8%, placing book capital against the total resource base. The liabilities-to-assets relationship was 195.8%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 42.6%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 28.5% from $3.63M in fiscal 2023, leaving current total assets lower year over year. The reported cash balance changed 27.9% from $1.53M in fiscal 2023, ending lower year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $16.19M, rather than cash generation from operations. Capital expenditures used $22.00K in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. The company recorded a $16.21M cash deficit after capital spending for the period. Relative to total assets, the post-investment cash deficit measured 624.3%. Cash absorbed by operations decreased from $21.38M in fiscal 2023 to $16.19M.

Based on the annual report for the fiscal year ending Dec 31, 2024. Analysis generated Oct 21, 2026.