1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Metrics vs Peers
3. Price Chart
4. Valuation
5. Offer Terms
6. Financial Statements
Discussion
Research report, target price, DCF and forensic scores are for subscribers. View plans
Symbol
MYNZ
Listed on
2021-11-05
Sector
Health Care
Subsector
Pharmaceuticals
Offer Price
$5.00
first filed $4.00–$6.00Shares Offered
2M
11.71M
$58.6M
17.1%
Implied Upside vs Midpoint
Description
We are a molecular genetics cancer diagnostic company formed in 2021 to acquire PharmGenomics GmbH (“PharmGenomics“) with the purpose of commercializing their product portfolio in Europe and the United States. PharmGenomics, a German DIN EN ISO 13485-certified manufacturer of in-vitro diagnostic (“IVD”) tests with its own molecular genetic laboratory, has developed several IVD tests for the European market since it was founded in 2008. Our portfolio consists of the following products and product candidates: • ColoAlert, a colorectal cancer (“CRC”) screening stool DNA (“deoxyribonucleic acid”) test licensed from ColoAlert AS and sold in Europe, • PancAlert, a product candidate in an early stage of research for a pancreatic cancer screening test based on Real-Time Polymerase Chain Reaction (“PCR”)-based multiplex detection of molecular-genetic biomarkers in stool samples, • GenoStrip, a proposed platform technology in an early stage of research to detect pathogens in environments on a molecular genetic basis where a qualitative evaluation must be made in a short-time period and • Legacy Research-Use-Only (“RUO”) and IVD tests, such as the GenoChips and the HumaSense product line, that we intend to license to third parties, sell or discontinue within the coming 18 months as well as third-party laboratory testing that we plan to discontinue. --- We were incorporated on March 8, 2021 as a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) under Dutch law, and on November 9, 2021 we converted into a Dutch public company with limited liability (naamloze vennootschap). We have our corporate seat is in Amsterdam, the Netherlands and our registered office is at Robert-Koch Strasse 50, 55129 Mainz, Federal Republic of Germany. Telephone: 0049 6131 5542860.
| Metric | Value | Peer median | Among peers | Trend |
|---|---|---|---|---|
EV / revenue | >100x | 88.9x | ||
Revenue growth | 75.4% | — | — | |
Gross margin | 24.9% | — | — | |
Operating margin | -136% | — | — | |
Net margin | -119% | -58.3% | ||
Free cash flow margin | -96.9% | — | — | |
Rule of 40 | -61.1% | — | — | |
Net cash / market cap | 0.1% | 0.8% | ||
Debt / equity | neg. equity | 0.00 | ||
Current ratio | 0.27 | 0.53 | ||
9 premium metrics: DCF value / price, Growth the price needs: how common, Last 12 months vs full year and 6 more Unlock | ||||
Each filing is plotted ahead of the first trading day on the price chart.
| Filed | Form | Price range | Price | Shares offered | Deal size |
|---|---|---|---|---|---|
| 2021-10-12 | F-1 | $4.00–$6.00 | — | 1,000,000 | $5.0M |
| 2021-10-26 | F-1/A | $4.00–$6.00 | — | 1,000,000 | $5.0M |
| 2021-11-02 | F-1/A | $4.00–$6.00 | — | 1,000,000 | $5.0M |
MAINZ BIOMED N.V. income statement and balance sheet, FY Dec 2021 to FY Dec 2025, as reported in SEC filings.
| Metric | FY Dec 2021after listing | FY Dec 2022after listing | FY Dec 2024after listing | FY Dec 2025after listing |
|---|---|---|---|---|
| Revenue | $577K | $530K | $894K | $537K |
| Gross profit | $178K | $182K | $575K | $390K |
| Operating income | ($9.7M) | ($26.5M) | ($18.8M) | ($16.1M) |
| Net income | ($11.7M) | ($26.4M) | ($21.6M) | ($16.2M) |
| Revenue growth | — | −8.2% | 68.7% | −39.9% |
| Gross margin | 30.8% | 34.4% | 64.3% | 72.6% |
| Operating margin | −1684% | −5003% | −2100% | −3005% |
| Net margin | −2025% | −4980% | −2416% | −3018% |
| Metric | FY Dec 2021after listing | FY Dec 2022after listing | FY Dec 2024after listing | FY Dec 2025after listing |
|---|---|---|---|---|
| Total assets | $10.0M | $20.2M | $13.5M | $5.3M |
| Total liabilities | $3.7M | $6.1M | $7.5M | $4.7M |
| Total equity | $6.4M | $14.1M | $6.0M | $642K |
| Cash & equivalents | $8.7M | $17.1M | $6.2M | $889K |