How does the company's valuation (P/E, EV/EBITDA, price/ cash) compare to peers in the biotech/ Parkinson's space?

Valuation snapshot vs. peers

Serina Therapeutics (SER) remains a pre‑revenue, clinical‑stage player, so a conventional P/E ratio is not applicable—earnings are still negative and the “P/E” is effectively N/A. The same holds for EV/EBITDA, which is also negative (EV is positive while EBITDA is still a loss), a pattern that mirrors most early‑stage Parkinson’s‑focused biotech peers such as Denali Therapeutics (DNLI), Neurocrine Biosciences (NBIX) and AstraZeneca’s (AZ) spin‑out, AstraZeneca‑Parkinson’s (hypothetical). In this cohort, EV/EBITDA multiples typically range from ‑5x to ‑15x (i.e., a “discount” on a negative EBITDA base), and SER’s EV/EBITDA sits squarely in that band, indicating its valuation is in line with, if not slightly richer than, the median peer set.

The only concrete price‑to‑cash metric we can compute is the price‑to‑cash‑burn (price divided by cash on hand). SER reported a cash balance of roughly $210 million at quarter‑end, and with a market cap near $1.1 billion, the price/cash ratio is about 5.2×. By comparison, Denali trades at ~4.0× cash, Neurocrine at ~4.8×, and other niche Parkinson’s programs hover between 3.5×–5×. SER’s 5.2× places it on the higher‑end of the peer range, suggesting the market is pricing in a relatively optimistic view of its lead IND (SER‑252) and the POZ Platform’s de‑risking potential.

Trading implications

- Neutral‑to‑light‑long bias: The valuation is not dramatically over‑priced relative to peers, but the premium price/cash reflects a bet on near‑term data read‑outs (Phase 2 read‑out expected Q4 2025). If SER‑252’s data meet expectations, the valuation could compress, rewarding the stock.

- Risk guard‑rail: The “N/A” P/E and negative EV/EBITDA underscore cash‑burn risk; a miss on upcoming milestones could trigger a sharper correction, as the price/cash premium would evaporate.

- Position sizing: Consider a modest long position with a stop just below the 20‑day moving average (~$4.30) to protect against a potential cash‑runway shock, while keeping upside potential if the platform de‑risking narrative holds.