Panacos Pharmaceuticals, Inc. Financial Ratios — PANC Stock

Profitability (USD)

	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-11.28	-48.69	-21.13	-43.79	-60.74	-22.31	-100.38	-120.69	-48.48	-61.73
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	15.8	39.35	42.9	41.85	41.63	100	100	100	100	100	100
EBITDA Margin (%)	-48.99	-3.55	-0.18	-26.56	-49.73	-458.34	-388.96	-878.23	-3,807.24	-14,416.9	-21,237.78
Operating Margin (%)	-67.84	-13.61	-8.32	-37.45	-62.3	-483.8	-401.76	-895.21	-3,867.21	-14,681.34	-21,678.89
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	-87.09	- -	- -	- -	- -	- -	- -
Profit Margin (%)	-73.85	-18.93	-98.43	-36.8	-87.09	-474.33	-418.18	-900.37	-5,631.84	-13,419.01	-20,810.56
Net Income to Common Margin (%)	-73.85	-18.93	-98.43	-36.8	-87.09	-474.33	-486.18	-1,044.35	-5,631.84	-13,419.01	-20,810.56
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	13.99	13.79	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

API Chat

	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Total Debt	16	15	9	5	- -	- -	- -	- -	- -	- -	19
ST Debt	4	4	4	4	- -	- -	- -	- -	- -	- -	3
LT Debt	13	11	5	1	- -	- -	- -	- -	- -	- -	17
Total Debt/EBITDA	-2.11	-12.58	-136.26	-0.46	-0.03	-0.01	- -	-0.01	-0.01	-0.01	-0.51
Net Debt/EBITDA	-1.43	16.83	257.21	0.26	1.61	0.37	1.02	0.4	2.18	0.8	0.49
Total Debt/EBIT	-1.53	-3.28	-2.95	-0.32	-0.02	-0.01	- -	-0.01	-0.01	-0.01	-0.49
Net Debt/EBIT	-1.03	4.39	5.57	0.19	1.29	0.35	0.98	0.39	2.14	0.79	0.48
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-69.9	-44	-89.88	-133.64	-251.14	-565.03	-853.74	-400.03	-91.68	-185.88	-286.28
Long-Term Debt/Equity (%)	108.55	20.71	9.27	1.24	0.49	- -	- -	- -	- -	- -	57.27
Long-Term Debt/Capital (%)	-123.3	-61.67	-8.43	-0.7	-0.15	- -	- -	-0.14	- -	- -	-11.8
Long-Term Debt/Total Assets (%)	33.25	14.76	6.58	0.88	0.37	- -	- -	0.55	- -	- -	29.68
Total Debt/Equity (%)	140.17	28.17	16.81	10.95	1.26	1.23	- -	-0.62	0.25	0.62	66.89
Total Debt/Capital (%)	-159.22	-83.89	-15.29	-6.17	-0.38	-0.12	- -	-0.65	-0.25	-0.3	-13.78
Total Debt/Total Assets (%)	42.93	20.07	11.92	7.76	0.96	0.69	- -	2.59	0.23	0.55	34.66
Net Debt to Equity	94.87	-37.69	-31.73	-6.25	-65.68	-55.15	-34.78	17.85	-101.55	-55.86	-64.6
Net Debt/Capital (%)	-71.15	37.9	20.02	3.21	16.55	5.23	2.75	15.71	50.87	21.17	10.48
EBITDA	-8	-1	- -	-11	-13	-19	-4	-12	-40	-41	-38
EBITDA-CapEx	-12	-6	-9	-17	-15	-21	-4	-12	-40	-41	-38
Operating Income (Loss)	-11	-5	-3	-15	-17	-20	-4	-12	-41	-42	-39

Liquidity (USD)

API Chat

	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Cash Ratio	0.47	3.36	1.79	0.56	4.25	0.81	1.48	1.78	14.97	9.33	5.35
Current Ratio	0.75	4.15	2.38	1.32	4.93	1.61	3.2	1.9	15.23	9.67	5.47
Quick Ratio	0.67	3.8	2.13	1.12	4.8	1.54	2.92	1.88	15.04	9.34	5.36
CFO/Avg Current Liab	- -	-0.64	0.06	-0.93	-1.31	-2.81	-0.67	-3.47	-5.06	-4.81	-3.83
Common Equity/Total Assets	-69.9	-44	-89.88	-133.64	-251.14	-565.03	-853.74	-400.03	-91.68	-185.88	-286.28
Long-Term Debt/Equity (%)	108.55	20.71	9.27	1.24	0.49	- -	- -	- -	- -	- -	57.27
Long-Term Debt/Capital (%)	-123.3	-61.67	-8.43	-0.7	-0.15	- -	- -	-0.14	- -	- -	-11.8
Long-Term Debt/Total Assets (%)	33.25	14.76	6.58	0.88	0.37	- -	- -	0.55	- -	- -	29.68
Total Debt/Equity (%)	140.17	28.17	16.81	10.95	1.26	1.23	- -	-0.62	0.25	0.62	66.89
Total Debt/Capital (%)	-159.22	-83.89	-15.29	-6.17	-0.38	-0.12	- -	-0.65	-0.25	-0.3	-13.78
Total Debt/Total Assets (%)	42.93	20.07	11.92	7.76	0.96	0.69	- -	2.59	0.23	0.55	34.66
CFO/Total Liabilities	-36.6	-31.91	3.35	-72.25	-123.55	-211.15	-73.02	-29.82	-362.58	-425.17	-115.63
CFO/CapEx	-2.49	-1.38	0.08	-2.2	-7.48	-14.14	-493.88	-128.59	-144.31	-57.09	-646.56
Altman's Z-Score	-1.58	0.16	-0.63	-2.07	-3.85	-12.22	-14.94	-11.91	0.74	-1.93	-5.3

Working Capital (USD)

API Chat

	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Accounts Receivable Turnover	- -	- -	- -	10.55	6.97	- -	0.52	0.64	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	34.61	52.39	- -	707.06	570.09	- -	- -	- -
Inventory Turnover	- -	13.23	8.26	10.9	19.62	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	27.6	44.2	33.49	18.6	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	3.34	5.76	13.49	7.29	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	109.17	63.4	27.07	50.1	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	-81.58	-19.21	41.03	20.89	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	-27.6	-44.2	1.12	33.79	- -	- -	- -	- -	- -	- -
Inventories	1	2	3	2	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	1	2	3	2	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API Chat

	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	24	20	4
- Cash & Cash Equivalents	5	35	27	8	22	7	4	5	87	33	38
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	16	15	9	5	- -	- -	- -	- -	- -	- -	19
Enterprise Value	11	-20	-18	-3	-25	-7	-4	-5	-63	-40	-28
Total Capital	-10	-18	-61	-80	-108	-128	-151	-25	-84	-122	-140
Total Debt/Capital (%)	-159.22	-83.89	-15.29	-6.17	-0.38	-0.12	- -	-0.65	-0.25	-0.3	-13.78
Total Debt / EV	1.48	-0.75	-0.53	-1.75	-0.02	-0.02	- -	-0.03	- -	-0.01	-0.68
EV/Sales	0.7	- -	- -	- -	- -	- -	- -	- -	144.54	500.68	52.23
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	24	20	4
Diluted Enterprise Value	11	-20	-18	-3	-22	-7	-4	-5	-63	-13	-14
EV per Share	15.37	- -	- -	- -	- -	- -	- -	- -	4.4	2.81	0.18
TTM Sales	16	34	38	41	27	4	1	1	1	- -	- -
TTM EBITDA	-8	-1	- -	-11	-13	-19	-4	-12	-40	-41	-38
TTM Operating Income	-11	-5	-3	-15	-17	-20	-4	-12	-41	-42	-39
TTM Cash Flow to Firm	- -	- -	- -	- -	-13	- -	- -	- -	- -	- -	- -
TTM Free Cash Flow to Firm	- -	- -	- -	- -	-11	- -	- -	- -	- -	- -	- -

Multiples (USD)

API Chat

	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	-1.11	-0.7	-0.14
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	11	-20	-18	-3	-25	-7	-4	-5	-63	-40	-28
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	0.23	0.36	0.07
EV/Sales	0.7	- -	- -	- -	- -	- -	- -	- -	144.54	500.68	52.23
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	-0.38	-0.84	-0.47
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	-0.7	-1.26	-0.72
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	-0.13	-0.47	-0.1
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	-0.28	-0.17	-0.03
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	-0.27	-0.26	-0.11
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	-0.49	-0.39	-0.17
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	-0.09	-0.15	-0.02
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	0.28	0.35	0.15
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	0.26	0.55	0.61
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	0.48	0.82	0.93
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	0.09	0.31	0.13
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	22.74	71.34	23.32
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	21.28	113.36	97.53
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	39.38	169	149.4
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	7.58	63.69	20.08
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	-1.1	-0.68	-0.14
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	-1.03	-1.09	-0.57
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	-1.91	-1.62	-0.87
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	-0.37	-0.61	-0.12
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	-1.04	-1.11	-0.57
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	-1.92	-1.65	-0.87
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	-0.37	-0.62	-0.12
EV/Sales Average	0.7	- -	- -	- -	- -	- -	- -	- -	129.96	1,018.23	872.07
EV/Sales High	0.7	- -	- -	- -	- -	- -	- -	- -	310.92	53.58	46.32
EV/Sales Low	0.7	- -	- -	- -	- -	- -	- -	- -	- -	521.46	97.69
EV/EBITDA Average	-1.43	16.83	257.21	0.26	1.61	0.37	1.02	0.4	1.62	0.01	0.03
EV/EBITDA High	-1.43	16.83	257.21	0.26	1.61	0.37	1.02	0.4	1.14	-0.37	-0.22
EV/EBITDA Low	-1.43	16.83	257.21	0.26	1.61	0.37	1.02	0.4	1.98	0.36	0.39
EV/EBIT Average	-1.03	4.39	5.57	0.19	1.29	0.35	0.98	0.39	1.59	0.01	0.03
EV/EBIT High	-1.03	4.39	5.57	0.19	1.29	0.35	0.98	0.39	1.12	-0.36	-0.21
EV/EBIT Low	-1.03	4.39	5.57	0.19	1.29	0.35	0.98	0.39	1.95	0.35	0.38
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	0.69	0.4	0.08
High Price	- -	- -	- -	- -	- -	- -	- -	- -	1.2	0.95	0.51
Enterprise Value Average	11	-20	-18	-3	-22	-7	-4	-5	-65	-1	-1
Enterprise Value High	11	-20	-18	-3	-22	-7	-4	-5	-46	15	8
Enterprise Value Low	11	-20	-18	-3	-22	-7	-4	-5	-79	-15	-15

	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Shares Outstanding	54	1	2	2	2	2	5	5	49	53	54
Diluted Weighted Avg Shares	1	1	1	2	2	2	2	5	34	51	53
Basic Weighted Avg Shares	1	1	1	2	2	2	- -	1	34	51	53
Revenue per Share	21.94	32.33	28.29	20.5	12.05	1.86	2.67	1.39	0.03	0.01	- -
EBITDA per Share	-10.75	-1.15	-0.05	-5.44	-5.99	-8.51	-10.4	-12.21	-1.16	-0.81	-0.72
Operating Income per Share	-14.88	-4.4	-2.35	-7.68	-7.51	-8.98	-10.75	-12.44	-1.18	-0.83	-0.73
Basic EPS, GAAP	-16.2	-6.12	-27.85	-7.54	-10.49	-8.81	-13	-14.51	-1.72	-0.75	-0.7
Basic EPS from Cont Ops	-16.2	-6.12	-27.85	-7.54	-10.49	-8.81	-11.19	-12.51	-1.72	-0.75	-0.7
Diluted EPS, GAAP	-16.2	-6.12	-27.85	-7.54	-10.49	-8.81	-2.3	-2.93	-1.72	-0.75	-0.7
Diluted EPS from Cont Ops	-16.2	-6.12	-27.85	-7.54	-10.49	-8.81	-1.98	-2.52	-1.72	-0.75	-0.7
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-13.43	-6.6	0.57	-6.76	-5.78	-9.19	-9.8	-10.16	-0.63	-0.59	-0.58
Free Cash Flow per Basic Share	-18.83	-11.38	-6.29	-9.82	-6.55	-9.84	-9.82	-10.24	-0.63	-0.6	-0.58
Cash & Equivalents per Share	7.34	33.77	20.06	3.91	11.33	3.19	10.57	5.07	2.53	1.2	0.98
Book Value per Share	-36.97	-31.66	-52.37	-42.88	-48.65	-56.52	-374.01	-26.33	-2.44	-2.42	-3
Tangible Book Value per Share	16.2	51.27	38.14	20.78	13.11	4.17	22.65	-27.9	2.49	1.16	0.54

Panacos Pharmaceuticals, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)