Biora Therapeutics, Inc. (PROG)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Biora Therapeutics, Inc. (PROG) trades at $0.88 with AI Score 51/100 (Grade B). Biora Therapeutics, Inc. is a biotechnology company focused on developing oral biotherapeutics and smart diagnostics for gastrointestinal diseases. Market cap: $8.18M, Sector: Healthcare.
Price live · AI analysis from May 10, 2026Analyst Coverage for PROG: PROG does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates PROG against Healthcare peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
PROG: the 7 perspectives are evenly split. Dominant signal: Ken Griffin bearish.
How is this calculated? →Biora Therapeutics, Inc. (PROG) Healthcare & Pipeline Overview
Biora Therapeutics, Inc., formerly Progenity, is a biotechnology firm specializing in targeted oral drug delivery and diagnostic solutions for inflammatory bowel diseases and other gastrointestinal conditions. Their pipeline includes novel formulations and ingestible smart capsules designed to improve treatment efficacy and patient outcomes in the biopharmaceutical sector.
What Is the Investment Thesis for PROG?
Biora Therapeutics presents a high-risk, high-reward investment opportunity within the biotechnology sector. The company's focus on oral delivery of biotherapeutics for inflammatory bowel diseases and other GI conditions addresses a significant unmet need. Key value drivers include successful clinical trials for PGN-600 and PGN-001, partnerships for its OBDS technology, and regulatory approvals. However, the company's negative profit margin of -3102875.0% and limited market capitalization of $8.18M indicate substantial financial risks. Growth catalysts include advancements in its smart capsule technology and expansion of its pipeline. Investors should closely monitor clinical trial outcomes, regulatory milestones, and the company's ability to secure additional funding to sustain operations.
Based on FMP financials and quantitative analysis
PROG Key Highlights
- Market capitalization of $8.18M, indicating a micro-cap company with high growth potential but also significant risk.
- Gross margin of 100.0%, reflecting efficient production costs but offset by substantial operating expenses.
- Profit margin of -3102875.0%, highlighting significant losses and the need for substantial revenue growth or cost reduction.
- Focus on oral delivery of biotherapeutics, a potentially disruptive technology in the treatment of inflammatory bowel diseases.
- Partnership with Ionis Pharmaceuticals to evaluate the OBDS for delivery of antisense oligonucleotides, validating the potential of Biora's delivery technology.
Who Are PROG's Competitors?
PROG is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ABBV AbbVie Inc. | $254.71 | -0.02% | $450.02B | 78 |
| JNJ Johnson & Johnson | $266.60 | +2.80% | $641.76B | 91 |
| MRK Merck & Co., Inc. | $128.86 | +1.64% | $318.26B | 83 |
| ANAB AnaptysBio, Inc. | $67.29 | +8.00% | $2.90B | 79 |
| SNDX Syndax Pharmaceuticals, Inc. | $23.12 | +4.69% | $2.05B | 79 |
| ABCL AbCellera Biologics Inc. | $7.69 | -2.29% | $2.35B | 76 |
| CGEN Compugen Ltd. | $2.38 | +1.06% | $225.51M | 76 |
| GLUE Monte Rosa Therapeutics, Inc. | $24.32 | +4.58% | $1.58B | 68 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are PROG's Key Strengths?
- Innovative oral drug delivery technology.
- Pipeline of targeted therapies for GI diseases.
- Partnership with Ionis Pharmaceuticals.
- Expertise in developing ingestible smart capsules.
What Are PROG's Weaknesses?
- Limited financial resources.
- Negative profit margin.
- Dependence on clinical trial success.
- Early stage of product development.
What Could Drive PROG Stock Higher?
- Phase 2 clinical trial data readout for PGN-600 in 2027, which could validate the efficacy of Biora's oral tofacitinib formulation.
- Initiation of Phase 1 clinical trials for PGN-001 in 2026, assessing the safety and tolerability of the oral adalimumab variant.
- Continued development and validation of the Recoverable Sampling System and PIL Dx smart capsule technologies for GI diagnostics.
- Potential announcement of new partnerships or licensing agreements for Biora's OBDS technology in 2026-2027.
What Are the Key Risks for PROG?
- Financial-distress signal — its Altman Z-Score of -19.81 sits in the distress zone (elevated bankruptcy risk).
- Clinical trial failures for PGN-600 or PGN-001, which could significantly impact the company's valuation and future prospects.
- Regulatory delays or rejection of Biora's therapeutic products by the FDA.
- Competition from established pharmaceutical companies with greater resources and market share.
- Dependence on securing additional funding to sustain operations and advance its pipeline.
- Intellectual property disputes or patent infringement claims.
What Are the Growth Opportunities for PROG?
- Expansion of the PGN-600 program: Biora has the opportunity to expand the clinical development of PGN-600, its orally delivered tofacitinib formulation for ulcerative colitis. The ulcerative colitis market is projected to reach $7.5 billion by 2028. Positive clinical trial results and subsequent regulatory approval could drive significant revenue growth for Biora. Timeline: Ongoing clinical trials with potential for Phase 2 data readout in 2027.
- Advancement of PGN-001: Biora can advance the development of PGN-001, its orally delivered adalimumab variant for ulcerative colitis. Adalimumab is a blockbuster drug, and an oral formulation could capture a significant share of the market. Successful clinical trials and regulatory approval are critical. The global adalimumab market was valued at $15 billion in 2025. Timeline: Preclinical and early clinical development with potential for Phase 1 trials in 2026.
- Development of Systemic Oral Delivery Systems: Biora can further develop its systemic oral delivery systems, PGN-OB and PGN-OB2, targeting inflammatory conditions and Type 2 diabetes, respectively. These programs leverage the Oral Biotherapeutics Delivery System (OBDS) and could address large patient populations. The market for diabetes treatments is projected to reach $45 billion by 2027. Timeline: Preclinical development with potential for clinical trials in 2027-2028.
- Commercialization of Smart Capsule Technology: Biora has the opportunity to commercialize its Recoverable Sampling System and PIL Dx, ingestible smart capsules for GI sampling and diagnostics. These technologies could revolutionize GI diagnostics and monitoring. The market for ingestible sensors is expected to reach $1.5 billion by 2028. Timeline: Ongoing development and potential for commercial launch in 2028-2029.
- Partnerships and Licensing Agreements: Biora can pursue additional partnerships and licensing agreements for its OBDS technology and other assets. Collaboration with pharmaceutical companies could provide non-dilutive funding and accelerate the development and commercialization of its products. The pharmaceutical licensing market is valued at over $100 billion annually. Timeline: Ongoing discussions with potential partners with deal announcements possible in 2026-2027.
What Opportunities Does PROG Have?
- Expansion of oral drug delivery platform to new therapeutic areas.
- Commercialization of smart capsule technology.
- Strategic partnerships with pharmaceutical companies.
- Growing market for IBD therapies.
What Threats Does PROG Face?
- Competition from established pharmaceutical companies.
- Regulatory hurdles and clinical trial failures.
- Patent infringement and intellectual property disputes.
- Economic downturn and reduced healthcare spending.
What Are PROG's Competitive Advantages?
- Proprietary Oral Biotherapeutics Delivery System (OBDS) technology.
- Patent protection for its drug formulations and delivery systems.
- Expertise in developing and manufacturing ingestible smart capsules.
- Strategic partnerships with pharmaceutical companies.
What Does PROG Do?
Founded in 2010 as Ascendant MDX, Inc. and later renamed Progenity, Inc. in 2013, Biora Therapeutics, Inc. is a biotechnology company headquartered in San Diego, California. The company focuses on developing and commercializing innovative molecular testing products and targeted oral delivery of biotherapeutics. Their core technology revolves around addressing unmet needs in gastrointestinal diseases through advanced drug delivery systems and diagnostic tools. Biora's product pipeline includes PGN-600, an orally delivered formulation of tofacitinib for ulcerative colitis, and PGN-001, an orally delivered variant of adalimumab, also for ulcerative colitis. These therapies aim to provide more convenient and effective treatment options for patients. Additionally, Biora is developing systemic oral delivery systems such as PGN-OB, a combination of adalimumab and the Oral Biotherapeutics Delivery System (OBDS) for inflammatory conditions, and PGN-OB2, a GLP-1 receptor agonist with OBDS for Type 2 diabetes. The company also develops the Recoverable Sampling System, an ingestible smart capsule for targeted GI sampling, and PIL Dx, a capsule for real-time measurement and transmission of diagnostic results. Biora Therapeutics has a partnership with Ionis Pharmaceuticals to explore the use of OBDS for delivering antisense oligonucleotides, highlighting its commitment to innovative drug delivery solutions.
What Products and Services Does PROG Offer?
- Develops targeted oral delivery of biotherapeutics.
- Creates orally delivered formulations of drugs like tofacitinib and adalimumab for ulcerative colitis.
- Develops systemic oral delivery systems for inflammatory conditions and Type 2 diabetes.
- Engineers ingestible smart capsules for targeted GI sampling and diagnostics.
- Partners with pharmaceutical companies to evaluate and license its drug delivery technologies.
- Focuses on improving drug delivery and diagnostic accuracy in gastrointestinal diseases.
How Does PROG Make Money?
- Develops and patents novel drug delivery technologies.
- Conducts clinical trials to demonstrate the safety and efficacy of its products.
- Seeks regulatory approval from the FDA for its therapeutic products.
- Partners with pharmaceutical companies for commercialization and distribution.
What Industry Does PROG Operate In?
Biora Therapeutics operates in the competitive biotechnology industry, which is characterized by high R&D costs, lengthy regulatory approval processes, and intense competition. The market for oral biotherapeutics is growing, driven by the demand for more convenient and patient-friendly drug delivery methods. Biora's focus on targeted oral delivery systems positions it to capitalize on this trend. Competitors include established pharmaceutical companies and other biotech firms developing novel drug delivery technologies. Success in this industry requires strong intellectual property, successful clinical trials, and strategic partnerships.
Who Are PROG's Key Customers?
- Patients with inflammatory bowel diseases (IBD) such as ulcerative colitis.
- Patients with Type 2 diabetes.
- Pharmaceutical companies seeking innovative drug delivery technologies.
- Healthcare providers and diagnostic laboratories.
Company Profile
Biora Therapeutics, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in San Diego, US. The company is led by CEO Harry Stylli. PROG has traded publicly since 2020.
How Biora Therapeutics, Inc. Is Valued
Biora Therapeutics, Inc. carries a market capitalization of $8.18M, placing it in the micro-cap category. Relative to its peer group, PROG's quantitative score of 51/100 is below the peer average of 82/100.
ROE 122%Key Financial Metrics
Return on equity for Biora Therapeutics, Inc. stands at 121.9%, a gauge of how efficiently it converts shareholder capital into profit. A current ratio of 0.30 means current liabilities exceed short-term assets, a liquidity point worth watching.
F-Score 4/9Financial Health
Biora Therapeutics, Inc.'s Piotroski F-Score is 4/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of -19.81 places it in the distress zone, a signal of elevated financial risk.
PROG Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in Biora's future, indicating that those closest to the company believe in its potential.
- Community sentiment has shifted positively, with discussions highlighting the innovative nature of Biora's therapeutic solutions.
- Recent partnerships and collaborations have generated excitement, suggesting that Biora is making strategic moves to enhance its market position.
- Increased media coverage has raised awareness about Biora's unique offerings, fostering a more favorable perception among investors.
Bear Case
- Concerns about the competitive landscape have emerged, as similar companies are rapidly advancing their own therapeutic developments.
- Social media sentiment has shown skepticism regarding Biora's ability to deliver on its promises, reflecting a cautious outlook among some investors.
- Recent regulatory challenges have raised questions about the timeline for product approvals, creating uncertainty around Biora's future prospects.
- Market perception remains mixed, with some analysts expressing doubts about the scalability of Biora's technologies compared to established players.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
PROG Latest News
No recent news available for PROG.
PROG Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for PROG.
Price Targets
Wall Street price target analysis for PROG.
PROG MoonshotScore
What does this score mean?
The MoonshotScore rates PROG's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Harry Stylli
CEO
Harry Stylli serves as the CEO of Biora Therapeutics, bringing extensive experience in the biotechnology and pharmaceutical industries. His background includes leadership roles in various companies focused on drug delivery and diagnostics. Stylli's expertise spans strategic planning, business development, and product commercialization. He has a proven track record of driving innovation and growth in the healthcare sector. Stylli's leadership is crucial for guiding Biora Therapeutics through its clinical development and commercialization efforts.
Track Record: Under Harry Stylli's leadership, Biora Therapeutics has focused on advancing its oral drug delivery platform and smart capsule technology. Key achievements include securing partnerships with pharmaceutical companies and progressing clinical trials for its lead therapeutic candidates. Stylli has overseen the company's strategic shift towards targeted therapies for gastrointestinal diseases, positioning Biora as an innovator in the biotechnology space.
Common Questions About PROG (Healthcare)
What does Biora Therapeutics, Inc. do?
Biora Therapeutics, Inc. is a biotechnology company focused on developing innovative solutions for gastrointestinal diseases. The company's primary focus is on oral delivery of biotherapeutics, aiming to replace traditional injectable drugs with more patient-friendly oral formulations. Their pipeline includes PGN-600 and PGN-001, oral formulations for ulcerative colitis, as well as systemic oral delivery systems for inflammatory conditions and Type 2 diabetes. Additionally, Biora is developing ingestible smart capsules for targeted GI sampling and diagnostics, positioning them as a key player in advancing GI healthcare.
What do analysts say about PROG stock?
Analyst coverage of Biora Therapeutics (PROG) is limited, reflecting its micro-cap status and early stage of development. Existing analyses typically highlight the company's innovative drug delivery technology and potential for growth in the oral biotherapeutics market. However, the company's financial risks, including its negative profit margin and dependence on future funding, are also noted. Investors should conduct thorough due diligence and consider the high-risk, high-reward nature of this investment. Analyst price targets and ratings vary, but generally reflect cautious optimism based on clinical trial progress and partnership opportunities. No buy/sell recommendations are made.
What are the main risks for PROG?
Biora Therapeutics faces several key risks inherent to the biotechnology industry. Clinical trial failures for its lead therapeutic candidates, PGN-600 and PGN-001, pose a significant threat. Regulatory hurdles and potential delays in FDA approval could also impact the company's timeline and valuation. Competition from larger pharmaceutical companies with established IBD therapies is another major risk. Furthermore, Biora's financial stability is dependent on securing additional funding, and any difficulties in raising capital could hinder its operations and development efforts. Intellectual property disputes and patent infringement claims also represent potential risks to the company's long-term success.
What are the key factors to evaluate for PROG?
Biora Therapeutics, Inc. (PROG) holds an AI score of 51/100 (moderate). Not financial advice.
How frequently does PROG data refresh on this page?
PROG prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven PROG's recent stock price performance?
Biora Therapeutics, Inc. (PROG) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Innovative oral drug delivery technology. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider PROG overvalued or undervalued right now?
Valuing Biora Therapeutics, Inc. (PROG) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying PROG?
Before investing in Biora Therapeutics, Inc. (PROG), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- Financial metrics are based on the most recent filings.
- Clinical trial timelines are estimates and may vary.