CRVO · CervoMed Inc.
CervoMed Inc., a clinical-stage biotechnology company, engages in the development and commercialization of treatments for age-related neurologic disorders. The company is developing neflamapimod, an orally administered small molecule drug that crosses the bloodbrain barrier and inhibits the enzyme p38a. Neflamapimod has the potential to reverse synaptic dysfunction, improve neuron health, and slow or prevent disease progression. Neflamapimod is currently in clinical development for the treatment of dementia with Lewy bodies, non-fluent variant primary progressive aphasia, amyotrophic lateral sclerosis, and amyotrophic lateral sclerosis. CervoMed Inc. was founded in 2010 and is headquartered in Boston, Massachusetts.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $2.96 |
| SO | 9.3M |
| Options | 1.3M |
| Warrants | 2.6M |
| FD SO | 13.1M |
| MC | $38.8M |
| Cash | $7.9M |
| Total debt | — |
| EV | $30.9M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 14.8x |
| EV / EBITDA | — |
| MC / Net Income | — |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 19.1% |
| Insiders | 29.5% |
| # Institutions | 43 |
| Analysts | 6 |
| Consensus | Strong Buy |
| Avg target | $19.50 |
| Short % float | 12.7% |
| Days to cover | 0.05 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-06. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.
Financial statements
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Total Revenue | 0.00 | 0.01 | 0.32 | 1.76 |
| Revenue YoY % | (100.0%) | (99.6%) | (83.4%) | (46.6%) |
| SG&A | 2.98 | 2.51 | 2.33 | 3.27 |
| R&D | 5.14 | 5.83 | 6.04 | 5.11 |
| Operating Income | (8.11) | (8.33) | (8.04) | (6.62) |
| Operating Income YoY % | (52.9%) | (15.1%) | (49.1%) | (120.9%) |
| Operating Margin % | — | (95479.2%) | (2493.8%) | (376.4%) |
| Pretax Income | (7.96) | (8.09) | (7.73) | (6.26) |
| Net Income | (7.96) | (8.09) | (7.73) | (6.26) |
| Net Margin % | — | (92722.0%) | (2395.3%) | (356.1%) |
| Basic EPS | -$0.86 | -$0.88 | -$0.84 | -$0.70 |
| Basic Avg Shares | 9.3 | — | 9.3 | 9.0 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 2.09 | 4.01 | 9.74 | 7.14 | 0.00 |
| Revenue YoY % | (47.9%) | (58.9%) | 36.3% | — | — |
| SG&A | 11.08 | 10.48 | 9.17 | 6.52 | 2.14 |
| R&D | 22.11 | 21.82 | 18.80 | 8.44 | 1.34 |
| Operating Income | (31.10) | (28.29) | (18.23) | (7.81) | (3.48) |
| Operating Income YoY % | (9.9%) | (55.2%) | (133.3%) | (124.8%) | — |
| Operating Margin % | (1488.9%) | (706.2%) | (187.2%) | (109.3%) | — |
| EBITDA | — | — | — | — | (3.48) |
| Interest Expense | — | — | — | 0.00 | 0.00 |
| Other Income / (Expense) | 1.06 | 1.32 | 1.94 | 5.64 | (2.33) |
| Pretax Income | (30.04) | (26.97) | (16.29) | (2.17) | (5.80) |
| Tax Provision | — | 0.00 | — | — | 0.00 |
| Net Income | (30.04) | (26.97) | (16.29) | (2.17) | (5.80) |
| Net Margin % | (1438.0%) | (673.2%) | (167.3%) | (30.4%) | — |
| Diluted EPS | — | — | — | — | $2038891.00 |
| Basic EPS | -$3.28 | -$2.98 | -$2.02 | -$0.82 | -$11.20 |
| Basic Avg Shares | 9.3 | 9.0 | 8.1 | 2.7 | 0.5 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 7.94 | 8.24 | 9.44 | 8.32 |
| Short-term Investments | 4.98 | 12.63 | 17.86 | 25.21 |
| Other Current Assets | 2.19 | 2.01 | 3.32 | 4.55 |
| Total Current Assets | 15.11 | 22.88 | 30.61 | 38.08 |
| Total Assets | 15.11 | 22.88 | 30.61 | 38.08 |
| Accounts Payable | 2.27 | 1.45 | 1.35 | 1.85 |
| Other Current Liabilities | — | 3.20 | — | — |
| Total Current Liabilities | — | 4.66 | — | — |
| Other Liabilities | 2.22 | — | 3.25 | 2.80 |
| Total Liabilities | 4.50 | 4.66 | 4.60 | 4.64 |
| Retained Earnings | (105.66) | (97.70) | (89.61) | (81.88) |
| Total Equity | 10.62 | 18.22 | 26.01 | 33.44 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 7.94 | 8.24 | 9.00 | 7.79 | 4.09 |
| Short-term Investments | 4.98 | 12.63 | 29.92 | 0.00 | — |
| Other Current Assets | 2.19 | 2.01 | 4.16 | 2.17 | — |
| Total Current Assets | 15.11 | 22.88 | 43.08 | 9.96 | 4.16 |
| Long-term Investments | — | — | — | 0.00 | — |
| Total Assets | 15.11 | 22.88 | 43.08 | 9.97 | 4.16 |
| Accounts Payable | 2.27 | 1.45 | 1.51 | 0.66 | 0.10 |
| Other Current Liabilities | — | 3.20 | 2.37 | — | — |
| Total Current Liabilities | — | 4.66 | 3.88 | — | — |
| Other Liabilities | 2.22 | — | — | 1.93 | 13.06 |
| Total Liabilities | 4.50 | 4.66 | 3.88 | 2.60 | 13.16 |
| Mezzanine Equity | — | — | — | 0.00 | 24.29 |
| Retained Earnings | (105.66) | (97.70) | (70.73) | (54.44) | (52.27) |
| Total Equity | 10.62 | 18.22 | 39.20 | 7.38 | (33.29) |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Net Income | (7.96) | (8.09) | (7.73) | (6.26) |
| Stock-Based Comp | 0.35 | 0.30 | 0.29 | 0.50 |
| Δ Working Cap & Other | (0.40) | 1.22 | 0.97 | (0.75) |
| Operating Cash Flow | (8.02) | (6.58) | (6.47) | (6.51) |
| Other Investing | 7.71 | 5.37 | 7.58 | — |
| Investing Cash Flow | 7.71 | 5.37 | 7.58 | (0.25) |
| Other Financing | — | — | — | 4.59 |
| Financing Cash Flow | 0.01 | 0.00 | 0.00 | 4.59 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | (30.04) | (26.97) | (16.29) | (2.17) | (5.80) |
| D&A | — | — | — | — | 0.00 |
| Stock-Based Comp | 1.44 | 1.45 | 1.41 | 0.41 | 0.33 |
| Δ Working Cap & Other | 1.03 | 2.07 | (1.65) | (5.69) | 2.90 |
| Operating Cash Flow | (27.57) | (23.45) | (16.53) | (7.45) | (2.57) |
| Other Investing | 20.41 | 18.10 | (28.66) | — | (12.24) |
| Investing Cash Flow | 20.41 | 18.10 | (28.66) | 0.00 | (12.24) |
| Stock Issuance | — | — | 46.40 | 0.81 | 0.00 |
| Other Financing | 4.60 | 4.59 | — | 10.34 | — |
| Financing Cash Flow | 4.60 | 4.59 | 46.40 | 11.15 | 0.00 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Current Ratio | — | 4.91 | — | — |
| Quick Ratio | — | — | — | — |
| Debt / Equity | 0.42 | 0.26 | 0.18 | 0.14 |
| EBITDA Margin % | — | — | — | — |
| Working Capital | — | 18.22 | — | — |
| Net Debt | — | — | — | — |
| ROE % | (75.0%) | (44.4%) | (29.7%) | (18.7%) |
| ROA % | (52.7%) | (35.4%) | (25.2%) | (16.4%) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | — | 4.91 | 11.11 | — | — |
| Quick Ratio | — | — | — | — | — |
| Debt / Equity | 0.42 | 0.26 | 0.10 | 0.35 | -0.40 |
| EBITDA Margin % | — | — | — | — | — |
| Working Capital | — | 18.22 | 39.20 | — | — |
| Net Debt | — | — | — | — | — |
| ROE % | (283.0%) | (148.0%) | (41.6%) | (29.4%) | 17.4% |
| ROA % | (198.8%) | (117.9%) | (37.8%) | (21.8%) | (139.6%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-06-15 | BOGER JOSHUA S | Director, 10% Owner | 2026-06-11 | P | 955,414 | $3.14 | $3,000,000 |
| 2026-06-15 | BOGER JOSHUA S | Director, 10% Owner | 2026-06-11 | P | 955,414 | — | $0 |
| 2026-06-15 | BOGER JOSHUA S | Director, 10% Owner | 2026-06-11 | P | 955,414 | — | $0 |
| 2026-06-10 | ZAVRL FRANK | Director | 2026-06-08 | A | 8,150 | — | $0 |
| 2026-06-10 | Sabbagh Marwan | Director | 2026-06-08 | A | 8,150 | — | $0 |
| 2026-06-10 | Quigley David | Director | 2026-06-08 | A | 8,150 | — | $0 |
| 2026-06-10 | Poulton Jeffrey V. | Director | 2026-06-08 | A | 8,150 | — | $0 |
| 2026-06-10 | Hollingsworth Jane H | Director | 2026-06-08 | A | 8,150 | — | $0 |
| 2026-06-10 | Gregoire Sylvie | Director, 10% Owner | 2026-06-08 | A | 8,150 | — | $0 |
| 2026-06-10 | BOGER JOSHUA S | Director, 10% Owner | 2026-06-08 | A | 8,150 | — | $0 |
| 2026-06-10 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2026-06-08 | A | 8,150 | — | $0 |
| 2026-02-13 | Winton Matthew | Officer (Chief Commercial and Business) | 2026-02-11 | A | 30,000 | — | $0 |
| 2026-02-13 | Gregoire Sylvie | Director, 10% Owner | 2026-02-11 | A | 75,000 | — | $0 |
| 2026-02-13 | ELDER WILLIAM ROBERT | Officer (CFO, GC & Secretary) | 2026-02-11 | A | 30,000 | — | $0 |
| 2026-02-13 | De Rosch Mark | Officer (EVP, RA and GA and PgM) | 2026-02-11 | A | 30,000 | — | $0 |
| 2026-02-13 | Blackburn Kelly | Officer (EVP, Clinical Development) | 2026-02-11 | A | 30,000 | — | $0 |
| 2026-02-13 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2026-02-11 | A | 75,000 | — | $0 |
| 2025-12-05 | Quigley David | Director | 2025-10-27 | A | 16,200 | — | $0 |
| 2025-11-19 | Winton Matthew | Officer (Chief Commercial and Business) | 2025-11-18 | P | 1,500 | $7.95 | $11,925 |
| 2025-11-19 | ELDER WILLIAM ROBERT | Officer (CFO, GC & Secretary) | 2025-11-18 | P | 2,500 | $8.32 | $20,800 |
| 2025-11-19 | Winton Matthew | Officer (Chief Commercial and Business) | 2025-11-17 | P | 3,500 | $8.43 | $29,505 |
| 2025-11-19 | Gregoire Sylvie | Director, 10% Owner | 2025-11-17 | P | 10,793 | $8.46 | $91,309 |
| 2025-11-19 | Gregoire Sylvie | Director, 10% Owner | 2025-11-17 | P | 10,807 | $8.46 | $91,427 |
| 2025-11-19 | ELDER WILLIAM ROBERT | Officer (CFO, GC & Secretary) | 2025-11-17 | P | 1,000 | $8.45 | $8,450 |
| 2025-11-19 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2025-11-17 | P | 10,807 | $8.46 | $91,427 |
| 2025-11-19 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2025-11-17 | P | 10,793 | $8.46 | $91,309 |
| 2025-11-17 | Gregoire Sylvie | Director, 10% Owner | 2025-11-14 | P | 1,707 | $7.57 | $12,922 |
| 2025-11-17 | Gregoire Sylvie | Director, 10% Owner | 2025-11-14 | P | 1,693 | $7.55 | $12,782 |
| 2025-11-17 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2025-11-14 | P | 1,693 | $7.55 | $12,782 |
| 2025-11-17 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2025-11-14 | P | 1,707 | $7.57 | $12,922 |
| 2025-11-17 | Winton Matthew | Officer (Chief Commercial and Business) | 2025-11-14 | P | 10,000 | $7.57 | $75,700 |
| 2025-11-17 | Gregoire Sylvie | Director, 10% Owner | 2025-11-13 | P | 4,447 | $7.51 | $33,397 |
| 2025-11-17 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2025-11-13 | P | 4,447 | $7.51 | $33,397 |
| 2025-11-13 | Gregoire Sylvie | Director, 10% Owner | 2025-11-12 | P | 5,553 | $7.35 | $40,815 |
| 2025-11-13 | ELDER WILLIAM ROBERT | Officer (CFO, GC & Secretary) | 2025-11-12 | P | 3,500 | $7.44 | $26,040 |
| 2025-11-13 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2025-11-12 | P | 5,553 | $7.35 | $40,815 |
| 2025-10-08 | Winton Matthew | Officer (Chief Commercial and Business) | 2025-10-06 | A | 75,000 | — | $0 |
| 2025-06-25 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2025-06-23 | A | 8,100 | — | $0 |
| 2025-06-25 | ZAVRL FRANK | Director | 2025-06-23 | A | 8,100 | — | $0 |
| 2025-06-25 | BOGER JOSHUA S | Director, 10% Owner | 2025-06-23 | A | 8,100 | — | $0 |
| 2025-06-25 | Sabbagh Marwan | Director | 2025-06-23 | A | 8,100 | — | $0 |
| 2025-06-25 | Poulton Jeffrey V. | Director | 2025-06-23 | A | 8,100 | — | $0 |
| 2025-06-25 | Hollingsworth Jane H | Director | 2025-06-23 | A | 8,100 | — | $0 |
| 2025-06-25 | Gregoire Sylvie | Director, 10% Owner | 2025-06-23 | A | 8,100 | — | $0 |
| 2025-05-14 | ELDER WILLIAM ROBERT | Officer (CFO, GC & Secretary) | 2025-05-14 | P | 4,233 | $8.46 | $35,811 |
| 2025-02-14 | Gregoire Sylvie | Director, 10% Owner | 2025-02-04 | A | 60,000 | — | $0 |
| 2025-02-14 | ELDER WILLIAM ROBERT | Officer (CFO & GC) | 2025-02-04 | A | 27,000 | — | $0 |
| 2025-02-14 | Cobuzzi Robert Joseph Jr. | Officer (Chief Operating Officer) | 2025-02-04 | A | 27,000 | — | $0 |
| 2025-02-14 | Blackburn Kelly | Officer (SVP, Clinical Development) | 2025-02-04 | A | 27,000 | — | $0 |
| 2025-02-14 | ALAM JOHN J | Director, Officer (CEO & President), 10% Owner | 2025-02-04 | A | 60,000 | — | $0 |
| 2024-08-27 | ELDER WILLIAM ROBERT | Officer (CFO & GC) | 2024-08-27 | P | 1,000 | $18.16 | $18,160 |