enVVeno Medical Corporation Common Stock (NVNO)

FairStock Score: 68/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I look first for a durable business earning predictable profits. enVVeno fails that test today. It is a 33-employee medical-device developer with no reported revenue in fiscal Q2 2026 (quarter ended 2026-06-30), fiscal Q1 2026 (quarter ended 2026-03-31), or fiscal year 2025 (period ended 2025-12-31). Filed net losses were $3.6 million in fiscal Q2 2026, $3.8 million in fiscal Q1 2026, and $19.5 million in fiscal year 2025. The trailing free cash flow is negative $14.6 million, which against a $5.4 million market cap at the 2026-10-13 close gives a FairStock FCF yield of negative 268.7%. That means the company burns cash faster than its entire equity value in a year. The balance sheet shows low debt (D/E 0.02), so solvency risk is more about cash runway than leverage. But FairStock's Piotroski score is 2/9 and its Altman Z-score is -8.34, both pointing to financial fragility. Valuation: FairStock's P/B is 0.26 and P/E is negative at -0.32, but those are not comforting for a pre-revenue company. Book value can evaporate with continued losses. The Lynch screen finds no category because losses occurred in each of the last four years. The only positive is that losses narrowed from $21.8 million in fiscal year 2024 (period ended 2024-12-31) to $19.5 million in fiscal year 2025 (period ended 2025-12-31), and the fiscal Q2 2026 loss of $3.6 million was smaller than the fiscal Q2 2025 (quarter ended 2025-06-30) loss of $6.7 million. Still, without revenue, approval, or commercial adoption, there is no margin of safety in the Graham sense. I would require proof of regulatory and commercial viability before calling this an investment rather than a speculative clinical option.

In plain English: enVVeno Medical is a small medical-device company working on a replacement vein valve; it has 33 employees and no reported revenue. The business looks weak today because it loses money, has posted losses in each of the last four years, and burns cash faster than its entire market value each year. The share price looks low compared with the company’s accounting value, but that cheapness comes with very high risk because there are no sales yet and losses continue.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer