Valion Bio, Inc. (VBIO), formerly known as Tivic Health Systems, Inc., completed a significant corporate transformation in April 2026. Headquartered in San Antonio, Texas, the company operates as a late-stage biopharmaceutical entity specializing in the advancement of biologics that activate innate immune pathways. The company's primary asset, Entolimod, is a ...Valion Bio, Inc. (VBIO), formerly known as Tivic Health Systems, Inc., completed a significant corporate transformation in April 2026. Headquartered in San Antonio, Texas, the company operates as a late-stage biopharmaceutical entity specializing in the advancement of biologics that activate innate immune pathways. The company's primary asset, Entolimod, is a TLR5 agonist currently in late-stage development for the treatment of acute radiation syndrome. Beyond its radioprotection focus, Valion Bio is actively researching the application of Entolimod for the treatment of Neutropenia and lymphocyte exhaustion. Furthermore, the company is developing Entolasta, an immunologically optimized variant of Entolimod designed for chronic applications, such as addressing immunosenescence. The company leverages its facility in San Antonio to maintain close ties with the local DoD biodefense ecosystem. Beyond drug development, Valion Bio offers Contract Development and Manufacturing Organization (CDMO) services, positioning itself as both a product developer and a service provider in the healthcare sector. Financially, the company operates with a lean structure, reporting 52 employees and a market capitalization of approximately $915,436 as of the most recent reporting. The firm is currently in a capital-intensive phase, with significant historical investment totaling over $140 million. Management, led by CEO Michael K. Handley, is focused on the successful clinical progression of its pipeline assets. Key risks for the company include its current negative profit margins and the inherent uncertainty of late-stage clinical trials. Despite these challenges, the strategic pivot from medical device manufacturing to biopharmaceutical development underscores a commitment to high-value therapeutic markets. Valion Bio's business model relies on the eventual commercialization of its proprietary agonist platforms, aiming to provide solutions for both acute medical emergencies and chronic age-related immune decline. Investors should note the company's limited historical data under the new corporate identity and its current stage in the drug development life cycle.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$0
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Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-8.9M
-57.0%
-14.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
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Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
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Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
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Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-7.0M
-22.9%
-226.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
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Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
38.4%
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-25.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
20.13x
+107.5%
+48.1%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
