NASDAQ: KYTX - Kyverna Therapeutics, Inc.

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = -3.33
CAGR EPS = 50.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 11.19 + (11.19 * 50.66% / 100) = 16.85

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = -0.8441
Ebitda Yield = 0.4271
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.000142
Debt = 0.0082
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0082) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.39
β = 4.07
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 4.07 * 5.94 + 0 = 0.2657
WACC = (0.000142 / 0.0082) * (100% - 0) * (1 - 0.21) + 0.2657 + 0 = 1.36
Terminal Value = Discount (-0.8441 * (1 + 0.4271) / (1.36 - 0.4271)) = -2.72
Company Value = ∑ (-0.8441 / (1 + 1.36) ^ 5) = -2.23
Price = (Terminal Value + Company Value) / Count shares = (-2.72 + -2.23) / 38330000 = -129.24

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -0.615
FCF Yield = 0.3949
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.000142
Debt = 0.0082
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0082) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.39
β = 4.07
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 4.07 * 5.94 + 0 = 0.2657
WACC = (0.000142 / 0.0082) * (100% - 0) * (1 - 0.21) + 0.2657 + 0 = 1.36
Terminal Value = Discount (-0.615 * (1 + 0.3949) / (1.36 - 0.3949)) = -2.1
Company Value = ∑ (-0.615 / (1 + 1.36) ^ 5) = -1.68
Price = (Terminal Value + Company Value) / Count shares = (-2.1 + -1.68) / 38330000 = -98.6