HRTX — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($1.20)
DCF	$-3.24	-369.8%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$28.46M

Near-term growth (yrs 1–5)(%)Rev: -0.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.98%

Computed WACC: 6.98%

Cost of equity (Re)11.44%(Rf 4.30% + β 1.30 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)61.01%

Debt weight (D/V)38.99%

Results

Intrinsic Value / share$-4.48

Current Price$1.20

Upside / Downside-473.5%

Net Debt (used)$94.01M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-3.26	$-3.82	$-4.46	$-5.21	$-6.07
8.0%	$-2.77	$-3.22	$-3.74	$-4.34	$-5.03
9.0%	$-2.43	$-2.81	$-3.24	$-3.74	$-4.31
10.0%	$-2.18	$-2.50	$-2.87	$-3.29	$-3.78
11.0%	$-1.99	$-2.27	$-2.59	$-2.96	$-3.38

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $-0.09

Book Value / share($)Yahoo: $0.07

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$1.20

Margin of Safety—

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.98%

Terminal growth rate(%)

Computed WACC: 6.98%

Cost of equity (Re)11.44%(Rf 4.30% + β 1.30 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)61.01%

Debt weight (D/V)38.99%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$1.20

Implied Near-term FCF Growth—

Historical Revenue Growth-0.5%

Historical Earnings Growth—

Base FCF (TTM)-$28.46M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$1.20

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$224,000

Target EV/EBITDA multipleCurrent: -1434.4×

Net Debt($B)Default: $94.01M

Results

Implied Equity Value / share$1.24

Current Price$1.20

Upside / Downside+3.3%

Implied EV$321.30M

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