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Liminal BioSciences

Nasdaq:LMNL
Snowflake Description

Adequate balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LMNL
Nasdaq
CA$205M
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Liminal BioSciences Inc. operates as a biopharmaceutical company with two drug discovery platforms that focuses on unmet medical needs. The last earnings update was 8 days ago. More info.


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LMNL Share Price and Events
7 Day Returns
7%
NasdaqGM:LMNL
5.2%
US Biotechs
10.5%
US Market
1 Year Returns
-96.9%
NasdaqGM:LMNL
0%
US Biotechs
-11.5%
US Market
LMNL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Liminal BioSciences (LMNL) 7% -20.2% -26.7% -96.9% -99.6% -99.7%
US Biotechs 5.2% -6.5% -8.7% 0% 6.2% -10.4%
US Market 10.5% -15.4% -21.4% -11.5% 5.4% 18.1%
1 Year Return vs Industry and Market
  • LMNL underperformed the Biotechs industry which returned 0% over the past year.
  • LMNL underperformed the Market in United States of America which returned -11.5% over the past year.
Price Volatility
LMNL
Industry
5yr Volatility vs Market

Value

 Is Liminal BioSciences undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Liminal BioSciences. This is due to cash flow or dividend data being unavailable. The share price is $6.85.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Liminal BioSciences's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Liminal BioSciences's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:LMNL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$-14.52
TSX:LMNL Share Price ** TSX (2020-03-27) in CAD CA$9.48
United States of America Biotechs Industry PE Ratio Median Figure of 37 Publicly-Listed Biotechs Companies 15.4x
United States of America Market PE Ratio Median Figure of 2,939 Publicly-Listed Companies 12.96x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Liminal BioSciences.

NasdaqGM:LMNL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:LMNL Share Price ÷ EPS (both in CAD)

= 9.48 ÷ -14.52

-0.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liminal BioSciences is loss making, we can't compare its value to the US Biotechs industry average.
  • Liminal BioSciences is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Liminal BioSciences's expected growth come at a high price?
Raw Data
NasdaqGM:LMNL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
United States of America Biotechs Industry PEG Ratio Median Figure of 34 Publicly-Listed Biotechs Companies 0.96x
United States of America Market PEG Ratio Median Figure of 2,005 Publicly-Listed Companies 1x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Liminal BioSciences, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Liminal BioSciences's assets?
Raw Data
NasdaqGM:LMNL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$4.38
TSX:LMNL Share Price * TSX (2020-03-27) in CAD CA$9.48
United States of America Biotechs Industry PB Ratio Median Figure of 429 Publicly-Listed Biotechs Companies 2.53x
United States of America Market PB Ratio Median Figure of 5,148 Publicly-Listed Companies 1.26x
NasdaqGM:LMNL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:LMNL Share Price ÷ Book Value per Share (both in CAD)

= 9.48 ÷ 4.38

2.16x

* Primary Listing of Liminal BioSciences.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liminal BioSciences is good value based on assets compared to the US Biotechs industry average.
X
Value checks
We assess Liminal BioSciences's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Liminal BioSciences has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Liminal BioSciences expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Liminal BioSciences has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18.6%
Expected Biotechs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Liminal BioSciences expected to grow at an attractive rate?
  • Unable to compare Liminal BioSciences's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Liminal BioSciences's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Liminal BioSciences's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:LMNL Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 18.6%
United States of America Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 15.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:LMNL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:LMNL Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-03-28
NasdaqGM:LMNL Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 5 -99 -233
2019-09-30 33 -89 -294
2019-06-30 40 -84 -293
2019-03-31 51 -68 -192
2018-12-31 25 -82 -197
2018-09-30 43 -85 -131
2018-06-30 55 -105 -118
2018-03-31 39 -120 -115
2017-12-31 22 -123 -112
2017-09-30 37 -129 -109
2017-06-30 16 -118 -119
2017-03-31 16 -114 -112

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Liminal BioSciences is high growth as no earnings estimate data is available.
  • Unable to determine if Liminal BioSciences is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:LMNL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Liminal BioSciences Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:LMNL Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-03-28
NasdaqGM:LMNL Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 -14.52
2019-09-30 -28.32
2019-06-30 -63.06
2019-03-31 -265.75
2018-12-31 -238.28
2018-09-30 -183.03
2018-06-30 -153.59
2018-03-31 -164.56
2017-12-31 -140.26
2017-09-30 -164.66
2017-06-30 -186.94
2017-03-31 -181.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Liminal BioSciences will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Liminal BioSciences's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Liminal BioSciences's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Pharmaceuticals & Biotech companies here
  3. Liminal BioSciences's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Liminal BioSciences's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Liminal BioSciences has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Liminal BioSciences performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Liminal BioSciences's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Liminal BioSciences does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Liminal BioSciences's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Liminal BioSciences's 1-year growth to the US Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Liminal BioSciences's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Liminal BioSciences Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:LMNL Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4.90 -233.18 45.28
2019-09-30 32.87 -294.31 47.22
2019-06-30 39.91 -293.18 43.12
2019-03-31 51.32 -191.83 31.47
2018-12-31 24.63 -197.30 29.45
2018-09-30 43.37 -130.69 50.14
2018-06-30 55.08 -117.76 51.57
2018-03-31 38.54 -115.01 52.69
2017-12-31 22.31 -111.65 50.05
2017-09-30 36.63 -108.76 32.47
2017-06-30 16.33 -118.79 31.29
2017-03-31 16.01 -111.63 28.42
2016-12-31 16.39 -100.81 26.30
2016-09-30 26.35 -74.17 21.82
2016-06-30 28.27 -57.83 19.47
2016-03-31 27.87 -47.76 18.05
2015-12-31 24.53 -50.96 16.58
2015-09-30 21.01 -31.07 15.09
2015-06-30 17.67 -41.12 14.15
2015-03-31 19.18 -4.88 13.37
2014-12-31 23.01 5.94 12.15
2014-09-30 17.54 -10.29 12.06
2014-06-30 21.19 3.73 10.85
2014-03-31 21.94 -22.68 8.96
2013-12-31 20.64 -16.49 8.33
2013-09-30 23.89 -8.30 6.49
2013-06-30 25.60 -0.58 5.76
2013-03-31 26.71 2.67 5.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Liminal BioSciences has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Liminal BioSciences has efficiently used its assets last year compared to the US Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Liminal BioSciences improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Liminal BioSciences's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Liminal BioSciences has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Liminal BioSciences's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Liminal BioSciences's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Liminal BioSciences is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Liminal BioSciences's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Liminal BioSciences's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 10.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Liminal BioSciences Company Filings, last reported 2 months ago.

NasdaqGM:LMNL Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 94.93 8.83 61.29
2019-09-30 106.69 9.02 60.36
2019-06-30 134.31 9.13 81.00
2019-03-31 -84.06 146.24 9.06
2018-12-31 -63.15 125.80 7.39
2018-09-30 63.99 152.68 21.35
2018-06-30 89.88 126.20 11.82
2018-03-31 120.86 110.02 13.87
2017-12-31 143.43 87.02 23.17
2017-09-30 172.61 65.12 29.06
2017-06-30 129.60 67.54 14.29
2017-03-31 152.73 48.40 20.12
2016-12-31 159.34 48.12 38.87
2016-09-30 148.94 41.61 39.00
2016-06-30 176.39 40.32 64.33
2016-03-31 137.89 42.23 34.45
2015-12-31 145.33 22.00 29.29
2015-09-30 156.38 21.45 42.48
2015-06-30 166.61 20.91 56.66
2015-03-31 93.06 22.46 20.49
2014-12-31 104.43 23.24 27.10
2014-09-30 42.40 22.29 10.38
2014-06-30 56.34 10.10 2.04
2014-03-31 10.90 9.71 10.31
2013-12-31 18.64 9.26 17.40
2013-09-30 0.61 9.36 8.03
2013-06-30 4.58 4.38 5.74
2013-03-31 6.26 4.53 7.55
  • Liminal BioSciences's level of debt (9.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (21.9% vs 9.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Liminal BioSciences has less than a year of cash runway based on current free cash flow.
  • Liminal BioSciences has less than a year of cash runway if free cash flow continues to grow at historical rates of 18.6% each year.
X
Financial health checks
We assess Liminal BioSciences's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Liminal BioSciences has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Liminal BioSciences's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Liminal BioSciences dividends.
If you bought $2,000 of Liminal BioSciences shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Liminal BioSciences's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Liminal BioSciences's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:LMNL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1949 Stocks 3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:LMNL Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-03-28

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Liminal BioSciences has not reported any payouts.
  • Unable to verify if Liminal BioSciences's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Liminal BioSciences's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Liminal BioSciences has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Liminal BioSciences's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Liminal BioSciences afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Liminal BioSciences has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Liminal BioSciences's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ken Galbraith
COMPENSATION CA$12,613,069
AGE 56
TENURE AS CEO 0.9 years
CEO Bio

Mr. Kenneth H. Galbraith, also known as Ken, C.A. founded Five Corners Capital Inc. in September 2013 and served as its Managing Director since September 2013. Mr. Galbraith serves as Chief Executive Officer of Prometic Life Sciences Inc. since April 23, 2019. He has been a General Partner at Ventures West Management Inc. since February 2007 until December 2013. He joined Ventures West Management in 2007 as a Venture Partner. He leads Ventures West Management's biotech practice and is involved in identifying and evaluating investment opportunities, with a focus on life sciences companies. He is a well-known and active member of the North American life sciences community with over 25 years of experience acting as an executive, director, investor and advisor to companies in the biotechnology, medical device, pharmaceutical and healthcare sectors. Prior to joining Ventures West in 2006, he was the Interim Chief Executive Officer and Chairman at AnorMed Inc. since April 21, 2006. He also served as a General Partner at Ventures West Capital Ltd. Prior to that, he was the President at Gigha Consulting Ltd. Previously, he worked at QLT Inc. (now Novelion Therapeutics Inc.), where he progressed to the position of Executive Vice President and Chief Financial Officer during his 13-year tenure which he joined in 1987 and retired in 2000. He served as the Chairman of Presidio Pharmaceuticals, Inc. He served as the Chairman at TRACON Pharmaceuticals, Inc. from December 6, 2011 to May 2014. He served as Chairman of Active Pass Pharmaceuticals Inc. He was the Chairman and Founding Director of B.C. Biotechnology Alliance. He has been a Director of MacroGenics, Inc. since July 2008 and ProMetic Life Sciences Inc. since August 10, 2016. He has been a Director at Profound Medical Corp. since January 17, 2017. He serves as a Director of AudienceView Ticketing Corporation, Augurex, Genome British Columbia and NeurAxon Inc. He served as an Independent Director of Aquinox Pharmaceuticals, Inc. and Alder Biopharmaceuticals Inc. He served as an Independent Director of Arbutus Biopharma Corporation from January 28, 2010 to August 22, 2014. He served as a Director of Neuro Discovery Inc. since November 2001 and Presidio Pharmaceuticals, Inc. since August 29, 2007. He served as a Director of Celator Pharmaceuticals, Inc. from 2008 to October 2, 2013. He served as Director of Tekmira (TKMR). He served as a Director of TRACON Pharmaceuticals, Inc. until May 2014, Nventa Biopharmaceuticals Corporation since May 2000, Migenix Inc. until September 8, 2004, Allon Therapeutics, Inc. since 2001, Cardiome Pharma Corp., since May 12, 2003, AnorMed Inc. since April 21, 2006 and served as a Director of Angiotech Pharmaceuticals Inc., since March 2000. He served as a Director of Kinetek Pharmaceuticals, Inc. since October 2000, Metro Vancouver Properties Corp. until September 18, 2004, Active Pass Pharmaceuticals, Inc. since October 1999. He served as a Director of Zymeworks Inc. since June 2009. He was a Founding Director of BIRC Corporation. He served as the Chair of the Vancouver Aquarium Marine Science Centre. Mr. Galibraith served as the Chairman and Interim CEO of AnorMED until its sale to Genzyme Corp. He is also a former Chair of the Canadian Bacterial Diseases Network. He was a Director of The Michael Smith Foundation for Health Research and the Fraser Health Authority. Mr. Galbraith was admitted in British Columbia as a Chartered Accountant in 1988. He was appointed a Fellow of the Chartered Accountants of BC in 2013. Mr. Galbraith earned a Bachelor of Commerce (Honours) degree from the University of British Columbia in 1985.

CEO Compensation
  • Ken's compensation has increased whilst company is loss making.
  • Ken's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Liminal BioSciences management team in years:

0.5
Average Tenure
53
Average Age
  • The average tenure for the Liminal BioSciences management team is less than 2 years, this suggests a new team.
Management Team

Ken Galbraith

TITLE
CEO & Director
COMPENSATION
CA$13M
AGE
56
TENURE
0.9 yrs

Patrick Sartore

TITLE
COO of North America & Corporate Secretary
COMPENSATION
CA$5M
AGE
44
TENURE
0.5 yrs

Bruce Pritchard

TITLE
Chief Operating Officer of International
COMPENSATION
CA$6M
AGE
46
TENURE
0.5 yrs

Murielle Lortie

TITLE
Chief Financial Officer
AGE
50
TENURE
0.5 yrs

Frédéric Dumais

TITLE
Senior Director of Communications & Investor Relations

Marie Iskra

TITLE
General Counsel
AGE
43
TENURE
0.5 yrs

Martin Leclerc

TITLE
Chief Talent Officer
AGE
56
TENURE
2.8 yrs

Moira Daniels

TITLE
Head of Regulatory Affairs & Quality Assurance
AGE
57
TENURE
0.3 yrs

Steve Burton

TITLE
President of Prometic Bioseparations Ltd
COMPENSATION
CA$169K

John Bienenstock

TITLE
Member of Advisory Committee - Therapeutics
COMPENSATION
CA$44K
AGE
82
Board of Directors Tenure

Average tenure and age of the Liminal BioSciences board of directors in years:

0.9
Average Tenure
56
Average Age
  • The average tenure for the Liminal BioSciences board of directors is less than 3 years, this suggests a new board.
Board of Directors

Kurt Stefan Clulow

TITLE
Chairman of the Board
COMPENSATION
CA$691K
AGE
48
TENURE
0.9 yrs

Ken Galbraith

TITLE
CEO & Director
COMPENSATION
CA$13M
AGE
56
TENURE
3.6 yrs

Simon Best

TITLE
Lead Independent Director
COMPENSATION
CA$1M
AGE
62
TENURE
0.9 yrs

Neil Klompas

TITLE
Independent Director
COMPENSATION
CA$545K
AGE
47
TENURE
0.8 yrs

Zach Newton

TITLE
Director
COMPENSATION
CA$35K
AGE
35
TENURE
1.3 yrs

Benny Soffer

TITLE
Board Observer
TENURE
0.9 yrs

Gary Bridger

TITLE
Independent Director
COMPENSATION
CA$533K
AGE
56
TENURE
0.8 yrs

Tim Wach

TITLE
Independent Director
COMPENSATION
CA$522K
AGE
58
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • Liminal BioSciences individual insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. Jan 20 Sell Gordon Frederick Individual 16. May 19 16. May 19 0 $40.93 $-4
14. Jan 20 Buy Gordon Frederick Individual 16. May 19 16. May 19 8 $39.07 $313
02. Jan 20 Sell Patrick Sartore Individual 31. Dec 19 31. Dec 19 -190 $8.46 $-1,607
31. May 19 Sell Paul Mesburis Individual 28. May 19 28. May 19 -561 $29.68 $-16,652
24. May 19 Sell Paul Mesburis Individual 22. May 19 22. May 19 -402 $33.54 $-12,211
24. May 19 Buy Paul Mesburis Individual 22. May 19 23. May 19 335 $37.27 $12,456
25. Apr 19 Buy Thomvest Ventures, Inc. Company 23. Apr 19 23. Apr 19 16,694,164 $11.33 $189,061,406
X
Management checks
We assess Liminal BioSciences's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Liminal BioSciences has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Liminal BioSciences Inc. operates as a biopharmaceutical company with two drug discovery platforms that focuses on unmet medical needs. It operates through three segments: Small Molecule Therapeutics, Plasma Derived Therapeutics, and Bioseparations. The Small Molecule Therapeutics segment’s lead product candidate is PBI-4050, which targets unmet medical needs, such as the treatment of idiopathic pulmonary fibrosis, Alström syndrome, and other fibrotic indications. The Plasma Derived Therapeutics segment provides Plasma Protein Purification System, a multi-product sequential purification process for the extraction and purification of therapeutic proteins from human plasma. It also engages in developing Ryplazim for the treatment of congenital plasminogen deficiency. The Bioseparations segment develops and manufactures affinity absorbents and Mimetic Ligand purification platform that are used by pharmaceutical and medical companies for extraction and purification manufacturing processes. In addition, it develops processes to recover and purify various other proteins from plasma, including intravenous immunoglobulin, inter-alpha-inhibitor-proteins, fibrinogen, alpha1 antitrypsin, and C1 esterase inhibitor. The company was formerly known as Prometic Life Sciences Inc. and changed its name to Liminal BioSciences Inc. in October 2019. Liminal BioSciences Inc. was incorporated in 1994 and is headquartered in Laval, Canada.

Details
Name: Liminal BioSciences Inc.
LMNL
Exchange: NasdaqGM
Founded: 1994
CA$145,610,664
23,420,352
Website: http://www.liminalbiosciences.com
Address: Liminal BioSciences Inc.
440, Boulevard Armand-Frappier,
Suite 300,
Laval,
Quebec, H7V 4B4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX LMNL Common Shares The Toronto Stock Exchange CA CAD 28. Jul 1998
NasdaqGM LMNL Common Shares Nasdaq Global Market US USD 28. Jul 1998
DB PJ2N Common Shares Deutsche Boerse AG DE EUR 28. Jul 1998
Number of employees
Current staff
Staff numbers
300
Liminal BioSciences employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 04:39
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/23
Last earnings filing: 2020/03/20
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.