Sunshine Biopharma
SBFMNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $2.85 Prior regular-session close from the quote source.
- $2.71–$2.82 Regular-session low and high so far today.
- 49.4K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $2.53–$464.00 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own SBFM if Sunshine Biopharma can turn a string of commercial product sales in oncology and antivirals into repeatable, higher‑margin revenue that (with disciplined SG&A/R&D spending) converts to operating profitability — but limited cash means the company.
SBFM price history
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Investment thesis
What must happen next
Revenue growth is being driven by repeatable commercial sales of pharmaceuticals (not one‑time licensing or settlement payments), so future top‑line expansion will compound without binary regulatory outcomes.HoldingMateriality: High
annual revenue rose year-over-year: $228,426 (FY2021) → $4,345,603 (FY2022) → $24,092,787 (FY2023) → $34,874,283 (FY2024) → $36,305,891 (FY2025). If true, the company can compound revenue and leverage gross margin into operating profits; if false, revenue will be volatile and require continual capital raises that dilute shareholders.
Watch: Regulatory action (e.g., revocation of approval) or loss of a distribution agreement that halts product sales.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
annual revenue rose year-over-year: $228,426 (FY2021) → $4,345,603 (FY2022) → $24,092,787 (FY2023) → $34,874,283 (FY2024) → $36,305,891 (FY2025).
Open source ↗Gross margins around 30–35% reflect product economics that can fund operating expense absorption as sales scale, enabling margin expansion with volume growth rather than solely via cost cuts.HoldingMateriality: High
gross_profit: $1,696,575 (FY2022), $8,339,171 (FY2023), $10,669,794 (FY2024), $12,255,677 (FY2025) — implying gross margins roughly in the 30–40% range across recent years. Sustained product margins give room for SG&A/R&D spend to support growth while still moving toward profitability as revenue scales; margin erosion would compress that path.
Watch: Supplier cost increases, raw material shortages, or a shift in sales mix toward lower‑margin products.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
gross_profit: $1,696,575 (FY2022), $8,339,171 (FY2023), $10,669,794 (FY2024), $12,255,677 (FY2025) — implying gross margins roughly in the 30–40% range across recent.
Open source ↗Operating losses have materially narrowed from FY2022’s large deficit toward a smaller loss, indicating potential operating leverage: if revenue growth continues, SBFM can reach operating profitability without dramatic cuts.StrengtheningMateriality: Medium
operating_income improved from -$27,000,750 (FY2022) to -$4,785,299 (FY2023) and then was -$5,812,121 (FY2024) and -$6,227,029 (FY2025) — a large step improvement from 2022 and then a smaller, stable loss level. Demonstrable operating leverage converts revenue growth into EPS/cash per share instead of endless cash burn; failure means perpetual dilution or insolvency risk.
Watch: Management ramps R&D or SG&A ahead of commercialization (or to defend market share), widening operating losses.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
operating_income improved from -$27,000,750 (FY2022) to -$4,785,299 (FY2023) and then was -$5,812,121 (FY2024) and -$6,227,029 (FY2025) — a large step.
Open source ↗Negative operating cash flow and a declining cash balance create a near‑term financing need: unless operating cash flow turns positive, SBFM will need external financing (equity or partnership) within the next 12–24 months, which will affect shareholder value.StrengtheningMateriality: Medium
operating_cash_flow: -$5,248,358 (FY2022), -$8,775,111 (FY2023), -$12,524,779 (FY2024), improved to -$5,331,073 (FY2025). A capital raise can materially dilute current shareholders or change control via partnership; conversely, positive OCF removes immediate dilution risk and validates the commercial model.
Watch: A non‑dilutive partnership, milestone payment, or a large new distribution agreement that immediately improves cash flow.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
operating_cash_flow: -$5,248,358 (FY2022), -$8,775,111 (FY2023), -$12,524,779 (FY2024), improved to -$5,331,073 (FY2025).
Open source ↗Low recorded liabilities relative to assets/equity provide financial flexibility to raise capital or pursue partnerships without immediate solvency pressure, giving management optionality to fund the business.StrengtheningMateriality: Medium
liabilities are modest (~$6.1M in FY2023, ~$7.0M in FY2024 and FY2025) versus assets (~$27–30M) and equity (~$21–23M) across recent years. If liabilities stay modest, management can choose less‑destructive financing (e.g., partnerships, licensing) rather than distressed debt or fire sales; a sudden increase in contingent liabilities would remove that option.
Watch: Recognition of significant contingent liabilities (litigation, recalls) or debt covenants that restrict financing options.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
liabilities are modest (~$6.1M in FY2023, ~$7.0M in FY2024 and FY2025) versus assets (~$27–30M) and equity (~$21–23M) across recent years.
Open source ↗
Full investment case & evidence
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Original research
Revenue growth is being driven by repeatable commercial sales of pharmaceuticals (not one‑time licensing or settlement payments), so future top‑line expansion will compound without binary regulatory outcomes. If true, the company can compound revenue and leverage gross margin into operating profits; if false, revenue will be volatile and require continual capital raises that dilute shareholders.
Gross margins around 30–35% reflect product economics that can fund operating expense absorption as sales scale, enabling margin expansion with volume growth rather than solely via cost cuts. Sustained product margins give room for SG&A/R&D spend to support growth while still moving toward profitability as revenue scales; margin erosion would compress that path.
Operating losses have materially narrowed from FY2022’s large deficit toward a smaller loss, indicating potential operating leverage: if revenue growth continues, SBFM can reach operating profitability without dramatic cuts. Demonstrable operating leverage converts revenue growth into EPS/cash per share instead of endless cash burn; failure means perpetual dilution or insolvency risk.
Negative operating cash flow and a declining cash balance create a near‑term financing need: unless operating cash flow turns positive, SBFM will need external financing (equity or partnership) within the next 12–24 months, which will affect shareholder value. A capital raise can materially dilute current shareholders or change control via partnership; conversely, positive OCF removes immediate dilution risk and validates the commercial model.
Low recorded liabilities relative to assets/equity provide financial flexibility to raise capital or pursue partnerships without immediate solvency pressure, giving management optionality to fund the business. If liabilities stay modest, management can choose less‑destructive financing (e.g., partnerships, licensing) rather than distressed debt or fire sales; a sudden increase in contingent liabilities would remove that option.
All standing thesis claims
Original report summary
Sunshine Biopharma can turn a string of commercial product sales in oncology and antivirals into repeatable, higher‑margin revenue that (with disciplined SG&A/R&D spending) converts to operating profitability — but limited cash means the company.
Bull case and bear case
Bull case and bear case for Sunshine Biopharma
Where the evidence on Sunshine Biopharma stands: Holding on the latest evidence (Nov 6, 2026). Of its 5 thesis points, 3 strengthening and 2 holding.
Bull case: what the evidence supports
Revenue growth is being driven by repeatable commercial sales of pharmaceuticals (not one‑time licensing or settlement payments), so future top‑line expansion will compound without binary regulatory outcomes.
Gross margins around 30–35% reflect product economics that can fund operating expense absorption as sales scale, enabling margin expansion with volume growth rather than solely via cost cuts.
Operating losses have materially narrowed from FY2022’s large deficit toward a smaller loss, indicating potential operating leverage: if revenue growth continues, SBFM can reach operating profitability without dramatic cuts.
Negative operating cash flow and a declining cash balance create a near‑term financing need: unless operating cash flow turns positive, SBFM will need external financing (equity or partnership) within the next 12–24 months, which will affect shareholder value.
Low recorded liabilities relative to assets/equity provide financial flexibility to raise capital or pursue partnerships without immediate solvency pressure, giving management optionality to fund the business.
Bear case: what would count against it
Regulatory action (e.g., revocation of approval) or loss of a distribution agreement that halts product sales.
Supplier cost increases, raw material shortages, or a shift in sales mix toward lower‑margin products.
Management ramps R&D or SG&A ahead of commercialization (or to defend market share), widening operating losses.
Thesis-Break Engine
Thesis-break watch · Sunshine Biopharma
No break has crossed Sunshine Biopharma’s thesis. Its break conditions are checked against every new filing as it lands.
Early warning
The break condition read on the trailing twelve months through Sunshine Biopharma’s latest quarterly report, ahead of the annual figure it is written on.
- Revenue decline, trailing 12 months
Across all companies, this kind of early warning has happened 3,039 times before. Those stocks beat the market by a median of 1% over the next six months, and 32% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedEntered a material definitive agreement.
Sunshine Biopharma filed an SEC 8-K on 2026-10-09: Entered a material definitive agreement. It is a dated development that tests the current thesis.
- MixedOther material event.
Sunshine Biopharma filed an SEC 8-K on 2026-09-11: Other material event. It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Sunshine Biopharma filed an SEC 8-K on 2026-08-28: Director or principal officer change. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Regulatory action (e.g., revocation of approval) or loss of a distribution agreement that halts product sales.
- Supplier cost increases, raw material shortages, or a shift in sales mix toward lower‑margin products.
- Management ramps R&D or SG&A ahead of commercialization (or to defend market share), widening operating losses.
- A non‑dilutive partnership, milestone payment, or a large new distribution agreement that immediately improves cash flow.
- Recognition of significant contingent liabilities (litigation, recalls) or debt covenants that restrict financing options.
SBFM news
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Financial statements
SBFM income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
SBFM: quick answers
- What is SBFM's short interest?
- As of October 30, 2026, 176,303 SBFM shares were sold short, down 79.0% from the count before. At the stock's average daily volume that is 1.0 days to cover. FINRA publishes the count twice a month. SBFM short interest history