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Physiomics

PYC.L
11
Biotechnology · Healthcare
Price
0.47 GBp
+0.00 (+0.00%)
Market Cap
1.6M GBp
Exchange
London Stock Exchange
Winston Score
11
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 9, 2026 · filings through Dec 31, 2025

Share count rising — dilution

+145.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 97.1M (2021) → 238.2M (2025)

Physiomics is a small UK-based biotechnology company that uses computer modeling to help drug developers understand how medicines behave inside the human body. Its main product is a software platform called The Virtual Tumour, which simulates how cancer tumors respond to chemotherapy. Its customers are pharmaceutical and biotech companies that want to improve their drug development process without running as many expensive lab experiments.

The company earns money by charging fees for consulting services and software licenses, selling its modeling expertise to clients on a project-by-project basis. Physiomics operates primarily in the UK and serves clients across Europe and North America, but it remains very small, with a market cap close to zero and consistently negative margins. Its competitive edge lies in its specialized scientific knowledge of pharmacokinetic and pharmacodynamic modeling, but the main risk is its heavy reliance on winning enough client contracts to cover costs — the negative gross margin shows it currently spends more than it earns.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+51.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+99.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Insider Activity

0.0%ownership

Relatively low insider ownership

Cash Runway

~4 months

$257,000 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Physiomics grew revenue 51% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
-71.7%
Thin — -71.7% gross margin
Operating Margin
-71.7%
Losing money on operations — -71.7%
ROCE
-90.8%
Weak — -90.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
+84.1%
Fast-growing sales (+84.1% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-49.2%
Burning cash (-49.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
N/A
Data not available
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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