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CAPS Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About CAPS Interactive Breakdown Better Bets vs. CAPS Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Trade Sentinel Industry Resource Links External Quote Links

Capstone (CAPS)

Market Price (5/2/2026): $0.4189 | Market Cap: $3.7 Mil
Sector: Materials | Industry: Construction Materials

Capstone (CAPS)

Market Price (5/2/2026): $0.4189
Market Cap: $3.7 Mil
Sector: Materials
Industry: Construction Materials

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Smart Grids & Grid Modernization, and Electrification of Everything. Themes include Distributed Energy Resources, Grid Automation, Show more.

Weak multi-year price returns
2Y Excs Rtn is -134%, 3Y Excs Rtn is -177%

Penny stock
Mkt Price is 0.4

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -3.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -7.6%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 763%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.1%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9.4%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.7%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -580%

High stock price volatility
Vol 12M is 122%

Key risks
CAPS key risks include [1] poor financial health and a significant risk of bankruptcy, Show more.

0 Megatrend and thematic drivers
Megatrends include Smart Grids & Grid Modernization, and Electrification of Everything. Themes include Distributed Energy Resources, Grid Automation, Show more.
1 Weak multi-year price returns
2Y Excs Rtn is -134%, 3Y Excs Rtn is -177%
2 Penny stock
Mkt Price is 0.4
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -3.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -7.6%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 763%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.1%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9.4%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.7%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -580%
8 High stock price volatility
Vol 12M is 122%
9 Key risks
CAPS key risks include [1] poor financial health and a significant risk of bankruptcy, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Stock Movement Drivers

Fundamental Drivers

The -29.6% change in CAPS stock from 1/31/2026 to 5/1/2026 was primarily driven by a -35.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)13120265012026Change
Stock Price ($)0.600.42-29.6%
Change Contribution By: 
Total Revenues ($ Mil)45474.8%
P/S Multiple0.10.13.3%
Shares Outstanding (Mil)69-35.0%
Cumulative Contribution-29.7%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/1/2026
ReturnCorrelation
CAPS-29.6% 
Market (SPY)3.6%11.8%
Sector (XLB)4.7%-4.4%

Fundamental Drivers

The -58.6% change in CAPS stock from 10/31/2025 to 5/1/2026 was primarily driven by a -38.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)103120255012026Change
Stock Price ($)1.020.42-58.6%
Change Contribution By: 
Total Revenues ($ Mil)43478.1%
P/S Multiple0.10.1-37.9%
Shares Outstanding (Mil)59-38.4%
Cumulative Contribution-58.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/1/2026
ReturnCorrelation
CAPS-58.6% 
Market (SPY)5.5%9.8%
Sector (XLB)21.0%-6.6%

Fundamental Drivers

The -76.0% change in CAPS stock from 4/30/2025 to 5/1/2026 was primarily driven by a -98.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)43020255012026Change
Stock Price ($)1.760.42-76.0%
Change Contribution By: 
Total Revenues ($ Mil)45474.5%
P/S Multiple0.00.11177.8%
Shares Outstanding (Mil)09-98.2%
Cumulative Contribution-76.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/1/2026
ReturnCorrelation
CAPS-76.0% 
Market (SPY)30.4%11.6%
Sector (XLB)24.8%5.1%

Fundamental Drivers

The -98.9% change in CAPS stock from 4/30/2023 to 5/1/2026 was primarily driven by a -98.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)43020235012026Change
Stock Price ($)37.000.42-98.9%
Change Contribution By: 
Total Revenues ($ Mil)6247-23.8%
P/S Multiple0.10.1-16.6%
Shares Outstanding (Mil)09-98.2%
Cumulative Contribution-98.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/1/2026
ReturnCorrelation
CAPS-98.9% 
Market (SPY)78.7%12.6%
Sector (XLB)35.2%6.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CAPS Return-49%114%-86%-57%-68%-46%-99%
Peers Return-25%-21%-24%9%122%73%88%
S&P 500 Return27%-19%24%23%16%5%92%

Monthly Win Rates [3]
CAPS Win Rate17%25%0%8%33%50% 
Peers Win Rate40%40%42%38%63%55% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
CAPS Max Drawdown-82%0%-86%-57%-71%-49% 
Peers Max Drawdown-32%-39%-40%-44%-29%-19% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: TGEN, BE, FCEL, BLDP, CMI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/1/2026 (YTD)

How Low Can It Go

EventCAPSS&P 500
2016-2017 Trump Reflation Bond Selloff
  % Loss-46.2%-3.7%
  % Gain to Breakeven85.7%3.9%
  Time to Breakeven11 days6 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-15.9%-17.9%
  % Gain to Breakeven18.9%21.8%
  Time to Breakeven13 days123 days

Compare to TGEN, BE, FCEL, BLDP, CMI

In The Past

Capstone's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventCAPSS&P 500
2016-2017 Trump Reflation Bond Selloff
  % Loss-46.2%-3.7%
  % Gain to Breakeven85.7%3.9%
  Time to Breakeven11 days6 days

Compare to TGEN, BE, FCEL, BLDP, CMI

In The Past

Capstone's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Capstone (CAPS)

Capstone Therapeutics Corp., a biotechnology company, develops novel peptides and other molecules for helping patients with under-served medical conditions in the United States. It develops Apo E mimetic peptide molecule AEM-28 and its analogs that have completed Phase Ia and Phase Ib/IIa clinical trials for lipoprotein metabolism. The company was formerly known as OrthoLogic Corp. and changed its name to Capstone Therapeutics Corp. in May 2010. Capstone Therapeutics Corp. was founded in 1987 and is headquartered in Tempe, Arizona.

AI Analysis | Feedback

Here are 1-2 brief analogies for Capstone (CAPS):

  • A tiny, early-stage version of a major biotech like Amgen or Biogen, specializing in developing novel peptide drugs.

  • Think of it as a pre-commercial Vertex Pharmaceuticals or Gilead Sciences, but focused on advancing a specific novel peptide for metabolic conditions through clinical trials.

AI Analysis | Feedback

  • AEM-28 and its analogs: A novel Apo E mimetic peptide molecule developed for lipoprotein metabolism.

AI Analysis | Feedback

Capstone Therapeutics Corp. (CAPS) is a biotechnology company focused on the research and development of novel peptides and other molecules for medical conditions. Based on the provided information, the company is currently in the early to mid-stages of clinical development, with its lead candidate AEM-28 having completed Phase Ia and Phase Ib/IIa clinical trials.

As a development-stage biotechnology company, Capstone Therapeutics Corp. does not currently have commercialized products or services available for sale. Consequently, the company does not have major customers, either other companies or individual consumers, purchasing its products in the traditional sense.

Biotechnology companies at this stage are primarily engaged in research, preclinical studies, and clinical trials. Their future business model often involves licensing their drug candidates to larger pharmaceutical companies or bringing products to market themselves after successful completion of all clinical phases and regulatory approval. Therefore, at present, Capstone Therapeutics Corp. does not have a customer base generating significant revenue from product sales.

AI Analysis | Feedback

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AI Analysis | Feedback

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AI Analysis | Feedback

The key risks to Capstone Holding Corp. (CAPS) primarily stem from its current business model as a holding company focused on building materials and consumer wellness, following its exit from pharmaceutical development in December 2021.

  1. Financial Instability and Shareholder Dilution: Capstone Holding Corp. faces significant financial risks, including elevated leverage and continued operating losses. The company has engaged in substantial financing activities, such as issuing senior secured convertible notes and utilizing lines of credit. These financing strategies, particularly those involving convertible notes, carry a risk of accelerating dilution and exerting downward pressure on trading, as more shares can be issued below market value to meet working capital needs.
  2. Nasdaq Delisting Risk: The company has received a notice of Nasdaq deficiency due to its failure to meet the minimum bid price requirement. This poses a direct threat to its listing on the Nasdaq Capital Market, which could negatively impact investor confidence and access to capital.
  3. Acquisition and Integration Challenges: As Capstone Holding Corp. is pursuing growth through a strategy of "tuck-in acquisitions" in the specialty construction materials sector, there is an inherent risk in successfully integrating newly acquired companies. Challenges in integrating operations, managing diverse business units, and realizing anticipated synergies from these acquisitions could hinder the company's growth objectives and overall financial performance.

AI Analysis | Feedback

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AI Analysis | Feedback

The addressable market for Capstone Therapeutics Corp.'s main products, specifically their Apo E mimetic peptide molecule AEM-28 and its analogs, which target lipoprotein metabolism, falls within the broader market for lipid disorder treatments.

The global lipid disorder treatment market was valued at approximately USD 30.08 billion in 2025 and is projected to grow to approximately USD 45.98 billion by 2031.

For the North American region, which is a significant market for lipid disorder treatments, the market share was approximately 35.98% of the global revenue in 2025, translating to an estimated USD 10.82 billion.

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Better Bets vs. Capstone (CAPS)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Capstone Earnings Notes12/16/2025
Title
0ARTICLES

Trade Ideas

Select ideas related to CAPS.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CDE_4302026_Dip_Buyer_FCFYield04302026CDECoeur MiningDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		0.0%0.0%0.0%
AXTA_3272026_Dip_Buyer_FCFYield03272026AXTAAxalta Coating SystemsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		5.9%5.9%-2.7%
IFF_3272026_Insider_Buying_GTE_1Mil_EBITp+DE_V203272026IFFInternational Flavors & FragrancesInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		-1.1%-1.1%-3.0%
IP_3132026_Insider_Buying_GTE_1Mil_EBITp+DE_V203132026IPInternational PaperInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		-18.3%-18.3%-18.3%
ARIS_3062026_Dip_Buyer_FCFYield03062026ARISAris MiningDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-7.4%-7.4%-16.7%

Recent Active Movers

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Research & Analysis

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Wealth Management

Peer Comparisons

Peers to compare with:

Financials

CAPSTGENBEFCELBLDPCMIMedian
NameCapstone Tecogen Bloom En.FuelCell.Ballard .Cummins  
Mkt Price0.424.95290.5213.313.39657.449.13
Mkt Cap0.00.181.80.61.090.90.8
Rev LTM47262,4491709933,670135
Op Inc LTM-4-4164-116-803,871-4
FCF LTM-5-0230-132-662,386-3
FCF 3Y Avg0-18-189-1161,806-0
CFO LTM-40298-114-563,621-2
CFO 3Y Avg0-074-133-903,025-0

Growth & Margins

CAPSTGENBEFCELBLDPCMIMedian
NameCapstone Tecogen Bloom En.FuelCell.Ballard .Cummins  
Rev Chg LTM4.5%9.8%56.5%48.3%42.5%-1.3%26.2%
Rev Chg 3Y Avg-8.1%0.7%26.4%11.8%11.9%6.7%9.2%
Rev Chg Q21.0%54.3%130.4%60.7%37.2%1.1%45.7%
QoQ Delta Rev Chg LTM4.8%10.8%21.0%7.3%10.1%0.3%8.7%
Op Inc Chg LTM-461.6%19.5%210.4%19.7%48.1%14.2%19.6%
Op Inc Chg 3Y Avg-181.3%-88.2%120.9%-0.6%13.2%41.4%6.3%
Op Mgn LTM-7.6%-14.5%6.7%-68.5%-80.1%11.5%-11.1%
Op Mgn 3Y Avg-3.9%-16.8%-1.6%-115.5%-151.9%8.4%-10.4%
QoQ Delta Op Mgn LTM-2.8%1.8%3.1%8.2%31.0%0.3%2.5%
CFO/Rev LTM-9.4%0.7%12.2%-66.9%-56.5%10.8%-4.3%
CFO/Rev 3Y Avg0.9%-1.9%1.5%-110.1%-104.6%8.9%-0.5%
FCF/Rev LTM-9.7%-1.9%9.4%-77.6%-66.8%7.1%-5.8%
FCF/Rev 3Y Avg0.5%-3.7%-2.5%-160.5%-134.7%5.3%-3.1%

Valuation

CAPSTGENBEFCELBLDPCMIMedian
NameCapstone Tecogen Bloom En.FuelCell.Ballard .Cummins  
Mkt Cap0.00.181.80.61.090.90.8
P/S0.14.833.43.810.32.74.3
P/Op Inc-1.0-32.8498.9-5.5-12.823.5-3.3
P/EBIT-0.4-30.81,346.2-3.7-11.521.2-2.0
P/E-0.2-29.513,566.2-3.5-11.232.0-1.8
P/CFO-0.8642.2274.4-5.7-18.225.112.1
Total Yield-576.2%-3.4%0.0%-28.4%-8.9%4.3%-6.2%
Dividend Yield0.0%0.0%0.0%0.0%0.0%1.2%0.0%
FCF Yield 3Y Avg352.4%-2.7%-3.0%-57.8%-16.4%4.0%-2.8%
D/E7.80.00.00.30.00.10.1
Net D/E7.60.00.0-0.2-0.50.00.0

Returns

CAPSTGENBEFCELBLDPCMIMedian
NameCapstone Tecogen Bloom En.FuelCell.Ballard .Cummins  
1M Rtn-27.2%78.1%119.3%106.0%40.7%19.5%59.4%
3M Rtn-29.6%32.4%91.9%62.5%45.5%14.0%38.9%
6M Rtn-58.6%-50.4%119.8%48.7%-5.0%51.4%21.8%
12M Rtn-77.8%81.3%1,628.3%226.2%175.6%127.1%151.4%
3Y Rtn-98.9%385.3%1,720.3%-79.0%-19.7%209.3%94.8%
1M Excs Rtn-37.2%68.1%109.4%96.1%30.7%9.6%49.4%
3M Excs Rtn-33.8%28.2%87.7%58.3%41.3%9.8%34.7%
6M Excs Rtn-64.3%-52.7%112.3%57.8%-9.2%45.2%18.0%
12M Excs Rtn-105.8%70.6%1,456.0%194.8%148.0%98.1%123.1%
3Y Excs Rtn-177.1%267.7%1,587.8%-153.6%-98.9%130.7%15.9%

Comparison Analyses

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Financials

Segment Financials

Assets by Segment
$ Mil2025
Single Segment1
Total1


Price Behavior

Price Behavior
Market Price$0.42 
Market Cap ($ Bil)0.0 
First Trading Date07/21/2011 
Distance from 52W High-82.8% 
   50 Days200 Days
DMA Price$0.91$2.27
DMA Trenddowndown
Distance from DMA-53.8%-81.4%
 3M1YR
Volatility105.8%122.7%
Downside Capture1.231.25
Upside Capture17.90-12.42
Correlation (SPY)12.1%11.4%
CAPS Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta0.700.770.880.741.150.71
Up Beta0.380.470.130.481.750.86
Down Beta12.501.440.44-0.970.600.62
Up Capture-185%-53%16%14%-6%-4%
Bmk +ve Days15223166141428
Stock +ve Days1121284788106
Down Capture761%178%206%199%170%110%
Bmk -ve Days4183056108321
Stock -ve Days11213576150196

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CAPS
CAPS-74.5%122.8%-0.59-
Sector ETF (XLB)24.9%16.4%1.184.8%
Equity (SPY)30.6%12.5%1.8811.3%
Gold (GLD)39.5%27.2%1.20-1.0%
Commodities (DBC)51.5%17.9%2.205.6%
Real Estate (VNQ)13.1%13.5%0.676.9%
Bitcoin (BTCUSD)-18.2%42.1%-0.365.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CAPS
CAPS-15.3%216.5%0.41-
Sector ETF (XLB)6.4%18.9%0.235.1%
Equity (SPY)12.8%17.1%0.598.4%
Gold (GLD)20.5%17.9%0.94-1.6%
Commodities (DBC)14.3%19.1%0.612.5%
Real Estate (VNQ)3.5%18.8%0.0913.2%
Bitcoin (BTCUSD)7.4%56.1%0.354.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CAPS
CAPS-20.9%191.8%0.32-
Sector ETF (XLB)10.3%20.6%0.443.6%
Equity (SPY)14.9%17.9%0.717.8%
Gold (GLD)13.6%15.9%0.71-2.0%
Commodities (DBC)9.7%17.7%0.461.0%
Real Estate (VNQ)5.7%20.7%0.249.2%
Bitcoin (BTCUSD)67.4%66.9%1.074.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date4152026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 3312026-45.4%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity8.8 Mil
Short % of Basic Shares0.8%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/17/20256.9%-25.9%-22.4%
4/1/20250.9%8.1%-18.8%
SUMMARY STATS   
# Positive210
# Negative012
Median Positive3.9%8.1% 
Median Negative -25.9%-20.6%
Max Positive6.9%8.1% 
Max Negative -25.9%-22.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202504/16/202610-K
09/30/202511/18/202510-Q
06/30/202508/15/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
06/30/201908/13/201910-Q
03/31/201905/13/201910-Q
12/31/201803/22/201910-K
09/30/201811/06/201810-Q
06/30/201808/13/201810-Q
03/31/201805/11/201810-Q
12/31/201702/28/201810-K
09/30/201711/13/201710-Q
06/30/201708/14/201710-Q
03/31/201705/04/201710-Q
12/31/201603/15/201710-K

Recent Forward Guidance [BETA]

Latest: Q3 2025 Earnings Reported 11/17/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue Run-rate 100.00 Mil 0 Same NewGuidance: 100.00 Mil for 2025
2026 Strategic Acquisitions33.54   

Prior: Q4 2024 Earnings Reported 4/1/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 Revenue Run Rate 100.00 Mil    
2025 Adjusted Instone EBITDA 10.00 Mil    

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