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    Canton Strategic (CNTN)

    Market Price (11/3/2026): $2.12 | Market Cap: $168.9 MilSector: Health Care | Industry: Biotechnology

    Canton Strategic (CNTN)

    Market Price (11/3/2026): $2.12
    Market Cap: $168.9 Mil
    Sector: Health Care
    Industry: Biotechnology

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

    0

    Weak multi-year price returns
    2Y Excs Rtn is -26%, 3Y Excs Rtn is -179%

    Meaningful short interest
    Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.19

    Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -54 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3595%

    Expensive valuation multiples
    P/SPrice/Sales ratio is 296x

    Significant share based compensation
    SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 2325%

    Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1482%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5466%

    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 -28%

    0 Weak multi-year price returns
    2Y Excs Rtn is -26%, 3Y Excs Rtn is -179%
    1 Meaningful short interest
    Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.19
    2 Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -54 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3595%
    3 Expensive valuation multiples
    P/SPrice/Sales ratio is 296x
    4 Significant share based compensation
    SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 2325%
    5 Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1482%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5466%
    6 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 -28%

    CNTN in ETFs

    Weight = CNTN's share of each fund

    VTI0.00%
    IWM0.00%
    IWN0.01%
    VTWO0.00%

    Valuation & Metrics

    FYE: 12/31CNTN [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$1.5 Mil—
    FY 2026 Sales$0.0 Mil—
    FY 2027 Sales$0.0 Mil—
    FY 2026 Sales Growth-100.0%—
    FY 2027 Sales Growth—8.9%
    EARNINGS
    LTM Net Income (GAAP) [3]$-98.1 Mil—
    FY 2026 Net Income (Non-GAAP)$-24.0 Mil—
    FY 2027 Net Income (Non-GAAP)$-28.8 Mil—
    FY 2027 Net Income Growth—14.0%
    FY 2026 EPS (Non-GAAP)$-0.75—
    FY 2027 EPS (Non-GAAP)$-0.90—
    FY 2027 EPS Growth——
    VALUATION
    FY 2026 P/S—3.1
    FY 2027 P/S——
    FY 2026 P/E—18.0
    FY 2027 P/E——

    [1] CNTN forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 11/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    CNTNS&P 500
    REVENUE GROWTHFAIR
    Rev LTM ($ Bil)0.0
    Rev Chg Q�8.9%
    Rev Chg LTM�8.5%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)-0.1
    CFO LTM ($ Bil)-0.0
    Net Inc LTM ($ Bil)-0.1
    Op Mgn LTM-3,595.2%18.6%
    CFO/Rev LTM-1,482.1%21.6%
    Net Inc Mgn-6,559.3%13.4%
    VALUATIONVERY HIGH
    P/S307.43.3
    P/CFO-20.715.2
    P/FCF-5.620.4
    P/E-4.722.8
    STABILITYGOOD
    Debt/Equity0.000.19
    Cash/Assets0.070.07

    AI Analysis | Feedback

    MetricValueDateSource
    Canton Network monthly transaction volume$9 trillion1262026Link
    Canton Network daily transactions700,000+1262026Link
    Shares outstanding37,386,1141062026Link
    Number of Employees22192026Link

    Price Chart

    null
    Upcoming
    11/16/2026Earnings ReleaseRev: $1.0 Mil (E)
    EPS: $-86.25 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 11/1/2026

    Canton Strategic (CNTN) stock has gained about 5% since 7/31/2026 because of the following key factors:

    1. Canton Strategic Holdings announced its intent to become the first publicly listed company to offer tokenized U.S. shares, with trading commencing on November 2, 2026. This company-specific news, disclosed on October 29, 2026, positions CNTN as a pioneer in regulated tokenized securities under the SEC's Innovation Exemption and significantly fueled recent investor interest.

    2. The company reported its first operating revenue and a substantial reduction in net loss for fiscal Q2 2026, which ended June 30, 2026. On August 14, 2026, Canton Strategic announced approximately $1.3 million in operating revenue, derived from locking services and validator operations. Furthermore, its net loss improved to $19.25 million (or $(0.08) per diluted share), representing a 59.33% reduction from the previous quarter. This positive financial update led to a 2.54% increase in the stock price on the day of the announcement.

    Show more
    Updated on 11/1/2026

    Canton Strategic (CNTN) stock has gained about 5% since 7/31/2026 because of the following key factors:

    1. Canton Strategic Holdings announced its intent to become the first publicly listed company to offer tokenized U.S. shares, with trading commencing on November 2, 2026. This company-specific news, disclosed on October 29, 2026, positions CNTN as a pioneer in regulated tokenized securities under the SEC's Innovation Exemption and significantly fueled recent investor interest.

    2. The company reported its first operating revenue and a substantial reduction in net loss for fiscal Q2 2026, which ended June 30, 2026. On August 14, 2026, Canton Strategic announced approximately $1.3 million in operating revenue, derived from locking services and validator operations. Furthermore, its net loss improved to $19.25 million (or $(0.08) per diluted share), representing a 59.33% reduction from the previous quarter. This positive financial update led to a 2.54% increase in the stock price on the day of the announcement.

    3. A published analyst price target of $5.00 from ThinkEquity LLC indicated substantial potential upside for Canton Strategic Holdings. An October 27, 2026, report highlighted this solitary analyst target, suggesting an approximately 162% upside from the stock's trading price of around $1.91 at that time, contributing to positive market sentiment despite limited overall analyst coverage.

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    Stock Movement Drivers

    Fundamental Drivers

    The 5.7% change in CNTN stock from 7/31/2026 to 11/2/2026 was primarily driven by a 9.2233720368547763E17% change in the company's Total Revenues ($ Mil).
    (LTM values as of)731202611022026Change
    Stock Price ($)1.932.045.7%
    Change Contribution By: 
    Total Revenues ($ Mil)019.2233720368547763E17%
    P/S Multiple∞295.8 
    Shares Outstanding (Mil)208217-4.2%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2026 to 11/2/2026
    ReturnCorrelation
    CNTN5.7% 
    Market (SPY)0.7%37.8%
    Sector (XLV)13.6%4.8%

    Fundamental Drivers

    The -36.8% change in CNTN stock from 4/30/2026 to 11/2/2026 was primarily driven by a null change in the company's P/S Multiple.
    (LTM values as of)430202611022026Change
    Stock Price ($)3.232.04-36.8%
    Change Contribution By: 
    Total Revenues ($ Mil)019.2233720368547763E17%
    P/S Multiple∞295.8 
    Shares Outstanding (Mil)37217-82.9%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 11/2/2026
    ReturnCorrelation
    CNTN-36.8% 
    Market (SPY)4.9%16.8%
    Sector (XLV)27.0%10.6%

    Fundamental Drivers

    The -30.8% change in CNTN stock from 10/31/2025 to 11/2/2026 was primarily driven by a null change in the company's P/S Multiple.
    (LTM values as of)1031202511022026Change
    Stock Price ($)2.952.04-30.8%
    Change Contribution By: 
    Total Revenues ($ Mil)019.2233720368547763E17%
    P/S Multiple∞295.8 
    Shares Outstanding (Mil)3217-98.7%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2025 to 11/2/2026
    ReturnCorrelation
    CNTN-30.8% 
    Market (SPY)11.2%26.6%
    Sector (XLV)29.6%13.9%

    Fundamental Drivers

    The -96.5% change in CNTN stock from 10/31/2023 to 11/2/2026 was primarily driven by a null change in the company's P/S Multiple.
    (LTM values as of)1031202311022026Change
    Stock Price ($)58.272.04-96.5%
    Change Contribution By: 
    Total Revenues ($ Mil)019.2233720368547763E17%
    P/S Multiple∞295.8 
    Shares Outstanding (Mil)0217-100.0%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2023 to 11/2/2026
    ReturnCorrelation
    CNTN-96.5% 
    Market (SPY)86.0%7.5%
    Sector (XLV)55.2%5.4%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    CNTN Return--89%-95%-73%49%-33%-100%
    Peers Return-7%32%41%-1%13%7%106%
    S&P 500 Return27%-19%24%23%16%10%101%

    Monthly Win Rates [3]
    CNTN Win Rate-17%17%17%42%45% 
    Peers Win Rate42%67%58%50%83%41% 
    S&P 500 Win Rate75%42%67%75%67%36% 

    Max Drawdowns [4]
    CNTN Max Drawdown---99%-76%-71%-69% 
    Peers Max Drawdown-27%-19%-12%-23%-29%-15% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: VRTX, ASPE, ATYR, BBTX, CTY.
    [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 11/2/2026 (YTD)

    How Low Can It Go

    EventCNTNS&P 500
    2025 US Tariff Shock
      % Loss-45.6%-18.8%
      % Gain to Breakeven83.7%23.1%
      Time to Breakeven82 days79 days
    2024 Yen Carry Trade Unwind
      % Loss-26.8%-7.8%
      % Gain to Breakeven36.6%8.5%
      Time to Breakeven379 days18 days

    Compare to VRTX, CMND, CNSY, CNXU, CSBR

    In The Past

    Canton Strategic's stock fell -45.6% during the 2025 US Tariff Shock. Such a loss loss requires a 83.7% 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.

    EventCNTNS&P 500
    2025 US Tariff Shock
      % Loss-45.6%-18.8%
      % Gain to Breakeven83.7%23.1%
      Time to Breakeven82 days79 days
    2024 Yen Carry Trade Unwind
      % Loss-26.8%-7.8%
      % Gain to Breakeven36.6%8.5%
      Time to Breakeven379 days18 days

    Compare to VRTX, CMND, CNSY, CNXU, CSBR

    In The Past

    Canton Strategic's stock fell -45.6% during the 2025 US Tariff Shock. Such a loss loss requires a 83.7% 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 Canton Strategic (CNTN)

    ```html

    Canton Strategic, trading under the symbol CNTN, is a pre-clinical biotechnology company dedicated to developing innovative therapeutic candidates for treatment-resistant cancers. The company's core scientific approach focuses on leveraging ferroptosis, a distinct anti-cancer mechanism that induces iron-mediated cell death (IMCD). This strategy aims to address the significant challenge of drug resistance in various types of difficult-to-treat malignancies.

    The company's pipeline features several promising product candidates. HSB-1216 is a lead IMCD inducer specifically targeting solid tumors. Another key candidate, HSB-888, is a dual Quatramer-loaded IMCD inducer combined with an anthracycline analogue, also developed for solid tumors. Furthermore, Canton Strategic is advancing HSB-510, a targeted bifunctional inhibitory compound utilizing its proprietary Quatramer technology, which inhibits PI3K-delta and HDAC6—pathways known to downregulate the cancer-related gene c-myc. The pipeline also includes HSB-114, an immunotherapeutic agent that employs Quatramer technology to deliver tumor necrosis factor-alpha (TNF-alpha) gene directly into cancer cells.

    Canton Strategic's primary market focus is on oncology, specifically serving patients afflicted with treatment-resistant cancers and solid tumors, where current therapies often fall short. By developing novel drugs that induce ferroptosis or utilize advanced Quatramer-based delivery systems, the company aims to provide new and effective treatment options. Its research and development efforts are geared towards progressing these pre-clinical assets through the rigorous stages of drug development, ultimately seeking to impact the global pharmaceutical market for cancer therapeutics.

    ```

    AI Analysis | Feedback

    Here are a few analogies for Canton Strategic (CNTN):

    • An early-stage Genentech for novel cancer therapies.
    • Like a pre-clinical Moderna, but for cancer drugs instead of vaccines.

    AI Analysis | Feedback

    • HSB-1216: An IMCD inducer targeting solid tumors for the treatment of resistant cancers.
    • HSB-888: A dual Quatramer loaded IMCD inducer coupled with an anthracycline analogue for solid tumors.
    • HSB-510: A targeted bifunctional inhibitory compound in Quatramer with single digit nanomolar IC50 against PI3K-delta and HDAC6.
    • HSB-114: An immunotherapeutic agent that uses Quatramer technology to deliver the tumor necrosis factor-alpha gene into cancer cells.

    AI Analysis | Feedback

    Based on the provided description of Canton Strategic (symbol: CNTN), which describes Hillstream BioPharma, Inc., a pre-clinical biotechnology company, the company does not currently have major customers. Hillstream BioPharma is in the stage of developing novel therapeutic candidates (e.g., HSB-1216, HSB-888) and its technology (Quatramer) for the treatment of resistant cancers. At this pre-clinical stage, companies are focused on research, development, and clinical trials rather than commercial sales of their product candidates to other companies or individuals.

    AI Analysis | Feedback

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    AI Analysis | Feedback

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    AI Analysis | Feedback

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    AI Analysis | Feedback

    For Canton Strategic (CNTN), the addressable markets for its main products are as follows:

    HSB-1216 (IMCD inducer targeting solid tumors) and HSB-888 (IMCD inducer for solid tumors, including osteosarcoma)

    The global solid tumor cancer treatment market was estimated at USD 5.37 billion in 2024 and is anticipated to reach approximately USD 8.76 billion by 2034, growing at a compound annual growth rate (CAGR) of 2.88% from 2025 to 2034. The U.S. solid tumor cancer treatment market size was valued at USD 1.32 billion in 2024 and is projected to reach around USD 2.19 billion by 2034. HSB-888 has received Orphan Drug Designation for osteosarcoma, indicating it targets a rare pediatric disease in the U.S. that affects fewer than 200,000 people.

    HSB-510 (targeted bifunctional inhibitory compound against PI3K-delta and HDAC6)

    The global HDAC inhibitor drug market size was valued at USD 2.31 billion in 2025 and is expected to reach USD 5.43 billion by 2033, with a CAGR of 11.30% during the forecast period. North America held the largest revenue share of 42.5% in the HDAC inhibitor drug market in 2025. The global PI3K Inhibitor Drug Class Market was valued at USD 600 million in 2024 and is projected to reach USD 2.5 billion by 2032, at a CAGR of 17.9%. North America dominates the global PI3K Inhibitor Drug Class Market, with a revenue share of 30.34% in 2025.

    HSB-114 (immunotherapeutic agent delivering tumor necrosis factor-alpha gene)

    null

    AI Analysis | Feedback

    Here are 3-5 expected drivers of future revenue growth for Canton Strategic (CNTN) over the next 2-3 years, based on the provided background description of Hillstream BioPharma, Inc.:
    1. Successful Clinical Advancement of Lead Candidate HSB-1216: Progression of HSB-1216, an IMCD inducer targeting solid tumors, through its clinical trials is a primary revenue driver. Hillstream BioPharma had anticipated initiating a Phase 1 clinical trial for HSB-1216 in the second half of 2023. Positive data from these early-stage trials would significantly increase the drug candidate's value and its potential for future licensing agreements or eventual market entry. HSB-1216 has received Orphan Drug Designation for Uveal Melanoma, highlighting its potential in rare and devastating cancers.
    2. Development and Potential Commercialization of TH104: The company (then Tharimmune, formerly Hillstream BioPharma) was progressing towards acquiring TH104, a clinical-stage asset designed to suppress chronic pruritus in primary biliary cholangitis (PBC). With an approved IND and plans for Phase 1 pharmacokinetic trials by the end of 2023, successful development and potential commercialization of TH104, which has projected revenue potential ranging from $350 million to $500 million from PBC alone, is a significant near-term revenue growth driver.
    3. Advancement of Additional Pipeline Candidates: The successful progression of other drug candidates, such as HSB-888 and HSB-510, through preclinical and clinical development phases, would contribute to future revenue growth. HSB-888 has received Rare Pediatric Disease Designation and Orphan Drug Designation for osteosarcoma, which could lead to an expedited development pathway and potentially a Priority Review Voucher. HSB-510, a dual inhibitor targeting PI3K-delta and HDAC6, was expected to conduct IND-enabling studies in 2023. Newer pipeline assets like HSB-3215 (targeting HER2/HER3) and HSB-1940 (Knob Quatrabodies™ against PD-1) were also moving towards IND filings and clinical entry in 2024.
    4. Strategic Partnerships and Licensing Agreements: As a biotechnology company with an early-stage pipeline, securing strategic collaborations and licensing deals with larger pharmaceutical companies is a crucial driver of non-dilutive revenue growth. Promising preclinical and early clinical data from their drug candidates could attract such partnerships, leading to upfront payments, milestone achievements, and future royalty streams.
    5. Leveraging Proprietary Drug Delivery and AI Platforms: The company's proprietary Quatramer™ tumor targeting platform, which enhances drug uptake and extends duration of action, and its Trident Artificial Intelligence precision medicine platform, used to identify biomarkers, are valuable assets. These platforms could be leveraged to develop additional drug candidates, improve existing ones, or potentially be licensed to other companies, thereby contributing to future revenue streams.

    AI Analysis | Feedback

    Share Repurchases

    • On June 13, 2022, Hillstream BioPharma, Inc. (then trading as HILS) authorized a share repurchase program to acquire up to $1 million of its common stock.
    • From October 1, 2022, to December 31, 2022, the company repurchased 15,717 shares for $0.00759 million.
    • As of December 31, 2022, a total of 90,826 shares had been repurchased for $0.07 million under the authorized program.

    Share Issuance

    • On May 2, 2023, Hillstream BioPharma, Inc. (then HILS) completed a public offering, selling 5,300,000 shares of common stock at $0.50 per share, resulting in gross proceeds of $2,650,000.
    • The company granted the underwriters a 45-day option to purchase up to an additional 795,000 shares to cover over-allotments.
    • Net proceeds from the May 2023 offering were approximately $2.2 million (or $2.6 million if the over-allotment option was fully exercised), intended for advancing lead drug candidate HSB-1216, developing other pipeline candidates, general corporate purposes, and working capital.
    • Tharimmune, Inc. (the company's name after Hillstream BioPharma) raised approximately $2.08 million through a private placement, primarily to advance its TH104 development program.

    Outbound Investments

    • Hillstream BioPharma entered into an exclusive option agreement in July 2023 to acquire a clinical-stage asset for chronic pruritis, with the acquisition expected to close in the fourth quarter of that year.
    • Tharimmune entered into an exclusive licensing agreement with Intract Pharma in October 2024 for an innovative oral delivery platform for anti-inflammatory treatments.

    Peer Outperformance in Biotechnology

    null
    Share of Biotechnology constituents that CNTN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    47%
    of 451 industry peers · -30.8% return
    3Y
    13%
    of 398 industry peers · -96.6% return
    5Y
    —
    insufficient peer history
    null
    Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is CNTN's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Health Care Distributors 6 12.2%58.2%97.6% CAH 476% · MCK 367% · COR 185%
    Health Care Services 20 31.1%37.7%14.8% HIMS 210% · RDNT 129% · DGX 92%
    Managed Health Care 8 34.6%-3.7%-3.5% OSCR 84% · HQY 53% · ELV 6%
    Health Care Facilities 25 12.6%15.4%-12.2% THC 286% · NHC 227% · EHC 195%
    Health Care Equipment 50 6.4%12.3%-19.4% GKOS 430% · UFPT 355% · TMDX 141%
    Pharmaceuticals 61 -13.3%6.7%-37.3% LQDA 968% · KNSA 499% · LLY 475%
    Health Care Supplies 11 21.4%11.8%-38.8% LNTH 314% · HAE 68% · MMSI 30%
    Life Sciences Tools & Services 107 -9.1%-10.2%-70.3% NTRA 232% · AXGN 227% · MEDP 186%
    Biotechnology ← 364 -26.5%-33.1%-81.8% TRVI 1017% · DNTH 1008% · ELVN 1002%
    Health Care Technology 21 -27.4%-55.9%-82.2% VEEV -3% · DOCS -55%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

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    Peer Comparisons

    Peers to compare with:

    Financials

    CNTNVRTXASPEATYRBBTXCTYMedian
    NameCanton S.Vertex P.Aspen Ne.aTyr Pha.Bambusa .City The. 
    Mkt Price2.16541.2012.506.8016.3720.1714.44
    Mkt Cap0.5137.3----68.9
    Rev LTM112,587-0--1
    Op Inc LTM-544,777--64---54
    FCF LTM-823,796--55---55
    FCF 3Y Avg-331,957--58---33
    CFO LTM-224,293--55---22
    CFO 3Y Avg-132,398--58---13

    Growth & Margins

    CNTNVRTXASPEATYRBBTXCTYMedian
    NameCanton S.Vertex P.Aspen Ne.aTyr Pha.Bambusa .City The. 
    Rev Chg LTM-10.2%----10.2%
    Rev Chg 3Y Avg-9.8%----9.8%
    Rev Chg Q-12.5%----12.5%
    QoQ Delta Rev Chg LTM-3.0%-0.0%--1.5%
    Op Inc Chg LTM-360.1%2,497.9%-8.8%--8.8%
    Op Inc Chg 3Y Avg-130.0%792.2%--11.3%---11.3%
    Op Mgn LTM-3,595.2%37.9%--33,609.5%---3,595.2%
    Op Mgn 3Y Avg-23.9%----23.9%
    QoQ Delta Op Mgn LTM--0.2%-4,964.2%--2,482.0%
    CFO/Rev LTM-1,482.1%34.1%--28,705.3%---1,482.1%
    CFO/Rev 3Y Avg-19.6%----19.6%
    FCF/Rev LTM-5,465.5%30.2%--28,852.1%---5,465.5%
    FCF/Rev 3Y Avg-15.7%----15.7%

    Valuation

    CNTNVRTXASPEATYRBBTXCTYMedian
    NameCanton S.Vertex P.Aspen Ne.aTyr Pha.Bambusa .City The. 
    Mkt Cap0.5137.3----68.9
    P/S313.210.9----162.0
    P/Op Inc-8.728.7----10.0
    P/EBIT-4.127.2----11.6
    P/E-4.831.2----13.2
    P/CFO-21.132.0----5.4
    Total Yield-22.2%3.1%-----9.5%
    Dividend Yield0.0%0.0%----0.0%
    FCF Yield 3Y Avg-147.4%1.6%-----72.9%
    D/E0.00.0----0.0
    Net D/E-0.1-0.0-----0.1

    Returns

    CNTNVRTXASPEATYRBBTXCTYMedian
    NameCanton S.Vertex P.Aspen Ne.aTyr Pha.Bambusa .City The. 
    1M Rtn-4.0%7.2%-16.1%37.1%9.2%-10.0%1.6%
    3M Rtn8.0%15.0%-16.1%37.1%9.2%-10.0%8.6%
    6M Rtn-31.6%25.9%-16.1%37.1%9.2%-10.0%-0.4%
    12M Rtn-26.8%27.2%-16.1%37.1%9.2%-10.0%-0.4%
    3Y Rtn-96.4%43.9%-16.1%37.1%9.2%-10.0%-0.4%
    1M Excs Rtn-1.5%9.5%-13.8%39.6%11.6%-7.7%4.0%
    3M Excs Rtn15.8%15.5%-13.6%39.8%11.8%-7.5%13.7%
    6M Excs Rtn-36.7%21.3%-20.6%32.0%4.4%-14.5%-5.1%
    12M Excs Rtn-38.4%18.6%-26.2%25.7%-1.6%-20.1%-10.9%
    3Y Excs Rtn-183.9%-30.7%-94.9%-51.9%-75.0%-89.4%-82.2%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/14/20265/13/20263/31/202611/12/20258/14/20255/12/20253/26/202511/7/20248/9/20245/9/20242/23/202411/7/2023
    Key Financials Quarterly            
    Total Revenue100000000000
    Ebitda-25-52-36-2-1-3-4-4-2-2-2-2
    Operating Income-1-37-14-2-1-3-4-4-2-2-3-2
    Net Income-19-47-29-2-2-3-4-4-2-2-2-2
    EPS-0.09-0.23-0.79-0.34-0.65-0.99-2.02-2.45-2.42-2.55-3.16-39.42
    Key Financials TTM            
    Total Revenue TTM100000000000
    Ebitda TTM-114-91-42-10-12-12-12-11-9-9-9-9
    Operating Income TTM-54-54-20-10-12-13-12-11-9-9-9-9
    Net Income TTM-98-81-36-10-12-12-12-11-9-9-9-9
    Growth Rates Quarterly            
    Total Revenue Growth------------
    EBITDA Growth-1626.4%-1935.5%-832.0%44.8%38.5%-12.5%-54.4%-108.8%0.5%16.1%-40.0%14.6%
    Operating Income Growth15.9%-1347.7%-253.9%45.8%39.8%-8.5%-52.0%-109.5%-0.4%13.5%-43.3%13.3%
    Net Income Growth-937.9%-1762.7%-670.0%44.6%20.2%-12.7%-54.4%-108.6%0.5%16.1%-40.0%14.4%
    Margins Quarterly            
    EBITDA Margin-1646.3%-----------
    Operating Income Margin-80.4%-----------
    Net Income Margin-1287.2%-----------
    Cash & Debt            
    Total Cash3742178214588113
    Total Debt000000000000
    Net Debt / (Cash)-37-42-17-7-2-1-4-5-8-8-11-3
    Cash Flows Quarterly            
    FCF from Operations-2-8-10-2-1-3-3-3-2-3-1-1
    Cash Flows TTM            
    FCF from Operations TTM-22-21-16-9-10-11-11-9-7-7-7-7
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-0.6%-24.7%-12.0%-19.9%-14.4%-27.0%-44.5%-49.5%-33.9%-36.8%-44.3%-34.8%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-9.7%-9.8%-4.3%-23.6%-29.5%-33.5%-36.0%-35.6%-32.5%-35.6%-41.4%-40.9%

    Segment Financials

    Operating Income by Segment
    $ Mil20252024
    Digital asset treasury segment-30
    Clinical stage bio-technology segment-17-12
    Total-20-12


    Assets by Segment
    $ Mil20252024202320222021
    Digital asset treasury segment5140   
    Clinical stage bio-technology segment54   
    Single Segment  1171
    Total51941171


    Price Behavior

    Price Behavior
    Market Price$2.04 
    Market Cap ($ Bil)0.4 
    First Trading Date01/12/2022 
    Distance from 52W High-62.8% 
       50 Days200 Days
    DMA Price$2.14$2.97
    DMA Trendupdown
    Distance from DMA-4.8%-31.2%
     3M1YR
    Volatility78.6%92.9%
    Downside Capture360.48308.04
    Upside Capture474.91228.36
    Correlation (S&P 500)45.6%28.2%
    CNTN Betas & Captures as of 10/31/2026

     1M2M3M6M1Y3Y
    Beta4.774.072.861.231.950.87
    Up Beta7.124.840.78-0.510.230.36
    Down Beta2.894.233.50-0.401.581.76
    Up Capture447%409%383%171%414%1%
    Bmk +ve Days12182862130427
    Stock +ve Days10193060119334
    Down Capture538%353%275%226%175%110%
    Bmk -ve Days10253664121325
    Stock -ve Days10212960124402

    [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 CNTN
    CNTN-31.4%92.9%0.01-
    Sector ETF (XLV)29.7%16.4%1.3913.9%
    Equity (SPY)11.6%12.8%0.5726.6%
    Gold (GLD)-2.3%28.6%-0.0916.0%
    Commodities (DBC)43.1%20.9%1.60-10.6%
    Real Estate (VNQ)11.0%13.7%0.508.3%
    Bitcoin (BTCUSD)-28.8%43.6%-0.6630.8%

    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 CNTN
    CNTN-72.6%172.0%-0.10-
    Sector ETF (XLV)8.6%15.3%0.376.2%
    Equity (SPY)12.0%17.1%0.528.5%
    Gold (GLD)16.5%19.0%0.694.4%
    Commodities (DBC)8.4%19.6%0.313.2%
    Real Estate (VNQ)1.1%18.9%-0.054.1%
    Bitcoin (BTCUSD)4.1%51.6%0.262.8%

    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 CNTN
    CNTN-47.6%172.0%-0.10-
    Sector ETF (XLV)12.1%16.8%0.596.2%
    Equity (SPY)15.2%17.9%0.728.5%
    Gold (GLD)11.6%16.5%0.574.4%
    Commodities (DBC)7.8%18.1%0.343.2%
    Real Estate (VNQ)5.4%20.7%0.224.1%
    Bitcoin (BTCUSD)61.7%66.3%1.012.8%

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

    Short Interest

    Short Interest: As Of Date10152026
    Short Interest: Shares Quantity8.0 Mil
    Short Interest: % Change Since 93020262.7%
    Average Daily Volume0.8 Mil
    Days-to-Cover Short Interest10.2 days
    Basic Shares Quantity216.9 Mil
    Short % of Basic Shares3.7%

    Earnings Returns History

    Updated 10/29/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/14/20260.2%8.4%1.2%
    SUMMARY STATS   
    # Positive111
    # Negative000
    Median Positive0.2%8.4%1.2%
    Median Negative   
    Max Positive0.2%8.4%1.2%
    Max Negative   
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/14/20260.2%8.4%1.2%
    SUMMARY STATS   
    # Positive111
    # Negative000
    Median Positive0.2%8.4%1.2%
    Median Negative   
    Max Positive0.2%8.4%1.2%
    Max Negative   

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/14/202610-Q
    03/31/202605/13/202610-Q
    12/31/202503/31/202610-K
    09/30/202511/12/202510-Q
    06/30/202508/14/202510-Q
    03/31/202505/12/202510-Q
    12/31/202403/26/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/09/202410-Q
    03/31/202405/09/202410-Q
    12/31/202302/23/202410-K
    09/30/202311/07/202310-Q
    06/30/202308/11/202310-Q
    03/31/202305/22/202310-Q
    12/31/202203/16/202310-K
    09/30/202211/14/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/14/202610-Q
    03/31/202605/13/202610-Q
    12/31/202503/31/202610-K
    09/30/202511/12/202510-Q
    06/30/202508/14/202510-Q
    03/31/202505/12/202510-Q
    12/31/202403/26/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/09/202410-Q
    03/31/202405/09/202410-Q
    12/31/202302/23/202410-K
    09/30/202311/07/202310-Q
    06/30/202308/11/202310-Q
    03/31/202305/22/202310-Q
    12/31/202203/16/202310-K
    09/30/202211/14/202210-Q
    06/30/202208/11/202210-Q
    03/31/202205/16/202210-Q
    12/31/202104/01/202210-K
    09/30/202101/13/2022424B4
    06/30/202110/15/2021S-1/A

    Insider Activity

    Updated 10/27/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Stetz, Gary SDirectSell52720263.4712,50043,375465,587Form
    2Stetz, Gary SDirectSell52720263.4287,851300,507501,724Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Stetz, Gary SDirectSell52720263.4712,50043,375465,587Form
    2Stetz, Gary SDirectSell52720263.4287,851300,507501,724Form

    Industry Resources

    External Quote Links


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    Core Cache Last Updated: 11/2/2026