-81%

est. 2Y upside i

Lygos engineers yeast to convert sugar into high-value industrial…

Rank

#3601

Sector

Synthetic Biology

Est. Liquidity

~4Y

Data Quality

Data: Low

The equity upside over two years is highly uncertain and likely negative due to a large preference stack of $211.5M versus a $100M entry valuation.

Last updated: July 3, 2026

Bull (20%)-6%

High growth drives revenue to $17M, exit at 18x forward revenue ($306M) via strategic acquisition. After $211.5M preference, common recovers $94.5M, a 6% loss on $100M entry.

Base (50%)-100%

Revenue reaches $17M but exit multiple compresses to 10x ($170M), below $211.5M preferred liquidation preference. Common stock receives no proceeds.

Bear (30%)-100%

Revenue stalls, exit multiple falls to 5x ($85M). All value goes to preferred; common equity is wiped out.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

212%

Total funding of $211.5M implies a 1x non-participating liquidation preference that exceeds the current valuation, leaving common stock with no residual value in most exit scenarios.

Dilution Risk

high

The company is not profitable and capital-intensive; likely to raise additional capital within 2 years, diluting common shareholders.

Secondary Liquidity

moderate

Secondary market implied valuation of $100M suggests some liquidity, but trades are likely infrequent and not guaranteed.

Other — 1 role

View all 1 open roles at Lygos →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Lygos's data — designed to show you've done your homework.

  • 1

    “What is the current cap table breakdown and implied liquidation preference per share?”

  • 2

    “What are the revenue growth targets for the next 24 months and key customer wins?”

  • 3

    “How does the recent divestiture impact the company's strategy and cash runway?”

Community

Valuation Sentiment

Our model estimates -81% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.