Companies · Biotechnology

Trovagene, Inc.

San Diego · Biotechnology

Diligence memoA one-page analyst read on Trovagene, Inc. — recommendation, valuation, rhythm, risks.
$45.3M
Total raised · real
11
Rounds
5.4×
Latest step-up
Top 21%
Sector rank · raised
Series A
Latest stage · inferred · Tue Jun 16 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Trovagene, Inc. looks over-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Over-valued
  • Modeled value is 2.70× the median modeled value of Series A Biotechnology companies in 2019–2021 (216 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.0 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Biotechnology

Trovagene, Inc. is one of 4291 Biotechnology companies tracked from San Diego. By capital raised it ranks in the upper tier (ahead of 80% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
3
Investors (latest)
2020-06-16
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$125M$250M$375M$500MSeries A · 2009-06-10 Raised $6.6M (real) Modeled valuation $239M (est)Series A2009Series A · 2012-11-21 Raised $3.8M (real) Modeled valuation $136M (est)Series A2012Series A · 2017-07-19 Raised $6.5M (real) Modeled valuation $237M (est)Series A2017Series A · 2019-04-05 Raised $1.5M (real) Modeled valuation $54M (est)Series A2019Series A · 2019-05-15 Raised $1.5M (real) Modeled valuation $54M (est)Series A2019Series A · 2019-08-22 Raised $1.5M (real) Modeled valuation $54M (est)Series A2019Series A · 2019-10-30 Raised $5.0M (real) Modeled valuation $181M (est)Series A2019Series A · 2020-03-30 Raised $2.1M (real) Modeled valuation $75M (est)Series A2020Series A · 2020-05-12 Raised $810K (real) Modeled valuation $29M (est)Series A2020Series A · 2020-05-26 Raised $2.5M (real) Modeled valuation $90M (est)Series A2020Series A · 2020-06-16 Raised $14M (real) Modeled valuation $488M (est)Series A2020Cumulative $45M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$6.6M · 2009
Series A extension$3.8M · 2012
Series A extension$6.5M · 2017
Series A extension$1.5M · 2019
Series A extension$1.5M · 2019
Series A extension$1.5M · 2019
Series A extension$5.0M · 2019
Series A extension$2.1M · 2020
Series A extension$810K · 2020
Series A extension$2.5M · 2020
Series A extension$13.5M · 2020

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$488.0M
Base estimate est.
$14.7M
Conservative case
$2.7B
Upside case
$61.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series A · modeled $238.5M · 2009-06-102009Series A · modeled $135.9M · 2012-11-21Series A · modeled $236.7M · 2017-07-19Series A · modeled $54.2M · 2019-04-05Series A · modeled $54.2M · 2019-05-15Series A · modeled $54.2M · 2019-08-22Series A · modeled $180.8M · 2019-10-30Series A · modeled $75.3M · 2020-03-30Series A · modeled $29.3M · 2020-05-12Series A · modeled $90.4M · 2020-05-26Series A · modeled $488.0M · 2020-06-162020
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
44%
Survival probability
24% low · 60% high
1.62×/yr
Annual markup
2.04×/yr upside case
6.0 yr
Elapsed time used
6.0 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
13 mo
Avg between rounds
$4.1M/yr
Capital velocity
17.1 yr
On record since
2009
First round
11
Rounds on file
How it compares to the market

Benchmarked against 4291 companies in Biotechnology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 6.3× above median
This company$45.3M
Sector median$7.2M
Latest round — vs other Series A rounds in sector (real $, this stage) 2.5× above median
This company$13.5M
Sector median$5.4M
Modeled value — vs sector median (estimate, all stages) 7.6× above median
This company$488.0M
Sector median$64.2M

Raised more than 80% of sector peers (real $). Modeled value above 83% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #7 of 216.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0MCapital raised (log)TRACT Therapeutics, Inc. · Series A Raised $15.0M · modeled $542.3M (est)Arrakis Therapeutics, Inc. · Series A Raised $28.2M · modeled $542.3M (est)TechAccel, LLC · Series A Raised $15.0M · modeled $541.9M (est)Trident Labs, Inc. · Series A Raised $14.0M · modeled $506.1M (est)Meissa Vaccines Inc · Series A Raised $15.2M · modeled $503.1M (est)Vibe Bioscience Ltd. · Series A Raised $13.9M · modeled $501.1M (est)Equinox, Inc. · Series A Raised $34.7M · modeled $485.2M (est)Taiga Biotechnologies, Inc. · Series A Raised $37.9M · modeled $484.6M (est)Aruna Biomedical Inc · Series A Raised $22.4M · modeled $480.5M (est)Vibe Bioscience Corp · Series A Raised $13.7M · modeled $476.8M (est)Adarza BioSystems, Inc. · Series A Raised $31.5M · modeled $461.9M (est)Trovagene, Inc. (this company) Raised $45.3M · modeled $488.0M (est)Trovagene, Inc.
CompanyStageRaised · realValue · estvs peer med.
TRACT Therapeutics, Inc.Series A$15.0M$542.3M3.00×
Arrakis Therapeutics, Inc.Series A$28.2M$542.3M3.00×
TechAccel, LLCSeries A$15.0M$541.9M3.00×
Trident Labs, Inc.Series A$14.0M$506.1M2.80×
Meissa Vaccines IncSeries A$15.2M$503.1M2.78×
Vibe Bioscience Ltd.Series A$13.9M$501.1M2.77×
Trovagene, Inc. this companySeries A$45.3M$488.0M2.70×
Equinox, Inc.Series A$34.7M$485.2M2.68×
Taiga Biotechnologies, Inc.Series A$37.9M$484.6M2.68×
Aruna Biomedical IncSeries A$22.4M$480.5M2.66×
Vibe Bioscience CorpSeries A$13.7M$476.8M2.64×
Adarza BioSystems, Inc.Series A$31.5M$461.9M2.56×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$6.6M2009-06-10$30.0M$238.5M85%
Series A$3.8M2012-11-21$17.1M$135.9M85%
Series A$6.5M2017-07-19$29.8M$236.7M90%
Series A$1.5M2019-04-05$6.8M$54.2M90%
Series A$1.5M2019-05-15$6.8M$54.2M90%
Series A$1.5M2019-08-22$6.8M$54.2M90%
Series A$5.0M2019-10-30$22.7M$180.8M90%
Series A$2.1M2020-03-30$9.5M$75.3M90%
Series A$810K2020-05-12$3.7M$29.3M90%
Series A$2.5M2020-05-26$11.4M$90.4M90%
Series A$13.5M2020-06-16$61.4M$488.0M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$6.6M2009-06-10
    • First recorded raise — entered as Series A.
    • 40 investors on this round.
  2. Series A$3.8M2012-11-21
    • Raised again after 41 mo — slower than the ~14 mo sector norm.
    • Round 1.8× smaller than the prior — bridge or down round.
    • 8 investors on this round.
  3. Series A$6.5M2017-07-19
    • Raised again after 56 mo — slower than the ~14 mo sector norm.
    • Round 1.7× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 4 investors on this round.
  4. Series A$1.5M2019-04-05
    • Raised 21 mo later, in step with the ~14 mo sector norm.
    • Round 4.4× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  5. Series A$1.5M2019-05-15
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  6. Series A$1.5M2019-08-22
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  7. Series A$5.0M2019-10-30
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round 3.3× larger than the prior — scaling up.
    • 2 investors on this round.
  8. Series A$2.1M2020-03-30
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 2.4× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  9. Series A$810K2020-05-12
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 2.6× smaller than the prior — bridge or down round.
    • 8 investors on this round.
  10. Series A$2.5M2020-05-26
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.1× larger than the prior — scaling up.
    • 1 investor on this round.
  11. Series A$13.5M2020-06-16
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 5.4× larger than the prior — scaling up.
    • 3 investors on this round.
Intelligence
2021 ~Q3
Modeled next raise · ~13mo cadence
$40.5M
Modeled next size est.range $26.3M$64.8M
5.4×
Last step-up
$4.1M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Antonius Schuh4 other2009-06
John Brancaccio4 other2009-06
Paul Billings4 other2017-07
Rodney Markin3 other2017-07
Gary Jacob2 other2009-06
Gary S. Jacob2 other2019-10
Gary W. Pace2 other2020-03
John P. Brancaccio2 other2019-10
RODNEY S MARKIN2 other2019-04
Steve Zaniboni2 other2012-11
Thomas Adams2 other2009-06
Thomas H Adams2 other2019-10
David Robbins1 other2009-06
Gabriele Cerrone1 other2009-06
James O. Armitage1 other2020-03
LALE WHITE1 other2020-05
William Welch1 other2017-07
Athena S. Countouriotis2019-04
Brigitte H. Lindsay2019-10
Gary Jacob, Ph.D.2020-05
Gary Pace, Ph.D.2020-05
James Armitage2020-05
John S. Brancaccio2019-04
John W. Brancaccio2020-03
Registry & provenance

Trovagene, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1213037
SEC CIK
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Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
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Tropogenix, Inc.BiotechnologyPre-Seed$535K87%
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Tracon Pharmaceuticals, Inc.BiotechnologySeries B$1.5B86%
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Frequently asked
How much funding has Trovagene, Inc. raised?
Trovagene, Inc. has raised approximately $45.3M in disclosed capital across 11 recorded financing rounds, aggregated from public filings.
What is Trovagene, Inc.'s estimated valuation?
Provath's modeled valuation for Trovagene, Inc. is approximately $488.0M (modeled range $14.7M–$2.7B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Trovagene, Inc. at?
Trovagene, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Tue Jun 16.
What does Trovagene, Inc. do and where is it based?
Trovagene, Inc. operates in the Biotechnology sector, based in San Diego.
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