Diligence memo · auto-generated · as of July 3, 2026
Walking Fish Therapeutics, Inc.
Walking Fish Therapeutics, Inc. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Walking Fish Therapeutics, Inc. operates in Biotechnology, based in SOUTH SAN FRANCISCO.
Sub-sector tags: pharma.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Walking Fish Therapeutics, Inc. has raised $41M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $29M on 2021-08-27.
Most recent recorded round closed around 2022-02-16.
Valuation (modeled)modeled
Provath models Walking Fish Therapeutics, Inc. at approximately $251M (range $25M–$706M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.50× the median modeled value of Series B Biotechnology companies in 2022–2024 (197 peers) — value vs value, same stage and era. Within the normal band (150% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 6 months.
Last raise 4.4 yr ago; this sector typically re-raises about every 14 months.
Silent for over 3× the sector's normal cadence.
The last round was 2.3× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 79% of Biotechnology peers (4293 compared).
Modeled value ranks above 75% of those peers.
Closest niche peers: Mt McKinley Medical Holding Corp USA, YAP Therapeutics Inc, Pinteon Therapeutics, Inc., OncXerna Therapeutics, Ltd., EpiBiologics, Inc..
Peoplefiled
13 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.