Stock Analysis & Valuation Bullfrog AI Holdings, Inc. Common Stock (BFRG)

• Previous Close: $0.61
• Sector Valuation Confidence Level: High

Valuation method	Value, $	Upside, %
Artificial intelligence (AI)	35.19	5669
Intrinsic value (DCF)		n/a
Graham-Dodd Method		n/a
Graham Formula		n/a

Strategic Investment Analysis

Company Overview

Bullfrog AI Holdings, Inc. (NASDAQ: BFRG) is an innovative digital biopharmaceutical company leveraging artificial intelligence (AI) and machine learning (ML) to transform drug discovery and healthcare analytics. Based in Gaithersburg, Maryland, Bullfrog AI specializes in its proprietary bfLEAP platform, which analyzes preclinical and clinical datasets to accelerate precision medicine. The company holds strategic licensing agreements with George Washington University for siRNA-based therapies targeting liver diseases and Johns Hopkins University for Mebendazole-based cancer treatments. Operating in the high-growth healthcare AI sector, Bullfrog AI aims to bridge the gap between big data and actionable medical insights, positioning itself as a disruptor in biopharma analytics. With no current revenue but strong intellectual property and academic partnerships, the company targets unmet needs in oncology, metabolic disorders, and rare diseases.

Investment Summary

Bullfrog AI presents a high-risk, high-reward opportunity for investors focused on AI-driven biopharma innovation. The company’s lack of revenue and negative EPS (-$0.85) reflect its early-stage R&D focus, while its $5.4M cash position provides limited runway. However, its partnerships with leading institutions and proprietary bfLEAP platform offer potential for breakthroughs in drug repurposing and biomarker discovery. The low beta (0.74) suggests lower volatility than biotech peers, but dependence on preclinical success and future funding needs pose significant risks. Suitable for speculative investors with long-term horizons.

Competitive Analysis

Bullfrog AI competes in the AI-powered drug discovery space by differentiating its bfLEAP platform’s focus on multimodal data integration (genomics, proteomics, clinical records). Unlike broad AI healthcare players, Bullfrog’s niche approach targets specific therapeutic areas (e.g., NASH, HCC) through academic collaborations, reducing direct competition with larger AI platforms. However, its capital constraints ($17.4M market cap) limit scalability compared to deep-pocketed rivals. The company’s competitive edge lies in its exclusive siRNA and Mebendazole licenses, which could yield first-mover advantages in niche indications. Key challenges include demonstrating clinical translatability of AI findings and competing for partnerships against established players like BenevolentAI or Recursion Pharmaceuticals. Its asset-light model mitigates some risk but increases dependency on licensing deals.

Major Competitors

• Recursion Pharmaceuticals (RXRX): Recursion (NASDAQ: RXRX) operates a broader AI-driven drug discovery platform with $590M+ cash reserves and Pharma partnerships (Bayer, Roche). While Bullfrog focuses on specific licenses, Recursion’s scale and automation give it an edge in throughput. However, Recursion’s less targeted approach may lack Bullfrog’s therapeutic depth in liver diseases.
• BenevolentAI (BAI): UK-based BenevolentAI (private) has advanced clinical-stage assets and AstraZeneca collaborations. Its mature AI platform and €1.5B+ valuation overshadow Bullfrog, but Bullfrog’s siRNA/IP strategy offers differentiated pathways in metabolic disorders where BenevolentAI is less active.
• Schrödinger (SDGR): Schrödinger (NASDAQ: SDGR) combines physics-based modeling with ML for drug discovery. Its $1.7B market cap and revenue-generating software business contrast with Bullfrog’s pure-play biopharma focus. Bullfrog’s academic ties may enable faster niche applications despite Schrödinger’s computational superiority.