ABOS Acumen Pharmaceuticals, Inc. - Common Stock
$2.83
Price · Aug 19, 2026
Fundamentals as of Aug 12, 2026
52W Range
$1–$4
68% of range
Analyst Rating
STRONG BUY
12 analysts
Price Target
$7
+162% upside
P/E (TTM)
-1.7
ROE
-129.4%
Net Profit Margin
—
ABOS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.83
Market Cap
$204M
P/E (TTM)
-1.7
EPS (TTM)
$-2.00
Revenue (TTM)
—
Div Yield
—
ROE
-129.4%
Debt/Equity
0.1
52W Range
$1 – $4
ABOS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$-2.00
2021-12-31
→
2025-12-31
Free Cash Flow
$-116M
2021-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ABOS
Peer Median
P/E (TTM)
-1.7
1.2
P/B
2.9
1.6
EV / EBITDA
-0.8
—
Price / FCF
-1.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ABOS
Peer Median
ROA
-67.1%
-56.8%
ROE
-129.4%
-83.3%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ABOS
Peer Median
Debt / Equity
0.1
12.4
Current Ratio
4.1
8.5
Quick Ratio
3.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ABOS
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ABOS
Peer Median
ABOS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 6 50.0%
- Buy 5 41.7%
- Hold 1 8.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-14
Median
$8.00
Mean
$7.40
← Below all targets
$2.83
Low
$4.00
High
$10.00
Median target
$8.00
+183.2%
Mean target
$7.40
+161.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.02%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.45 | $-0.37 | -0.08% |
| March 31, 2026 | $-0.33 | $-0.41 | 0.08% |
| Dec. 31, 2025 | $-0.41 | $-0.46 | 0.05% |
| Sept. 30, 2025 | $-0.44 | $-0.62 | 0.18% |
| June 30, 2025 | $-0.68 | $-0.55 | -0.13% |
| March 31, 2025 | $-0.48 | $-0.68 | 0.20% |
| Dec. 31, 2024 | $-0.62 | $-0.49 | -0.13% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ABOS | $128M | -1.1 | — | — | -129.4% | — |
| PEPG | $448M | -3.1 | — | — | -82.0% | — |
| KROS | $398M | 8.9 | — | 35.7% | 17.2% | — |
| DTIL | $100M | -1.2 | -50.1% | -133.4% | -72.4% | — |
| CRBP | $143M | -1.4 | — | — | -60.8% | — |
| KRRO | $75M | -0.6 | 181.5% | -1834.5% | -140.8% | — |
| CUE | $29M | -1.1 | 195.8% | -96.9% | -119.3% | — |
| VYGR | $232M | -1.9 | -49.5% | -296.5% | -54.4% | — |
| CHRS | $172M | 1.0 | 59.8% | 398.4% | 185.8% | — |
| NKTX | $131M | -1.3 | — | — | -31.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| R&D Expense | $105M | $94M | $42M | $32M | $12M | $8M | |
| SG&A Expense | $19M | $20M | $19M | $13M | $7M | $1M | |
| Operating Expenses | $124M | $114M | $61M | $45M | $20M | $9M | |
| Operating Income | $-124M | $-114M | $-61M | $-45M | $-20M | $-8M | |
| Interest Expense | · | · | $581.0K | $0 | · | · | |
| Interest Income | $7M | $14M | $11M | $2M | · | · | |
| Other Non-op | $-266.0K | $-151.0K | $-83.0K | $-11.0K | $51.0K | · | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-121M | $-102M | $-52M | $-43M | $-101M | $-7M | |
| EPS (Basic) | $-2.00 | $-1.71 | $-1.08 | $-1.06 | $-5.02 | · | |
| EPS (Diluted) | $-2.00 | $-1.71 | $-1.08 | $-1.06 | $-5.02 | · | |
| Shares (Basic) | 60,561,836 | 60,013,277 | 48,609,383 | 40,601,936 | 20,057,534 | · | |
| Shares (Diluted) | 60,561,836 | 60,013,277 | 48,609,383 | 40,601,936 | 20,057,534 | · | |
| EBITDA | $-124M | $-114M | $-61M | $-45M | $-20M | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $54M | $36M | $67M | $130M | $122M | $44M | |
| Short-term Investments | $63M | $136M | $177M | $48M | $72M | · | |
| Prepaid Expense | $5M | $7M | $3M | $3M | $4M | $543.0K | |
| Other Current Assets | · | · | $283.0K | $237.0K | $140.0K | · | |
| Current Assets | $122M | $178M | $247M | $180M | $199M | $44M | |
| PP&E (Net) | $103.0K | $73.0K | $122.0K | $165.0K | $36.0K | · | |
| Accum. Depreciation | $200.0K | $100.0K | $100.0K | · | · | · | |
| Other Non-current Assets | $350.0K | $486.0K | $724.0K | $151.0K | $14.0K | $0 | |
| Total Assets | $123M | $239M | $310M | $197M | $230M | $44M | |
| Accounts Payable | $554.0K | $6M | $1M | $2M | $1M | $531.0K | |
| Accrued Liabilities | $10M | $7M | $6M | $3M | · | · | |
| Short-term Debt | $9M | $0 | · | · | · | · | |
| Current Liabilities | $30M | $28M | $13M | $8M | $5M | · | |
| Capital Leases | · | $150.0K | $284.0K | $0 | · | · | |
| Other Non-current Liabilities | $0 | $150.0K | $284.0K | · | · | · | |
| Total Liabilities | $52M | $57M | $43M | $8M | $5M | $6M | |
| Long-term Debt | $22M | $29M | $30M | $0 | · | · | |
| Total Debt | $9M | · | · | · | · | · | |
| Common Stock | $6.0K | $6.0K | $6.0K | $4.0K | $4.0K | · | |
| Paid-in Capital | $517M | $507M | $489M | $360M | $353M | $8M | |
| Retained Earnings | $-446M | $-325M | $-223M | $-170M | $-128M | $-27M | |
| AOCI | $83.0K | $-48.0K | $312.0K | $-751.0K | · | · | |
| Stockholders' Equity | $70M | $182M | $267M | $189M | $225M | $-19M | |
| Liabilities + Equity | $123M | $239M | $310M | $197M | $230M | $44M | |
| Shares Outstanding | 60,575,369 | 60,094,083 | 57,910,461 | 41,025,062 | 40,473,270 | 419,124 |
Cash Flow 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $10M | $10M | $6M | $3M | $922.0K | $154.0K | |
| Operating Cash Flow | $-116M | $-86M | $-43M | $-35M | $-18M | $-7M | |
| CapEx | $88.0K | $16.0K | $21.0K | $161.0K | $40.0K | · | |
| Investing Cash Flow | $134M | $48M | $-172M | $39M | $-104M | · | |
| Stock Issued | $0 | $8M | $122M | $4M | $169M | · | |
| Net Stock Activity | $0 | $8M | $122M | $4M | $169M | · | |
| Financing Cash Flow | $-34.0K | $7M | $152M | $4M | $200M | $45M | |
| Taxes Paid | $0 | $0 | $0 | $0 | $0 | $0 | |
| Free Cash Flow | $-116M | $-86M | $-43M | $-35M | $-18M | · |
Profitability 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| ROA | -67.1% | -37.3% | -20.7% | -20.1% | -73.2% | · | |
| ROE | -129.4% | -51.3% | -19.1% | -22.2% | -43.9% | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 4.1 | 6.5 | 19.0 | 23.1 | · | · | |
| Quick Ratio | 3.9 | 6.2 | 18.8 | 6.1 | · | · | |
| Debt / Equity | 0.1 | · | · | · | · | · | |
| Interest Coverage | · | · | -105.2 | · | · | · |
Valuation (TTM) 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-121M | $-102M | $-52M | $-43M | $-101M | · | |
| Market Cap | $128M | $103M | $222M | $222M | $274M | · | |
| Enterprise Value | $20M | · | · | · | · | · | |
| P/E | -1.1 | -1.0 | -3.6 | -5.1 | -1.3 | · | |
| P/B | 1.8 | 0.6 | 0.8 | 1.2 | 1.2 | · | |
| P / Tangible Book | 1.8 | 0.6 | 0.8 | 1.2 | 1.2 | · | |
| P / Cash Flow | -1.1 | -1.2 | -5.2 | -6.3 | -15.2 | · | |
| P / FCF | -1.1 | -1.2 | -5.2 | -6.3 | -15.2 | · | |
| EV / EBITDA | -0.2 | · | · | · | · | · | |
| EV / FCF | -0.2 | · | · | · | · | · | |
| Earnings Yield | -94.8% | -99.4% | -28.1% | -19.6% | -74.3% | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $28M | $16M | $21M | $22M | $37M | $25M | $35M | $27M | $20M | $12M | $13M | $11M | $9M | $9M | $11M | $8M | |
| SG&A Expense | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $4M | $3M | |
| Operating Expenses | $33M | $21M | $25M | $27M | $42M | $30M | $40M | $32M | $24M | $18M | $18M | $16M | $13M | $13M | $14M | $11M | |
| Operating Income | $-33M | $-21M | $-25M | $-27M | $-42M | $-30M | $-40M | $-32M | $-24M | $-18M | $-18M | $-16M | $-13M | $-13M | $-14M | $-11M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $1M | · | · | · | $0 | · | · | |
| Interest Income | $1M | $1M | $1M | $2M | $2M | $2M | $3M | $4M | $4M | $4M | $4M | $3M | $2M | $2M | · | · | |
| Other Non-op | $-19.0K | $-43.0K | $-4.0K | $-69.0K | $-129.0K | $-64.0K | $-62.0K | $33.0K | $-68.0K | $-54.0K | $-21.0K | $-42.0K | $-16.0K | $-4.0K | $-10.0K | $-2.0K | |
| Net Income | $-33M | $-21M | $-25M | $-26M | $-41M | $-29M | $-37M | $-30M | $-21M | $-15M | $-16M | $-13M | $-12M | $-11M | $-13M | $-11M | |
| EPS (Basic) | $-0.45 | $-0.33 | $-0.40 | $-0.44 | $-0.68 | $-0.48 | $-0.62 | $-0.50 | $-0.34 | $-0.25 | $-0.28 | $-0.24 | $-0.28 | $-0.28 | $-0.32 | $-0.26 | |
| EPS (Diluted) | $-0.45 | $-0.33 | $-0.40 | $-0.44 | $-0.68 | $-0.48 | $-0.62 | $-0.50 | $-0.34 | $-0.25 | $-0.28 | $-0.24 | $-0.28 | $-0.28 | $-0.32 | $-0.26 | |
| Shares (Basic) | 72,250,694 | 63,219,289 | -121,110,642 | 60,573,425 | 60,573,425 | 60,525,628 | -119,958,279 | 60,079,778 | 60,079,778 | 59,812,000 | -87,670,371 | 54,229,630 | 41,025,062 | 41,025,062 | -80,871,281 | 40,502,860 | |
| Shares (Diluted) | 72,250,694 | 63,219,289 | -121,110,642 | 60,573,425 | 60,573,425 | 60,525,628 | -119,958,279 | 60,079,778 | 60,079,778 | 59,812,000 | -87,670,371 | 54,229,630 | 41,025,062 | 41,025,062 | -80,871,281 | 40,502,860 | |
| EBITDA | $-33M | $-21M | · | $-27M | $-42M | $-30M | · | $-32M | $-24M | $-18M | · | $-16M | $-13M | $-13M | · | $-11M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $59M | $52M | $54M | $47M | $37M | $30M | $36M | $33M | $68M | $47M | $67M | $95M | · | · | $130M | $158M | |
| Short-term Investments | $51M | $77M | $63M | $80M | $107M | $119M | $136M | $167M | $193M | $206M | $177M | $121M | $68M | $62M | $48M | $43M | |
| Prepaid Expense | $5M | $5M | $5M | $6M | $5M | $6M | $7M | $7M | $6M | $3M | $3M | $3M | $5M | $4M | $3M | $2M | |
| Other Current Assets | · | · | · | · | · | · | · | $457.0K | $405.0K | $395.0K | · | $181.0K | $208.0K | $294.0K | $237.0K | · | |
| Current Assets | $116M | $133M | $122M | $132M | $148M | $155M | $178M | $208M | $267M | $256M | $247M | $219M | $150M | $144M | $180M | $203M | |
| PP&E (Net) | $80.0K | $91.0K | $103.0K | $115.0K | $130.0K | $137.0K | $73.0K | $89.0K | $105.0K | $117.0K | $122.0K | $123.0K | $136.0K | $151.0K | · | $142.0K | |
| Accum. Depreciation | $100.0K | $200.0K | $200.0K | $100.0K | $100.0K | $100.0K | $100.0K | · | · | · | $100.0K | · | · | · | · | · | |
| Other Non-current Assets | $263.0K | $304.0K | $350.0K | $393.0K | $464.0K | $504.0K | $486.0K | $170.0K | $425.0K | $324.0K | $724.0K | $189.0K | $208.0K | $195.0K | $151.0K | $92.0K | |
| Total Assets | $116M | $134M | $123M | $142M | $172M | $204M | $239M | $267M | $289M | $301M | $310M | $286M | $177M | $188M | $197M | $203M | |
| Accounts Payable | $13M | $2M | $554.0K | $682.0K | $2M | $1M | $6M | $2M | $4M | $3M | $1M | $1M | $2M | $762.0K | $2M | $2M | |
| Accrued Liabilities | $8M | $5M | $10M | $8M | $12M | $7M | $7M | $5M | $4M | $3M | $6M | $3M | $2M | · | $3M | · | |
| Short-term Debt | $20M | $14M | $9M | $4M | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $47M | $29M | $30M | $22M | $25M | $19M | $28M | $20M | $15M | $8M | $13M | $6M | $9M | $9M | $8M | $7M | |
| Capital Leases | · | · | · | $39.0K | $77.0K | $114.0K | $150.0K | $185.0K | $219.0K | $252.0K | $284.0K | · | · | · | $0 | · | |
| Other Non-current Liabilities | · | · | $0 | $39.0K | $77.0K | $114.0K | $150.0K | · | · | · | $284.0K | · | · | · | · | · | |
| Total Liabilities | $59M | $46M | $52M | $49M | $55M | $49M | $57M | $50M | $45M | $39M | $43M | $6M | $9M | $9M | $8M | $7M | |
| Long-term Debt | $12M | $17M | $22M | $27M | $30M | $30M | $29M | $30M | $29M | $30M | $30M | · | · | · | $0 | · | |
| Total Debt | $20M | $14M | · | $4M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $7.0K | $7.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $4.0K | $4.0K | $4.0K | $4.0K | |
| Paid-in Capital | $557M | $555M | $517M | $514M | $512M | $509M | $507M | $505M | $502M | $500M | $489M | $487M | $363M | $361M | $360M | $355M | |
| Retained Earnings | $-500M | $-467M | $-446M | $-421M | $-395M | $-354M | $-325M | $-288M | $-258M | $-238M | $-223M | $-206M | $-193M | $-182M | $-170M | $-158M | |
| AOCI | $-13.0K | $21.0K | $83.0K | $109.0K | $23.0K | $15.0K | $-48.0K | $518.0K | $-164.0K | $-144.0K | $312.0K | $-509.0K | $-646.0K | · | $-751.0K | · | |
| Stockholders' Equity | $57M | $87M | $70M | $93M | $117M | $156M | $182M | $217M | $244M | $262M | $267M | $280M | $169M | $179M | $189M | $197M | |
| Liabilities + Equity | $116M | $134M | $123M | $142M | $172M | $204M | $239M | $267M | $289M | $301M | $310M | $286M | $177M | $188M | $197M | $203M | |
| Shares Outstanding | 72,314,714 | 72,227,580 | 60,575,369 | 60,573,425 | 60,573,425 | 60,573,425 | 60,094,083 | 60,079,778 | 60,079,778 | 60,079,778 | 57,910,461 | 57,910,461 | 41,025,062 | 41,025,062 | 41,025,062 | 40,503,124 |
Cash Flow 9
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $888.0K | $840.0K | |
| Operating Cash Flow | $-18M | $-24M | $-19M | $-30M | $-32M | $-34M | $-27M | $-25M | $-17M | $-18M | $-8M | $-13M | $-12M | $-10M | $-11M | $-9M | |
| CapEx | $0 | $0 | $0 | $0 | $9.0K | $79.0K | $0 | $0 | $5.0K | $11.0K | $14.0K | $7.0K | $0 | $0 | $35.0K | $81.0K | |
| Investing Cash Flow | $26M | $-14M | $26M | $41M | $38M | $29M | $30M | $-10M | $38M | $-9M | $-49M | $-92M | $11M | $-42M | $-20M | $56M | |
| Stock Issued | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8M | $-390.0K | $122M | $0 | $0 | $4M | · | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | $8M | · | · | · | · | · | · | |
| Financing Cash Flow | $-278.0K | $36M | $2.0K | $0 | $0 | $-36.0K | $-9.0K | $-42.0K | $-128.0K | $7M | $29M | $123M | $-145.0K | $0 | $4M | $-263.0K | |
| Taxes Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | · | |
| Free Cash Flow | · | $-24M | · | · | · | $-34M | · | · | · | $-18M | · | · | · | $-10M | · | · |
Profitability 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -22.7% | -12.3% | · | -12.9% | -17.8% | -11.4% | · | -10.8% | -8.8% | -6.1% | · | -5.3% | -6.0% | -5.5% | · | -4.9% | |
| ROE | -37.5% | -17.1% | · | -17.0% | -22.7% | -13.8% | · | -12.0% | -10.0% | -6.7% | · | -5.4% | -6.2% | -5.7% | · | -5.0% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 4.6 | · | 6.0 | 6.0 | 8.0 | · | 10.4 | 17.4 | 30.2 | · | 35.8 | 17.5 | 16.4 | · | 30.6 | |
| Quick Ratio | 2.4 | 4.4 | · | 5.8 | 5.8 | 7.7 | · | 10.1 | 17.0 | 29.8 | · | 35.3 | 7.9 | 7.1 | · | 30.3 | |
| Debt / Equity | 0.3 | 0.2 | · | 0.0 | · | · | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -17.8 | · | · | · | · | · | · |
Valuation (TTM) 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-121M | $-117M | · | $-126M | $-120M | $-94M | · | $-78M | $-60M | $-51M | · | $-47M | $-44M | $-41M | · | $-34M | |
| Market Cap | $193M | $170M | · | $104M | $70M | $67M | · | $149M | $145M | $243M | · | $240M | $197M | $167M | · | $406M | |
| Enterprise Value | $103M | $56M | · | $-19M | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | -1.4 | -1.2 | · | -0.8 | -0.6 | -0.7 | · | -1.9 | -2.2 | -3.9 | · | -3.9 | -4.5 | -4.0 | · | -11.9 | |
| P/B | 3.4 | 1.9 | · | 1.1 | 0.6 | 0.4 | · | 0.7 | 0.6 | 0.9 | · | 0.9 | 1.2 | 0.9 | · | 2.1 | |
| P / Tangible Book | 3.4 | 1.9 | · | 1.1 | 0.6 | 0.4 | · | 0.7 | 0.6 | 0.9 | · | 0.9 | 1.2 | 0.9 | · | 2.1 | |
| P / Cash Flow | · | -7.1 | · | · | · | -2.0 | · | · | · | -13.6 | · | · | · | -16.4 | · | · | |
| P / FCF | · | -7.1 | · | · | · | -1.9 | · | · | · | -13.6 | · | · | · | -16.4 | · | · | |
| EV / EBITDA | -3.2 | -2.7 | · | 0.7 | · | · | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | · | -2.3 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -71.2% | -81.8% | · | -122.8% | -172.4% | -142.7% | · | -53.6% | -45.9% | -25.9% | · | -25.5% | -22.2% | -25.1% | · | -8.4% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Net Income | $-121M | $-102M | $-52M | $-43M | $-101M |
| Diluted EPS | $-2.00 | $-1.71 | $-1.08 | $-1.06 | $-5.02 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | — | — | — | — |
| Current Ratio | 4.1 | 6.5 | 19.0 | 23.1 | — |
| Quick Ratio | 3.9 | 6.2 | 18.8 | 6.1 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-116M | $-86M | $-43M | $-35M | $-18M |
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Institutional owners (13F) 104 filers · $118.4M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 34 (+11 vs prior Q) | 17 (+12 vs prior Q) | 19 (-8 vs prior Q) | 13 (+1 vs prior Q) | +763K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| RA CAPITAL MANAGEMENT, L.P. | $56,050,426 | 20,992,669 | 47.32% | Shares |
| Sands Capital Alternatives, LLC | $9,932,680 | 3,720,105 | 8.39% | Shares |
| Alyeska Investment Group, L.P. | $6,554,193 | 2,454,754 | 5.53% | Shares |
| FRANKLIN RESOURCES INC | $6,154,606 | 2,305,096 | 5.20% | Shares |
| ADAR1 Capital Management, LLC | $5,637,262 | 2,111,334 | 4.76% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $4,464,432 | 1,672,072 | 3.77% | Shares |
| Knollwood Investment Advisory, LLC | $4,348,122 | 1,628,510 | 3.67% | Shares |
| Ikarian Capital, LLC | $2,813,638 | 1,053,797 | 2.38% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,635,594 | 986,917 | 2.23% | Shares |
| Hudson Bay Capital Management LP | $2,549,850 | 955,000 | 2.15% | Shares |
| Pathstone Holdings, LLC | $2,293,824 | 859,110 | 1.94% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,802,317 | 675,025 | 1.52% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,663,095 | 622,882 | 1.40% | Shares |
| STATE STREET CORP | $1,603,410 | 600,528 | 1.35% | Shares |
| TWO SIGMA ADVISERS, LP | $889,998 | 421,800 | 0.75% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $856,523 | 320,795 | 0.72% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $777,611 | 291,240 | 0.66% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $728,942 | 273,012 | 0.62% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $610,837 | 228,778 | 0.52% | Shares |
| NOMURA HOLDINGS INC | $506,531 | 189,712 | 0.43% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $470,377 | 176,171 | 0.40% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $336,698 | 126,104 | 0.28% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $307,314 | 115,099 | 0.26% | Shares |
| PFG Investments, LLC | $251,648 | 94,250 | 0.21% | Shares |
| CATALYST FINANCIAL PARTNERS LLC | $239,496 | 89,699 | 0.20% | Shares |
| MORGAN STANLEY | $239,021 | 89,521 | 0.20% | Shares |
| BANK OF AMERICA CORP /DE/ | $217,245 | 81,365 | 0.18% | Shares |
| GOLDMAN SACHS GROUP INC | $202,407 | 75,808 | 0.17% | Shares |
| Nuveen, LLC | $169,158 | 63,355 | 0.14% | Shares |
| MILLENNIUM MANAGEMENT LLC | $161,797 | 60,598 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $158,598 | 59,400 | 0.13% | Call option |
| Squarepoint Ops LLC | $139,777 | 52,351 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $136,301 | 51,049 | 0.12% | Shares |
| Prospera Financial Services Inc | $133,500 | 50,000 | 0.11% | Shares |
| Bank of New York Mellon Corp | $129,813 | 48,619 | 0.11% | Shares |
| DEUTSCHE BANK AG\ | $123,172 | 46,132 | 0.10% | Shares |
| Verdad Advisers, LP | $118,756 | 44,478 | 0.10% | Shares |
| Qube Research & Technologies Ltd | $103,099 | 38,614 | 0.09% | Shares |
| BARCLAYS PLC | $99,379 | 37,221 | 0.08% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $96,654 | 36,200 | 0.08% | Shares |
| RHUMBLINE ADVISERS | $93,535 | 35,034 | 0.08% | Shares |
| Rangeley Capital, LLC | $93,450 | 35,000 | 0.08% | Shares |
| XTX Topco Ltd | $85,798 | 32,134 | 0.07% | Shares |
| Intrepid Financial Planning Group LLC | $80,501 | 30,150 | 0.07% | Shares |
| Y-Intercept (Hong Kong) Ltd | $78,872 | 29,540 | 0.07% | Shares |
| Quantinno Capital Management LP | $71,473 | 26,769 | 0.06% | Shares |
| AXQ CAPITAL, LP | $65,217 | 24,426 | 0.06% | Shares |
| AMERICAN CENTURY COMPANIES INC | $64,443 | 24,136 | 0.05% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $58,102 | 21,761 | 0.05% | Shares |
| JPMORGAN CHASE & CO | $54,270 | 19,592 | 0.05% | Shares |
| Police & Firemen's Retirement System of New Jersey | $51,779 | 19,393 | 0.04% | Shares |
| CITIGROUP INC | $51,163 | 19,162 | 0.04% | Shares |
| Independent Advisor Alliance | $50,730 | 19,000 | 0.04% | Shares |
| Invesco Ltd. | $50,319 | 18,846 | 0.04% | Shares |
| PINNACLE ASSOCIATES LTD | $48,113 | 18,020 | 0.04% | Shares |
| Pinnacle Wealth Management Advisory Group, LLC | $48,113 | 18,020 | 0.04% | Shares |
| Factor Wealth Management LTD | $44,055 | 16,500 | 0.04% | Shares |
| Cubist Systematic Strategies, LLC | $40,876 | 23,904 | 0.03% | Shares |
| Spark Investment Management LLC | $39,249 | 14,700 | 0.03% | Shares |
| Nuveen Asset Management, LLC | $37,465 | 21,782 | 0.03% | Shares |
| MARSHALL WACE, LLP | $34,999 | 13,108 | 0.03% | Shares |
| TWO SIGMA SECURITIES, LLC | $31,752 | 11,892 | 0.03% | Shares |
| Balyasny Asset Management L.P. | $31,698 | 11,872 | 0.03% | Shares |
| SEI INVESTMENTS CO | $30,876 | 11,564 | 0.03% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $30,248 | 11,329 | 0.03% | Shares |
| Mesirow Financial Investment Management, Inc. | $30,184 | 11,305 | 0.03% | Shares |
| Bronte Capital Management Pty Ltd. | $28,612 | 10,716 | 0.02% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $27,891 | 10,446 | 0.02% | Shares |
| Point72 Asia (Singapore) Pte. Ltd. | $27,435 | 16,044 | 0.02% | Shares |
| Integrated Wealth Concepts LLC | $27,178 | 10,179 | 0.02% | Shares |
| Steward Partners Investment Advisory, LLC | $26,700 | 10,000 | 0.02% | Shares |
| FMR LLC | $19,956 | 7,474 | 0.02% | Shares |
| NORTHERN TRUST CORP | $19,681 | 7,371 | 0.02% | Shares |
| OSAIC HOLDINGS, INC. | $19,624 | 7,350 | 0.02% | Shares |
| Vanguard Global Advisers, LLC | $17,846 | 6,684 | 0.02% | Shares |
| BlackRock, Inc. | $17,067 | 6,392 | 0.01% | Shares |
| VANGUARD GROUP INC | $14,103 | 6,684 | 0.01% | Shares |
| Legal & General Group Plc | $12,309 | 4,610 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $11,452 | 4,289 | 0.01% | Shares |
| Russell Investments Group, Ltd. | $10,089 | 3,779 | 0.01% | Shares |
| WELLS FARGO & COMPANY/MN | $8,277 | 3,100 | 0.01% | Shares |
| PNC Financial Services Group, Inc. | $8,224 | 3,080 | 0.01% | Shares |
| Rockefeller Capital Management L.P. | $8,010 | 3,000 | 0.01% | Shares |
| Tower Research Capital LLC (TRC) | $7,740 | 2,899 | 0.01% | Shares |
| TFC Financial Management, Inc. | $6,675 | 2,500 | 0.01% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $4,720 | 2,000 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $4,000 | 1,561 | 0.00% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $3,281 | 1,229 | 0.00% | Shares |
| US BANCORP \DE\ | $2,670 | 1,000 | 0.00% | Shares |
| Sterling Capital Management LLC | $2,542 | 952 | 0.00% | Shares |
| GROUP ONE TRADING LLC | $1,928 | 722 | 0.00% | Shares |
| STIFEL FINANCIAL CORP | $1,335 | 500 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $1,087 | 407 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $777 | 291 | 0.00% | Shares |
| ACADIAN ASSET MANAGEMENT LLC | $718 | 270,338 | 0.00% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $534 | 200 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $534 | 200 | 0.00% | Shares |
| CWM, LLC | $205 | 87 | 0.00% | Shares |
| PRICE T ROWE ASSOCIATES INC /MD/ | $106 | 39,327 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $104 | 39 | 0.00% | Shares |
Company insiders 16 insiders · 6 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Daniel Joseph Oconnell | President and CEO | Jan. 17, 2023 A | 116,685 | 0 | 0 | $0 |
| Matt Zuga | CFO and Chief Business Officer | Jan. 17, 2023 A | 109,687 | 0 | 0 | $0 |
| Russell Barton | Chief Operating Officer | Jan. 17, 2023 A | 26,700 | 0 | 0 | $0 |
| Amy Schacterle | Chief Regulatory Officer | Nov. 5, 2024 A | — | 0 | 0 | $0 |
| Eric Siemers | Chief Medical Officer | Jan. 17, 2023 A | 26,700 | 0 | 0 | $0 |
| Derek M Meisner | Chief Legal Office & Corp Sec | Jan. 17, 2023 A | 26,800 | 0 | 0 | $0 |
| Derrell Porter | Director | June 17, 2026 M | 35,500 | 0 | 3 | $-75,388 |
| Nathan B Fountain | Director | June 9, 2026 S | 48,150 | 0 | 1 | $-14,273 |
| Laura Stoppel | Director | June 3, 2026 A | 48,300 | 0 | 0 | $0 |
| John A Stalfort III | Director | June 3, 2026 A | 220,624 | 0 | 0 | $0 |
| Jeffrey L. Ives | Director | June 3, 2026 A | 48,300 | 0 | 0 | $0 |
| George Golumbeski | Director | June 3, 2026 A | 35,500 | 0 | 0 | $0 |
| Kimberlee C Drapkin | Director | June 3, 2026 A | 48,300 | 0 | 0 | $0 |
| Jeffrey Sevigny | Director | June 15, 2022 A | — | 0 | 0 | $0 |
| Robert D. Hardie | 10% owner | July 6, 2021 C | 657,985 | 0 | 0 | $0 |
| Paul B Manning | 10% owner | July 6, 2021 C | 657,985 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, RA Capital Healthcare Fund, L.P. ×5 filings | March 17, 2026 | 29.50% | Amendment | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 12 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IBRN · iShares Trust | 0.15% | 5,024 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.02% | 158,629 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 41,102 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.01% | 425,827 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.00% | 1,015,063 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 24,136 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 87,781 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 9,637 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 513,511 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,118,322 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 273,215 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 6,478 SH | Aug. 8, 2026 | Daily |