ALDX Aldeyra Therapeutics, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$1.17
· of 52w range
· above low
· to high
$1.0752w low
$5.9352w high
Market Cap (MRQ)
$71M
P/E
-2.1
EPS
$-0.56
your badges
52W Range
$1–$6
Analyst Rating
STRONG BUY
Price Target
$7
P/E
-2.1
ROE
-68.0%
Net Profit Margin
·
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ALDX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.17
Market Cap (MRQ)
$71M
P/E
-2.1
EPS
$-0.56
ROE
-68.0%
Debt/Equity (MRQ)
0.0
52W Range
$1–$6
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10-Year Performance Revenue, net income, margins and EPS trends
EPS$-0.562021-12-31 → 2025-12-31
Free Cash Flow·2016-12-31 → 2023-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ALDX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -2.15Y avg ≈-6.1 | ≈-6.1 | · | · | |
| P/B (MRQ) | 1.95Y avg ≈3.3 | ≈3.3 | 3.7 | Fair value | |
| EV / EBITDA | -0.4 | · | · | · | |
| Price / Cash Flow | -2.15Y avg ≈-7.2 | ≈-7.2 | · | · | |
| Price / Tangible Book | 1.65Y avg ≈3.4 | ≈3.4 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ALDX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -38.3%5Y avg ≈-32.5% | ≈-32.5% | -54.0% | Top tier | |
| ROE | -68.0%5Y avg ≈-42.0% | ≈-42.0% | -65.7% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | ALDX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.05Y avg ≈0.2 | ≈0.2 | 0.0 | Low debt | |
| Current Ratio (MRQ) | 4.95Y avg ≈9.7 | ≈9.7 | 4.4 | In line | |
| Quick Ratio | 2.5 | · | 2.5 | In line | |
| Long-Term Debt / Equity | 0.05Y avg ≈0.0 | ≈0.0 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
28.9%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 5, 2026 | $-0.09 | $-0.10 | 6.2% |
| March 31, 2026 | May 12, 2026 | $-0.06 | $-0.10 | 39.7% |
| Dec. 31, 2025 | $-0.10 | $-0.17 | 41.7% | |
| Sept. 30, 2025 | $-0.13 | $-0.25 | 48.0% | |
| June 30, 2025 | $-0.13 | $-0.25 | 48.0% | |
| March 31, 2025 | $-0.17 | $-0.23 | 26.0% | |
| Dec. 31, 2024 | $-0.27 | $-0.25 | -7.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $26M | $48M | $29M | $47M | $45M | $25M | $44M | $30M | $16M | $13M | $8M | $4M | |
| SG&A Expense | $10M | $12M | $13M | $15M | $11M | $10M | $12M | $10M | $6M | $6M | $4M | $4M | |
| Operating Income | $-35M | $-60M | $-43M | $-63M | $-56M | $-36M | $-63M | $-40M | $-22M | $-19M | $-12M | $-7M | |
| Interest Expense | · | · | $2M | $2M | $2M | $2M | $603.8K | $146.8K | $113.5K | $105.5K | $112.3K | $244.2K | |
| Interest Income | $3M | $6M | $7M | $2M | $185.4K | $292.2K | $2M | $952.7K | $261.3K | $102.0K | $11.1K | $3 | |
| Other Non-op | $1M | $4M | $5M | $655.4K | $-2M | $-2M | $937.5K | $805.9K | $147.8K | $-3.5K | $-101.2K | $2M | |
| Pretax Income | · | · | · | · | $-58M | $-38M | $-62M | $-39M | · | · | · | · | |
| Income Tax | $0 | $1.0K | $0 | $0 | $0 | $-479.3K | $-1M | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-34M | $-56M | $-38M | $-62M | $-58M | $-38M | $-61M | $-39M | $-22M | $-19M | $-12M | $-5M | |
| EPS (Basic) | $-0.56 | $-0.94 | $-0.64 | $-1.06 | $-1.07 | · | · | · | · | · | $-1.40 | $-2.51 | |
| EPS (Diluted) | $-0.56 | $-0.94 | $-0.64 | $-1.06 | $-1.07 | · | · | · | · | · | $-1.40 | $-3.09 | |
| Shares (Basic) | 60,056,557 | 59,484,794 | 58,943,205 | 58,405,897 | 54,042,103 | · | · | · | · | · | 8,633,897 | 3,818,157 | |
| Shares (Diluted) | 60,056,557 | 59,484,794 | 58,943,205 | 58,405,897 | 54,042,103 | · | · | · | · | · | 8,633,897 | 3,850,612 | |
| EBITDA | $-35M | · | $-43M | · | $-56M | $-36M | $-63M | $-40M | $-22M | $-19M | $-12M | $-7M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $70M | $55M | · | $144M | $230M | $78M | $44M | $47M | $20M | $12M | $15M | $9M | |
| Short-term Investments | · | $47M | · | $30M | · | · | · | $46M | $23M | $13M | $13M | · | |
| Prepaid Expense | $2M | $3M | $5M | $7M | $3M | $5M | $2M | $1M | $1M | $218.7K | $497.6K | $232.6K | |
| Other Current Assets | · | $0 | $0 | $3M | $28.8K | · | · | · | · | · | · | · | |
| Current Assets | $72M | $104M | $148M | $181M | $233M | $83M | $75M | $95M | $44M | $25M | $28M | $9M | |
| PP&E (Net) | $0 | $0 | $5.8K | $19.3K | $32.5K | $59.9K | $148.4K | $235.2K | $43.3K | $56.4K | $80.3K | $13.0K | |
| Total Assets | $72M | $105M | $148M | $181M | $233M | $83M | $76M | $95M | $44M | $25M | $28M | $9M | |
| Accounts Payable | $158.5K | $180.5K | $1M | $133.6K | $1M | $381.6K | $808.3K | $3M | $1M | $275.4K | $851.2K | $341.3K | |
| Accrued Liabilities | $6M | $12M | $6M | $14M | $11M | $8M | $12M | $5M | $2M | $2M | $1M | $908.7K | |
| Current Liabilities | $28M | $19M | $22M | $15M | $12M | $12M | $13M | $8M | $3M | $2M | $2M | $1M | |
| Capital Leases | $0 | $0 | $271.6K | $0 | $125.2K | $0 | $0 | · | · | · | · | · | |
| Total Liabilities | $28M | $34M | $29M | $30M | $27M | $24M | $27M | $8M | $5M | $4M | $3M | $3M | |
| Long-term Debt | $15M | $15M | $15M | $16M | $16M | $16M | $16M | $16M | $1M | $1M | $1M | $1M | |
| Total Debt | $15M | · | $15M | · | $16M | $11M | $15M | · | $1M | $1M | $1M | $1M | |
| Common Stock | $60.2K | $59.6K | $59.2K | $58.6K | $58.1K | $38.7K | $28.7K | $26.2K | $19.1K | $12.6K | $9.7K | $5.6K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | $53M | |
| Retained Earnings | $-484M | $-450M | $-394M | $-357M | $-295M | $-237M | $-199M | $-139M | $-100M | $-77M | $-59M | $-47M | |
| AOCI | $0 | $37.4K | $0 | $-103.9K | $0 | $0 | $5.9K | $-9.2K | $-17.8K | $129 | $-8.4K | · | |
| Stockholders' Equity | $44M | $71M | $120M | $151M | $206M | $60M | $48M | $87M | $40M | $22M | $25M | $6M | |
| Liabilities + Equity | $72M | $105M | $148M | $181M | $233M | $83M | $76M | $95M | $44M | $25M | $28M | $9M | |
| Shares Outstanding | 60,162,773 | 59,648,278 | 59,195,951 | 58,560,078 | 58,081,215 | 38,667,491 | 28,656,832 | 26,244,435 | 19,137,639 | 12,576,325 | 9,712,521 | 5,565,415 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $6M | $8M | $6M | $8M | $7M | $7M | $8M | $4M | $3M | $3M | $2M | $2M | |
| Operating Cash Flow | $-33M | $-43M | $-30M | $-57M | $-43M | $-37M | $-45M | $-30M | $-19M | $-15M | $-9M | $-5M | |
| CapEx | · | · | $0 | $16.3K | $7.8K | · | $9.5K | $263.0K | $24.8K | $11.8K | $86.1K | $14.1K | |
| Investing Cash Flow | $48M | $-45M | $30M | $-30M | $-7.8K | $29M | $18M | $-23M | $-10M | · | · | · | |
| Debt Issued | · | · | · | · | · | · | $14M | · | · | · | · | · | |
| Net Debt Issued | · | · | · | · | · | · | $14M | · | · | · | · | · | |
| Stock Issued | · | · | · | $0 | $190M | $41M | $8M | $82M | $37M | $13M | $29M | $10M | |
| Net Stock Activity | · | · | · | · | $190M | $41M | $8M | $82M | $37M | · | $29M | $10M | |
| Financing Cash Flow | $1M | $-171.4K | $-1M | $1M | $194M | $42M | $24M | $81M | $37M | · | · | · | |
| Net Change in Cash | $16M | $-88M | $-2M | $-85M | $152M | $33M | $-3M | $27M | $8M | $-3M | $6M | $5M | |
| Free Cash Flow | · | · | $-30M | · | $-43M | · | $-45M | $-30M | $-19M | $-15M | $-9M | $-5M | |
| Levered FCF | · | · | · | · | $-44M | · | $-46M | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -38.3% | · | -22.8% | · | -36.5% | -47.3% | -71.3% | -55.9% | -64.4% | -70.0% | -65.4% | -82.8% | |
| ROE | -68.0% | · | -30.9% | · | -27.2% | -58.4% | -122.9% | -67.5% | -73.0% | -80.4% | -77.6% | 30.6% | |
| ROIC | · | · | · | · | -25.4% | -50.7% | -98.6% | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.6 | · | 6.6 | · | 19.8 | 6.7 | 5.8 | 11.2 | 13.1 | 10.9 | 13.3 | 6.6 | |
| Quick Ratio | 2.5 | · | · | · | 19.5 | 6.3 | 3.4 | 11.0 | 12.8 | 10.8 | 13.0 | 6.4 | |
| Debt / Equity | 0.3 | · | 0.1 | · | 0.1 | 0.2 | 0.3 | · | 0.0 | 0.1 | 0.1 | 0.2 | |
| LT Debt / Equity | 0.0 | · | 0.0 | · | 0.1 | 0.2 | 0.3 | · | 0.0 | 0.1 | 0.0 | 0.2 | |
| Interest Coverage | · | · | -20.7 | · | -32.3 | -19.1 | -104.5 | -270.4 | -198.2 | -177.2 | -106.8 | -29.8 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.74 | · | $2.02 | · | $3.54 | $1.54 | $1.68 | $3.30 | $2.07 | $1.72 | $2.56 | · | |
| Cash Flow / Share | $-0.56 | · | $-0.51 | · | · | · | · | · | · | · | $-1.08 | $-1.24 | |
| Cash / Share | $1.16 | · | · | · | $3.96 | $2.01 | $1.55 | $1.80 | $1.05 | $0.96 | $1.51 | · | |
| EPS (TTM) | $-0.56 | $-0.94 | $-0.64 | $-1.06 | $-1.07 | $-1.45 | $-1.45 | $-1.45 | $-1.45 | $-1.45 | $-1.40 | $-3.09 |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-34M | $-56M | $-38M | $-62M | $-58M | $-38M | $-61M | $-39M | $-22M | $-19M | $-12M | $-5M | |
| Market Cap | $312M | · | $208M | · | $232M | $265M | $166M | $218M | $130M | $67M | $66M | · | |
| Enterprise Value | $257M | · | · | · | $18M | $199M | $137M | · | $89M | $44M | $40M | · | |
| P/E | -9.2 | -5.3 | -5.5 | -6.6 | -3.7 | -4.7 | -4.0 | -5.7 | -4.7 | -3.7 | -4.8 | -2.3 | |
| P/B | 7.0 | · | 1.7 | · | 1.1 | 4.5 | 3.5 | 2.5 | 3.3 | 3.1 | 2.6 | · | |
| P / Tangible Book | 7.0 | 4.2 | 1.7 | 2.7 | 1.1 | 4.5 | · | · | · | · | · | · | |
| P / Cash Flow | -9.3 | · | -6.9 | · | -5.5 | -7.1 | -3.7 | -7.3 | -6.8 | -4.4 | -7.1 | · | |
| P / FCF | · | · | -6.9 | · | -5.5 | · | -3.7 | -7.2 | -6.8 | -4.4 | -7.0 | · | |
| EV / EBITDA | -7.3 | · | · | · | -0.3 | -5.5 | -2.2 | · | -3.9 | -2.3 | -3.3 | · | |
| EV / FCF | · | · | · | · | -0.4 | · | -3.0 | · | -4.6 | -2.9 | -4.2 | · | |
| Earnings Yield | -10.8% | -18.8% | -18.2% | -15.2% | -26.8% | -21.1% | -25.0% | -17.5% | -21.3% | -27.1% | -20.6% | -42.8% |
Income Statement
| 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 | $3M | $2M | $4M | $5M | $9M | $7M | $15M | $12M | $15M | $6M | $4M | $7M | $7M | $11M | $9M | $12M | |
| SG&A Expense | $2M | $1M | $2M | $3M | $2M | $3M | $2M | $4M | $3M | $3M | $2M | $3M | $3M | $6M | $5M | $3M | |
| Operating Income | $-6M | $-4M | $-7M | $-8M | $-10M | $-10M | $-17M | $-16M | $-18M | $-9M | $-6M | $-10M | $-10M | $-17M | $-14M | $-15M | |
| Interest Expense | · | · | · | · | · | · | · | · | $477.6K | $498.5K | · | $538.7K | $527.1K | $491.3K | $460.8K | $416.9K | |
| Interest Income | $400.3K | $563.0K | $681.6K | $788.7K | $872.0K | $981.5K | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $648.2K | |
| Other Non-op | $400.2K | $94.3K | $206.4K | $312.8K | $401.4K | $498.0K | $769.0K | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $794.6K | $231.3K | |
| Net Income | $-5M | $-3M | $-6M | $-8M | $-10M | $-10M | $-16M | $-15M | $-17M | $-8M | $-5M | $-8M | $-9M | $-16M | $-13M | $-15M | |
| EPS (Basic) | $-0.09 | $-0.06 | $-0.10 | $-0.13 | $-0.16 | $-0.17 | $-0.27 | $-0.25 | $-0.28 | $-0.14 | $-0.08 | $-0.14 | $-0.15 | $-0.27 | $-0.22 | $-0.25 | |
| EPS (Diluted) | $-0.09 | $-0.06 | $-0.10 | $-0.13 | $-0.16 | $-0.17 | $-0.27 | $-0.25 | $-0.28 | $-0.14 | $-0.08 | $-0.14 | $-0.15 | $-0.27 | $-0.22 | $-0.25 | |
| Shares (Basic) | 60,321,068 | 60,319,289 | · | 60,126,850 | 60,045,530 | 59,887,277 | · | 59,530,113 | 59,414,489 | 59,414,489 | · | 58,990,189 | 58,791,920 | 58,791,603 | · | 58,457,863 | |
| Shares (Diluted) | 60,321,068 | 60,319,289 | · | 60,126,850 | 60,045,530 | 59,887,277 | · | 59,530,113 | 59,414,489 | 59,414,489 | · | 58,990,189 | 58,791,920 | 58,791,603 | · | 58,457,863 | |
| EBITDA | $-6M | $-4M | · | $-8M | $-10M | $-10M | · | $-16M | $-18M | $-9M | · | $-10M | $-10M | $-17M | · | $-15M |
Balance Sheet
| 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 | · | · | $70M | $59M | $41M | $50M | $55M | $68M | $71M | $102M | · | · | · | · | $144M | $129M | |
| Short-term Investments | · | · | · | $16M | $41M | $40M | $47M | $45M | $49M | $31M | · | · | · | · | $30M | $57M | |
| Prepaid Expense | $2M | $1M | $2M | $2M | $3M | $3M | $3M | $4M | $5M | $8M | $5M | $4M | $4M | $3M | $7M | $4M | |
| Other Current Assets | · | · | · | · | · | $755.5K | · | · | · | · | · | $0 | $0 | $23.7K | $3M | · | |
| Current Assets | $47M | $66M | $72M | $77M | $85M | $93M | $104M | $117M | $126M | $141M | $148M | $147M | $155M | $168M | $181M | $189M | |
| PP&E (Net) | $20.5K | · | · | · | · | · | · | $1.4K | $2.7K | $4.1K | $5.8K | $7.8K | $9.8K | $12.5K | $19.3K | $26.7K | |
| Total Assets | $48M | $66M | $72M | $78M | $85M | $93M | $105M | $117M | $126M | $141M | $148M | $147M | $156M | $168M | $181M | $190M | |
| Accounts Payable | $137.5K | $141.4K | $158.5K | $13.4K | $1M | $346.1K | $180.5K | $186.9K | $254.4K | $280.3K | $1M | $247.2K | $270.8K | $429.7K | $133.6K | $1M | |
| Accrued Liabilities | $3M | $3M | $6M | $7M | $7M | $8M | $12M | $10M | $6M | $6M | $6M | $8M | $9M | $14M | $14M | $10M | |
| Current Liabilities | $10M | $24M | $28M | $28M | $30M | $14M | $19M | $17M | $28M | $22M | $22M | $22M | $16M | $16M | $15M | $24M | |
| Capital Leases | $0 | $0 | $0 | $72.5K | $143.4K | $212.8K | · | $70.2K | $138.9K | $206.0K | $271.6K | · | · | · | $0 | $0 | |
| Total Liabilities | $10M | $24M | $28M | $29M | $30M | $30M | $34M | $32M | $28M | $28M | $29M | $24M | $26M | $31M | $30M | $27M | |
| Long-term Debt | · | $15M | $15M | $15M | $15M | $15M | $15M | $16M | $15M | $15M | $15M | $16M | $16M | $16M | $16M | · | |
| Total Debt | $0 | $15M | · | $15M | $15M | $15M | · | $15M | $15M | $15M | · | $16M | $16M | $16M | · | $3M | |
| Common Stock | $60.3K | $60.3K | $60.2K | $60.2K | $60.0K | $60.0K | $59.6K | $59.5K | $59.4K | $59.4K | $59.2K | $59.2K | $58.8K | $58.8K | $58.6K | $58.6K | |
| Retained Earnings | $-493M | $-487M | $-484M | $-477M | $-470M | $-460M | $-450M | $-434M | $-419M | $-402M | $-394M | $-390M | $-381M | $-372M | $-357M | $-344M | |
| AOCI | · | · | $0 | $815 | $-11.0K | $1.6K | $37.4K | $66.5K | $-9.7K | $-3.0K | $0 | $0 | $0 | $0 | $-103.9K | $-285.7K | |
| Stockholders' Equity | $38M | $42M | $44M | $49M | $55M | $64M | $71M | $85M | $98M | $113M | $120M | $123M | $130M | $137M | $151M | $162M | |
| Liabilities + Equity | $48M | $66M | $72M | $78M | $85M | $93M | $105M | $117M | $126M | $141M | $148M | $147M | $156M | $168M | $181M | $190M | |
| Shares Outstanding | 60,321,068 | 60,321,068 | 60,162,773 | 60,162,773 | 60,045,530 | 60,045,530 | 59,648,278 | 59,549,598 | 59,414,489 | 59,414,489 | 59,195,951 | 59,187,326 | 58,801,207 | 58,791,603 | 58,560,078 | 58,560,078 |
Cash Flow
| 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 | $2M | $-987.6K | $1M | $3M | $196.6K | $2M | $1M | $3M | $2M | $2M | $-800.3K | $789.2K | $2M | $4M | $3M | $2M | |
| Operating Cash Flow | $-5M | $-5M | $-5M | $-7M | $-9M | $-12M | $-12M | $-8M | $-13M | $-10M | $500.4K | $-8M | $-13M | $-9M | $-11M | $-13M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | |
| Investing Cash Flow | $-23.1K | $0 | $16M | $25M | $-554.1K | $7M | $-2M | $5M | $-18M | $-30M | $0 | $0 | $0 | $30M | $27M | $19M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Financing Cash Flow | $-15M | $71.1K | $0 | $120.7K | $0 | $1M | $7.8K | $-197.4K | $0 | $18.2K | $-1M | $-315.8K | $5.3K | $52.6K | $0 | $1M | |
| Net Change in Cash | $-20M | $-5M | $11M | $18M | $-9M | $-4M | $-14M | $-3M | $-31M | $-40M | $-511.9K | $-8M | $-13M | $21M | $16M | $8M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | · | $-9M | · | · |
Profitability
| 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 | -8.2% | -4.3% | · | -7.9% | -9.3% | -8.5% | · | -11.4% | -12.0% | -5.2% | · | -4.9% | -5.0% | -8.0% | · | -6.7% | |
| ROE | -11.7% | -6.5% | · | -11.5% | -12.7% | -11.2% | · | -14.5% | -14.8% | -6.5% | · | -5.7% | -5.9% | -9.5% | · | -7.6% |
Liquidity & Solvency
| 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 | 4.9 | 2.7 | · | 2.7 | 2.9 | 6.5 | · | 6.8 | 4.6 | 6.5 | · | 6.8 | 10.0 | 10.5 | · | 7.8 | |
| Quick Ratio | · | · | · | 2.6 | 2.8 | 6.3 | · | 6.6 | 4.4 | 6.1 | · | · | · | · | · | 7.7 | |
| Debt / Equity | 0.0 | 0.4 | · | 0.3 | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | |
| LT Debt / Equity | · | 0.0 | · | 0.0 | 0.0 | 0.2 | · | 0.2 | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.1 | · | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | -37.7 | -18.8 | · | -17.7 | -19.6 | -34.2 | · | -35.5 |
Per Share
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.63 | $0.70 | · | $0.82 | $0.92 | $1.06 | · | $1.43 | $1.65 | $1.91 | · | $2.08 | $2.21 | $2.33 | · | $2.77 | |
| Cash Flow / Share | · | $-0.08 | · | · | · | $-0.21 | · | · | · | $-0.17 | · | · | · | $-0.16 | · | · | |
| Cash / Share | · | · | · | $0.99 | $0.69 | $0.84 | · | $1.14 | $1.20 | $1.73 | · | · | · | · | · | $2.20 | |
| EPS (TTM) | $-0.38 | $-0.45 | · | $-0.73 | $-0.85 | $-0.97 | · | $-0.75 | $-0.64 | $-0.51 | · | $-0.78 | $-0.89 | $-1.04 | · | $-1.11 |
Valuation (TTM)
| 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 | $-23M | $-27M | · | $-43M | $-51M | $-58M | · | $-45M | $-38M | $-30M | · | $-46M | $-52M | $-61M | · | $-65M | |
| Market Cap | $128M | $102M | · | $314M | $230M | $345M | · | $321M | $197M | $194M | · | $395M | $493M | $584M | · | $313M | |
| Enterprise Value | · | · | · | $254M | $163M | $270M | · | $224M | $92M | $76M | · | · | · | · | · | $131M | |
| P/E | -5.6 | -3.8 | · | -7.2 | -4.5 | -5.9 | · | -7.2 | -5.2 | -6.4 | · | -8.6 | -9.4 | -9.5 | · | -4.8 | |
| P/B | 3.4 | 2.4 | · | 6.4 | 4.2 | 5.4 | · | 3.8 | 2.0 | 1.7 | · | 3.2 | 3.8 | 4.3 | · | 1.9 | |
| P / Tangible Book | 3.4 | 2.4 | · | 6.4 | 4.2 | 5.4 | · | 3.8 | 2.0 | 1.7 | · | 3.2 | 3.8 | 4.3 | · | 1.9 | |
| P / Cash Flow | · | -19.9 | · | · | · | -27.7 | · | · | · | -19.5 | · | · | · | -61.8 | · | · | |
| Earnings Yield | -17.8% | -26.6% | · | -14.0% | -22.2% | -16.9% | · | -13.9% | -19.3% | -15.6% | · | -11.7% | -10.6% | -10.5% | · | -20.8% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Net Income | $-34M | $-56M | $-38M | $-62M | $-58M |
| Diluted EPS | $-0.56 | $-0.94 | $-0.64 | $-1.06 | $-1.07 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | · | 0.1 | · | 0.1 |
| Current Ratio | 2.6 | · | 6.6 | · | 19.8 |
| Quick Ratio | 2.5 | · | · | · | 19.5 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | · | $-30M | · | $-43M |
Institutional owners (13F) 121 filers · $96.3M 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.
Holders
121
Value held
$96.3M
New positions
19
Exited positions
37
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 19 (-5 vs prior Q) | 37 (+8 vs prior Q) | 33 (-18 vs prior Q) | 45 (+4 vs prior Q) | -946K |
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 |
|---|---|---|---|---|
| VANGUARD GROUP INC | $19,159,173 | 3,698,682 | 19.90% | Shares |
| Knoll Capital Management, LLC | $11,662,849 | 5,475,516 | 12.11% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $7,990,819 | 3,751,558 | 8.30% | Shares |
| KINGDON CAPITAL MANAGEMENT, L.L.C. | $5,649,431 | 2,652,315 | 5.87% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $5,030,625 | 2,361,796 | 5.22% | Shares |
| D. E. Shaw & Co., Inc. | $4,132,920 | 1,940,338 | 4.29% | Shares |
| MARSHALL WACE, LLP | $3,209,855 | 1,506,974 | 3.33% | Shares |
| 683 Capital Management, LLC | $3,088,500 | 1,450,000 | 3.21% | Shares |
| JANE STREET GROUP, LLC | $2,928,995 | 1,375,115 | 3.04% | Shares |
| BlackRock, Inc. | $2,677,927 | 1,257,243 | 2.78% | Shares |
| Qube Research & Technologies Ltd | $2,404,350 | 1,128,803 | 2.50% | Shares |
| ARDSLEY ADVISORY PARTNERS LP | $2,076,750 | 975,000 | 2.16% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,878,660 | 882,000 | 1.95% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,693,058 | 794,863 | 1.76% | Shares |
| GOLDMAN SACHS GROUP INC | $1,545,196 | 725,444 | 1.60% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $1,377,769 | 646,840 | 1.43% | Shares |
| MORGAN STANLEY | $1,295,723 | 608,321 | 1.35% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,270,111 | 596,029 | 1.32% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,126,664 | 529,083 | 1.17% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $897,109 | 421,178 | 0.93% | Shares |
| CITADEL ADVISORS LLC | $807,576 | 379,144 | 0.84% | Shares |
| MILLENNIUM MANAGEMENT LLC | $767,546 | 360,350 | 0.80% | Shares |
| UBS Group AG | $643,132 | 301,940 | 0.67% | Shares |
| ARDSLEY ADVISORY PARTNERS LP | $639,000 | 300,000 | 0.66% | Call option |
| VANGUARD FIDUCIARY TRUST CO | $635,255 | 298,242 | 0.66% | Shares |
| TWO SIGMA ADVISERS, LP | $631,442 | 121,900 | 0.66% | Shares |
| XTX Topco Ltd | $542,675 | 254,777 | 0.56% | Shares |
| Cubist Systematic Strategies, LLC | $529,178 | 101,375 | 0.55% | Shares |
| WOODSTOCK CORP | $517,070 | 242,756 | 0.54% | Shares |
| STATE STREET CORP | $497,939 | 233,774 | 0.52% | Shares |
| IEQ CAPITAL, LLC | $440,043 | 206,593 | 0.46% | Shares |
| CANTOR FITZGERALD, L. P. | $426,000 | 200,000 | 0.44% | Shares |
| Caption Management, LLC | $351,450 | 165,000 | 0.37% | Shares |
| CITADEL ADVISORS LLC | $348,468 | 163,600 | 0.36% | Call option |
| WELLS FARGO & COMPANY/MN | $345,776 | 162,336 | 0.36% | Shares |
| Invesco Ltd. | $339,820 | 159,540 | 0.35% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $334,938 | 157,248 | 0.35% | Shares |
| Palo Alto Investors LP | $331,660 | 155,709 | 0.34% | Shares |
| Point72 Asset Management, L.P. | $328,889 | 154,408 | 0.34% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $328,642 | 154,292 | 0.34% | Shares |
| Man Group plc | $325,279 | 152,713 | 0.34% | Shares |
| Jain Global LLC | $280,099 | 131,502 | 0.29% | Shares |
| TWO SIGMA INVESTMENTS, LP | $272,318 | 127,849 | 0.28% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $250,488 | 117,600 | 0.26% | Call option |
| NORTHERN TRUST CORP | $231,932 | 108,888 | 0.24% | Shares |
| JPMORGAN CHASE & CO | $224,635 | 109,578 | 0.23% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $208,156 | 97,726 | 0.22% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $200,859 | 94,300 | 0.21% | Shares |
| Squarepoint Ops LLC | $200,322 | 94,048 | 0.21% | Shares |
| Russell Investments Group, Ltd. | $192,450 | 90,353 | 0.20% | Shares |
Company insiders 19 insiders · 9 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Todd C Brady | President and CEO | June 3, 2026 P | 1,721,298 | 1 | 0 | $417,500 |
| Bruce Greenberg | Interim Chief Financial Officer | Aug. 12, 2024 S | 126,382 | 0 | 0 | $0 |
| Joshua Reed | Chief Financial Officer | March 30, 2022 A | 274,825 | 0 | 0 | $0 |
| Stephen J Tulipano | Chief Financial Officer | March 6, 2018 A | 8,563 | 0 | 0 | $0 |
| Scott Young | Chief Operating Officer | March 16, 2016 A | · | 0 | 0 | $0 |
| Michael Alfieri | Principal Financial Officer | March 18, 2026 P | 7,500 | 1 | 0 | $7,100 |
| Stephen Machatha | Chief Development Officer | Aug. 11, 2025 S | 221,799 | 0 | 0 | $0 |
| David Mcmullin | Chief Commercial Officer | March 2, 2020 A | 255,183 | 0 | 0 | $0 |
| David J Clark | Chief Medical Officer | Sept. 6, 2019 P | 17,878 | 0 | 0 | $0 |
| Nancy Miller-Rich | Director | June 9, 2026 A | 922 | 0 | 0 | $0 |
| Ben Bronstein | Director | June 9, 2026 A | 28,248 | 0 | 0 | $0 |
| Neal Walker | Director | June 9, 2026 A | 15,854 | 0 | 0 | $0 |
| William D Clark | Director | June 9, 2026 A | · | 0 | 0 | $0 |
| Gary M. Phillips | Director | June 9, 2026 A | 14,812 | 0 | 0 | $0 |
| Darlene M Deptula-Hicks | Director | June 9, 2026 A | · | 0 | 0 | $0 |
| DOUGLAS RICHARD | Director | June 9, 2026 A | 195,000 | 1 | 0 | $98,000 |
| Martin Joseph Joyce | Director | June 10, 2025 A | 23,967 | 0 | 0 | $0 |
| TREU JESSE I | Director | June 9, 2020 A | 8,763 | 0 | 0 | $0 |
| Boyd C. Clarke | Director | June 9, 2016 A | 15,500 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 7 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 |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.46% | 80,989 SH | Oct. 2, 2026 | Daily |
| IWC · iShares Trust | 0.02% | 186,296 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 103,249 SH | Oct. 2, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 28,130 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 521,515 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,784,433 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.00% | 155,211 SH | Aug. 19, 2026 | Daily |
ALDX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 12 analysts
BUY
Median target
$5.00
+327.4%
5 41.7%
Strong Buy
5 41.7%
Buy
2 16.7%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-10-01Mean target $6.60 +464.1%
← Below all targets
Current price $1.17
Low$2.00
Mean$6.60
High$13.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
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Source: SEC 10-Q filed Aug 6, 2026