ALT Altimmune, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 12, 2026
$2.74
· of 52w range
· above low
· to high
$2.5652w low
$6.4452w high
Market Cap (MRQ)
$532M
P/E
-2.7
EPS
$-1.00
Revenue
$41.0K
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52W Range
$3–$6
Analyst Rating
BUY
Price Target
$17
P/E
-2.7
ROE
-45.6%
Net Profit Margin
-214861.0%
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ALT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.73
Market Cap (MRQ)
$532M
P/E
-2.7
EPS
$-1.00
Revenue
$41.0K
ROE
-45.6%
Debt/Equity (MRQ)
0.1
52W Range
$3–$6
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Sept. 14, 2018 | 1-for-30 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$41.0K2016-12-31 → 2025-12-31
EPS$-1.002016-12-31 → 2025-12-31
Free Cash Flow$-68M2016-12-31 → 2025-12-31
Net margin-214861.0%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ALT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -2.75Y avg ≈-5.8 | ≈-5.8 | · | · | |
| P/S | 7396.75Y avg ≈5179.2 | ≈5179.2 | 144.0 | Overvalued | |
| P/B (MRQ) | 1.15Y avg ≈3.3 | ≈3.3 | 3.1 | Undervalued | |
| EV / EBITDA | -0.75Y avg ≈-3.6 | ≈-3.6 | · | · | |
| Price / FCF (TTM) | -6.95Y avg ≈-8.4 | ≈-8.4 | · | · | |
| Price / Cash Flow (TTM) | -7.05Y avg ≈-8.1 | ≈-8.1 | · | · | |
| EV / Revenue | 1563.35Y avg ≈-1759.5 | ≈-1759.5 | · | · | |
| EV / FCF (TTM) | -3.15Y avg ≈-4.8 | ≈-4.8 | · | · | |
| Price / Tangible Book | 1.35Y 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 | ALT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin | -230461.0%5Y avg ≈-128401.5% | ≈-128401.5% | -2083.6% | Weak | |
| EBITDA Margin | -230461.0%5Y avg ≈-128338.7% | ≈-128338.7% | -2083.6% | Weak | |
| Pretax Margin | -216522.0%5Y avg ≈-117982.6% | ≈-117982.6% | -8123.7% | Weak | |
| Net Profit Margin | -214861.0%5Y avg ≈-117708.3% | ≈-117708.3% | -1978.2% | Weak | |
| ROA | -42.0%5Y avg ≈-44.1% | ≈-44.1% | -38.2% | Weak | |
| ROE | -45.6%5Y avg ≈-52.4% | ≈-52.4% | -43.9% | In line | |
| ROIC | -36.2% | · | -36.2% | In line |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | ALT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.15Y avg ≈0.1 | ≈0.1 | · | · | |
| Current Ratio (MRQ) | 26.85Y avg ≈14.3 | ≈14.3 | 13.8 | Strong liquidity | |
| Quick Ratio | 18.25Y avg ≈13.7 | ≈13.7 | 7.0 | Strong liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.15Y avg ≈0.1 | ≈0.1 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | ALT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 105.0%5Y avg ≈-12.1% | ≈-12.1% | · | · | |
| Revenue CAGR 3Y | -83.5% | · | · | · | |
| Revenue CAGR 5Y | -65.3% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | ALT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.05Y avg ≈0.0 | ≈0.0 | 0.0 | In line | |
| Revenue / Employee | ≈$719.30 | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
17.3%
Next Report
Nov 04, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $-0.12 | $-0.14 | 14.2% |
| March 31, 2026 | May 13, 2026 | $-0.18 | $-0.25 | 27.4% |
| Dec. 31, 2025 | $-0.27 | $-0.25 | -10.2% | |
| Sept. 30, 2025 | $-0.21 | $-0.28 | 26.1% | |
| June 30, 2025 | $-0.27 | $-0.33 | 17.2% | |
| March 31, 2025 | $-0.26 | $-0.37 | 29.1% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.0K | $20.0K | $426.0K | $-68.0K | $4M | $8M | $6M | $10M | $11M | $3M | · | · | |
| R&D Expense | $66M | $82M | $66M | $71M | $75M | $50M | $18M | $18M | $18M | $7M | $5M | $9M | |
| SG&A Expense | $28M | $21M | $18M | $17M | $15M | $13M | $9M | $10M | $8M | $7M | $6M | $11M | |
| Operating Expenses | $95M | $103M | $96M | $88M | $101M | $63M | $27M | $53M | $63M | $14M | $14M | $20M | |
| Operating Income | $-94M | $-103M | $-96M | $-88M | $-97M | $-55M | $-21M | $-43M | $-52M | $-11M | $-3M | $-10M | |
| Interest Expense | · | · | $35.0K | $8.0K | $5.0K | $9.4K | $2.2K | $297.1K | $162.1K | $38.5K | $54.6K | $210.4K | |
| Interest Income | $8M | $8M | $7M | $3M | $203.0K | $322.5K | $843.4K | $226.6K | $47.6K | $1.0K | · | · | |
| Other Non-op | $-190.0K | $48.0K | $166.0K | $-32.0K | $-374.0K | $24.1K | $15.1K | $277.9K | $5.7K | $42.3K | $8.1K | $-762 | |
| Pretax Income | $-89M | $-95M | $-88M | $-85M | $-97M | $-54M | $-21M | $-45M | $-52M | $-11M | $-3M | $-10M | |
| Income Tax | $-681.0K | · | · | $-197.0K | · | $-5M | $-58.5K | $-6M | $-6M | $0 | $61.7K | $61.7K | |
| Net Income | $-88M | $-95M | $-88M | $-85M | $-97M | $-49M | $-21M | $-39M | $-46M | $-11M | $-3M | $-10M | |
| EPS (Basic) | $-1.00 | $-1.34 | $-1.66 | $-1.81 | $-2.35 | $-1.91 | · | · | · | $2.97 | $-0.05 | $-0.17 | |
| EPS (Diluted) | $-1.00 | $-1.34 | $-1.66 | $-1.81 | $-2.35 | $-1.91 | · | · | · | $2.95 | $-0.05 | $-0.17 | |
| Shares (Basic) | 88,104,132 | 71,003,399 | 53,246,937 | 46,926,349 | 41,283,498 | 25,637,023 | · | · | · | 65,306,962 | 63,986,013 | 57,535,325 | |
| Shares (Diluted) | 88,104,132 | 71,003,399 | 53,246,937 | 46,926,349 | 41,283,498 | 25,637,023 | · | · | · | 65,657,802 | 63,986,013 | 57,535,325 | |
| EBITDA | $-94M | $-103M | $-96M | $-88M | $-96M | $-55M | $-21M | $-43M | · | $-11M | $-3M | $-10M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $44M | $37M | $135M | $111M | $190M | $116M | $9M | $34M | $9M | $3M | $16M | $19M | |
| Short-term Investments | $230M | $95M | $63M | $74M | · | $100M | $28M | · | · | $67M | $0 | · | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | $400.0K | |
| Prepaid Expense | $3M | $2M | $7M | $5M | $8M | $2M | $470.2K | $548.1K | $994.3K | $420.4K | $181.7K | $199.2K | |
| Current Assets | $278M | $137M | $210M | $193M | $204M | $230M | $39M | $39M | $23M | $4M | $17M | $19M | |
| PP&E (Net) | $312.0K | $413.0K | $651.0K | $1M | $1M | $1M | $1M | $1M | $603.1K | $177.9K | $233.7K | $325.8K | |
| PP&E (Gross) | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $1M | $2M | $3M | |
| Accum. Depreciation | $2M | $2M | $2M | $1M | $2M | $2M | $1M | $1M | $951.8K | $905.3K | $2M | $2M | |
| Goodwill | · | · | · | · | · | · | $0 | $0 | · | $19M | $22M | $2M | |
| Intangibles | · | $0 | $0 | $12M | $12M | $13M | $13M | $14M | $39M | $15M | · | · | |
| Other Non-current Assets | $1M | $2M | $363.0K | $615.0K | $872.0K | $977.2K | $128.5K | $183.7K | $238.9K | $22.2K | $53.4K | $53.4K | |
| Total Assets | $280M | $139M | $211M | $207M | $219M | $245M | $54M | $55M | $63M | $38M | $20M | $22M | |
| Accounts Payable | $3M | $211.0K | $2M | $5M | $2M | $612.3K | $18.2K | $372.9K | $129.1K | $2M | $521.1K | $391.4K | |
| Accrued Liabilities | · | · | · | · | · | $11M | $4M | $4M | $4M | $3M | · | · | |
| Short-term Debt | · | · | · | · | · | · | · | $71.6K | $49.7K | $458.6K | · | · | |
| Current Liabilities | $15M | $10M | $12M | $17M | $18M | $12M | $4M | $5M | $4M | $5M | $2M | $3M | |
| Capital Leases | $1M | $1M | $175.0K | $672.0K | $1M | $1M | $1M | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | $58.5K | $6M | $442.6K | $380.8K | $319.0K | |
| Other Non-current Liabilities | $6M | $5M | $40.0K | $60.0K | $80.0K | $110.3K | $130.2K | $140.1K | $160.0K | $442.6K | $433.4K | $493.1K | |
| Total Liabilities | $55M | $16M | $17M | $22M | $20M | $19M | $9M | $6M | $14M | $6M | $3M | $4M | |
| Long-term Debt | $34M | · | · | · | · | · | · | $500.0K | $500.0K | $526.0K | · | · | |
| Total Debt | $34M | · | · | $5M | $1M | $2M | $2M | $71.6K | · | · | $0 | $746.1K | |
| Common Stock | $11.0K | $7.0K | $7.0K | $5.0K | $4.0K | $3.7K | $1.5K | $876 | $61 | $692 | $6.4K | $6.4K | |
| Paid-in Capital | $879M | $690M | $665M | $568M | $497M | $417M | $188M | $170M | $122M | $71M | $240M | $239M | |
| Retained Earnings | $-649M | $-561M | $-466M | $-378M | $-293M | $-186M | $-137M | $-117M | $-78M | $-31M | $-224M | $-220M | |
| AOCI | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-8M | $0 | $-229.5K | |
| Stockholders' Equity | $225M | $124M | $194M | $185M | $199M | $226M | $46M | $48M | $39M | $32M | $43M | $18M | |
| Liabilities + Equity | $280M | $139M | $211M | $207M | $219M | $245M | $54M | $55M | $63M | $38M | $20M | $22M | |
| Shares Outstanding | 110,882,735 | 72,352,701 | 70,677,400 | 49,199,845 | 40,993,768 | 37,142,946 | 15,312,167 | 9,078,238 | 608,499 | 6,917,204 | 64,382,086 | 63,603,303 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | $-205.0K | $551.0K | $428.9K | $387.3K | · | · | · | · | · | |
| Stock-based Comp | $16M | $14M | $11M | $8M | $6M | $3M | $1M | $773.2K | $1M | $965.4K | $613.0K | $2M | |
| Deferred Tax | $-681.0K | · | · | · | · | · | $-58.5K | $-6M | $-3M | $61.8K | $61.7K | $61.7K | |
| Restructuring | · | · | · | · | · | · | · | · | · | $0 | $3M | $0 | |
| Other Non-cash | · | · | · | $14M | $13M | $12M | · | · | · | · | · | · | |
| Operating Cash Flow | $-68M | $-80M | $-76M | $-63M | $-78M | $-34M | $-10M | $-9M | $-20M | $-6M | $-3M | $-8M | |
| CapEx | $11.0K | · | $47.0K | $126.0K | $12M | $204.0K | $1.2K | $975.4K | $112.4K | $125.0K | $86.5K | $92.3K | |
| Investing Cash Flow | $-132M | $-28M | $14M | $-73M | $88M | $-72M | $-28M | $-1M | $14M | · | · | · | |
| Debt Issued | $35M | · | · | · | · | · | · | · | · | · | · | · | |
| Net Debt Issued | $35M | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $174M | $10M | $87M | $56M | $65M | $48M | · | $4M | · | $4M | $973.1K | $18M | |
| Net Stock Activity | $174M | $10M | $87M | $56M | $65M | $48M | · | $4M | · | $4M | $973.1K | $18M | |
| Financing Cash Flow | $207M | $10M | $86M | $57M | $65M | $213M | $13M | $32M | $16M | · | · | · | |
| Net Change in Cash | $7M | $-98M | $24M | $-79M | $74M | $107M | $-25M | $22M | $9M | $138M | $-3M | $8M | |
| Free Cash Flow | $-68M | · | $-76M | $-63M | $-90M | $-35M | $-10M | $-10M | · | $201M | $-3M | $-9M | |
| Levered FCF | · | · | · | $-63M | · | $-35M | $-10M | $-11M | · | · | $-3M | $-9M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -230461.0% | -515860.0% | -22518.5% | 129029.4% | -2197.4% | -669.5% | -370.0% | -414.6% | · | -6699.0% | · | · | |
| Net Margin | -214861.0% | -475295.0% | -20762.2% | 124577.9% | -2201.4% | -599.2% | -353.7% | -379.2% | · | 115286.4% | · | · | |
| Pretax Margin | -216522.0% | -475295.0% | -20762.2% | 124867.7% | -2201.4% | -665.4% | -354.7% | -438.7% | · | 121929.0% | · | · | |
| EBITDA Margin | -230461.0% | -515860.0% | -22518.5% | 129330.9% | -2184.9% | -665.9% | -370.0% | -414.6% | · | -6699.0% | · | · | |
| ROA | -42.0% | -54.3% | -42.4% | -39.8% | -41.9% | -32.8% | -37.7% | -66.5% | · | 158.5% | -16.4% | -50.9% | |
| ROE | -45.6% | -74.0% | -51.3% | -43.4% | -47.5% | -23.1% | -43.2% | -89.0% | · | 619.4% | -19.7% | -77.8% | |
| ROIC | -36.2% | · | · | -46.1% | · | -21.7% | -45.2% | -76.5% | · | -54.7% | -20.8% | -53.9% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 18.5 | 13.1 | 17.3 | 11.3 | 11.2 | 19.2 | 10.0 | 8.7 | · | 1.1 | 7.9 | 7.5 | |
| Quick Ratio | 18.2 | 12.6 | 16.3 | 10.8 | 10.4 | 18.0 | 9.5 | 7.4 | · | 1.1 | 7.1 | 7.4 | |
| Debt / Equity | 0.2 | · | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · | · | 0.0 | 0.0 | |
| LT Debt / Equity | 0.2 | · | · | 0.0 | 0.0 | 0.0 | 0.0 | · | · | · | · | · | |
| Interest Coverage | · | · | -2740.8 | -10967.5 | -17134.7 | -5816.7 | -9565.5 | -144.2 | · | · | -62.3 | -48.4 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | -0.0 | 0.0 | 0.1 | 0.1 | 0.2 | · | 0.0 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $2.03 | $1.71 | $2.75 | $3.77 | $4.86 | $6.08 | $2.97 | $5.32 | · | $0.29 | $0.26 | $0.29 | |
| Revenue / Share | $0.00 | $0.00 | $0.01 | $-0.00 | $0.11 | · | · | · | · | $0.00 | · | · | |
| Cash Flow / Share | $-0.77 | $-1.12 | $-1.42 | $-1.33 | $-1.90 | · | · | · | · | $3.07 | · | · | |
| Cash / Share | $0.39 | $0.51 | $1.91 | $2.26 | $4.64 | $3.12 | $0.59 | $3.71 | · | $2.27 | $0.24 | $0.29 | |
| EPS (TTM) | $-1.00 | $-1.34 | $-1.66 | $-1.81 | $-2.35 | $-1.91 | $2.92 | $2.92 | $2.92 | $2.95 | $-0.05 | $-0.17 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 105.0% | -95.3% | · | · | -46.1% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | · | -83.5% | -62.7% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -65.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $41.0K | $20.0K | $426.0K | $-68.0K | $4M | $8M | $6M | $10M | $11M | $3M | · | · | |
| Net Income TTM | $-88M | $-95M | $-88M | $-85M | $-97M | $-49M | $-21M | $-39M | $-46M | $-11M | $-3M | $-10M | |
| Market Cap | $400M | $522M | $795M | $809M | $376M | $419M | $29M | $19M | · | · | · | · | |
| Enterprise Value | $161M | · | · | $629M | $187M | $205M | $-6M | $-15M | · | · | · | · | |
| P/E | -3.6 | -5.4 | -6.8 | -9.1 | -3.9 | -5.9 | 0.6 | 0.7 | 20.4 | · | · | · | |
| P/S | 9763.1 | 26083.1 | 1866.5 | -11902.0 | 85.1 | 51.2 | 5.0 | 1.8 | · | · | · | · | |
| P/B | 1.8 | 4.2 | 4.1 | 4.4 | 1.9 | 1.9 | 0.6 | 0.4 | · | · | · | · | |
| P / Tangible Book | 1.8 | 4.2 | 4.1 | 4.7 | 2.0 | 2.0 | · | · | · | · | · | · | |
| P / Cash Flow | -5.9 | -6.5 | -10.5 | -12.9 | -4.8 | -12.2 | -3.0 | -2.0 | · | · | · | · | |
| P / FCF | -5.9 | · | -10.5 | -12.9 | -4.2 | -12.1 | -3.0 | -1.8 | · | · | · | · | |
| EV / EBITDA | -1.7 | · | · | -7.2 | -1.9 | -3.8 | 0.3 | 0.3 | · | · | · | · | |
| EV / FCF | -2.4 | · | · | -10.0 | -2.1 | -5.9 | 0.7 | 1.4 | · | · | · | · | |
| EV / Revenue | 3929.7 | · | · | -9250.6 | 42.3 | 25.0 | -1.1 | -1.4 | · | · | · | · | |
| Earnings Yield | -27.7% | -18.6% | -14.8% | -11.0% | -25.7% | -16.9% | 154.5% | 141.8% | 4.9% | · | · | · |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $26.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | $37.0K | $362.0K | $6.0K | $21.0K | $-110.0K | $2.0K | |
| R&D Expense | $19M | $16M | $18M | $15M | $17M | $16M | $20M | $20M | $21M | $21M | $17M | $18M | $13M | $17M | $19M | $20M | |
| SG&A Expense | $8M | $8M | $11M | $6M | $6M | $6M | $5M | $5M | $6M | $5M | $4M | $5M | $5M | $5M | $4M | $4M | |
| Operating Expenses | $26M | $24M | $29M | $21M | $23M | $22M | $25M | $25M | $27M | $27M | $34M | $23M | $18M | $22M | $23M | $25M | |
| Operating Income | $-26M | $-24M | $-29M | $-21M | $-23M | $-22M | $-25M | $-25M | $-27M | $-27M | $-34M | $-23M | $-18M | $-22M | $-23M | $-25M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $1.0K | · | $29.0K | $2.0K | $2.0K | $-183.0K | $64.0K | |
| Interest Income | $5M | $3M | $2M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | |
| Other Non-op | $-25.0K | $-152.0K | $-27.0K | $-86.0K | $-92.0K | $15.0K | $118.0K | $18.0K | $-76.0K | $-12.0K | $20.0K | $14.0K | $113.0K | $19.0K | $-217.0K | $50.0K | |
| Pretax Income | $-23M | $-23M | $-27M | $-19M | $-22M | $-20M | $-23M | $-23M | $-25M | $-24M | $-32M | $-21M | · | · | $-22M | $-24M | |
| Income Tax | · | · | $0 | $0 | $0 | $-681.0K | · | $0 | $0 | $0 | · | $0 | $0 | $0 | $0 | $-197.0K | |
| Net Income | $-23M | $-23M | $-27M | $-19M | $-22M | $-20M | $-23M | $-23M | $-25M | $-24M | $-32M | $-21M | $-16M | $-20M | $-22M | $-24M | |
| EPS (Basic) | $-0.12 | $-0.18 | $-0.26 | $-0.21 | $-0.27 | $-0.26 | $-0.33 | $-0.32 | $-0.35 | $-0.34 | $-0.55 | $-0.39 | $-0.32 | $-0.40 | $-0.47 | $-0.48 | |
| EPS (Diluted) | $-0.12 | $-0.18 | $-0.26 | $-0.21 | $-0.27 | $-0.26 | $-0.33 | $-0.32 | $-0.35 | $-0.34 | $-0.55 | $-0.39 | $-0.32 | $-0.40 | $-0.47 | $-0.48 | |
| Shares (Basic) | 185,443,736 | 124,461,818 | · | 89,418,028 | 81,477,548 | 75,547,746 | · | 71,084,787 | 70,924,371 | 70,801,713 | · | 53,633,354 | 50,691,558 | 50,125,685 | · | 49,286,535 | |
| Shares (Diluted) | 185,443,736 | 124,461,818 | · | 89,418,028 | 81,477,548 | 75,547,746 | · | 71,084,787 | 70,924,371 | 70,801,713 | · | 53,633,354 | 50,691,558 | 50,125,685 | · | 49,286,535 | |
| EBITDA | $-26M | $-24M | · | $-21M | $-23M | $-22M | · | $-25M | $-27M | $-27M | · | $-23M | $-18M | $-22M | · | $-25M |
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 | $63M | $98M | $44M | $61M | $183M | $49M | $37M | $31M | $57M | $79M | $135M | $87M | $102M | $105M | $111M | $127M | |
| Short-term Investments | $263M | $234M | $230M | $150M | · | $101M | $95M | $108M | $108M | $103M | $63M | $54M | $58M | $61M | $74M | $74M | |
| Prepaid Expense | $5M | $1M | $3M | $4M | $4M | $3M | $2M | $3M | $3M | $3M | $7M | $8M | $6M | $4M | $5M | $5M | |
| Current Assets | $335M | $335M | $278M | $217M | $188M | $155M | $137M | $146M | $171M | $188M | $210M | $153M | $170M | $173M | $193M | $211M | |
| PP&E (Net) | $60.0K | $208.0K | $312.0K | $337.0K | $364.0K | $384.0K | $413.0K | $446.0K | $483.0K | $544.0K | $651.0K | $765.0K | $882.0K | $1M | $1M | $1M | |
| PP&E (Gross) | · | · | $3M | · | · | · | $3M | · | · | · | $3M | · | · | · | $3M | · | |
| Accum. Depreciation | · | · | $2M | · | · | · | $2M | · | · | · | $2M | · | · | · | $1M | · | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | $0 | · | · | · | · | $12M | |
| Other Non-current Assets | $90.0K | $746.0K | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $299.0K | $363.0K | $425.0K | $483.0K | $546.0K | $615.0K | $682.0K | |
| Total Assets | $527M | $336M | $280M | $218M | $190M | $157M | $139M | $148M | $173M | $188M | $211M | $167M | $183M | $187M | $207M | $225M | |
| Accounts Payable | $1M | $2M | $3M | $5M | $851.0K | $1M | $211.0K | $1M | $3M | $4M | $2M | $3M | $4M | $5M | $5M | $1M | |
| Current Liabilities | $13M | $11M | $15M | $13M | $9M | $10M | $10M | $9M | $15M | $11M | $12M | $12M | $11M | $15M | $17M | $16M | |
| Capital Leases | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $44.0K | $175.0K | $303.0K | $429.0K | $552.0K | $672.0K | $788.0K | |
| Other Non-current Liabilities | $6M | $6M | $6M | $6M | $5M | $16.0K | $5M | $26.0K | $31.0K | $37.0K | $40.0K | $46.0K | $52.0K | $56.0K | $60.0K | $66.0K | |
| Total Liabilities | $53M | $52M | $55M | $33M | $29M | $15M | $16M | $14M | $21M | $15M | $17M | $16M | $16M | $19M | $22M | $20M | |
| Long-term Debt | $35M | $35M | $34M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $35M | $35M | · | $14M | $14M | · | · | · | · | · | · | $4M | $4M | $4M | · | $5M | |
| Common Stock | $19.0K | $13.0K | $11.0K | $10.0K | $9.0K | $8.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | |
| Paid-in Capital | $1.18B | $961M | $879M | $813M | $770M | $728M | $690M | $676M | $673M | $669M | $665M | $590M | $587M | $571M | $568M | $567M | |
| Retained Earnings | $-695M | $-672M | $-649M | $-622M | $-603M | $-581M | $-561M | $-538M | $-515M | $-491M | $-466M | $-435M | $-414M | $-398M | $-378M | $-356M | |
| AOCI | $-6M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | |
| Stockholders' Equity | $474M | $284M | $225M | $186M | $161M | $142M | $124M | $133M | $153M | $173M | $194M | $150M | $168M | $168M | $185M | $205M | |
| Liabilities + Equity | $527M | $336M | $280M | $218M | $190M | $157M | $139M | $148M | $173M | $188M | $211M | $167M | $183M | $187M | $207M | $225M | |
| Shares Outstanding | 194,474,154 | 130,221,154 | 110,882,735 | 95,598,665 | 85,076,300 | 77,825,450 | 72,352,701 | 71,124,407 | 71,046,267 | 70,899,134 | 70,677,400 | 52,858,920 | 52,657,661 | 49,286,710 | 49,199,845 | 49,161,637 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | · | $-552.0K | $-505.0K | $-356.0K | · | $-141.0K | |
| Stock-based Comp | $3M | $3M | $5M | $4M | $4M | $4M | $3M | $3M | $4M | $4M | $2M | $3M | $3M | $3M | $2M | $2M | |
| Deferred Tax | · | · | $0 | $0 | $0 | $-681.0K | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | · | · | · | · | $-2M | · | · | |
| Operating Cash Flow | $-24M | $-21M | $-19M | $-12M | $-19M | $-17M | $-18M | $-27M | $-18M | $-16M | $-17M | $-20M | $-19M | $-19M | $-17M | $-15M | |
| CapEx | $32.0K | $21.0K | $1.0K | $0 | · | · | · | · | · | · | $0 | $0 | $-4.0K | $51.0K | $38.0K | $60.0K | |
| Investing Cash Flow | $-221M | $-4M | $-79M | $-149M | $101M | $-5M | $14M | $1M | $-4M | $-40M | $-8M | $4M | $4M | $13M | $981.0K | $-25M | |
| Debt Issued | · | · | $20M | $0 | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $-89.0K | $9M | $62M | $40M | $38M | $35M | · | · | · | · | $73M | $510.0K | · | · | $0 | $32M | |
| Net Stock Activity | · | $9M | · | · | · | $35M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $211M | $78M | $81M | $39M | $52M | $34M | $10M | $266.0K | $-46.0K | $-261.0K | $73M | $588.0K | $13M | $-302.0K | $-43.0K | $32M | |
| Net Change in Cash | $-35M | $54M | $-17M | $-122M | $134M | $12M | $5M | $-26M | $-22M | $-56M | $48M | $-15M | $-2M | $-6M | $-16M | $-8M | |
| Free Cash Flow | · | $-21M | · | · | · | · | · | · | · | · | · | · | · | $-19M | · | · |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | -417180.0% | -458440.0% | -436300.0% | · | -495340.0% | -534900.0% | -535880.0% | · | -6226.5% | -300116.7% | -103614.3% | · | -1237600.0% | |
| Net Margin | · | · | · | -380280.0% | -442920.0% | -391500.0% | · | -456900.0% | -492800.0% | -487880.0% | · | -5710.2% | -267683.3% | -95590.5% | · | -1175800.0% | |
| Pretax Margin | · | · | · | -380280.0% | -442920.0% | -405120.0% | · | · | · | · | · | -5710.2% | · | · | · | -1185650.0% | |
| EBITDA Margin | · | · | · | -417180.0% | -458440.0% | -436300.0% | · | -495340.0% | -534900.0% | -535880.0% | · | -6226.5% | -300116.7% | -105309.5% | · | -1237600.0% | |
| ROA | -6.4% | -9.2% | · | -10.4% | -12.2% | -11.3% | · | -14.5% | -13.8% | -13.0% | · | -10.5% | -8.2% | -10.2% | · | -10.2% | |
| ROE | -7.2% | -10.6% | · | -11.9% | -14.1% | -12.4% | · | -16.1% | -15.4% | -14.3% | · | -11.6% | -8.9% | -11.4% | · | -11.3% | |
| ROIC | · | · | · | · | · | -14.8% | · | · | · | · | · | · | · | · | · | -11.7% |
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 | 26.8 | 29.6 | · | 17.2 | 20.4 | 15.8 | · | 16.9 | 11.3 | 16.5 | · | 12.9 | 14.8 | 11.6 | · | 13.4 | |
| Quick Ratio | 26.1 | 29.3 | · | 16.7 | 19.9 | 15.3 | · | 16.1 | 10.9 | 16.1 | · | 11.9 | 14.0 | 11.1 | · | 12.8 | |
| Debt / Equity | 0.1 | 0.1 | · | 0.1 | 0.1 | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| LT Debt / Equity | 0.1 | 0.1 | · | 0.1 | 0.1 | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -26794.0 | · | -777.2 | -9003.5 | -10879.5 | · | -386.8 |
Efficiency
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
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 | $2.44 | $2.18 | · | $1.94 | $1.90 | $1.83 | · | $1.88 | $2.15 | $2.44 | · | $2.85 | $3.19 | $3.40 | · | $4.17 | |
| Revenue / Share | · | · | · | $0.00 | $0.00 | $0.00 | · | $0.00 | $0.00 | $0.00 | · | $0.01 | $0.00 | $0.00 | · | $0.00 | |
| Cash Flow / Share | · | $-0.17 | · | · | · | $-0.22 | · | · | · | $-0.23 | · | · | · | $-0.39 | · | · | |
| Cash / Share | $0.32 | $0.75 | · | $0.64 | $2.15 | $0.63 | · | $0.44 | $0.80 | $1.11 | · | $1.64 | $1.94 | $2.12 | · | $2.59 | |
| EPS (TTM) | $-0.77 | $-0.92 | · | $-1.07 | $-1.18 | $-1.26 | · | $-1.56 | $-1.63 | $-1.60 | · | $-1.58 | $-1.67 | $-1.77 | · | $-1.90 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $41.0K | $41.0K | · | $20.0K | $20.0K | $20.0K | · | $52.0K | $409.0K | $410.0K | · | $279.0K | $-81.0K | $-79.0K | · | $3M | |
| Net Income TTM | $-92M | $-91M | · | $-84M | $-88M | $-90M | · | $-104M | $-101M | $-93M | · | $-78M | $-81M | $-85M | · | $-87M | |
| Market Cap | $591M | $401M | · | $360M | $329M | $389M | · | $437M | $472M | $722M | · | $137M | $186M | $208M | · | $628M | |
| Enterprise Value | $300M | $104M | · | $164M | $160M | · | · | · | · | · | · | $959.2K | $30M | $47M | · | $430M | |
| P/E | -3.9 | -3.3 | · | -3.5 | -3.3 | -4.0 | · | -3.9 | -4.1 | -6.4 | · | -1.6 | -2.1 | -2.4 | · | -6.7 | |
| P/S | 14419.5 | 9782.5 | · | 18020.3 | 16462.3 | 19456.4 | · | 8398.2 | 1155.2 | 1760.4 | · | 492.6 | -2294.8 | -2632.8 | · | 189.2 | |
| P/B | 1.2 | 1.4 | · | 1.9 | 2.0 | 2.7 | · | 3.3 | 3.1 | 4.2 | · | 0.9 | 1.1 | 1.2 | · | 3.1 | |
| P / Tangible Book | 1.2 | 1.4 | · | 1.9 | 2.0 | 2.7 | · | 3.3 | 3.1 | 4.2 | · | 0.9 | 1.1 | 1.2 | · | 3.3 | |
| P / Cash Flow | · | -19.2 | · | · | · | -23.1 | · | · | · | -44.1 | · | · | · | -10.7 | · | · | |
| EV / Revenue | 7308.8 | 2537.7 | · | 8203.8 | 8023.6 | · | · | · | · | · | · | 3.4 | -371.5 | -590.6 | · | 129.7 | |
| Earnings Yield | -25.3% | -29.9% | · | -28.4% | -30.5% | -25.2% | · | -25.4% | -24.5% | -15.7% | · | -60.8% | -47.3% | -41.9% | · | -14.9% |
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 |
|---|---|---|---|---|---|
| Revenue | $41.0K | $20.0K | $426.0K | $-68.0K | $4M |
| Operating Margin % | -230461.0% | -515860.0% | -22518.5% | 129029.4% | -2197.4% |
| Net Income | $-88M | $-95M | $-88M | $-85M | $-97M |
| Diluted EPS | $-1.00 | $-1.34 | $-1.66 | $-1.81 | $-2.35 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.2 | · | · | 0.0 | 0.0 |
| Current Ratio | 18.5 | 13.1 | 17.3 | 11.3 | 11.2 |
| Quick Ratio | 18.2 | 12.6 | 16.3 | 10.8 | 10.4 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-68M | · | $-76M | $-63M | $-90M |
Institutional owners (13F) 235 filers · $501.0M 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
235
Value held
$501.0M
New positions
61
Exited positions
17
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 61 (+31 vs prior Q) | 17 (-16 vs prior Q) | 87 (+3 vs prior Q) | 37 (-2 vs prior Q) | +81.8M |
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 |
|---|---|---|---|---|
| BlackRock, Inc. | $61,971,264 | 20,385,284 | 12.37% | Shares |
| Deep Track Capital, LP | $58,520,000 | 19,250,000 | 11.68% | Shares |
| STATE STREET CORP | $36,779,562 | 12,098,540 | 7.34% | Shares |
| VANGUARD GROUP INC | $34,263,084 | 9,491,159 | 6.84% | Shares |
| TCG Crossover Management, LLC | $30,400,000 | 10,000,000 | 6.07% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $24,860,366 | 8,177,752 | 4.96% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $22,284,006 | 7,330,265 | 4.45% | Shares |
| MARSHALL WACE, LLP | $20,796,808 | 6,841,055 | 4.15% | Shares |
| VIKING GLOBAL INVESTORS LP | $20,368,000 | 6,700,000 | 4.07% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $19,760,000 | 6,500,000 | 3.94% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $15,238,163 | 5,011,314 | 3.04% | Shares |
| Woodline Partners LP | $10,336,948 | 3,400,312 | 2.06% | Shares |
| MILLENNIUM MANAGEMENT LLC | $10,059,731 | 3,309,122 | 2.01% | Shares |
| Trails Edge Capital Partners, LP | $8,086,400 | 2,660,000 | 1.61% | Shares |
| Nuveen, LLC | $7,312,276 | 2,405,354 | 1.46% | Shares |
| TWO SIGMA INVESTMENTS, LP | $7,238,672 | 2,381,142 | 1.44% | Shares |
| GOLDMAN SACHS GROUP INC | $6,731,928 | 2,214,450 | 1.34% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,469,872 | 1,799,300 | 1.09% | Call option |
| GREAT POINT PARTNERS LLC | $5,293,345 | 1,741,232 | 1.06% | Shares |
| NORTHERN TRUST CORP | $4,861,648 | 1,599,226 | 0.97% | Shares |
| Weiss Asset Management LP | $4,653,641 | 1,530,803 | 0.93% | Shares |
| Nantahala Capital Management, LLC | $4,560,000 | 1,500,000 | 0.91% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $3,930,723 | 1,293,001 | 0.78% | Shares |
| Cormorant Asset Management, LP | $3,800,000 | 1,250,000 | 0.76% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $3,711,686 | 1,220,949 | 0.74% | Shares |
| CITADEL ADVISORS LLC | $2,990,019 | 983,559 | 0.60% | Shares |
| TWO SIGMA ADVISERS, LP | $2,865,979 | 793,900 | 0.57% | Shares |
| UBS Group AG | $2,633,810 | 866,385 | 0.53% | Shares |
| MORGAN STANLEY | $2,305,642 | 758,435 | 0.46% | Shares |
| BANK OF AMERICA CORP /DE/ | $2,304,074 | 757,919 | 0.46% | Shares |
| Ghisallo Capital Management LLC | $2,280,000 | 750,000 | 0.46% | Shares |
| FMR LLC | $2,276,881 | 748,974 | 0.45% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,222,477 | 731,078 | 0.44% | Shares |
| Bank of New York Mellon Corp | $2,096,727 | 689,713 | 0.42% | Shares |
| TANG CAPITAL MANAGEMENT LLC | $2,024,707 | 666,022 | 0.40% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,943,537 | 639,436 | 0.39% | Shares |
| CITADEL ADVISORS LLC | $1,918,240 | 631,000 | 0.38% | Call option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,898,477 | 624,499 | 0.38% | Shares |
| Point72 Asset Management, L.P. | $1,480,127 | 486,884 | 0.30% | Shares |
| Rock Springs Capital Management LP | $1,433,254 | 471,465 | 0.29% | Shares |
| Beirne Wealth Consulting Services, LLC | $1,282,449 | 421,858 | 0.26% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $1,277,712 | 420,300 | 0.26% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,128,375 | 371,176 | 0.23% | Shares |
| BARCLAYS PLC | $1,068,825 | 351,587 | 0.21% | Shares |
| Invesco Ltd. | $1,011,079 | 332,592 | 0.20% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $990,128 | 325,700 | 0.20% | Put option |
| RHUMBLINE ADVISERS | $941,193 | 309,606 | 0.19% | Shares |
| LMR Partners LLP | $912,000 | 300,000 | 0.18% | Shares |
| CITIGROUP INC | $893,602 | 293,948 | 0.18% | Shares |
| Steward Partners Investment Advisory, LLC | $810,680 | 266,671 | 0.16% | Shares |
Activists & 5%+ owners 18 positions
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 |
|---|---|---|---|---|---|
| Venrock Healthcare Capital Partners II, L.P., VHCP Co-Investment Holdings II, LLC, Venrock Healthcare Capital Partners III, L.P., VHCP Co-Investment Holdings III, LLC, VHCP Management II, LLC, VHCP Management III, LLC, Shah, Nimish, Koh, Bong | June 25, 2020 | · | Initial filing | Passive investment | SEC |
| Philip Hodges, Redmont Venture Partners, Inc., Redmont VAXN Capital Holdings, LLC, Paradigm Venture Partners, L.P. ×3 filings | Oct. 19, 2017 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 30, 2016 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 12, 2016 | · | Initial filing | · | SEC |
| PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C., PRESCOTT GROUP AGGRESSIVE SMALL CAP, L.P., PRESCOTT GROUP AGGRESSIVE SMALL CAP II, L.P., PHIL FROHLICH ×6 filings | Dec. 2, 2013 | · | Initial filing | Passive investment | SEC |
| Theraclone Sciences, Inc. | Aug. 12, 2013 | · | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 27, 2010 | · | Initial filing | Passive investment | SEC |
| Kelisia Holdings L imited, Panacea Biotec Limited | Sept. 18, 2009 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 4, 2009 | · | Initial filing | Passive investment | SEC |
| HealthCare Ventures VII, L.P., HealthCare Partners VII, L.P., James H. Cavanaugh, Ph.D., John Littlechild, Harold Werner, Augustine Lawlor, Christopher Mirabelli, Ph.D. ×3 filings | Aug. 3, 2009 | · | Initial filing | Passive investment | SEC |
| Bear Stearns Health Innoventures, L.P., Bear Stearns Health Innoventures Offshore, L.P., BX, L.P., Bear Stearns Health Innoventures Employee Fund, L.P., BSHI Members, L.L.C., Bear Stearns Health Innoventures Management, L.L.C., Bear Stearns Asset Management Inc. ×3 filings | May 29, 2009 | · | Initial filing | Board campaign | SEC |
| Integrated Core Strategies (US) LLC, Riverview Group LLC, Millennium Management LLC, Israel A. Englander ×2 filings | April 23, 2009 | · | Initial filing | M&A / sale | SEC |
| Nexia Biotechnologies Ltd. | May 30, 2008 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Aug. 17, 2007 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Aug. 14, 2007 | · | Initial filing | Passive investment | SEC |
| MPM BioVentures III, L.P., MPM BioVentures III-QP, L.P., MPM BioVentures III GmbH & Co. Beteiligungs KG, MPM BioVentures III Parallel Fund, L.P., MPM Asset Management Investors 2004 BVIII LLC, MPM BioVentures III GP, L.P., MPM BioVentures III LLC, Luke Evnin, Ansbert Gadicke, Nicholas Galakatos, Dennis Henner, Nicholas Simon III, Michael Steinmetz, Kurt Wheeler | Aug. 14, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Aug. 13, 2007 | · | Initial filing | M&A / sale | SEC |
| QVT Financial LP, QVT Financial GP LLC ×2 filings | Aug. 7, 2007 | · | Initial filing | · | 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.
Company insiders 49 insiders · 26 officers · 21 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jerome Benedict Durso | President and CEO | Aug. 13, 2026 P | 62,500 | 4 | 0 | $213,775 |
| William Enright | President and CEO | May 25, 2018 P | 365,839 | 0 | 0 | $0 |
| David P Wright | President and CEO | Dec. 11, 2009 P | 399,500 | 0 | 0 | $0 |
| Gregory L Weaver | Chief Financial Officer | July 31, 2026 A | 39,831 | 2 | 0 | $49,200 |
| Andrew Shutterly | Acting Chief Financial Officer | July 31, 2024 A | 11,372 | 0 | 0 | $0 |
| Richard I Eisenstadt | Chief Financial Officer | Jan. 30, 2024 M | 45,012 | 0 | 0 | $0 |
| William Michael Brown | Chief Financial Officer | July 31, 2021 A | 17,721 | 0 | 0 | $0 |
| Elizabeth Czerepak | CFO and EVP Corp. Development | Sept. 22, 2017 A | · | 0 | 0 | $0 |
| MACNEILL PHILIP | VP, CFO, Treasurer, Secretary | Dec. 21, 2016 M | 126,346 | 0 | 0 | $0 |
| Linda L Chang | SVP, CFO & Secretary | Jan. 7, 2015 M | 30,000 | 0 | 0 | $0 |
| Charles A. Reinhart III | SVP, Chief Financial Officer | Dec. 8, 2010 A | · | 0 | 0 | $0 |
| Kevin Price | President - PharmAthene UK,Ltd | Jan. 21, 2009 A | 2,500 | 0 | 0 | $0 |
| Jeffrey Michael Jones | COO | March 11, 2015 A | 27,544 | 0 | 0 | $0 |
| Richard Thomas Menziuso | Principal Accounting Officer | Oct. 1, 2026 A | · | 0 | 0 | $0 |
| Linda M Richardson | Chief Commercial Officer | Sept. 16, 2026 M | 17,174 | 0 | 0 | $0 |
| Scot M Roberts | Chief Scientific Officer | July 31, 2026 A | 113,699 | 0 | 0 | $0 |
| Raymond M Jordt | Chief Business Officer | Jan. 31, 2026 A | 70,107 | 0 | 0 | $0 |
| Christophe Arbet-Engels | Chief Medical Officer | Oct. 1, 2025 A | · | 0 | 0 | $0 |
| Matthew Scott Harris | Chief Medical Officer | July 31, 2025 A | 16,087 | 0 | 0 | $0 |
| Sybil Tasker | Chief Medical Officer | June 17, 2019 A | · | 0 | 0 | $0 |
| Wayne Morges | SVP, Reg. Affairs & Quality | Dec. 8, 2014 A | 35,532 | 0 | 0 | $0 |
| Francesca M Cook | SVP, Policy & Gov't Affairs | Dec. 8, 2014 A | 37,631 | 0 | 0 | $0 |
| Thomas Richard Fuerst | EVP, Chief Scientific Officer | Dec. 1, 2011 A | 15,000 | 0 | 0 | $0 |
| Valerie D Riddle | SVP, Medical Director | May 31, 2011 M | 44,436 | 0 | 0 | $0 |
| Joan Fusco | SVP, Operations | May 6, 2010 A | 36,730 | 0 | 0 | $0 |
| Christopher C Camut | VP, Gov't Contracts | Jan. 21, 2010 F | 46,777 | 0 | 0 | $0 |
| Teri L Lawver | Director | May 1, 2026 A | · | 0 | 0 | $0 |
| Wayne Pisano | Director | May 1, 2026 A | 13,498 | 1 | 0 | $20,400 |
| Klaus Schafer | Director | May 1, 2026 A | 9,179 | 0 | 0 | $0 |
| Philip Hodges | Director | May 1, 2026 A | 8,731 | 0 | 0 | $0 |
| Catherine A. Sohn | Director | May 1, 2026 A | 1,500 | 1 | 0 | $2,120 |
| Diane Jorkasky | Director | May 1, 2026 A | 527 | 1 | 0 | $2,003 |
| John Gill | Director | May 1, 2026 A | 21,700 | 2 | 0 | $82,622 |
| Mitchel Sayare | Director | May 1, 2026 A | 26,363 | 0 | 0 | $0 |
| Vipin K Garg | Director | Jan. 30, 2026 M | 424,519 | 0 | 0 | $0 |
| David Drutz | Director | Aug. 19, 2024 M | 55,524 | 0 | 0 | $0 |
| SCHAFFER DERACE L | Director | Dec. 29, 2017 P | 589,453 | 0 | 0 | $0 |
| Jeffrey W. Runge | Director | Jan. 20, 2017 M | 197,700 | 0 | 0 | $0 |
| Steven St Peter | Director | Jan. 4, 2017 M | 205,004 | 0 | 0 | $0 |
| Eric I Richman | Director | Nov. 22, 2016 M | 898,055 | 0 | 0 | $0 |
| Joel Mccleary | Director | Dec. 31, 2014 A | 120,167 | 0 | 0 | $0 |
| Brian A Markison | Director | Dec. 31, 2014 A | · | 0 | 0 | $0 |
| John Pappajohn | Director | June 23, 2011 A | 394,044 | 0 | 0 | $0 |
| CAVANAUGH JAMES H | Director | June 23, 2010 A | · | 0 | 0 | $0 |
| VELOCITY PHARMACEUTICAL HOLDINGS LLC | 10% owner | May 15, 2020 S | 1,687,250 | 0 | 0 | $0 |
| Truffle Capital S.A.S. | 10% owner | Feb. 13, 2018 J | 76,700 | 0 | 0 | $0 |
| ANSBERT GADICKE | 10% owner | Aug. 3, 2007 A | · | 0 | 0 | $0 |
| Jordan P Karp | · | Dec. 3, 2012 A | 21,929 | 0 | 0 | $0 |
| Matthew P Kinley | · | Aug. 3, 2007 P | 541,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 24 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 |
|---|---|---|---|---|
| BBC · ETFis Series Trust I | 0.73% | 119,086 NS | July 31, 2026 | N-PORT |
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.48% | 38,580 SH | Oct. 1, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.16% | 275,123 NS | July 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.15% | 673,707 SH | Sept. 11, 2026 | Daily |
| IBB · iShares Trust | 0.05% | 1,414,762 SH | Sept. 11, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.04% | 3,759 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.04% | 172,834 SH | Aug. 19, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.04% | 13,762 SH | Oct. 1, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 207,080 SH | Oct. 1, 2026 | Daily |
| IWM · iShares Trust | 0.02% | 5,067,516 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 1,142,675 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 94,969 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 2,235,429 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 569,267 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 167,692 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 358,632 SH | Sept. 11, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 8,167 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 23,537 SH | Sept. 3, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 25,408 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 9,653 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 34,439 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 5,748,771 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 16,865 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 1,858,292 SH | Sept. 11, 2026 | Daily |
ALT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 15 analysts
BUY
Median target
$17.00
+521.6%
4 26.7%
Strong Buy
9 60.0%
Buy
2 13.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
9 analysts · 2026-09-30Mean target $17.11 +525.6%
← Below all targets
Current price $2.73
Low$11.00
Mean$17.11
High$28.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ALT | $400M | -3.6 | 105.0% | -214861.0% | -45.6% | · |
| IRWD | $550M | 22.5 | -15.7% | 8.1% | -8.5% | · |
| SGMT | · | -3.7 | · | · | -42.3% | · |
| CTMX | $725M | · | -44.8% | -22.8% | -15.9% | · |
| PRME | $626M | -2.6 | 55.3% | -4342.4% | -221.4% | · |
| ALLO | $314M | -1.6 | -76.8% | · | -59.9% | · |
| MPLT | $773M | -0.9 | · | · | -151.1% | · |
| MNPR | · | · | · | · | · | · |
| CBIO | $327M | -24.2 | -86.7% | -1419.6% | -90.0% | · |
| NGNE | $319M | -4.9 | · | · | -33.6% | · |
| ZURA | · | · | · | · | · | · |
Latest News Recent headlines mentioning this company
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Source: SEC 10-Q filed Aug 12, 2026