AMLX Amylyx Pharmaceuticals, Inc. - Common Stock
AMLX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
AMLX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
AMLX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 8 47.1%
- Buy 7 41.2%
- Hold 2 11.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-19Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.39 | $-0.37 | -0.02% |
| March 31, 2026 | $-0.37 | $-0.34 | -0.03% |
| Dec. 31, 2025 | $-0.30 | $-0.37 | 0.07% |
| Sept. 30, 2025 | $-0.37 | $-0.46 | 0.09% |
| June 30, 2025 | $-0.46 | $-0.45 | -0.01% |
| March 31, 2025 | $-0.42 | $-0.48 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AMLX | $1.33B | -7.9 | -77.1% | — | -61.2% | — |
| LGND | $3.74B | 30.8 | 60.4% | 46.4% | 13.5% | — |
| EWTX | $2.64B | -15.2 | — | — | -30.2% | — |
| MANE | — | — | — | — | 82.6% | — |
| INDV | — | 21.9 | 4.3% | 17.0% | -118.3% | 80.2% |
| ELVN | $915M | -8.4 | — | — | -21.9% | — |
| GPCR | $14.78B | -86.9 | — | — | -12.3% | — |
| OGN | $1.87B | 10.0 | -2.9% | 3.0% | 25.2% | 53.3% |
| MBX | $1.42B | -13.3 | — | — | -29.6% | — |
| TARS | $3.48B | -51.5 | 146.7% | -14.7% | -19.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $87M | $381M | $22M | $285.0K | |
| Cost of Revenue | $0 | $6M | $25M | $3M | · | |
| R&D Expense | $90M | $104M | $128M | $93M | $44M | |
| SG&A Expense | $63M | $114M | $188M | $127M | $39M | |
| Operating Expenses | $153M | $402M | $342M | $224M | $83M | |
| Operating Income | $-153M | $-315M | $39M | $-201M | $-83M | |
| Interest Income | $9M | $14M | $16M | $4M | $36.0K | |
| Other Non-op | $-700.0K | $-1M | $-660.0K | $-551.0K | $-51.0K | |
| Pretax Income | $-145M | $-302M | $54M | $-198M | $-88M | |
| Income Tax | $46.0K | $-393.0K | $5M | $774.0K | · | |
| Net Income | $-145M | $-302M | $49M | $-198M | $-88M | |
| EPS (Basic) | $-1.53 | $-4.43 | $0.73 | $-3.39 | $-13.35 | |
| EPS (Diluted) | $-1.53 | $-4.43 | $0.70 | $-3.39 | $-13.35 | |
| Shares (Basic) | 94,565,567 | 68,142,158 | 67,234,465 | 58,495,587 | 6,586,349 | |
| Shares (Diluted) | 94,565,567 | 68,142,158 | 69,991,340 | 58,495,587 | 6,586,349 | |
| EBITDA | $-153M | $-315M | $39M | $-201M | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $227M | $77M | $170M | $63M | $50M | |
| Short-term Investments | $90M | $99M | $201M | $284M | $46M | |
| Receivables | $88.0K | $447.0K | $40M | $15M | · | |
| Inventory | · | · | $38M | $10M | · | |
| Prepaid Expense | $7M | $12M | $15M | $10M | $5M | |
| Current Assets | $324M | $189M | $465M | $382M | $105M | |
| PP&E (Net) | $310.0K | $961.0K | $3M | $3M | $474.0K | |
| PP&E (Gross) | $2M | $2M | $4M | $3M | $527.0K | |
| Accum. Depreciation | $2M | $1M | $2M | $540.0K | $53.0K | |
| Other Non-current Assets | $2M | $24.0K | $701.0K | $466.0K | · | |
| Total Assets | $333M | $194M | $517M | $391M | $106M | |
| Accounts Payable | $4M | $3M | $22M | $6M | $4M | |
| Accrued Liabilities | $18M | $24M | $58M | $38M | · | |
| Current Liabilities | $23M | $28M | $82M | $47M | $17M | |
| Capital Leases | $5M | $463.0K | $2M | $4M | · | |
| Total Liabilities | $27M | $29M | $84M | $51M | $17M | |
| Common Stock | $11.0K | $7.0K | $7.0K | $7.0K | $1.0K | |
| Retained Earnings | $-751M | $-607M | $-305M | $-354M | $-156M | |
| AOCI | $404.0K | $-92.0K | $197.0K | $-86.0K | $9.0K | |
| Stockholders' Equity | $305M | $165M | $433M | $341M | $-151M | |
| Liabilities + Equity | $333M | $194M | $517M | $391M | $106M | |
| Shares Outstanding | 109,884,502 | 68,629,738 | 67,707,432 | 66,512,011 | 7,020,487 |
Cash Flow 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Stock-based Comp | $28M | $33M | $37M | $22M | $3M | |
| Restructuring | $0 | $23M | · | · | · | |
| Operating Cash Flow | $-123M | $-168M | $12M | $-180M | $-75M | |
| CapEx | $138.0K | $157.0K | $1M | $3M | $353.0K | |
| Investing Cash Flow | $14M | $76M | $92M | $-239M | $-46M | |
| Financing Cash Flow | $257M | $348.0K | $4M | $432M | $159M | |
| Net Change in Cash | $149M | $-92M | $108M | $13M | $37M | |
| Taxes Paid | $-1M | $235.0K | · | · | · | |
| Free Cash Flow | $-123M | $-168M | $11M | $-182M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Operating Margin | · | -360.2% | 10.2% | -905.7% | · | |
| Net Margin | · | -345.4% | 12.9% | -892.4% | · | |
| Pretax Margin | · | -345.8% | 14.3% | -888.9% | · | |
| EBITDA Margin | · | -360.2% | 10.2% | -905.7% | · | |
| ROA | -55.0% | -84.9% | 10.8% | -79.8% | · | |
| ROE | -61.2% | -167.2% | 11.6% | -81.9% | · | |
| ROIC | -50.2% | -190.8% | 8.1% | -59.3% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 14.3 | 6.7 | 5.7 | 8.2 | · | |
| Quick Ratio | 14.0 | 6.2 | 5.0 | 7.8 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.2 | 0.8 | 0.1 | · | |
| Inventory Turnover | · | · | 1.1 | 0.6 | · | |
| Receivables Turnover | 0.0 | 4.3 | 13.8 | 2.9 | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue YoY | · | -77.1% | 1612.9% | 7700.0% | · | |
| Revenue CAGR 3Y | · | 574.3% | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $87M | $381M | $22M | $285.0K | |
| Net Income TTM | $-145M | $-302M | $49M | $-198M | $-88M | |
| Market Cap | $1.33B | $259M | $997M | $2.46B | · | |
| P/E | -7.9 | -0.9 | 21.0 | -10.9 | · | |
| P/S | · | 3.0 | 2.6 | 110.6 | · | |
| P/B | 4.3 | 1.6 | 2.3 | 7.2 | · | |
| P / Tangible Book | 4.3 | 1.6 | 2.3 | 7.2 | · | |
| P / Cash Flow | -10.8 | -1.5 | 83.6 | -13.7 | · | |
| P / FCF | -10.7 | -1.5 | 93.3 | -13.5 | · | |
| Earnings Yield | -12.7% | -117.2% | 4.8% | -9.2% | · |
Income Statement 16
| 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 | · | · | $0 | $0 | $0 | $0 | $-665.0K | $416.0K | $-1M | $89M | $108M | $103M | $98M | $71M | $22M | $345.0K | |
| Cost of Revenue | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $8.0K | $6M | $9M | $5M | $6M | $5M | $3M | $172.0K | |
| R&D Expense | $24M | $28M | $21M | $20M | $27M | $22M | $23M | $21M | $23M | $37M | $45M | $30M | $29M | $24M | $23M | $25M | |
| SG&A Expense | $22M | $16M | $15M | $16M | $16M | $16M | $17M | $18M | $22M | $58M | $52M | $49M | $43M | $44M | $41M | $30M | |
| Operating Expenses | $46M | $44M | $37M | $36M | $43M | $38M | $40M | $76M | $75M | $211M | $107M | $84M | $78M | $73M | $66M | $55M | |
| Operating Income | $-46M | $-44M | $-37M | $-36M | $-43M | $-38M | $-41M | $-76M | $-76M | $-122M | $2M | $19M | $20M | $-2M | $-45M | $-55M | |
| Interest Income | $2M | $3M | $3M | $2M | $2M | $2M | $2M | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $3M | $601.0K | |
| Other Non-op | $-53.0K | $-75.0K | $361.0K | $-180.0K | $-546.0K | $-335.0K | $157.0K | $-141.0K | $-483.0K | $-747.0K | $171.0K | $-488.0K | $-81.0K | $-262.0K | $-689.0K | $199.0K | |
| Pretax Income | · | · | $-33M | $-34M | $-41M | $-36M | $-38M | $-73M | $-73M | $-119M | $6M | $22M | $24M | $1M | $-42M | $-54M | |
| Income Tax | · | · | $46.0K | $0 | $0 | $0 | $-635.0K | $0 | $0 | $242.0K | $2M | $2M | $2M | $-170.0K | $579.0K | $-125.0K | |
| Net Income | $-43M | $-41M | $-33M | $-34M | $-41M | $-36M | $-38M | $-73M | $-73M | $-119M | $5M | $21M | $22M | $2M | $-43M | $-54M | |
| EPS (Basic) | $-0.39 | $-0.37 | $-0.28 | $-0.37 | $-0.46 | $-0.42 | $-0.54 | $-1.07 | $-1.07 | $-1.75 | $0.07 | $0.31 | $0.33 | $0.02 | $-0.61 | $-0.92 | |
| EPS (Diluted) | $-0.39 | $-0.37 | $-0.28 | $-0.37 | $-0.46 | $-0.42 | $-0.54 | $-1.07 | $-1.07 | $-1.75 | $0.07 | $0.30 | $0.31 | $0.02 | $-0.61 | $-0.92 | |
| Shares (Basic) | 111,196,883 | 110,563,360 | -173,603,039 | 93,332,930 | 89,138,568 | 85,697,108 | -135,828,573 | 68,091,446 | 68,024,929 | 67,854,356 | -134,131,092 | 67,414,669 | 67,233,617 | 66,717,271 | -109,917,852 | 58,533,226 | |
| Shares (Diluted) | 111,196,883 | 110,563,360 | -173,603,039 | 93,332,930 | 89,138,568 | 85,697,108 | -135,828,573 | 68,091,446 | 68,024,929 | 67,854,356 | -140,752,912 | 69,748,547 | 70,132,040 | 70,863,665 | -109,917,852 | 58,533,226 | |
| EBITDA | $-46M | $-44M | · | $-36M | $-43M | $-38M | · | $-76M | $-76M | $-122M | · | $19M | $20M | $-2M | · | $-55M |
Balance Sheet 22
| 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 | $49M | $229M | $227M | $225M | $58M | $60M | $77M | $72M | $75M | $171M | $170M | $135M | $248M | $115M | $63M | $108M | |
| Short-term Investments | $201M | $51M | $90M | $119M | $123M | $144M | $99M | $163M | $235M | $203M | $201M | $220M | $110M | $231M | $284M | $55M | |
| Receivables | · | · | $88.0K | $132.0K | $103.0K | $300.0K | $447.0K | $2M | $4M | $20M | $40M | $29M | $33M | $18M | $15M | $137.0K | |
| Inventory | · | · | · | · | · | · | · | · | · | · | $38M | $32M | $25M | $13M | $10M | $563.0K | |
| Prepaid Expense | $6M | $5M | $7M | $9M | $6M | $12M | $12M | $9M | $13M | $17M | $15M | $17M | $12M | $13M | $10M | $8M | |
| Current Assets | $256M | $285M | $324M | $353M | $187M | $216M | $189M | $245M | $327M | $411M | $465M | $434M | $427M | $389M | $382M | $172M | |
| PP&E (Net) | $199.0K | $212.0K | $310.0K | $399.0K | $445.0K | $816.0K | $961.0K | $1M | $1M | $2M | $3M | $3M | $3M | $3M | $3M | $2M | |
| PP&E (Gross) | · | · | $2M | · | · | · | $2M | · | · | · | $4M | · | · | · | $3M | · | |
| Accum. Depreciation | · | · | $2M | · | · | · | $1M | · | · | · | $2M | · | · | · | $540.0K | · | |
| Other Non-current Assets | · | $2M | · | $2M | · | $11.0K | · | $482.0K | $479.0K | $493.0K | $701.0K | $476.0K | $466.0K | $466.0K | $466.0K | $456.0K | |
| Total Assets | $265M | $294M | $333M | $363M | $195M | $220M | $194M | $251M | $332M | $417M | $517M | $467M | $454M | $408M | $391M | $181M | |
| Accounts Payable | $6M | $4M | $4M | $5M | $3M | $5M | $3M | $1M | $5M | $21M | $22M | $6M | $25M | $11M | $6M | $7M | |
| Accrued Liabilities | $15M | $11M | $18M | $19M | $17M | $12M | $24M | $50M | $63M | $68M | $58M | $37M | $37M | $39M | $38M | · | |
| Current Liabilities | $21M | $16M | $23M | $26M | $21M | $18M | $28M | $54M | $70M | $92M | $82M | $46M | $64M | $52M | $47M | $33M | |
| Capital Leases | $4M | $4M | $5M | $5M | $5M | $327.0K | $463.0K | $595.0K | $772.0K | $1M | $2M | $3M | $3M | $4M | $4M | $5M | |
| Total Liabilities | $25M | $20M | $27M | $31M | $27M | $18M | $29M | $55M | $71M | $93M | $84M | $48M | $67M | $55M | $51M | $37M | |
| Common Stock | $11.0K | $11.0K | $11.0K | $11.0K | $9.0K | $9.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $6.0K | |
| Retained Earnings | $-836M | $-793M | $-751M | $-718M | $-684M | $-643M | $-607M | $-569M | $-496M | $-424M | $-305M | $-310M | $-331M | $-353M | $-354M | $-312M | |
| AOCI | $19.0K | $240.0K | $404.0K | $815.0K | $551.0K | $0 | $-92.0K | $641.0K | $-97.0K | $-77.0K | $197.0K | $-151.0K | $-72.0K | $25.0K | $-86.0K | $-725.0K | |
| Stockholders' Equity | $239M | $273M | $305M | $332M | $168M | $201M | $165M | $196M | $261M | $324M | $433M | $418M | $386M | $353M | $341M | $144M | |
| Liabilities + Equity | $265M | $294M | $333M | $363M | $195M | $220M | $194M | $251M | $332M | $417M | $517M | $467M | $454M | $408M | $391M | $181M | |
| Shares Outstanding | 111,368,283 | 111,026,477 | 109,884,502 | 109,766,382 | 89,156,350 | 89,080,821 | 68,629,738 | 68,545,508 | 68,079,057 | 67,975,587 | 67,707,432 | 67,505,126 | 67,354,417 | 67,095,603 | 66,512,011 | 58,533,226 |
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 | $8M | $6M | $6M | $7M | $7M | $7M | $7M | $7M | $10M | $10M | $10M | $10M | $10M | $8M | $6M | $6M | |
| Restructuring | · | · | $0 | $0 | $0 | · | $0 | $0 | $23M | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-31M | $-37M | $-28M | $-30M | $-25M | $-40M | $-59M | $-42M | $-67M | $-489.0K | $14M | $-5M | $9M | $-5M | $-50M | $-43M | |
| CapEx | · | · | $86.0K | $24.0K | $17.0K | $11.0K | $20.0K | $-19.0K | $89.0K | $67.0K | $356.0K | $357.0K | $278.0K | $250.0K | $620.0K | $459.0K | |
| Investing Cash Flow | $-150M | $36M | $29M | $5M | $23M | $-44M | $65M | $39M | $-29M | $819.0K | $21M | $-108M | $123M | $56M | $-228M | $84M | |
| Financing Cash Flow | $1M | $3M | $-208.0K | $192M | $-31.0K | $66M | $110.0K | $80.0K | $27.0K | $131.0K | $230.0K | $889.0K | $1M | $1M | $232M | $0 | |
| Net Change in Cash | $-180M | $2M | $1M | $167M | $-2M | $-18M | $6M | $-2M | $-96M | $351.0K | $35M | $-113M | $133M | $52M | $-45M | $41M | |
| Taxes Paid | · | · | · | · | $-30.0K | $-30.0K | $499.0K | $17.0K | $-6.0K | $-275.0K | · | $-2M | · | · | · | · | |
| Free Cash Flow | · | · | · | · | · | $-40M | · | · | · | $-556.0K | · | · | · | $-5M | · | · |
Profitability 7
| 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 | · | · | · | · | · | · | · | -18187.7% | 7457.1% | -137.8% | · | 18.2% | 20.6% | -2.9% | · | -15849.6% | |
| Net Margin | · | · | · | · | · | · | · | -17476.9% | 7106.6% | -134.0% | · | 20.3% | 22.5% | 2.2% | · | -15581.5% | |
| Pretax Margin | · | · | · | · | · | · | · | -17476.9% | 7106.6% | -133.7% | · | 21.8% | 24.4% | 2.0% | · | -15617.7% | |
| EBITDA Margin | · | · | · | · | · | · | · | -18187.7% | 7457.1% | -137.8% | · | 18.2% | 20.6% | -2.9% | · | -15849.6% | |
| ROA | -18.9% | -16.1% | · | -11.2% | -15.7% | -11.3% | · | -20.3% | -18.5% | -28.8% | · | 6.5% | 6.5% | 0.46% | · | -59.2% | |
| ROE | -21.3% | -17.4% | · | -13.0% | -19.3% | -13.7% | · | -23.7% | -22.4% | -35.1% | · | 7.4% | 7.6% | 0.53% | · | -74.7% | |
| ROIC | · | · | · | -10.8% | -25.5% | -18.8% | · | · | · | -37.7% | · | 4.2% | 4.8% | -0.65% | · | -37.9% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 12.1 | 17.9 | · | 13.7 | 8.7 | 12.1 | · | 4.5 | 4.7 | 4.5 | · | 9.5 | 6.7 | 7.5 | · | 5.3 | |
| Quick Ratio | 11.9 | 17.5 | · | 13.3 | 8.4 | 11.4 | · | 4.4 | 4.5 | 4.3 | · | 8.4 | 6.1 | 7.0 | · | 5.0 |
Efficiency 3
| 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 | 0.2 | · | 0.3 | 0.3 | 0.2 | · | 0.0 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | · | · | · | 0.3 | 0.4 | 0.8 | · | 0.6 | |
| Receivables Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | -0.1 | 4.7 | · | 7.0 | 5.9 | 8.1 | · | 5.0 |
Valuation (TTM) 10
| 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 | $416.0K | $416.0K | · | $416.0K | $-607.0K | $88M | · | $191M | $289M | $361M | · | $273M | · | · | · | · | |
| Net Income TTM | $-161M | $-153M | · | $-184M | $-223M | $-300M | · | $-243M | $-149M | $-74M | · | $-9M | $-84M | $-154M | · | $-179M | |
| Market Cap | $2.00B | $1.54B | · | $1.49B | $571M | $315M | · | $222M | $129M | $193M | · | $1.24B | $1.45B | $1.97B | · | $1.65B | |
| P/E | -11.3 | -8.6 | · | -5.9 | -2.1 | -0.8 | · | -0.9 | -0.9 | -2.5 | · | -63.1 | -14.2 | -10.6 | · | -4.5 | |
| P/S | 4808.1 | 3709.8 | · | 3585.9 | -941.5 | 3.6 | · | 1.2 | 0.4 | 0.5 | · | 4.5 | · | · | · | · | |
| P/B | 8.4 | 5.6 | · | 4.5 | 3.4 | 1.6 | · | 1.1 | 0.5 | 0.6 | · | 3.0 | 3.8 | 5.6 | · | 11.4 | |
| P / Tangible Book | 8.4 | 5.6 | · | 4.5 | 3.4 | 1.6 | · | 1.1 | 0.5 | 0.6 | · | 3.0 | 3.8 | 5.6 | · | 11.4 | |
| P / Cash Flow | · | -41.8 | · | · | · | -7.9 | · | · | · | -394.8 | · | · | · | -388.1 | · | · | |
| P / FCF | · | · | · | · | · | -7.9 | · | · | · | -347.2 | · | · | · | -369.9 | · | · | |
| Earnings Yield | -8.8% | -11.7% | · | -17.1% | -47.1% | -121.8% | · | -110.8% | -116.3% | -39.4% | · | -1.6% | -7.0% | -9.4% | · | -22.0% |
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 | |
|---|---|---|---|---|---|
| Revenue | $0 | $87M | $381M | $22M | $285.0K |
| Operating Margin % | — | -360.2% | 10.2% | -905.7% | — |
| Net Income | $-145M | $-302M | $49M | $-198M | $-88M |
| Diluted EPS | $-1.53 | $-4.43 | $0.70 | $-3.39 | $-13.35 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 14.3 | 6.7 | 5.7 | 8.2 | — |
| Quick Ratio | 14.0 | 6.2 | 5.0 | 7.8 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-123M | $-168M | $11M | $-182M | — |
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Institutional owners (13F) 228 filers · $1.6B 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 62 (+36 vs prior Q) | 13 (-20 vs prior Q) | 67 (0 vs prior Q) | 63 (+12 vs prior Q) | +3.5M |
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 |
|---|---|---|---|---|
| FMR LLC | $261,703,547 | 14,571,467 | 16.32% | Shares |
| PERCEPTIVE ADVISORS LLC | $149,694,481 | 8,334,882 | 9.34% | Shares |
| TCG Crossover Management, LLC | $112,138,864 | 6,243,812 | 6.99% | Shares |
| Commodore Capital LP | $101,474,000 | 5,650,000 | 6.33% | Shares |
| Saturn V Capital Management LP | $83,048,854 | 4,624,101 | 5.18% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $75,867,063 | 4,224,224 | 4.73% | Shares |
| VANGUARD GROUP INC | $61,683,971 | 5,106,289 | 3.85% | Shares |
| Driehaus Capital Management LLC | $54,543,981 | 3,036,970 | 3.40% | Shares |
| First Light Asset Management, LLC | $54,297,678 | 3,023,256 | 3.39% | Shares |
| STATE STREET CORP | $46,755,933 | 2,603,337 | 2.92% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $36,185,723 | 2,014,412 | 2.26% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $34,124,000 | 1,900,000 | 2.13% | Shares |
| GOLDMAN SACHS GROUP INC | $27,615,512 | 1,537,612 | 1.72% | Shares |
| Siren, L.L.C. | $26,591,325 | 1,480,586 | 1.66% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $23,844,428 | 1,327,536 | 1.49% | Shares |
| 683 Capital Management, LLC | $22,980,036 | 1,279,512 | 1.43% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $19,065,151 | 1,061,534 | 1.19% | Shares |
| Alyeska Investment Group, L.P. | $18,912,149 | 1,053,015 | 1.18% | Shares |
| Almitas Capital LLC | $17,508,863 | 974,881 | 1.09% | Shares |
| Jones Hill Capital LP | $16,057,282 | 894,058 | 1.00% | Shares |
| Woodline Partners LP | $15,201,111 | 846,387 | 0.95% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $14,544,870 | 809,848 | 0.91% | Shares |
| Boxer Capital Management, LLC | $14,368,000 | 800,000 | 0.90% | Shares |
| Aberdeen Group plc | $13,248,553 | 737,670 | 0.83% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $13,021,539 | 725,030 | 0.81% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $12,949,196 | 721,002 | 0.81% | Shares |
| GREAT POINT PARTNERS LLC | $12,572,000 | 700,000 | 0.78% | Shares |
| Balyasny Asset Management L.P. | $12,302,133 | 684,974 | 0.77% | Shares |
| Qube Research & Technologies Ltd | $12,237,746 | 681,389 | 0.76% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $11,190,481 | 623,078 | 0.70% | Shares |
| TWO SIGMA INVESTMENTS, LP | $10,658,093 | 593,435 | 0.66% | Shares |
| BANK OF AMERICA CORP /DE/ | $9,650,357 | 537,325 | 0.60% | Shares |
| Rock Springs Capital Management LP | $8,975,761 | 499,764 | 0.56% | Shares |
| ADAR1 Capital Management, LLC | $8,879,029 | 494,378 | 0.55% | Shares |
| Nantahala Capital Management, LLC | $8,740,845 | 486,684 | 0.55% | Shares |
| Nearwater Capital Markets, Ltd | $7,633,000 | 425,000 | 0.48% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,279,188 | 405,300 | 0.45% | Call option |
| Parkman Healthcare Partners LLC | $7,162,125 | 398,782 | 0.45% | Shares |
| HighVista Strategies LLC | $6,933,997 | 386,080 | 0.43% | Shares |
| STEMPOINT CAPITAL LP | $6,902,100 | 384,304 | 0.43% | Shares |
| Logos Global Management LP | $6,286,000 | 350,000 | 0.39% | Shares |
| Trexquant Investment LP | $6,275,924 | 349,439 | 0.39% | Shares |
| Ensign Peak Advisors, Inc | $5,485,720 | 305,441 | 0.34% | Shares |
| Tetragon Partners GP Ltd | $5,350,751 | 297,926 | 0.33% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $4,937,994 | 274,944 | 0.31% | Shares |
| FIRST TRUST ADVISORS LP | $4,572,382 | 254,587 | 0.29% | Shares |
| JANE STREET GROUP, LLC | $4,338,992 | 241,592 | 0.27% | Shares |
| SummitTX Capital, L.P. | $4,089,312 | 227,690 | 0.26% | Shares |
| TWO SIGMA ADVISERS, LP | $3,967,084 | 328,401 | 0.25% | Shares |
| Cormorant Asset Management, LP | $3,592,000 | 200,000 | 0.22% | Shares |
| Aldebaran Capital, LLC | $3,518,220 | 195,892 | 0.22% | Shares |
| Walleye Capital LLC | $3,351,120 | 186,588 | 0.21% | Shares |
| ORBIMED ADVISORS LLC | $3,293,864 | 183,400 | 0.21% | Shares |
| BlackRock, Inc. | $3,211,122 | 178,793 | 0.20% | Shares |
| ACUTA CAPITAL PARTNERS, LLC | $3,019,345 | 168,115 | 0.19% | Shares |
| NORGES BANK | $2,871,804 | 159,900 | 0.18% | Shares |
| Alpha Wave Global, LP | $2,791,379 | 155,422 | 0.17% | Shares |
| Swiss National Bank | $2,589,832 | 144,200 | 0.16% | Shares |
| PFM Health Sciences, LP | $2,580,852 | 143,700 | 0.16% | Shares |
| AMERIPRISE FINANCIAL INC | $2,253,693 | 125,484 | 0.14% | Shares |
| Lighthouse Investment Partners, LLC | $2,207,446 | 122,909 | 0.14% | Shares |
| Ikarian Capital, LLC | $2,110,301 | 117,500 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $2,028,032 | 112,920 | 0.13% | Shares |
| ALPS ADVISORS INC | $2,019,548 | 112,447 | 0.13% | Shares |
| Elmind Capital, LP | $2,011,520 | 112,000 | 0.13% | Shares |
| Campbell & CO Investment Adviser LLC | $1,813,295 | 100,963 | 0.11% | Shares |
| Affinity Asset Advisors, LLC | $1,778,022 | 98,999 | 0.11% | Shares |
| Bank of New York Mellon Corp | $1,759,164 | 97,949 | 0.11% | Shares |
| 683 Capital Management, LLC | $1,734,936 | 96,600 | 0.11% | Call option |
| Quantinno Capital Management LP | $1,452,066 | 80,850 | 0.09% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,451,160 | 104,400 | 0.09% | Shares |
| 1492 Capital Management LLC | $1,432,328 | 79,751 | 0.09% | Shares |
| JPMORGAN CHASE & CO | $1,325,363 | 70,875 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $1,206,409 | 67,172 | 0.08% | Shares |
| Schonfeld Strategic Advisors LLC | $1,199,799 | 66,804 | 0.07% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $1,195,382 | 66,558 | 0.07% | Shares |
| CITIGROUP INC | $1,138,251 | 63,377 | 0.07% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,100,553 | 61,278 | 0.07% | Shares |
| JANE STREET GROUP, LLC | $1,079,396 | 60,100 | 0.07% | Put option |
| Corient Private Wealth LP | $1,065,424 | 59,322 | 0.07% | Shares |
| Moody Aldrich Partners LLC | $1,038,124 | 57,802 | 0.06% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,022,786 | 56,948 | 0.06% | Shares |
| MetLife Investment Management, LLC | $1,000,372 | 55,700 | 0.06% | Shares |
| D. E. Shaw & Co., Inc. | $979,485 | 54,537 | 0.06% | Shares |
| BARCLAYS PLC | $968,350 | 53,917 | 0.06% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $903,528 | 65,002 | 0.06% | Shares |
| FEDERATED HERMES, INC. | $903,478 | 50,305 | 0.06% | Shares |
| Hudson Bay Capital Management LP | $898,000 | 50,000 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $859,404 | 47,851 | 0.05% | Shares |
| FOX RUN MANAGEMENT, L.L.C. | $804,913 | 44,817 | 0.05% | Shares |
| Allostery Investments LP | $769,963 | 120,119 | 0.05% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $760,624 | 42,351 | 0.05% | Shares |
| ADAR1 Capital Management, LLC | $720,196 | 40,100 | 0.04% | Put option |
| Aquatic Capital Management LLC | $708,073 | 39,425 | 0.04% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $679,391 | 37,828 | 0.04% | Shares |
| Invesco Ltd. | $660,443 | 36,773 | 0.04% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $647,638 | 36,060 | 0.04% | Shares |
| JENNISON ASSOCIATES LLC | $643,705 | 35,841 | 0.04% | Shares |
| TUDOR INVESTMENT CORP ET AL | $635,964 | 35,410 | 0.04% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $616,028 | 34,300 | 0.04% | Shares |
Company insiders 15 insiders · 7 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Joshua B Cohen | Co-Chief Executive Officer | March 5, 2026 A | 3,583,548 | 0 | 7 | $-3,044,636 |
| Justin B. Klee | Co-Chief Executive Officer | March 5, 2026 A | 3,583,481 | 0 | 7 | $-3,044,891 |
| James M Frates | Chief Financial Officer | March 5, 2026 A | 261,628 | 0 | 4 | $-358,576 |
| Gina Mazzariello | Chief Legal Officer | July 10, 2026 S | 179,090 | 0 | 6 | $-865,895 |
| Camille L Bedrosian | Chief Medical Officer | March 5, 2026 A | 265,285 | 0 | 3 | $-364,153 |
| Patrick D Yeramian | Chief Medical Officer | Jan. 9, 2024 S | 205,605 | 0 | 0 | $0 |
| Margaret Olinger | Chief Commercial Officer | Dec. 27, 2023 M | 276,108 | 0 | 0 | $0 |
| Bernhardt G Zeiher | Director | June 4, 2026 A | 10,000 | 0 | 0 | $0 |
| Karen Firestone | Director | June 4, 2026 A | 66,900 | 2 | 0 | $152,183 |
| Paul R. Fonteyne | Director | June 4, 2026 A | 3,947 | 0 | 0 | $0 |
| Daphne Quimi | Director | June 4, 2026 A | 5,000 | 0 | 0 | $0 |
| George M Milne JR | Director | June 4, 2026 A | 812,881 | 0 | 0 | $0 |
| Isaac Cheng | Director | June 9, 2022 A | 6,578 | 0 | 0 | $0 |
| Morningside Venture Investments Ltd | 10% owner | Aug. 15, 2023 G | 4,997,302 | 0 | 0 | $0 |
| ALS Invest 1 B.V. | 10% owner | July 6, 2022 S | 5,895,280 | 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 |
|---|---|---|---|---|---|
| Morningside Venture Investments Limited (2), MVIL, LLC (2), Frances Anne Elizabeth Richard (2), Jill Marie Franklin (2), Peter Stuart Allenby Edwards (2), Cheung Ka Ho (2), Cheng Yee Wing Betty (2), Wong See Wai (2) ×5 filings | Oct. 4, 2023 | — | 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.
ETF ownership Held by 50 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 |
|---|---|---|---|---|
| PILL · Direxion Shares ETF Trust | 1.43% | 11,556 NS | April 30, 2026 | N-PORT |
| SBIO · ALPS ETF Trust | 1.01% | 113,933 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.90% | 21,068 NS | April 30, 2026 | N-PORT |
| FMED · Fidelity Covington Trust | 0.82% | 23,554 NS | May 31, 2026 | N-PORT |
| IHE · iShares Trust | 0.45% | 301,742 SH | Aug. 8, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.26% | 168,022 NS | April 30, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.25% | 47,310 NS | May 31, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.17% | 6,054 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.17% | 680,529 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.14% | 828,258 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.13% | 145,454 SH | Aug. 8, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.10% | 82,935 NS | April 30, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.10% | 98,590 SH | Aug. 8, 2026 | Daily |
| ESSC · Strategy Shares | 0.10% | 1,602 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.09% | 104,336 SH | Aug. 8, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.09% | 69,649 NS | April 30, 2026 | N-PORT |
| BIB · ProShares Trust | 0.08% | 4,059 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.07% | 2,325,160 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.07% | 30,496 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.07% | 83,712 SH | Aug. 8, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.07% | 49,811 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.06% | 43,655 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.06% | 18,288 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.05% | 15,666 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 529,383 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.05% | 87,250 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.04% | 39,313 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.03% | 4,300 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.03% | 3,700 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.03% | 402,853 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 966,947 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.02% | 216,297 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.02% | 3,363 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.02% | 4,961 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.02% | 150,411 NS | April 30, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 30,218 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 3,404 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 3,710 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 85 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 39,887 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 115,613 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 23,926 SH | Aug. 8, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 4,500 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 54,057 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 58,783 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 13,188 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 8,949 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,154,723 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 7,178 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 8 NS | April 30, 2026 | N-PORT |