AVIR Atea Pharmaceuticals, Inc. - common stock
$5.22
Price · Aug 18, 2026
Fundamentals as of Aug 12, 2026
52W Range
$3–$6
66% of range
Analyst Rating
BUY
9 analysts
Price Target
$9
+80% upside
P/E (TTM)
-2.7
ROE
-49.5%
Net Profit Margin
—
AVIR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$5.22
Market Cap
$408M
P/E (TTM)
-2.7
EPS (TTM)
$-1.94
Revenue (TTM)
—
Div Yield
—
ROE
-49.5%
Debt/Equity
—
52W Range
$3 – $6
AVIR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
2020-12-31
→
2021-12-31
EPS
$-1.94
2019-12-31
→
2025-12-31
Free Cash Flow
—
2020-12-31
→
2022-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AVIR
Peer Median
P/E (TTM)
-2.7
44.2
P/B
1.5
3.5
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AVIR
Peer Median
ROA
-40.6%
-39.4%
ROE
-49.5%
-64.1%
ROIC
-63.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AVIR
Peer Median
Current Ratio
7.8
6.5
Quick Ratio
2.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AVIR
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AVIR
Peer Median
AVIR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
9 analysts
- Strong Buy 3 33.3%
- Buy 4 44.4%
- Hold 2 22.2%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
3 analysts · 2026-08-15
Median
$10.00
Mean
$9.42
← Below all targets
$5.22
Low
$7.00
High
$11.25
Median target
$10.00
+91.6%
Mean target
$9.42
+80.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.41 | $-0.57 | 0.16% |
| March 31, 2026 | $-0.57 | $-0.60 | 0.03% |
| Dec. 31, 2025 | $-0.57 | $-0.54 | -0.03% |
| Sept. 30, 2025 | $-0.53 | $-0.45 | -0.08% |
| June 30, 2025 | $-0.44 | $-0.42 | -0.02% |
| March 31, 2025 | $-0.40 | $-0.42 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AVIR | $279M | -1.8 | — | — | -49.5% | — |
| AQST | $788M | -8.3 | -22.6% | -188.1% | 157.7% | — |
| RLMD | $354M | -3.3 | 93.7% | — | -112.0% | — |
| BIOA | $495M | -5.9 | — | -896.1% | -28.4% | — |
| TTRX | $116M | -32.8 | — | — | -141.7% | — |
| LLY | — | 46.8 | 44.7% | 31.7% | 101.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | · | $351M | $49M | |
| R&D Expense | $148M | $144M | $114M | $82M | $167M | $38M | |
| SG&A Expense | $33M | $49M | $50M | $49M | $46M | $22M | |
| Operating Expenses | $181M | $193M | $164M | $131M | $213M | $60M | |
| Operating Income | $-181M | $-193M | $-164M | $-131M | $138M | $-11M | |
| Pretax Income | $-165M | $-167M | $-135M | $-119M | $139M | $-11M | |
| Income Tax | $-6M | $925.0K | $1M | $-4M | $17M | · | |
| Net Income | $-158M | $-168M | $-136M | $-116M | $121M | $-11M | |
| EPS (Basic) | $-1.94 | $-2.00 | $-1.63 | $-1.39 | $1.46 | $-0.51 | |
| EPS (Diluted) | $-1.94 | $-2.00 | $-1.63 | $-1.39 | $1.37 | $-0.51 | |
| Shares (Basic) | 81,495,352 | 84,264,715 | 83,389,750 | 83,245,385 | 82,820,037 | 21,592,441 | |
| Shares (Diluted) | 81,495,352 | 84,264,715 | 83,389,750 | 83,245,385 | 88,249,243 | 21,592,441 | |
| EBITDA | $-181M | $-193M | $-164M | $-131M | $138M | $-11M |
Balance Sheet 20
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $96M | $65M | $144M | $188M | $764M | $850M | |
| Prepaid Expense | $9M | $8M | $12M | $14M | $8M | $8M | |
| Current Assets | $311M | $462M | $590M | $661M | $772M | $863M | |
| PP&E (Net) | $457.0K | $873.0K | $1M | $2M | $23.0K | $48.0K | |
| PP&E (Gross) | $2M | $2M | $2M | $2M | $184.0K | $180.0K | |
| Accum. Depreciation | $2M | $1M | $689.0K | $273.0K | $161.0K | $132.0K | |
| Other Non-current Assets | $3M | $197.0K | $1M | $1M | $466.0K | $107.0K | |
| Total Assets | $315M | $465M | $595M | $667M | $773M | $864M | |
| Accounts Payable | $13M | $4M | $4M | $3M | $5M | $60.0K | |
| Current Liabilities | $40M | $19M | $32M | $18M | $57M | $316M | |
| Capital Leases | $0 | $842.0K | $2M | $2M | · | · | |
| Other Non-current Liabilities | · | · | · | · | $6M | $36.0K | |
| Total Liabilities | $40M | $26M | $40M | $26M | $63M | $316M | |
| Common Stock | $78.0K | $84.0K | $83.0K | $83.0K | $83.0K | $82.0K | |
| Paid-in Capital | $798M | $803M | $751M | $701M | $654M | $613M | |
| Retained Earnings | $-523M | $-364M | $-196M | $-60M | $56M | $-65M | |
| AOCI | $174.0K | $233.0K | $207.0K | $-684.0K | · | · | |
| Stockholders' Equity | $275M | $439M | $555M | $641M | $710M | $548M | |
| Liabilities + Equity | $315M | $465M | $595M | $667M | $773M | $864M | |
| Shares Outstanding | 78,126,796 | 84,463,059 | 83,435,513 | 83,287,639 | 83,102,730 | 82,436,937 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $416.0K | $416.0K | $416.0K | $260.0K | $29.0K | $19.0K | |
| Stock-based Comp | $21M | $52M | $49M | $47M | $40M | $7M | |
| Deferred Tax | $-6M | $0 | · | · | · | $0 | |
| Operating Cash Flow | $-132M | $-135M | $-85M | $-121M | $-87M | $297M | |
| CapEx | · | · | · | $2M | $4.0K | $26.0K | |
| Investing Cash Flow | $189M | $56M | $40M | $-455M | $-4.0K | $-26.0K | |
| Stock Issued | · | · | · | · | $1M | $27.0K | |
| Stock Repurchased | $26M | $0 | · | · | · | · | |
| Net Stock Activity | $-26M | · | · | · | $1M | $27.0K | |
| Financing Cash Flow | $-26M | $267.0K | $257.0K | $370.0K | $1M | $532M | |
| Net Change in Cash | $31M | $-79M | $-45M | $-576M | $-86M | $828M | |
| Free Cash Flow | · | · | · | $-123M | $-87M | $297M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | 39.4% | -22.7% | |
| Net Margin | · | · | · | · | 34.5% | -22.5% | |
| Pretax Margin | · | · | · | · | 39.4% | · | |
| EBITDA Margin | · | · | · | · | 39.4% | -22.7% | |
| ROA | -40.6% | -31.8% | -21.6% | -16.1% | 14.8% | -2.5% | |
| ROE | -49.5% | -37.5% | -23.9% | -17.8% | 18.8% | -4.7% | |
| ROIC | -63.2% | -44.2% | -29.8% | -19.8% | 17.0% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 7.8 | 24.9 | 18.2 | 35.8 | 13.6 | 2.7 | |
| Quick Ratio | 2.4 | 3.5 | 4.4 | 10.2 | 13.4 | 2.7 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | · | 0.4 | 0.1 |
Growth Rates 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | · | · | · | · | 622.5% | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | · | · | · | · | $351M | $49M | |
| Net Income TTM | $-158M | $-168M | $-136M | $-116M | $121M | $-11M | |
| Market Cap | $279M | $283M | $254M | $401M | $743M | $3.44B | |
| P/E | -1.8 | -1.7 | -1.9 | -3.5 | 6.5 | -81.9 | |
| P/S | · | · | · | · | 2.1 | 70.8 | |
| P/B | 1.0 | 0.6 | 0.5 | 0.6 | 1.0 | 6.3 | |
| P / Tangible Book | 1.0 | 0.6 | 0.5 | 0.6 | 1.0 | 6.3 | |
| P / Cash Flow | -2.1 | -2.1 | -3.0 | -3.3 | -8.5 | 11.6 | |
| P / FCF | · | · | · | -3.3 | -8.5 | 11.6 | |
| Earnings Yield | -54.3% | -59.7% | -53.4% | -28.9% | 15.3% | -1.2% |
Income Statement 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $28M | $41M | $48M | $38M | $32M | $30M | $26M | $26M | $35M | $58M | $35M | $28M | $22M | $29M | $28M | $5M | |
| SG&A Expense | $7M | $7M | $7M | $7M | $9M | $9M | $13M | $11M | $12M | $12M | $12M | $13M | $13M | $13M | $12M | $11M | |
| Operating Expenses | $35M | $48M | $55M | $46M | $41M | $39M | $39M | $37M | $47M | $70M | $47M | $41M | $35M | $42M | $40M | $16M | |
| Operating Income | $-35M | $-48M | $-55M | $-46M | $-41M | $-39M | $-39M | $-37M | $-47M | $-70M | $-47M | $-41M | $-35M | $-42M | $-40M | $-16M | |
| Pretax Income | $-33M | $-45M | $-52M | $-42M | $-37M | $-34M | $-33M | $-31M | $-40M | $-63M | $-39M | $-33M | $-28M | $-35M | $-34M | $-12M | |
| Income Tax | $24.0K | $50.0K | $-7M | $196.0K | $207.0K | $203.0K | $225.0K | $226.0K | $243.0K | $231.0K | $349.0K | $221.0K | $251.0K | $197.0K | $123.0K | $-4M | |
| Net Income | $-33M | $-45M | $-45M | $-42M | $-37M | $-34M | $-34M | $-31M | $-41M | $-63M | $-39M | $-33M | $-28M | $-35M | $-34M | $-8M | |
| EPS (Basic) | $-0.41 | $-0.57 | $-0.57 | $-0.53 | $-0.44 | $-0.40 | $-0.40 | $-0.37 | $-0.48 | $-0.75 | $-0.46 | $-0.40 | $-0.34 | $-0.43 | $-0.40 | $-0.10 | |
| EPS (Diluted) | $-0.41 | $-0.57 | $-0.57 | $-0.53 | $-0.44 | $-0.40 | $-0.40 | $-0.37 | $-0.48 | $-0.75 | $-0.46 | $-0.40 | $-0.34 | $-0.43 | $-0.40 | $-0.10 | |
| Shares (Basic) | 80,050,518 | 79,198,204 | -166,463,391 | 79,052,154 | 83,747,335 | 85,159,254 | -168,327,178 | 84,422,000 | 84,253,700 | 83,916,193 | -166,741,793 | 83,399,769 | 83,399,377 | 83,332,397 | -166,447,151 | 83,258,537 | |
| Shares (Diluted) | 80,050,518 | 79,198,204 | -166,463,391 | 79,052,154 | 83,747,335 | 85,159,254 | -168,327,178 | 84,422,000 | 84,253,700 | 83,916,193 | -166,741,793 | 83,399,769 | 83,399,377 | 83,332,397 | -166,447,151 | 83,258,537 | |
| EBITDA | $-35M | $-48M | · | $-46M | $-41M | $-39M | · | $-37M | $-47M | $-70M | · | $-41M | $-35M | $-42M | · | $-16M |
Balance Sheet 20
| 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 | $77M | $79M | $96M | $77M | $88M | $119M | $65M | $98M | $243M | $161M | $144M | $138M | $214M | $183M | $188M | $176M | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $5M | |
| Prepaid Expense | $9M | $7M | $9M | $7M | $6M | $8M | $8M | $4M | $4M | $7M | $12M | $8M | $13M | $12M | $14M | $12M | |
| Current Assets | $229M | $263M | $311M | $336M | $386M | $434M | $462M | $487M | $506M | $549M | $590M | $603M | $621M | $632M | $661M | $682M | |
| PP&E (Net) | $249.0K | $353.0K | $457.0K | $561.0K | $665.0K | $769.0K | $873.0K | $977.0K | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | |
| PP&E (Gross) | · | · | $2M | · | · | · | $2M | · | · | · | $2M | · | · | · | $2M | · | |
| Accum. Depreciation | · | · | $2M | · | · | · | $1M | · | · | · | $689.0K | · | · | · | $273.0K | · | |
| Other Non-current Assets | $3M | $3M | $3M | $5M | $4M | $4M | $197.0K | $2M | $1M | $1M | $1M | $1M | $1M | $2M | $1M | · | |
| Total Assets | $232M | $267M | $315M | $343M | $392M | $440M | $465M | $491M | $510M | $553M | $595M | $608M | $626M | $638M | $667M | $687M | |
| Accounts Payable | $10M | $9M | $13M | $4M | $9M | $7M | $4M | $6M | $5M | $21M | $4M | $395.0K | $4M | $700.0K | $3M | $1M | |
| Current Liabilities | $28M | $33M | $40M | $20M | $20M | $22M | $19M | $25M | $27M | $41M | $32M | $19M | $16M | $12M | $18M | $16M | |
| Capital Leases | · | · | $0 | $213.0K | $425.0K | $634.0K | $842.0K | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $3M | |
| Total Liabilities | · | · | $40M | $27M | $27M | $29M | $26M | $32M | $34M | $49M | $40M | $26M | $24M | $20M | $26M | $23M | |
| Common Stock | $80.0K | $80.0K | $78.0K | $78.0K | $81.0K | $85.0K | $84.0K | $84.0K | $84.0K | $84.0K | $83.0K | $83.0K | $83.0K | $83.0K | $83.0K | $83.0K | |
| Paid-in Capital | $805M | $802M | $798M | $793M | $800M | $809M | $803M | $788M | $776M | $763M | $751M | $739M | $726M | $714M | $701M | $689M | |
| Retained Earnings | $-601M | $-568M | $-523M | $-478M | $-436M | $-398M | $-364M | $-331M | $-300M | $-259M | $-196M | $-157M | $-124M | $-95M | $-60M | $-25M | |
| AOCI | $-96.0K | $-97.0K | $174.0K | $238.0K | $37.0K | $118.0K | $233.0K | $641.0K | $-280.0K | $-181.0K | $207.0K | $-262.0K | $-310.0K | $-307.0K | $-684.0K | $-855.0K | |
| Stockholders' Equity | $204M | $234M | $275M | $316M | $364M | $411M | $439M | $459M | $476M | $504M | $555M | $582M | $602M | $618M | $641M | $663M | |
| Liabilities + Equity | $232M | $267M | $315M | $343M | $392M | $440M | $465M | $491M | $510M | $553M | $595M | $608M | $626M | $638M | $667M | $687M | |
| Shares Outstanding | 80,204,699 | 80,027,099 | 78,126,796 | 78,126,796 | 81,137,478 | 85,579,475 | 84,463,059 | 84,463,059 | 84,422,000 | 84,223,100 | 83,435,513 | 83,435,513 | 83,399,377 | 83,399,377 | 83,287,639 | 83,287,639 |
Cash Flow 8
| 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 | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $104.0K | $106.0K | |
| Stock-based Comp | $3M | $4M | $5M | $5M | $5M | $7M | $14M | $12M | $13M | $13M | $12M | $12M | $12M | $13M | $12M | $12M | |
| Operating Cash Flow | $-37M | $-46M | $-28M | $-40M | $-33M | $-31M | $-30M | $-23M | $-42M | $-40M | $-22M | $-18M | $-16M | $-30M | $-22M | $-21M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $20.0K | |
| Investing Cash Flow | $34M | $30M | $47M | $41M | $15M | $86M | $-3M | $-122M | $125M | $57M | $28M | $-59M | $47M | $24M | $33M | $-487M | |
| Stock Repurchased | · | · | $0 | $11M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $0 | $257.0K | $0 | $-11M | $-14M | $-347.0K | $0 | $117.0K | $0 | $150.0K | $0 | $92.0K | $0 | $165.0K | $0 | $147.0K | |
| Net Change in Cash | $-3M | $-16M | $18M | $-10M | $-32M | $55M | $-34M | $-145M | $82M | $17M | $6M | $-76M | $30M | $-5M | $12M | $-508M |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -10.6% | -12.8% | · | -10.1% | -8.2% | -6.9% | · | -5.7% | -7.1% | -10.6% | · | -5.1% | -4.3% | -5.2% | · | -1.1% | |
| ROE | -11.6% | -14.1% | · | -10.9% | -8.8% | -7.5% | · | -6.0% | -7.5% | -11.2% | · | -5.3% | -4.5% | -5.5% | · | -1.3% | |
| ROIC | -17.2% | -20.6% | · | -14.5% | -11.4% | -9.6% | · | -8.2% | -9.9% | -13.9% | · | -7.1% | -5.9% | -6.8% | · | -1.7% |
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 | 8.1 | 7.9 | · | 16.7 | 19.2 | 19.9 | · | 19.3 | 19.0 | 13.3 | · | 31.9 | 38.4 | 51.2 | · | 43.6 | |
| Quick Ratio | 2.7 | 2.4 | · | 3.8 | 4.4 | 5.5 | · | 3.9 | 9.1 | 3.9 | · | 7.3 | 13.2 | 14.8 | · | 11.6 |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-158M | $-159M | · | $-145M | $-143M | $-169M | · | $-168M | $-165M | $-160M | · | $-105M | $-103M | $-117M | · | $-110M | |
| Market Cap | $373M | $431M | · | $227M | $292M | $256M | · | $283M | $279M | $340M | · | $250M | $312M | $279M | · | $474M | |
| P/E | -2.4 | -2.8 | · | -1.7 | -2.1 | -1.5 | · | -1.7 | -1.7 | -2.1 | · | -2.4 | -3.0 | -2.4 | · | -4.3 | |
| P/B | 1.8 | 1.8 | · | 0.7 | 0.8 | 0.6 | · | 0.6 | 0.6 | 0.7 | · | 0.4 | 0.5 | 0.5 | · | 0.7 | |
| P / Tangible Book | 1.8 | 1.8 | · | 0.7 | 0.8 | 0.6 | · | 0.6 | 0.6 | 0.7 | · | 0.4 | 0.5 | 0.5 | · | 0.7 | |
| P / Cash Flow | · | -9.3 | · | · | · | -8.4 | · | · | · | -8.5 | · | · | · | -9.4 | · | · | |
| Earnings Yield | -41.9% | -36.1% | · | -60.0% | -46.9% | -66.9% | · | -59.7% | -59.5% | -47.5% | · | -42.3% | -33.4% | -42.4% | · | -23.4% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | $351M |
| Operating Margin % | — | — | — | — | 39.4% |
| Net Income | $-158M | $-168M | $-136M | $-116M | $121M |
| Diluted EPS | $-1.94 | $-2.00 | $-1.63 | $-1.39 | $1.37 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 7.8 | 24.9 | 18.2 | 35.8 | 13.6 |
| Quick Ratio | 2.4 | 3.5 | 4.4 | 10.2 | 13.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | — | $-123M | $-87M |
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Institutional owners (13F) 133 filers · $197.6M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 24 (-1 vs prior Q) | 20 (+12 vs prior Q) | 43 (+5 vs prior Q) | 35 (-1 vs prior Q) | +2.9M |
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 |
|---|---|---|---|---|
| BML Capital Management, LLC | $32,328,335 | 6,952,330 | 16.36% | Shares |
| FMR LLC | $25,389,935 | 5,460,201 | 12.85% | Shares |
| TANG CAPITAL MANAGEMENT LLC | $22,388,355 | 4,814,700 | 11.33% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $13,786,608 | 2,964,862 | 6.98% | Shares |
| VANGUARD GROUP INC | $13,377,472 | 3,747,191 | 6.77% | Shares |
| Bain Capital Life Sciences Investors, LLC | $9,651,721 | 2,075,639 | 4.88% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $7,855,649 | 1,688,919 | 3.98% | Shares |
| STATE STREET CORP | $7,683,655 | 1,652,399 | 3.89% | Shares |
| TWO SIGMA INVESTMENTS, LP | $7,006,141 | 1,506,697 | 3.55% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $5,598,935 | 1,204,072 | 2.83% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $5,260,080 | 1,131,200 | 2.66% | Shares |
| Rosalind Advisors, Inc. | $4,978,058 | 1,070,550 | 2.52% | Shares |
| TWO SIGMA ADVISERS, LP | $3,783,129 | 1,059,700 | 1.91% | Shares |
| BlackRock, Inc. | $3,726,687 | 801,438 | 1.89% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,930,360 | 630,185 | 1.48% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,839,323 | 610,607 | 1.44% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,184,575 | 469,801 | 1.11% | Shares |
| GOLDMAN SACHS GROUP INC | $2,077,322 | 446,736 | 1.05% | Shares |
| CM Management, LLC | $1,650,750 | 355,000 | 0.84% | Shares |
| BARCLAYS PLC | $1,615,519 | 347,423 | 0.82% | Shares |
| BANQUE PICTET & CIE SA | $1,604,608 | 345,077 | 0.81% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,416,441 | 304,611 | 0.72% | Shares |
| Quantinno Capital Management LP | $1,126,704 | 242,302 | 0.57% | Shares |
| MORGAN STANLEY | $1,107,760 | 238,228 | 0.56% | Shares |
| Opaleye Management Inc. | $1,092,750 | 235,000 | 0.55% | Shares |
| HSBC HOLDINGS PLC | $1,023,272 | 221,009 | 0.52% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $979,020 | 210,542 | 0.50% | Shares |
| Auour Investments LLC | $823,050 | 177,000 | 0.42% | Shares |
| AMERICAN CENTURY COMPANIES INC | $793,555 | 170,657 | 0.40% | Shares |
| CITADEL ADVISORS LLC | $731,092 | 157,224 | 0.37% | Shares |
| ALLIANCEBERNSTEIN L.P. | $668,304 | 124,220 | 0.34% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $608,685 | 130,900 | 0.31% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $552,220 | 118,757 | 0.28% | Shares |
| STRS OHIO | $547,305 | 117,700 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $423,720 | 91,124 | 0.21% | Shares |
| Aldebaran Capital, LLC | $410,037 | 88,180 | 0.21% | Shares |
| JPMORGAN CHASE & CO | $403,283 | 87,480 | 0.20% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $366,053 | 78,721 | 0.19% | Shares |
| Bank of New York Mellon Corp | $364,895 | 78,472 | 0.18% | Shares |
| D. E. Shaw & Co., Inc. | $347,629 | 74,759 | 0.18% | Shares |
| DEUTSCHE BANK AG\ | $327,360 | 70,400 | 0.17% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $326,000 | 70,000 | 0.16% | Shares |
| BANK OF AMERICA CORP /DE/ | $300,580 | 64,641 | 0.15% | Shares |
| Susquehanna Portfolio Strategies, LLC | $288,639 | 62,073 | 0.15% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $286,938 | 61,707 | 0.15% | Shares |
| WELLS FARGO & COMPANY/MN | $276,164 | 59,390 | 0.14% | Shares |
| Cubist Systematic Strategies, LLC | $254,545 | 87,774 | 0.13% | Shares |
| Rangeley Capital, LLC | $202,275 | 43,500 | 0.10% | Shares |
| MetLife Investment Management, LLC | $183,517 | 39,466 | 0.09% | Shares |
| ALGERT GLOBAL LLC | $179,118 | 38,520 | 0.09% | Shares |
| NANO CAP NEW MILLENNIUM GROWTH FUND L P | $162,750 | 35,000 | 0.08% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $151,860 | 32,658 | 0.08% | Shares |
| CITIGROUP INC | $141,923 | 30,521 | 0.07% | Shares |
| RBF Capital, LLC | $139,500 | 30,000 | 0.07% | Shares |
| Squarepoint Ops LLC | $136,319 | 29,316 | 0.07% | Shares |
| Invesco Ltd. | $131,651 | 28,312 | 0.07% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $129,549 | 27,860 | 0.07% | Shares |
| Vanguard Global Advisers, LLC | $119,417 | 25,681 | 0.06% | Shares |
| JOHNSON INVESTMENT COUNSEL INC | $118,993 | 25,590 | 0.06% | Shares |
| Certified Advisory Corp | $113,925 | 24,500 | 0.06% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $102,347 | 22,010 | 0.05% | Shares |
| SEI INVESTMENTS CO | $88,527 | 19,038 | 0.04% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $82,296 | 17,698 | 0.04% | Shares |
| Police & Firemen's Retirement System of New Jersey | $78,762 | 16,938 | 0.04% | Shares |
| Engineers Gate Manager LP | $78,148 | 16,806 | 0.04% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $77,446 | 16,655 | 0.04% | Shares |
| Headlands Technologies LLC | $77,278 | 16,619 | 0.04% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $76,009 | 16,346 | 0.04% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $75,525 | 16,242 | 0.04% | Shares |
| Spark Investment Management LLC | $75,330 | 16,200 | 0.04% | Shares |
| Graham Capital Management, L.P. | $75,074 | 16,145 | 0.04% | Shares |
| BAILARD, INC. | $74,865 | 16,100 | 0.04% | Shares |
| RFG Advisory, LLC | $69,169 | 14,875 | 0.04% | Shares |
| Trexquant Investment LP | $68,592 | 14,751 | 0.03% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $63,752 | 13,710 | 0.03% | Shares |
| China Universal Asset Management Co., Ltd. | $59,222 | 12,736 | 0.03% | Shares |
| PRUDENTIAL FINANCIAL INC | $56,637 | 12,180 | 0.03% | Shares |
| NEUBERGER BERMAN GROUP LLC | $55,749 | 11,989 | 0.03% | Shares |
| Sunpointe, LLC | $55,535 | 11,943 | 0.03% | Shares |
| ProShare Advisors LLC | $55,367 | 11,907 | 0.03% | Shares |
| BLAIR WILLIAM & CO/IL | $52,661 | 11,325 | 0.03% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $52,080 | 11,200 | 0.03% | Call option |
| NORTHERN TRUST CORP | $51,755 | 11,130 | 0.03% | Shares |
| Cerity Partners LLC | $50,931 | 10,953 | 0.03% | Shares |
| Russell Investments Group, Ltd. | $45,351 | 9,753 | 0.02% | Shares |
| WOLVERINE TRADING, LLC | $43,747 | 14,982 | 0.02% | Shares |
| UBS Group AG | $40,915 | 8,799 | 0.02% | Shares |
| Blue Trust, Inc. | $40,455 | 8,700 | 0.02% | Shares |
| Legal & General Group Plc | $32,931 | 7,082 | 0.02% | Shares |
| Tower Research Capital LLC (TRC) | $28,844 | 6,203 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $27,500 | 5,914 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $20,691 | 3,846 | 0.01% | Shares |
| Arax Advisory Partners | $19,642 | 4,224 | 0.01% | Shares |
| Versant Capital Management, Inc | $19,623 | 4,220 | 0.01% | Shares |
| Mirae Asset Global Investments Co., Ltd. | $16,642 | 3,579 | 0.01% | Shares |
| Smartleaf Asset Management LLC | $15,332 | 3,325 | 0.01% | Shares |
| SIMPLEX TRADING, LLC | $13,638 | 2,933 | 0.01% | Shares |
| PNC Financial Services Group, Inc. | $12,950 | 2,785 | 0.01% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $12,476 | 2,319 | 0.01% | Shares |
| Point72 Asia (Singapore) Pte. Ltd. | $10,443 | 3,601 | 0.01% | Shares |
Company insiders 17 insiders · 6 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jean-Pierre Sommadossi | President, CEO, and Chairman | Feb. 3, 2026 M | 767,830 | 0 | 0 | $0 |
| Andrea Corcoran | Chief Financial Officer, Executive Vice President, Legal and Secretary | March 11, 2026 M | 823,576 | 0 | 0 | $0 |
| Janet Mj Hammond | Chief Development Officer | Jan. 31, 2026 A | 127,665 | 0 | 0 | $0 |
| John Vavricka | Chief Commercial Officer | Jan. 31, 2026 A | 82,594 | 0 | 0 | $0 |
| Maria Arantxa Horga | Chief Medical Officer | Jan. 31, 2026 A | 96,086 | 0 | 0 | $0 |
| Wayne Foster | EVP, Chief Accounting Officer | Jan. 31, 2026 A | 79,329 | 0 | 0 | $0 |
| Berman Howard H. | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Jerome M. Adams | Director | June 18, 2026 A | 92,350 | 0 | 0 | $0 |
| Bruno Lucidi | Director | June 18, 2026 A | 142,350 | 0 | 0 | $0 |
| Polly A. Murphy | Director | June 18, 2026 A | 121,745 | 2 | 0 | $50,874 |
| Bruce Polsky | Director | June 18, 2026 A | 124,806 | 0 | 0 | $0 |
| Barbara Gayle Duncan | Director | June 18, 2026 A | 92,350 | 0 | 0 | $0 |
| Arthur S Kirsch | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Franklin M Berger | Director | June 18, 2026 A | 536,097 | 0 | 0 | $0 |
| Andrew A. F. Hack | Director | Nov. 3, 2020 C | 5,615,659 | 0 | 0 | $0 |
| Isaac Cheng | Director | Oct. 29, 2020 A | — | 0 | 0 | $0 |
| Chung K. Chu | — | Nov. 3, 2020 C | 1,176,862 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| Radoff Family Foundation, Radoff Bradley Louis, JEC II Associates, LLC, The MOS Trust, MOS PTC, LLC, Torok Michael, Berman Howard H., Nerium Partners LP, Nerium Capital LLC, Flynn James P. ×3 filings | April 17, 2025 | 4.00% | Amendment | Board campaign | SEC |
| BML Investment Partners, L.P., Leonard Braden Michael | Dec. 16, 2024 | 8.50% | Initial filing | — | SEC |
| TANG CAPITAL PARTNERS, LP, TANG CAPITAL MANAGEMENT, LLC, KEVIN TANG, Concentra Biosciences, LLC ×2 filings | Nov. 28, 2023 | — | Initial filing | — | SEC |
| Bain Capital Life Sciences Fund II, L.P., BCIP Life Sciences Associates, LP, BCLS II Investco, LP ×3 filings | Sept. 24, 2021 | — | 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 35 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 |
|---|---|---|---|---|
| SBIO · ALPS ETF Trust | 0.24% | 82,125 NS | May 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.23% | 127,806 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.08% | 241,243 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.03% | 4,309 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.03% | 151,732 NS | May 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.02% | 472,207 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 662,851 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 61,782 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.02% | 2,889 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 30,344 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 1,798,217 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 263,930 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 408,133 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 54,465 SH | Aug. 8, 2026 | Daily |
| PKW · Invesco Exchange-Traded Fund Trust | 0.01% | 32,303 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 3,294 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 345,893 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 2,575 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 2,604 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 69,618 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 3,052 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 8,300 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 65 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 181,682 SH | Aug. 8, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 16,361 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 58,155 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 18,537 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 47,410 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 11,053 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 9,202 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 864,902 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,032,268 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 5,932 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 20 NS | April 30, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.00% | 154,338 SH | Aug. 8, 2026 | Daily |