BBIO BridgeBio Pharma, Inc. - Common Stock
$83.26
Price · Aug 20, 2026
Fundamentals as of Aug 10, 2026
52W Range
$47–$93
78% of range
Analyst Rating
BUY
28 analysts
Price Target
$108
+30% upside
P/E (TTM)
-22.1
ROE
41.2%
Net Profit Margin
-146.0%
BBIO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$83.25
Market Cap
$16.29B
P/E (TTM)
-22.1
EPS (TTM)
$-3.78
Revenue (TTM)
$502M
Div Yield
—
ROE
41.2%
Debt/Equity
—
52W Range
$47 – $93
BBIO 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
$502M
2019-12-31
→
2025-12-31
EPS
$-3.78
2020-12-31
→
2025-12-31
Free Cash Flow
$-447M
2019-12-31
→
2025-12-31
Margins
-146.0%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BBIO
Peer Median
P/E (TTM)
-22.1
28.5
P/S (TTM)
32.5
20.1
P/B
-7.8
12.9
Price / FCF
-36.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BBIO
Peer Median
Operating Margin
-104.2%
—
Net Profit Margin
-146.0%
-48.4%
ROA
-79.0%
-28.4%
ROE
41.2%
-49.2%
ROIC
25.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BBIO
Peer Median
Current Ratio
2.8
5.0
Quick Ratio
2.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BBIO
Peer Median
Revenue YoY
126.3%
—
Revenue CAGR 3Y
86.3%
—
Revenue CAGR 5Y
127.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BBIO
Peer Median
BBIO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
28 analysts
- Strong Buy 6 21.4%
- Buy 19 67.9%
- Hold 3 10.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
21 analysts · 2026-08-16
Median
$108.00
Now
$83.25
Low
$80.00
High
$157.00
Median target
$108.00
+29.7%
Mean target
$108.43
+30.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.11%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.78 | $-0.60 | -0.18% |
| March 31, 2026 | $-0.84 | $-0.69 | -0.15% |
| Dec. 31, 2025 | $-1.00 | $-0.76 | -0.24% |
| Sept. 30, 2025 | $-0.95 | $-0.91 | -0.04% |
| June 30, 2025 | $-0.95 | $-0.86 | -0.09% |
| March 31, 2025 | $-0.88 | $-0.94 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BBIO | $14.90B | -20.2 | 126.3% | -146.0% | 41.2% | — |
| ALNY | $52.64B | 170.7 | 65.2% | 8.5% | 60.4% | — |
| INSM | $37.29B | -27.1 | 66.7% | -210.5% | -128.4% | — |
| INCY | $19.60B | 15.4 | 21.2% | 25.0% | 27.6% | — |
| UTHR | $21.27B | 17.5 | 10.6% | 41.9% | 18.7% | 87.9% |
| NBIX | $14.20B | 30.4 | 21.4% | 16.7% | 16.1% | — |
| EXEL | $11.44B | 15.7 | 7.0% | 33.7% | 37.3% | — |
| BMRN | $11.43B | 33.0 | 12.9% | 10.8% | 5.8% | — |
| ARWR | $4.68B | -3449.0 | 23258.2% | -0.20% | -0.50% | — |
| MDGL | $13.30B | -45.3 | 432.1% | -30.1% | -44.4% | — |
| HALO | $7.93B | 26.3 | 37.5% | 22.7% | 166.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $502M | $222M | $9M | $78M | $70M | $8M | $41M | |
| Cost of Revenue | $21M | $4M | $2M | $3M | $3M | · | · | |
| R&D Expense | $452M | $506M | $456M | $399M | $451M | $337M | $210M | |
| SG&A Expense | $531M | $289M | $151M | $143M | $192M | $146M | $94M | |
| Operating Expenses | $1.03B | $815M | $617M | $590M | $646M | $483M | $307M | |
| Operating Income | $-523M | $-593M | $-607M | $-512M | $-577M | $-474M | $-266M | |
| Interest Expense | · | · | $81M | $80M | $47M | $37M | $9M | |
| Interest Income | $20M | $17M | $18M | $8M | $1M | $4M | $9M | |
| Other Non-op | $43M | $12M | $17M | $-8M | $36M | $2M | $-2M | |
| Pretax Income | $-733M | $-542M | $-653M | $-485M | · | $505M | $289M | |
| Income Tax | $435.0K | $1M | $0 | $0 | · | · | · | |
| Net Income | $-733M | $-543M | $-653M | $-485M | $-586M | $-505M | $-289M | |
| EPS (Basic) | $-3.78 | $-2.88 | $-3.95 | $-3.26 | $-3.90 | $-3.80 | · | |
| EPS (Diluted) | $-3.78 | $-2.88 | $-3.95 | $-3.26 | $-3.90 | $-3.80 | · | |
| Shares (Basic) | 191,527,482 | 186,075,873 | 162,791,511 | 147,473,076 | 144,356,619 | 117,995,457 | · | |
| Shares (Diluted) | 191,527,482 | 186,075,873 | 162,791,511 | 147,473,076 | 144,356,619 | 117,995,457 | · | |
| EBITDA | $-518M | $-587M | $-601M | $-505M | $-571M | $-474M | $-266M |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $570M | $681M | $376M | $377M | $394M | $356M | $364M | |
| Short-term Investments | · | $0 | $0 | $52M | $394M | $251M | $182M | |
| Receivables | $139M | $5M | $2M | · | · | · | · | |
| Inventory | $27M | $0 | · | · | · | · | · | |
| Prepaid Expense | $44M | $35M | $24M | $22M | $32M | $36M | $20M | |
| Current Assets | $798M | $721M | $478M | $549M | $889M | $643M | $569M | |
| PP&E (Net) | $5M | $7M | $12M | $15M | $30M | $20M | $6M | |
| Intangibles | $28M | $24M | $26M | $29M | $45M | $0 | · | |
| Other Non-current Assets | $17M | $18M | $23M | $20M | $33M | $24M | $26M | |
| Total Assets | $936M | $919M | $546M | $623M | $1.01B | $704M | $632M | |
| Accounts Payable | $36M | $10M | $11M | $12M | $12M | $9M | $9M | |
| Accrued Liabilities | · | · | · | · | · | · | $3M | |
| Current Liabilities | $288M | $154M | $144M | $121M | $135M | $96M | $60M | |
| Capital Leases | $4M | $5M | $9M | $12M | $17M | $15M | · | |
| Other Non-current Liabilities | $244.0K | $286.0K | $6M | $27M | $22M | $10M | $4M | |
| Total Liabilities | $3.01B | $2.38B | $1.89B | $1.87B | $1.88B | $596M | $156M | |
| Long-term Debt | $2.01B | · | · | · | · | $94M | $95M | |
| Total Debt | · | $437M | $446M | $431M | $431M | $94M | $92M | |
| Common Stock | $202.0K | $196.0K | $181.0K | $157.0K | $154.0K | $125.0K | $124.0K | |
| Paid-in Capital | $2.06B | $1.90B | · | · | · | · | · | |
| Retained Earnings | $-3.82B | $-3.10B | $-2.56B | $-1.92B | $-1.44B | $-889M | $-440M | |
| Treasury Stock | $323M | $275M | $275M | $275M | $275M | $75M | · | |
| AOCI | $12.0K | $8.0K | $31.0K | $-328.0K | $-132.0K | $192.0K | $254.0K | |
| Stockholders' Equity | $-2.09B | $-1.47B | $-1.35B | $-1.25B | $-870M | $58M | $408M | |
| Liabilities + Equity | $936M | $919M | $546M | $623M | $1.01B | $704M | $632M | |
| Shares Outstanding | 194,771,957 | 190,044,473 | 175,082,951 | 150,625,572 | 147,343,323 | 122,849,389 | 123,658,287 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $5M | $6M | $6M | $7M | $6M | $1M | $859.0K | |
| Stock-based Comp | $133M | $96M | $109M | $92M | $100M | $58M | $21M | |
| Deferred Tax | $0 | $0 | $0 | · | · | · | · | |
| Amort. of Intangibles | $3M | $2M | $2M | $2M | $3M | · | · | |
| Restructuring | · | $16M | $8M | $44M | $0 | $0 | · | |
| Other Non-cash | $149M | $-79M | $10M | $-33M | $-17M | · | · | |
| Operating Cash Flow | $-446M | $-521M | $-528M | $-419M | $-498M | $-400M | $-254M | |
| CapEx | $1M | $933.0K | $1M | $5M | $13M | $8M | $3M | |
| Investing Cash Flow | $-24M | $61M | $54M | $453M | $-201M | $-53M | $-217M | |
| Net Debt Issued | · | $-473M | $0 | $-20M | $-124M | · | · | |
| Stock Issued | $0 | $315M | $450M | $5M | $0 | $0 | · | |
| Stock Repurchased | $48M | $0 | $0 | $0 | $200M | $75M | · | |
| Net Stock Activity | $-48M | $315M | $144M | $5M | $-200M | $-75M | · | |
| Dividends Paid | · | · | · | · | · | · | $997.0K | |
| Financing Cash Flow | $359M | $748M | $452M | $-13M | $736M | $447M | $399M | |
| Net Change in Cash | $-111M | $289M | $-22M | $21M | $38M | $-6M | $-72M | |
| Taxes Paid | $1M | $0 | $0 | · | · | · | · | |
| Free Cash Flow | $-447M | $-522M | $-529M | $-424M | $-511M | $-407M | $-256M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -104.2% | -267.2% | -6528.7% | -659.6% | -827.1% | -5752.0% | -656.4% | |
| Net Margin | -146.0% | -244.9% | -7021.9% | -624.2% | -841.2% | -6127.9% | -711.5% | |
| Pretax Margin | -145.9% | -244.3% | · | · | · | 6127.9% | 711.5% | |
| EBITDA Margin | -103.2% | -264.5% | -6458.9% | -650.9% | -818.7% | -5752.0% | -656.4% | |
| ROA | -79.0% | -74.1% | -111.7% | -59.2% | -68.3% | -75.7% | -52.6% | |
| ROE | 41.2% | 38.5% | 50.1% | 45.6% | 144.4% | -216.8% | -101.0% | |
| ROIC | 25.1% | 57.7% | · | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.8 | 4.7 | 3.3 | 4.5 | 6.6 | 6.7 | 9.4 | |
| Quick Ratio | 2.5 | 4.4 | 2.6 | 3.5 | 5.8 | 6.3 | 9.0 | |
| Debt / Equity | · | -0.3 | -0.3 | -0.3 | -0.5 | 1.6 | 0.2 | |
| LT Debt / Equity | · | -0.3 | -0.3 | -0.3 | -0.5 | 1.6 | 0.2 | |
| Interest Coverage | · | · | -7.5 | -6.4 | -12.3 | -12.9 | -30.4 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.3 | 0.0 | 0.1 | 0.1 | 0.0 | 0.1 | |
| Inventory Turnover | 1.6 | · | · | · | · | · | · | |
| Receivables Turnover | 7.0 | 68.6 | · | · | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 126.3% | 2285.3% | -88.0% | 11.4% | 745.1% | · | · | |
| Revenue CAGR 3Y | 86.3% | 47.1% | 4.1% | · | · | · | · | |
| Revenue CAGR 5Y | 127.4% | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $502M | $222M | $9M | $78M | $70M | $8M | $41M | |
| Net Income TTM | $-733M | $-543M | $-653M | $-485M | $-586M | $-505M | $-289M | |
| Market Cap | $14.90B | $5.21B | $7.07B | $1.15B | $2.46B | $8.74B | $4.33B | |
| Enterprise Value | · | $4.97B | $7.14B | $1.15B | $2.10B | $8.22B | $3.88B | |
| P/E | -20.2 | -9.5 | -10.2 | -2.3 | -4.3 | -18.7 | · | |
| P/S | 29.7 | 23.5 | 759.8 | 14.8 | 35.3 | 1059.0 | 106.9 | |
| P/B | -7.1 | -3.6 | -5.2 | -0.9 | -2.8 | 150.9 | 10.6 | |
| P / Tangible Book | · | · | · | · | · | 150.9 | · | |
| P / Cash Flow | -33.4 | -10.0 | -13.4 | -2.7 | -4.9 | -21.9 | -17.1 | |
| P / FCF | -33.3 | -10.0 | -13.4 | -2.7 | -4.8 | -21.5 | -16.9 | |
| EV / EBITDA | · | -8.5 | -11.9 | -2.3 | -3.7 | -17.3 | -14.6 | |
| EV / FCF | · | -9.5 | -13.5 | -2.7 | -4.1 | -20.2 | -15.1 | |
| EV / Revenue | · | 22.4 | 767.3 | 14.8 | 30.1 | 996.8 | 95.7 | |
| Dividend Yield | · | · | · | · | · | · | 0.02% | |
| Earnings Yield | -4.9% | -10.5% | -9.8% | -42.8% | -23.4% | -5.3% | · | |
| Payout Ratio | · | · | · | · | · | · | -0.35% | |
| Annual Payout | · | · | · | · | · | · | $997.0K |
Income Statement 17
| 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 | $244M | $195M | $154M | $121M | $111M | $117M | $6M | $3M | $2M | $211M | $2M | $4M | $2M | $2M | $2M | $338.0K | |
| Cost of Revenue | $15M | $10M | $8M | $7M | $4M | $3M | $2M | $598.0K | $598.0K | $598.0K | $598.0K | $598.0K | $599.0K | $651.0K | $647.0K | $739.0K | |
| R&D Expense | $149M | $127M | $116M | $113M | $111M | $111M | $130M | $120M | $115M | $141M | $130M | $125M | $107M | $93M | $91M | $93M | |
| SG&A Expense | $186M | $164M | $158M | $138M | $129M | $106M | $95M | $69M | $60M | $66M | $48M | $36M | $36M | $31M | $32M | $31M | |
| Operating Expenses | $351M | $300M | $294M | $266M | $245M | $221M | $232M | $194M | $178M | $211M | $179M | $162M | $148M | $128M | $131M | $129M | |
| Operating Income | $-107M | $-106M | $-140M | $-145M | $-134M | $-104M | $-226M | $-192M | $-176M | $343.0K | $-177M | $-158M | $-146M | $-126M | $-129M | $-129M | |
| Interest Expense | · | · | · | · | · | · | · | · | $23M | $23M | · | $20M | $21M | $20M | · | $20M | |
| Interest Income | $7M | $6M | $4M | $6M | $4M | $5M | $5M | $3M | $5M | $4M | $6M | $4M | $5M | $4M | $4M | $2M | |
| Other Non-op | $6M | $4M | $12M | $16M | $7M | $8M | $2M | $2M | $-632.0K | $9M | $22M | $-5M | $1M | $-601.0K | $5M | $6M | |
| Pretax Income | $-156M | · | $-195M | $-186M | $-182M | · | $-266M | $-164M | $-76M | · | · | · | · | · | · | · | |
| Income Tax | $0 | · | $-120.0K | $-2M | $2M | $0 | $1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-156M | $-167M | $-195M | $-185M | $-184M | $-170M | $-267M | $-164M | $-76M | $-36M | $-170M | $-179M | $-161M | $-143M | $-141M | $-140M | |
| EPS (Basic) | $-0.78 | $-0.84 | $-1.00 | $-0.95 | $-0.95 | $-0.88 | $-1.43 | $-0.86 | $-0.39 | $-0.20 | $-0.97 | $-1.08 | $-0.98 | $-0.92 | $-0.91 | $-0.93 | |
| EPS (Diluted) | $-0.78 | $-0.84 | $-1.00 | $-0.95 | $-0.95 | $-0.88 | $-1.43 | $-0.86 | $-0.39 | $-0.20 | $-0.97 | $-1.08 | $-0.98 | $-0.92 | $-0.91 | $-0.93 | |
| Shares (Basic) | 195,785,884 | 194,789,897 | -380,989,138 | 191,854,152 | 190,517,215 | 190,145,253 | -368,726,489 | 188,510,372 | 187,586,680 | 178,705,310 | -313,698,191 | 163,308,632 | 160,535,435 | 152,645,635 | -293,031,694 | 147,937,817 | |
| Shares (Diluted) | 195,785,884 | 194,789,897 | -380,989,138 | 191,854,152 | 190,517,215 | 190,145,253 | -368,726,489 | 188,510,372 | 187,586,680 | 178,705,310 | -313,698,191 | 163,308,632 | 160,535,435 | 152,645,635 | -293,031,694 | 147,937,817 | |
| EBITDA | $-107M | $-105M | · | $-145M | $-134M | $-103M | · | $-192M | $-176M | $2M | · | $-158M | $-146M | $-125M | · | $-129M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $678M | $880M | $570M | $643M | $749M | $541M | $681M | $266M | $408M | $475M | $376M | $505M | $302M | $407M | $377M | $483M | |
| Short-term Investments | · | · | · | · | $8M | · | · | · | $40M | $44M | · | $0 | $31M | $34M | · | $75M | |
| Receivables | $254M | $205M | $139M | $117M | $77M | $115M | $5M | · | · | · | · | · | · | · | · | · | |
| Inventory | $53M | $33M | $27M | $25M | $18M | $4M | $0 | · | · | · | · | · | · | · | · | · | |
| Prepaid Expense | $66M | $63M | $44M | $52M | $60M | $35M | $35M | $38M | $28M | $28M | · | $23M | $21M | $25M | · | $26M | |
| Current Assets | $1.09B | $1.24B | $798M | $839M | $912M | $695M | $721M | $445M | $616M | $783M | · | $588M | $433M | $553M | · | $642M | |
| PP&E (Net) | $5M | $5M | $5M | $6M | $6M | $7M | $7M | $9M | $10M | $11M | · | $12M | $13M | $14M | · | $16M | |
| Intangibles | $27M | $27M | $28M | $29M | $30M | $28M | $24M | $25M | $25M | $26M | · | $27M | $28M | $28M | · | $29M | |
| Other Non-current Assets | $20M | $19M | $17M | $26M | $18M | $17M | $18M | $20M | $19M | $21M | · | $19M | $20M | $21M | · | $30M | |
| Total Assets | $1.22B | $1.37B | $936M | $998M | $1.08B | $882M | $919M | $665M | $794M | $849M | · | $655M | $504M | $626M | · | $729M | |
| Accounts Payable | $27M | $29M | $36M | $19M | $26M | $28M | $10M | $13M | $18M | $5M | · | $4M | $4M | $4M | · | $10M | |
| Current Liabilities | $891M | $816M | $288M | $217M | $176M | $152M | $154M | $139M | $134M | $141M | · | $106M | $110M | $97M | · | $119M | |
| Capital Leases | $15M | $14M | $4M | $3M | $4M | $5M | $5M | $6M | $7M | $8M | · | $10M | $11M | $12M | · | $13M | |
| Other Non-current Liabilities | $240.0K | $229.0K | $244.0K | $679.0K | $545.0K | $352.0K | $286.0K | $377.0K | $485.0K | $595.0K | · | $12M | $13M | $18M | · | $28M | |
| Total Liabilities | $3.72B | $3.64B | $3.01B | $2.92B | $2.86B | $2.52B | $2.38B | $1.88B | $1.88B | $1.89B | · | $1.85B | $1.85B | $1.84B | · | $1.86B | |
| Long-term Debt | $2.65B | $2.65B | $2.01B | $2.01B | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | · | · | · | · | $0 | $0 | · | $436M | $435M | $435M | · | $442M | $440M | $436M | · | · | |
| Common Stock | $206.0K | $204.0K | $202.0K | $200.0K | $198.0K | $197.0K | $196.0K | $195.0K | $194.0K | $193.0K | · | $180.0K | $168.0K | $167.0K | · | $156.0K | |
| Paid-in Capital | $2.16B | $2.11B | $2.06B | $2.02B | · | · | $1.90B | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-4.14B | $-3.99B | $-3.82B | $-3.63B | $-3.45B | $-3.26B | $-3.10B | $-2.83B | $-2.67B | $-2.60B | · | $-2.39B | $-2.22B | $-2.06B | · | $-1.78B | |
| Treasury Stock | $533M | $406M | $323M | $323M | $323M | $323M | $275M | $275M | $275M | $275M | · | $275M | $275M | $275M | · | $275M | |
| AOCI | $-7.0K | $-8.0K | $12.0K | $2.0K | $1.0K | $0 | $8.0K | $5.0K | $-4.0K | $2.0K | · | $34.0K | $63.0K | $-12.0K | · | $-348.0K | |
| Stockholders' Equity | $-2.52B | $-2.28B | $-2.09B | $-1.93B | $-1.79B | $-1.65B | $-1.47B | $-1.23B | $-1.09B | $-1.05B | · | $-1.21B | $-1.36B | $-1.23B | · | $-1.14B | |
| Liabilities + Equity | $1.22B | $1.37B | $936M | $998M | $1.08B | $882M | $919M | $665M | $794M | $849M | · | $655M | $504M | $626M | · | $729M | |
| Shares Outstanding | 195,284,352 | 195,707,702 | 194,771,957 | 192,633,286 | 191,162,659 | 189,826,023 | 190,044,473 | 188,986,547 | 188,032,738 | 187,122,744 | 175,082,951 | 174,131,954 | 161,419,931 | 160,435,238 | · | 149,367,087 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Stock-based Comp | $44M | $33M | $35M | $35M | $37M | $26M | $30M | $27M | $21M | $17M | $37M | $23M | $27M | $22M | $22M | $17M | |
| Amort. of Intangibles | $700.0K | $700.0K | $700.0K | $700.0K | $700.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $300.0K | $600.0K | |
| Restructuring | · | · | · | · | · | · | · | $5M | $3M | $3M | · | $272.0K | $4M | $3M | $8M | $5M | |
| Other Non-cash | · | $-65M | · | · | · | $-57M | · | · | · | $-202M | · | · | · | $-25M | · | · | |
| Operating Cash Flow | $-71M | $-197M | $-56M | $-110M | $-81M | $-199M | $-195M | $-181M | $75M | $-220M | $-125M | $-145M | $-113M | $-144M | $-93M | $-135M | |
| CapEx | $443.0K | $69.0K | $33.0K | $470.0K | $594.0K | $0 | $47.0K | $137.0K | $54.0K | $695.0K | $435.0K | $431.0K | $428.0K | $12.0K | $801.0K | $759.0K | |
| Investing Cash Flow | $18M | $-43M | $-14M | $4M | $-13M | $-2M | $-3M | $38M | $3M | $23M | $-66.0K | $38M | $4M | $12M | $18M | $147M | |
| Debt Issued | · | · | · | · | · | · | · | $0 | $0 | $450M | · | $0 | $0 | $0 | · | · | |
| Net Debt Issued | · | · | · | · | · | $-459M | · | · | · | $-23M | · | · | · | · | · | · | |
| Stock Issued | · | · | $0 | $0 | $0 | $0 | $0 | $-18.0K | $-495.0K | $315M | $-454.0K | $306M | $1M | $143M | $5M | $0 | |
| Stock Repurchased | $128M | $82M | $0 | $0 | $0 | $48M | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | · | $-82M | · | · | · | $-48M | · | · | · | $315M | · | · | · | $143M | · | · | |
| Financing Cash Flow | $-149M | $550M | $-2M | $-894.0K | $302M | $60M | $474M | $707.0K | $-6M | $280M | $-5M | $307M | $-1M | $150M | $6M | $1M | |
| Net Change in Cash | $-202M | $310M | $-73M | $-106M | $208M | $-141M | $275M | $-142M | $72M | $83M | $-129M | $199M | $-110M | $18M | $-69M | $13M | |
| Free Cash Flow | · | $-197M | · | · | · | $-199M | · | · | · | $-220M | · | · | · | $-144M | · | · |
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 | -43.9% | -54.5% | · | -120.3% | -121.4% | -89.5% | · | -7018.7% | -8096.8% | 0.16% | · | -3854.6% | -8903.1% | -6909.3% | · | -38200.0% | |
| Net Margin | -64.0% | -85.6% | · | -153.2% | -166.2% | -145.4% | · | -6012.2% | -3484.5% | -17.1% | · | -4387.4% | -9793.0% | -7816.6% | · | -41477.2% | |
| Pretax Margin | -64.0% | · | · | -154.5% | -164.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EBITDA Margin | -43.9% | -53.9% | · | -120.3% | -121.4% | -88.4% | · | -7018.7% | -8096.8% | 0.92% | · | -3854.6% | -8903.1% | -6819.8% | · | -38200.0% | |
| ROA | -13.6% | -14.8% | · | -22.2% | -19.6% | -19.6% | · | -24.9% | -11.6% | -4.9% | · | -25.9% | -23.5% | -19.8% | · | -18.6% | |
| ROE | 7.2% | 8.5% | · | 11.7% | 12.8% | 12.6% | · | 13.5% | 6.2% | 3.2% | · | 15.3% | 13.5% | 12.6% | · | 14.9% | |
| ROIC | 4.3% | · | · | 7.4% | 7.6% | · | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency 5
| 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 | 1.2 | 1.5 | · | 3.9 | 5.2 | 4.6 | · | 3.2 | 4.6 | 5.5 | · | 5.5 | 3.9 | 5.7 | · | 5.4 | |
| Quick Ratio | 1.0 | 1.3 | · | 3.5 | 4.7 | 4.3 | · | 1.9 | 3.3 | 3.7 | · | 4.8 | 3.0 | 4.6 | · | 4.7 | |
| Debt / Equity | · | · | · | · | 0.0 | 0.0 | · | -0.4 | -0.4 | -0.4 | · | -0.4 | -0.3 | -0.4 | · | · | |
| LT Debt / Equity | · | · | · | · | 0.0 | 0.0 | · | -0.4 | -0.4 | -0.4 | · | -0.4 | -0.3 | -0.4 | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | -7.7 | 0.0 | · | -7.8 | -7.1 | -6.3 | · | -6.5 |
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 | 0.2 | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.3 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Inventory Turnover | 0.4 | 0.5 | · | 0.5 | 0.4 | 1.3 | · | · | · | · | · | · | · | · | · | · | |
| Receivables Turnover | 1.5 | 1.2 | · | 2.1 | 2.8 | 2.0 | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $669M | $542M | · | $351M | $232M | $333M | · | $220M | $219M | $219M | · | $8M | $78M | $78M | · | $78M | |
| Net Income TTM | $-691M | $-705M | · | $-703M | $-593M | $-446M | · | $-455M | $-452M | $-519M | · | $-623M | $-446M | $-487M | · | $-505M | |
| Market Cap | $14.54B | $14.53B | · | $10.01B | $8.25B | $6.56B | · | $4.81B | $4.76B | $5.79B | · | $4.59B | $2.78B | $2.66B | · | $1.48B | |
| Enterprise Value | · | · | · | · | $7.50B | $6.02B | · | $4.98B | $4.75B | $5.70B | · | $4.53B | $2.88B | $2.65B | · | · | |
| P/E | -21.2 | -20.5 | · | -14.3 | -14.0 | -14.8 | · | -10.1 | -9.6 | -9.7 | · | -6.7 | -5.9 | -5.1 | · | -2.9 | |
| P/S | 21.7 | 26.8 | · | 28.5 | 35.6 | 19.7 | · | 21.9 | 21.7 | 26.5 | · | 581.5 | 35.8 | 34.3 | · | 19.0 | |
| P/B | -5.8 | -6.4 | · | -5.2 | -4.6 | -4.0 | · | -3.9 | -4.4 | -5.5 | · | -3.8 | -2.0 | -2.2 | · | -1.3 | |
| P / Cash Flow | · | -73.7 | · | · | · | -32.9 | · | · | · | -26.4 | · | · | · | -18.4 | · | · | |
| P / FCF | · | -73.6 | · | · | · | -32.9 | · | · | · | -26.3 | · | · | · | -18.4 | · | · | |
| EV / EBITDA | · | · | · | · | -55.8 | -58.4 | · | -26.0 | -27.1 | 2940.1 | · | -28.7 | -19.7 | -21.3 | · | · | |
| EV / FCF | · | · | · | · | · | -30.2 | · | · | · | -25.9 | · | · | · | -18.4 | · | · | |
| EV / Revenue | · | · | · | · | 32.3 | 18.1 | · | 22.6 | 21.7 | 26.1 | · | 573.5 | 37.2 | 34.2 | · | · | |
| Earnings Yield | -4.7% | -4.9% | · | -7.0% | -7.1% | -6.7% | · | -9.9% | -10.5% | -10.3% | · | -14.8% | -16.9% | -19.7% | · | -34.3% |
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 | $502M | $222M | $9M | $78M | $70M |
| Operating Margin % | -104.2% | -267.2% | -6528.7% | -659.6% | -827.1% |
| Net Income | $-733M | $-543M | $-653M | $-485M | $-586M |
| Diluted EPS | $-3.78 | $-2.88 | $-3.95 | $-3.26 | $-3.90 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | -0.3 | -0.3 | -0.3 | -0.5 |
| Current Ratio | 2.8 | 4.7 | 3.3 | 4.5 | 6.6 |
| Quick Ratio | 2.5 | 4.4 | 2.6 | 3.5 | 5.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-447M | $-522M | $-529M | $-424M | $-511M |
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Institutional owners (13F) 533 filers · $11.5B 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 |
|---|---|---|---|---|
| 92 (-9 vs prior Q) | 65 (+8 vs prior Q) | 178 (+2 vs prior Q) | 164 (+17 vs prior Q) | +15.1M |
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 |
|---|---|---|---|---|
| Kohlberg Kravis Roberts & Co. L.P. | $987,677,120 | 13,260,971 | 8.61% | Shares |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | $800,143,332 | 10,743,063 | 6.97% | Shares |
| VIKING GLOBAL INVESTORS LP | $741,017,831 | 9,949,219 | 6.46% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $588,315,509 | 7,898,973 | 5.13% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $570,272,655 | 7,656,722 | 4.97% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $360,280,689 | 4,837,281 | 3.14% | Shares |
| TWO SIGMA INVESTMENTS, LP | $351,708,339 | 4,722,185 | 3.06% | Shares |
| Aisling Capital Management LP | $341,834,227 | 4,589,611 | 2.98% | Shares |
| STATE STREET CORP | $330,388,215 | 4,435,932 | 2.88% | Shares |
| UBS Group AG | $287,753,480 | 3,863,500 | 2.51% | Call option |
| JANE STREET GROUP, LLC | $232,407,392 | 3,120,400 | 2.02% | Call option |
| CITADEL ADVISORS LLC | $231,388,431 | 3,106,719 | 2.02% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $221,507,973 | 2,973,184 | 1.93% | Shares |
| D. E. Shaw & Co., Inc. | $218,406,046 | 2,932,412 | 1.90% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $195,152,496 | 2,620,200 | 1.70% | Call option |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $167,728,960 | 2,252,000 | 1.46% | Shares |
| Polar Capital Holdings Plc | $153,697,598 | 2,063,609 | 1.34% | Shares |
| FMR LLC | $152,985,495 | 2,054,048 | 1.33% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $145,662,994 | 1,955,733 | 1.27% | Shares |
| SC US (TTGP), LTD. | $138,559,911 | 1,860,364 | 1.21% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $127,311,718 | 1,709,341 | 1.11% | Shares |
| NORGES BANK | $126,152,213 | 1,693,773 | 1.10% | Shares |
| Frazier Life Sciences Management, L.P. | $115,305,393 | 1,548,139 | 1.00% | Shares |
| Point72 Asset Management, L.P. | $113,640,243 | 1,525,782 | 0.99% | Shares |
| JANE STREET GROUP, LLC | $112,904,828 | 1,515,908 | 0.98% | Shares |
| ALLIANCEBERNSTEIN L.P. | $107,937,207 | 1,453,504 | 0.94% | Shares |
| Pictet Asset Management Holding SA | $107,362,071 | 1,448,126 | 0.94% | Shares |
| TWO SIGMA ADVISERS, LP | $107,165,167 | 1,401,035 | 0.93% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $102,265,291 | 1,373,057 | 0.89% | Shares |
| Laurion Capital Management LP | $100,714,388 | 1,352,234 | 0.88% | Shares |
| Hood River Capital Management LLC | $100,364,407 | 1,347,535 | 0.87% | Shares |
| Balyasny Asset Management L.P. | $91,614,273 | 1,230,052 | 0.80% | Shares |
| Squarepoint Ops LLC | $88,760,199 | 1,191,732 | 0.77% | Shares |
| VANGUARD GROUP INC | $88,444,087 | 1,156,283 | 0.77% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $86,057,320 | 1,155,442 | 0.75% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $83,193,341 | 1,116,989 | 0.72% | Shares |
| AMERIPRISE FINANCIAL INC | $82,434,273 | 1,106,795 | 0.72% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $75,670,190 | 1,015,980 | 0.66% | Shares |
| FIL Ltd | $74,648,325 | 1,002,260 | 0.65% | Shares |
| Clearbridge Investments, LLC | $73,966,324 | 993,103 | 0.64% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $73,400,040 | 985,500 | 0.64% | Put option |
| GOLDMAN SACHS GROUP INC | $66,118,056 | 887,729 | 0.58% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $63,817,890 | 856,846 | 0.56% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $61,804,000 | 829,802 | 0.54% | Shares |
| Ensign Peak Advisors, Inc | $56,677,567 | 760,977 | 0.49% | Shares |
| Qube Research & Technologies Ltd | $54,162,228 | 727,205 | 0.47% | Shares |
| Capital Research Global Investors | $52,143,969 | 700,107 | 0.45% | Shares |
| BARCLAYS PLC | $51,071,756 | 685,711 | 0.44% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $48,652,124 | 653,224 | 0.42% | Shares |
| First Turn Management, LLC | $47,172,951 | 633,364 | 0.41% | Shares |
| AMERICAN CENTURY COMPANIES INC | $46,288,968 | 621,494 | 0.40% | Shares |
| SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC | $46,261,390 | 621,125 | 0.40% | Shares |
| BANK OF AMERICA CORP /DE/ | $41,878,465 | 562,278 | 0.36% | Shares |
| Cormorant Asset Management, LP | $40,964,000 | 550,000 | 0.36% | Shares |
| GILDER GAGNON HOWE & CO LLC | $40,884,008 | 548,926 | 0.36% | Shares |
| MILLENNIUM MANAGEMENT LLC | $36,316,001 | 487,594 | 0.32% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $35,176,457 | 472,294 | 0.31% | Shares |
| NEUBERGER BERMAN GROUP LLC | $34,092,848 | 457,745 | 0.30% | Shares |
| Catalio Capital Management, LP | $33,891,454 | 455,041 | 0.30% | Shares |
| Bridgewater Associates, LP | $33,377,691 | 448,143 | 0.29% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $32,557,442 | 437,130 | 0.28% | Shares |
| Fisher Asset Management, LLC | $25,721,741 | 345,351 | 0.22% | Shares |
| UBS Group AG | $25,687,705 | 344,894 | 0.22% | Shares |
| BOONE CAPITAL MANAGEMENT LLC | $25,302,346 | 339,720 | 0.22% | Shares |
| NOMURA HOLDINGS INC | $24,390,338 | 327,475 | 0.21% | Shares |
| Weiss Asset Management LP | $23,847,304 | 320,184 | 0.21% | Shares |
| Nicholas Investment Partners, LP | $23,200,073 | 311,494 | 0.20% | Shares |
| Woodline Partners LP | $22,441,718 | 301,312 | 0.20% | Shares |
| Candriam S.C.A. | $22,361,195 | 300,520 | 0.19% | Shares |
| MACKENZIE FINANCIAL CORP | $22,227,811 | 298,440 | 0.19% | Shares |
| Swiss National Bank | $21,941,808 | 294,600 | 0.19% | Shares |
| CITADEL ADVISORS LLC | $21,278,936 | 285,700 | 0.19% | Call option |
| CITADEL ADVISORS LLC | $20,943,776 | 281,200 | 0.18% | Put option |
| Integral Health Asset Management, LLC | $20,482,000 | 275,000 | 0.18% | Shares |
| NOMURA HOLDINGS INC | $19,811,680 | 266,000 | 0.17% | Call option |
| PFM Health Sciences, LP | $18,870,104 | 253,358 | 0.16% | Shares |
| FIRST TRUST ADVISORS LP | $18,451,526 | 247,738 | 0.16% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $18,273,370 | 245,346 | 0.16% | Shares |
| MARSHALL WACE, LLP | $17,913,781 | 240,518 | 0.16% | Shares |
| Caption Management, LLC | $17,726,240 | 238,000 | 0.15% | Call option |
| Susquehanna Portfolio Strategies, LLC | $16,897,203 | 226,869 | 0.15% | Shares |
| ExodusPoint Capital Management, LP | $16,752,563 | 224,927 | 0.15% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $16,565,618 | 222,417 | 0.14% | Shares |
| NAN FUNG TRINITY (HK) LTD | $16,327,133 | 219,215 | 0.14% | Shares |
| ROYCE & ASSOCIATES LP | $16,272,912 | 218,487 | 0.14% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $15,553,137 | 208,823 | 0.14% | Shares |
| ALGERT GLOBAL LLC | $15,305,417 | 205,497 | 0.13% | Shares |
| CITIGROUP INC | $14,598,080 | 196,000 | 0.13% | Put option |
| California Public Employees Retirement System | $14,514,067 | 194,872 | 0.13% | Shares |
| Longaeva Partners L.P. | $13,992,036 | 187,863 | 0.12% | Shares |
| MIZUHO MARKETS AMERICAS LLC | $13,585,748 | 182,408 | 0.12% | Shares |
| MILLENNIUM MANAGEMENT LLC | $13,570,256 | 182,200 | 0.12% | Call option |
| Cutter Capital Management, LP | $13,504,563 | 390,644 | 0.12% | Shares |
| ADAR1 Capital Management, LLC | $13,159,797 | 176,689 | 0.11% | Shares |
| BlackRock, Inc. | $12,997,803 | 174,514 | 0.11% | Shares |
| RHUMBLINE ADVISERS | $12,750,043 | 171,188 | 0.11% | Shares |
| ROYAL BANK OF CANADA | $12,654,000 | 169,892 | 0.11% | Shares |
| Hillsdale Investment Management Inc. | $12,595,462 | 169,112 | 0.11% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $12,305,105 | 165,703 | 0.11% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $11,891,227 | 165,133 | 0.10% | Shares |
Company insiders 25 insiders · 9 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Neil Kumar | Chief Executive Officer | Aug. 16, 2026 M | 278,307 | 0 | 4 | $-1,573,882 |
| Thomas Trimarchi | President and CFO | Aug. 16, 2026 F | 336,529 | 0 | 1 | $-2,089,887 |
| Brian C Stephenson | CFO and Treasurer | Feb. 25, 2025 M | 102,464 | 0 | 0 | $0 |
| Brian M. Stolz | Chief Operating Officer | Aug. 16, 2020 M | 24,615 | 0 | 0 | $0 |
| Maricel Apuli | Chief Accounting Officer | Aug. 16, 2026 F | 122,687 | 0 | 1 | $-160,120 |
| Cameron Turtle | Senior Vice President, Portfolio Management and Corporate Development | Dec. 28, 2020 M | 12,568 | 0 | 0 | $0 |
| Michael Thomas Henderson | Chief Business Officer | Dec. 15, 2020 A | 274,211 | 0 | 0 | $0 |
| Uma Sinha | Chief Scientific Officer | Dec. 15, 2020 A | 16,460 | 0 | 0 | $0 |
| Yi Ching Yau | Chief Accounting Officer | Nov. 16, 2020 M | 4,586 | 0 | 0 | $0 |
| Andrea Ellis | Director | July 9, 2026 M | 22,579 | 0 | 1 | $-1,442,028 |
| Jennifer E. Cook | Director | July 9, 2026 M | 8,383 | 0 | 6 | $-21,920,848 |
| Hannah Valantine | Director | June 22, 2026 M | 9,259 | 0 | 2 | $-341,524 |
| Andrew Lo | Director | June 22, 2026 A | 18,079 | 0 | 0 | $0 |
| Douglas A. Dachille | Director | June 22, 2026 A | 10,579 | 0 | 0 | $0 |
| Ali J. Satvat | Director | June 22, 2026 A | 169,983 | 0 | 0 | $0 |
| Eric Aguiar | Director | June 22, 2026 A | 10,579 | 0 | 0 | $0 |
| Frank Mccormick | Director | June 22, 2026 A | 10,579 | 0 | 1 | $-3,933,840 |
| James C Momtazee | Director | June 22, 2026 A | 19,070 | 0 | 0 | $0 |
| Charles J Homcy | Director | June 22, 2026 A | 919,876 | 0 | 0 | $0 |
| DANIELS RONALD J | Director | June 22, 2026 A | 20,981 | 0 | 0 | $0 |
| Fred Hassan | Director | June 22, 2026 A | 29,879 | 0 | 0 | $0 |
| Randal W Scott | Director | June 20, 2025 A | 11,589 | 0 | 0 | $0 |
| Richard H Scheller | Director | Feb. 16, 2023 M | 53,822 | 0 | 0 | $0 |
| Brent L Saunders | Director | June 22, 2022 A | 17,600 | 0 | 0 | $0 |
| BridgeBio Pharma, Inc. | 10% owner | Jan. 26, 2021 P | 1,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 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 |
|---|---|---|---|---|---|
| KKR Genetic Disorder L.P., KKR Genetic Disorder GP LLC, KKR Group Partnership L.P., KKR Group Holdings Corp., KKR Group Co. Inc., KKR & Co. Inc., KKR Management LLP, Henry R. Kravis, George R. Roberts ×8 filings | Aug. 17, 2026 | 4.70% | Amendment | Capital structure | SEC |
| VIKING GLOBAL INVESTORS LP, Viking Global Opportunities Parent GP LLC, Viking Global Opportunities GP LLC, Viking Global Opportunities Portfolio GP LLC, Viking Global Opportunities Illiquid Investments Sub-Master LP, HALVORSEN OLE ANDREAS, Shabet Rose Sharon ×13 filings | July 10, 2026 | 5.00% | Amendment | — | SEC |
| BridgeBio Pharma, Inc. ×6 filings | Jan. 26, 2021 | — | Initial filing | M&A / sale | SEC |
| Eidos Therapeutics, Inc. ×2 filings | Jan. 26, 2021 | — | Initial filing | — | SEC |
| BridgeBio Pharma LLC ×4 filings | Dec. 13, 2018 | — | 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 79 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 |
|---|---|---|---|---|
| CANC · Tema ETF Trust | 2.75% | 73,191 NS | May 31, 2026 | N-PORT |
| HRTS · Tema ETF Trust | 2.59% | 20,327 NS | May 31, 2026 | N-PORT |
| BBP · ETFis Series Trust I | 1.51% | 12,592 NS | April 30, 2026 | N-PORT |
| SPIT · RBB Fund, Inc. | 1.37% | 5,527 NS | April 30, 2026 | N-PORT |
| LFSC · RBB Fund, Inc. | 1.17% | 18,534 NS | May 31, 2026 | N-PORT |
| JSML · Janus Detroit Street Trust | 1.11% | 49,222 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 1.08% | 10,839 SH | Aug. 19, 2026 | Daily |
| JSMD · Janus Detroit Street Trust | 1.06% | 145,924 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 1.02% | 1,255,326 SH | Aug. 19, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.93% | 68,003 NS | April 30, 2026 | N-PORT |
| ILDR · First Trust Exchange-Traded Fund VI… | 0.82% | 35,282 NS | May 31, 2026 | N-PORT |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 0.79% | 113,569 SH | Aug. 19, 2026 | Daily |
| GSC · Goldman Sachs ETF Trust | 0.73% | 27,974 NS | May 31, 2026 | N-PORT |
| GDOC · Goldman Sachs ETF Trust | 0.73% | 2,214 NS | May 31, 2026 | N-PORT |
| BIB · ProShares Trust | 0.64% | 7,167 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.62% | 3,028 NS | May 31, 2026 | N-PORT |
| PSC · Principal Exchange-Traded Funds | 0.60% | 188,692 NS | June 30, 2026 | N-PORT |
| FDMO · FIDELITY COVINGTON TRUST | 0.58% | 69,186 NS | April 30, 2026 | N-PORT |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.51% | 36,933 NS | April 30, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.49% | 20,355 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.42% | 51,606 SH | Aug. 19, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.41% | 18,338 NS | April 30, 2026 | N-PORT |
| IWP · iShares Trust | 0.37% | 920,835 SH | Aug. 19, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.36% | 2,334,646 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.34% | 68,833 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.26% | 7,470 NS | May 31, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.26% | 49,007 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.24% | 815,199 NS | May 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.23% | 20,342 NS | April 30, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.23% | 77,319 NS | April 30, 2026 | N-PORT |
| IYH · iShares Trust | 0.22% | 99,476 SH | Aug. 19, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | 0.21% | 68,022 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.21% | 7,345 SH | Aug. 19, 2026 | Daily |
| SCHM · SCHWAB STRATEGIC TRUST | 0.21% | 459,045 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 56,781 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.19% | 28,343 NS | May 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.19% | 50,525 SH | Aug. 19, 2026 | Daily |
| SMMD · iShares Trust | 0.19% | 85,790 SH | Aug. 19, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.17% | 66,688 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.16% | 57,496 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.16% | 4,042,835 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.16% | 441,129 SH | Aug. 19, 2026 | Daily |
| UWM · ProShares Trust | 0.16% | 5,841 NS | May 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.15% | 10,157 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.14% | 1,977,374 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.13% | 46,235 SH | Aug. 19, 2026 | Daily |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.12% | 179 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.11% | 5,909 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.11% | 9,054 SH | Aug. 19, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.11% | 11,025 SH | Aug. 19, 2026 | Daily |