BCRX BioCryst Pharmaceuticals, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$8.17
· of 52w range
· above low
· to high
$6.0052w low
$11.2252w high
Market Cap (MRQ)
$2.09B
P/E (TTM)
-5.5
EPS (TTM)
$-1.49
Revenue (TTM)
$941M
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52W Range
$6–$11
Analyst Rating
BUY
Price Target
$21
P/E
-5.5
ROE
87.8%
Net Profit Margin
-40.9%
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BCRX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$8.17
Market Cap (MRQ)
$2.09B
P/E (TTM)
-5.5
EPS (TTM)
$-1.49
Revenue (TTM)
$941M
ROE (TTM)
87.8%
Debt/Equity (MRQ)
-0.9
52W Range
$6–$11
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About BioCryst Pharmaceuticals, Inc. - Common Stock Company overview from Wikipedia
BioCryst Pharmaceuticals, Inc. is an American pharmaceutical company headquartered in Durham, North Carolina. The company is a commercial stage biotech company that focuses on developing and commercializing medicines for hereditary angioedema (HAE) and other rare diseases. BioCryst's antiviral drug peramivir (Rapivab) was approved by the FDA in December 2014 and berotralstat (ORLADEYO) was approved in December 2020.
History
The company was founded in 1986 by Charles E. Bugg and John A. Montgomery. In March 1994, BioCryst became a public company when it completed an initial public offering by listing its shares on the NASDAQ stock exchange. In 2008, the company was named one of the fastest growing companies by Deloitte & Touche in its 2008 list of Technology Fast 500.
In October 2010, BioCryst announced its headquarters would move to Durham, North Carolina, where the company has had an office since 2006. In January 2018, BioCryst signed a definitive merger agreement with Idera Pharmaceuticals, with plans for the combined company to change its name and move to Pennsylvania. However, BioCryst shareholders voted down the merger in July.
Pipeline
BioCryst’s core development programs include:
Berotralstat (BCX7353), an oral inhibitor of plasma kallikrein for prevention and treatment of hereditary angioedema (HAE).
FDA has approved Expanded Access Program for berotralstat for eligible patients in the United States.
Berotralstat has a PDUFA date for FDA approval on December 3, 2020.
On December 3, 2020, the FDA approved berotralstat as the first oral hereditary angioedema prophylaxis.
BCX9930, an oral Factor D inhibitor for the treatment of complement-mediated diseases.
FDA has granted Fast Track designation for BCX9930, for the treatment of paroxysmal nocturnal hemoglobinuria (PNH).
BCX9250, an oral ALK-2 inhibitor for treatment of fibrodysplasia ossificans progressiva (FOP).
Galidesivir (BCX4430) is a broad-spectrum antiviral in advanced development for the treatment of viruses including SARS-CoV-2 (the cause of COVID-19), Ebola, Marburg, Yellow Fever and Zika.
Galidesivir was safe and generally well tolerated in Phase 1 clinical safety and pharmacokinetics trials conducted in 2019 by both intravenous and intramuscular routes of administration in healthy human subjects.
In animal studies, galidesivir has demonstrated survival benefits against a variety of serious pathogens, including Ebola, Marburg, Yellow Fever and Zika viruses.
BioCryst is developing galidesivir in collaboration with U.S. government agencies and other institutions.
In September 2013, NIAID contracted with BioCryst for the development of galidesivir as a treatment for Marburg virus disease and potentially for other filoviruses, including Ebola virus.
In March 2015, BioCryst announced that the Biomedical Advanced Research and Development Authority (BARDA) within the U.S. Department of Health & Human Services’ Office of the Assistant Secretary for Preparedness and Response (ASPR) has awarded BioCryst a contract for the continued development of galidesivir as a potential treatment for diseases caused by RNA pathogens, including filoviruses.
In April 2020, BioCryst began enrollment of a randomized, double-blind, placebo-controlled clinical trial to assess the safety, clinical impact and antiviral effects of galidesivir in patients with COVID-19. This clinical trial is (NCT03891420) is being funded by the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health. The company later made the decision to cease conducting further trials.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorHealthcare
industryBiotechnology
employees435
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$875M2016-12-31 → 2025-12-31
EPS$1.212020-12-31 → 2025-12-31
Free Cash Flow$345M2016-12-31 → 2025-12-31
Net margin-40.9%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | BCRX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -5.55Y avg ≈-7.6 | ≈-7.6 | · | · | |
| P/S (TTM) | 2.25Y avg ≈6.7 | ≈6.7 | 29.2 | Undervalued | |
| P/B (MRQ) | -4.65Y avg ≈-10.2 | ≈-10.2 | · | · | |
| EV / EBITDA | 5.35Y avg ≈-281.5 | ≈-281.5 | · | · | |
| Price / FCF (TTM) | 5.65Y avg ≈-13.6 | ≈-13.6 | · | · | |
| Price / Cash Flow (TTM) | 5.55Y avg ≈-13.9 | ≈-13.9 | · | · | |
| EV / Revenue (TTM) | 2.35Y avg ≈6.3 | ≈6.3 | · | · | |
| EV / FCF (TTM) | 5.75Y avg ≈-14.4 | ≈-14.4 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | BCRX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -33.3%5Y avg ≈-32.2% | ≈-32.2% | -1041.7% | Top tier | |
| EBITDA Margin | 39.1%5Y avg ≈-31.8% | ≈-31.8% | -1041.7% | Top tier | |
| Pretax Margin (TTM) | -40.5%5Y avg ≈-52.6% | ≈-52.6% | -493.4% | Top tier | |
| Net Profit Margin (TTM) | -40.9%5Y avg ≈-53.3% | ≈-53.3% | -990.1% | Top tier | |
| ROA (TTM) | -75.8%5Y avg ≈-18.2% | ≈-18.2% | -40.3% | Top tier | |
| ROE (TTM) | 87.8%5Y avg ≈42.1% | ≈42.1% | -55.6% | Weak | |
| ROIC | -282.4%5Y avg ≈-118.5% | ≈-118.5% | -55.2% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | BCRX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | -0.95Y avg ≈-0.7 | ≈-0.7 | 0.0 | Low debt | |
| Current Ratio (MRQ) | 2.35Y avg ≈3.7 | ≈3.7 | 6.7 | Low liquidity | |
| Quick Ratio (MRQ) | 2.25Y avg ≈2.5 | ≈2.5 | 4.5 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | -0.95Y avg ≈-0.7 | ≈-0.7 | 0.2 | Low debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | BCRX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 94.1%5Y avg ≈201.4% | ≈201.4% | · | · | |
| Revenue CAGR 3Y | 47.8%5Y avg ≈85.0% | ≈85.0% | · | · | |
| Revenue CAGR 5Y | 117.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | BCRX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 1.75Y avg ≈0.8 | ≈0.8 | 0.1 | Top tier | |
| Inventory Turnover | 2.85Y avg ≈0.9 | ≈0.9 | · | · | |
| Receivables Turnover | 9.45Y avg ≈7.4 | ≈7.4 | · | · | |
| Revenue / Employee | ≈$2.0M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
23.2%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 3, 2026 | $0.30 | $0.12 | 148.1% |
| March 31, 2026 | $-0.09 | $0.05 | -281.8% | |
| Dec. 31, 2025 | $0.01 | $0.04 | -74.1% | |
| Sept. 30, 2025 | $0.06 | $0.04 | 67.1% | |
| June 30, 2025 | $0.04 | $0.01 | 179.7% | |
| March 31, 2025 | $0.00 | $-0.07 | 100.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $875M | $451M | $331M | $271M | $157M | $18M | $49M | $21M | $25M | $26M | $48M | $14M | |
| Cost of Revenue | $19M | $12M | $4M | $6M | $7M | $2M | $4M | · | $1M | $2M | $1M | $1.0K | |
| R&D Expense | $166M | $175M | $217M | $253M | $209M | $123M | $107M | $85M | $67M | $61M | $73M | $52M | |
| SG&A Expense | $349M | $266M | $214M | $159M | $119M | $68M | $37M | $30M | $14M | $11M | $13M | $7M | |
| Operating Expenses | $534M | $453M | $435M | $419M | $335M | $193M | $148M | $115M | $83M | $75M | $88M | $59M | |
| Operating Income | $341M | $-3M | $-104M | $-148M | $-178M | $-175M | $-99M | $-94M | $-57M | $-49M | $-39M | $-46M | |
| Interest Expense | · | · | $108M | $99M | $59M | $15M | $12M | $9M | $9M | $6M | $5M | $5M | |
| Other Non-op | $-74M | $-84M | $-123M | $-96M | · | · | · | · | · | · | · | · | |
| Pretax Income | $267M | $-87M | $-226M | $-244M | $-182M | $-183M | $-109M | · | · | · | · | · | |
| Income Tax | $4M | $2M | $310.0K | $3M | $2M | $0 | $0 | $0 | $0 | $0 | $0 | · | |
| Net Income | $264M | $-89M | $-227M | $-247M | $-184M | $-183M | $-109M | $-101M | $-66M | $-55M | $-43M | $-45M | |
| EPS (Basic) | $1.26 | $-0.43 | $-1.18 | $-1.33 | $-1.03 | $-1.09 | · | · | · | · | · | · | |
| EPS (Diluted) | $1.21 | $-0.43 | $-1.18 | $-1.33 | $-1.03 | $-1.09 | · | · | · | · | · | · | |
| Shares (Basic) | 209,893,000 | 206,696,000 | 192,198,000 | 185,908,000 | 179,117,000 | 167,267,000 | · | · | · | · | · | · | |
| Shares (Diluted) | 218,581,000 | 206,696,000 | 192,198,000 | 185,908,000 | 179,117,000 | 167,267,000 | 115,600,000 | 103,185,000 | 84,451,000 | 73,699,000 | 72,901,000 | 66,773,000 | |
| EBITDA | $342M | $-1M | $-102M | $-147M | $-177M | $-174M | $-99M | $-93M | · | $-48M | $-39M | $-46M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $90M | $105M | $111M | $305M | $504M | $272M | $114M | $27M | $50M | $22M | $29M | $55M | |
| Short-term Investments | $185M | $216M | · | · | · | · | · | · | · | · | · | · | |
| Receivables | $107M | $79M | $57M | $51M | $29M | $9M | $22M | $4M | $6M | $9M | $6M | $4M | |
| Inventory | $5M | $8M | $29M | $28M | $16M | $7M | $0 | $2M | · | $500.0K | $2M | $683.0K | |
| Prepaid Expense | $17M | $14M | $20M | $13M | $10M | $6M | $4M | $2M | $1M | $1M | $3M | $6M | |
| Current Assets | $404M | $422M | $496M | $516M | $566M | $324M | $164M | $114M | $125M | $67M | $64M | $89M | |
| PP&E (Net) | $9M | $8M | $8M | $9M | $9M | $7M | $7M | $9M | $10M | $10M | $5M | $207.0K | |
| PP&E (Gross) | $18M | $20M | $19M | $18M | $17M | $14M | $14M | $15M | $15M | $15M | $19M | $14M | |
| Accum. Depreciation | $9M | $12M | $11M | $10M | $8M | $7M | $7M | $6M | $5M | $5M | $14M | $14M | |
| Other Non-current Assets | $6M | $5M | $80.0K | $7M | $6M | $4M | $4M | $978.0K | $2M | $4M | $5M | $6M | |
| Total Assets | $514M | $490M | $517M | $550M | $588M | $335M | $175M | $147M | $178M | $90M | $122M | $137M | |
| Accounts Payable | $16M | $12M | $21M | $14M | $28M | $19M | $14M | $8M | $6M | $4M | $9M | $3M | |
| Accrued Liabilities | $126M | $113M | $103M | $88M | $73M | $34M | $21M | $16M | $13M | $11M | $16M | $11M | |
| Short-term Debt | · | · | · | · | · | $30M | $30M | $29M | $29M | $28M | $28M | $30M | |
| Current Liabilities | $196M | $160M | $150M | $106M | $104M | $106M | $92M | $69M | $75M | $54M | $62M | $57M | |
| Capital Leases | $9M | $8M | $8M | $4M | $6M | $4M | · | · | · | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | $3M | · | · | · | · | |
| Total Liabilities | $633M | $966M | $972M | · | · | · | · | · | · | · | · | · | |
| Long-term Debt | · | · | · | · | $298M | $123M | $50M | $30M | $23M | $23M | · | · | |
| Total Debt | $0 | $315M | $303M | $232M | $136M | $150M | $30M | $29M | · | $28M | $30M | $30M | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $984.0K | $738.0K | $734.0K | $720.0K | |
| Paid-in Capital | $1.38B | $1.29B | $1.22B | $1.16B | $1.10B | $1.00B | $877M | $780M | $715M | $567M | $558M | $543M | |
| Retained Earnings | $-1.51B | $-1.77B | $-1.68B | $-1.45B | $-1.21B | $-1.02B | $-841M | $-732M | $-632M | $-566M | $-511M | $-468M | |
| AOCI | $38.0K | $921.0K | $1M | $26.0K | $177.0K | $3.0K | $39.0K | $-297.0K | $-243.0K | $-12.0K | $-206.0K | $-130.0K | |
| Stockholders' Equity | $-119M | $-476M | $-456M | $-295M | $-107M | $-19M | $38M | $49M | $84M | $2M | $48M | $76M | |
| Liabilities + Equity | $514M | $490M | $517M | $550M | $588M | $335M | $175M | $147M | $178M | $90M | $122M | $137M | |
| Shares Outstanding | 213,060,000 | 208,543,000 | 205,771,000 | 187,906,000 | 184,350,000 | 176,883,000 | 154,082,000 | 110,063,000 | 98,411,000 | 73,782,000 | 73,355,000 | 71,955,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1M | $1M | $2M | $1M | $777.0K | $748.0K | $724.0K | $770.0K | $704.0K | $483.0K | $180.0K | $177.0K | |
| Stock-based Comp | $85M | $65M | $56M | $45M | $35M | $15M | $18M | $9M | $13M | $8M | $10M | $10M | |
| Deferred Tax | $-1M | $-354.0K | $-682.0K | $11.0K | $-159.0K | · | · | · | · | · | · | · | |
| Other Non-cash | $-2M | $-29M | $75M | $39M | $6M | $30M | $870.0K | $-1M | · | $-7M | $20M | $-4M | |
| Operating Cash Flow | $347M | $-52M | $-95M | $-162M | $-142M | $-135M | $-90M | $-93M | $-41M | $-53M | $-13M | $-39M | |
| CapEx | $2M | $1M | $2M | $1M | $2M | $514.0K | $343.0K | $366.0K | $328.0K | $5M | $5M | $106.0K | |
| Investing Cash Flow | $-14M | $53M | $-131M | $-128M | $16M | $-7M | $78M | $5M | $-65M | $23M | $-18M | · | |
| Debt Issued | $0 | $0 | $300M | $73M | $0 | · | · | · | · | · | · | · | |
| Net Debt Issued | $-300M | $0 | $300M | · | · | · | · | · | · | · | · | · | |
| Stock Issued | · | · | $0 | $0 | $50M | $93M | $58M | $53M | $134M | · | · | $107M | |
| Net Stock Activity | · | · | $0 | $0 | $50M | $93M | $58M | $53M | · | · | · | $107M | |
| Financing Cash Flow | $-350M | $-6M | $32M | $88M | $360M | $301M | $99M | $63M | $136M | $23M | $5M | · | |
| Net Change in Cash | $-15M | $-6M | $-194M | $-201M | $233M | $159M | $87M | $-25M | $30M | $-7M | $-26M | $33M | |
| Taxes Paid | $3M | $2M | $1M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $345M | $-53M | $-97M | $-163M | $-145M | $-138M | $-90M | $-93M | · | $-59M | $-18M | $-39M | |
| Levered FCF | · | · | $-206M | $-263M | $-205M | $-152M | · | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 39.0% | -0.56% | -31.3% | -54.8% | -113.1% | -981.1% | -203.7% | -456.2% | · | -184.4% | -81.7% | -336.4% | |
| Net Margin | 30.2% | -19.7% | -68.4% | -91.2% | -117.1% | -1026.4% | -223.0% | -490.2% | · | -209.2% | -89.1% | -332.1% | |
| Pretax Margin | 30.6% | -19.3% | -68.3% | -90.2% | -115.7% | -1026.4% | · | · | · | · | · | · | |
| EBITDA Margin | 39.1% | -0.29% | -30.8% | -54.3% | -112.6% | -976.9% | -202.2% | -452.5% | · | -182.6% | -81.4% | -335.0% | |
| ROA | 52.5% | -17.6% | -42.5% | -43.4% | -39.9% | -71.7% | -67.6% | -62.3% | · | -52.0% | -32.9% | -48.7% | |
| ROE | -97.6% | 18.8% | 52.3% | 92.0% | 144.9% | -2543.5% | 7257.4% | -165.8% | · | -223.7% | -69.8% | -121.3% | |
| ROIC | -282.4% | 1.6% | 68.2% | 238.4% | -618.4% | -133.9% | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.1 | 2.6 | 3.3 | 4.9 | 5.5 | 3.1 | 1.8 | 1.6 | · | 1.2 | 1.0 | 1.5 | |
| Quick Ratio | 1.9 | 1.1 | 1.1 | 3.4 | 5.1 | 2.7 | 1.5 | 0.4 | · | 0.6 | 0.5 | 0.9 | |
| Debt / Equity | 0.0 | -0.7 | -0.7 | -0.8 | -1.3 | -7.8 | 0.8 | 0.6 | · | 17.9 | 0.6 | 0.4 | |
| LT Debt / Equity | 0.0 | -0.7 | -0.7 | -0.8 | -1.3 | -6.2 | · | · | · | · | · | · | |
| Interest Coverage | · | · | -1.0 | -1.5 | -3.0 | -12.1 | -8.4 | -10.3 | · | -7.5 | -7.6 | -9.2 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.7 | 0.9 | 0.6 | 0.5 | 0.3 | 0.1 | 0.3 | 0.1 | · | 0.2 | 0.4 | 0.1 | |
| Inventory Turnover | 2.8 | 0.4 | 0.2 | 0.3 | 0.6 | 0.4 | · | · | · | 2.2 | 1.2 | 0.0 | |
| Receivables Turnover | 9.4 | 6.6 | 6.2 | 6.8 | 8.3 | 1.2 | 3.7 | 4.0 | · | 3.5 | 9.6 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-0.56 | $-2.28 | $-2.21 | $-1.57 | $-0.58 | $-0.11 | $0.25 | $0.45 | · | $0.02 | $0.65 | $1.05 | |
| Revenue / Share | $4.00 | $2.18 | $1.72 | $1.46 | $0.88 | $0.11 | $0.42 | $0.20 | · | $0.36 | $0.66 | · | |
| Cash Flow / Share | $1.59 | $-0.25 | $-0.49 | $-0.87 | $-0.79 | $-0.82 | $-0.77 | $-0.90 | · | $-0.73 | $-0.18 | · | |
| Cash / Share | $0.42 | $0.50 | $0.54 | $1.62 | $2.74 | $1.54 | $0.74 | $0.24 | · | $0.30 | $0.39 | $0.76 | |
| EPS (TTM) | $1.21 | $-0.43 | $-1.18 | $-1.33 | $-1.03 | $-1.09 | $-0.61 | $-0.61 | $-0.61 | $-0.61 | $-0.60 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 94.1% | 36.0% | 22.4% | 72.3% | 782.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 47.8% | 42.1% | 165.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 117.9% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $875M | $451M | $331M | $271M | $157M | $18M | $49M | $21M | $25M | $26M | $48M | $14M | |
| Net Income TTM | $264M | $-89M | $-227M | $-247M | $-184M | $-183M | $-109M | $-101M | $-66M | $-55M | $-43M | $-45M | |
| Market Cap | $1.66B | $1.57B | $1.23B | $2.16B | $2.55B | $1.32B | $532M | $888M | · | $467M | $757M | $875M | |
| Enterprise Value | $1.39B | $1.78B | $1.43B | $2.08B | $2.18B | $1.20B | $447M | $891M | · | $473M | $758M | $850M | |
| P/E | 6.4 | -17.5 | -5.1 | -8.6 | -13.4 | -6.8 | -5.7 | -13.2 | -8.0 | -10.4 | -17.2 | · | |
| P/S | 1.9 | 3.5 | 3.7 | 8.0 | 16.2 | 74.0 | 10.9 | 43.0 | · | 17.7 | 15.7 | 64.3 | |
| P/B | -13.9 | -3.3 | -2.7 | -7.3 | -23.9 | -68.4 | 13.9 | 18.0 | · | 296.0 | 15.9 | 11.6 | |
| P / Cash Flow | 4.8 | -30.1 | -13.0 | -13.3 | -18.0 | -9.6 | -5.9 | -9.6 | · | -8.7 | -57.7 | -22.7 | |
| P / FCF | 4.8 | -29.5 | -12.7 | -13.2 | -17.7 | -9.6 | -5.9 | -9.6 | · | -8.0 | -41.5 | -22.6 | |
| EV / EBITDA | 4.1 | -1371.2 | -14.0 | -14.2 | -12.3 | -6.9 | -4.5 | -9.5 | · | -9.8 | -19.3 | -18.7 | |
| EV / FCF | 4.0 | -33.5 | -14.6 | -12.8 | -15.1 | -8.7 | -5.0 | -9.6 | · | -8.1 | -41.6 | -22.0 | |
| EV / Revenue | 1.6 | 3.9 | 4.3 | 7.7 | 13.9 | 67.1 | 9.2 | 43.1 | · | 18.0 | 15.7 | 62.5 | |
| Earnings Yield | 15.5% | -5.7% | -19.7% | -11.6% | -7.4% | -14.6% | -17.7% | -7.6% | -12.4% | -9.6% | -5.8% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $218M | $156M | $407M | $159M | $163M | $146M | $132M | $117M | $109M | $93M | $93M | $87M | $82M | $69M | $80M | $76M | |
| Cost of Revenue | $4M | $5M | $10M | $2M | $3M | $5M | $6M | $3M | $2M | $1M | $2M | $1M | $894.0K | $931.0K | $2M | $4M | |
| R&D Expense | $52M | $60M | $41M | $45M | $43M | $37M | $49M | $41M | $38M | $46M | $70M | $47M | $51M | $48M | $73M | $53M | |
| SG&A Expense | $64M | $95M | $96M | $83M | $87M | $82M | $81M | $65M | $61M | $59M | $65M | $51M | $51M | $48M | $50M | $37M | |
| Operating Expenses | $120M | $858M | $146M | $130M | $134M | $124M | $136M | $109M | $101M | $107M | $136M | $99M | $103M | $97M | $126M | $93M | |
| Operating Income | $98M | $-702M | $260M | $30M | $30M | $21M | $-5M | $8M | $9M | $-14M | $-43M | $-12M | $-21M | $-28M | $-46M | $-17M | |
| Interest Expense | · | · | · | · | · | · | · | · | $25M | $25M | · | $27M | $29M | $27M | · | $25M | |
| Other Non-op | $260.0K | $-1M | $-12M | $-17M | $0 | $0 | $-21M | $-21M | $-21M | $-21M | · | · | · | · | · | · | |
| Pretax Income | $79M | $-721M | $248M | $12M | $6M | $758.0K | $-26M | $-13M | $-13M | $-35M | $-63M | $-36M | $-75M | $-53M | $-71M | $-41M | |
| Income Tax | $1M | $1M | $2M | $-769.0K | $1M | $726.0K | $804.0K | $586.0K | $172.0K | $365.0K | $-1M | $330.0K | $740.0K | $671.0K | $76.0K | $2M | |
| Net Income | $78M | $-722M | $246M | $13M | $5M | $32.0K | $-27M | $-14M | $-13M | $-35M | $-62M | $-36M | $-75M | $-53M | $-72M | $-43M | |
| EPS (Basic) | $0.31 | $-2.98 | $1.18 | $0.06 | $0.02 | $0.00 | $-0.13 | $-0.07 | $-0.06 | $-0.17 | $-0.31 | $-0.19 | $-0.40 | $-0.28 | $-0.38 | $-0.23 | |
| EPS (Diluted) | $0.30 | $-2.98 | $1.13 | $0.06 | $0.02 | $0.00 | $-0.13 | $-0.07 | $-0.06 | $-0.17 | $-0.31 | $-0.19 | $-0.40 | $-0.28 | $-0.38 | $-0.23 | |
| Shares (Basic) | 254,481,000 | 242,258,000 | · | 210,176,000 | 209,519,000 | 208,882,000 | · | 206,905,000 | 206,425,000 | 206,064,000 | · | 189,644,000 | 189,118,000 | 188,509,000 | · | 186,180,000 | |
| Shares (Diluted) | 265,165,000 | 242,258,000 | · | 219,885,000 | 219,886,000 | 215,261,000 | · | 206,905,000 | 206,425,000 | 206,064,000 | · | 189,644,000 | 189,118,000 | 188,509,000 | · | 186,180,000 | |
| EBITDA | $98M | $-702M | · | $30M | $30M | $22M | · | $8M | $9M | $-14M | · | $-12M | $-21M | $-28M | · | $-17M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $155M | $172M | $90M | $84M | $88M | $105M | $105M | $97M | $78M | $84M | $111M | $151M | $146M | $155M | $305M | $247M | |
| Short-term Investments | $198M | $67M | $185M | $129M | $172M | $190M | $216M | · | · | · | · | · | · | · | · | · | |
| Receivables | $111M | $109M | $107M | $91M | $91M | $93M | $79M | $72M | $69M | $61M | · | $54M | $58M | $49M | · | $43M | |
| Inventory | $6M | $6M | $5M | $5M | $5M | $7M | $8M | $8M | $4M | $30M | · | $30M | $27M | $27M | · | $27M | |
| Prepaid Expense | $15M | $19M | $17M | $17M | $13M | $14M | $14M | $16M | $16M | $18M | · | $20M | $14M | $15M | · | $11M | |
| Current Assets | $485M | $374M | $404M | $356M | $398M | $410M | $422M | $427M | $363M | $447M | · | $502M | $511M | $491M | · | $509M | |
| PP&E (Net) | $9M | $9M | $9M | $8M | $8M | $8M | $8M | $7M | $8M | $8M | · | $9M | $8M | $8M | · | $8M | |
| PP&E (Gross) | · | · | $18M | · | · | · | $20M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $9M | · | · | · | $12M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $20M | $20M | $6M | $4M | $4M | $5M | $5M | $16M | $12M | $13M | · | $11M | $7M | $7M | · | $7M | |
| Total Assets | $558M | $465M | $514M | $446M | $457M | $480M | $490M | $491M | $472M | $468M | · | $523M | $530M | $510M | · | $559M | |
| Accounts Payable | $11M | $11M | $16M | $6M | $9M | $10M | $12M | $13M | $8M | $12M | · | $11M | $14M | $6M | · | $9M | |
| Accrued Liabilities | $122M | $119M | $126M | $119M | $107M | $93M | $113M | $104M | $90M | $79M | · | $77M | $75M | $75M | · | $69M | |
| Current Liabilities | $209M | $195M | $196M | $190M | $177M | $140M | $160M | $154M | $129M | $120M | · | $91M | $93M | $85M | · | $82M | |
| Capital Leases | $11M | $11M | $9M | $8M | $8M | $8M | $8M | $8M | $8M | $9M | · | $10M | $6M | $6M | · | $6M | |
| Total Liabilities | $1.01B | $1.02B | $633M | $834M | $879M | $932M | $966M | $960M | · | · | · | · | · | · | · | · | |
| Total Debt | $395M | $395M | · | $194M | $243M | $315M | · | $314M | $314M | $308M | · | $298M | $293M | $233M | · | $224M | |
| Common Stock | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Paid-in Capital | $1.69B | $1.67B | $1.38B | $1.36B | $1.34B | $1.31B | $1.29B | $1.27B | $1.25B | $1.24B | · | $1.21B | $1.19B | $1.18B | · | $1.14B | |
| Retained Earnings | $-2.15B | $-2.23B | $-1.51B | $-1.75B | $-1.76B | $-1.77B | $-1.77B | $-1.74B | $-1.73B | $-1.72B | · | $-1.62B | $-1.58B | $-1.51B | · | $-1.38B | |
| AOCI | $-528.0K | $-368.0K | $38.0K | $1M | $2M | $1M | $921.0K | $2M | $557.0K | $771.0K | · | $800.0K | $690.0K | $585.0K | · | $-98.0K | |
| Stockholders' Equity | $-454M | $-554M | $-119M | $-388M | $-422M | $-452M | $-476M | $-469M | $-476M | $-476M | $-456M | $-411M | $-389M | $-328M | $-295M | $-243M | |
| Liabilities + Equity | $558M | $465M | $514M | $446M | $457M | $480M | $490M | $491M | $472M | $468M | · | $523M | $530M | $510M | · | $559M | |
| Shares Outstanding | 255,265,000 | 254,014,000 | 213,060,000 | 210,522,000 | 209,905,000 | 209,208,000 | 208,543,000 | 207,119,000 | 206,629,000 | 206,347,000 | 205,771,000 | 189,803,000 | 189,491,000 | 188,883,000 | 187,906,000 | 186,411,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | $394.0K | $335.0K | $329.0K | $331.0K | $309.0K | $311.0K | $320.0K | $306.0K | $423.0K | $420.0K | $407.0K | $405.0K | $396.0K | $389.0K | |
| Stock-based Comp | $15M | $16M | $24M | $19M | $21M | $21M | $21M | $17M | $13M | $14M | $16M | $12M | $13M | $14M | $15M | $10M | |
| Amort. of Intangibles | $0 | $600.0K | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | · | · | · | · | $-49M | · | · | · | $-32M | · | · | · | $-9M | · | · | |
| Operating Cash Flow | $104M | $-62M | $292M | $42M | $41M | $-28M | $-5M | $8M | $-1M | $-54M | $-9M | $-20M | $-19M | $-48M | $-24M | $-32M | |
| CapEx | $209.0K | $403.0K | $802.0K | $1M | $179.0K | $143.0K | $675.0K | $59.0K | $155.0K | $235.0K | $554.0K | $987.0K | $467.0K | $160.0K | $526.0K | $175.0K | |
| Investing Cash Flow | $-110M | $-269M | $-83M | $14M | $29M | $27M | $18M | $8M | $-2M | $29M | $-28M | $23M | $-19M | $-107M | $77M | $-70M | |
| Debt Issued | $0 | $400M | · | · | $0 | $0 | $0 | $0 | · | · | $0 | $0 | · | · | $0 | $73M | |
| Net Debt Issued | · | $400M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-11M | $413M | $-218M | $-59M | $-74M | $529.0K | $-4M | $1M | $-2M | $-1M | $-3M | $1M | $29M | $5M | $4M | $76M | |
| Net Change in Cash | $-17M | $82M | · | · | $-17M | $558.0K | $7M | $19M | $-6M | $-26M | $-40M | $5M | $-9M | $-150M | $58M | $-26M | |
| Taxes Paid | $2M | $1M | · | · | $1M | $1.0K | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $-62M | · | · | · | $-28M | · | · | · | $-54M | · | · | · | $-48M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-79M | · | · | · | $-75M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 45.1% | -448.6% | · | 18.6% | 18.2% | 14.6% | · | 6.6% | 8.0% | -15.6% | · | -13.7% | -25.1% | -41.3% | · | -23.0% | |
| Net Margin | 35.9% | -461.5% | · | 8.1% | 3.1% | 0.02% | · | -12.0% | -11.6% | -38.1% | · | -41.7% | -91.3% | -77.5% | · | -56.1% | |
| Pretax Margin | 36.4% | -460.8% | · | 7.6% | 4.0% | 0.52% | · | -11.5% | -11.4% | -37.8% | · | -41.3% | -90.4% | -76.6% | · | -54.1% | |
| EBITDA Margin | 45.1% | -448.6% | · | 18.6% | 18.2% | 14.8% | · | 6.6% | 8.0% | -15.3% | · | -13.7% | -25.1% | -40.7% | · | -23.0% | |
| ROA | 15.4% | -152.8% | · | 2.8% | 1.1% | 0.01% | · | -2.8% | -2.5% | -7.2% | · | -6.7% | -14.5% | -10.3% | · | -10.3% | |
| ROE | -17.9% | 143.5% | · | -3.0% | -1.1% | -0.01% | · | 3.2% | 2.9% | 8.8% | · | 11.1% | 25.0% | 21.7% | · | 21.8% | |
| ROIC | -164.9% | 442.9% | · | -16.3% | -13.1% | -0.66% | · | -5.2% | -5.5% | 8.7% | · | 10.7% | 21.9% | 30.0% | · | 96.3% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.3 | 1.9 | · | 1.9 | 2.2 | 2.9 | · | 2.8 | 2.8 | 3.7 | · | 5.5 | 5.5 | 5.8 | · | 6.2 | |
| Quick Ratio | 2.2 | 1.8 | · | 1.6 | 2.0 | 2.8 | · | 1.1 | 1.1 | 1.2 | · | 2.3 | 2.2 | 2.4 | · | 3.5 | |
| Debt / Equity | -0.9 | -0.7 | · | -0.5 | -0.6 | -0.7 | · | -0.7 | -0.7 | -0.6 | · | -0.7 | -0.8 | -0.7 | · | -0.9 | |
| LT Debt / Equity | -0.9 | -0.7 | · | -0.5 | -0.6 | -0.7 | · | -0.7 | -0.7 | -0.6 | · | -0.7 | -0.8 | -0.7 | · | -0.9 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 0.4 | -0.6 | · | -0.4 | -0.7 | -1.0 | · | -0.7 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.3 | · | 0.3 | 0.4 | 0.3 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | |
| Inventory Turnover | 0.7 | 0.8 | · | 0.3 | 0.6 | 0.2 | · | 0.2 | 0.1 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.2 | |
| Receivables Turnover | 2.2 | 1.5 | · | 1.9 | 2.0 | 1.9 | · | 1.9 | 1.7 | 1.7 | · | 1.8 | 1.7 | 1.6 | · | 2.2 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-1.78 | $-2.18 | · | $-1.84 | $-2.01 | $-2.16 | · | $-2.26 | $-2.30 | $-2.31 | · | $-2.17 | $-2.05 | $-1.74 | · | $-1.30 | |
| Revenue / Share | $0.82 | $0.65 | · | $0.72 | $0.74 | $0.68 | · | $0.57 | $0.53 | $0.45 | · | $0.46 | $0.44 | $0.36 | · | $0.41 | |
| Cash Flow / Share | · | $-0.26 | · | · | · | $-0.13 | · | · | · | $-0.26 | · | · | · | $-0.25 | · | · | |
| Cash / Share | $0.61 | $0.68 | · | $0.40 | $0.42 | $0.50 | · | $0.47 | $0.38 | $0.41 | · | $0.80 | $0.77 | $0.82 | · | $1.32 | |
| EPS (TTM) | $-1.49 | $-1.77 | · | $-0.05 | $-0.18 | $-0.26 | · | $-0.61 | $-0.73 | $-1.07 | · | $-1.25 | $-1.29 | $-1.21 | · | $-1.05 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $941M | $886M | · | $600M | $558M | $503M | · | $413M | $382M | $355M | · | $318M | $307M | $290M | · | $238M | |
| Net Income TTM | $-385M | $-458M | · | $-9M | $-36M | $-53M | · | $-124M | $-146M | $-209M | · | $-236M | $-243M | $-226M | · | $-193M | |
| Market Cap | $2.55B | $2.42B | · | $1.60B | $1.88B | $1.57B | · | $1.57B | $1.28B | $1.05B | · | $1.34B | $1.33B | $1.58B | · | $2.35B | |
| Enterprise Value | $2.60B | $2.58B | · | $1.58B | $1.86B | $1.59B | · | $1.79B | $1.51B | $1.27B | · | $1.49B | $1.48B | $1.65B | · | $2.33B | |
| P/E | -6.7 | -5.4 | · | -151.8 | -49.8 | -28.8 | · | -12.5 | -8.5 | -4.7 | · | -5.7 | -5.5 | -6.9 | · | -12.0 | |
| P/S | 2.7 | 2.7 | · | 2.7 | 3.4 | 3.1 | · | 3.8 | 3.3 | 2.9 | · | 4.2 | 4.4 | 5.4 | · | 9.9 | |
| P/B | -5.6 | -4.4 | · | -4.1 | -4.5 | -3.5 | · | -3.4 | -2.7 | -2.2 | · | -3.3 | -3.4 | -4.8 | · | -9.7 | |
| P / Cash Flow | · | -39.1 | · | · | · | -57.0 | · | · | · | -19.5 | · | · | · | -33.2 | · | · | |
| EV / Revenue | 2.8 | 2.9 | · | 2.6 | 3.3 | 3.2 | · | 4.3 | 4.0 | 3.6 | · | 4.7 | 4.8 | 5.7 | · | 9.8 | |
| Earnings Yield | -14.9% | -18.6% | · | -0.66% | -2.0% | -3.5% | · | -8.0% | -11.8% | -21.1% | · | -17.7% | -18.3% | -14.5% | · | -8.3% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $875M | $451M | $331M | $271M | $157M |
| Operating Margin % | 39.0% | -0.56% | -31.3% | -54.8% | -113.1% |
| Net Income | $264M | $-89M | $-227M | $-247M | $-184M |
| Diluted EPS | $1.21 | $-0.43 | $-1.18 | $-1.33 | $-1.03 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | -0.7 | -0.7 | -0.8 | -1.3 |
| Current Ratio | 2.1 | 2.6 | 3.3 | 4.9 | 5.5 |
| Quick Ratio | 1.9 | 1.1 | 1.1 | 3.4 | 5.1 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $345M | $-53M | $-97M | $-163M | $-145M |
Institutional owners (13F) 345 filers · $2.8B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
345
Value held
$2.8B
New positions
55
Exited positions
34
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 55 (-22 vs prior Q) | 34 (-5 vs prior Q) | 137 (+20 vs prior Q) | 87 (+8 vs prior Q) | +4.1M |
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 |
|---|---|---|---|---|
| BlackRock, Inc. | $238,930,360 | 23,893,036 | 8.46% | Shares |
| VANGUARD GROUP INC | $173,732,325 | 22,273,375 | 6.15% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $158,271,860 | 15,827,186 | 5.61% | Shares |
| STATE STREET CORP | $151,910,980 | 15,191,098 | 5.38% | Shares |
| DEERFIELD MANAGEMENT COMPANY, L.P. | $150,964,030 | 15,096,403 | 5.35% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $113,642,360 | 11,364,236 | 4.03% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $111,391,580 | 11,139,158 | 3.95% | Shares |
| TCG Crossover Management, LLC | $110,209,680 | 11,020,968 | 3.90% | Shares |
| PERCEPTIVE ADVISORS LLC | $103,088,880 | 10,308,888 | 3.65% | Shares |
| JANUS HENDERSON GROUP PLC | $84,853,520 | 8,908,506 | 3.01% | Shares |
| Vestal Point Capital, LP | $83,000,000 | 8,300,000 | 2.94% | Shares |
| TWO SIGMA INVESTMENTS, LP | $67,753,490 | 6,775,349 | 2.40% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $62,493,232 | 6,248,046 | 2.21% | Shares |
| Aberdeen Group plc | $53,108,710 | 5,310,871 | 1.88% | Shares |
| UBS Group AG | $50,782,800 | 5,078,280 | 1.80% | Shares |
| BANK OF AMERICA CORP /DE/ | $48,012,840 | 4,801,284 | 1.70% | Shares |
| GOLDMAN SACHS GROUP INC | $44,818,738 | 4,481,874 | 1.59% | Shares |
| Frazier Life Sciences Management, L.P. | $40,092,400 | 4,009,240 | 1.42% | Shares |
| Nuveen, LLC | $40,072,370 | 4,007,237 | 1.42% | Shares |
| MILLENNIUM MANAGEMENT LLC | $33,947,290 | 3,394,729 | 1.20% | Shares |
| TWO SIGMA ADVISERS, LP | $31,895,074 | 4,089,112 | 1.13% | Shares |
| RP Management, LLC | $28,846,155 | 3,846,154 | 1.02% | Shares |
| JANE STREET GROUP, LLC | $27,626,830 | 2,762,683 | 0.98% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $27,187,810 | 2,718,781 | 0.96% | Shares |
| Fisher Asset Management, LLC | $26,040,270 | 2,604,027 | 0.92% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $25,302,900 | 2,530,290 | 0.90% | Shares |
| Kynam Capital Management, LP | $25,226,600 | 2,522,660 | 0.89% | Shares |
| Candriam S.C.A. | $25,125,293 | 2,514,949 | 0.89% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $23,532,910 | 2,353,291 | 0.83% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $23,320,430 | 2,332,043 | 0.83% | Shares |
| NORTHERN TRUST CORP | $22,557,310 | 2,255,731 | 0.80% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $22,143,020 | 2,214,302 | 0.78% | Shares |
| MORGAN STANLEY | $19,996,852 | 1,999,684 | 0.71% | Shares |
| Nantahala Capital Management, LLC | $19,011,600 | 1,901,160 | 0.67% | Shares |
| Eversept Partners, LP | $18,656,530 | 1,865,653 | 0.66% | Shares |
| ORBIMED ADVISORS LLC | $18,520,000 | 1,852,000 | 0.66% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $18,449,120 | 1,844,912 | 0.65% | Shares |
| STIFEL FINANCIAL CORP | $18,262,340 | 1,826,234 | 0.65% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $17,595,730 | 1,759,573 | 0.62% | Shares |
| CITADEL ADVISORS LLC | $17,591,600 | 1,759,160 | 0.62% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $16,428,740 | 1,642,874 | 0.58% | Shares |
| IMC-Chicago, LLC | $16,343,360 | 1,634,336 | 0.58% | Shares |
| Parkman Healthcare Partners LLC | $16,242,790 | 1,624,279 | 0.58% | Shares |
| Legal & General Group Plc | $14,555,141 | 1,455,514 | 0.52% | Shares |
| OP Asset Management Ltd | $13,409,900 | 1,340,990 | 0.48% | Shares |
| Invesco Ltd. | $12,337,830 | 1,233,783 | 0.44% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,956,510 | 1,195,651 | 0.42% | Shares |
| Pictet Asset Management Holding SA | $11,951,392 | 1,249,771 | 0.42% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $11,740,520 | 1,174,052 | 0.42% | Shares |
| FIRST TRUST ADVISORS LP | $11,204,690 | 1,120,469 | 0.40% | Shares |
Activists & 5%+ owners 15 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 |
|---|---|---|---|---|---|
| Great Point Partners, LLC, Dr. Jeffrey R. Jay, M.D., Mr. David Kroin ×3 filings | July 31, 2018 | · | Initial filing | · | SEC |
| RA Capital Management, LLC, Peter Kolchinsky, RA Capital Healthcare Fund, L.P. | April 2, 2018 | · | Initial filing | Passive investment | SEC |
| Baker Bros. Advisors LP, Baker Bros. Advisors (GP) LLC, Julian C. Baker, Felix J. Baker ×5 filings | Aug. 16, 2016 | · | Initial filing | · | SEC |
| Baker Bros. Advisors, LLC, Julian C. Baker, Felix J. Baker ×2 filings | Oct. 23, 2012 | · | Initial filing | M&A / sale | SEC |
| Julian C. Baker, Felix J. Baker ×4 filings | Oct. 13, 2011 | · | Initial filing | · | SEC |
| L. John Doerr III, KPCB Pandemic and Bio Defense Fund, LLC, KPTV, LLC ×2 filings | Aug. 20, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 7, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 7, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 7, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person | Oct. 13, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 26, 2004 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 25, 2004 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 24, 2004 | · | Initial filing | · | SEC |
| Biotechnology Value Fund, L.P., Investment 10, L.L.C., Biotechnology Value Fund II, L.P., BVF Investments, L.L.C., BVF Partners L.P., BVF Inc. ×2 filings | Oct. 31, 2003 | · | Initial filing | · | SEC |
| William W. Featheringill | Feb. 14, 2002 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 51 insiders · 21 officers · 30 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Babar Ghias | Chief Financial Officer | Dec. 17, 2025 A | 268,700 | 0 | 0 | $0 |
| Anthony Doyle | Chief Financial Officer | Dec. 19, 2024 A | 377,867 | 0 | 0 | $0 |
| Thomas R Staab II | Senior Vice President and CFO | Feb. 21, 2020 A | 125,176 | 0 | 0 | $0 |
| Stuart Grant | SR VP & CFO | March 16, 2011 M | 57,102 | 0 | 0 | $0 |
| Charles K Gayer | President and CCO | Dec. 22, 2025 M | 952,583 | 0 | 0 | $0 |
| Claude J Bennett | Chief Operating Officer | March 14, 2008 A | 65,730 | 0 | 0 | $0 |
| Alane P Barnes | Chief Legal Officer | May 13, 2026 M | 400,703 | 0 | 7 | $-3,461,969 |
| Sandeep Menon | Chief R&D Officer | April 6, 2026 A | 205,150 | 0 | 0 | $0 |
| Helen M. Thackray | Chief R&D Officer | March 31, 2025 F | 377,318 | 0 | 0 | $0 |
| Michael L Jones | Exec. Director, Finance - PAO | Dec. 19, 2022 A | 16,653 | 0 | 0 | $0 |
| Yarlagadda S Babu | Chief Discovery Officer | Nov. 14, 2022 M | 298,541 | 0 | 0 | $0 |
| William P Sheridan | Chief Medical Officer | March 10, 2022 M | 37,954 | 0 | 0 | $0 |
| Megan Sniecinski | Chief Business Officer | Dec. 15, 2020 A | 45,000 | 0 | 0 | $0 |
| Lynne Powell | Senior VP - CCO | Jan. 28, 2019 M | 0 | 0 | 0 | $0 |
| David Mccullough | VP | March 15, 2012 F | 24,124 | 0 | 0 | $0 |
| Robert S Lowrey | Controller, PAO | Feb. 7, 2011 A | 9,766 | 0 | 0 | $0 |
| Mike Mills | Principal Accounting Officer | March 12, 2010 M | 0 | 0 | 0 | $0 |
| Michael A Darwin | Principal Accounting Officer | July 31, 2008 P | 3,048 | 0 | 0 | $0 |
| Jonathan M Nugent | VP Corp Communications | July 31, 2007 P | 508 | 0 | 0 | $0 |
| James W Alexander | SR. VP, Chief Medical Officer | July 31, 2007 P | 3,659 | 0 | 0 | $0 |
| Randall B Riggs | Senior VP Business Development | May 16, 2007 A | 1,928 | 0 | 0 | $0 |
| Amy E Mckee | Director | Aug. 31, 2026 A | 47,821 | 0 | 1 | $-100,285 |
| Jill C. Milne | Director | Aug. 31, 2026 A | 33,226 | 0 | 0 | $0 |
| Steven Frank | Director | Aug. 31, 2026 A | 36,747 | 0 | 0 | $0 |
| Jon P Stonehouse | Director | Aug. 31, 2026 A | 1,340,419 | 0 | 0 | $0 |
| Vincent Milano | Director | Aug. 31, 2026 A | 109,642 | 0 | 0 | $0 |
| Theresa Heggie | Director | June 11, 2026 A | 80,646 | 0 | 1 | $-504,823 |
| Machelle Sanders | Director | June 11, 2026 A | 45,936 | 0 | 1 | $-68,544 |
| Steven K Galson | Director | June 11, 2026 A | 27,794 | 0 | 0 | $0 |
| Alan G Levin | Director | June 11, 2026 A | 79,565 | 0 | 0 | $0 |
| Nancy J Hutson | Director | June 12, 2025 A | 99,138 | 0 | 0 | $0 |
| George B Abercrombie | Director | June 12, 2024 A | 36,431 | 0 | 0 | $0 |
| Steve Aselage | Director | June 12, 2024 A | 70,159 | 0 | 0 | $0 |
| Kenneth B Lee JR | Director | June 13, 2023 A | 68,863 | 0 | 0 | $0 |
| Robert Alexander Ingram | Director | Feb. 28, 2023 A | 100,198 | 0 | 0 | $0 |
| Stanley C Erck | Director | Nov. 28, 2018 M | 48,333 | 0 | 0 | $0 |
| Fred Cohen | Director | June 20, 2018 A | 119,410 | 0 | 0 | $0 |
| Sanj K Patel | Director | May 24, 2017 A | · | 0 | 0 | $0 |
| Charles A Sanders | Director | Feb. 29, 2016 A | 12,971 | 0 | 0 | $0 |
| Peder Jensen | Director | May 2, 2014 A | 60,000 | 0 | 0 | $0 |
| John L Higgins | Director | May 23, 2012 A | · | 0 | 0 | $0 |
| HOROVITZ ZOLA P | Director | May 23, 2012 A | 3,000 | 0 | 0 | $0 |
| Stephen R Biggar | Director | May 12, 2011 A | · | 0 | 0 | $0 |
| Beth C Seidenberg | Director | May 13, 2010 A | 3,000 | 0 | 0 | $0 |
| William W Featheringill | Director | May 13, 2010 A | 231,538 | 0 | 0 | $0 |
| William M Spencer III | Director | May 16, 2007 A | 186,761 | 0 | 0 | $0 |
| Joseph H Sherrill JR | Director | May 16, 2007 A | 451,900 | 0 | 0 | $0 |
| Charles E Bugg | Director | March 18, 2007 A | 62,439 | 0 | 0 | $0 |
| GORDON CARL L | Director | May 17, 2006 A | 1,100,000 | 0 | 0 | $0 |
| John A Montgomery | Director | Nov. 4, 2003 M | 46,785 | 0 | 0 | $0 |
| Randolph C Steer | · | May 21, 2008 A | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 41 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 |
|---|---|---|---|---|
| PBE · Invesco Exchange-Traded Fund Trust | 2.35% | 1,193,733 SH | Oct. 1, 2026 | Daily |
| BBP · ETFis Series Trust I | 1.42% | 155,993 NS | July 31, 2026 | N-PORT |
| ABLS · Abacus FCF ETF Trust | 0.99% | 510 NS | July 31, 2026 | N-PORT |
| JSMD · Janus Detroit Street Trust | 0.92% | 1,078,429 NS | July 31, 2026 | N-PORT |
| JSML · Janus Detroit Street Trust | 0.62% | 248,560 NS | July 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.59% | 324,702 NS | July 31, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.36% | 516,595 NS | July 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.23% | 73,039 SH | Oct. 1, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.17% | 4,436 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.14% | 249,665 SH | Aug. 19, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.14% | 18,119 SH | Oct. 1, 2026 | Daily |
| ESSC · Strategy Shares | 0.14% | 5,593 NS | July 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.13% | 1,651,139 SH | Sept. 11, 2026 | Daily |
| IWO · iShares Trust | 0.13% | 2,178,966 SH | Sept. 11, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.11% | 174,467 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 64,429 NS | July 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.07% | 46,799 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.07% | 1,339,774 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.07% | 111,471 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.06% | 75,067 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 207,179 SH | Oct. 1, 2026 | Daily |
| IWM · iShares Trust | 0.06% | 5,937,121 SH | Sept. 11, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.05% | 770,732 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.04% | 1,696,014 SH | Aug. 19, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 2,837,341 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.03% | 624,412 SH | Aug. 19, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.03% | 99,007 NS | July 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.02% | 2,922,024 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 11,812 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 72,998 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 336,323 SH | Sept. 11, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 52,194 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 36,571 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 632 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 286 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 8,070,274 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 196,622 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 19,676 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.00% | 51,624 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 10,494 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 766,086 SH | Sept. 11, 2026 | Daily |
BCRX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 17 analysts
BUY
Median target
$17.00
+108.1%
5 29.4%
Strong Buy
10 58.8%
Buy
2 11.8%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
11 analysts · 2026-09-28Mean target $20.64 +152.6%
← Below all targets
Current price $8.17
Low$11.00
Mean$20.64
High$32.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BCRX | $1.66B | 6.4 | 94.1% | 30.2% | -97.6% | · |
| RXRX | $2.16B | -2.8 | 26.9% | -863.4% | -62.9% | · |
| VERA | · | -10.9 | · | · | -55.9% | · |
| MLYS | $2.96B | -15.8 | · | · | -32.2% | · |
| ZBIO | $1.98B | -4.3 | 100.0% | -3777.4% | -156.8% | · |
| VCEL | $1.82B | 112.5 | 16.4% | 6.0% | 5.0% | 74.4% |
| BHVN | $1.50B | -1.6 | · | · | -310.8% | · |
| AGIO | $1.59B | -3.8 | 48.0% | -764.0% | -32.2% | · |
| VIR | $841M | -1.9 | -7.6% | -638.9% | -51.1% | · |
| PVLA | $1.30B | -28.2 | 65.3% | -1610.6% | -110.1% | · |
Latest News Recent headlines mentioning this company
RBC Capital Lifts PT BioCryst Pharmaceuticals (BCRX) as Part of Q1 2026 Results Preview in Biotech
Yahoo Finance · 5 months ago
BioCryst (BCRX) Rallies 7.10% on Acquisition Buzz
Yahoo Finance · 6 months, 1 week ago
BioCryst Pharmaceuticals, Inc. (BCRX) A Good Stock To Buy Now?
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Source: SEC 10-Q filed Aug 5, 2026