BNTC Benitec Biopharma Inc. - Common Stock
$13.57
Price · Aug 18, 2026
Fundamentals as of May 14, 2026
52W Range
$10–$17
54% of range
Analyst Rating
BUY
13 analysts
Price Target
$24
+78% upside
P/E (TTM)
-12.9
ROE
-43.8%
Net Profit Margin
—
BNTC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.57
Market Cap
$356M
P/E (TTM)
-12.9
EPS (TTM)
$-1.05
Revenue (TTM)
$0
Div Yield
—
ROE
-43.8%
Debt/Equity
—
52W Range
$10 – $17
BNTC 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
$0
2019-06-30
→
2024-06-30
EPS
$-1.05
2021-06-30
→
2025-06-30
Free Cash Flow
$-24M
2020-06-30
→
2025-06-30
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BNTC
Peer Median
P/E (TTM)
-12.9
17.4
P/B
3.7
4.8
Price / FCF
-15.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BNTC
Peer Median
ROA
-50.0%
-41.1%
ROE
-43.8%
-52.6%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BNTC
Peer Median
Current Ratio
54.7
7.7
Quick Ratio
54.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BNTC
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BNTC
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 1, 2018 | $0.7650 |
BNTC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 5 38.5%
- Buy 7 53.8%
- Hold 1 7.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-15
Median
$24.50
← Below all targets
$13.57
Low
$16.00
High
$32.00
Median target
$24.50
+80.5%
Mean target
$24.17
+78.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
Next Report
Sep 21, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Sept. 30, 2026 | $-0.24 | $-0.28 | — |
| March 31, 2026 | $-0.24 | $-0.28 | 0.04% |
| Dec. 31, 2025 | $-0.26 | $-0.23 | -0.03% |
| Sept. 30, 2025 | $-0.22 | $-0.38 | 0.16% |
| June 30, 2025 | $-0.42 | $-0.30 | -0.12% |
| March 31, 2025 | $-0.24 | $-0.35 | 0.11% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BNTC | $307M | -11.1 | — | — | -43.8% | — |
| OCGN | $422M | -5.6 | 8.8% | -1537.4% | 1488.8% | — |
| LRMR | $317M | -2.2 | — | — | -167.4% | — |
| PBYI | $300M | 9.8 | -0.91% | 13.6% | 26.5% | — |
| RZLT | $388M | -4.6 | — | — | -56.9% | — |
| EDIT | $201M | -1.1 | 25.4% | -395.0% | -688.8% | — |
| CMPX | $958M | — | — | — | -45.9% | — |
| PROK | — | — | 1075.0% | -7725.2% | 6.9% | — |
| FENC | $263M | -22.6 | -6.1% | -21.8% | -69.6% | — |
| LXEO | $725M | -5.3 | — | — | -51.9% | — |
| CAPR | $1.66B | -12.8 | -11.6% | — | -51.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | · | $0 | $75.0K | $73.0K | $59.0K | $102.0K | $12M | |
| R&D Expense | $18M | $16M | $13M | $11M | $7M | $3M | $5M | |
| SG&A Expense | $23M | $7M | $6M | $7M | $7M | $6M | $5M | |
| Operating Expenses | $42M | $22M | $19M | $18M | $14M | $8M | $10M | |
| Operating Income | $-42M | $-22M | $-19M | $-18M | $-14M | $-8M | $3M | |
| Other Non-op | $-131.0K | $-204.0K | $-30.0K | $-79.0K | $37.0K | $34.0K | · | |
| Net Income | $-38M | $-22M | $-20M | $-18M | $-14M | $-8M | $3M | |
| EPS (Basic) | $-1.05 | $-1.22 | $-14.12 | $-37.88 | $-3.23 | · | · | |
| EPS (Diluted) | $-1.05 | $-1.22 | $-14.12 | $-37.88 | $-3.23 | · | · | |
| Shares (Basic) | 36,209,271 | 18,364,386 | 1,385,818 | 480,688 | 4,295,416 | · | · | |
| Shares (Diluted) | 36,209,271 | 18,364,386 | 1,385,818 | 480,688 | 4,295,416 | · | · | |
| EBITDA | $-42M | $-22M | $-19M | $-18M | $-13M | $-8M | · |
Balance Sheet 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $98M | $51M | $2M | $4M | $20M | $10M | $16M | |
| Prepaid Expense | $628.0K | $516.0K | $1M | $741.0K | $799.0K | $949.0K | $375.0K | |
| Other Current Assets | $628.0K | $516.0K | $1M | $741.0K | $799.0K | $949.0K | $502.0K | |
| Current Assets | $99M | $52M | $4M | $5M | $21M | $11M | $19M | |
| PP&E (Net) | $131.0K | $179.0K | $87.0K | $222.0K | $375.0K | $374.0K | $470.0K | |
| PP&E (Gross) | $2M | $2M | $1M | $1M | $1M | $1M | $1M | |
| Accum. Depreciation | $1M | $1M | $1M | $1M | $1M | $796.0K | $670.0K | |
| Other Non-current Assets | $28.0K | $62.0K | $97.0K | $135.0K | $185.0K | · | · | |
| Total Assets | $100M | $52M | $4M | $6M | $21M | $12M | $19M | |
| Current Liabilities | $2M | $5M | $4M | $3M | $1M | $1M | $3M | |
| Capital Leases | $495.0K | $0 | $284.0K | $559.0K | $0 | $213.0K | · | |
| Total Liabilities | $2M | $5M | $4M | $3M | $1M | $1M | $3M | |
| Common Stock | $2.0K | $1.0K | $0 | $0 | $1.0K | $0 | $1.0K | |
| Retained Earnings | $-228M | $-190M | $-168M | $-148M | $-130M | $-117M | $-109M | |
| AOCI | $-839.0K | $-892.0K | $-830.0K | $-1M | $-1M | $-2M | $-2M | |
| Stockholders' Equity | $97M | $47M | $202.0K | $3M | $20M | $10M | $17M | |
| Liabilities + Equity | $100M | $52M | $4M | $6M | $21M | $12M | $19M | |
| Shares Outstanding | 26,250,469 | 10,086,119 | 1,671,485 | 480,688 | 8,171,690 | 1,108,374 | 856,765 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $66.0K | $87.0K | $136.0K | $167.0K | $231.0K | $190.0K | $158.0K | |
| Stock-based Comp | $17M | $830.0K | $452.0K | $870.0K | $634.0K | $237.0K | $672.0K | |
| Other Non-cash | $-3M | $1M | $962.0K | $1M | $185.0K | $312.0K | · | |
| Operating Cash Flow | $-24M | $-19M | $-18M | $-16M | $-13M | $-8M | $5M | |
| CapEx | $18.0K | $179.0K | $1.0K | $13.0K | $221.0K | $95.0K | $404.0K | |
| Investing Cash Flow | $-18.0K | $-179.0K | $-1.0K | $-13.0K | $-221.0K | $-94.0K | $-400.0K | |
| Stock Issued | · | · | $18M | · | $26M | $2M | · | |
| Net Stock Activity | · | · | $18M | · | $26M | $2M | · | |
| Financing Cash Flow | $70M | $68M | $16M | · | $23M | $2M | · | |
| Net Change in Cash | $47M | $48M | $-2M | $-16M | $10M | · | · | |
| Free Cash Flow | $-24M | $-20M | $-18M | $-16M | $-13M | $-8M | · |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | -25441.3% | -24457.5% | -23044.1% | -8118.6% | · | |
| Net Margin | · | · | -26082.7% | -24942.5% | -23528.8% | -8111.8% | · | |
| EBITDA Margin | · | · | -25260.0% | -24228.8% | -22652.5% | -7932.3% | · | |
| ROA | -50.0% | -76.8% | -374.9% | -133.1% | -84.2% | -53.7% | · | |
| ROE | -43.8% | -74.1% | -796.0% | -350.1% | -89.7% | -73.3% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 54.7 | 10.5 | 0.9 | 1.9 | 15.1 | 9.5 | · | |
| Quick Ratio | 54.2 | 10.3 | 0.6 | 1.6 | 14.4 | 8.6 | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | · | · | 2.7% | 23.7% | -42.2% | · | · | |
| Revenue CAGR 3Y | · | · | -9.7% | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | $75.0K | $73.0K | $59.0K | $102.0K | · | |
| Net Income TTM | $-38M | $-22M | $-20M | $-18M | $-14M | $-8M | · | |
| Market Cap | $307M | $12M | $7M | $161M | $590M | $149M | · | |
| P/E | -11.1 | -5.7 | -0.3 | -0.5 | -22.4 | · | · | |
| P/S | · | · | 89.2 | 2207.5 | 10006.9 | 1461.2 | · | |
| P/B | 3.2 | 0.2 | 33.1 | 55.9 | 29.5 | 14.6 | · | |
| P / Tangible Book | 3.2 | 0.2 | 33.1 | 55.9 | 29.5 | 14.6 | · | |
| P / Cash Flow | -13.0 | -0.6 | -0.4 | -10.1 | -46.0 | -19.8 | · | |
| P / FCF | -13.0 | -0.6 | -0.4 | -10.1 | -45.2 | -19.5 | · | |
| Earnings Yield | -9.0% | -17.4% | -347.5% | -192.1% | -4.5% | · | · |
Income Statement 12
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | $7.0K | $54.0K | $14.0K | $0 | $0 | |
| R&D Expense | $6M | $6M | $3M | $3M | $6M | $5M | $4M | $4M | $3M | $5M | $4M | $3M | $3M | $4M | $3M | $3M | |
| SG&A Expense | $7M | $8M | $6M | $7M | $9M | $5M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $2M | $2M | $2M | |
| Operating Expenses | $14M | $13M | $10M | $10M | $15M | $11M | $6M | $6M | $4M | $7M | $6M | $5M | $4M | $6M | $5M | $5M | |
| Operating Income | $-14M | $-13M | $-10M | $-10M | $-15M | $-11M | $-6M | $-6M | $-4M | $-7M | $-6M | $-5M | $-4M | $-6M | $-5M | $-5M | |
| Other Non-op | $-17.0K | $19.0K | $-84.0K | $-126.0K | $0 | $-40.0K | $35.0K | $-154.0K | $-16.0K | $-16.0K | $-18.0K | $-80.0K | $0 | $50.0K | $0 | $173.0K | |
| Net Income | $-12M | $-12M | $-9M | $-9M | $-15M | $-10M | $-5M | $-5M | $-4M | $-7M | $-6M | $-5M | $-4M | $-5M | $-5M | $-5M | |
| EPS (Basic) | $-0.24 | $-0.26 | $-0.22 | $-0.21 | $-0.38 | $-0.26 | $-0.18 | $4.70 | $-0.23 | $-2.64 | $-3.05 | $-0.13 | $-2.67 | $-3.34 | $-7.98 | $-36.27 | |
| EPS (Diluted) | $-0.24 | $-0.26 | $-0.22 | $-0.21 | $-0.38 | $-0.26 | $-0.18 | $4.70 | $-0.23 | $-2.64 | $-3.05 | $-0.13 | $-2.67 | $-3.34 | $-7.98 | $-36.27 | |
| Shares (Basic) | 49,386,203 | 45,970,516 | 41,521,280 | 41,161,259 | 38,599,453 | 37,254,839 | 27,883,624 | -4,650,922 | 18,281,896 | 2,576,347 | 2,157,065 | -2,519,985 | 1,645,951 | 1,621,280 | 638,572 | -24,034,382 | |
| Shares (Diluted) | 49,386,203 | 45,970,516 | 41,521,280 | 41,161,259 | 38,599,453 | 37,254,839 | 27,883,624 | -4,650,922 | 18,281,896 | 2,576,347 | 2,157,065 | -2,519,985 | 1,645,951 | 1,621,280 | 638,572 | -24,034,382 | |
| EBITDA | $-14M | $-13M | $-10M | · | $-10M | $-9M | $-6M | · | $-4M | $-7M | $-6M | · | $-4M | $-6M | $-5M | · |
Balance Sheet 18
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $185M | $189M | $94M | $98M | $104M | $78M | $68M | $51M | $14M | $20M | $26M | $2M | $7M | $11M | $17M | $4M | |
| Prepaid Expense | $1M | $562.0K | $480.0K | $628.0K | $361.0K | $366.0K | $426.0K | $516.0K | $157.0K | $355.0K | $482.0K | $1M | $774.0K | $356.0K | $531.0K | $741.0K | |
| Other Current Assets | $1M | $562.0K | $480.0K | $628.0K | $361.0K | $366.0K | $426.0K | $516.0K | $157.0K | $355.0K | $482.0K | $1M | $774.0K | $356.0K | $531.0K | $741.0K | |
| Current Assets | $186M | $190M | $95M | $99M | $104M | $79M | $68M | $52M | $14M | $21M | $26M | $4M | $7M | $11M | $17M | $5M | |
| PP&E (Net) | $116.0K | $115.0K | $118.0K | $131.0K | $145.0K | $151.0K | $154.0K | $179.0K | $204.0K | $51.0K | $68.0K | $87.0K | $106.0K | $139.0K | $179.0K | $222.0K | |
| PP&E (Gross) | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Accum. Depreciation | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Other Non-current Assets | $12.0K | $11.0K | $20.0K | $28.0K | $35.0K | $42.0K | $56.0K | $62.0K | $69.0K | $81.0K | $85.0K | $97.0K | $105.0K | $116.0K | $119.0K | $135.0K | |
| Total Assets | $187M | $191M | $96M | $100M | $105M | $79M | $69M | $52M | $15M | $21M | $27M | $4M | $8M | $12M | $18M | $6M | |
| Current Liabilities | $3M | $3M | $2M | $2M | $7M | $3M | $5M | $5M | $3M | $6M | $5M | $4M | $3M | $2M | $3M | $3M | |
| Capital Leases | $394.0K | $519.0K | $403.0K | $495.0K | $613.0K | $0 | $0 | $0 | $62.0K | $137.0K | $211.0K | $284.0K | $354.0K | $422.0K | $491.0K | $559.0K | |
| Total Liabilities | $4M | $3M | $2M | $2M | $8M | $3M | $5M | $5M | $3M | $6M | $5M | $4M | $4M | $3M | $4M | $3M | |
| Common Stock | $3.0K | $3.0K | $2.0K | $2.0K | $2.0K | $2.0K | $1.0K | $1.0K | $0 | $0 | $0 | $0 | $3.0K | $3.0K | $3.0K | $0 | |
| Retained Earnings | $-261M | $-249M | $-237M | $-228M | $-212M | $-203M | $-195M | $-190M | $-185M | $-181M | $-174M | $-168M | $-163M | $-159M | $-153M | $-148M | |
| AOCI | $-952.0K | $-883.0K | $-750.0K | $-839.0K | $-716.0K | $-688.0K | $-993.0K | $-892.0K | $-835.0K | $-952.0K | $-780.0K | $-830.0K | $-853.0K | $-898.0K | $-738.0K | $-1M | |
| Stockholders' Equity | $183M | $187M | $94M | $97M | $98M | $76M | $64M | $47M | $12M | $15M | $22M | $202.0K | $5M | $9M | $15M | $3M | |
| Liabilities + Equity | $187M | $191M | $96M | $100M | $105M | $79M | $69M | $52M | $15M | $21M | $27M | $4M | $8M | $12M | $18M | $6M | |
| Shares Outstanding | 34,354,334 | 34,254,907 | 26,250,469 | 26,250,469 | 25,546,288 | 23,451,475 | 17,893,765 | 10,086,119 | 2,724,794 | 2,592,434 | 2,547,434 | 1,671,485 | 27,981,161 | 27,981,161 | 25,809,533 | 480,688 |
Cash Flow 9
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $14.0K | $14.0K | $13.0K | $14.0K | $13.0K | $14.0K | $25.0K | $26.0K | $25.0K | $17.0K | $19.0K | $21.0K | $32.0K | $41.0K | $42.0K | $6.0K | |
| Stock-based Comp | $8M | $7M | $5M | $13M | $3M | $3M | $435.0K | $454.0K | $192.0K | $93.0K | $91.0K | $127.0K | $71.0K | $-48.0K | $302.0K | $168.0K | |
| Other Non-cash | · | · | $421.0K | · | · | · | $13.0K | · | · | · | $1M | · | · | · | $704.0K | · | |
| Operating Cash Flow | $-4M | $-4M | $-3M | $-8M | $-3M | $-8M | $-5M | $-3M | $-6M | $-5M | $-5M | $-4M | $-4M | $-6M | $-4M | $-5M | |
| CapEx | $15.0K | · | · | $0 | $6.0K | · | · | $0 | · | · | · | $1.0K | · | · | · | $13.0K | |
| Investing Cash Flow | $-15.0K | $-11.0K | $0 | $0 | $-6.0K | $-12.0K | $0 | $0 | $-179.0K | $0 | $0 | · | · | $0 | $0 | $-13.0K | |
| Stock Issued | $0 | · | · | · | $30M | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $506.0K | $98M | $0 | $3M | $28M | $18M | $22M | $40M | $0 | $39.0K | $28M | $0 | $0 | $0 | $16M | · | |
| Net Change in Cash | $-4M | $94M | $-3M | $-6M | $25M | $10M | $17M | $37M | $-6M | $-5M | $23M | $-4M | $-4M | $-6M | $12M | $-5M |
Profitability 5
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | · | · | · | · | · | · | · | -8038.9% | -40071.4% | · | · | |
| Net Margin | · | · | · | · | · | · | · | · | · | · | · | · | -8142.6% | -38650.0% | · | · | |
| EBITDA Margin | · | · | · | · | · | · | · | · | · | · | · | · | -7979.6% | -39778.6% | · | · | |
| ROA | -8.2% | -8.8% | -10.9% | · | -15.6% | -14.6% | -10.6% | · | -36.9% | -40.9% | -26.4% | · | -48.1% | -41.8% | -28.3% | · | |
| ROE | -8.5% | -9.0% | -11.4% | · | -17.2% | -16.1% | -11.7% | · | -52.8% | -55.6% | -32.2% | · | -71.9% | -54.6% | -33.9% | · |
Liquidity & Solvency 2
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 56.8 | 67.7 | 47.0 | · | 14.8 | 25.5 | 15.0 | · | 4.2 | 3.6 | 5.8 | · | 2.3 | 4.4 | 5.7 | · | |
| Quick Ratio | 56.4 | 67.4 | 46.7 | · | 14.7 | 25.3 | 14.9 | · | 4.1 | 3.5 | 5.7 | · | 2.1 | 4.2 | 5.5 | · |
Efficiency 1
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · |
Valuation (TTM) 9
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $54.0K | $68.0K | $68.0K | · | $116.0K | $87.0K | $73.0K | · | |
| Net Income TTM | $-42M | $-39M | $-37M | · | $-28M | $-26M | $-22M | · | $-21M | $-23M | $-21M | · | $-18M | $-19M | $-18M | · | |
| Market Cap | $366M | $461M | $368M | · | $332M | $296M | $164M | · | $14M | $8M | $8M | · | $100M | $81M | $163M | · | |
| P/E | -11.5 | -14.5 | -15.1 | · | -14.3 | -3.8 | -1.5 | · | -0.6 | -0.3 | -0.2 | · | -0.2 | -0.2 | -0.7 | · | |
| P/S | · | · | · | · | · | · | · | · | 264.9 | 123.1 | 113.2 | · | 861.1 | 929.5 | 2235.9 | · | |
| P/B | 2.0 | 2.5 | 3.9 | · | 3.4 | 3.9 | 2.6 | · | 1.2 | 0.5 | 0.3 | · | 21.2 | 9.0 | 11.2 | · | |
| P / Tangible Book | 2.0 | 2.5 | 3.9 | · | 3.4 | 3.9 | 2.6 | · | 1.2 | 0.5 | 0.3 | · | 21.2 | 9.0 | 11.2 | · | |
| P / Cash Flow | · | · | -109.9 | · | · | · | -35.9 | · | · | · | -1.7 | · | · | · | -40.4 | · | |
| Earnings Yield | -8.7% | -6.9% | -6.6% | · | -7.0% | -26.2% | -66.4% | · | -163.6% | -362.2% | -563.9% | · | -403.1% | -425.9% | -151.6% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | |
|---|---|---|---|---|---|
| Revenue | — | $0 | $75.0K | $73.0K | $59.0K |
| Operating Margin % | — | — | -25441.3% | -24457.5% | -23044.1% |
| Net Income | $-38M | $-22M | $-20M | $-18M | $-14M |
| Diluted EPS | $-1.05 | $-1.22 | $-14.12 | $-37.88 | $-3.23 |
Balance Sheet
| 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | |
|---|---|---|---|---|---|
| Current Ratio | 54.7 | 10.5 | 0.9 | 1.9 | 15.1 |
| Quick Ratio | 54.2 | 10.3 | 0.6 | 1.6 | 14.4 |
Cash Flow
| 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-24M | $-20M | $-18M | $-16M | $-13M |
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Institutional owners (13F) 91 filers · $426.8M 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 |
|---|---|---|---|---|
| 17 (-5 vs prior Q) | 10 (+1 vs prior Q) | 30 (-2 vs prior Q) | 21 (+7 vs prior Q) | +1.9M |
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 |
|---|---|---|---|---|
| MONTANOVA CAPITAL, LLC | $154,516,936 | 11,548,351 | 36.20% | Shares |
| FRANKLIN RESOURCES INC | $32,284,447 | 2,412,888 | 7.56% | Shares |
| JANUS HENDERSON GROUP PLC | $30,719,738 | 2,876,380 | 7.20% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $28,374,591 | 2,120,672 | 6.65% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $24,753,000 | 1,850,000 | 5.80% | Shares |
| Nantahala Capital Management, LLC | $19,914,404 | 1,488,371 | 4.67% | Shares |
| VANGUARD GROUP INC | $13,585,748 | 1,008,593 | 3.18% | Shares |
| Simplify Asset Management Inc. | $13,454,353 | 1,005,557 | 3.15% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $12,771,652 | 954,533 | 2.99% | Shares |
| INFINITUM ASSET MANAGEMENT, LLC | $12,349,820 | 923,006 | 2.89% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,326,981 | 921,299 | 2.89% | Shares |
| Alyeska Investment Group, L.P. | $10,035,000 | 750,000 | 2.35% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $9,096,072 | 679,826 | 2.13% | Shares |
| Balyasny Asset Management L.P. | $8,703,730 | 650,503 | 2.04% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,992,588 | 522,482 | 1.64% | Shares |
| AMERIPRISE FINANCIAL INC | $5,368,658 | 401,245 | 1.26% | Shares |
| STATE STREET CORP | $5,057,279 | 377,973 | 1.18% | Shares |
| MYDA Advisors LLC | $3,345,000 | 250,000 | 0.78% | Shares |
| Schonfeld Strategic Advisors LLC | $3,149,076 | 235,357 | 0.74% | Shares |
| AWM Investment Company, Inc. | $2,515,132 | 187,977 | 0.59% | Shares |
| GOLDMAN SACHS GROUP INC | $2,207,713 | 165,001 | 0.52% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,154,113 | 160,995 | 0.50% | Shares |
| Burkehill Global Management, LP | $2,007,000 | 150,000 | 0.47% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,920,164 | 143,510 | 0.45% | Shares |
| CITADEL ADVISORS LLC | $1,090,015 | 81,466 | 0.26% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $947,986 | 70,851 | 0.22% | Shares |
| Lion Point Capital, LP | $829,560 | 62,000 | 0.19% | Shares |
| Atom Investors LP | $650,148 | 48,591 | 0.15% | Shares |
| CANTOR FITZGERALD, L. P. | $624,297 | 46,659 | 0.15% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $603,518 | 45,106 | 0.14% | Shares |
| ADAR1 Capital Management, LLC | $535,200 | 40,000 | 0.13% | Shares |
| Nuveen, LLC | $379,176 | 28,339 | 0.09% | Shares |
| RHUMBLINE ADVISERS | $351,108 | 26,242 | 0.08% | Shares |
| Bank of New York Mellon Corp | $247,048 | 18,464 | 0.06% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $230,136 | 17,200 | 0.05% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $216,087 | 16,150 | 0.05% | Shares |
| BANK OF AMERICA CORP /DE/ | $213,692 | 15,971 | 0.05% | Shares |
| MetLife Investment Management, LLC | $206,373 | 15,424 | 0.05% | Shares |
| Quadrature Capital Ltd | $205,664 | 15,371 | 0.05% | Shares |
| EntryPoint Capital, LLC | $201,342 | 15,048 | 0.05% | Shares |
| Longaeva Partners L.P. | $199,014 | 14,874 | 0.05% | Shares |
| Russell Investments Group, Ltd. | $185,688 | 13,878 | 0.04% | Shares |
| Persistent Asset Partners Ltd | $167,156 | 12,493 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $115,871 | 8,660 | 0.03% | Shares |
| CITIGROUP INC | $115,349 | 8,621 | 0.03% | Shares |
| Invesco Ltd. | $111,950 | 8,367 | 0.03% | Shares |
| GAMMA Investing LLC | $106,518 | 7,961 | 0.02% | Shares |
| Police & Firemen's Retirement System of New Jersey | $91,064 | 6,806 | 0.02% | Shares |
| FMR LLC | $69,790 | 5,216 | 0.02% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $57,895 | 4,327 | 0.01% | Shares |
| Truvestments Capital LLC | $47,833 | 3,575 | 0.01% | Shares |
| BlackRock, Inc. | $45,974 | 3,436 | 0.01% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $45,251 | 3,382 | 0.01% | Shares |
| NORTHERN TRUST CORP | $44,783 | 3,347 | 0.01% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $38,802 | 2,900 | 0.01% | Shares |
| BARCLAYS PLC | $38,669 | 2,890 | 0.01% | Shares |
| Tower Research Capital LLC (TRC) | $35,751 | 2,672 | 0.01% | Shares |
| UBS Group AG | $35,203 | 2,631 | 0.01% | Shares |
| Legal & General Group Plc | $28,513 | 2,131 | 0.01% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $26,806 | 2,167 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $19,762 | 1,477 | 0.00% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $11,353 | 1,066 | 0.00% | Shares |
| MORGAN STANLEY | $10,838 | 810 | 0.00% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $9,540 | 713 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $9,000 | 636 | 0.00% | Shares |
| Rockefeller Capital Management L.P. | $7,787 | 582 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $5,499 | 411 | 0.00% | Shares |
| Sterling Capital Management LLC | $5,472 | 409 | 0.00% | Shares |
| Arax Advisory Partners | $3,332 | 249 | 0.00% | Shares |
| PNC Financial Services Group, Inc. | $3,131 | 234 | 0.00% | Shares |
| FIFTH THIRD BANCORP | $1,873 | 140 | 0.00% | Shares |
| US BANCORP \DE\ | $1,258 | 94 | 0.00% | Shares |
| GROUP ONE TRADING LLC | $1,191 | 89 | 0.00% | Shares |
| JPMORGAN CHASE & CO | $1,181 | 93 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $868 | 65 | 0.00% | Shares |
| CWM, LLC | $724 | 68 | 0.00% | Shares |
| Cornerstone Planning Group LLC | $526 | 46 | 0.00% | Shares |
| Allworth Financial LP | $509 | 38 | 0.00% | Shares |
| DEUTSCHE BANK AG\ | $361 | 27 | 0.00% | Shares |
| True Wealth Design, LLC | $308 | 23 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $263 | 20 | 0.00% | Shares |
| PRICE T ROWE ASSOCIATES INC /MD/ | $248 | 18,528 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $187 | 14 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $120 | 9 | 0.00% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $107 | 8 | 0.00% | Shares |
| Clearstead Advisors, LLC | $54 | 4 | 0.00% | Shares |
| Sunbelt Securities, Inc. | $43 | 4 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $40 | 3 | 0.00% | Shares |
| SJS Investment Consulting Inc. | $27 | 2 | 0.00% | Shares |
| Johnson Financial Group, Inc. | $14 | 1 | 0.00% | Shares |
| OSAIC HOLDINGS, INC. | $13 | 1 | 0.00% | Shares |
Company insiders 10 insiders · 3 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jerel A. Banks | Chief Executive Officer | Nov. 18, 2025 A | — | 0 | 0 | $0 |
| Megan Boston | Chief Financial Officer | Nov. 18, 2025 A | 25,907 | 0 | 0 | $0 |
| Sophie Mukadam | Chief Operating Officer | Nov. 18, 2025 A | — | 0 | 0 | $0 |
| Kevin J Buchi | Director | June 29, 2026 G | 52,097 | 0 | 0 | $0 |
| David Matthew Friedman | Director | May 26, 2026 A | — | 0 | 0 | $0 |
| Sharon Mates | Director | Jan. 22, 2026 A | — | 0 | 0 | $0 |
| Kishan Mehta | Director | Dec. 1, 2025 A | — | 0 | 0 | $0 |
| Peter Francis | Director | Dec. 1, 2025 A | — | 0 | 0 | $0 |
| Edward F Smith | Director | Dec. 1, 2025 A | — | 0 | 0 | $0 |
| Steven Michael Oliveira | 10% owner | Dec. 9, 2021 P | 1,000,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 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 |
|---|---|---|---|---|---|
| SUVRETTA CAPITAL MANAGEMENT, LLC, Averill Master Fund, Ltd., Averill Madison Master Fund, Ltd., Aaron Cowen ×2 filings | Nov. 10, 2025 | 44.10% | Amendment | — | SEC |
| Averill Master Fund, Ltd., Averill Madison Master Fund, Ltd., Suvretta Capital Management, LLC, Aaron Cowen ×3 filings | Nov. 18, 2024 | — | 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 18 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 |
|---|---|---|---|---|
| IBRN · iShares Trust | 0.45% | 2,641 SH | Aug. 8, 2026 | Daily |
| GNOM · Global X Funds | 0.38% | 18,350 NS | May 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.06% | 72,780 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 17,460 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 186,473 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 122,243 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.01% | 7,730 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 522,640 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 8,435 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 912 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 714 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 725 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.00% | 11,414 SH | Aug. 8, 2026 | Daily |
| HDG · ProShares Trust | 0.00% | 18 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 281,899 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 649,542 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 1,497 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,310 SH | Aug. 8, 2026 | Daily |