BRNS Barinthus Biotherapeutics plc - American Depositary Shares
$0.65
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$1–$2
11% of range
Analyst Rating
BUY
8 analysts
Price Target
$5
+668% upside
P/E (TTM)
-0.4
ROE
-65.0%
Net Profit Margin
—
BRNS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.65
Market Cap
$27M
P/E (TTM)
-0.4
EPS (TTM)
$-1.64
Revenue (TTM)
$0
Div Yield
—
ROE
-65.0%
Debt/Equity
—
52W Range
$1 – $2
BRNS 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
2020-12-31
→
2025-12-31
EPS
$-1.64
2020-12-31
→
2025-12-31
Free Cash Flow
$-48M
2021-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BRNS
Peer Median
P/E (TTM)
-0.4
—
P/B
0.4
4.4
Price / FCF
-0.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BRNS
Peer Median
ROA
-51.4%
-38.9%
ROE
-65.0%
-49.6%
ROIC
-94.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BRNS
Peer Median
Current Ratio
7.8
10.5
Quick Ratio
7.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BRNS
Peer Median
Revenue YoY
1766.5%
—
Revenue CAGR 3Y
282.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BRNS
Peer Median
BRNS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
8 analysts
- Strong Buy 2 25.0%
- Buy 5 62.5%
- Hold 1 12.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
2 analysts · 2026-08-15
Median
$5.00
← Below all targets
$0.65
Low
$4.00
High
$6.00
Median target
$5.00
+668.3%
Mean target
$5.00
+668.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.26 | $-0.29 | 0.03% |
| March 31, 2026 | $-0.14 | $-0.29 | 0.15% |
| Dec. 31, 2025 | $-0.27 | $-0.35 | 0.08% |
| Sept. 30, 2025 | $-0.24 | $-0.40 | 0.16% |
| June 30, 2025 | $-0.52 | $-0.34 | -0.18% |
| March 31, 2025 | $-0.49 | $-0.37 | -0.12% |
| Dec. 31, 2024 | $-0.51 | $-0.42 | -0.09% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BRNS | $29M | -0.4 | 1766.5% | — | -65.0% | — |
| MREO | $332M | -8.3 | — | -8375.6% | -88.1% | — |
| ROIV | $19.95B | -51.3 | -71.6% | -3629.2% | -6.5% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $15M | $802.0K | $45M | $268.0K | $5M | |
| R&D Expense | $26M | $42M | $45M | $42M | $20M | $14M | |
| SG&A Expense | $41M | $30M | $40M | $6M | $25M | $10M | |
| Operating Expenses | $71M | $84M | $85M | $49M | $45M | $25M | |
| Operating Income | $-71M | $-68M | $-84M | $-4M | $-45M | $-20M | |
| Interest Expense | · | · | $28.0K | $19.0K | $3M | $4M | |
| Interest Income | $2M | $3M | $3M | $3M | $2.0K | $0 | |
| Other Non-op | $16.0K | $135.0K | $1M | $567.0K | $332.0K | $42.0K | |
| Pretax Income | $-67M | $-61M | $-77M | $850.0K | $-51M | · | |
| Income Tax | $-175.0K | $-44.0K | $-3M | $-4M | $-28.0K | $95.0K | |
| Net Income | $-66M | $-61M | $-73M | $5M | $-51M | $-18M | |
| EPS (Basic) | $-1.64 | $-1.55 | $-1.91 | $0.14 | $-1.96 | $-2.24 | |
| EPS (Diluted) | $-1.64 | $-1.55 | $-1.91 | $0.14 | $-1.96 | $-2.24 | |
| Shares (Basic) | 40,527,218 | 39,348,240 | 38,386,491 | 37,248,126 | 25,894,375 | 7,904,529 | |
| Shares (Diluted) | 40,527,218 | 39,348,240 | 38,386,491 | 38,169,307 | 25,894,375 | 7,904,529 | |
| EBITDA | $-65M | $-62M | $-78M | $282.0K | $-45M | · |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $70M | $111M | $142M | $194M | $214M | $43M | |
| Receivables | · | · | · | $323.0K | $20.0K | $518.0K | |
| Prepaid Expense | $5M | $6M | $10M | $8M | $6M | $1M | |
| Other Current Assets | $115.0K | $344.0K | $1M | $611.0K | $995.0K | $29.0K | |
| Current Assets | $78M | $126M | $157M | $213M | $227M | $48M | |
| PP&E (Net) | $4M | $7M | $12M | $8M | $2M | $629.0K | |
| PP&E (Gross) | $11M | $17M | $16M | $9M | $3M | $1M | |
| Accum. Depreciation | $8M | $9M | $4M | $1M | $886.0K | $479.0K | |
| Goodwill | · | $0 | $12M | $12M | $13M | · | |
| Intangibles | $14M | $22M | $25M | $28M | $31M | · | |
| Total Assets | $98M | $160M | $215M | $270M | $281M | $51M | |
| Accounts Payable | $350.0K | $2M | $2M | $4M | $2M | $5M | |
| Current Liabilities | $10M | $16M | $13M | $12M | $11M | $8M | |
| Capital Leases | $9M | $10M | $11M | $8M | $7M | $1M | |
| Deferred Tax | $254.0K | $438.0K | $574.0K | $13M | $12M | $2M | |
| Other Non-current Liabilities | $1M | $1M | $1M | $965.0K | · | · | |
| Total Liabilities | $24M | $30M | $28M | $27M | $28M | $54M | |
| Common Stock | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $0 | |
| Paid-in Capital | $394M | $393M | $387M | $380M | $369M | $22M | |
| Retained Earnings | $-304M | $-238M | $-177M | $-103M | $-109M | $-58M | |
| Stockholders' Equity | $74M | $130M | $187M | $243M | $252M | $-37M | |
| Liabilities + Equity | $98M | $160M | $215M | $270M | $281M | $51M | |
| Shares Outstanding | 40,848,893 | 40,234,663 | 38,643,540 | 37,683,531 | 37,188,730 | 7,960,458 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $6M | $6M | $5M | $4M | $602.0K | $208.0K | |
| Stock-based Comp | $468.0K | $5M | $5M | $10M | $16M | $4M | |
| Deferred Tax | $-175.0K | $-44.0K | $-3M | $-4M | $-119.0K | · | |
| Amort. of Intangibles | $3M | $3M | $3M | $3M | $200.0K | $0 | |
| Other Non-cash | $12M | $22M | $15M | $-30M | $1M | · | |
| Operating Cash Flow | $-48M | $-29M | $-51M | $-14M | $-33M | $-11M | |
| CapEx | $37.0K | $892.0K | $5M | $6M | $1M | $293.0K | |
| Investing Cash Flow | $416.0K | $-892.0K | $-5M | $-6M | $-13M | $-293.0K | |
| Stock Issued | $0 | $2M | $2M | $484.0K | $103M | · | |
| Net Stock Activity | $0 | $2M | $2M | $484.0K | $103M | · | |
| Financing Cash Flow | $2.0K | $2M | $2M | $325.0K | $223M | $41M | |
| Net Change in Cash | $-41M | $-30M | $-52M | $-20M | $171M | $32M | |
| Taxes Paid | · | · | $0 | $0 | $152.0K | · | |
| Free Cash Flow | $-48M | $-30M | $-56M | $-21M | $-34M | · | |
| Levered FCF | · | · | $-56M | $-21M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | · | -454.1% | -10463.1% | -9.0% | -16873.5% | · | |
| Net Margin | · | -408.0% | -9145.5% | 11.9% | -18979.5% | · | |
| Pretax Margin | · | -409.0% | -9541.4% | 1.9% | · | · | |
| EBITDA Margin | · | -415.3% | -9786.2% | 0.63% | -16648.9% | · | |
| ROA | -51.4% | -32.6% | -30.3% | 1.9% | -30.7% | · | |
| ROE | -65.0% | -38.6% | -34.1% | 2.2% | -20.2% | · | |
| ROIC | -94.8% | -52.2% | -43.1% | -10.4% | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 7.8 | 8.0 | 12.5 | 17.4 | 20.3 | · | |
| Quick Ratio | 7.0 | 7.1 | 11.3 | 15.9 | 19.2 | · | |
| Interest Coverage | · | · | -2996.9 | -212.7 | -16.9 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | 0.0 | 0.2 | 0.0 | · | |
| Receivables Turnover | · | · | · | 260.7 | 1.0 | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | · | 1766.5% | -98.2% | 16580.2% | -94.4% | · | |
| Revenue CAGR 3Y | · | 282.2% | -45.0% | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $15M | $802.0K | $45M | $268.0K | · | |
| Net Income TTM | $-66M | $-61M | $-73M | $5M | $-51M | · | |
| Market Cap | $29M | $49M | $143M | $89M | $413M | · | |
| P/E | -0.4 | -0.8 | -1.9 | 16.8 | -5.7 | · | |
| P/S | · | 3.2 | 177.8 | 2.0 | 1541.7 | · | |
| P/B | 0.4 | 0.4 | 0.8 | 0.4 | 1.6 | · | |
| P / Tangible Book | 0.5 | 0.4 | 1.0 | 0.4 | 2.0 | · | |
| P / Cash Flow | -0.6 | -1.7 | -2.8 | -6.1 | -12.7 | · | |
| P / FCF | -0.6 | -1.6 | -2.5 | -4.3 | -12.2 | · | |
| Earnings Yield | -234.3% | -128.3% | -51.8% | 6.0% | -17.6% | · |
Income Statement 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $0 | $0 | · | · | $0 | $15M | $0 | $0 | $0 | $0 | $334.0K | $468.0K | $6M | $6M | |
| R&D Expense | $4M | $4M | $4M | $5M | $8M | $8M | $8M | $11M | $12M | $11M | $6M | $15M | $14M | $10M | $12M | $10M | |
| SG&A Expense | $7M | $3M | $8M | $5M | $15M | $13M | $3M | $13M | $7M | $6M | $14M | $961.0K | $13M | $12M | · | · | |
| Operating Expenses | $11M | $6M | $12M | $15M | $23M | $21M | $24M | $25M | $19M | $17M | $20M | $16M | $27M | $22M | $32M | $-1M | |
| Operating Income | $-11M | $-6M | $-12M | $-15M | $-23M | $-21M | $-23M | $-9M | $-18M | $-17M | $-20M | $-16M | $-26M | $-21M | $-25M | $7M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $12.0K | · | $7.0K | $14.0K | $0 | · | · | |
| Interest Income | $343.0K | $350.0K | $406.0K | $472.0K | $523.0K | $556.0K | $637.0K | $631.0K | $635.0K | $775.0K | $571.0K | $196.0K | $522.0K | $2M | $1M | $1M | |
| Other Non-op | $26.0K | $39.0K | $-104.0K | $-275.0K | $320.0K | $75.0K | $89.0K | $26.0K | $20.0K | $0 | $-2M | $-2.0K | $310.0K | $3M | $516.0K | $0 | |
| Pretax Income | $-11M | $-6M | $-11M | $-15M | $-21M | $-20M | $-21M | $-8M | $-17M | $-16M | $-18M | $-15M | $-25M | $-19M | $-23M | $8M | |
| Income Tax | $-23.0K | $-16.0K | $-57.0K | $-71.0K | $-25.0K | $-22.0K | $3.0K | $-3.0K | $-7.0K | $-37.0K | $-820.0K | $-603.0K | $-1M | $-516.0K | $-2M | $-674.0K | |
| Net Income | $-11M | $-6M | $-11M | $-15M | $-21M | $-20M | $-21M | $-8M | $-17M | $-15M | $-17M | $-14M | $-24M | $-18M | $-21M | $8M | |
| EPS (Basic) | $-0.26 | $-0.14 | $-0.27 | $-0.36 | $-0.52 | $-0.49 | $-0.51 | $-0.21 | $-0.43 | $-0.40 | $-0.44 | $-0.37 | $-0.62 | $-0.48 | $-0.57 | $0.22 | |
| EPS (Diluted) | $-0.26 | $-0.14 | $-0.27 | $-0.36 | $-0.52 | $-0.49 | $-0.51 | $-0.21 | $-0.43 | $-0.40 | $-0.44 | $-0.37 | $-0.62 | $-0.48 | $-0.56 | $0.22 | |
| Shares (Basic) | 40,848,893 | 40,848,893 | -80,742,637 | 40,661,118 | 40,343,521 | 40,265,216 | -77,885,800 | 39,419,447 | 39,041,111 | 38,773,482 | -76,568,413 | 38,533,833 | 38,407,672 | 38,013,399 | -74,392,619 | 37,247,123 | |
| Shares (Diluted) | 40,848,893 | 40,848,893 | -80,742,637 | 40,661,118 | 40,343,521 | 40,265,216 | -77,885,800 | 39,419,447 | 39,041,111 | 38,773,482 | -76,568,413 | 38,533,833 | 38,407,672 | 38,013,399 | -76,508,351 | 38,156,564 | |
| EBITDA | $-11M | $-5M | · | $-15M | $-23M | $-19M | · | $-9M | $-18M | $-15M | · | $-16M | $-26M | $-20M | · | $8M |
Balance Sheet 23
| 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 | $59M | $66M | $70M | $74M | $86M | $99M | $111M | · | · | · | $142M | $160M | $173M | $191M | $194M | $200M | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | · | · | $172.0K | · | $26.0K | |
| Prepaid Expense | $2M | $4M | $5M | $6M | $8M | $6M | $6M | $8M | $10M | $8M | $10M | $7M | $8M | $6M | $8M | $8M | |
| Other Current Assets | $151.0K | $194.0K | $115.0K | $663.0K | $854.0K | $435.0K | $344.0K | $464.0K | $626.0K | $2M | $1M | $355.0K | $1M | $549.0K | $611.0K | $130.0K | |
| Current Assets | $63M | $73M | $78M | $87M | $100M | $110M | $126M | $135M | $132M | $143M | $157M | $171M | $185M | $201M | $213M | $219M | |
| PP&E (Net) | $3M | $3M | $4M | $5M | $5M | $6M | $7M | $11M | $11M | $12M | $12M | $12M | $14M | $13M | $8M | $7M | |
| PP&E (Gross) | · | · | $11M | · | · | · | $17M | · | · | · | $16M | · | · | · | $9M | · | |
| Accum. Depreciation | · | · | $8M | · | · | · | $9M | · | · | · | $4M | · | · | · | $1M | · | |
| Goodwill | · | · | · | · | · | · | · | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $13M | |
| Intangibles | $13M | $14M | $14M | $15M | $20M | $21M | $22M | $23M | $24M | $24M | $25M | $26M | $27M | $27M | $28M | $29M | |
| Total Assets | $82M | $92M | $98M | $109M | $130M | $142M | $160M | $189M | $187M | $199M | $215M | $230M | $246M | $262M | $270M | $275M | |
| Accounts Payable | $535.0K | $993.0K | $350.0K | $698.0K | $2M | $1M | $2M | $3M | $3M | $1M | $2M | $5M | $2M | $4M | $4M | $2M | |
| Current Liabilities | $11M | $12M | $10M | $11M | $13M | $12M | $16M | $15M | $16M | $13M | $13M | $19M | $12M | $12M | $12M | $14M | |
| Capital Leases | $9M | $9M | $9M | $10M | $10M | $10M | $10M | $11M | $11M | $11M | $11M | $11M | $11M | $10M | $8M | $8M | |
| Deferred Tax | $215.0K | $237.0K | $254.0K | $320.0K | $391.0K | $416.0K | $438.0K | $457.0K | · | · | $574.0K | · | · | · | $13M | · | |
| Other Non-current Liabilities | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $965.0K | $711.0K | |
| Total Liabilities | $25M | $26M | $24M | $25M | $27M | $26M | $30M | $29M | $30M | $27M | $28M | $34M | $29M | $28M | $27M | $31M | |
| Common Stock | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | |
| Paid-in Capital | $395M | $394M | $394M | $393M | $394M | $394M | $393M | $392M | $390M | $389M | $387M | $386M | $386M | $384M | $380M | $377M | |
| Retained Earnings | $-320M | $-310M | $-304M | $-293M | $-278M | $-257M | $-238M | $-217M | $-209M | $-192M | $-177M | $-159M | $-145M | $-121M | $-103M | $-82M | |
| Stockholders' Equity | $57M | $66M | $74M | $84M | $102M | $115M | $130M | $159M | $157M | $172M | $187M | $195M | $217M | $233M | $243M | $244M | |
| Liabilities + Equity | $82M | $92M | $98M | $109M | $130M | $142M | $160M | $189M | $187M | $199M | $215M | $230M | $246M | $262M | $270M | $275M | |
| Shares Outstanding | 40,848,893 | 40,848,893 | 40,848,893 | 40,827,263 | 40,348,665 | 40,339,395 | 40,234,663 | 39,542,518 | 39,184,338 | 38,952,956 | 38,643,540 | 38,546,594 | 38,524,059 | 38,357,025 | 37,683,531 | 37,291,492 |
Cash Flow 15
| 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 | $820.0K | $856.0K | $909.0K | $901.0K | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Stock-based Comp | $433.0K | $556.0K | $696.0K | $-415.0K | $-281.0K | $468.0K | $755.0K | $1M | $1M | $2M | $786.0K | $57.0K | $2M | $2M | $2M | $1M | |
| Deferred Tax | $-23.0K | $-16.0K | $-57.0K | $-71.0K | $-25.0K | $-22.0K | $3.0K | $-3.0K | $-7.0K | $-37.0K | $-821.0K | $-602.0K | $-1M | $-516.0K | $-2M | $-625.0K | |
| Amort. of Intangibles | $600.0K | $600.0K | $600.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | |
| Other Non-cash | · | $769.0K | · | · | · | $2M | · | · | · | $659.0K | · | · | · | $12M | · | · | |
| Operating Cash Flow | $-8M | $-3M | $-4M | $-11M | $-18M | $-15M | $13M | $-18M | $-12M | $-12M | $-20M | $-11M | $-17M | $-3M | $-11M | $12M | |
| CapEx | $0 | $0 | $0 | $0 | $32.0K | $5.0K | $278.0K | $114.0K | $192.0K | $308.0K | $-153.0K | $36.0K | $3M | $3M | $586.0K | $2M | |
| Investing Cash Flow | $61.0K | $55.0K | $2.0K | $451.0K | $-32.0K | $-5.0K | $-278.0K | $-114.0K | $-192.0K | $-308.0K | $153.0K | $-36.0K | $-3M | $-3M | $-586.0K | $-2M | |
| Stock Issued | · | · | $0 | $0 | $0 | $0 | $837.0K | $465.0K | $358.0K | $503.0K | $109.0K | $46.0K | $91.0K | $2M | · | · | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | $503.0K | · | · | · | $2M | · | · | |
| Financing Cash Flow | $0 | $0 | $0 | $0 | $0 | $2.0K | $837.0K | $465.0K | $358.0K | $503.0K | $109.0K | $46.0K | $28.0K | $2M | $484.0K | $0 | |
| Net Change in Cash | $-8M | $-5M | $-4M | $-12M | $-13M | $-12M | $6M | $-12M | $-12M | $-12M | $-18M | $-13M | $-18M | $-3M | $-6M | $8M | |
| Taxes Paid | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $0 | $0 | · | |
| Free Cash Flow | · | $-3M | · | · | · | $-15M | · | · | · | $-12M | · | · | · | $-6M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-12M | · | · | · | · | · | · |
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 | · | · | · | · | · | · | · | -62.7% | · | · | · | 230071.4% | -7885.3% | -4590.6% | · | 122.5% | |
| Net Margin | · | · | · | · | · | · | · | -54.2% | · | · | · | 201028.6% | -7126.3% | -3884.6% | · | 133.7% | |
| Pretax Margin | · | · | · | · | · | · | · | -54.3% | · | · | · | 210185.7% | -7473.1% | -4004.1% | · | · | |
| EBITDA Margin | · | · | · | · | · | · | · | -62.7% | · | · | · | 230071.4% | -7885.3% | -4329.7% | · | 122.5% | |
| ROA | -10.0% | -4.7% | · | -9.8% | -13.4% | -11.5% | · | -3.9% | -7.8% | -6.7% | · | -5.6% | -9.0% | -6.6% | · | 3.1% | |
| ROE | -13.3% | -6.1% | · | -11.9% | -16.3% | -13.7% | · | -4.6% | -9.1% | -7.6% | · | -6.4% | -10.1% | -7.5% | · | 3.4% | |
| ROIC | -19.3% | -9.1% | · | -17.8% | -22.8% | -17.8% | · | -5.9% | -11.7% | -9.8% | · | -7.9% | -11.6% | -9.0% | · | · |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.5 | 6.1 | · | 8.0 | 7.9 | 9.2 | · | 8.9 | 8.5 | 11.2 | · | 9.2 | 15.3 | 16.7 | · | 15.6 | |
| Quick Ratio | 5.2 | 5.5 | · | 6.9 | 6.8 | 8.3 | · | · | · | · | · | 8.6 | 14.3 | 16.0 | · | 14.3 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -1409.5 | · | · | · | · | · | · |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | · | · | · | 0.1 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | · | · | 0.1 | · | 181.3 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | · | · | · | · | $15M | $15M | · | $15M | $334.0K | $802.0K | · | $7M | $24M | $39M | · | $38M | |
| Net Income TTM | $-52M | $-61M | · | $-63M | $-66M | $-60M | · | $-55M | $-70M | $-72M | · | $-48M | $-18M | $8M | · | $22M | |
| Market Cap | $27M | $23M | · | $51M | $38M | $39M | · | $47M | $55M | $93M | · | $119M | $79M | $86M | · | $119M | |
| P/E | -0.5 | -0.4 | · | -0.8 | -0.6 | -0.6 | · | -0.8 | -0.8 | -1.3 | · | -2.5 | -4.4 | 10.3 | · | 5.6 | |
| P/S | · | · | · | · | 2.5 | 2.6 | · | 3.1 | 164.2 | 115.6 | · | 17.1 | 3.3 | 2.2 | · | 3.1 | |
| P/B | 0.5 | 0.4 | · | 0.6 | 0.4 | 0.3 | · | 0.3 | 0.4 | 0.5 | · | 0.6 | 0.4 | 0.4 | · | 0.5 | |
| P / Tangible Book | 0.6 | 0.4 | · | 0.7 | 0.5 | 0.4 | · | 0.4 | 0.5 | 0.7 | · | 0.8 | 0.4 | 0.4 | · | 0.6 | |
| P / Cash Flow | · | -6.9 | · | · | · | -2.6 | · | · | · | -7.8 | · | · | · | -27.1 | · | · | |
| P / FCF | · | -6.9 | · | · | · | -2.6 | · | · | · | -7.6 | · | · | · | -15.1 | · | · | |
| Earnings Yield | -193.9% | -265.4% | · | -126.4% | -177.4% | -157.2% | · | -118.5% | -130.0% | -78.6% | · | -40.5% | -22.8% | 9.7% | · | 17.8% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $0 | $15M | $802.0K | $45M | $268.0K |
| Operating Margin % | — | -454.1% | -10463.1% | -9.0% | -16873.5% |
| Net Income | $-66M | $-61M | $-73M | $5M | $-51M |
| Diluted EPS | $-1.64 | $-1.55 | $-1.91 | $0.14 | $-1.96 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 7.8 | 8.0 | 12.5 | 17.4 | 20.3 |
| Quick Ratio | 7.0 | 7.1 | 11.3 | 15.9 | 19.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-48M | $-30M | $-56M | $-21M | $-34M |
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Institutional owners (13F) 15 filers · $7.8M 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 |
|---|---|---|---|---|
| 3 (+1 vs prior Q) | 2 (+1 vs prior Q) | 2 (-1 vs prior Q) | 2 (+2 vs prior Q) | -92K |
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 |
|---|---|---|---|---|
| M&G PLC | $5,197,349 | 5,197,349 | 66.28% | Shares |
| HSG Holding Ltd | $937,512 | 1,420,473 | 11.96% | Shares |
| GLR Partners, LLC | $820,629 | 1,243,377 | 10.47% | Shares |
| DC Funds, LP | $423,855 | 642,204 | 5.41% | Shares |
| Rangeley Capital, LLC | $122,190 | 185,136 | 1.56% | Shares |
| Johns Hopkins University | $80,676 | 122,237 | 1.03% | Shares |
| MORGAN STANLEY | $71,782 | 108,760 | 0.92% | Shares |
| Baird Financial Group, Inc. | $69,934 | 105,961 | 0.89% | Shares |
| CITADEL ADVISORS LLC | $50,658 | 76,754 | 0.65% | Shares |
| HighTower Advisors, LLC | $24,717 | 37,450 | 0.32% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $16,500 | 25,000 | 0.21% | Shares |
| XTX Topco Ltd | $9,781 | 14,819 | 0.12% | Shares |
| RHUMBLINE ADVISERS | $7,712 | 11,685 | 0.10% | Shares |
| TWO SIGMA SECURITIES, LLC | $7,294 | 11,052 | 0.09% | Shares |
| UBS Group AG | $665 | 1,008 | 0.01% | Shares |
Company insiders 16 insiders · 9 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William Enright | Chief Executive Officer | Jan. 2, 2024 A | 728,454 | 0 | 0 | $0 |
| Gemma Brown | Chief Financial Officer | Jan. 2, 2024 A | — | 0 | 0 | $0 |
| Georgy Egorov | Chief Financial Officer | Jan. 3, 2022 A | — | 0 | 0 | $0 |
| Christopher Ellis | Chief Operating Officer | Jan. 3, 2023 A | 75 | 0 | 0 | $0 |
| Leon Hooftman | Chief Medical Officer | June 3, 2024 A | — | 0 | 0 | $0 |
| Nadege Pelletier | Chief Scientific Officer | Jan. 2, 2024 A | — | 0 | 0 | $0 |
| Graham Griffiths | Chief Business Officer | Jan. 2, 2024 A | 104,209 | 0 | 0 | $0 |
| Thomas George Evans | Fmr Chief Scientific Officer | Jan. 3, 2023 A | — | 0 | 0 | $0 |
| Margaret Marshall | Chief Medical Officer | Jan. 3, 2023 A | — | 0 | 0 | $0 |
| Joseph Scheeren | Director | June 26, 2023 P | 23,000 | 0 | 0 | $0 |
| Robin Wright | Director | May 25, 2023 P | 48,256 | 0 | 0 | $0 |
| Pierre A. Morgon | Director | May 11, 2023 A | — | 0 | 0 | $0 |
| Alex Hammacher | Director | May 11, 2023 A | 3,000 | 0 | 0 | $0 |
| Anne M. Phillips | Director | May 11, 2023 A | 3,000 | 0 | 0 | $0 |
| Karen A Dawes | Director | May 11, 2023 A | 1,700 | 0 | 0 | $0 |
| Oxford Sciences Innovation plc | 10% owner | May 4, 2021 C | 8,797,770 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| International Generosity Foundation Trust | April 13, 2026 | 6.70% | Initial filing | Passive investment | 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.