CELC Celcuity Inc. - Common Stock
$94.88
Price · Aug 19, 2026
Fundamentals as of Aug 13, 2026
52W Range
$44–$151
47% of range
Analyst Rating
BUY
18 analysts
Price Target
$164
+72% upside
P/E (TTM)
-25.0
ROE
-244.3%
Net Profit Margin
—
CELC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$94.88
Market Cap
$4.58B
P/E (TTM)
-25.0
EPS (TTM)
$-3.79
Revenue (TTM)
—
Div Yield
—
ROE
-244.3%
Debt/Equity
—
52W Range
$44 – $151
CELC 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
—
EPS
$-3.79
2022-12-31
→
2025-12-31
Free Cash Flow
$-154M
2017-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
CELC
Peer Median
P/E (TTM)
-25.0
13.2
P/B
45.5
3.5
Price / FCF
-29.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
CELC
Peer Median
ROA
-49.8%
-42.2%
ROE
-244.3%
-52.8%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
CELC
Peer Median
Current Ratio
10.5
10.3
Quick Ratio
10.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
CELC
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
CELC
Peer Median
CELC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
18 analysts
- Strong Buy 7 38.9%
- Buy 10 55.6%
- Hold 1 5.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-14
Median
$165.00
← Below all targets
$94.88
Low
$148.00
High
$178.00
Median target
$165.00
+73.9%
Mean target
$163.54
+72.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-1.44 | $-1.19 | -0.25% |
| March 31, 2026 | $-0.97 | $-1.07 | 0.10% |
| Dec. 31, 2025 | $-0.97 | $-1.06 | 0.09% |
| Sept. 30, 2025 | $-0.92 | $-1.03 | 0.11% |
| June 30, 2025 | $-1.04 | $-0.90 | -0.14% |
| March 31, 2025 | $-0.86 | $-0.88 | 0.02% |
| Dec. 31, 2024 | $-0.85 | $-0.72 | -0.13% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| CELC | $4.81B | -26.3 | — | — | -244.3% | — |
| ACAD | $4.55B | 11.6 | 11.9% | 36.5% | 38.1% | — |
| DYN | $3.23B | -5.6 | — | — | -57.8% | — |
| PBLS | — | — | — | — | — | — |
| RLAY | $1.47B | -5.3 | 53.4% | -1800.6% | -44.9% | — |
| TNGX | $1.20B | -10.2 | 48.3% | -162.8% | -42.2% | — |
| LEGN | — | — | — | — | — | — |
| DNLI | $2.58B | -5.6 | 204.7% | — | -50.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $145M | $104M | $61M | $35M | $26M | $8M | $6M | $6M | $5M | $3M | |
| SG&A Expense | $27M | $9M | $6M | $4M | $3M | $2M | $2M | $2M | $972.5K | $263.7K | |
| Operating Expenses | $172M | $113M | $66M | $39M | $28M | $10M | $8M | $8M | $6M | $3M | |
| Operating Income | $-172M | $-113M | $-66M | $-39M | $-28M | $-10M | $-8M | $-8M | $-6M | $-3M | |
| Interest Expense | · | · | $5M | $2M | $1M | $120 | $159 | $111 | $451.7K | $0 | |
| Interest Income | $12M | $12M | $8M | $1M | $13.3K | $82.1K | $446.1K | $448.8K | $152.9K | $18.0K | |
| Other Non-op | $-5M | $1M | $2M | $-978.9K | $-1M | $82.0K | $445.9K | $451.7K | $-298.8K | $18.0K | |
| Pretax Income | $-177M | $-112M | $-64M | $-40M | $-30M | $-9M | $-7M | $-7M | $-6M | $-3M | |
| Income Tax | · | · | · | · | · | · | $0 | $0 | $0 | $0 | |
| Net Income | $-177M | $-112M | $-64M | $-40M | $-30M | $-9M | $-7M | $-7M | $-6M | $-3M | |
| EPS (Basic) | $-3.79 | $-2.83 | $-2.69 | $-2.64 | $-2.21 | · | · | · | · | · | |
| EPS (Diluted) | $-3.79 | $-2.83 | $-2.69 | $-2.64 | · | · | · | · | · | · | |
| Shares (Basic) | 46,757,691 | 39,449,393 | 23,679,472 | 15,418,543 | 13,382,553 | · | · | · | · | · | |
| Shares (Diluted) | 46,757,691 | 39,449,393 | 23,679,472 | 15,418,543 | · | · | · | · | · | · | |
| EBITDA | $-172M | $-113M | $-66M | · | $-28M | $-10M | $-8M | $-8M | $-6M | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $166M | $23M | $31M | $25M | $84M | $12M | $19M | $16M | $3M | $6M | |
| Short-term Investments | $276M | $213M | $150M | $144M | · | · | $0 | $9M | $22M | $0 | |
| Prepaid Expense | · | · | · | $7M | $722.7K | $317.0K | $274.6K | $269.9K | $209.7K | $0 | |
| Other Current Assets | $5M | $3M | $10M | $7M | · | · | · | · | · | · | |
| Current Assets | $466M | $245M | $191M | $175M | $85M | $12M | $19M | $25M | $24M | $6M | |
| PP&E (Net) | $499.0K | $336.0K | $228.8K | $260.3K | $312.4K | $558.9K | $833.5K | $813.6K | $280.1K | $144.9K | |
| PP&E (Gross) | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $540.2K | $300.3K | |
| Accum. Depreciation | $2M | $2M | $2M | $2M | $2M | $1M | $819.9K | $480.9K | $260.1K | $155.4K | |
| Other Non-current Assets | $349.0K | · | · | · | · | · | · | · | · | · | |
| Total Assets | $467M | $245M | $191M | $176M | $86M | $13M | $20M | $26M | $32M | $6M | |
| Accounts Payable | $6M | $9M | $5M | $3M | $2M | $217.4K | $142.8K | $119.8K | $71.9K | $331.5K | |
| Accrued Liabilities | · | $22M | $9M | $4M | $802.9K | $774.6K | $584.3K | $536.8K | $506.1K | $113.8K | |
| Current Liabilities | $44M | $32M | $14M | $7M | $3M | $1M | $911.3K | $662.3K | $578.1K | $445.4K | |
| Capital Leases | · | $54.0K | $225.9K | $61.0K | $61.8K | $60.9K | $57.8K | $0 | $0 | · | |
| Total Liabilities | $366M | $130M | $51M | $42M | $17M | $1M | $983.2K | $682.2K | $578.1K | $445.4K | |
| Long-term Debt | $138M | $105M | $38M | $36M | $16M | · | · | · | · | · | |
| Common Stock | $48.0K | $37.0K | $25.5K | $21.7K | $14.9K | $10.3K | $10.3K | $10.2K | $10.1K | $0 | |
| Paid-in Capital | $549M | $387M | $300M | $230M | $125M | $38M | $36M | $35M | $33M | $593.4K | |
| Retained Earnings | $-449M | $-272M | $-160M | $-96M | $-56M | $-26M | $-17M | $-9M | $-2M | $-8M | |
| Stockholders' Equity | $101M | $116M | $140M | $134M | $69M | $12M | $19M | $25M | $31M | $6M | |
| Liabilities + Equity | $467M | $245M | $191M | $176M | $86M | $13M | $20M | $26M | $32M | $6M | |
| Shares Outstanding | 48,244,960 | 37,143,242 | 25,506,012 | 21,667,250 | 14,918,887 | 10,299,822 | 10,253,988 | 10,186,382 | 10,087,516 | 0 |
Cash Flow 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $21M | $7M | $5M | $5M | $3M | $2M | $1M | $1M | $874.4K | $187.3K | |
| Operating Cash Flow | $-153M | $-83M | $-54M | $-36M | $-20M | $-7M | $-6M | $-6M | $-5M | $-3M | |
| CapEx | $249.0K | $250.0K | $97.6K | $158.8K | $81.9K | $89.4K | $-380.2K | $629.6K | $239.8K | $40.9K | |
| Investing Cash Flow | $-64M | $-63M | $-5M | $-144M | $-81.4K | $-89.4K | $9M | $19M | $-29M | $-40.9K | |
| Financing Cash Flow | $361M | $138M | $65M | $120M | $93M | $138.0K | $259.3K | $236.7K | $31M | $4M | |
| Net Change in Cash | · | · | · | · | · | $-7M | $3M | $13M | $-3M | $789.1K | |
| Free Cash Flow | $-154M | $-84M | $-54M | · | $-20M | $-7M | $-6M | $-7M | $-5M | · | |
| Levered FCF | · | · | · | · | · | $-7M | $-6M | $-7M | $-6M | · |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -49.8% | -51.2% | -34.8% | · | -59.9% | -57.0% | -31.8% | -25.8% | -32.9% | · | |
| ROE | -244.3% | -84.3% | -54.8% | · | -41.3% | -74.4% | -36.8% | -28.6% | -33.8% | · | |
| ROIC | · | · | · | · | · | -81.7% | -40.5% | -31.3% | -19.0% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.5 | 7.7 | 13.4 | · | 34.1 | 10.3 | 21.1 | 38.1 | 42.4 | · | |
| Quick Ratio | 10.0 | 7.4 | 12.7 | · | 33.6 | 9.8 | 20.6 | 37.6 | 41.9 | · | |
| Interest Coverage | · | · | -12.4 | · | -22.5 | -79634.7 | -49089.9 | -71464.3 | -13.2 | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-177M | $-112M | $-64M | $-40M | $-30M | $-9M | $-7M | $-7M | $-6M | · | |
| Market Cap | $4.81B | $486M | $372M | · | $197M | $94M | $109M | $244M | $191M | · | |
| P/E | -26.3 | -4.6 | -5.4 | -5.3 | · | · | · | · | · | · | |
| P/B | 47.9 | 4.2 | 2.7 | · | 2.9 | 8.1 | 5.7 | 9.6 | 6.1 | · | |
| P / Tangible Book | 47.9 | 4.2 | 2.7 | 2.3 | 2.9 | 8.1 | · | · | · | · | |
| P / Cash Flow | -31.4 | -5.8 | -6.9 | · | -9.7 | -13.2 | -18.2 | -40.2 | -38.6 | · | |
| P / FCF | -31.3 | -5.8 | -6.9 | · | -9.6 | -13.4 | -17.1 | -36.4 | -36.8 | · | |
| Earnings Yield | -3.8% | -21.6% | -18.5% | -18.8% | · | · | · | · | · | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $31M | $33M | $38M | $35M | $36M | $30M | $33M | $28M | $22M | $21M | $18M | $17M | $14M | $11M | $11M | $10M | |
| SG&A Expense | $35M | $17M | $12M | $8M | $8M | $6M | $3M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | |
| Operating Expenses | $66M | $51M | $49M | $43M | $44M | $36M | $36M | $30M | $24M | $22M | $20M | $19M | $15M | $13M | $12M | $11M | |
| Operating Income | $-66M | $-51M | $-49M | $-43M | $-44M | $-36M | $-36M | $-30M | $-24M | $-22M | $-20M | $-19M | $-15M | $-13M | $-12M | $-11M | |
| Interest Expense | · | · | · | · | · | · | · | $3M | $2M | $1M | · | $1M | $1M | $1M | $678.0K | $537.7K | |
| Interest Income | $4M | $4M | $4M | $4M | $2M | $2M | $3M | $4M | $3M | $2M | $2M | $2M | $2M | $2M | $735.9K | $287.5K | |
| Other Non-op | $-13M | $-2M | $-2M | $-955.0K | $-1M | $-864.0K | $-223.0K | $268.0K | $562.0K | $881.0K | $880.8K | $493.5K | $467.8K | $609.1K | $57.9K | $-250.2K | |
| Pretax Income | $-79M | $-53M | $-51M | $-44M | $-45M | $-37M | $-37M | $-30M | $-24M | $-22M | $-19M | $-18M | $-15M | $-12M | $-12M | $-11M | |
| Net Income | $-79M | $-53M | $-51M | $-44M | $-45M | $-37M | $-37M | $-30M | $-24M | $-22M | $-19M | $-18M | $-15M | $-12M | $-12M | $-11M | |
| EPS (Basic) | $-1.44 | $-0.97 | $-0.97 | $-0.92 | $-1.04 | $-0.86 | $-0.87 | $-0.70 | $-0.62 | $-0.64 | $-0.65 | $-0.83 | $-0.66 | $-0.55 | $-0.69 | $-0.75 | |
| EPS (Diluted) | $-1.44 | $-0.97 | $-0.97 | $-0.92 | $-1.04 | $-0.86 | $-0.87 | $-0.70 | $-0.62 | $-0.64 | $-0.65 | $-0.83 | $-0.66 | $-0.55 | $-0.69 | $-0.75 | |
| Shares (Basic) | 54,816,437 | 54,462,826 | -87,548,161 | 47,589,731 | 43,663,364 | 43,052,757 | -75,399,871 | 42,793,047 | 38,444,163 | 33,612,054 | -42,076,171 | 22,117,626 | 21,957,140 | 21,680,877 | -29,367,406 | 14,938,224 | |
| Shares (Diluted) | 54,816,437 | 54,462,826 | -87,548,161 | 47,589,731 | 43,663,364 | 43,052,757 | -75,399,871 | 42,793,047 | 38,444,163 | 33,612,054 | -42,076,171 | 22,117,626 | 21,957,140 | 21,680,877 | 489,816 | 14,938,224 | |
| EBITDA | $-66M | $-51M | · | $-43M | $-44M | $-36M | · | $-30M | $-24M | $-22M | · | $-19M | $-15M | $-13M | · | $-11M |
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 | $182M | $145M | $166M | $74M | $46M | $16M | $23M | $13M | $30M | $31M | $31M | $26M | $32M | $34M | $25M | $57M | |
| Short-term Investments | $572M | $242M | $276M | $381M | $122M | $189M | $213M | $251M | $253M | $146M | $150M | $108M | $114M | $124M | $144M | · | |
| Prepaid Expense | · | · | · | · | · | · | · | · | · | · | · | $8M | $6M | $7M | · | $7M | |
| Other Current Assets | $9M | $6M | $5M | $21M | $15M | $12M | $3M | $8M | $9M | $10M | $10M | · | · | · | $7M | · | |
| Current Assets | $776M | $409M | $466M | $475M | $183M | $218M | $245M | $272M | $292M | $188M | $191M | $142M | $153M | $164M | $175M | $65M | |
| PP&E (Net) | $611.0K | $619.0K | $499.0K | $417.0K | $357.0K | $358.0K | $336.0K | $338.8K | $308.4K | $306.0K | $228.8K | $223.4K | $210.9K | $223.3K | $260.3K | $302.0K | |
| PP&E (Gross) | · | · | $3M | · | · | · | $2M | · | · | · | $2M | · | · | · | $2M | · | |
| Accum. Depreciation | · | · | $2M | · | · | · | $2M | · | · | · | $2M | · | · | · | $2M | · | |
| Intangibles | $50M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $661.0K | $603.0K | $349.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Assets | $828M | $410M | $467M | $476M | $184M | $218M | $245M | $273M | $293M | $188M | $191M | $142M | $154M | $165M | $176M | $65M | |
| Accounts Payable | $8M | $10M | $6M | $11M | $11M | $10M | $9M | $9M | $6M | $5M | $5M | $6M | $3M | $3M | $3M | $3M | |
| Accrued Liabilities | · | · | · | $27M | $29M | $23M | · | $17M | $13M | $11M | $9M | $7M | $4M | $3M | $4M | $3M | |
| Current Liabilities | $87M | $33M | $44M | $39M | $40M | $33M | $32M | $26M | $20M | $17M | $14M | $13M | $7M | $6M | $7M | $7M | |
| Capital Leases | $893.0K | · | · | · | · | $13.0K | $54.0K | $95.7K | $138.5K | $182.1K | $225.9K | $270.9K | $317.1K | $364.0K | $61.0K | $107.8K | |
| Total Liabilities | $841M | $357M | $366M | $359M | $139M | $131M | $130M | $123M | $116M | $54M | $51M | $49M | $43M | $42M | $42M | $22M | |
| Long-term Debt | $0 | $138M | $138M | $137M | $106M | $105M | · | $105M | $105M | $38M | · | $37M | $37M | $36M | · | $16M | |
| Common Stock | $49.0K | $48.0K | $48.0K | $43.0K | $39.0K | $38.0K | $37.0K | $37.1K | $37.0K | $30.8K | $25.5K | $22.4K | $22.1K | $21.9K | $21.7K | $14.9K | |
| Paid-in Capital | $568M | $555M | $549M | $515M | $398M | $395M | $387M | $385M | $382M | $315M | $300M | $234M | $233M | $231M | $230M | $128M | |
| Retained Earnings | $-581M | $-502M | $-449M | $-398M | $-354M | $-309M | $-272M | $-235M | $-205M | $-182M | $-160M | $-141M | $-123M | $-108M | $-96M | $-85M | |
| Stockholders' Equity | $-13M | $54M | $101M | $117M | $44M | $87M | $116M | $150M | $177M | $134M | $140M | $93M | $110M | $123M | $134M | $44M | |
| Liabilities + Equity | $828M | $410M | $467M | $476M | $184M | $218M | $245M | $273M | $293M | $188M | $191M | $142M | $154M | $165M | $176M | $65M | |
| Shares Outstanding | 48,922,556 | 48,347,390 | 48,244,960 | 43,274,548 | 38,914,208 | 37,839,392 | 37,143,242 | 37,116,267 | 37,014,751 | 30,773,895 | 25,506,012 | 22,369,393 | 22,081,893 | 21,941,372 | 21,667,250 | 14,942,958 |
Cash Flow 6
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $7M | $5M | $9M | $7M | $3M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Operating Cash Flow | $-55M | $-55M | $-36M | $-45M | $-36M | $-36M | $-28M | $-21M | $-18M | $-17M | $-19M | $-13M | $-10M | $-13M | $-9M | $-9M | |
| CapEx | $51.0K | $249.0K | $53.0K | $97.0K | $39.0K | $60.0K | $45.0K | $51.1K | $64.3K | $90.0K | $32.7K | $53.1K | $4.9K | $7.0K | $112.0K | $12.1K | |
| Investing Cash Flow | $-331M | $35M | $103M | $-258M | $66M | $24M | $38M | $2M | $-106M | $4M | $-41M | $6M | $8M | $22M | $-144M | $-12.1K | |
| Financing Cash Flow | $423M | $34.0K | $24M | $330M | $232.0K | $6M | $123.0K | $802.5K | $123M | $14M | $65M | $15.2K | $171.5K | $67.9K | $121M | $-108.2K | |
| Free Cash Flow | · | $-55M | · | · | · | $-36M | · | · | · | $-17M | · | · | · | $-13M | · | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -15.6% | -16.8% | · | -11.7% | -19.0% | -18.2% | · | -14.3% | -10.6% | -12.2% | · | -17.7% | -12.9% | -9.8% | · | -13.9% | |
| ROE | -499.2% | -75.4% | · | -32.9% | -41.0% | -33.6% | · | -24.6% | -16.5% | -16.8% | · | -27.0% | -17.9% | -12.9% | · | -18.5% |
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 | 8.9 | 12.3 | · | 12.3 | 4.6 | 6.6 | · | 10.4 | 14.9 | 11.2 | · | 11.1 | 21.6 | 28.3 | · | 9.7 | |
| Quick Ratio | 8.7 | 11.7 | · | 11.7 | 4.2 | 6.2 | · | 10.0 | 14.5 | 10.6 | · | 10.5 | 20.7 | 27.1 | · | 8.7 | |
| Interest Coverage | · | · | · | · | · | · | · | -9.0 | -10.7 | -16.1 | · | -13.8 | -11.4 | -10.1 | · | -19.8 |
Valuation (TTM) 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-221M | $-179M | · | $-156M | $-136M | $-112M | · | $-94M | $-78M | $-67M | · | $-56M | $-47M | $-41M | · | $-35M | |
| Market Cap | $5.12B | $5.52B | · | $2.14B | $520M | $383M | · | $553M | $606M | $665M | · | $204M | $242M | $225M | · | $150M | |
| P/E | -23.9 | -30.1 | · | -14.0 | -4.1 | -3.6 | · | -5.3 | -6.0 | -8.1 | · | -3.3 | -4.2 | · | · | · | |
| P/B | -400.5 | 103.1 | · | 18.3 | 11.7 | 4.4 | · | 3.7 | 3.4 | 5.0 | · | 2.2 | 2.2 | 1.8 | · | 3.4 | |
| P / Tangible Book | · | 103.1 | · | 18.3 | 11.7 | 4.4 | · | 3.7 | 3.4 | 5.0 | · | 2.2 | 2.2 | 1.8 | · | 3.4 | |
| P / Cash Flow | · | -100.2 | · | · | · | -10.7 | · | · | · | -38.9 | · | · | · | -17.5 | · | · | |
| P / FCF | · | -99.8 | · | · | · | -10.7 | · | · | · | -38.7 | · | · | · | -17.5 | · | · | |
| Earnings Yield | -4.2% | -3.3% | · | -7.1% | -24.1% | -27.9% | · | -18.7% | -16.8% | -12.4% | · | -30.5% | -23.9% | · | · | · |
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 | |
|---|---|---|---|---|---|
| Net Income | $-177M | $-112M | $-64M | $-40M | $-30M |
| Diluted EPS | $-3.79 | $-2.83 | $-2.69 | $-2.64 | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 10.5 | 7.7 | 13.4 | — | 34.1 |
| Quick Ratio | 10.0 | 7.4 | 12.7 | — | 33.6 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-154M | $-84M | $-54M | — | $-20M |
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Institutional owners (13F) 293 filers · $5.3B 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 |
|---|---|---|---|---|
| 67 (-10 vs prior Q) | 53 (+25 vs prior Q) | 107 (+10 vs prior Q) | 73 (-3 vs prior Q) | +9.5M |
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 |
|---|---|---|---|---|
| BAKER BROS. ADVISORS LP | $828,150,159 | 7,915,792 | 15.55% | Shares |
| Avoro Capital Advisors LLC | $355,708,000 | 3,400,000 | 6.68% | Shares |
| RTW INVESTMENTS, LP | $345,758,952 | 3,304,903 | 6.49% | Shares |
| PERCEPTIVE ADVISORS LLC | $334,491,064 | 3,197,200 | 6.28% | Shares |
| STATE STREET CORP | $204,556,764 | 1,955,304 | 3.84% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $196,072,213 | 1,874,137 | 3.68% | Shares |
| NEA Management Company, LLC | $178,958,892 | 1,710,561 | 3.36% | Shares |
| Soleus Capital Management, L.P. | $178,305,749 | 1,704,318 | 3.35% | Shares |
| DEERFIELD MANAGEMENT COMPANY, L.P. | $151,805,085 | 1,451,014 | 2.85% | Shares |
| BANK OF AMERICA CORP /DE/ | $142,608,568 | 1,363,110 | 2.68% | Shares |
| TANG CAPITAL MANAGEMENT LLC | $137,532,824 | 1,314,594 | 2.58% | Shares |
| TORONTO DOMINION BANK | $131,691,262 | 1,258,758 | 2.47% | Shares |
| MORGAN STANLEY | $129,339,091 | 1,236,275 | 2.43% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $101,611,121 | 970,994 | 1.91% | Shares |
| GOLDMAN SACHS GROUP INC | $77,203,387 | 737,941 | 1.45% | Shares |
| Point72 Asset Management, L.P. | $68,098,832 | 650,916 | 1.28% | Shares |
| Hood River Capital Management LLC | $65,744,359 | 628,411 | 1.23% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $62,686,944 | 599,187 | 1.18% | Shares |
| ALLIANCEBERNSTEIN L.P. | $60,599,437 | 530,922 | 1.14% | Shares |
| FMR LLC | $57,414,724 | 548,793 | 1.08% | Shares |
| Apis Capital Advisors, LLC | $56,285,560 | 538,000 | 1.06% | Shares |
| Holocene Advisors, LP | $55,777,839 | 533,147 | 1.05% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $53,816,124 | 514,396 | 1.01% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $52,414,202 | 500,996 | 0.98% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $51,718,897 | 494,350 | 0.97% | Shares |
| Artisan Partners Limited Partnership | $48,291,650 | 461,591 | 0.91% | Shares |
| AMERICAN CENTURY COMPANIES INC | $46,546,597 | 444,909 | 0.87% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $43,711,910 | 417,816 | 0.82% | Shares |
| Boxer Capital Management, LLC | $43,577,368 | 416,530 | 0.82% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $42,120,012 | 402,600 | 0.79% | Call option |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $39,756,960 | 380,013 | 0.75% | Shares |
| Saturn V Capital Management LP | $38,742,669 | 370,318 | 0.73% | Shares |
| JENNISON ASSOCIATES LLC | $37,555,650 | 358,972 | 0.71% | Shares |
| First Turn Management, LLC | $34,430,547 | 329,101 | 0.65% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $33,571,826 | 320,893 | 0.63% | Shares |
| Driehaus Capital Management LLC | $31,789,833 | 303,860 | 0.60% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $31,166,298 | 297,900 | 0.59% | Put option |
| Pfizer Inc | $29,550,417 | 295,652 | 0.55% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $29,058,100 | 277,749 | 0.55% | Shares |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC | $28,990,202 | 277,100 | 0.54% | Shares |
| Caption Management, LLC | $28,467,102 | 272,100 | 0.53% | Put option |
| Focus Partners Wealth | $24,330,323 | 232,559 | 0.46% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $21,396,000 | 204,516 | 0.40% | Shares |
| JANE STREET GROUP, LLC | $20,871,690 | 199,500 | 0.39% | Call option |
| EVENTIDE ASSET MANAGEMENT, LLC | $20,583,578 | 196,770 | 0.39% | Shares |
| JANE STREET GROUP, LLC | $19,888,262 | 190,100 | 0.37% | Put option |
| Assenagon Asset Management S.A. | $19,683,311 | 188,141 | 0.37% | Shares |
| Blue Sparrow, LLC /DE | $19,417,472 | 185,600 | 0.36% | Shares |
| MARSHALL WACE, LLP | $18,973,465 | 181,356 | 0.36% | Shares |
| Granahan Investment Management, LLC | $18,732,525 | 179,053 | 0.35% | Shares |
| Woodline Partners LP | $18,457,270 | 176,422 | 0.35% | Shares |
| Alyeska Investment Group, L.P. | $17,873,909 | 170,846 | 0.34% | Shares |
| Caption Management, LLC | $17,785,400 | 170,000 | 0.33% | Shares |
| Fiera Capital Corp | $16,583,212 | 158,509 | 0.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $16,255,646 | 155,378 | 0.31% | Shares |
| Eversept Partners, LP | $13,384,141 | 127,931 | 0.25% | Shares |
| Ensign Peak Advisors, Inc | $13,300,445 | 127,131 | 0.25% | Shares |
| CITADEL ADVISORS LLC | $12,951,956 | 123,800 | 0.24% | Call option |
| CITADEL ADVISORS LLC | $12,899,646 | 123,300 | 0.24% | Put option |
| Sio Capital Management, LLC | $11,510,502 | 110,022 | 0.22% | Shares |
| NAN FUNG TRINITY (HK) LTD | $10,856,941 | 103,775 | 0.20% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $10,749,287 | 102,746 | 0.20% | Shares |
| CITIGROUP INC | $10,333,631 | 98,773 | 0.19% | Shares |
| STEMPOINT CAPITAL LP | $10,273,998 | 98,203 | 0.19% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $9,567,394 | 91,449 | 0.18% | Shares |
| Jefferies Financial Group Inc. | $9,335,661 | 89,234 | 0.18% | Shares |
| Clearbridge Investments, LLC | $8,485,944 | 81,112 | 0.16% | Shares |
| Candriam S.C.A. | $7,586,850 | 72,588 | 0.14% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $7,474,576 | 71,445 | 0.14% | Shares |
| Freestone Grove Partners LP | $7,104,430 | 67,907 | 0.13% | Shares |
| Tetragon Partners GP Ltd | $6,707,188 | 64,110 | 0.13% | Shares |
| ACT CAPITAL MANAGEMENT, LLC | $6,502,133 | 62,150 | 0.12% | Shares |
| Harvest Investment Services, LLC | $6,250,731 | 59,747 | 0.12% | Shares |
| Artia Global Partners LP | $6,205,640 | 59,316 | 0.12% | Shares |
| Balyasny Asset Management L.P. | $6,036,365 | 57,698 | 0.11% | Shares |
| WELLS FARGO & COMPANY/MN | $5,899,103 | 56,386 | 0.11% | Shares |
| Ghisallo Capital Management LLC | $5,754,100 | 55,000 | 0.11% | Shares |
| GAGNON SECURITIES LLC | $5,569,969 | 53,240 | 0.10% | Shares |
| PFM Health Sciences, LP | $5,456,456 | 52,155 | 0.10% | Shares |
| Caption Management, LLC | $5,231,000 | 50,000 | 0.10% | Call option |
| RHUMBLINE ADVISERS | $5,035,454 | 48,131 | 0.09% | Shares |
| E Fund Management Co., Ltd. | $4,801,535 | 45,895 | 0.09% | Shares |
| Bank of New York Mellon Corp | $4,714,910 | 45,067 | 0.09% | Shares |
| BlackRock, Inc. | $4,337,545 | 41,460 | 0.08% | Shares |
| IMC-Chicago, LLC | $4,302,707 | 41,127 | 0.08% | Shares |
| PRUDENTIAL FINANCIAL INC | $4,134,059 | 39,515 | 0.08% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $4,046,806 | 38,681 | 0.08% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $3,915,090 | 37,422 | 0.07% | Shares |
| ExodusPoint Capital Management, LP | $3,819,048 | 36,504 | 0.07% | Shares |
| Quantinno Capital Management LP | $3,769,877 | 36,034 | 0.07% | Shares |
| JNBA Financial Advisors | $3,740,479 | 35,753 | 0.07% | Shares |
| Atom Investors LP | $3,608,135 | 34,488 | 0.07% | Shares |
| Atle Fund Management AB | $3,485,206 | 33,313 | 0.07% | Shares |
| Swiss National Bank | $3,295,530 | 31,500 | 0.06% | Shares |
| Rafferty Asset Management, LLC | $3,272,932 | 31,284 | 0.06% | Shares |
| Resolute Capital Asset Partners LLC | $3,138,600 | 30,000 | 0.06% | Shares |
| BARCLAYS PLC | $3,101,774 | 29,648 | 0.06% | Shares |
| Man Group plc | $3,017,764 | 28,845 | 0.06% | Shares |
| ROYCE & ASSOCIATES LP | $3,007,720 | 28,749 | 0.06% | Shares |
| Nan Fung Group Holdings Ltd | $2,960,746 | 28,300 | 0.06% | Shares |
Company insiders 10 insiders · 3 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| SULLIVAN BRIAN F | Chief Executive Officer | Aug. 14, 2026 A | 1,450,199 | 0 | 0 | $0 |
| Vicky Hahne | Chief Financial Officer | Aug. 14, 2026 A | 37,808 | 0 | 0 | $0 |
| Lance G. Laing | Chief Science Officer | Aug. 14, 2026 A | 1,271,000 | 0 | 0 | $0 |
| Polly A. Murphy | Director | June 10, 2026 G | 6,530 | 0 | 0 | $0 |
| Richard E Buller | Director | June 10, 2026 G | 1,530 | 0 | 0 | $0 |
| Charles R Romp | Director | June 5, 2026 A | 1,745 | 0 | 0 | $0 |
| Leo Furcht | Director | June 5, 2026 A | 12,530 | 0 | 0 | $0 |
| David Dalvey | Director | June 5, 2026 A | 1,530 | 0 | 3 | $-7,417,600 |
| Richard Nigon | Director | June 5, 2026 A | 80,565 | 0 | 0 | $0 |
| Maureen Therese Cronin | Director | May 16, 2019 A | 7,821 | 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 |
|---|---|---|---|---|---|
| Baker Bros. Advisors LP, Baker Bros. Advisors (GP) LLC, Julian C. Baker, Felix J. Baker ×3 filings | July 16, 2026 | 9.99% | Amendment | Passive investment | SEC |
| Growth Equity Opportunities 18 VGE, LLC, NEA 18 Venture Growth Equity, L.P., NEA Partners 18 VGE, L.P., NEA 18 VGE GP, LLC, Ali Behbahani, Carmen Chang, Anthony A. Florence, Jr., Mohamad H. Makhzoumi, Edward T. Mathers, Scott D. Sandell, Paul Walker, Rick Yang ×5 filings | March 9, 2026 | 4.90% | Amendment | — | 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 38 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| SBIO · ALPS ETF Trust | 3.92% | 47,693 NS | May 31, 2026 | N-PORT |
| CANC · Tema ETF Trust | 3.58% | 47,450 NS | May 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.98% | 41,941 NS | April 30, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.85% | 2,621 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.51% | 1,084 NS | April 30, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.30% | 6,305 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.24% | 41,164 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.23% | 12,963 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.22% | 348,513 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.15% | 9,324 NS | April 30, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.15% | 28,672 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.15% | 978 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.13% | 15,159 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.12% | 221,459 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.12% | 1,652 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.11% | 974,475 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.10% | 173,424 NS | May 31, 2026 | N-PORT |
| SMLF · iShares Trust | 0.08% | 38,420 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.08% | 6,187 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.07% | 1,291 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.06% | 4,864 SH | Aug. 8, 2026 | Daily |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.05% | 42 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.05% | 1,301 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.04% | 9,556 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.04% | 436,100 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.03% | 1,011 SH | Aug. 8, 2026 | Daily |
| HDG · ProShares Trust | 0.02% | 33 NS | May 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.02% | 47,279 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.02% | 1,276 SH | Aug. 8, 2026 | Daily |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 12,162 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 1,394,332 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 3,159 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.01% | 20,955 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 1,940 SH | Aug. 8, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 51,220 SH | Aug. 8, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 770 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 9,572 SH | Aug. 8, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | -0.07% | -12,926 NS | April 30, 2026 | N-PORT |