CRVS Corvus Pharmaceuticals, Inc. - Common Stock
CRVS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
CRVS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
CRVS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 5 35.7%
- Buy 8 57.1%
- Hold 1 7.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-08-16Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.19 | $-0.16 | -0.03% |
| March 31, 2026 | $-0.15 | $-0.15 | -0.00% |
| Dec. 31, 2025 | $-0.15 | $-0.13 | -0.02% |
| Sept. 30, 2025 | $-0.12 | $-0.14 | 0.02% |
| June 30, 2025 | $-0.10 | $-0.14 | 0.04% |
| March 31, 2025 | $0.21 | $-0.12 | 0.33% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| CRVS | $575M | -14.5 | — | — | -21.6% | — |
| CGEM | $624M | -3.2 | — | — | -44.0% | — |
| NVAX | $1.09B | 2.6 | 64.7% | 39.2% | -977.1% | — |
| INBX | $1.15B | -8.7 | 550.0% | -10773.5% | -365.9% | — |
| GLUE | $1.03B | — | 63.5% | -31.2% | -15.4% | — |
| MGTX | $645M | -5.6 | 144.6% | -140.3% | 8062.2% | — |
| MNKD | $1.75B | 283.5 | 22.2% | 1.7% | -11.1% | — |
| REPL | $633M | -2.3 | — | — | -146.2% | — |
| VOR | $506M | -0.2 | — | — | 83.4% | — |
| SANA | $1.09B | -4.2 | — | — | -172.3% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $34M | $19M | $17M | $24M | $29M | $32M | $38M | $39M | $46M | $29M | $11M | |
| SG&A Expense | $9M | $8M | $7M | $8M | $10M | $12M | $11M | $11M | $10M | $8M | $2M | |
| Operating Expenses | $43M | $28M | $23M | $33M | $39M | $44M | $49M | $49M | $57M | $37M | $14M | |
| Operating Income | $-43M | $-28M | $-23M | $-33M | $-39M | $-44M | $-49M | $-49M | $-57M | $-37M | $-14M | |
| Pretax Income | $-13M | $-59M | $-22M | $-31M | $-43M | $-6M | $-47M | $-47M | $-56M | $-36M | $-31M | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-15M | $-62M | $-27M | $-41M | $-43M | $-6M | $-47M | $-47M | $-56M | $-36M | $-31M | |
| EPS (Basic) | $-0.19 | $-1.02 | $-0.56 | $-0.89 | $-1.03 | $-0.20 | $-1.59 | · | · | · | · | |
| EPS (Diluted) | $-0.53 | $-1.02 | $-0.56 | $-0.89 | $-1.03 | $-0.20 | $-1.59 | · | · | · | · | |
| Shares (Basic) | 78,964,842 | 60,985,165 | 48,025,274 | 46,553,511 | 41,854,110 | 29,478,878 | 29,349,810 | · | · | · | · | |
| Shares (Diluted) | 79,742,685 | 60,985,165 | 48,025,274 | 46,553,511 | 41,854,110 | 29,478,878 | 29,349,810 | · | · | · | · | |
| EBITDA | $-43M | $-27M | $-23M | $-32M | $-38M | $-43M | $-48M | $-48M | · | · | · |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5M | $9M | $13M | $13M | $63M | $16M | $5M | $39M | $45M | $5M | $4M | |
| Receivables | $37.0K | $75.0K | $26.0K | $588.0K | · | · | · | · | · | · | · | |
| Prepaid Expense | $1M | $2M | $781.0K | $773.0K | $1M | $1M | $1M | $992.0K | $1M | $1M | $1M | |
| Other Current Assets | $353.0K | $548.0K | $220.0K | $102.0K | $128.0K | $406.0K | $486.0K | $265.0K | $412.0K | $772.0K | $208.0K | |
| Current Assets | $58M | $54M | $28M | $44M | $71M | $45M | $79M | $116M | $91M | $136M | $96M | |
| PP&E (Net) | $220.0K | $151.0K | $236.0K | $353.0K | $451.0K | $906.0K | $1M | $2M | $3M | $3M | $2M | |
| PP&E (Gross) | $3M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $2M | |
| Accum. Depreciation | $3M | $5M | $5M | $5M | $4M | $4M | $3M | $2M | $2M | $729.0K | $135.0K | |
| Other Non-current Assets | $855.0K | $632.0K | $89.0K | $129.0K | $236.0K | $414.0K | $513.0K | $463.0K | $869.0K | $869.0K | · | |
| Total Assets | $71M | $69M | $46M | $68M | $109M | $86M | $84M | $118M | $95M | $140M | $98M | |
| Accounts Payable | $2M | $3M | $2M | $2M | $2M | $3M | $2M | $2M | $3M | $2M | $2M | |
| Accrued Liabilities | $6M | $4M | $4M | · | · | · | · | · | · | · | · | |
| Current Liabilities | $9M | $35M | $7M | $11M | $10M | $12M | $10M | $7M | $9M | $6M | $3M | |
| Capital Leases | $534.0K | $937.0K | · | $1M | $3M | $1M | $2M | · | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | $869.0K | $971.0K | $1M | $710.0K | |
| Total Liabilities | $10M | $36M | $7M | $12M | $12M | $13M | $13M | $8M | $10M | $7M | $4M | |
| Common Stock | $7.0K | $7.0K | $5.0K | $5.0K | $5.0K | $3.0K | $3.0K | $3.0K | $2.0K | $2.0K | · | |
| Paid-in Capital | $474M | $431M | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-412M | $-397M | $-335M | $-308M | $-266M | $-223M | $-217M | $-170M | $-124M | $-68M | $-31M | |
| AOCI | $-896.0K | $-1M | $-967.0K | $-563.0K | $2M | $4.0K | $29.0K | $-34.0K | $-41.0K | $-39.0K | $-45.0K | |
| Stockholders' Equity | $61M | $33M | $39M | $56M | $97M | $72M | $71M | $110M | $85M | $133M | $-31M | |
| Liabilities + Equity | $71M | $69M | $46M | $68M | $109M | $86M | $84M | $118M | $95M | $140M | $98M | |
| Shares Outstanding | 74,696,629 | 67,899,779 | 49,038,582 | 46,553,511 | 46,553,511 | 28,372,634 | 27,953,233 | 29,323,930 | 21,041,250 | 20,922,428 | 1,431,615 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $105.0K | $85.0K | $151.0K | $367.0K | $460.0K | $632.0K | $743.0K | $847.0K | $842.0K | $594.0K | $148.0K | |
| Stock-based Comp | $5M | $3M | $2M | $3M | $4M | $6M | $7M | $7M | $6M | $4M | $428.0K | |
| Other Non-cash | $-23M | $34M | $796.0K | $11M | $2M | $-35M | $1M | $-2M | · | · | · | |
| Operating Cash Flow | $-33M | $-25M | $-24M | $-27M | $-37M | $-35M | $-37M | $-41M | $-46M | $-28M | $-11M | |
| CapEx | $174.0K | · | $34.0K | $269.0K | $5.0K | $76.0K | $25.0K | $355.0K | $266.0K | $2M | $2M | |
| Investing Cash Flow | $-8M | $-27M | $16M | $-23M | $22M | $45M | $3M | $-30M | $85M | $-43M | $-92M | |
| Stock Issued | · | $16M | · | · | $32M | · | · | $65M | $711.0K | $71M | · | |
| Net Stock Activity | · | $16M | · | · | $32M | · | · | $65M | · | · | · | |
| Financing Cash Flow | $36M | $49M | $8M | $0 | $62M | $1M | $24.0K | $65M | $1M | $71M | $95M | |
| Net Change in Cash | $-4M | $-4M | $-539.0K | $-50M | $47M | $11M | $-34M | $-6M | $40M | $945.0K | $-8M | |
| Taxes Paid | $0 | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $-33M | · | $-24M | $-27M | $-37M | $-35M | $-37M | $-41M | · | · | · |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -21.8% | -108.9% | -47.5% | -46.5% | -44.4% | -7.1% | -46.2% | -44.1% | · | · | · | |
| ROE | -21.6% | -277.0% | -65.1% | -68.4% | -42.8% | -10.5% | -61.6% | -41.0% | · | · | · | |
| ROIC | -70.2% | -84.6% | -60.5% | -58.0% | -39.8% | -60.7% | -68.7% | -44.6% | · | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.2 | 1.5 | 4.1 | 4.1 | 7.4 | 3.7 | 7.8 | 16.4 | · | · | · | |
| Quick Ratio | 0.5 | 0.2 | 1.8 | 1.2 | 6.5 | 1.4 | 0.5 | 5.6 | · | · | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-15M | $-62M | $-27M | $-41M | $-43M | $-6M | $-47M | $-47M | $-56M | $-36M | · | |
| Market Cap | $575M | $363M | $86M | $40M | $112M | $101M | $152M | $108M | · | · | · | |
| P/E | -14.5 | -5.2 | -3.1 | -1.0 | -2.3 | -17.8 | -3.4 | · | · | · | · | |
| P/B | 9.4 | 11.2 | 2.2 | 0.7 | 1.2 | 1.4 | 2.1 | 1.0 | · | · | · | |
| P / Tangible Book | 9.4 | 11.2 | 2.2 | 0.7 | 1.2 | 1.4 | · | · | · | · | · | |
| P / Cash Flow | -17.5 | -14.3 | -3.6 | -1.5 | -3.1 | -2.9 | -4.1 | -2.6 | · | · | · | |
| P / FCF | -17.4 | · | -3.6 | -1.4 | -3.1 | -2.9 | -4.1 | -2.6 | · | · | · | |
| Earnings Yield | -6.9% | -19.1% | -31.8% | -104.7% | -42.7% | -5.6% | -29.2% | · | · | · | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $16M | $11M | $10M | $8M | $8M | $7M | $6M | $5M | $4M | $4M | $4M | $4M | $4M | $5M | $10M | $5M | |
| SG&A Expense | $3M | $4M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Operating Expenses | $19M | $15M | $12M | $11M | $10M | $10M | $8M | $7M | $6M | $6M | $6M | $6M | $6M | $7M | $12M | $7M | |
| Operating Income | $-19M | $-15M | $-12M | $-11M | $-10M | $-10M | $-8M | $-7M | $-6M | $-6M | $-6M | $-6M | $-6M | $-7M | $-12M | $-7M | |
| Other Non-op | · | $1M | · | $415.0K | $2M | $25M | · | $-33M | $2M | $-552.0K | · | · | · | · | · | · | |
| Pretax Income | $-17M | $-13M | $-12M | $-10M | $-8M | $16M | $-10M | $-40M | $-4M | $-6M | $-5M | $-5M | $-5M | $-6M | · | · | |
| Income Tax | $0 | $0 | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-18M | $-14M | $-12M | $-10M | $-8M | $15M | $-12M | $-40M | $-4M | $-6M | $-7M | $-6M | $-7M | $-8M | $-15M | $-8M | |
| EPS (Basic) | $-0.19 | $-0.15 | $-0.18 | $-0.12 | $-0.10 | $0.21 | $-0.23 | $-0.60 | $-0.07 | $-0.12 | $-0.13 | $-0.12 | $-0.14 | $-0.17 | $-0.32 | $-0.18 | |
| EPS (Diluted) | $-0.19 | $-0.15 | $-0.18 | $-0.12 | $-0.10 | $-0.13 | $-0.23 | $-0.60 | $-0.07 | $-0.12 | $-0.13 | $-0.12 | $-0.14 | $-0.17 | $-0.32 | $-0.18 | |
| Shares (Basic) | 92,368,013 | 89,996,728 | -153,772,367 | 82,836,369 | 77,774,344 | 72,126,496 | -114,464,768 | 66,701,086 | 59,710,265 | 49,038,582 | -94,999,564 | 48,971,246 | 47,497,414 | 46,556,178 | 46,553,511 | 46,553,511 | |
| Shares (Diluted) | 92,368,013 | 89,996,728 | -156,020,542 | 82,836,369 | 77,774,344 | 75,152,514 | -114,464,768 | 66,701,086 | 59,710,265 | 49,038,582 | -94,999,564 | 48,971,246 | 47,497,414 | 46,556,178 | 46,553,511 | 46,553,511 | |
| EBITDA | $-19M | $-15M | · | $-11M | $-10M | $-10M | · | $-7M | $-6M | $-6M | · | $-6M | $-6M | $-7M | $-12M | $-7M |
Balance Sheet 22
| 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 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $19M | $40M | $5M | $3M | $15M | $5M | $9M | $5M | $15M | $7M | · | $20M | $8M | $10M | $25M | $28M | |
| Receivables | $6.0K | $43.0K | $37.0K | $32.0K | $86.0K | $79.0K | $75.0K | $70.0K | $35.0K | $26.0K | · | $11.0K | · | · | · | · | |
| Prepaid Expense | $6M | $3M | $1M | $1M | $1M | $1M | $2M | $1M | $977.0K | $697.0K | · | $915.0K | $893.0K | $655.0K | $1M | $2M | |
| Other Current Assets | $575.0K | $367.0K | $318.0K | $509.0K | $569.0K | $458.0K | $548.0K | $633.0K | $240.0K | $267.0K | · | $214.0K | $136.0K | $131.0K | $397.0K | $395.0K | |
| Current Assets | $221M | $240M | $58M | $67M | $76M | $45M | $54M | $43M | $48M | $23M | · | $33M | $38M | $36M | $51M | $59M | |
| PP&E (Net) | $830.0K | $282.0K | $220.0K | $221.0K | $249.0K | $165.0K | $151.0K | $171.0K | $192.0K | $213.0K | · | $264.0K | $294.0K | $330.0K | $447.0K | $527.0K | |
| PP&E (Gross) | $4M | $3M | $3M | $3M | $3M | $3M | $5M | $5M | $5M | $5M | · | $5M | $5M | $5M | $5M | $5M | |
| Accum. Depreciation | $3M | $3M | $3M | $3M | $3M | $3M | $5M | $5M | $5M | $5M | · | $5M | $5M | $5M | $5M | $4M | |
| Other Non-current Assets | $2M | $2M | $855.0K | $852.0K | $626.0K | $629.0K | $632.0K | $252.0K | $129.0K | $89.0K | · | $89.0K | $129.0K | $129.0K | $248.0K | $236.0K | |
| Total Assets | $239M | $253M | $71M | $80M | $89M | $59M | $69M | $59M | $65M | $40M | · | $52M | $58M | $58M | $80M | $93M | |
| Accounts Payable | $4M | $5M | $2M | $2M | $3M | $1M | $3M | $2M | $1M | $2M | · | $1M | $2M | $1M | $4M | $3M | |
| Accrued Liabilities | $9M | $7M | $6M | $6M | $5M | $4M | $4M | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $14M | $12M | $9M | $8M | $9M | $9M | $35M | $46M | $13M | $7M | · | $7M | $8M | $8M | $14M | $10M | |
| Capital Leases | $274.0K | $406.0K | $534.0K | $632.0K | $728.0K | $834.0K | $937.0K | · | · | · | · | $354.0K | $700.0K | $1M | $2M | $2M | |
| Total Liabilities | $14M | $13M | $10M | $9M | $9M | $10M | $36M | $46M | $13M | $7M | · | $8M | $9M | $9M | $16M | $12M | |
| Common Stock | $8.0K | $8.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $6.0K | $6.0K | $5.0K | · | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | |
| Paid-in Capital | $671M | $668M | $474M | · | · | · | $431M | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-444M | $-426M | $-412M | $-400M | $-390M | $-382M | $-397M | $-385M | $-345M | $-340M | · | $-328M | $-322M | $-316M | $-298M | $-283M | |
| AOCI | $-1M | $-1M | $-896.0K | $-1M | $-1M | $-1M | $-1M | $-738.0K | $-1M | $-1M | · | $-1M | $-1M | $-434.0K | $-1M | $339.0K | |
| Stockholders' Equity | $225M | $241M | $61M | $72M | $80M | $49M | $33M | $12M | $51M | $33M | $39M | $44M | $49M | $49M | $65M | $80M | |
| Liabilities + Equity | $239M | $253M | $71M | $80M | $89M | $59M | $69M | $59M | $65M | $40M | · | $52M | $58M | $58M | $80M | $93M | |
| Shares Outstanding | 84,120,944 | 84,090,424 | 74,696,629 | 74,681,872 | 74,514,039 | 68,169,461 | 67,899,779 | 62,580,031 | 62,551,281 | 49,038,582 | · | 49,038,582 | 48,898,362 | 46,568,511 | 46,553,511 | 46,553,511 |
Cash Flow 11
| 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 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $34.0K | $29.0K | $26.0K | $28.0K | $29.0K | $22.0K | $20.0K | $21.0K | $21.0K | $23.0K | $28.0K | $30.0K | $36.0K | $57.0K | $94.0K | $92.0K | |
| Stock-based Comp | $3M | $3M | $2M | $1M | $1M | $1M | $813.0K | $733.0K | $768.0K | $689.0K | $572.0K | $546.0K | $537.0K | $492.0K | $658.0K | $675.0K | |
| Other Non-cash | · | $639.0K | · | · | · | $-25M | · | · | · | $-168.0K | · | · | · | $-787.0K | · | · | |
| Operating Cash Flow | $-15M | $-10M | $-9M | $-10M | $-6M | $-8M | $-8M | $-6M | $-5M | $-5M | $-5M | $-5M | $-5M | $-8M | $-7M | $-6M | |
| CapEx | $582.0K | $91.0K | $25.0K | $0 | $113.0K | $36.0K | · | · | · | · | $0 | $0 | $0 | $34.0K | $265.0K | · | |
| Investing Cash Flow | $-6M | $-145M | $11M | $-3M | $-20M | $4M | $-6M | $-4M | $-18M | $-7.0K | $-2M | $18M | $-4M | $5M | $3M | $3M | |
| Stock Issued | $0 | $189M | · | · | · | · | $0 | $0 | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $189M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $166.0K | $191M | $20.0K | $360.0K | $36M | $279.0K | $19M | $50.0K | · | · | $0 | $335.0K | $8M | $4.0K | · | · | |
| Net Change in Cash | $-21M | $36M | $2M | $-12M | $10M | $-4M | $4M | $-10M | $7M | $-5M | $-7M | $12M | $-2M | $-4M | $-4M | $-3M | |
| Free Cash Flow | · | $-10M | · | · | · | $-8M | · | · | · | · | · | · | · | $-8M | · | · |
Profitability 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 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -10.9% | -8.8% | · | -14.6% | -10.4% | 30.5% | · | -72.6% | -7.0% | -11.6% | · | -9.1% | -8.6% | -9.9% | -14.9% | -8.3% | |
| ROE | -11.8% | -9.4% | · | -24.1% | -12.2% | 36.8% | · | -141.9% | -8.5% | -13.9% | · | -11.0% | -10.0% | -11.4% | -17.5% | -9.5% | |
| ROIC | · | -6.2% | · | · | · | · | · | · | · | -18.7% | · | · | · | · | · | · |
Liquidity & Solvency 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 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 16.2 | 19.8 | · | 8.3 | 8.9 | 4.9 | · | 0.9 | 3.6 | 3.4 | · | 4.5 | 4.8 | 4.3 | 3.7 | 5.8 | |
| Quick Ratio | 1.4 | 3.3 | · | 0.4 | 1.7 | 0.5 | · | 0.1 | 1.1 | 1.1 | · | 2.8 | 1.0 | 1.2 | 1.8 | 2.8 |
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 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-50M | $-17M | · | $-43M | $-37M | $-35M | · | $-56M | $-22M | $-26M | · | $-35M | $-38M | $-39M | $-42M | $-39M | |
| Market Cap | $1.26B | $1.23B | · | $550M | $298M | $217M | · | $330M | $114M | $87M | · | $72M | $112M | $42M | $38M | $46M | |
| P/E | -26.7 | -29.3 | · | -7.8 | -4.4 | -3.5 | · | -5.8 | -4.0 | -3.2 | · | -1.9 | -2.8 | -1.1 | -0.9 | -1.2 | |
| P/B | 5.6 | 5.1 | · | 7.7 | 3.7 | 4.4 | · | 26.6 | 2.2 | 2.6 | · | 1.6 | 2.3 | 0.9 | 0.6 | 0.6 | |
| P / Tangible Book | 5.6 | 5.1 | · | 7.7 | 3.7 | 4.4 | · | 26.6 | 2.2 | 2.6 | · | 1.6 | 2.3 | 0.9 | 0.6 | 0.6 | |
| P / Cash Flow | · | -118.6 | · | · | · | -26.2 | · | · | · | -16.9 | · | · | · | -5.2 | · | · | |
| P / FCF | · | -117.6 | · | · | · | -26.1 | · | · | · | · | · | · | · | -5.2 | · | · | |
| Earnings Yield | -3.8% | -3.4% | · | -12.9% | -22.5% | -28.9% | · | -17.2% | -24.7% | -30.9% | · | -51.4% | -35.4% | -93.4% | -107.5% | -80.8% |
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 | |
|---|---|---|---|---|---|
| Net Income | $-15M | $-62M | $-27M | $-41M | $-43M |
| Diluted EPS | $-0.53 | $-1.02 | $-0.56 | $-0.89 | $-1.03 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 6.2 | 1.5 | 4.1 | 4.1 | 7.4 |
| Quick Ratio | 0.5 | 0.2 | 1.8 | 1.2 | 6.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-33M | — | $-24M | $-27M | $-37M |
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Institutional owners (13F) 189 filers · $850.4M 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 47 (-18 vs prior Q) | 28 (+7 vs prior Q) | 68 (+9 vs prior Q) | 40 (+13 vs prior Q) | +7.8M |
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 |
|---|---|---|---|---|
| ORBIMED ADVISORS LLC | $107,045,190 | 7,165,006 | 12.59% | Shares |
| STATE STREET CORP | $66,842,920 | 4,474,091 | 7.86% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $49,193,087 | 3,292,710 | 5.78% | Shares |
| ADAMS STREET PARTNERS LLC | $48,937,703 | 3,275,616 | 5.75% | Shares |
| Vivo Capital, LLC | $41,918,891 | 2,805,816 | 4.93% | Shares |
| PERCEPTIVE ADVISORS LLC | $39,851,569 | 2,667,441 | 4.69% | Shares |
| Deep Track Capital, LP | $37,229,569 | 2,491,939 | 4.38% | Shares |
| BRAIDWELL LP | $31,766,892 | 2,126,298 | 3.74% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $28,099,301 | 1,880,810 | 3.30% | Shares |
| Foresite Capital Management VI LLC | $27,358,621 | 1,831,233 | 3.22% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $23,775,864 | 1,590,939 | 2.80% | Shares |
| Hood River Capital Management LLC | $23,482,767 | 1,571,805 | 2.76% | Shares |
| GOLDMAN SACHS GROUP INC | $19,824,246 | 1,326,924 | 2.33% | Shares |
| Boxer Capital Management, LLC | $16,434,000 | 1,100,000 | 1.93% | Shares |
| Catalio Capital Management, LP | $16,148,467 | 1,080,888 | 1.90% | Shares |
| MILLENNIUM MANAGEMENT LLC | $15,656,896 | 1,047,985 | 1.84% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $12,172,365 | 814,750 | 1.43% | Shares |
| TWO SIGMA INVESTMENTS, LP | $11,731,008 | 785,208 | 1.38% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $11,205,000 | 750,000 | 1.32% | Shares |
| Eversept Partners, LP | $11,175,030 | 747,994 | 1.31% | Shares |
| EMERALD ADVISERS, LLC | $10,244,104 | 685,683 | 1.20% | Shares |
| BANK OF AMERICA CORP /DE/ | $10,073,400 | 674,257 | 1.18% | Shares |
| DCF Advisers, LLC | $9,524,250 | 637,500 | 1.12% | Shares |
| Blue Owl Capital Holdings LP | $9,092,484 | 608,600 | 1.07% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $8,739,900 | 585,000 | 1.03% | Call option |
| EMERALD MUTUAL FUND ADVISERS TRUST | $7,864,252 | 526,389 | 0.92% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $7,776,688 | 520,528 | 0.91% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $6,723,000 | 450,000 | 0.79% | Shares |
| Nextech Invest Ltd. | $6,723,000 | 450,000 | 0.79% | Shares |
| CITADEL ADVISORS LLC | $6,675,192 | 446,800 | 0.78% | Call option |
| CITADEL ADVISORS LLC | $5,945,388 | 397,951 | 0.70% | Shares |
| Jump Financial, LLC | $4,682,196 | 313,400 | 0.55% | Shares |
| BARCLAYS PLC | $4,589,313 | 307,183 | 0.54% | Shares |
| Trexquant Investment LP | $4,427,424 | 296,347 | 0.52% | Shares |
| DIADEMA PARTNERS LP | $4,404,476 | 294,811 | 0.52% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,101,030 | 274,500 | 0.48% | Put option |
| Polymer Capital Management (HK) LTD | $3,939,110 | 263,662 | 0.46% | Shares |
| Brevan Howard Capital Management LP | $3,739,348 | 250,291 | 0.44% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $3,659,717 | 244,961 | 0.43% | Shares |
| Spruce Street Capital LP | $3,459,880 | 231,585 | 0.41% | Shares |
| SEB Asset Management AB | $3,388,938 | 226,837 | 0.40% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $3,298,169 | 220,761 | 0.39% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $3,253,185 | 217,750 | 0.38% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $3,109,298 | 208,119 | 0.37% | Shares |
| CITADEL ADVISORS LLC | $2,959,614 | 198,100 | 0.35% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,848,177 | 190,641 | 0.33% | Shares |
| Caption Management, LLC | $2,838,600 | 190,000 | 0.33% | Call option |
| F/m Investments LLC | $2,497,445 | 167,165 | 0.29% | Shares |
| JANE STREET GROUP, LLC | $2,094,588 | 140,200 | 0.25% | Call option |
| BlackRock, Inc. | $2,085,251 | 139,575 | 0.25% | Shares |
| DIADEMA PARTNERS LP | $1,992,996 | 133,400 | 0.23% | Call option |
| Swiss National Bank | $1,889,910 | 126,500 | 0.22% | Shares |
| Aquatic Capital Management LLC | $1,762,920 | 118,000 | 0.21% | Shares |
| ADAR1 Capital Management, LLC | $1,749,489 | 117,101 | 0.21% | Shares |
| CITIGROUP INC | $1,664,555 | 111,416 | 0.20% | Shares |
| Caption Management, LLC | $1,664,316 | 111,400 | 0.20% | Put option |
| MARSHALL WACE, LLP | $1,501,082 | 100,474 | 0.18% | Shares |
| SIMPLEX TRADING, LLC | $1,379,604 | 92,343 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,322,845 | 90,420 | 0.16% | Shares |
| RHUMBLINE ADVISERS | $1,285,128 | 86,020 | 0.15% | Shares |
| ALPS ADVISORS INC | $1,274,980 | 85,340 | 0.15% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $1,238,631 | 82,907 | 0.15% | Shares |
| Seven Fleet Capital Management LP | $1,238,377 | 82,890 | 0.15% | Shares |
| TD Asset Management Inc | $1,233,984 | 82,596 | 0.15% | Shares |
| Rafferty Asset Management, LLC | $1,217,520 | 81,494 | 0.14% | Shares |
| SEI INVESTMENTS CO | $1,195,290 | 80,006 | 0.14% | Shares |
| Avidity Partners Management LP | $1,195,200 | 80,000 | 0.14% | Shares |
| Persistent Asset Partners Ltd | $1,117,452 | 74,796 | 0.13% | Shares |
| Bank of New York Mellon Corp | $1,094,011 | 73,227 | 0.13% | Shares |
| Propel Bio Management, LLC | $1,051,477 | 70,380 | 0.12% | Shares |
| TOWERVIEW LLC | $1,045,800 | 70,000 | 0.12% | Shares |
| D. E. Shaw & Co., Inc. | $967,768 | 64,777 | 0.11% | Shares |
| Caption Management, LLC | $956,668 | 64,034 | 0.11% | Shares |
| JACKSON SQUARE CAPITAL, LLC | $952,769 | 63,773 | 0.11% | Shares |
| WELLS FARGO & COMPANY/MN | $920,155 | 61,590 | 0.11% | Shares |
| TUDOR INVESTMENT CORP ET AL | $902,376 | 60,400 | 0.11% | Call option |
| Ancora Advisors LLC | $847,442 | 56,723 | 0.10% | Shares |
| SEVEN GRAND MANAGERS, LLC | $747,000 | 50,000 | 0.09% | Shares |
| GROUP ONE TRADING LLC | $721,482 | 48,292 | 0.08% | Shares |
| Vanguard Global Advisers, LLC | $712,459 | 47,688 | 0.08% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $660,632 | 44,219 | 0.08% | Shares |
| Squarepoint Ops LLC | $660,423 | 44,205 | 0.08% | Shares |
| Y-Intercept (Hong Kong) Ltd | $653,909 | 43,769 | 0.08% | Shares |
| TEMA ETFS LLC | $613,675 | 79,698 | 0.07% | Shares |
| PROFUND ADVISORS LLC | $613,197 | 41,044 | 0.07% | Shares |
| MetLife Investment Management, LLC | $592,341 | 39,648 | 0.07% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $559,159 | 37,427 | 0.07% | Shares |
| AVITY INVESTMENT MANAGEMENT INC. | $555,021 | 37,150 | 0.07% | Shares |
| Engineers Gate Manager LP | $538,124 | 36,019 | 0.06% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $494,365 | 33,090 | 0.06% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $414,719 | 27,759 | 0.05% | Shares |
| Optimize Financial Inc | $410,518 | 28,060 | 0.05% | Shares |
| Virtus Investment Advisers, LLC | $409,759 | 27,427 | 0.05% | Shares |
| ACT CAPITAL MANAGEMENT, LLC | $403,380 | 27,000 | 0.05% | Shares |
| Invesco Ltd. | $402,917 | 26,969 | 0.05% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $374,994 | 25,100 | 0.04% | Shares |
| SIMON QUICK ADVISORS, LLC | $373,500 | 25,000 | 0.04% | Shares |
| PEAK6 LLC | $352,584 | 23,600 | 0.04% | Call option |
| WINTON GROUP Ltd | $346,608 | 23,200 | 0.04% | Shares |
| TUDOR INVESTMENT CORP ET AL | $328,560 | 21,992 | 0.04% | Shares |
Company insiders 19 insiders · 8 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Richard A Miller MD | President and CEO | March 31, 2023 A | 1,163,507 | 0 | 0 | $0 |
| Leiv Lea | Chief Financial Officer | Dec. 21, 2018 P | 24,700 | 0 | 0 | $0 |
| Mehrdad Mobasher | Chief Medical Officer | Jan. 28, 2019 A | — | 0 | 0 | $0 |
| Daniel W. Hunt | SVP, Chief Business Officer | Dec. 12, 2018 A | — | 0 | 0 | $0 |
| William Benton Jones | SVP, Pharmaceutical Development | Dec. 12, 2018 A | — | 0 | 0 | $0 |
| Erik J. Verner | V.P., Chemistry Research | Dec. 12, 2018 A | — | 0 | 0 | $0 |
| Joseph J Buggy | EVP Discovery Research | Dec. 12, 2018 A | — | 0 | 0 | $0 |
| Jason V Coloma | SVP, Chief Business Officer | June 8, 2016 A | — | 0 | 0 | $0 |
| David Scott Moore | Director | June 11, 2026 A | 21,700 | 1 | 0 | $250,201 |
| Richard Van Den Broek | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Linda S Grais | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Peter A. Thompson | Director | June 11, 2026 A | 210,000 | 0 | 0 | $0 |
| Ian T Clark | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Steve E. Krognes | Director | June 20, 2019 A | — | 0 | 0 | $0 |
| Scott W Morrison | Director | June 20, 2019 A | — | 0 | 0 | $0 |
| Terry P Gould | Director | June 20, 2019 A | 126,806 | 0 | 0 | $0 |
| ORBIMED ADVISORS LLC | Director | March 29, 2016 C | 5,258,450 | 0 | 0 | $0 |
| Adams Street Partners, LLC | 10% owner | Aug. 11, 2022 A | 126,806 | 0 | 0 | $0 |
| Novo Holdings A/S | 10% owner | July 8, 2020 S | 1,389,498 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Adams Street Partners, LLC, Adams Street 2011 Direct Fund LP, Adams Street 2012 Direct Fund LP, Adams Street 2013 Direct Fund LP, Adams Street 2014 Direct Fund LP, Adams Street 2015 Direct Venture/Growth Fund LP, Adams Street 2016 Direct Venture/Growth Fund LP, Adams Street 2017 Direct Venture/Growth Fund LP, Adams Street 2018 Direct Venture/Growth Fund LP, Adams Street Venture/Growth Fund VI LP ×2 filings | Feb. 5, 2026 | 3.90% | Amendment | — | SEC |
| ORBIMED ADVISORS LLC, ORBIMED CAPITAL GP V LLC ×13 filings | Jan. 27, 2026 | 10.30% | Amendment | — | SEC |
| Novo Holdings A/S ×2 filings | July 9, 2020 | — | Initial filing | — | SEC |
| Novo Holdings A/S (formerly known as Novo A/S) | Jan. 31, 2019 | — | Initial filing | — | SEC |
| Novo A/S | March 30, 2016 | — | 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 36 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 |
|---|---|---|---|---|
| LFSC · RBB Fund, Inc. | 1.95% | 165,305 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 1.34% | 32,976 NS | April 30, 2026 | N-PORT |
| IDNA · iShares Trust | 0.96% | 137,099 SH | Aug. 8, 2026 | Daily |
| CANC · Tema ETF Trust | 0.76% | 108,477 NS | May 31, 2026 | N-PORT |
| SBIO · ALPS ETF Trust | 0.66% | 86,347 NS | May 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.35% | 121,201 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.21% | 229,721 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.12% | 156,977 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.08% | 4,574 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.07% | 467,057 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.06% | 72,574 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.06% | 620,432 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.05% | 3,054 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.04% | 29,277 NS | May 31, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.04% | 46,535 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.03% | 390,005 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.03% | 1,735,953 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 27,905 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 3,029 NS | May 31, 2026 | N-PORT |
| TECB · iShares Trust | 0.02% | 6,211 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.02% | 8,903 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.01% | 2,886 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 2,369 NS | May 31, 2026 | N-PORT |
| SMLF · iShares Trust | 0.01% | 35,858 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.01% | 7,654 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 844,478 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 189,601 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 4,445 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 2,398 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 60 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 27,317 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,515 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 109,007 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 22,441 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,374,106 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 5,593 SH | Aug. 8, 2026 | Daily |