DCTH Delcath Systems, Inc. - Common Stock
$17.21
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$8–$17
98% of range
Analyst Rating
BUY
12 analysts
Price Target
$24
+39% upside
P/E (TTM)
245.9
ROE
2.5%
Net Profit Margin
3.2%
About Delcath Systems, Inc. - Common Stock Company overview from Wikipedia
Delcath Systems, Inc. is a publicly traded specialty pharmaceutical and medical device company, that develops percutaneous perfusion technologies for the targeted administration of high-dose chemotherapeutic agents to specific organs or regions of the body. Based in Queensbury, New York, the company has an intellectual property portfolio consisting of 28 patents worldwide. Delcath's Percutaneous Hepatic Perfusion (PHP) is currently undergoing Phase II and Phase III trials against tumors in the liver. Delcath has a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute and has received Fast Track and a Special Protocol Assessment from the Food and Drug Administration for its use of melphalan in treating unresectable liver tumors. PHP, also known as the Delcath System, is tested for the treatment of metastatic melanoma in the liver and for primary liver cancer and metastatic hepatic malignancies from neuroendocrine cancers and adenocarcinomas, as well as patients with melanoma who previously received isolated perfusion. Chemotherapy is usually delivered intravenously, although a number of agents can be administered orally.
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Delcath Systems, Inc. (NASDAQ: DCTH) is a publicly traded specialty pharmaceutical and medical device company, that develops percutaneous perfusion technologies for the targeted administration of high-dose chemotherapeutic agents to specific organs or regions of the body. Based in Queensbury, New York, the company has an intellectual property portfolio consisting of 28 patents worldwide. Delcath's Percutaneous Hepatic Perfusion (PHP) is currently undergoing Phase II and Phase III trials against tumors in the liver. Delcath has a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute and has received Fast Track and a Special Protocol Assessment from the Food and Drug Administration for its use of melphalan in treating unresectable liver tumors. PHP, also known as the Delcath System, is tested for the treatment of metastatic melanoma in the liver and for primary liver cancer and metastatic hepatic malignancies from neuroendocrine cancers and adenocarcinomas, as well as patients with melanoma who previously received isolated perfusion. Chemotherapy is usually delivered intravenously, although a number of agents can be administered orally (e.g. specialty drugs, melphalan (trade name Alkeran), busulfan, capecitabine).
## Phase III melanoma trial enrolling
University of Pittsburgh Medical Center
National Cancer Institute in Bethesda, Maryland
Albany Medical Center in Albany, New York
John Wayne Cancer Center in Santa Monica, California
Moffitt Cancer Center in Tampa, Florida
Morristown Memorial Hospital in Morristown, New Jersey
Providence Cancer Center in Portland, Oregon
St. Luke's Cancer Center of Bethlehem, Pennsylvania
Swedish Medical Center in Englewood, Colorado
University of Maryland Medical Center in Baltimore, Maryland
University of Texas Medical Branch in Galveston, Texas
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
DCTH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$17.21
Market Cap
$597M
P/E (TTM)
245.9
EPS (TTM)
$0.07
Revenue (TTM)
$85M
Div Yield
—
ROE
2.5%
Debt/Equity
—
52W Range
$8 – $17
DCTH 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
$85M
2016-12-31
→
2025-12-31
EPS
$0.07
2017-12-31
→
2025-12-31
Free Cash Flow
$21M
2018-12-31
→
2025-12-31
Margins
3.2%
2022-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
DCTH
Peer Median
P/E (TTM)
245.9
32.9
P/S (TTM)
7.0
4.6
P/B
5.4
3.5
Price / FCF
28.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
DCTH
Peer Median
Gross Margin
86.2%
66.5%
Operating Margin
0.77%
—
Net Profit Margin
3.2%
-9.8%
ROA
2.7%
-8.8%
ROE
2.5%
-15.5%
ROIC
0.46%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
DCTH
Peer Median
Current Ratio
10.9
4.8
Quick Ratio
5.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
DCTH
Peer Median
Revenue YoY
129.1%
—
Revenue CAGR 3Y
215.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
DCTH
Peer Median
DCTH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 3 25.0%
- Buy 8 66.7%
- Hold 1 8.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-18
Median
$22.00
Mean
$24.00
← Below all targets
$17.21
Low
$21.00
High
$32.00
Median target
$22.00
+27.8%
Mean target
$24.00
+39.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.05%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.07 | $-0.09 | 0.16% |
| March 31, 2026 | $-0.03 | $-0.09 | 0.06% |
| Dec. 31, 2025 | $-0.05 | $-0.06 | 0.01% |
| Sept. 30, 2025 | $0.02 | $0.02 | -0.00% |
| June 30, 2025 | $0.07 | $0.03 | 0.04% |
| March 31, 2025 | $0.03 | $0.02 | 0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| DCTH | $350M | 144.3 | 129.1% | 3.2% | 2.5% | 86.2% |
| SIBN | $861M | -44.8 | 20.2% | -9.4% | -10.9% | 79.6% |
| SSII | — | -94.7 | 105.7% | — | — | — |
| ANGO | $479M | -13.0 | 9.5% | -11.5% | -21.2% | 54.6% |
| TCMD | $651M | 35.4 | 12.5% | 5.8% | 9.2% | 75.9% |
| NPCE | $518M | -23.4 | 25.1% | -21.5% | -111.6% | 77.2% |
| CLPT | $402M | -15.2 | 17.8% | -69.1% | -106.9% | 61.4% |
| SGHT | $424M | -10.7 | -3.1% | -49.7% | -57.4% | 86.2% |
| SENS | $228M | -3.3 | 56.9% | -196.0% | -88.7% | 44.7% |
| ABT | $250.18B | 33.7 | 5.7% | 14.7% | 13.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $85M | $37M | $2M | $3M | $4M | · | · | · | $3M | $2M | $2M | $1M | |
| Cost of Revenue | $12M | $6M | $635.0K | $686.0K | $671.0K | $640.0K | $719.0K | $1M | $701.0K | $550.0K | $462.0K | $291.0K | |
| Gross Profit | $73M | $31M | $1M | $2M | $3M | $1M | $861.0K | $2M | $2M | $1M | $1M | $778.0K | |
| R&D Expense | $29M | $14M | $18M | $19M | $14M | $11M | $9M | $20M | $10M | $8M | $6M | $4M | |
| SG&A Expense | $44M | $30M | $22M | $17M | $14M | $11M | $11M | $10M | $10M | $9M | $10M | $16M | |
| Operating Expenses | $73M | $43M | $40M | $36M | $27M | $22M | $21M | $29M | $20M | $18M | $16M | $20M | |
| Operating Income | $660.0K | $-12M | $-38M | $-34M | $-25M | $-21M | $-20M | $-27M | $-18M | $-16M | $-15M | $-19M | |
| Interest Expense | · | · | · | · | · | · | · | · | $22M | $14M | $67.0K | · | |
| Interest Income | · | · | · | · | · | · | · | · | · | $17.0K | $9.0K | $5.0K | |
| Other Non-op | $-70.0K | $-30.0K | $-59.0K | $30.0K | $68.0K | $154.0K | $2.0K | $51.0K | $-41.0K | $17.0K | $9.0K | $-24.0K | |
| Pretax Income | $4M | $-26M | $-48M | $-37M | $-26M | $-24M | $-9M | $-19M | $-45M | $-18M | $-15M | $-17M | |
| Income Tax | $810.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $3M | $-26M | $-48M | $-37M | $-26M | $-24M | $-9M | $-19M | $-45M | $-18M | $-15M | $-17M | |
| EPS (Basic) | $0.08 | $-0.93 | $-2.94 | $-4.12 | $-3.59 | $-8.35 | $-342.83 | $-0.72 | $-3250.00 | · | $-0.91 | $-1.84 | |
| EPS (Diluted) | $0.07 | $-0.93 | $-2.94 | $-4.12 | $-3.59 | $-8.35 | $-342.83 | $-0.72 | $-3250.00 | · | $-0.91 | $-1.84 | |
| Shares (Basic) | 35,821,157 | 28,511,393 | 16,229,931 | 8,864,615 | 7,145,754 | 2,897,827 | 25,900 | 26,705,375 | 14,039 | · | 16,161,687 | 9,452,050 | |
| Shares (Diluted) | 39,919,557 | 28,511,393 | 16,229,931 | 8,864,615 | 7,145,754 | 2,897,827 | 25,900 | 26,705,375 | 14,039 | · | 16,161,687 | 9,452,050 | |
| EBITDA | $660.0K | $-12M | $-38M | $-34M | $-25M | $-21M | $-20M | $-27M | · | · | $-15M | $-19M |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $43M | $32M | $13M | $8M | $23M | $29M | $10M | $3M | $4M | $4M | $13M | $20M | |
| Receivables | $12M | $11M | $241.0K | $366.0K | $44.0K | $57.0K | $21.0K | $585.0K | $317.0K | $403.0K | $277.0K | $174.0K | |
| Inventory | $10M | $7M | $3M | $2M | $1M | $855.0K | $654.0K | $858.0K | $1M | $660.0K | $757.0K | $349.0K | |
| Prepaid Expense | $6M | $3M | $1M | $2M | $3M | $3M | $2M | $898.0K | $700.0K | $698.0K | $960.0K | $974.0K | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | · | · | $222.0K | |
| Current Assets | $120M | $74M | $37M | $16M | $31M | $32M | $13M | $6M | $8M | $34M | $15M | $22M | |
| PP&E (Net) | $3M | $2M | $1M | $1M | $1M | $1M | $735.0K | $925.0K | $1M | $1M | $1M | $2M | |
| PP&E (Gross) | $8M | $7M | $6M | $6M | $6M | $6M | $5M | $5M | $5M | $5M | $5M | $6M | |
| Accum. Depreciation | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $4M | $4M | $4M | |
| Total Assets | $124M | $77M | $39M | $18M | $33M | $35M | $14M | $7M | $9M | $35M | $16M | $24M | |
| Accounts Payable | $3M | $961.0K | $1M | $2M | $638.0K | $2M | $5M | $8M | $4M | $594.0K | $284.0K | $748.0K | |
| Accrued Liabilities | $8M | $5M | $5M | $5M | $4M | $5M | $7M | $8M | $3M | $3M | $2M | $4M | |
| Current Liabilities | $11M | $6M | $16M | $15M | $6M | $10M | $16M | $18M | $8M | $36M | $6M | $5M | |
| Capital Leases | $835.0K | $933.0K | $0 | · | $207.0K | $450.0K | $197.0K | $0 | · | · | · | · | |
| Other Non-current Liabilities | $628.0K | $766.0K | $840.0K | $1M | $207.0K | · | $0 | $628.0K | $395.0K | $604.0K | $820.0K | $1M | |
| Total Liabilities | $12M | $8M | $23M | $24M | $21M | $13M | $21M | $22M | $8M | $37M | $7M | $6M | |
| Long-term Debt | · | $0 | $10M | $16M | · | · | · | · | · | · | · | · | |
| Common Stock | $347.0K | $331.0K | $228.0K | $100.0K | $79.0K | $60.0K | $1.0K | $0 | $2.0K | $0 | $14.0K | $97.0K | |
| Paid-in Capital | $639M | $600M | $521M | $452M | $433M | $417M | $365M | $329M | $326M | $278M | $270M | $265M | |
| Retained Earnings | $-529M | $-532M | $-505M | $-457M | $-421M | $-395M | $-371M | $-344M | $-325M | $-279M | $-261M | $-247M | |
| Treasury Stock | · | · | · | · | · | · | · | $0 | $51.0K | $51.0K | $51.0K | $51.0K | |
| AOCI | $575.0K | $82.0K | $135.0K | $-83.0K | $18.0K | $-104.0K | $28.0K | $50.0K | $42.0K | $-41.0K | $-8.0K | $20.0K | |
| Stockholders' Equity | $111M | $69M | $16M | $-6M | $12M | $22M | $-6M | $-15M | $678.0K | $-1M | $9M | $18M | |
| Liabilities + Equity | $124M | $77M | $39M | $18M | $33M | $35M | $14M | $7M | $9M | $35M | $16M | $24M | |
| Shares Outstanding | 34,691,671 | 33,061,002 | 22,761,554 | 10,046,571 | 7,906,728 | 5,996,101 | 67,091 | 14,715 | 228,139 | 11,750 | 1,360,239 | 9,708,841 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Tax | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $23M | $-19M | $-31M | $-25M | $-23M | $-23M | $-24M | $-15M | $-15M | $-14M | $-16M | $-16M | |
| CapEx | $2M | $559.0K | $58.0K | $209.0K | $143.0K | $782.0K | $24.0K | $76.0K | $524.0K | $258.0K | $170.0K | $44.0K | |
| Investing Cash Flow | $-27M | $-981.0K | $-20M | $-209.0K | $-143.0K | $-782.0K | $-24.0K | $-76.0K | $-524.0K | · | · | · | |
| Net Debt Issued | · | $-11M | $-6M | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $481.0K | $250.0K | $123.0K | $0 | $2M | $230.0K | $0 | $11M | · | · | · | · | |
| Stock Repurchased | $6M | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-6M | $250.0K | $123.0K | · | $2M | $230.0K | $0 | · | · | · | · | · | |
| Financing Cash Flow | $15M | $39M | $52M | $10M | $21M | $42M | $30M | $13M | $-11M | · | · | · | |
| Net Change in Cash | $11M | $20M | $874.0K | $-15M | $-2M | $19M | $7M | $-2M | $-26M | $-8M | $-8M | $-11M | |
| Taxes Paid | $2M | $0 | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $21M | $-19M | $-31M | $-25M | $-23M | $-24M | $-24M | $-15M | · | · | $-17M | $-16M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.2% | 83.4% | 69.2% | 74.8% | · | · | · | · | · | · | 73.6% | 72.8% | |
| Operating Margin | 0.77% | -33.4% | -1849.0% | -1245.0% | · | · | · | · | · | · | -870.6% | -1805.8% | |
| Net Margin | 3.2% | -70.9% | -2308.9% | -1342.7% | · | · | · | · | · | · | -841.7% | -1625.9% | |
| Pretax Margin | 4.1% | -70.9% | -2308.9% | -1342.7% | · | · | · | · | · | · | -841.7% | · | |
| EBITDA Margin | 0.77% | -33.4% | -1849.0% | -1245.0% | · | · | · | · | · | · | -870.6% | -1805.8% | |
| ROA | 2.7% | -45.8% | -168.8% | -143.2% | -75.7% | -98.9% | -84.3% | -244.4% | · | · | -74.5% | -57.1% | |
| ROE | 2.5% | -68.2% | -235.5% | 657.5% | -216.7% | -190.6% | 70.5% | 194.1% | · | · | -109.9% | -72.0% | |
| ROIC | 0.46% | -18.1% | -242.0% | 577.8% | -205.3% | -96.5% | 313.2% | · | · | · | -176.8% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.9 | 12.0 | 2.3 | 1.1 | 5.2 | 3.2 | 0.8 | 0.3 | · | · | 2.3 | 4.8 | |
| Quick Ratio | 5.0 | 7.0 | 0.8 | 0.5 | 3.8 | 2.9 | 0.6 | 0.2 | · | · | 2.0 | 4.5 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.9 | 0.6 | 0.1 | 0.1 | · | · | · | · | · | · | 0.1 | 0.0 | |
| Inventory Turnover | 1.4 | 1.2 | 0.2 | 0.4 | 0.6 | 0.8 | 1.0 | 1.0 | · | · | 0.8 | 0.5 | |
| Receivables Turnover | 7.5 | 6.7 | 6.8 | 13.3 | · | · | · | · | · | · | 7.7 | 4.1 |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 129.1% | 1701.7% | -24.1% | -23.5% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 215.3% | 118.7% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $85M | $37M | $2M | $3M | $4M | $3M | $3M | $3M | $3M | $2M | $2M | $1M | |
| Net Income TTM | $3M | $-26M | $-48M | $-37M | $-26M | $-24M | $-9M | $-19M | $-45M | $-18M | $-15M | $-17M | |
| Market Cap | $350M | $398M | $95M | $28M | $61M | $107M | $1M | $2.01B | · | · | · | · | |
| P/E | 144.3 | -12.9 | -1.4 | -0.9 | -2.2 | -2.1 | -0.1 | -272.2 | · | · | · | · | |
| P/S | 4.1 | 10.7 | 45.9 | 10.5 | 17.2 | 34.8 | 0.5 | 649.3 | · | · | · | · | |
| P/B | 3.2 | 5.8 | 6.0 | -4.9 | 5.1 | 4.9 | -0.2 | -134.2 | · | · | · | · | |
| P / Tangible Book | 3.2 | 5.8 | 6.0 | · | 5.1 | 4.9 | · | · | · | · | · | · | |
| P / Cash Flow | 15.6 | -21.3 | -3.0 | -1.1 | -2.7 | -4.7 | -0.1 | -136.1 | · | · | · | · | |
| P / FCF | 16.7 | -20.7 | -3.0 | -1.1 | -2.7 | -4.5 | -0.1 | -135.4 | · | · | · | · | |
| Earnings Yield | 0.69% | -7.7% | -70.7% | -114.4% | -46.3% | -46.6% | -1613.3% | -0.37% | · | · | · | · |
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 | $29M | $25M | $21M | $21M | $24M | $20M | $15M | $11M | $8M | $3M | $539.0K | $434.0K | $495.0K | $597.0K | $638.0K | $906.0K | |
| Cost of Revenue | $3M | $4M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $903.0K | $171.0K | $133.0K | $150.0K | $181.0K | $238.0K | $235.0K | |
| Gross Profit | $26M | $21M | $18M | $18M | $21M | $17M | $13M | $10M | $6M | $2M | $368.0K | $301.0K | $345.0K | $416.0K | $400.0K | $671.0K | |
| R&D Expense | $10M | $10M | $9M | $8M | $7M | $5M | $3M | $4M | $3M | $4M | $5M | $5M | $4M | $5M | $4M | $4M | |
| SG&A Expense | $13M | $13M | $11M | $10M | $11M | $11M | $7M | $7M | $7M | $9M | $7M | $6M | $5M | $4M | $4M | $5M | |
| Operating Expenses | $24M | $23M | $20M | $18M | $18M | $16M | $10M | $11M | $10M | $13M | $12M | $11M | $8M | $9M | $8M | $9M | |
| Operating Income | $2M | $-2M | $-2M | $-388.0K | $3M | $642.0K | $3M | $-1M | $-4M | $-10M | $-11M | $-11M | $-8M | $-8M | $-8M | $-8M | |
| Other Non-op | $-17.0K | $-58.0K | $-7.0K | $-33.0K | $-34.0K | $4.0K | $-53.0K | $35.0K | $10.0K | $-22.0K | $-73.0K | $-5.0K | $6.0K | $13.0K | $27.0K | $26.0K | |
| Pretax Income | $3M | $-908.0K | $-1M | $375.0K | $3M | $1M | $-3M | $2M | $-14M | $-11M | · | · | · | · | · | · | |
| Income Tax | $491.0K | $162.0K | $562.0K | $-455.0K | $508.0K | $195.0K | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Income | $3M | $-1M | $-2M | $830.0K | $3M | $1M | $-3M | $2M | $-14M | $-11M | $-11M | $-20M | $-7M | $-9M | $-8M | $-9M | |
| EPS (Basic) | $0.07 | $-0.03 | $-0.05 | $0.02 | $0.08 | $0.03 | $-0.06 | $0.06 | $-0.48 | $-0.45 | $-0.45 | $-1.14 | $-0.58 | $-0.77 | $-0.82 | $-0.96 | |
| EPS (Diluted) | $0.07 | $-0.03 | $-0.05 | $0.02 | $0.07 | $0.03 | $-0.06 | $0.06 | $-0.48 | $-0.45 | $-0.45 | $-1.14 | $-0.58 | $-0.77 | $-0.82 | $-0.96 | |
| Shares (Basic) | 35,891,915 | 36,021,210 | -70,991,574 | 36,383,277 | 35,786,813 | 34,642,641 | -53,478,825 | 28,738,307 | 28,364,731 | 24,887,180 | -25,719,196 | 17,863,078 | 12,463,665 | 11,622,384 | -16,732,137 | 9,215,786 | |
| Shares (Diluted) | 39,761,480 | 36,021,210 | -79,911,141 | 40,056,814 | 40,262,764 | 39,511,120 | -57,086,190 | 32,345,672 | 28,364,731 | 24,887,180 | -25,719,196 | 17,863,078 | 12,463,665 | 11,622,384 | -16,732,137 | 9,215,786 | |
| EBITDA | $2M | $-2M | · | $-388.0K | $3M | $642.0K | · | $-1M | $-4M | $-10M | · | $-11M | $-8M | $-8M | · | $-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 | $48M | $41M | $43M | $42M | $34M | $13M | $32M | $8M | $15M | $12M | $13M | $40M | $15M | $24M | $8M | $10M | |
| Receivables | $16M | $14M | $12M | $14M | $16M | $14M | $11M | $7M | $4M | $2M | $241.0K | $205.0K | $127.0K | $458.0K | $366.0K | $537.0K | |
| Inventory | $12M | $10M | $10M | $11M | $11M | $7M | $7M | $7M | $6M | $4M | $3M | $3M | $2M | $2M | $2M | $2M | |
| Prepaid Expense | $7M | $7M | $6M | $7M | $6M | $4M | $3M | $1M | $1M | $1M | $1M | $3M | $2M | $2M | $2M | $2M | |
| Current Assets | $131M | $120M | $120M | $121M | $113M | $84M | $74M | $29M | $31M | $34M | $37M | $46M | $19M | $29M | $16M | $18M | |
| PP&E (Net) | $4M | $4M | $3M | $3M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| PP&E (Gross) | $9M | $9M | $8M | $8M | $8M | $7M | $7M | $7M | $7M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | |
| Accum. Depreciation | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | |
| Total Assets | $137M | $125M | $124M | $124M | $117M | $87M | $77M | $32M | $34M | $36M | $39M | $48M | $21M | $31M | $18M | $20M | |
| Accounts Payable | $4M | $3M | $3M | $2M | $5M | $2M | $961.0K | $937.0K | $3M | $1M | $1M | $753.0K | $966.0K | $2M | $2M | $3M | |
| Accrued Liabilities | $9M | $7M | $8M | $6M | $6M | $4M | $5M | $6M | $4M | $4M | $5M | $5M | $6M | $7M | $5M | $5M | |
| Current Liabilities | $13M | $11M | $11M | $8M | $10M | $5M | $6M | $22M | $12M | $13M | $16M | $14M | $11M | $13M | $15M | $14M | |
| Capital Leases | $2M | $815.0K | $835.0K | $855.0K | $877.0K | $906.0K | $933.0K | $963.0K | $989.0K | $1M | $0 | · | · | · | · | · | |
| Other Non-current Liabilities | $327.0K | $615.0K | $628.0K | $582.0K | $578.0K | $896.0K | $766.0K | $563.0K | $632.0K | $962.0K | $840.0K | $1M | $1M | $1M | $1M | $1M | |
| Total Liabilities | $16M | $12M | $12M | $9M | $12M | $7M | $8M | $23M | $30M | $21M | $23M | $23M | $21M | $25M | $24M | $25M | |
| Long-term Debt | · | · | · | · | · | · | · | $2M | $4M | $7M | $10M | · | · | · | $16M | · | |
| Common Stock | $346.0K | $344.0K | $347.0K | $353.0K | $350.0K | $334.0K | $331.0K | $280.0K | $279.0K | $254.0K | $228.0K | $197.0K | $153.0K | $101.0K | $100.0K | $86.0K | |
| Paid-in Capital | $648M | $642M | $639M | $641M | $632M | $610M | $600M | $536M | $534M | $530M | $521M | $519M | $473M | $453M | $452M | $442M | |
| Retained Earnings | $-527M | $-530M | $-529M | $-527M | $-528M | $-530M | $-532M | $-528M | $-530M | $-516M | $-505M | $-494M | $-474M | $-466M | $-457M | $-447M | |
| AOCI | $258.0K | $571.0K | $575.0K | $875.0K | $592.0K | $381.0K | $82.0K | $11.0K | $8.0K | $157.0K | $135.0K | $-59.0K | $-64.0K | $-64.0K | $-83.0K | $-57.0K | |
| Stockholders' Equity | $121M | $113M | $111M | $115M | $105M | $80M | $69M | $9M | $4M | $15M | $16M | $25M | $-242.0K | $-13M | $-6M | $-5M | |
| Liabilities + Equity | $137M | $125M | $124M | $124M | $117M | $87M | $77M | $32M | $34M | $36M | $39M | $48M | $21M | $31M | $18M | $20M | |
| Shares Outstanding | 34,636,252 | 34,465,087 | 34,691,671 | 35,308,939 | 34,955,974 | 33,436,612 | 33,061,002 | 28,019,599 | 27,931,393 | 25,439,319 | 22,761,554 | 19,688,991 | 15,250,469 | 10,046,571 | 10,046,571 | 8,597,682 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $6M | $857.0K | $8M | $5M | $7M | $2M | $-1M | $-4M | $-4M | $-10M | $-8M | $-9M | $-10M | $-4M | $-7M | $-5M | |
| CapEx | $503.0K | $570.0K | $550.0K | $459.0K | $398.0K | $140.0K | $229.0K | $216.0K | $101.0K | $13.0K | $19.0K | $-1.0K | $40.0K | $0 | $0 | $68.0K | |
| Investing Cash Flow | $-504.0K | $-571.0K | $-561.0K | $-466.0K | $-415.0K | $-25M | $-15M | $-697.0K | $10M | $5M | $-20M | $1.0K | $-40.0K | $0 | $0 | $-68.0K | |
| Stock Issued | $0 | $389.0K | $0 | $243.0K | $0 | $238.0K | $0 | $175.0K | $0 | $75.0K | $0 | $76.0K | $0 | $47.0K | $0 | $0 | |
| Stock Repurchased | $11.0K | $3M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-3M | · | · | · | $238.0K | · | · | · | $75.0K | · | · | · | $47.0K | · | · | |
| Financing Cash Flow | $962.0K | $-2M | $-6M | $3M | $15M | $3M | $40M | $-2M | $-3M | $4M | $1.0K | $35M | $7.0K | $17M | $5M | $5M | |
| Net Change in Cash | $6M | $-2M | $2M | $7M | $22M | $-20M | $24M | $-6M | $3M | $-886.0K | $-28M | $26M | $-10M | $12M | $-2M | $-372.0K | |
| Taxes Paid | · | · | $228.0K | · | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $287.0K | · | · | · | $2M | · | · | · | $-10M | · | · | · | $-4M | · | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 89.8% | 85.0% | · | 87.2% | 86.3% | 85.6% | · | 85.4% | 80.4% | 71.2% | · | 69.3% | 69.7% | 69.7% | · | · | |
| Operating Margin | 8.2% | -6.6% | · | -1.9% | 10.7% | 3.2% | · | -11.2% | -50.4% | -327.4% | · | -2432.3% | -1615.6% | -1394.5% | · | · | |
| Net Margin | 9.2% | -4.3% | · | 4.0% | 11.2% | 5.4% | · | 16.6% | -176.9% | -354.0% | · | -4686.6% | -1455.0% | -1507.5% | · | · | |
| Pretax Margin | 10.8% | -3.6% | · | 1.8% | 13.3% | 6.4% | · | · | · | · | · | · | · | · | · | · | |
| EBITDA Margin | 8.2% | -6.6% | · | -1.9% | 10.7% | 3.2% | · | -11.2% | -50.4% | -327.4% | · | -2432.3% | -1615.6% | -1394.5% | · | · | |
| ROA | 2.1% | -1.0% | · | 1.1% | 3.6% | 1.7% | · | 4.7% | -50.0% | -33.3% | · | -60.0% | -34.2% | -31.1% | · | -31.1% | |
| ROE | 2.4% | -1.1% | · | 1.4% | 4.9% | 2.2% | · | 11.2% | -695.8% | -1439.2% | · | -208.9% | 466.5% | 229.3% | · | -262.5% | |
| ROIC | 1.7% | -1.7% | · | -0.75% | 2.1% | 0.68% | · | · | · | · | · | · | · | · | · | · |
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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.8 | 11.2 | · | 15.1 | 10.9 | 16.0 | · | 1.3 | 2.6 | 2.5 | · | 3.3 | 1.8 | 2.2 | · | 1.3 | |
| Quick Ratio | 4.8 | 5.2 | · | 6.9 | 4.8 | 5.1 | · | 0.7 | 1.5 | 1.0 | · | 2.9 | 1.3 | 1.8 | · | 0.7 |
Efficiency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | · | |
| Inventory Turnover | 0.3 | 0.4 | · | 0.3 | 0.4 | 0.5 | · | 0.4 | 0.3 | 0.3 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.8 | 1.8 | · | 2.0 | 2.5 | 2.6 | · | 3.1 | 4.0 | 3.1 | · | 1.2 | 1.8 | 1.9 | · | · |
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 | $99M | $89M | · | $76M | $63M | $42M | · | $23M | $12M | $5M | · | $2M | $3M | $3M | · | · | |
| Net Income TTM | $5M | $4M | · | $6M | $-8M | $-22M | · | $-43M | $-52M | $-48M | · | $-45M | $-35M | $-37M | · | $-35M | |
| Market Cap | $436M | $320M | · | $380M | $475M | $426M | · | $253M | $234M | $121M | · | $80M | $89M | $58M | · | $28M | |
| P/E | 96.8 | 103.1 | · | 59.7 | -42.5 | -15.2 | · | -4.5 | -3.2 | -1.6 | · | -1.2 | -1.6 | -1.4 | · | -0.8 | |
| P/S | 4.4 | 3.6 | · | 5.0 | 7.6 | 10.2 | · | 11.2 | 19.8 | 26.0 | · | 32.8 | 31.8 | 21.6 | · | · | |
| P/B | 3.6 | 2.8 | · | 3.3 | 4.5 | 5.3 | · | 29.5 | 55.8 | 8.3 | · | 3.2 | -367.4 | -4.4 | · | -5.2 | |
| P / Tangible Book | 3.6 | 2.8 | · | 3.3 | 4.5 | 5.3 | · | 29.5 | 55.8 | 8.3 | · | 3.2 | · | · | · | · | |
| P / Cash Flow | · | 373.2 | · | · | · | 193.2 | · | · | · | -12.7 | · | · | · | -13.5 | · | · | |
| P / FCF | · | 1114.4 | · | · | · | 206.3 | · | · | · | -12.6 | · | · | · | -13.5 | · | · | |
| Earnings Yield | 1.0% | 0.97% | · | 1.7% | -2.4% | -6.6% | · | -22.3% | -31.7% | -61.6% | · | -85.2% | -60.9% | -70.8% | · | -132.5% |
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 | $85M | $37M | $2M | $3M | $4M |
| Gross Margin % | 86.2% | 83.4% | 69.2% | 74.8% | — |
| Operating Margin % | 0.77% | -33.4% | -1849.0% | -1245.0% | — |
| Net Income | $3M | $-26M | $-48M | $-37M | $-26M |
| Diluted EPS | $0.07 | $-0.93 | $-2.94 | $-4.12 | $-3.59 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 10.9 | 12.0 | 2.3 | 1.1 | 5.2 |
| Quick Ratio | 5.0 | 7.0 | 0.8 | 0.5 | 3.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $21M | $-19M | $-31M | $-25M | $-23M |
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Institutional owners (13F) 140 filers · $188.2M 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 |
|---|---|---|---|---|
| 27 (0 vs prior Q) | 17 (-3 vs prior Q) | 40 (+6 vs prior Q) | 30 (-7 vs prior Q) | +1.7M |
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 |
|---|---|---|---|---|
| Rosalind Advisors, Inc. | $41,551,898 | 3,300,389 | 22.08% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $15,375,500 | 1,221,247 | 8.17% | Shares |
| VANGUARD GROUP INC | $14,879,573 | 1,473,225 | 7.91% | Shares |
| Propel Bio Management, LLC | $10,971,681 | 871,460 | 5.83% | Shares |
| STATE STREET CORP | $8,552,135 | 679,280 | 4.55% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $7,923,535 | 629,139 | 4.21% | Shares |
| ALGERT GLOBAL LLC | $7,311,114 | 580,708 | 3.89% | Shares |
| MILLENNIUM MANAGEMENT LLC | $7,130,611 | 566,371 | 3.79% | Shares |
| Divisadero Street Capital Management, LP | $6,292,432 | 499,796 | 3.34% | Shares |
| ExodusPoint Capital Management, LP | $4,530,940 | 359,884 | 2.41% | Shares |
| Private Wealth Advisors, LLC | $3,913,765 | 310,863 | 2.08% | Shares |
| Simplify Asset Management Inc. | $3,333,454 | 264,770 | 1.77% | Shares |
| BlackRock, Inc. | $3,180,738 | 252,640 | 1.69% | Shares |
| ADAR1 Capital Management, LLC | $2,825,007 | 224,385 | 1.50% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $2,570,450 | 204,166 | 1.37% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $2,570,160 | 204,143 | 1.37% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,435,510 | 193,448 | 1.29% | Shares |
| Ikarian Capital, LLC | $2,337,548 | 185,667 | 1.24% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,290,159 | 181,903 | 1.22% | Shares |
| CIBC WORLD MARKET INC. | $2,054,789 | 163,208 | 1.09% | Shares |
| Caption Management, LLC | $1,894,795 | 150,500 | 1.01% | Put option |
| GOLDMAN SACHS GROUP INC | $1,885,353 | 149,750 | 1.00% | Shares |
| Lane Generational LLC | $1,884,257 | 149,663 | 1.00% | Shares |
| HSBC HOLDINGS PLC | $1,705,848 | 135,600 | 0.91% | Shares |
| Man Group plc | $1,617,752 | 128,495 | 0.86% | Shares |
| Cubist Systematic Strategies, LLC | $1,562,514 | 145,350 | 0.83% | Shares |
| Diametric Capital, LP | $1,546,568 | 122,841 | 0.82% | Shares |
| MORGAN STANLEY | $1,366,506 | 108,539 | 0.73% | Shares |
| BARCLAYS PLC | $1,354,243 | 107,565 | 0.72% | Shares |
| Caption Management, LLC | $1,259,000 | 100,000 | 0.67% | Call option |
| Capital Advisors Wealth Management, LLC | $1,170,870 | 93,000 | 0.62% | Shares |
| Jefferies Financial Group Inc. | $1,057,308 | 83,980 | 0.56% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,050,824 | 83,465 | 0.56% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,022,308 | 81,200 | 0.54% | Call option |
| Stonepine Capital Management, LLC | $1,000,000 | 100,000 | 0.53% | Call option |
| Caption Management, LLC | $978,243 | 77,700 | 0.52% | Shares |
| FOX RUN MANAGEMENT, L.L.C. | $776,526 | 61,678 | 0.41% | Shares |
| Quantbot Technologies LP | $749,860 | 59,560 | 0.40% | Shares |
| D. E. Shaw & Co., Inc. | $728,885 | 57,894 | 0.39% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $725,864 | 57,654 | 0.39% | Shares |
| Pale Fire Capital SE | $504,670 | 40,085 | 0.27% | Shares |
| BANK OF AMERICA CORP /DE/ | $493,931 | 39,232 | 0.26% | Shares |
| WOLVERINE TRADING, LLC | $479,600 | 44,000 | 0.25% | Call option |
| RHUMBLINE ADVISERS | $458,822 | 36,444 | 0.24% | Shares |
| ALPS ADVISORS INC | $441,154 | 35,040 | 0.23% | Shares |
| EntryPoint Capital, LLC | $437,641 | 34,761 | 0.23% | Shares |
| SEI INVESTMENTS CO | $394,936 | 31,369 | 0.21% | Shares |
| AMERICAN CENTURY COMPANIES INC | $378,380 | 30,054 | 0.20% | Shares |
| Balyasny Asset Management L.P. | $358,412 | 28,468 | 0.19% | Shares |
| Leonteq Securities AG | $348,730 | 27,699 | 0.19% | Shares |
| CITADEL ADVISORS LLC | $334,894 | 26,600 | 0.18% | Call option |
| BOOTHBAY FUND MANAGEMENT, LLC | $319,484 | 25,376 | 0.17% | Shares |
| Xcelsior Advisor Partners LLC | $318,527 | 25,300 | 0.17% | Shares |
| Palisades Investment Partners, LLC | $293,007 | 23,273 | 0.16% | Shares |
| WOLVERINE TRADING, LLC | $269,666 | 24,740 | 0.14% | Shares |
| ALLIANCEBERNSTEIN L.P. | $239,424 | 25,800 | 0.13% | Shares |
| MetLife Investment Management, LLC | $235,043 | 18,669 | 0.12% | Shares |
| Bank of New York Mellon Corp | $234,942 | 18,661 | 0.12% | Shares |
| WealthPlan Investment Management, LLC | $219,607 | 17,443 | 0.12% | Shares |
| NOMURA HOLDINGS INC | $210,530 | 16,722 | 0.11% | Shares |
| WOLVERINE TRADING, LLC | $209,280 | 19,200 | 0.11% | Put option |
| CITADEL ADVISORS LLC | $202,699 | 16,100 | 0.11% | Put option |
| CITADEL ADVISORS LLC | $189,391 | 15,043 | 0.10% | Shares |
| SkyOak Wealth, LLC | $188,850 | 15,000 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $188,850 | 15,000 | 0.10% | Put option |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $166,729 | 13,243 | 0.09% | Shares |
| TUDOR INVESTMENT CORP ET AL | $151,609 | 12,042 | 0.08% | Shares |
| LANARK FINANCIAL, INC. | $150,500 | 11,954 | 0.08% | Shares |
| CITIGROUP INC | $146,485 | 11,635 | 0.08% | Shares |
| Invesco Ltd. | $143,790 | 11,421 | 0.08% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $140,744 | 11,179 | 0.07% | Shares |
| Nuveen, LLC | $138,754 | 11,021 | 0.07% | Shares |
| Vanguard Global Advisers, LLC | $133,869 | 10,633 | 0.07% | Shares |
| Schonfeld Strategic Advisors LLC | $131,136 | 10,416 | 0.07% | Shares |
| LPL Financial LLC | $128,859 | 10,235 | 0.07% | Shares |
| TWO SIGMA INVESTMENTS, LP | $126,580 | 10,054 | 0.07% | Shares |
| Police & Firemen's Retirement System of New Jersey | $110,729 | 8,795 | 0.06% | Shares |
| SHERBROOKE PARK ADVISERS LLC | $109,918 | 10,883 | 0.06% | Shares |
| Hunting Hill Global Capital, LLC | $104,716 | 11,284 | 0.06% | Shares |
| MARSHALL WACE, LLP | $84,177 | 6,686 | 0.04% | Shares |
| FMR LLC | $69,144 | 5,492 | 0.04% | Shares |
| Private Wealth Advisors, LLC | $62,950 | 5,000 | 0.03% | Call option |
| NEW YORK STATE COMMON RETIREMENT FUND | $60,432 | 4,800 | 0.03% | Shares |
| OSAIC HOLDINGS, INC. | $60,254 | 4,786 | 0.03% | Shares |
| Point72 (DIFC) Ltd | $53,931 | 5,017 | 0.03% | Shares |
| NORTHERN TRUST CORP | $53,797 | 4,273 | 0.03% | Shares |
| Persistent Asset Partners Ltd | $52,954 | 4,206 | 0.03% | Shares |
| Arax Advisory Partners | $51,884 | 4,121 | 0.03% | Shares |
| IFP Advisors, Inc | $51,657 | 4,103 | 0.03% | Shares |
| Integrated Wealth Concepts LLC | $48,145 | 3,824 | 0.03% | Shares |
| Ameritas Investment Partners, Inc. | $38,714 | 3,075 | 0.02% | Shares |
| Legal & General Group Plc | $34,534 | 2,743 | 0.02% | Shares |
| CWM, LLC | $29,343 | 3,162 | 0.02% | Shares |
| Creative Planning | $17,777 | 1,412 | 0.01% | Shares |
| Tripletail Wealth Management, LLC | $16,632 | 1,260 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $14,950 | 1,611 | 0.01% | Shares |
| AlphaQuest LLC | $14,473 | 1,433 | 0.01% | Shares |
| Tower Research Capital LLC (TRC) | $13,711 | 1,089 | 0.01% | Shares |
| Activest Wealth Management | $12,590 | 1,000 | 0.01% | Shares |
| Geneos Wealth Management Inc. | $11,621 | 923 | 0.01% | Shares |
Company insiders 46 insiders · 11 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jennifer K. Simpson | President and CEO | May 8, 2020 C | 25,021 | 0 | 0 | $0 |
| Barbra Keck | Chief Financial Officer, Secretary | May 8, 2020 C | 12,851 | 0 | 0 | $0 |
| Paul M Feinstein | Chief Financial Officer | Nov. 30, 2007 A | 3,375 | 0 | 0 | $0 |
| John Purpura | Chief Operating Officer | Oct. 13, 2023 P | 41,526 | 0 | 0 | $0 |
| HERSCHKOWITZ SAMUEL /FA/ | Chief Operating Officer | May 29, 2007 P | 160,375 | 0 | 0 | $0 |
| Vojo Vukovic | Chief Medical Officer | Dec. 12, 2023 P | 100,000 | 0 | 0 | $0 |
| Sandra Pennell | SVP of Finance, PFO and PAO | Nov. 17, 2023 P | 30,000 | 0 | 0 | $0 |
| David L. Hoffman | General Counsel, Chief Compliance Officer and Secretary | Nov. 16, 2023 P | 40,000 | 0 | 0 | $0 |
| Kevin Muir | Vice President Commercial Operations | June 12, 2023 A | — | 0 | 0 | $0 |
| Johnny John | Senior Vice President Clinical Development and Medical Affairs | June 12, 2023 A | — | 0 | 0 | $0 |
| Christine Padula | Interim Principal Accounting Officer | Sept. 1, 2021 A | — | 0 | 0 | $0 |
| John Richard Sylvester | Director | Aug. 21, 2023 P | 10,550 | 0 | 0 | $0 |
| Aharon Gil | Director | June 12, 2023 A | 404,000 | 0 | 0 | $0 |
| Steven A J Salamon | Director | June 12, 2023 A | 440,100 | 0 | 0 | $0 |
| Roger G Stoll PHD | Director | June 12, 2023 A | 9,309 | 0 | 0 | $0 |
| Rosalind Advisors, Inc. | Director | April 19, 2022 P | 433,100 | 0 | 0 | $0 |
| Marco Taglietti | Director | May 8, 2020 C | 6,000 | 0 | 0 | $0 |
| William Dodge Rueckert | Director | May 8, 2020 C | 6,014 | 0 | 0 | $0 |
| Simon Pedder | Director | Feb. 1, 2019 A | — | 0 | 0 | $0 |
| Laura A Philips | Director | July 23, 2015 P | 205,299 | 0 | 0 | $0 |
| Harold S Koplewicz | Director | June 10, 2015 A | 45,052 | 0 | 0 | $0 |
| Dennis Langer | Director | June 10, 2015 A | 20,000 | 0 | 0 | $0 |
| Jonathan Lewis | Director | June 30, 2008 A | 10,000 | 0 | 0 | $0 |
| Mark Corigliano | Director | April 16, 2007 M | 198,176 | 0 | 0 | $0 |
| Daniel Isdaner | Director | April 16, 2007 M | 253,668 | 0 | 0 | $0 |
| Elizabeth Czerepak | — | May 13, 2026 A | — | 0 | 0 | $0 |
| Gerard J Michel | — | March 2, 2026 P | 342,034 | 2 | 0 | $198,447 |
| Laura Brege | — | July 7, 2014 A | 11,678 | 0 | 0 | $0 |
| Tasos Konidaris | — | July 7, 2014 A | 11,678 | 0 | 0 | $0 |
| Gabriel Leung | — | July 7, 2014 A | 21,485 | 0 | 0 | $0 |
| Douglas G Watson | — | July 7, 2014 A | 136,664 | 0 | 0 | $0 |
| Graham G Miao | — | Nov. 14, 2013 A | 54,000 | 0 | 0 | $0 |
| Peter J Graham | — | Nov. 14, 2013 A | 15,000 | 0 | 0 | $0 |
| William M Appling | — | July 15, 2013 A | — | 0 | 0 | $0 |
| Krishna Kandarpa | — | March 11, 2013 A | 159,000 | 0 | 0 | $0 |
| Harold Mapes | — | March 11, 2013 A | 17,000 | 0 | 0 | $0 |
| Eamonn P Hobbs | — | March 11, 2013 A | 162,000 | 0 | 0 | $0 |
| Agustin V Gago | — | March 11, 2013 A | 80,944 | 0 | 0 | $0 |
| Robert Ladd | — | June 15, 2012 A | 69,534 | 0 | 0 | $0 |
| David Mcdonald | — | March 10, 2011 A | 47,706 | 0 | 0 | $0 |
| Pamela Reilly Contag | — | Dec. 1, 2010 A | 8,507 | 0 | 0 | $0 |
| Richard Taney | — | Dec. 10, 2009 A | 211,485 | 0 | 0 | $0 |
| Jason Andrew Rifkin | — | Oct. 12, 2009 A | — | 0 | 0 | $0 |
| KOLY M S /FA/ | — | Jan. 26, 2007 X | 775,360 | 0 | 0 | $0 |
| Victor Nevins | — | Oct. 12, 2006 M | 180,007 | 0 | 0 | $0 |
| VENKOL TRUST | — | Nov. 10, 2004 J | 892,649 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 17 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 |
|---|---|---|---|---|---|
| Rosalind Advisors, Inc., SALAMON STEVEN A J, Aharon Gil, Rosalind Master Fund L.P., Rosalind Opportunities Fund I L.P. ×15 filings | Feb. 10, 2026 | 9.90% | Amendment | — | SEC |
| Undisclosed reporting person | Dec. 16, 2022 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | July 27, 2022 | — | Initial filing | Passive investment | SEC |
| Laddcap Value Partners LP S.S. or, Laddcap Value Associates LLC S.S. or, Laddcap Value Advisors LLC S.S. or, Robert Ladd S.S. or ×2 filings | Aug. 2, 2010 | — | Initial filing | — | SEC |
| Robert Ladd | Oct. 18, 2006 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | July 28, 2006 | — | Initial filing | Board campaign | SEC |
| Undisclosed reporting person | July 11, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | June 14, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | June 8, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | May 24, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | April 28, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Jan. 10, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Jan. 6, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Dec. 14, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Nov. 10, 2005 | — | Initial filing | Board campaign | 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 22 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 | 0.24% | 35,814 NS | May 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.10% | 97,850 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.04% | 35,321 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.02% | 227,534 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 21,358 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 741,852 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.01% | 2,388 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 165,177 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 13,080 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 22,609 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 1,420 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 1,111 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.00% | 38,572 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.00% | 1,122 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,638 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 28 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 19,222 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 43,750 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 304,809 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 889,410 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,438 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,475 SH | Aug. 8, 2026 | Daily |