DNTH Dianthus Therapeutics, Inc. - Common Stock
About Dianthus Therapeutics, Inc. - Common Stock Company overview from Wikipedia
DNTH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
DNTH 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
DNTH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 10 45.5%
- Buy 11 50.0%
- Hold 1 4.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
13 analysts · 2026-08-15Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.90 | $-0.87 | -0.03% |
| March 31, 2026 | $-0.85 | $-1.09 | 0.24% |
| Dec. 31, 2025 | $-1.43 | $-1.10 | -0.33% |
| Sept. 30, 2025 | $-0.97 | $-0.88 | -0.09% |
| June 30, 2025 | $-0.88 | $-0.89 | 0.01% |
| March 31, 2025 | $-0.82 | $-0.87 | 0.05% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| DNTH | $1.78B | -9.8 | -67.3% | -7973.3% | -40.8% | — |
| SRRK | $4.78B | -13.4 | — | — | -157.9% | — |
| MIRM | $4.10B | -168.1 | 54.7% | -4.5% | -8.2% | — |
| COGT | $5.72B | -16.4 | — | — | -83.1% | — |
| CAI | $7.62B | -8.4 | 97.0% | -8.4% | -13.2% | — |
| ERAS | $1.06B | -8.5 | — | — | -35.7% | — |
| TVTX | $3.47B | -131.8 | 110.5% | -5.2% | -34.6% | — |
| PTCT | $6.19B | 9.8 | 114.5% | 39.4% | -331.5% | — |
| ACAD | $4.55B | 11.6 | 11.9% | 36.5% | 38.1% | — |
| DYN | $3.23B | -5.6 | — | — | -57.8% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2M | $6M | $3M | · | · | · | $0 | $0 | $0 | |
| R&D Expense | $146M | $83M | $33M | $29M | $47M | $51M | $59M | $41M | $28M | |
| SG&A Expense | $34M | $25M | $18M | $7M | $28M | $28M | $24M | $19M | $8M | |
| Operating Expenses | $180M | $108M | $51M | $36M | $75M | $79M | $83M | $60M | $36M | |
| Operating Income | $-178M | $-102M | $-48M | $-30M | $-75M | $-79M | $-83M | $-60M | $-36M | |
| Interest Income | $16M | $17M | $5M | · | · | · | · | · | · | |
| Other Non-op | $-974.0K | $-554.0K | $-60.0K | $-52.0K | · | · | · | $2M | $236.0K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-162M | $-85M | $-44M | $-28M | $-71M | $-75M | $-77M | $-58M | $-35M | |
| EPS (Basic) | $-4.20 | $-2.55 | $-8.45 | $-32.57 | $-1.29 | $-1.71 | · | · | · | |
| EPS (Diluted) | $-4.20 | $-2.55 | $-8.45 | $-32.57 | $-1.29 | $-1.71 | · | · | · | |
| Shares (Basic) | 38,617,580 | 33,313,849 | 5,153,423 | 874,234 | 54,948,808 | 43,920,121 | · | · | · | |
| Shares (Diluted) | 38,617,580 | 33,313,849 | 5,153,423 | 874,234 | 54,948,808 | 43,920,121 | · | · | · | |
| EBITDA | $-178M | $-102M | $-48M | · | $-73M | $-77M | $-81M | $-59M | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $51M | $23M | $132M | $15M | $132M | $58M | $65M | $58M | $51M | |
| Short-term Investments | $353M | $252M | $41M | $60M | $45M | $91M | $81M | $84M | · | |
| Receivables | $52.0K | $0 | $294.0K | $5M | · | · | · | · | · | |
| Prepaid Expense | $5M | $5M | $3M | $905.0K | $4M | $3M | $4M | $3M | $936.0K | |
| Other Current Assets | $86.0K | $355.0K | $0 | · | · | · | · | · | · | |
| Current Assets | $409M | $281M | $177M | $82M | $181M | $152M | $150M | $145M | $53M | |
| PP&E (Net) | $296.0K | $194.0K | $185.0K | $142.0K | $7M | $8M | $10M | $10M | $2M | |
| PP&E (Gross) | $600.0K | $387.0K | $282.0K | $172.0K | $14M | $13M | $13M | $11M | $2M | |
| Accum. Depreciation | $304.0K | $193.0K | $97.0K | $30.0K | $7M | $5M | $3M | $1M | $382.0K | |
| Other Non-current Assets | · | · | · | · | · | · | · | · | $4.0K | |
| Total Assets | $531M | $374M | $179M | $83M | $190M | $162M | $162M | $157M | $54M | |
| Accounts Payable | $10M | $5M | $3M | $1M | $3M | $4M | $3M | $3M | $167.0K | |
| Accrued Liabilities | $19M | $13M | $7M | $7M | $8M | $8M | $11M | $7M | $4M | |
| Current Liabilities | $31M | $18M | $10M | $8M | $11M | $11M | $14M | $10M | $4M | |
| Capital Leases | $1M | $1M | $168.0K | $438.0K | $0 | · | · | · | · | |
| Total Liabilities | $38M | $22M | $11M | $9M | $17M | $18M | $20M | $12M | $4M | |
| Common Stock | $43.0K | $31.0K | $15.0K | $0 | $59.0K | $49.0K | $39.0K | $33.0K | $2.0K | |
| Retained Earnings | $-337M | $-174M | $-89M | $-46M | $-326M | $-254M | $-179M | $-103M | $-45M | |
| AOCI | $489.0K | $106.0K | $47.0K | $-161.0K | $-30.0K | $-23.0K | $8.0K | $-8.0K | · | |
| Stockholders' Equity | $493M | $352M | $169M | $-44M | $-17M | $144M | $141M | $146M | $-42M | |
| Liabilities + Equity | $531M | $374M | $179M | $83M | $190M | $162M | $162M | $157M | $54M | |
| Shares Outstanding | 43,223,090 | 31,115,341 | 14,817,696 | 875,279 | 58,799,157 | 48,533,135 | 39,260,532 | 33,305,033 | 2,351,247 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | $2M | $2M | $2M | $2M | $875.0K | $376.0K | |
| Stock-based Comp | $23M | $13M | $3M | $2M | $10M | $10M | $10M | $11M | $2M | |
| Other Non-cash | · | · | · | · | $-723.0K | $-1M | $8M | $4M | · | |
| Operating Cash Flow | $-129M | $-78M | $-37M | $-29M | $-60M | $-64M | $-57M | $-42M | $-22M | |
| CapEx | · | · | · | $314.0K | $1M | $400.0K | $3M | $8M | $2M | |
| Investing Cash Flow | $-123M | $-287M | $20M | $-60M | $43M | $-11M | $2M | $-92M | $-2M | |
| Stock Issued | $317.0K | $0 | $0 | $3M | $0 | $65M | $61M | $93M | · | |
| Net Stock Activity | $317.0K | $39M | · | · | · | $65M | $61M | · | · | |
| Financing Cash Flow | $280M | $256M | $134M | $97M | $90M | $68M | $62M | $142M | $71M | |
| Net Change in Cash | $28M | $-109M | $117M | $8M | $73M | $-7M | $7M | $9M | $47M | |
| Taxes Paid | $0 | $0 | $0 | $0 | · | · | · | · | · | |
| Free Cash Flow | · | · | · | · | $-61M | $-64M | $-60M | $-50M | · |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -8739.3% | -1633.7% | · | · | · | · | · | · | · | |
| Net Margin | -7973.3% | -1362.8% | · | · | · | · | · | · | · | |
| EBITDA Margin | -8739.3% | -1633.7% | · | · | · | · | · | · | · | |
| ROA | -35.9% | -30.7% | -33.2% | · | -40.5% | -46.4% | -48.2% | -54.3% | · | |
| ROE | -40.8% | -24.6% | -25.1% | · | -39.3% | -49.5% | -50.7% | -37.7% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 13.3 | 15.2 | 18.4 | · | 16.6 | 13.3 | 10.6 | 13.9 | · | |
| Quick Ratio | 13.2 | 15.0 | 18.1 | · | 16.3 | 13.0 | 10.3 | 13.7 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | · | · | · | 0.0 | 0.0 | · | |
| Receivables Turnover | 78.3 | 11.3 | · | · | · | · | · | · | · |
Growth Rates 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -67.3% | 120.6% | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2M | $6M | $3M | · | $0 | $0 | $0 | $0 | · | |
| Net Income TTM | $-162M | $-85M | $-44M | $-28M | $-71M | $-75M | $-77M | $-58M | · | |
| Market Cap | $1.78B | $678M | $154M | · | $4.17B | $6.09B | $9.52B | $3.04B | · | |
| P/E | -9.8 | -8.5 | -1.2 | -0.2 | -54.9 | -73.4 | · | · | · | |
| P/S | 874.9 | 108.8 | 54.5 | · | · | · | · | · | · | |
| P/B | 3.6 | 1.9 | 0.9 | · | 24.1 | 42.3 | 67.4 | 20.9 | · | |
| P / Tangible Book | 3.6 | 1.9 | 0.9 | · | · | 42.3 | · | · | · | |
| P / Cash Flow | -13.8 | -8.7 | -4.2 | · | -70.0 | -95.1 | -166.8 | -72.5 | · | |
| P / FCF | · | · | · | · | -68.6 | -94.5 | -158.3 | -61.3 | · | |
| Earnings Yield | -10.2% | -11.7% | -81.2% | -508.9% | -1.8% | -1.4% | · | · | · |
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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $284.0K | $396.0K | $193.0K | $1M | $1M | $2M | $2M | $874.0K | $457.0K | $924.0K | · | · | · | $1M | |
| R&D Expense | $49M | $35M | $60M | $32M | $26M | $27M | $26M | $26M | $18M | $13M | $9M | $8M | $10M | $6M | $-6M | $7M | |
| SG&A Expense | $14M | $12M | $10M | $8M | $9M | $7M | $7M | $7M | $6M | $6M | $5M | $9M | $2M | $2M | $-9M | $2M | |
| Operating Expenses | $62M | $47M | $70M | $41M | $35M | $34M | $33M | $32M | $24M | $19M | $13M | $17M | $13M | $8M | $-15M | $9M | |
| Operating Income | $-61M | $-47M | $-70M | $-40M | $-35M | $-33M | $-32M | $-30M | $-22M | $-18M | $-13M | $-16M | $-12M | $-8M | $20M | $-8M | |
| Interest Income | $12M | $6M | $11M | $1M | $3M | $4M | $7M | $2M | $4M | $4M | · | · | · | · | · | · | |
| Other Non-op | $-370.0K | $-249.0K | $-409.0K | $-360.0K | $-107.0K | $-98.0K | $-382.0K | $22.0K | $-80.0K | $-114.0K | $-19.0K | $-15.0K | $-23.0K | $-3.0K | $-43.0K | $-2.0K | |
| Net Income | $-50M | $-41M | $-64M | $-37M | $-32M | $-30M | $-28M | $-25M | $-18M | $-14M | $-11M | $-15M | $-11M | $-7M | $-10M | $-8M | |
| EPS (Basic) | $-0.90 | $-0.85 | $-1.53 | $-0.97 | $-0.88 | $-0.82 | $-0.76 | $-0.74 | $-0.51 | $-0.54 | $16.16 | $-3.78 | $-12.73 | $-8.10 | $-22.99 | $-8.90 | |
| EPS (Diluted) | $-0.90 | $-0.85 | $-1.53 | $-0.97 | $-0.88 | $-0.82 | $-0.76 | $-0.74 | $-0.51 | $-0.54 | $16.16 | $-3.78 | $-12.73 | $-8.10 | $-22.99 | $-8.90 | |
| Shares (Basic) | 56,029,124 | 48,032,742 | -70,789,516 | 37,794,088 | 35,822,308 | 35,790,700 | -60,815,392 | 34,236,728 | 34,227,038 | 25,665,475 | -503,072 | 3,906,886 | 874,900 | 874,709 | -117,614,793 | 874,327 | |
| Shares (Diluted) | 56,029,124 | 48,032,742 | -70,789,516 | 37,794,088 | 35,822,308 | 35,790,700 | -60,815,392 | 34,236,728 | 34,227,038 | 25,665,475 | -503,072 | 3,906,886 | 874,900 | 874,709 | -117,614,793 | 874,327 | |
| EBITDA | $-61M | $-47M | · | $-40M | $-35M | $-33M | · | $-30M | $-22M | $-18M | · | $-16M | $-7M | $-32M | · | $-17M |
Balance Sheet 21
| 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 | $111M | $628M | $51M | $56M | $13M | $10M | $23M | $34M | $314M | $330M | $132M | $157M | $63M | $49M | $15M | $59M | |
| Short-term Investments | $776M | $484M | $353M | $347M | $244M | $253M | $252M | $247M | $47M | $47M | $41M | $33M | · | · | $60M | $69M | |
| Receivables | $106.0K | $1M | $52.0K | $5M | $39.0K | $1M | $0 | $1M | $840.0K | $435.0K | $294.0K | $232.0K | · | · | $5M | · | |
| Prepaid Expense | $11M | $7M | $5M | $6M | $6M | $7M | $5M | $4M | $3M | $3M | $3M | $832.0K | $1M | $3M | $905.0K | $4M | |
| Other Current Assets | $184.0K | $83.0K | $86.0K | $73.0K | $111.0K | $392.0K | $355.0K | · | · | · | $0 | · | · | · | · | · | |
| Current Assets | $898M | $1.12B | $409M | $414M | $264M | $271M | $281M | $287M | $366M | $381M | $177M | $191M | $79M | $83M | $82M | $132M | |
| PP&E (Net) | $418.0K | $274.0K | $296.0K | $185.0K | $207.0K | $191.0K | $194.0K | $189.0K | $189.0K | $195.0K | $185.0K | $195.0K | $0 | $0 | $142.0K | $6M | |
| PP&E (Gross) | $791.0K | $610.0K | $600.0K | $462.0K | $457.0K | $411.0K | $387.0K | $356.0K | $331.0K | $314.0K | $282.0K | $272.0K | · | · | $172.0K | · | |
| Accum. Depreciation | $373.0K | $336.0K | $304.0K | $277.0K | $250.0K | $220.0K | $193.0K | $167.0K | $142.0K | $119.0K | $97.0K | $77.0K | · | · | $30.0K | · | |
| Total Assets | $1.21B | $1.25B | $531M | $577M | $326M | $349M | $374M | $354M | $369M | $382M | $179M | $192M | $79M | $83M | $83M | $164M | |
| Accounts Payable | $6M | $5M | $10M | $7M | $5M | $8M | $5M | $8M | $4M | $3M | $3M | $1M | $813.0K | $1M | $1M | $3M | |
| Accrued Liabilities | $26M | $31M | $19M | $16M | $14M | $8M | $13M | $8M | $6M | $6M | $7M | $11M | · | · | $7M | $7M | |
| Current Liabilities | $34M | $38M | $31M | $24M | $20M | $17M | $18M | $16M | $10M | $9M | $10M | $13M | $4M | $6M | $8M | $13M | |
| Capital Leases | $913.0K | $965.0K | $1M | $1M | $1M | $1M | $1M | $0 | $30.0K | $97.0K | $168.0K | $257.0K | $0 | $0 | $438.0K | $27M | |
| Total Liabilities | $41M | $46M | $38M | $31M | $23M | $20M | $22M | $16M | $11M | $10M | $11M | $14M | $4M | $6M | $9M | $40M | |
| Common Stock | $55.0K | $54.0K | $43.0K | $43.0K | $32.0K | $32.0K | $31.0K | $29.0K | $29.0K | $29.0K | $15.0K | $15.0K | $61.0K | $61.0K | $0 | $61.0K | |
| Retained Earnings | $-428M | $-378M | $-337M | $-272M | $-236M | $-204M | $-174M | $-146M | $-121M | $-103M | $-89M | $-79M | $-434M | $-431M | $-46M | $-382M | |
| AOCI | $-2M | $-575.0K | $489.0K | $163.0K | $98.0K | $270.0K | $106.0K | $681.0K | $-37.0K | $-27.0K | $47.0K | $-4.0K | $-3.0K | $-16.0K | $-161.0K | $-462.0K | |
| Stockholders' Equity | $1.17B | $1.20B | $493M | $546M | $303M | $329M | $352M | $338M | $358M | $373M | $169M | $178M | $75M | $77M | $-44M | $124M | |
| Liabilities + Equity | $1.21B | $1.25B | $531M | $577M | $326M | $349M | $374M | $354M | $369M | $382M | $179M | $192M | $79M | $83M | $83M | $164M | |
| Shares Outstanding | 54,798,338 | 54,582,749 | 43,223,090 | 42,854,563 | 32,176,482 | 32,125,933 | 31,115,341 | 29,366,352 | 29,352,140 | 29,348,626 | 14,817,696 | 14,817,762 | 60,652,197 | 60,648,821 | 875,279 | 60,555,520 |
Cash Flow 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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $421.0K | · | $471.0K | |
| Stock-based Comp | $12M | $11M | $6M | $6M | $6M | $5M | $4M | $4M | $3M | $2M | $726.0K | $1M | $489.0K | $533.0K | $513.0K | $-3M | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | · | · | $2M | $18M | · | · | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | · | · | · | · | $-7M | · | · | |
| Operating Cash Flow | $-49M | $-29M | $-47M | $-31M | $-24M | $-28M | $-27M | $-21M | $-15M | $-15M | $-12M | $17M | $21M | $-10M | $-9M | $16M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $245.0K | · | $158.0K | |
| Investing Cash Flow | $-479M | $-134M | $37M | $-201M | $26M | $15M | $-23M | $-259M | $1M | $-6M | $-8M | $-17M | $13M | $18M | $-13M | $-7M | |
| Stock Issued | $0 | $120.0K | $1.0K | $187.0K | $0 | $129.0K | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | · | $120.0K | · | · | · | $129.0K | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $10M | $739M | $5M | $275M | $568.0K | $161.0K | $40M | $296.0K | $-2M | $218M | $-5M | $138M | $0 | $0 | $0 | $97M | |
| Net Change in Cash | $-517M | $577M | $-5M | $43M | $3M | $-13M | $-11M | $-280M | $-16M | $197M | $-25M | $139M | $34M | $8M | $-22M | $106M | |
| Taxes Paid | · | · | · | · | · | · | · | · | · | $0 | $0 | · | · | $0 | $0 | · | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | · | $-36M | · | · |
Profitability 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | -10173.7% | -18096.9% | -2852.7% | · | · | · | · | · | -1705.5% | · | · | · | · | |
| Net Margin | · | · | · | -9284.1% | -16388.1% | -2537.5% | · | · | · | · | · | -1597.7% | · | · | · | · | |
| EBITDA Margin | · | · | · | -10173.7% | -18096.9% | -2852.7% | · | · | · | · | · | -1705.5% | · | · | · | · | |
| ROA | -6.5% | -5.1% | · | -7.9% | -9.1% | -8.1% | · | -9.2% | -7.9% | -5.9% | · | -8.3% | -2.6% | -21.0% | · | -8.7% | |
| ROE | -6.8% | -5.3% | · | -8.3% | -9.6% | -8.4% | · | -9.8% | -8.1% | -6.1% | · | -9.8% | -3.1% | -25.5% | · | -10.2% |
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 | 26.1 | 29.3 | · | 17.3 | 13.1 | 16.0 | · | 18.3 | 36.5 | 42.5 | · | 14.6 | 19.5 | 13.9 | · | 10.2 | |
| Quick Ratio | 25.8 | 29.1 | · | 17.1 | 12.8 | 15.6 | · | 18.0 | 36.1 | 42.1 | · | 14.5 | 15.5 | 8.1 | · | 9.9 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | · | · | · | · | 0.0 | · | · | · | · | |
| Receivables Turnover | · | · | · | 0.1 | 0.4 | 1.6 | · | · | · | · | · | 8.0 | · | · | · | · |
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 | $4M | $4M | · | $4M | $5M | $6M | · | $6M | · | · | · | · | · | · | · | · | |
| Net Income TTM | $-159M | $-139M | · | $-123M | $-104M | $-86M | · | $-71M | $-57M | $-47M | · | $-41M | $-32M | $-25M | · | $-36M | |
| Market Cap | $5.34B | $4.58B | · | $1.69B | $599M | $583M | · | $804M | $760M | $880M | · | $203M | $738M | $767M | · | $1.37B | |
| P/E | -27.1 | -23.8 | · | -11.5 | -6.3 | -7.0 | · | -4.9 | -1.5 | -1.2 | · | -0.4 | -0.4 | -0.7 | · | -2.3 | |
| P/S | 1361.3 | 1167.3 | · | 429.7 | 111.2 | 96.0 | · | 137.8 | · | · | · | · | · | · | · | · | |
| P/B | 4.6 | 3.8 | · | 3.1 | 2.0 | 1.8 | · | 2.4 | 2.1 | 2.4 | · | 1.1 | 9.9 | 9.9 | · | 11.0 | |
| P / Tangible Book | 4.6 | 3.8 | · | 3.1 | 2.0 | 1.8 | · | 2.4 | 2.1 | 2.4 | · | 1.1 | 9.9 | 9.9 | · | 11.0 | |
| P / Cash Flow | · | -158.7 | · | · | · | -21.1 | · | · | · | -58.9 | · | · | · | -21.5 | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | -21.4 | · | · | |
| Earnings Yield | -3.7% | -4.2% | · | -8.7% | -15.8% | -14.4% | · | -20.3% | -67.8% | -83.8% | · | -245.1% | -246.9% | -139.9% | · | -43.8% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $2M | $6M | $3M | — | — |
| Operating Margin % | -8739.3% | -1633.7% | — | — | — |
| Net Income | $-162M | $-85M | $-44M | $-28M | $-71M |
| Diluted EPS | $-4.20 | $-2.55 | $-8.45 | $-32.57 | $-1.29 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 13.3 | 15.2 | 18.4 | — | 16.6 |
| Quick Ratio | 13.2 | 15.0 | 18.1 | — | 16.3 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | — | — | $-61M |
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Institutional owners (13F) 283 filers · $4.7B 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 |
|---|---|---|---|---|
| 66 (-38 vs prior Q) | 31 (+14 vs prior Q) | 111 (+32 vs prior Q) | 69 (+12 vs prior Q) | +3.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $572,883,234 | 5,876,931 | 12.24% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $264,170,313 | 2,709,995 | 5.64% | Shares |
| Fairmount Funds Management LLC | $247,325,379 | 2,537,191 | 5.28% | Shares |
| STATE STREET CORP | $229,798,634 | 2,357,440 | 4.91% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $210,514,689 | 2,159,568 | 4.50% | Shares |
| Avidity Partners Management LP | $205,115,856 | 2,104,184 | 4.38% | Shares |
| Octagon Capital Advisors LP | $179,525,699 | 1,841,667 | 3.83% | Shares |
| TCG Crossover Management, LLC | $163,437,308 | 1,676,624 | 3.49% | Shares |
| FRED ALGER MANAGEMENT, LLC | $126,967,018 | 1,302,493 | 2.71% | Shares |
| Venrock Adviser, LLC | $115,026,400 | 1,180,000 | 2.46% | Shares |
| DEERFIELD MANAGEMENT COMPANY, L.P. | $109,695,511 | 1,125,313 | 2.34% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $107,328,005 | 1,100,843 | 2.29% | Shares |
| Polar Capital Holdings Plc | $99,305,410 | 1,018,726 | 2.12% | Shares |
| CITADEL ADVISORS LLC | $95,034,324 | 974,911 | 2.03% | Shares |
| JENNISON ASSOCIATES LLC | $83,073,817 | 852,214 | 1.77% | Shares |
| BAKER BROS. ADVISORS LP | $83,068,947 | 852,164 | 1.77% | Shares |
| Logos Global Management LP | $77,984,000 | 800,000 | 1.67% | Shares |
| VANGUARD GROUP INC | $75,241,465 | 1,825,806 | 1.61% | Shares |
| Cormorant Asset Management, LP | $73,110,000 | 750,000 | 1.56% | Shares |
| ALLIANCEBERNSTEIN L.P. | $70,001,868 | 834,150 | 1.50% | Shares |
| BRAIDWELL LP | $57,957,904 | 594,562 | 1.24% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $55,574,810 | 570,115 | 1.19% | Shares |
| AMERIPRISE FINANCIAL INC | $49,641,680 | 509,247 | 1.06% | Shares |
| Woodline Partners LP | $48,793,419 | 500,548 | 1.04% | Shares |
| MPM BIOIMPACT LLC | $40,941,795 | 420,002 | 0.87% | Shares |
| Affinity Asset Advisors, LLC | $38,992,000 | 400,000 | 0.83% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $38,017,200 | 390,000 | 0.81% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $35,674,073 | 365,963 | 0.76% | Shares |
| Bain Capital Life Sciences Investors, LLC | $35,333,576 | 362,470 | 0.75% | Shares |
| Spruce Street Capital LP | $34,587,464 | 354,816 | 0.74% | Shares |
| Vivo Capital, LLC | $34,507,725 | 353,998 | 0.74% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $30,697,817 | 314,914 | 0.66% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $29,702,156 | 304,700 | 0.63% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $29,485,945 | 302,482 | 0.63% | Shares |
| Driehaus Capital Management LLC | $28,782,530 | 295,266 | 0.61% | Shares |
| First Turn Management, LLC | $27,856,957 | 285,771 | 0.59% | Shares |
| Assenagon Asset Management S.A. | $27,357,665 | 280,649 | 0.58% | Shares |
| TANG CAPITAL MANAGEMENT LLC | $25,802,176 | 264,692 | 0.55% | Shares |
| Artisan Partners Limited Partnership | $25,176,062 | 258,269 | 0.54% | Shares |
| RTW INVESTMENTS, LP | $24,181,181 | 248,063 | 0.52% | Shares |
| EMERALD ADVISERS, LLC | $24,156,031 | 247,805 | 0.52% | Shares |
| Pictet Asset Management Holding SA | $24,106,317 | 247,295 | 0.51% | Shares |
| TD Asset Management Inc | $21,965,558 | 225,334 | 0.47% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $21,958,442 | 225,261 | 0.47% | Shares |
| Candriam S.C.A. | $19,887,628 | 204,214 | 0.42% | Shares |
| STEMPOINT CAPITAL LP | $19,578,955 | 200,851 | 0.42% | Shares |
| Qube Research & Technologies Ltd | $19,196,152 | 196,924 | 0.41% | Shares |
| BANK OF AMERICA CORP /DE/ | $19,072,742 | 195,658 | 0.41% | Shares |
| Nicholas Investment Partners, LP | $18,206,242 | 186,769 | 0.39% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $18,033,800 | 185,000 | 0.39% | Shares |
| GOLDMAN SACHS GROUP INC | $17,941,974 | 184,058 | 0.38% | Shares |
| Ensign Peak Advisors, Inc | $16,979,749 | 174,187 | 0.36% | Shares |
| Artia Global Partners LP | $15,888,265 | 162,990 | 0.34% | Shares |
| Balyasny Asset Management L.P. | $15,792,247 | 162,005 | 0.34% | Shares |
| Alyeska Investment Group, L.P. | $14,679,708 | 150,592 | 0.31% | Shares |
| Eagle Health Investments LP | $12,803,413 | 131,344 | 0.27% | Shares |
| EMERALD MUTUAL FUND ADVISERS TRUST | $12,771,635 | 131,018 | 0.27% | Shares |
| PFM Health Sciences, LP | $11,816,721 | 121,222 | 0.25% | Shares |
| Tri Locum Partners LP | $11,767,006 | 120,712 | 0.25% | Shares |
| ORBIMED ADVISORS LLC | $11,210,200 | 115,000 | 0.24% | Shares |
| Patient Square Capital LP | $10,527,840 | 108,000 | 0.22% | Shares |
| TWO SIGMA INVESTMENTS, LP | $10,474,713 | 107,455 | 0.22% | Shares |
| NEUBERGER BERMAN GROUP LLC | $10,217,951 | 104,821 | 0.22% | Shares |
| Caption Management, LLC | $10,128,172 | 103,900 | 0.22% | Call option |
| SEVEN GRAND MANAGERS, LLC | $9,748,000 | 100,000 | 0.21% | Shares |
| Iron Triangle Partners LP | $9,508,383 | 230,730 | 0.20% | Shares |
| Atika Capital Management LLC | $9,417,738 | 96,612 | 0.20% | Shares |
| FIRST TRUST ADVISORS LP | $9,177,936 | 94,152 | 0.20% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $9,133,876 | 93,700 | 0.20% | Call option |
| BlackRock, Inc. | $9,082,017 | 93,168 | 0.19% | Shares |
| MILLENNIUM MANAGEMENT LLC | $8,952,368 | 91,838 | 0.19% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $8,608,947 | 88,315 | 0.18% | Shares |
| Russell Investments Group, Ltd. | $8,608,137 | 88,306 | 0.18% | Shares |
| AMERICAN CENTURY COMPANIES INC | $8,564,593 | 87,860 | 0.18% | Shares |
| Rhenman & Partners Asset Management AB | $8,395,660 | 86,127 | 0.18% | Shares |
| Caption Management, LLC | $7,505,960 | 77,000 | 0.16% | Put option |
| SAMLYN CAPITAL, LLC | $7,304,859 | 74,937 | 0.16% | Shares |
| Moody Aldrich Partners LLC | $7,267,329 | 74,552 | 0.16% | Shares |
| Swiss National Bank | $7,194,024 | 73,800 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,116,040 | 73,000 | 0.15% | Put option |
| MERCER GLOBAL ADVISORS INC /ADV | $6,402,779 | 65,683 | 0.14% | Shares |
| LPL Financial LLC | $6,365,029 | 65,295 | 0.14% | Shares |
| SummitTX Capital, L.P. | $6,225,658 | 63,866 | 0.13% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $6,124,571 | 62,829 | 0.13% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $5,853,479 | 60,048 | 0.13% | Shares |
| Sio Capital Management, LLC | $5,776,080 | 59,254 | 0.12% | Shares |
| RHUMBLINE ADVISERS | $5,704,614 | 58,521 | 0.12% | Shares |
| Jones Hill Capital LP | $5,566,108 | 57,100 | 0.12% | Shares |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC | $5,560,454 | 57,042 | 0.12% | Shares |
| ALPS ADVISORS INC | $5,388,792 | 55,281 | 0.12% | Shares |
| CITIGROUP INC | $5,274,935 | 54,113 | 0.11% | Shares |
| HighVista Strategies LLC | $4,983,665 | 51,125 | 0.11% | Shares |
| Burkehill Global Management, LP | $4,874,000 | 50,000 | 0.10% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $4,738,406 | 48,609 | 0.10% | Shares |
| JANE STREET GROUP, LLC | $4,484,080 | 46,000 | 0.10% | Call option |
| Seven Fleet Capital Management LP | $4,257,147 | 43,672 | 0.09% | Shares |
| CITADEL ADVISORS LLC | $4,230,632 | 43,400 | 0.09% | Put option |
| Schonfeld Strategic Advisors LLC | $4,223,027 | 43,322 | 0.09% | Shares |
| D. E. Shaw & Co., Inc. | $4,184,621 | 42,928 | 0.09% | Shares |
| JANE STREET GROUP, LLC | $3,986,932 | 40,900 | 0.09% | Put option |
Company insiders 36 insiders · 10 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Ryan Savitz | EVP, CFO & CBO | July 9, 2026 M | 0 | 0 | 4 | $-3,857,151 |
| Simrat Randhawa | EVP, Head of R&D | June 1, 2026 M | 4,000 | 0 | 3 | $-2,404,077 |
| David Wayne Nichols | Chief Technical Officer | Aug. 1, 2022 A | 14,306 | 0 | 0 | $0 |
| Lisa Olson | Title: Head of Research and Chief Scientific Officer Exhibit 24.1: Power of Attorney | Aug. 1, 2022 A | 14,264 | 0 | 0 | $0 |
| Jeffrey Humphrey | Chief Medical Officer | Aug. 1, 2022 A | — | 0 | 0 | $0 |
| John C. Davis JR | Title: Head of Research and Development and Chief Medical Officer | Feb. 11, 2021 A | 8,304 | 0 | 0 | $0 |
| Zoran Zdraveski | Title: Secretary and Chief Legal and Technology Operations Officer | Feb. 11, 2021 A | 140,092 | 0 | 0 | $0 |
| Christina K. Isacson | Chief Business Officer | Feb. 10, 2020 A | 103,531 | 0 | 0 | $0 |
| Jason Ryan | Title: Chief Operating and Financial Officer | Feb. 10, 2020 A | — | 0 | 0 | $0 |
| COOKE MICHAEL P. | Chief Scientific Officer | Feb. 5, 2019 A | 293,023 | 0 | 0 | $0 |
| Jonathan Violin | Director | May 22, 2025 A | — | 0 | 0 | $0 |
| Paula Soteropoulos | Director | May 22, 2025 A | — | 0 | 0 | $0 |
| Steven J. Romano | Director | May 22, 2025 A | — | 0 | 0 | $0 |
| Alison Frances Lawton | Director | May 22, 2025 A | — | 0 | 0 | $0 |
| MOULDER LEON O JR | Director | May 23, 2024 A | 1,436,745 | 0 | 0 | $0 |
| Michael Vasconcelles | Director | Aug. 15, 2022 A | — | 0 | 0 | $0 |
| David Scadden | Director | June 28, 2022 A | 228,175 | 0 | 0 | $0 |
| Jeffrey W. Albers | Director | June 28, 2022 A | 4,152 | 0 | 0 | $0 |
| Thomas O Daniel | Director | June 28, 2022 A | 101,926 | 0 | 0 | $0 |
| Bruce Booth | Director | June 28, 2022 A | 1,250,000 | 0 | 0 | $0 |
| Amy L Ronneberg | Director | June 28, 2022 A | 593,611 | 0 | 0 | $0 |
| Alexis Borisy | Director | Aug. 26, 2021 J | 4,100 | 0 | 0 | $0 |
| Michael W Bonney | Director | June 1, 2021 A | 215,346 | 0 | 0 | $0 |
| Blake Byers | Director | June 5, 2020 A | 3,339,137 | 0 | 0 | $0 |
| Atlas Venture Fund X, L.P. | 10% owner | Feb. 11, 2021 J | 3,148,399 | 0 | 0 | $0 |
| Adam M Veness | — | Aug. 13, 2026 M | 15,000 | 0 | 5 | $-4,632,790 |
| Anne Mcgeorge | — | Aug. 10, 2026 M | 0 | 0 | 5 | $-844,822 |
| Simon Read | — | Aug. 10, 2026 M | 0 | 0 | 6 | $-304,232 |
| Marino Garcia | — | Aug. 7, 2026 M | 65,292 | 0 | 7 | $-17,945,450 |
| Sujay Kango | — | May 21, 2026 A | — | 0 | 0 | $0 |
| Edward Carr | — | March 12, 2026 M | 0 | 0 | 5 | $-3,559,495 |
| Caren Deardorf | — | Nov. 30, 2022 A | 19,762 | 0 | 0 | $0 |
| Kristen Stants | — | Nov. 30, 2022 A | 20,264 | 0 | 0 | $0 |
| Stephen F. Mahoney | — | Nov. 30, 2022 A | 17,264 | 0 | 0 | $0 |
| Thomas W. Beetham | — | Nov. 30, 2022 A | 19,897 | 0 | 0 | $0 |
| Jason Gardner | — | Nov. 30, 2022 A | 292,872 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| Fairmount Funds Management LLC, Fairmount Healthcare Fund II L.P., Peter Evan Harwin, Tomas Kiselak ×5 filings | Nov. 25, 2025 | 4.90% | Amendment | — | SEC |
| Avidity Partners Management LP, Avidity Partners Management (GP) LLC, Avidity Capital Partners Fund (GP) LP, Avidity Capital Partners (GP) LLC, Avidity Private Master Fund I LP, Michael Gregory ×4 filings | Nov. 19, 2025 | 4.90% | Amendment | Passive investment | SEC |
| Viridian, LLC ×2 filings | Sept. 12, 2024 | — | Initial filing | — | SEC |
| ATLAS VENTURE FUND X, L.P., ATLAS VENTURE ASSOCIATES X, L.P., Atlas Venture Associates X, LLC, Atlas Venture Opportunity Fund I, L.P., Atlas Venture Associates Opportunity I, L.P., Atlas Venture Associates Opportunity I, LLC ×4 filings | Sept. 15, 2023 | — | 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 49 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. | 3.09% | 34,884 NS | May 31, 2026 | N-PORT |
| SBIO · ALPS ETF Trust | 2.64% | 45,839 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 1.54% | 6,551 NS | April 30, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.57% | 33,605 NS | April 30, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.47% | 55,660 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.26% | 76,617 NS | May 31, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.20% | 1,151 NS | May 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.18% | 24,819 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 14,250 NS | April 30, 2026 | N-PORT |
| FFSM · FIDELITY COVINGTON TRUST | 0.15% | 22,043 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.10% | 15,526 NS | April 30, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.09% | 5,190 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.08% | 1,687 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.07% | 177,996 NS | May 31, 2026 | N-PORT |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.06% | 66 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.05% | 5,283 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.05% | 16,047 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.05% | 1,320 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.04% | 71,218 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.04% | 1,340 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 34 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 3,958 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 869 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 11,461 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 7,297 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 27,975 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 21,529 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 770 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 4,404 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 1,591 NS | May 31, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 31 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | — | — | July 30, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| ITOT · iShares Trust | — | — | July 22, 2026 | Daily |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWO · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 23, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |
| ISCB · iShares Trust | — | — | July 21, 2026 | Daily |
| ISCV · iShares Trust | — | — | July 20, 2026 | Daily |
| SMMV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| ESML · iShares Trust | — | — | Aug. 14, 2026 | Daily |
| IBRN · iShares Trust | — | — | Aug. 6, 2026 | Daily |
| WSML · iShares Trust | — | — | July 20, 2026 | Daily |