ELDN Eledon Pharmaceuticals, Inc. - Common Stock
ELDN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
ELDN 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
ELDN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 4 33.3%
- Buy 7 58.3%
- Hold 1 8.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-19Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.33 | $-0.19 | -0.14% |
| Dec. 31, 2025 | $-0.10 | $-0.21 | 0.11% |
| Sept. 30, 2025 | $-0.21 | $-0.26 | 0.04% |
| June 30, 2025 | $-0.13 | $-0.23 | 0.10% |
| March 31, 2025 | $-0.08 | $-0.31 | 0.23% |
| Dec. 31, 2024 | $0.67 | $-0.32 | 0.99% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ELDN | $114M | -2.9 | — | — | -69.4% | — |
| VNDA | $521M | -2.4 | 8.7% | -102.0% | -54.2% | — |
| CAMP | $318M | -2.3 | 436.5% | -2298.5% | -183.4% | — |
| IRD | $140M | -2.5 | 29.1% | -349.3% | -302.2% | — |
| AVXL | $771M | -16.5 | -36.1% | -991.4% | -47.7% | — |
| MYGN | $575M | -1.6 | -1.6% | -44.4% | -96.8% | 69.9% |
| ANIK | $133M | -12.6 | -5.9% | -9.6% | -7.5% | 56.6% |
| TRDA | $394M | -3.0 | -87.9% | -565.5% | -41.9% | — |
| RNAC | $188M | -1.4 | -92.8% | -4658.6% | 202.4% | — |
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 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | |
| R&D Expense | $66M | $52M | $30M | $27M | $24M | $6M | $8M | $7M | $2M | $3M | $33M | $15M | |
| SG&A Expense | $17M | $19M | $13M | $13M | $13M | $10M | $6M | $7M | $11M | $2M | $13M | $9M | |
| Operating Expenses | $83M | $71M | $43M | $88M | $37M | $18M | $16M | $14M | $13M | $5M | $45M | $23M | |
| Operating Income | · | · | $-43M | $-88M | $-37M | $-18M | $-16M | $-14M | $-13M | $-5M | $-45M | $-23M | |
| Other Non-op | $4M | $4M | $3M | $462.0K | $7.0K | $79.0K | $40.0K | $-5.0K | $5.0K | $-527.0K | · | $166.0K | |
| Pretax Income | $-46M | $-36M | $-117M | $-88M | $-37M | $-23M | $-16M | $-14M | $-13M | $-6M | · | · | |
| Income Tax | $35.0K | $431.0K | $0 | $0 | $-2M | $-404.0K | · | · | · | $0 | $0 | $0 | |
| Net Income | $-46M | $-36M | $-117M | $-88M | $-35M | $-23M | $-16M | $-14M | $-13M | $-6M | $-45M | $-23M | |
| EPS (Basic) | $-0.52 | $-0.66 | $-4.73 | $-6.16 | $-2.33 | · | · | · | · | · | · | · | |
| EPS (Diluted) | $-0.52 | $-0.66 | $-4.73 | $-6.16 | $-2.33 | · | · | · | · | · | · | · | |
| Shares (Basic) | 81,836,246 | 48,543,787 | 24,619,197 | 14,285,254 | 14,819,582 | · | · | · | · | · | · | · | |
| Shares (Diluted) | 81,836,246 | 48,543,787 | 24,619,197 | 14,285,254 | 14,819,582 | · | · | · | · | · | · | · | |
| EBITDA | · | · | · | $-88M | $-37M | $-18M | $-16M | · | $-13M | · | $-45M | $-23M |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $23M | $21M | $5M | $56M | $85M | $114M | $9M | $13M | $17M | $1M | $24M | $105M | |
| Short-term Investments | $111M | $120M | $46M | $0 | · | · | · | · | · | · | · | · | |
| Prepaid Expense | $2M | $4M | $5M | $3M | $4M | $1M | $1M | $1M | $2M | $33.0K | $3M | $2M | |
| Other Current Assets | $11.0K | $104.0K | $90.0K | $28.0K | $34.0K | $38.0K | $54.0K | $36.0K | $18.0K | $33.0K | · | · | |
| Current Assets | $136M | $144M | $56M | $60M | $88M | $116M | $10M | $14M | $19M | $1M | $67M | $108M | |
| PP&E (Net) | · | · | · | · | · | · | $5.0K | $14.0K | $25.0K | $31.0K | $489.0K | $33.0K | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | $228.0K | $654.0K | $91.0K | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | $130.0K | $165.0K | $58.0K | |
| Goodwill | · | · | $0 | $0 | $49M | $49M | · | $2M | $2M | · | · | · | |
| Other Non-current Assets | $322.0K | $363.0K | $186.0K | $150.0K | $400.0K | $383.0K | $639.0K | $869.0K | · | $15.0K | $45.0K | · | |
| Total Assets | $169M | $177M | $89M | $93M | $171M | $197M | $11M | $17M | $21M | $1M | $68M | $108M | |
| Accounts Payable | $4M | $6M | $967.0K | $2M | $2M | $1M | $329.0K | $689.0K | $418.0K | $338.0K | $1M | $765.0K | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | $113.0K | $5M | $3M | |
| Current Liabilities | $18M | $12M | $4M | $6M | $4M | $2M | $1M | $3M | · | $4M | $6M | $4M | |
| Capital Leases | $283.0K | $640.0K | $0 | $383.0K | $400.0K | · | $144.0K | · | · | · | · | · | |
| Deferred Tax | $2M | $2M | $2M | $2M | $2M | $4M | · | · | · | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | · | · | · | $88.0K | · | |
| Total Liabilities | $32M | $59M | $82M | $9M | $7M | $7M | $1M | $3M | $1M | $4M | $6M | $4M | |
| Common Stock | $75.0K | $60.0K | $24.0K | $14.0K | $14.0K | $15.0K | $1.0K | $9.0K | $7.0K | $1.0K | $23.0K | $22.0K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | $190M | |
| Retained Earnings | $-401M | $-356M | $-319M | $-203M | $-115M | $-80M | $-58M | $-42M | $-28M | $-14M | $-131M | $-86M | |
| AOCI | $24.0K | $26.0K | · | · | · | · | · | · | · | $-1.0K | $-55.0K | · | |
| Stockholders' Equity | $81M | $62M | $-48M | $24M | $164M | $191M | $9M | $14M | $19M | $-3M | $3M | $104M | |
| Liabilities + Equity | $169M | $177M | $89M | $93M | $171M | $197M | $11M | $17M | $21M | $1M | $68M | $108M | |
| Shares Outstanding | 75,430,033 | 59,789,275 | 24,213,130 | 13,776,788 | 14,306,788 | 15,160,397 | 720,408 | 9,422,143 | 7,110,414 | 394,306 | 22,597,144 | 22,382,340 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | $5.0K | $9.0K | $11.0K | $22.0K | $35.0K | · | · | |
| Stock-based Comp | · | · | · | · | · | · | · | · | · | · | · | $2M | |
| Deferred Tax | $5.0K | $431.0K | · | · | $-2M | $-404.0K | · | · | · | · | · | · | |
| Restructuring | · | · | · | · | $2M | $2M | · | · | · | · | · | · | |
| Operating Cash Flow | $-62M | $-47M | $-40M | $-28M | $-29M | $-15M | $-14M | $-12M | $-15M | $-5M | $-41M | $-21M | |
| CapEx | · | · | · | · | · | · | · | · | · | $9.0K | $565.0K | $25.0K | |
| Investing Cash Flow | $11M | $-70M | $-45M | · | · | $11M | · | · | $23M | · | · | · | |
| Stock Issued | · | · | · | · | · | $9M | $10M | $7M | $5M | · | · | · | |
| Net Stock Activity | · | · | · | · | · | $9M | $10M | · | $5M | · | · | · | |
| Financing Cash Flow | $54M | $134M | $33M | · | $-449.0K | $110M | $10M | $8M | $8M | · | · | · | |
| Net Change in Cash | $2M | $16M | $-52M | $-28M | $-29M | $105M | $-4M | $-4M | $16M | $-2M | $-81M | $74M | |
| Taxes Paid | $28.0K | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | $-42M | $-21M |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -26.3% | · | · | -66.8% | -18.8% | -21.9% | -114.5% | · | -118.8% | · | -51.3% | -33.3% | |
| ROE | -69.4% | · | · | -78.1% | -20.6% | -21.5% | -140.3% | · | -156.6% | · | -54.6% | -96.6% | |
| ROIC | · | · | · | -105.0% | -21.0% | -9.5% | · | · | · | · | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.4 | · | · | 9.2 | 20.1 | 46.6 | 7.5 | · | · | · | 10.9 | 25.3 | |
| Quick Ratio | 7.3 | · | · | 8.7 | 19.3 | 46.0 | 6.6 | · | · | · | 3.9 | 24.8 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | · | · | · | · | · | · | · | 0.0 | 0.0 |
Valuation (TTM) 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income TTM | $-46M | $-36M | $-117M | $-88M | $-35M | $-23M | $-16M | $-14M | $-13M | $-6M | $-45M | $-23M | |
| Market Cap | $114M | · | · | $31M | $63M | $233M | $135M | · | $520M | · | $31.92B | $53.45B | |
| P/E | -2.9 | -6.2 | -0.4 | -0.4 | -1.9 | · | · | · | · | · | · | · | |
| P/B | 1.4 | · | · | 0.4 | 0.4 | 1.2 | 14.3 | · | 26.7 | · | 517.2 | 516.4 | |
| P / Tangible Book | 1.4 | 3.9 | · | 1.3 | 0.5 | 1.6 | · | · | · | · | · | · | |
| P / Cash Flow | -1.8 | · | · | -1.1 | -2.2 | -15.3 | -9.8 | · | -34.8 | · | -774.1 | -2530.5 | |
| P / FCF | · | · | · | · | · | · | · | · | · | · | -763.7 | -2527.5 | |
| Earnings Yield | -34.4% | -16.0% | -262.8% | -270.2% | -52.8% | · | · | · | · | · | · | · |
Income Statement 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $18M | $17M | $17M | $15M | $20M | $14M | $18M | $17M | $10M | $7M | $7M | $8M | $7M | $8M | $7M | $7M | |
| SG&A Expense | $5M | $4M | $4M | $4M | $4M | $4M | $7M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Operating Expenses | $23M | $21M | $21M | $19M | $25M | $18M | $25M | $21M | $15M | $11M | $10M | $11M | $10M | $11M | $59M | $11M | |
| Operating Income | $-23M | $-21M | · | $-19M | $-25M | $-18M | · | $-21M | $-15M | $-11M | · | $-11M | $-10M | $-11M | · | $-11M | |
| Other Non-op | $862.0K | $1M | $540.0K | $1M | $1M | $1M | $1M | $1M | $869.0K | $574.0K | $712.0K | $849.0K | $775.0K | $338.0K | $304.0K | $127.0K | |
| Pretax Income | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $-58M | $-10M | |
| Net Income | $-32M | $-39M | $-10M | $-17M | $-11M | $-6M | $-45M | $77M | $-45M | $-24M | $-30M | $-10M | $-66M | $-11M | $-58M | $-10M | |
| EPS (Basic) | $-0.27 | $-0.33 | $-0.10 | $-0.21 | $-0.13 | $-0.08 | $-0.14 | $1.05 | $-0.92 | $-0.65 | · | $-0.33 | $-2.74 | $-0.75 | $-4.09 | $-0.73 | |
| EPS (Diluted) | $-0.27 | $-0.33 | $-0.10 | $-0.21 | $-0.13 | $-0.08 | $1.19 | $-0.28 | $-0.92 | $-0.65 | · | $-0.33 | $-2.74 | $-0.75 | $-4.09 | $-0.73 | |
| Shares (Basic) | 113,631,565 | 112,424,211 | -149,602,653 | 77,156,068 | 77,156,068 | 77,126,763 | -75,669,944 | 51,945,920 | 42,278,411 | 29,989,400 | · | 29,974,400 | 24,006,549 | 14,285,905 | -28,577,249 | 14,265,905 | |
| Shares (Diluted) | 113,631,565 | 112,424,211 | -149,602,653 | 77,156,068 | 77,156,068 | 77,126,763 | -79,202,366 | 55,478,342 | 42,278,411 | 29,989,400 | · | 29,974,400 | 24,006,549 | 14,285,905 | -28,577,249 | 14,265,905 | |
| EBITDA | $-23M | $-21M | · | $-19M | $-25M | $-18M | · | $-21M | $-15M | $-11M | · | $-11M | $-10M | $-11M | · | $-11M |
Balance Sheet 19
| 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 | $7M | $6M | $23M | $4M | $6M | $8M | $21M | $7M | $26M | $6M | $5M | $4M | $41M | $46M | $56M | $66M | |
| Short-term Investments | $82M | $105M | $111M | $90M | $102M | $116M | $120M | $71M | $58M | $37M | $46M | $56M | $30M | · | $0 | · | |
| Prepaid Expense | $4M | $2M | $2M | $3M | $4M | $3M | $4M | $3M | $4M | $5M | $5M | $3M | $2M | $2M | $3M | $2M | |
| Other Current Assets | $382.0K | $9.0K | $11.0K | $14.0K | $10.0K | $55.0K | $104.0K | $442.0K | $157.0K | $54.0K | $90.0K | $90.0K | $238.0K | $47.0K | $28.0K | $57.0K | |
| Current Assets | $93M | $114M | $136M | $96M | $111M | $128M | $144M | $82M | $87M | $48M | $56M | $63M | $74M | $49M | $60M | $68M | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $49M | |
| Other Non-current Assets | $172.0K | $177.0K | $322.0K | $476.0K | $346.0K | $354.0K | $363.0K | $210.0K | $255.0K | $185.0K | $186.0K | $233.0K | $224.0K | $369.0K | $150.0K | $155.0K | |
| Total Assets | $126M | $147M | $169M | $130M | $145M | $161M | $177M | $115M | $120M | $81M | $89M | $96M | $107M | $82M | $93M | $150M | |
| Accounts Payable | $3M | $7M | $4M | $5M | $6M | $3M | $6M | $6M | $2M | $2M | $967.0K | $465.0K | $2M | $3M | $2M | $4M | |
| Current Liabilities | $12M | $13M | $18M | $14M | $14M | $9M | $12M | $12M | $6M | $4M | $4M | $3M | $5M | $5M | $6M | $6M | |
| Capital Leases | $86.0K | $186.0K | $283.0K | $376.0K | $467.0K | $555.0K | $640.0K | $315.0K | $386.0K | $0 | · | $83.0K | $184.0K | $284.0K | $383.0K | $461.0K | |
| Deferred Tax | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Total Liabilities | $54M | $46M | $32M | $39M | $39M | $47M | $59M | $39M | $129M | $96M | $82M | $5M | $7M | $8M | $9M | $8M | |
| Common Stock | $81.0K | $76.0K | $75.0K | $60.0K | $60.0K | $60.0K | $60.0K | $41.0K | $39.0K | $25.0K | $24.0K | $24.0K | $23.0K | $14.0K | $14.0K | $14.0K | |
| Retained Earnings | $-472M | $-440M | $-401M | $-391M | $-373M | $-362M | $-356M | $-311M | $-388M | $-343M | $-319M | $-234M | $-223M | $-214M | $-203M | $-144M | |
| AOCI | $-114.0K | $-72.0K | $24.0K | $9.0K | $-48.0K | $-18.0K | $26.0K | $102.0K | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $33M | $45M | $81M | $35M | $50M | $59M | $62M | $76M | $-9M | $-15M | $-48M | $91M | $100M | $75M | $84M | $141M | |
| Liabilities + Equity | $126M | $147M | $169M | $130M | $145M | $161M | $177M | $115M | $120M | $81M | $89M | $96M | $107M | $82M | $93M | $150M | |
| Shares Outstanding | 80,891,404 | 75,851,722 | 75,430,033 | 59,881,775 | 59,881,775 | 59,881,775 | 59,789,275 | 41,183,102 | 38,506,614 | 24,813,130 | 24,213,130 | 23,545,130 | 23,043,933 | 13,776,788 | 13,776,788 | 13,756,788 |
Cash Flow 4
| 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 | $-23M | $-23M | $-14M | $-14M | $-18M | $-16M | $-19M | $-12M | $-8M | $-9M | $-9M | $-12M | $-8M | $-10M | $-9M | $-5M | |
| Investing Cash Flow | $23M | $6M | $-20M | $12M | $15M | $4M | $-47M | $-13M | $-20M | $10M | $10M | $-25M | · | · | · | · | |
| Financing Cash Flow | · | · | $54M | $0 | $0 | $115.0K | $80M | $5M | $48M | $1.0K | $0 | $0 | · | · | · | · | |
| Net Change in Cash | $651.0K | $-17M | $19M | $-2M | $-3M | $-12M | $14M | $-19M | $20M | $1M | $945.0K | $-37M | $-6M | $-10M | $-9M | $-5M |
Profitability 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -23.3% | -25.3% | · | -14.3% | -8.5% | · | · | 73.1% | -39.5% | · | · | -8.4% | -7.3% | -8.8% | · | -6.4% | |
| ROE | -75.9% | -75.3% | · | -31.3% | -53.6% | · | · | 92.0% | -98.2% | · | · | -8.9% | -7.7% | -9.3% | · | -6.7% |
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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.9 | 8.4 | · | 6.7 | 8.1 | 13.9 | · | 6.5 | 14.5 | 11.3 | · | 21.7 | 15.0 | 8.9 | · | 10.8 | |
| Quick Ratio | 7.5 | 8.3 | · | 6.5 | 7.8 | 13.6 | · | 6.3 | 13.9 | 10.1 | · | 20.6 | 14.6 | 8.5 | · | 10.5 |
Valuation (TTM) 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Net Income TTM | $-99M | $-74M | · | $42M | $14M | $2M | · | $-1M | $-144M | $-110M | · | $-97M | $-96M | $-40M | · | $-39M | |
| Market Cap | $319M | $234M | · | $155M | $162M | $203M | · | $103M | $102M | $51M | · | $32M | $32M | $33M | · | $38M | |
| P/E | -4.2 | -4.1 | · | -3.7 | -1.9 | -1.8 | · | -1.1 | -0.6 | -0.5 | · | -0.3 | -0.3 | -0.8 | · | -1.0 | |
| P/B | 9.7 | 5.2 | · | 4.4 | 3.2 | 3.4 | · | 1.3 | -12.0 | -3.5 | · | 0.4 | 0.3 | 0.4 | · | 0.3 | |
| P / Tangible Book | 9.7 | 5.2 | · | 4.4 | 3.2 | 3.4 | · | 1.3 | · | · | · | 0.4 | 0.3 | 0.4 | · | 0.4 | |
| P / Cash Flow | · | -10.3 | · | · | · | -12.6 | · | · | · | -5.8 | · | · | · | -3.3 | · | · | |
| Earnings Yield | -23.9% | -24.3% | · | -27.0% | -52.0% | -56.9% | · | -87.5% | -175.8% | -217.0% | · | -332.1% | -355.5% | -119.5% | · | -98.9% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Net Income | $-46M | $-36M | $-117M | $-88M | $-35M |
| Diluted EPS | $-0.52 | $-0.66 | $-4.73 | $-6.16 | $-2.33 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 7.4 | — | — | 9.2 | 20.1 |
| Quick Ratio | 7.3 | — | — | 8.7 | 19.3 |
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Institutional owners (13F) 171 filers · $146.2M 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 57 (+18 vs prior Q) | 9 (-5 vs prior Q) | 54 (+21 vs prior Q) | 26 (+5 vs prior Q) | +5.9M |
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 |
|---|---|---|---|---|
| BVF INC/IL | $24,795,531 | 6,293,282 | 16.97% | Shares |
| Defilade Capital Management, L.P. | $13,889,832 | 3,525,338 | 9.50% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $13,463,859 | 3,417,223 | 9.21% | Shares |
| Ensign Peak Advisors, Inc | $8,278,823 | 2,101,224 | 5.66% | Shares |
| Catalio Capital Management, LP | $6,678,580 | 1,695,071 | 4.57% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,603,582 | 1,675,564 | 4.52% | Shares |
| STATE STREET CORP | $6,390,558 | 1,621,969 | 4.37% | Shares |
| Zimmer Partners, LP | $6,290,600 | 1,596,599 | 4.30% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $4,693,277 | 1,191,187 | 3.21% | Shares |
| AWM Investment Company, Inc. | $4,334,000 | 1,100,000 | 2.97% | Shares |
| KINGDON CAPITAL MANAGEMENT, L.L.C. | $4,094,744 | 1,039,275 | 2.80% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,860,065 | 979,712 | 2.64% | Shares |
| GOLDMAN SACHS GROUP INC | $2,703,782 | 686,239 | 1.85% | Shares |
| ADAR1 Capital Management, LLC | $2,552,379 | 647,812 | 1.75% | Shares |
| 22NW, LP | $2,507,274 | 636,364 | 1.72% | Shares |
| CM Management, LLC | $2,265,500 | 575,000 | 1.55% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $2,245,264 | 569,864 | 1.54% | Shares |
| Blue Owl Capital Holdings LP | $2,232,045 | 566,509 | 1.53% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,101,458 | 533,365 | 1.44% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,084,114 | 528,963 | 1.43% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,837,624 | 466,402 | 1.26% | Shares |
| Triumph Capital Management | $1,195,565 | 303,443 | 0.82% | Shares |
| Brevan Howard Capital Management LP | $1,174,645 | 304,707 | 0.80% | Shares |
| CITADEL ADVISORS LLC | $1,100,836 | 279,400 | 0.75% | Put option |
| JANE STREET GROUP, LLC | $1,095,320 | 278,000 | 0.75% | Put option |
| BIT Capital GmbH | $1,048,040 | 266,000 | 0.72% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $993,794 | 252,232 | 0.68% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $978,302 | 248,300 | 0.67% | Put option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $974,772 | 247,404 | 0.67% | Shares |
| CITADEL ADVISORS LLC | $850,934 | 215,973 | 0.58% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $791,546 | 200,900 | 0.54% | Shares |
| VANGUARD GROUP INC | $680,989 | 450,986 | 0.47% | Shares |
| LPL Financial LLC | $440,078 | 111,695 | 0.30% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $432,774 | 109,841 | 0.30% | Shares |
| Maven Securities LTD | $394,000 | 100,000 | 0.27% | Shares |
| BANK OF AMERICA CORP /DE/ | $370,202 | 93,960 | 0.25% | Shares |
| RHUMBLINE ADVISERS | $349,112 | 88,609 | 0.24% | Shares |
| SIMPLEX TRADING, LLC | $349,072 | 88,597 | 0.24% | Shares |
| Prodigy Asset Management LLC | $341,610 | 86,703 | 0.23% | Shares |
| Daytona Street Capital LLC | $313,301 | 81,166 | 0.21% | Shares |
| Rockefeller Capital Management L.P. | $286,304 | 72,666 | 0.20% | Shares |
| Susquehanna Portfolio Strategies, LLC | $283,361 | 71,919 | 0.19% | Shares |
| WELLS FARGO & COMPANY/MN | $273,042 | 69,300 | 0.19% | Shares |
| Shay Capital LLC | $252,160 | 64,000 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $236,006 | 59,900 | 0.16% | Call option |
| PW Nova Financial Services LLC | $228,682 | 58,041 | 0.16% | Shares |
| Mariner, LLC | $197,149 | 50,041 | 0.13% | Shares |
| IEQ CAPITAL, LLC | $189,770 | 48,165 | 0.13% | Shares |
| Bank of New York Mellon Corp | $179,928 | 45,667 | 0.12% | Shares |
| WOLVERINE TRADING, LLC | $179,324 | 70,600 | 0.12% | Put option |
| MetLife Investment Management, LLC | $161,217 | 40,918 | 0.11% | Shares |
| BlackRock, Inc. | $160,468 | 40,728 | 0.11% | Shares |
| Russell Investments Group, Ltd. | $159,499 | 40,482 | 0.11% | Shares |
| Kera Capital Partners, Inc. | $158,420 | 40,208 | 0.11% | Shares |
| WOLVERINE TRADING, LLC | $151,318 | 59,574 | 0.10% | Shares |
| XTX Topco Ltd | $150,930 | 38,307 | 0.10% | Shares |
| NAVELLIER & ASSOCIATES INC | $141,545 | 35,925 | 0.10% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $139,764 | 35,473 | 0.10% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $133,268 | 34,615 | 0.09% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $131,986 | 33,499 | 0.09% | Shares |
| MORGAN STANLEY | $131,718 | 33,431 | 0.09% | Shares |
| TWO SIGMA INVESTMENTS, LP | $129,803 | 32,945 | 0.09% | Shares |
| CITIGROUP INC | $124,634 | 31,633 | 0.09% | Shares |
| JPMORGAN CHASE & CO | $123,904 | 31,934 | 0.08% | Shares |
| MARCO INVESTMENT MANAGEMENT LLC | $119,555 | 30,344 | 0.08% | Shares |
| Invesco Ltd. | $119,500 | 30,330 | 0.08% | Shares |
| Retirement Planning Group, LLC | $118,204 | 30,001 | 0.08% | Shares |
| HOWARD FINANCIAL SERVICES, LTD. | $118,200 | 30,000 | 0.08% | Shares |
| Cetera Investment Advisers | $113,736 | 28,867 | 0.08% | Shares |
| KESTRA PRIVATE WEALTH SERVICES, LLC | $108,350 | 27,500 | 0.07% | Shares |
| SEI INVESTMENTS CO | $106,857 | 27,121 | 0.07% | Shares |
| Nuveen, LLC | $106,857 | 27,121 | 0.07% | Shares |
| ALLIANCEBERNSTEIN L.P. | $99,792 | 32,400 | 0.07% | Shares |
| Vanguard Global Advisers, LLC | $98,248 | 24,936 | 0.07% | Shares |
| GROUP ONE TRADING LLC | $97,416 | 24,725 | 0.07% | Shares |
| Police & Firemen's Retirement System of New Jersey | $92,622 | 23,508 | 0.06% | Shares |
| Creative Planning | $92,428 | 23,459 | 0.06% | Shares |
| Scientech Research LLC | $90,005 | 22,844 | 0.06% | Shares |
| JANE STREET GROUP, LLC | $88,173 | 22,379 | 0.06% | Shares |
| Private Advisor Group, LLC | $85,735 | 21,760 | 0.06% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $84,517 | 21,451 | 0.06% | Shares |
| Jump Financial, LLC | $83,847 | 21,281 | 0.06% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $76,570 | 19,434 | 0.05% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $75,419 | 19,952 | 0.05% | Shares |
| Relyea Zuckerberg Hanson LLC | $66,980 | 17,000 | 0.05% | Shares |
| RAYMOND JAMES FINANCIAL INC | $66,728 | 16,936 | 0.05% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $65,841 | 16,711 | 0.05% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $65,230 | 16,556 | 0.04% | Shares |
| Baker Ellis Asset Management LLC | $63,040 | 16,000 | 0.04% | Shares |
| China Universal Asset Management Co., Ltd. | $63,040 | 16,000 | 0.04% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $62,670 | 15,906 | 0.04% | Shares |
| CITADEL ADVISORS LLC | $60,282 | 15,300 | 0.04% | Call option |
| BLAIR WILLIAM & CO/IL | $58,875 | 14,943 | 0.04% | Shares |
| JANE STREET GROUP, LLC | $57,524 | 14,600 | 0.04% | Call option |
| Revolve Wealth Partners, LLC | $55,723 | 14,143 | 0.04% | Shares |
| Waverly Advisors, LLC | $54,577 | 13,852 | 0.04% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $53,848 | 13,667 | 0.04% | Shares |
| NEUBERGER BERMAN GROUP LLC | $51,185 | 12,991 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $51,039 | 12,954 | 0.03% | Shares |
| SIGNATUREFD, LLC | $50,964 | 12,935 | 0.03% | Shares |
Company insiders 27 insiders · 8 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| David-Alexandre C Gros | Chief Executive Officer | July 31, 2026 F | 168,663 | 0 | 0 | $0 |
| Gregory J. Flesher | Chief Executive Officer | March 19, 2020 A | 171,556 | 0 | 0 | $0 |
| Paul Sean Little | Chief Financial Officer | Jan. 10, 2025 A | 10,000 | 0 | 0 | $0 |
| Lee Kalowski | Chief Financial Officer | April 2, 2015 S | 52,346 | 0 | 0 | $0 |
| Steven Perrin | President | July 31, 2026 F | 81,215 | 0 | 0 | $0 |
| Bryan E. Smith | General Counsel, Corporate Sec | Jan. 10, 2025 A | — | 0 | 0 | $0 |
| Jon Kuwahara | Senior Vice President of Finance and Administration | Sept. 11, 2020 A | 11,250 | 0 | 0 | $0 |
| Gerald E Quirk | General Counsel, Executive VP | May 26, 2015 A | — | 0 | 0 | $0 |
| Allan Kirk | Director | Jan. 10, 2026 M | 3,430 | 0 | 0 | $0 |
| Jan Hillson | Director | Jan. 10, 2026 M | 3,430 | 0 | 0 | $0 |
| James A. Robinson Jr. | Director | Jan. 10, 2026 M | 3,430 | 0 | 0 | $0 |
| June Lee | Director | Jan. 10, 2026 M | 3,430 | 0 | 0 | $0 |
| John S. Mcbride | Director | Jan. 10, 2026 M | 3,430 | 0 | 0 | $0 |
| Keith Katkin | Director | Jan. 10, 2026 M | 8,575 | 0 | 0 | $0 |
| Walter C Ogier | Director | May 1, 2023 A | — | 0 | 0 | $0 |
| LYONS GARY A | Director | May 1, 2023 A | — | 0 | 0 | $0 |
| CHIMOVITS EREZ | Director | Jan. 14, 2020 S | 3,183,314 | 0 | 0 | $0 |
| Cheryl Cohen | Director | July 11, 2019 A | — | 0 | 0 | $0 |
| Stephen Buckley Jr. | Director | Jan. 8, 2015 A | — | 0 | 0 | $0 |
| Apple Tree Partners II - Annex, L.P. | Director | Sept. 22, 2014 C | 3,568,438 | 0 | 0 | $0 |
| Seth Loring Harrison | Director | Sept. 22, 2014 C | 7,912,079 | 0 | 0 | $0 |
| APPLE TREE PARTNERS II LP | Director | Sept. 22, 2014 C | 4,218,641 | 0 | 0 | $0 |
| BARBERICH TIMOTHY J | Director | Sept. 22, 2014 C | 121,077 | 0 | 0 | $0 |
| Satter Muneer A | 10% owner | Sept. 22, 2014 C | 1,771,688 | 0 | 0 | $0 |
| Catherine C. Turkel | — | March 19, 2020 A | 98,199 | 0 | 0 | $0 |
| Jodie Pope Morrison | — | June 30, 2017 A | — | 0 | 0 | $0 |
| Christine Ocampo | — | May 24, 2017 A | 21,590 | 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 |
|---|---|---|---|---|---|
| OrbiMed Israel BioFund GP Limited Partnership, OrbiMed Israel GP Ltd. ×9 filings | Jan. 5, 2021 | — | Initial filing | — | SEC |
| Novartis Bioventures Ltd., Novartis AG ×3 filings | April 5, 2019 | — | Initial filing | — | SEC |
| Apple Tree Partners II, L.P., Apple Tree Ventures II, L.P., Apple Tree Partners II - Annex, L.P., Apple Tree Ventures II - Annex, LLC, Apple Tree Partners IV, L.P., ATP III GP, Ltd., Seth L. Harrison ×4 filings | May 15, 2018 | — | Initial filing | — | SEC |
| Novartis Bioventures Ltd. (2), Novartis AG (2) | May 16, 2017 | — | Initial filing | — | SEC |
| Otic Pharma, Ltd. | Jan. 5, 2017 | — | 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 17 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 |
|---|---|---|---|---|
| IWC · iShares Trust | 0.06% | 263,383 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.02% | 17,832 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 83,093 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 705,851 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 442,869 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,996,832 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 32,354 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 3,517 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 39,630 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 165,567 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 2,750 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 2,782 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 70 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 17,419 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 854,634 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,483,162 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 7,403 SH | Aug. 8, 2026 | Daily |