ENTA Enanta Pharmaceuticals, Inc. - Common Stock
$13.41
Price · Aug 19, 2026
Fundamentals as of Aug 12, 2026
52W Range
$7–$17
63% of range
Analyst Rating
BUY
12 analysts
Price Target
$21
+58% upside
P/E (TTM)
-3.5
ROE
-103.5%
Net Profit Margin
-125.4%
ENTA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.41
Market Cap
$287M
P/E (TTM)
-3.5
EPS (TTM)
$-3.84
Revenue (TTM)
$65M
Div Yield
—
ROE
-103.5%
Debt/Equity
—
52W Range
$7 – $17
ENTA 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
$65M
2016-09-30
→
2025-09-30
EPS
$-3.84
2016-09-30
→
2025-09-30
Free Cash Flow
$-32M
2017-09-30
→
2025-09-30
Margins
-125.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ENTA
Peer Median
P/E (TTM)
-3.5
—
P/S (TTM)
4.4
10.1
P/B
4.4
4.8
Price / FCF
-8.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ENTA
Peer Median
Operating Margin
-130.7%
—
Net Profit Margin
-125.4%
-175.8%
ROA
-24.9%
-28.5%
ROE
-103.5%
-51.4%
ROIC
-129.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ENTA
Peer Median
Current Ratio
4.2
5.4
Quick Ratio
0.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ENTA
Peer Median
Revenue YoY
-3.4%
—
Revenue CAGR 3Y
-8.8%
—
Revenue CAGR 5Y
-11.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ENTA
Peer Median
ENTA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- 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
6 analysts · 2026-08-16
Median
$20.00
Mean
$21.17
← Below all targets
$13.41
Low
$19.00
High
$28.00
Median target
$20.00
+49.1%
Mean target
$21.17
+57.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.17%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.67 | $-0.52 | -0.15% |
| March 31, 2026 | $-0.45 | $-0.50 | 0.05% |
| Dec. 31, 2025 | $-0.42 | $-0.82 | 0.40% |
| Sept. 30, 2025 | $-0.87 | $-1.04 | 0.17% |
| June 30, 2025 | $-0.85 | $-1.30 | 0.45% |
| March 31, 2025 | $-1.06 | $-1.16 | 0.10% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ENTA | $256M | -3.1 | -3.4% | -125.4% | -103.5% | — |
| CAPR | $1.66B | -12.8 | -11.6% | — | -51.1% | — |
| FENC | $263M | -22.6 | -6.1% | -21.8% | -69.6% | — |
| FHTX | $306M | -4.6 | 36.8% | -240.3% | 80.2% | — |
| LYEL | $654M | -1.9 | -41.0% | -762355.6% | -100.3% | — |
| RCKT | — | — | — | — | — | — |
| UPB | $1.47B | -10.2 | 20.4% | -5026.0% | -38.3% | — |
| AGEN | $111M | — | 10.4% | -2.7% | 1.0% | — |
| IPSC | $87M | -7.1 | 1556.8% | -8.8% | -5.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $65M | $68M | $79M | $86M | $97M | $122M | $205M | $207M | $103M | $88M | $161M | $48M | |
| R&D Expense | $107M | $131M | $164M | $165M | $174M | $137M | $142M | $95M | $57M | $40M | $23M | $19M | |
| SG&A Expense | $44M | $58M | $53M | $45M | $33M | $27M | $26M | $23M | $21M | $17M | $14M | $10M | |
| Operating Expenses | $151M | $189M | $216M | $210M | $207M | $164M | $168M | $118M | $78M | $57M | $37M | $29M | |
| Operating Income | $-85M | $-122M | $-137M | $-124M | $-110M | $-42M | $37M | $88M | $25M | $31M | $124M | $19M | |
| Interest Expense | · | · | $5M | $0 | $0 | · | · | · | $40.0K | $45.0K | $8.0K | $18.0K | |
| Interest Income | · | · | · | · | · | · | · | · | $3M | $2M | $968.0K | $467.0K | |
| Other Non-op | $2M | $4M | $6M | $2M | $2M | $7M | $9M | $5M | $2M | $2M | · | · | |
| Pretax Income | $-84M | $-118M | $-131M | $-122M | $-108M | $-35M | $46M | $93M | $27M | $33M | $125M | $19M | |
| Income Tax | $-2M | $-2M | $3M | $-433.0K | $-29M | $1M | $-826.0K | $21M | $9M | $11M | $46M | $-15M | |
| Net Income | $-82M | $-116M | $-134M | $-122M | $-79M | $-36M | $46M | $72M | $18M | $22M | $79M | $34M | |
| EPS (Basic) | $-3.84 | $-5.48 | $-6.38 | $-5.91 | $-3.92 | $-1.81 | $2.37 | $3.74 | $0.93 | $1.14 | $4.23 | $1.88 | |
| EPS (Diluted) | $-3.84 | $-5.48 | $-6.38 | $-5.91 | $-3.92 | $-1.81 | $2.21 | $3.48 | $0.91 | $1.13 | $4.09 | $1.80 | |
| Shares (Basic) | 21,336 | 21,157 | 20,969 | 20,603 | 20,171 | 19,940 | 19,584,000 | 19,255,000 | 19,066,000 | 18,929,000 | 18,673,000 | 18,355 | |
| Shares (Diluted) | 21,336 | 21,157 | 20,969 | 20,603 | 20,171 | 19,940 | 20,968,000 | 20,650,000 | 19,407,000 | 19,224,000 | 19,295,000 | 19,185 | |
| EBITDA | $-85M | $-122M | $-137M | $-124M | $-110M | $-42M | $37M | $88M | $25M | · | $124M | $19M |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $32M | $37M | $85M | $44M | $57M | $87M | $51M | $64M | $66M | $17M | $22M | $31M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $158M | $194M | $123M | $60M | |
| Receivables | $7M | $7M | $9M | $20M | $24M | $23M | $51M | $67M | $11M | $13M | $15M | $2M | |
| Prepaid Expense | $9M | $12M | $13M | $13M | $14M | $14M | $15M | $4M | $4M | $9M | $8M | $2M | |
| Current Assets | $204M | $300M | $423M | $312M | $319M | $437M | $402M | $380M | $238M | $232M | $171M | $108M | |
| PP&E (Net) | $35M | $33M | $12M | $6M | $6M | $9M | $11M | $8M | $8M | $8M | $6M | $2M | |
| PP&E (Gross) | $59M | $58M | $36M | $28M | $25M | $24M | $23M | $17M | $15M | $13M | $10M | $6M | |
| Accum. Depreciation | $24M | $25M | $24M | $22M | $19M | $16M | $12M | $9M | $7M | $5M | $4M | $4M | |
| Other Non-current Assets | $92.0K | $94.0K | $803.0K | $696.0K | $92.0K | $92.0K | $92.0K | $92.0K | · | · | · | · | |
| Total Assets | $281M | $377M | $462M | $375M | $439M | $486M | $490M | $414M | $327M | $281M | $246M | $155M | |
| Accounts Payable | $2M | $8M | $4M | $6M | $10M | $6M | $7M | $5M | $4M | $3M | $2M | $2M | |
| Accrued Liabilities | $13M | $14M | $18M | $21M | $22M | $14M | $16M | $10M | $8M | $5M | $4M | $3M | |
| Current Liabilities | $49M | $58M | $63M | $30M | $36M | $24M | $23M | $16M | $21M | $8M | $7M | $5M | |
| Capital Leases | $55M | $54M | $21M | $22M | $1M | $4M | $200.0K | $293.0K | $379.0K | $458.0K | $529.0K | · | |
| Other Non-current Liabilities | $260.0K | $231.0K | $663.0K | $454.0K | $558.0K | $1M | $3M | $3M | $2M | $2M | $2M | $229.0K | |
| Total Liabilities | $216M | $248M | $246M | $54M | $39M | $31M | $27M | $21M | $25M | $11M | $10M | $7M | |
| Common Stock | $214.0K | $212.0K | $211.0K | $208.0K | $202.0K | $201.0K | $197.0K | $194.0K | $191.0K | $190.0K | $187.0K | $188.0K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | $222M | |
| Retained Earnings | $-405M | $-323M | $-207M | $-73M | $49M | $128M | $164M | $117M | $45M | $28M | $6M | $-73M | |
| Treasury Stock | · | · | · | · | · | · | · | · | · | · | · | $2.0K | |
| AOCI | $-339.0K | $302.0K | $-1M | $-4M | $-382.0K | $844.0K | $146.0K | $-398.0K | $-112.0K | $19.0K | $33.0K | $-100.0K | |
| Stockholders' Equity | $65M | $129M | $217M | $321M | $399M | $456M | $462M | $394M | $302M | $270M | $236M | $149M | |
| Liabilities + Equity | $281M | $377M | $462M | $375M | $439M | $486M | $490M | $414M | $327M | $281M | $246M | $155M | |
| Shares Outstanding | 21,387,000 | 21,387,000 | 21,059,000 | 20,791,000 | 20,238,000 | 20,077,000 | 19,703,000 | 19,395,000 | 19,120,000 | 19,036,000 | 18,716,834 | 18,594,574 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $5M | $2M | $2M | $3M | $3M | $4M | $3M | $3M | $2M | $2M | $639.0K | $352.0K | |
| Stock-based Comp | $19M | $27M | $28M | $27M | $21M | $20M | $19M | $16M | $13M | $9M | $6M | $3M | |
| Deferred Tax | · | · | · | · | · | $-18M | · | · | · | · | · | $-15M | |
| Operating Cash Flow | $-19M | $-79M | $-103M | $-85M | $-70M | $7M | $71M | $29M | $53M | $36M | $77M | $20M | |
| CapEx | $13M | $18M | $9M | $2M | $750.0K | $1M | $5M | $3M | $3M | $5M | $2M | $1M | |
| Investing Cash Flow | $40M | $58M | $-54M | $55M | $37M | $20M | $-87M | $-35M | $-5M | $-44M | · | · | |
| Financing Cash Flow | $-27M | $-28M | $198M | $20M | $3M | $9M | $3M | $4M | $1M | $3M | · | · | |
| Net Change in Cash | $-6M | $-48M | $41M | $-10M | $-30M | $36M | $-13M | $-2M | $49M | $-5M | $-9M | $22M | |
| Taxes Paid | · | · | · | · | · | · | · | · | · | $13M | $40M | $148.0K | |
| Free Cash Flow | $-32M | $-97M | $-112M | $-87M | $-71M | $6M | $66M | $26M | $50M | · | $74M | $19M | |
| Levered FCF | · | · | $-117M | · | · | · | · | · | $50M | · | $74M | $19M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -130.7% | -179.9% | -173.2% | -143.7% | -112.9% | -34.0% | 17.9% | 42.8% | 23.9% | · | 77.2% | 39.8% | |
| Net Margin | -125.4% | -171.6% | -168.9% | -141.3% | -81.4% | -29.5% | 22.6% | 34.8% | 17.2% | · | 49.1% | 72.1% | |
| Pretax Margin | -127.9% | -174.2% | -165.4% | -141.8% | -110.8% | -28.6% | 22.2% | 45.1% | 26.2% | · | 78.0% | 40.4% | |
| EBITDA Margin | -130.7% | -179.9% | -173.2% | -143.7% | -112.9% | -34.0% | 17.9% | 42.8% | 23.9% | · | 77.2% | 39.8% | |
| ROA | -24.9% | -27.7% | -31.9% | -29.9% | -17.1% | -7.4% | 10.3% | 19.4% | 5.8% | · | 39.4% | 25.3% | |
| ROE | -103.5% | -83.6% | -58.9% | -36.9% | -19.3% | -7.7% | 10.2% | 19.1% | 6.2% | · | 41.0% | 26.6% | |
| ROIC | -129.3% | -93.1% | -64.7% | -38.4% | -20.1% | -9.4% | 8.1% | 17.3% | 5.4% | · | 33.1% | 22.8% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.2 | 5.2 | 6.7 | 10.5 | 8.8 | 18.1 | 17.8 | 23.7 | 11.3 | · | 25.5 | 22.8 | |
| Quick Ratio | 0.8 | 0.8 | 1.5 | 2.2 | 2.2 | 4.6 | 4.5 | 8.2 | 11.2 | · | 23.9 | 19.5 | |
| Interest Coverage | · | · | -26.7 | · | · | · | · | · | 615.4 | · | 15518.5 | 1054.7 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.5 | 0.6 | 0.3 | · | 0.8 | 0.4 | |
| Receivables Turnover | 9.7 | 8.9 | 5.5 | 3.9 | 4.1 | 3.3 | 3.5 | 5.3 | 8.8 | · | 18.9 | 37.7 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -3.4% | -14.6% | -8.1% | -11.2% | -20.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -8.8% | -11.3% | -13.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -11.8% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $65M | $68M | $79M | $86M | $97M | $122M | $205M | $207M | $103M | $88M | $161M | $48M | |
| Net Income TTM | $-82M | $-116M | $-134M | $-122M | $-79M | $-36M | $46M | $72M | $18M | $22M | $79M | $34M | |
| Market Cap | $256M | $220M | $235M | $1.08B | $1.15B | $919M | $1.18B | $1.66B | $895M | · | $676M | $736M | |
| P/E | -3.1 | -1.9 | -1.8 | -8.8 | -14.5 | -25.3 | 27.2 | 24.6 | 51.4 | 23.5 | 8.8 | 22.0 | |
| P/S | 3.9 | 3.2 | 3.0 | 12.5 | 11.8 | 7.5 | 5.8 | 8.0 | 8.7 | · | 4.2 | 15.4 | |
| P/B | 4.0 | 1.7 | 1.1 | 3.4 | 2.9 | 2.0 | 2.6 | 4.2 | 3.0 | · | 2.9 | 4.9 | |
| P / Tangible Book | 4.0 | 1.7 | 1.1 | 3.4 | 2.9 | 2.0 | · | · | · | · | · | · | |
| P / Cash Flow | -13.3 | -2.8 | -2.3 | -12.7 | -16.4 | 129.7 | 16.6 | 56.7 | 17.0 | · | 8.8 | 36.5 | |
| P / FCF | -8.0 | -2.3 | -2.1 | -12.4 | -16.3 | 162.9 | 17.9 | 63.2 | 17.8 | · | 9.1 | 38.4 | |
| Earnings Yield | -32.1% | -52.9% | -57.1% | -11.4% | -6.9% | -4.0% | 3.7% | 4.1% | 1.9% | 4.2% | 11.3% | 4.5% |
Income Statement 15
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14M | $17M | $19M | $15M | $18M | $15M | $17M | $15M | $18M | $17M | $18M | $19M | $19M | $18M | $24M | $20M | |
| R&D Expense | $22M | $19M | $21M | $24M | $27M | $28M | $28M | $31M | $29M | $36M | $36M | $36M | $43M | $43M | $41M | $35M | |
| SG&A Expense | $9M | $10M | $9M | $10M | $10M | $11M | $13M | $14M | $13M | $14M | $17M | $14M | $13M | $14M | $13M | $13M | |
| Operating Expenses | $32M | $29M | $30M | $34M | $37M | $39M | $41M | $44M | $42M | $50M | $53M | $50M | $56M | $57M | $54M | $47M | |
| Operating Income | $-17M | $-12M | $-11M | $-18M | $-19M | $-25M | $-24M | $-30M | $-24M | $-33M | $-35M | $-31M | $-37M | $-39M | $-30M | $-27M | |
| Interest Expense | · | · | · | · | · | · | · | · | $2M | $3M | $3M | · | $2M | $0 | $0 | · | |
| Other Non-op | $-2M | $-1M | $-661.0K | $-282.0K | $667.0K | $578.0K | $837.0K | $668.0K | $1M | $1M | $857.0K | $2M | $2M | $2M | $993.0K | $750.0K | |
| Pretax Income | $-19M | $-13M | $-12M | $-19M | $-18M | $-24M | $-23M | $-29M | $-23M | $-32M | $-34M | $-30M | $-35M | $-38M | $-29M | $-26M | |
| Income Tax | $36.0K | $7.0K | $24.0K | $32.0K | $29.0K | $-1M | $-416.0K | $-363.0K | $-395.0K | $-363.0K | $-622.0K | $-1M | $4M | $44.0K | $-34.0K | $50.0K | |
| Net Income | $-20M | $-13M | $-12M | $-19M | $-18M | $-23M | $-22M | $-29M | $-23M | $-31M | $-33M | $-28M | $-39M | $-38M | $-29M | $-26M | |
| EPS (Basic) | $-0.67 | $-0.45 | $-0.42 | $-0.88 | $-0.85 | $-1.06 | $-1.05 | $-1.36 | $-1.07 | $-1.47 | $-1.58 | $-1.34 | $-1.86 | $-1.79 | $-1.39 | $-1.27 | |
| EPS (Diluted) | $-0.67 | $-0.45 | $-0.42 | $-0.88 | $-0.85 | $-1.06 | $-1.05 | $-1.36 | $-1.07 | $-1.47 | $-1.58 | $-1.34 | $-1.86 | $-1.79 | $-1.39 | $-1.27 | |
| Shares (Basic) | 29,090,000 | 29,040,000 | 28,748,000 | -63,948,664 | 21,377,000 | 21,355,000 | 21,238,000 | -63,413,843 | 21,180,000 | 21,167,000 | 21,088,000 | -62,884,031 | 21,054,000 | 21,035,000 | 20,816,000 | -61,628,397 | |
| Shares (Diluted) | 29,090,000 | 29,040,000 | 28,748,000 | -63,948,664 | 21,377,000 | 21,355,000 | 21,238,000 | -63,413,843 | 21,180,000 | 21,167,000 | 21,088,000 | -62,884,031 | 21,054,000 | 21,035,000 | 20,816,000 | -61,628,397 | |
| EBITDA | $-17M | $-12M | $-11M | · | $-19M | $-25M | $-24M | · | $-24M | $-33M | $-35M | · | $-37M | $-39M | $-30M | · |
Balance Sheet 21
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $33M | $35M | $37M | $32M | $45M | $60M | $84M | $37M | $36M | $64M | $40M | · | $95M | $73M | $42M | · | |
| Receivables | $7M | $8M | $8M | $7M | $8M | $7M | $8M | $7M | $8M | $8M | $8M | · | $19M | $18M | $23M | · | |
| Prepaid Expense | $8M | $7M | $4M | $9M | $10M | $9M | $11M | $12M | $15M | $11M | $13M | · | $17M | $14M | $18M | · | |
| Current Assets | $204M | $178M | $199M | $204M | $223M | $243M | $268M | $300M | $287M | $351M | $390M | · | $448M | $271M | $284M | · | |
| PP&E (Net) | $32M | $33M | $34M | $35M | $37M | $38M | $37M | $33M | $25M | $15M | $12M | · | $12M | $11M | $9M | · | |
| PP&E (Gross) | · | · | · | $59M | $59M | $59M | $57M | $58M | $50M | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | · | $24M | $23M | $21M | $20M | $25M | $25M | · | · | · | · | · | · | · | |
| Other Non-current Assets | $110.0K | $144.0K | $93.0K | $92.0K | $94.0K | $98.0K | $94.0K | $94.0K | $105.0K | $187.0K | $765.0K | · | $830.0K | $696.0K | $701.0K | · | |
| Total Assets | $297M | $315M | $330M | $281M | $301M | $323M | $349M | $377M | $399M | $414M | $428M | · | $495M | $326M | $348M | · | |
| Accounts Payable | $3M | $4M | $2M | $2M | $4M | $5M | $5M | $8M | $11M | $7M | $9M | · | $8M | $12M | $4M | · | |
| Accrued Liabilities | $10M | $7M | $8M | $13M | $11M | $8M | $11M | $14M | $13M | $11M | $12M | · | $18M | $15M | $15M | · | |
| Current Liabilities | $54M | $46M | $45M | $49M | $45M | $46M | $49M | $58M | $58M | $55M | $62M | · | $68M | $32M | $23M | · | |
| Capital Leases | $52M | $53M | $54M | $55M | $56M | $57M | $56M | $54M | $48M | $43M | $21M | · | $22M | $23M | $22M | · | |
| Other Non-current Liabilities | $286.0K | $278.0K | $269.0K | $260.0K | $252.0K | $243.0K | $235.0K | $231.0K | $227.0K | $224.0K | $649.0K | · | $426.0K | $408.0K | $414.0K | · | |
| Total Liabilities | $196M | $198M | $203M | $216M | $222M | $229M | $237M | $248M | $250M | $247M | $237M | · | $257M | $57M | $47M | · | |
| Common Stock | $291.0K | $291.0K | $290.0K | $214.0K | $214.0K | $214.0K | $213.0K | $212.0K | $212.0K | $212.0K | $212.0K | · | $210.0K | $210.0K | $209.0K | · | |
| Retained Earnings | $-449M | $-430M | $-417M | $-405M | $-386M | $-368M | $-345M | $-323M | $-294M | $-272M | $-240M | · | $-179M | $-140M | $-102M | · | |
| AOCI | $-927.0K | $-734.0K | $-329.0K | $-339.0K | $-402.0K | $-224.0K | $-29.0K | $302.0K | $-653.0K | $-667.0K | $-534.0K | · | $-2M | $-2M | $-3M | · | |
| Stockholders' Equity | $101M | $117M | $127M | $65M | $79M | $94M | $112M | $129M | $149M | $166M | $192M | $217M | $238M | $269M | $301M | $321M | |
| Liabilities + Equity | $297M | $315M | $330M | $281M | $301M | $323M | $349M | $377M | $399M | $414M | $428M | · | $495M | $326M | $348M | · | |
| Shares Outstanding | 29,120,000 | 29,061,000 | 29,019,000 | 21,387,000 | 21,378,000 | 21,377,000 | 21,333,000 | 21,194,000 | 21,182,000 | 21,179,000 | 21,156,000 | · | 21,056,000 | 21,049,000 | 20,884,000 | · |
Cash Flow 9
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1M | $1M | $1M | $1M | $1M | $1M | $889.0K | $479.0K | $594.0K | $621.0K | $642.0K | $669.0K | $651.0K | $540.0K | $511.0K | $655.0K | |
| Stock-based Comp | $4M | $4M | $4M | $4M | $4M | $5M | $6M | $8M | $5M | $6M | $8M | $7M | $7M | $7M | $7M | $7M | |
| Operating Cash Flow | $-10M | $-7M | $-12M | $-6M | $18M | $-13M | $-17M | $-10M | $-15M | $-29M | $-25M | $-22M | $-32M | $-14M | $-36M | $-16M | |
| CapEx | $7.0K | $15.0K | $143.0K | $1M | $155.0K | $3M | $9M | $9M | $7M | $2M | $787.0K | $1M | $2M | $2M | $3M | $1M | |
| Investing Cash Flow | $14M | $12M | $-47M | $2M | $-26M | $-4M | $69M | $19M | $-6M | $59M | $-13M | $12M | $-146M | $47M | $34M | $28M | |
| Financing Cash Flow | $-6M | $-7M | $64M | $-8M | $-6M | $-7M | $-5M | $-7M | $-7M | $-6M | $-7M | $-23.0K | $200M | $-2M | $301.0K | $3M | |
| Net Change in Cash | $-2M | $-3M | $5M | $-13M | $-15M | $-25M | $47M | $1M | $-28M | $24M | $-45M | $-10M | $22M | $31M | $-2M | $16M | |
| Free Cash Flow | · | · | $-12M | · | · | · | $-26M | · | · | · | $-26M | · | · | · | $-39M | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | $-29M | · | · | · | · | · |
Profitability 7
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -120.0% | -69.1% | -60.5% | · | -103.2% | -164.3% | -138.8% | · | -134.6% | -192.1% | -193.8% | · | -194.3% | -221.7% | -127.2% | · | |
| Net Margin | -135.8% | -76.3% | -64.1% | · | -99.7% | -151.7% | -131.4% | · | -126.1% | -182.7% | -185.6% | · | -206.8% | -211.6% | -122.9% | · | |
| Pretax Margin | -135.6% | -76.2% | -64.0% | · | -99.5% | -160.5% | -133.9% | · | -128.3% | -184.8% | -189.0% | · | -184.4% | -211.4% | -123.0% | · | |
| EBITDA Margin | -120.0% | -69.1% | -60.5% | · | -103.2% | -164.3% | -138.8% | · | -134.6% | -192.1% | -193.8% | · | -194.3% | -221.7% | -127.2% | · | |
| ROA | -6.5% | -4.1% | -3.5% | · | -5.2% | -6.2% | -5.7% | · | -5.1% | -8.4% | -8.6% | · | -8.9% | -10.3% | -7.4% | · | |
| ROE | -21.6% | -12.5% | -10.0% | · | -16.0% | -17.4% | -14.7% | · | -11.7% | -14.3% | -13.6% | · | -13.6% | -12.0% | -8.5% | · | |
| ROIC | -17.1% | -10.2% | -8.9% | · | -23.9% | -24.8% | -20.7% | · | -16.0% | -19.5% | -17.8% | · | -17.3% | -14.7% | -10.0% | · |
Liquidity & Solvency 3
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.8 | 3.8 | 4.4 | · | 5.0 | 5.3 | 5.5 | · | 4.9 | 6.4 | 6.3 | · | 6.6 | 8.4 | 12.3 | · | |
| Quick Ratio | 0.7 | 0.9 | 1.0 | · | 1.2 | 1.5 | 1.9 | · | 0.8 | 1.3 | 0.8 | · | 1.7 | 2.8 | 2.8 | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | -10.3 | -12.8 | -10.1 | · | -18.4 | · | · | · |
Efficiency 2
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | 0.1 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.1 | · | |
| Receivables Turnover | 1.9 | 2.4 | 2.3 | · | 2.2 | 2.1 | 2.1 | · | 1.3 | 1.3 | 1.2 | · | 1.0 | 1.0 | 0.9 | · |
Valuation (TTM) 10
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $68M | $69M | $69M | · | $68M | $67M | $70M | · | $72M | $72M | $78M | · | $80M | $80M | $89M | · | |
| Net Income TTM | $-63M | $-66M | $-75M | · | $-86M | $-99M | $-110M | · | $-126M | $-141M | $-139M | · | $-137M | $-132M | $-124M | · | |
| Market Cap | $425M | $367M | $458M | · | $162M | $118M | $123M | · | $275M | $370M | $199M | · | $451M | $851M | $972M | · | |
| P/E | -6.1 | -4.5 | -4.7 | · | -1.9 | -1.2 | -1.1 | · | -2.2 | -2.6 | -1.4 | · | -3.3 | -6.4 | -7.7 | · | |
| P/S | 6.2 | 5.3 | 6.7 | · | 2.4 | 1.8 | 1.8 | · | 3.8 | 5.2 | 2.5 | · | 5.7 | 10.7 | 10.9 | · | |
| P/B | 4.2 | 3.1 | 3.6 | · | 2.0 | 1.3 | 1.1 | · | 1.8 | 2.2 | 1.0 | · | 1.9 | 3.2 | 3.2 | · | |
| P / Tangible Book | 4.2 | 3.1 | 3.6 | · | 2.0 | 1.3 | 1.1 | · | 1.8 | 2.2 | 1.0 | · | 1.9 | 3.2 | 3.2 | · | |
| P / Cash Flow | · | · | -39.1 | · | · | · | -7.3 | · | · | · | -8.0 | · | · | · | -27.3 | · | |
| P / FCF | · | · | -38.6 | · | · | · | -4.8 | · | · | · | -7.7 | · | · | · | -25.0 | · | |
| Earnings Yield | -16.4% | -22.0% | -21.4% | · | -53.3% | -84.2% | -89.9% | · | -46.1% | -38.4% | -70.3% | · | -30.7% | -15.7% | -13.0% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Revenue | $65M | $68M | $79M | $86M | $97M |
| Operating Margin % | -130.7% | -179.9% | -173.2% | -143.7% | -112.9% |
| Net Income | $-82M | $-116M | $-134M | $-122M | $-79M |
| Diluted EPS | $-3.84 | $-5.48 | $-6.38 | $-5.91 | $-3.92 |
Balance Sheet
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Current Ratio | 4.2 | 5.2 | 6.7 | 10.5 | 8.8 |
| Quick Ratio | 0.8 | 0.8 | 1.5 | 2.2 | 2.2 |
Cash Flow
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-32M | $-97M | $-112M | $-87M | $-71M |
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Institutional owners (13F) 136 filers · $263.4M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 20 (-8 vs prior Q) | 19 (0 vs prior Q) | 40 (-2 vs prior Q) | 35 (+1 vs prior Q) | -475K |
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 |
|---|---|---|---|---|
| JANUS HENDERSON GROUP PLC | $47,716,934 | 3,784,055 | 18.12% | Shares |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | $35,257,385 | 2,418,202 | 13.39% | Shares |
| Deep Track Capital, LP | $21,055,955 | 1,444,167 | 7.99% | Shares |
| ADAR1 Capital Management, LLC | $19,602,956 | 1,344,510 | 7.44% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $17,667,592 | 1,211,769 | 6.71% | Shares |
| Spruce Street Capital LP | $15,873,698 | 1,088,731 | 6.03% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $14,747,583 | 1,011,494 | 5.60% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $9,831,392 | 674,134 | 3.73% | Shares |
| MILLENNIUM MANAGEMENT LLC | $9,389,039 | 643,967 | 3.56% | Shares |
| STATE STREET CORP | $8,399,786 | 576,117 | 3.19% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $8,129,808 | 557,600 | 3.09% | Shares |
| Hillsdale Investment Management Inc. | $6,823,440 | 468,000 | 2.59% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $4,390,782 | 301,151 | 1.67% | Shares |
| SummitTX Capital, L.P. | $3,757,295 | 257,702 | 1.43% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $3,728,033 | 255,695 | 1.42% | Shares |
| GOLDMAN SACHS GROUP INC | $2,984,599 | 204,705 | 1.13% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,706,310 | 185,618 | 1.03% | Shares |
| VANGUARD GROUP INC | $2,593,329 | 164,447 | 0.98% | Shares |
| TWO SIGMA ADVISERS, LP | $2,259,841 | 143,300 | 0.86% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $2,229,734 | 152,931 | 0.85% | Shares |
| Opaleye Management Inc. | $1,822,500 | 125,000 | 0.69% | Shares |
| Qube Research & Technologies Ltd | $1,181,053 | 81,005 | 0.45% | Shares |
| XTX Topco Ltd | $1,100,323 | 75,468 | 0.42% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,037,542 | 71,162 | 0.39% | Shares |
| Campbell & CO Investment Adviser LLC | $1,031,739 | 70,764 | 0.39% | Shares |
| Trexquant Investment LP | $1,014,958 | 69,613 | 0.39% | Shares |
| MACKENZIE FINANCIAL CORP | $982,211 | 67,367 | 0.37% | Shares |
| Quantinno Capital Management LP | $657,689 | 45,109 | 0.25% | Shares |
| MORGAN STANLEY | $654,525 | 44,892 | 0.25% | Shares |
| CITADEL ADVISORS LLC | $610,931 | 41,902 | 0.23% | Shares |
| Cubist Systematic Strategies, LLC | $598,297 | 49,983 | 0.23% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $596,439 | 40,908 | 0.23% | Shares |
| PRUDENTIAL FINANCIAL INC | $581,232 | 39,865 | 0.22% | Shares |
| IEQ CAPITAL, LLC | $561,447 | 38,508 | 0.21% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $507,224 | 34,789 | 0.19% | Shares |
| RHUMBLINE ADVISERS | $504,034 | 34,571 | 0.19% | Shares |
| D. E. Shaw & Co., Inc. | $503,579 | 34,539 | 0.19% | Shares |
| BANK OF MONTREAL /CAN/ | $493,795 | 33,868 | 0.19% | Shares |
| ALLIANCEBERNSTEIN L.P. | $478,677 | 37,900 | 0.18% | Shares |
| Bank of New York Mellon Corp | $437,429 | 30,002 | 0.17% | Shares |
| ALPS ADVISORS INC | $430,227 | 29,508 | 0.16% | Shares |
| FMR LLC | $426,071 | 29,223 | 0.16% | Shares |
| CITADEL ADVISORS LLC | $381,996 | 26,200 | 0.15% | Call option |
| WELLINGTON MANAGEMENT GROUP LLP | $378,657 | 25,971 | 0.14% | Shares |
| WELLS FARGO & COMPANY/MN | $361,497 | 24,794 | 0.14% | Shares |
| Portland Global Advisors LLC | $353,929 | 24,275 | 0.13% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $351,553 | 24,112 | 0.13% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $346,684 | 23,778 | 0.13% | Shares |
| BANK OF AMERICA CORP /DE/ | $313,995 | 21,536 | 0.12% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $297,432 | 20,400 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $295,974 | 20,300 | 0.11% | Put option |
| BlackRock, Inc. | $286,147 | 19,626 | 0.11% | Shares |
| CWM, LLC | $277,115 | 21,941 | 0.11% | Shares |
| BARCLAYS PLC | $261,652 | 17,946 | 0.10% | Shares |
| Headlands Technologies LLC | $257,862 | 17,686 | 0.10% | Shares |
| Susquehanna Portfolio Strategies, LLC | $251,403 | 17,243 | 0.10% | Shares |
| MetLife Investment Management, LLC | $226,602 | 15,542 | 0.09% | Shares |
| JPMORGAN CHASE & CO | $225,993 | 15,575 | 0.09% | Shares |
| AlphaQuest LLC | $223,587 | 14,178 | 0.08% | Shares |
| Balyasny Asset Management L.P. | $217,461 | 14,915 | 0.08% | Shares |
| Engineers Gate Manager LP | $190,706 | 13,080 | 0.07% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $190,517 | 13,067 | 0.07% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $185,166 | 12,700 | 0.07% | Call option |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $182,416 | 13,315 | 0.07% | Shares |
| CITIGROUP INC | $178,459 | 12,240 | 0.07% | Shares |
| Russell Investments Group, Ltd. | $174,799 | 11,989 | 0.07% | Shares |
| Invesco Ltd. | $162,815 | 11,167 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $153,804 | 10,549 | 0.06% | Shares |
| Police & Firemen's Retirement System of New Jersey | $144,954 | 9,942 | 0.06% | Shares |
| Arax Advisory Partners | $104,699 | 7,181 | 0.04% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $88,515 | 6,071 | 0.03% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $87,859 | 6,026 | 0.03% | Shares |
| Clearstead Trust, LLC | $73,834 | 5,064 | 0.03% | Shares |
| China Universal Asset Management Co., Ltd. | $67,476 | 4,628 | 0.03% | Shares |
| NORTHERN TRUST CORP | $64,896 | 4,451 | 0.02% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $62,373 | 4,278 | 0.02% | Shares |
| STRS OHIO | $46,656 | 3,200 | 0.02% | Shares |
| Krensavage Asset Management, LLC | $41,788 | 2,866,138 | 0.02% | Shares |
| Legal & General Group Plc | $40,970 | 2,810 | 0.02% | Shares |
| MARSHALL WACE, LLP | $39,453 | 2,706 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $37,544 | 2,575 | 0.01% | Shares |
| Pinnacle Wealth Planning Services, Inc. | $36,873 | 2,529 | 0.01% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $27,017 | 1,853 | 0.01% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $26,988 | 1,851 | 0.01% | Shares |
| Nuveen, LLC | $23,649 | 1,622 | 0.01% | Shares |
| Tower Research Capital LLC (TRC) | $23,430 | 1,607 | 0.01% | Shares |
| Versant Capital Management, Inc | $20,762 | 1,424 | 0.01% | Shares |
| GAMMA Investing LLC | $19,756 | 1,355 | 0.01% | Shares |
| Mirae Asset Global Investments Co., Ltd. | $18,954 | 1,300 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $18,642 | 1,476 | 0.01% | Shares |
| ACADIAN ASSET MANAGEMENT LLC | $15,706 | 1,078,317 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $12,000 | 850 | 0.00% | Shares |
| True Wealth Design, LLC | $9,405 | 645 | 0.00% | Shares |
| GF FUND MANAGEMENT CO. LTD. | $8,996 | 617 | 0.00% | Shares |
| Point72 (DIFC) Ltd | $8,846 | 739 | 0.00% | Shares |
| State of Wyoming | $7,727 | 530 | 0.00% | Shares |
| Rockefeller Capital Management L.P. | $7,494 | 514 | 0.00% | Shares |
| FRANKLIN RESOURCES INC | $7,057 | 484 | 0.00% | Shares |
| Allworth Financial LP | $5,876 | 403 | 0.00% | Shares |
| IFP Advisors, Inc | $5,861 | 402 | 0.00% | Shares |
Company insiders 24 insiders · 9 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jay R. Luly, Ph.D. | President and CEO | Feb. 12, 2025 F | 864,654 | 0 | 0 | $0 |
| Brendan Luu | Chief Business Officer | Feb. 12, 2025 F | 40,221 | 0 | 0 | $0 |
| Tara Lynn Kieffer | Chief Product Strategy Officer | Feb. 12, 2025 F | 33,479 | 0 | 0 | $0 |
| Yat Sun Or | Chief Scientific Officer | Feb. 12, 2025 F | 374,535 | 0 | 0 | $0 |
| Paul J Mellett | Chief Fin. & Admin Officer | Feb. 12, 2025 F | 95,884 | 0 | 0 | $0 |
| Matthew Paul Kowalsky | Chief Legal Officer | Nov. 27, 2024 A | — | 0 | 0 | $0 |
| Nathaniel S. Gardiner | Chief Legal Officer | Feb. 26, 2024 M | 75,688 | 0 | 0 | $0 |
| Nathalie Adda | Sr. VP & Chief Medical Officer | April 4, 2022 M | 34,982 | 0 | 0 | $0 |
| Tim Ocain | Senior Vice President | Feb. 12, 2019 F | 17,547 | 0 | 0 | $0 |
| Yujiro S Hata | Director | March 13, 2025 A | — | 0 | 0 | $0 |
| Terry Vance | Director | March 13, 2025 A | 5,800 | 0 | 0 | $0 |
| Kristine Peterson | Director | March 13, 2025 A | — | 0 | 0 | $0 |
| Lesley Russell | Director | March 13, 2025 A | — | 0 | 0 | $0 |
| Mark G Foletta | Director | March 13, 2025 A | — | 0 | 0 | $0 |
| Bruce L A Carter | Director | March 13, 2025 A | 0 | 0 | 0 | $0 |
| George Golumbeski | Director | Feb. 26, 2020 A | 0 | 0 | 0 | $0 |
| Stephen Buckley Jr. | Director | Feb. 28, 2019 A | 2,000 | 0 | 0 | $0 |
| AFTING ERNST-GUENTER | Director | Feb. 11, 2016 A | 17,287 | 0 | 0 | $0 |
| Helmut Schuhsler | Director | Feb. 24, 2014 S | 1,572,670 | 0 | 0 | $0 |
| Marc E. Goldberg | Director | Dec. 6, 2013 S | 547,606 | 0 | 0 | $0 |
| Gregory L. Verdine | Director | March 26, 2013 P | 3,324 | 0 | 0 | $0 |
| David Poorvin | Director | March 20, 2013 A | — | 0 | 0 | $0 |
| SHIONOGI & CO LTD | 10% owner | March 26, 2013 C | 1,599,760 | 0 | 0 | $0 |
| Scott T. Rottinghaus | — | Aug. 8, 2026 F | 23,787 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| Jay R. Luly, Ph.D. ×4 filings | Feb. 14, 2025 | 7.70% | Amendment | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 32 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 |
|---|---|---|---|---|
| BIB · ProShares Trust | 0.02% | 1,072 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 12,002 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 1,284 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 128,383 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 1,004 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 1,017 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 34,139 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,314 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 25 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 2,200 NS | April 30, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 296 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 2,629 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 10,879 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 3,542 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 1,234 NS | April 30, 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 |
| VTWV · 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 |
| IWN · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IWO · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IBB · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | — | — | Aug. 5, 2026 | Daily |
| QQQS · Invesco Exchange-Traded Fund Trust … | — | — | July 20, 2026 | Daily |