FATE Fate Therapeutics, Inc. - Common Stock
$2.28
Price · Aug 24, 2026
Fundamentals as of Aug 13, 2026
52W Range
$1–$3
58% of range
Analyst Rating
HOLD
18 analysts
Price Target
$6
+153% upside
P/E (TTM)
-2.0
ROE
-58.2%
Net Profit Margin
-2051.1%
About Fate Therapeutics, Inc. - Common Stock Company overview from Wikipedia
FATE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.27
Market Cap
$262M
P/E (TTM)
-2.0
EPS (TTM)
$-1.15
Revenue (TTM)
$7M
Div Yield
—
ROE
-58.2%
Debt/Equity
—
52W Range
$1 – $3
FATE 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
$7M
2016-12-31
→
2025-12-31
EPS
$-1.15
2020-12-31
→
2025-12-31
Free Cash Flow
$-112M
2016-12-31
→
2025-12-31
Margins
-2051.1%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
FATE
Peer Median
P/E (TTM)
-2.0
—
P/S (TTM)
39.5
50.2
P/B
1.3
1.0
Price / FCF
-2.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
FATE
Peer Median
Operating Margin
-2222.4%
—
Net Profit Margin
-2051.1%
-800.4%
ROA
-35.9%
-40.4%
ROE
-58.2%
-43.7%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
FATE
Peer Median
Current Ratio
5.8
7.3
Quick Ratio
5.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
FATE
Peer Median
Revenue YoY
-51.2%
—
Revenue CAGR 3Y
-59.0%
—
Revenue CAGR 5Y
-26.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
FATE
Peer Median
FATE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
18 analysts
- Strong Buy 5 27.8%
- Buy 6 33.3%
- Hold 7 38.9%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-20
Median
$7.00
Mean
$5.74
Now
$2.27
Low
$2.20
High
$8.00
Median target
$7.00
+207.7%
Mean target
$5.74
+152.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.04%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.25 | $-0.27 | 0.02% |
| March 31, 2026 | $-0.26 | $-0.29 | 0.03% |
| Dec. 31, 2025 | $-0.27 | $-0.28 | 0.01% |
| Sept. 30, 2025 | $-0.27 | $-0.30 | 0.03% |
| June 30, 2025 | $-0.29 | $-0.35 | 0.06% |
| March 31, 2025 | $-0.32 | $-0.39 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| FATE | $113M | -0.9 | -51.2% | -2051.1% | -58.2% | — |
| RCEL | $105M | -2.0 | 11.5% | -67.8% | 328.9% | 82.1% |
| RNAC | $188M | -1.4 | -92.8% | -4658.6% | 202.4% | — |
| MYGN | $575M | -1.6 | -1.6% | -44.4% | -96.8% | 69.9% |
| VNDA | $521M | -2.4 | 8.7% | -102.0% | -54.2% | — |
| AVXL | $771M | -16.5 | -36.1% | -991.4% | -47.7% | — |
| IVVD | $697M | -8.2 | 110.5% | -98.2% | -36.9% | — |
| ANIK | $133M | -12.6 | -5.9% | -9.6% | -7.5% | 56.6% |
| TRDA | $394M | -3.0 | -87.9% | -565.5% | -41.9% | — |
| ALXO | $61M | -0.6 | — | — | -225.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7M | $14M | $64M | $96M | $56M | $31M | $11M | $5M | $4M | $4M | $2M | · | |
| R&D Expense | $108M | $135M | $173M | $320M | $216M | $126M | $88M | $56M | $34M | $26M | $20M | $16M | |
| SG&A Expense | $47M | $74M | $81M | $84M | $57M | $34M | $24M | $16M | $12M | $10M | $10M | $8M | |
| Operating Expenses | $154M | $224M | $254M | $405M | $273M | $160M | $111M | $72M | $46M | $36M | $30M | $25M | |
| Operating Income | $-148M | $-210M | $-191M | $-308M | $-217M | $-128M | $-101M | $-67M | $-42M | $-32M | $-28M | $-25M | |
| Interest Expense | · | · | · | · | $0 | $0 | $2M | $2M | $1M | $2M | $2M | $549.0K | |
| Interest Income | $11M | $17M | $17M | $6M | $1M | $2M | $4M | $2M | $559.0K | $138.0K | $10.0K | $2.0K | |
| Other Non-op | $11M | $24M | $30M | $27M | $5M | $-45M | $3M | $494.0K | $-827.0K | $-1M | $-2M | $-979.0K | |
| Income Tax | $2.0K | $0 | $0 | $0 | $0 | $0 | $0 | · | · | · | · | · | |
| Net Income | $-136M | $-186M | $-161M | $-282M | $-212M | $-173M | $-98M | $-67M | $-43M | $-33M | $-30M | $-26M | |
| EPS (Basic) | $-1.15 | $-1.64 | $-1.64 | $-2.91 | $-2.24 | $-2.10 | · | · | · | · | · | · | |
| EPS (Diluted) | $-1.15 | $-1.64 | $-1.64 | $-2.91 | $-2.24 | $-2.10 | · | · | · | · | · | · | |
| Shares (Basic) | 118,789,974 | 113,685,177 | 98,411,162 | 96,826,058 | 94,747,311 | 82,385,319 | · | · | · | · | · | · | |
| Shares (Diluted) | 118,789,974 | 113,685,177 | 98,411,162 | 96,826,058 | 94,747,311 | 82,385,319 | · | · | · | · | · | · | |
| EBITDA | $-135M | $-191M | $-172M | $-295M | $-211M | $-125M | $-99M | $-66M | $-41M | $-31M | $-27M | $-24M |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $47M | $36M | $42M | $61M | $134M | $167M | $100M | $191M | $89M | $89M | $65M | $49M | |
| Short-term Investments | $157M | $243M | $273M | $375M | $482M | · | · | · | · | $4M | · | · | |
| Receivables | $916.0K | $4M | $2M | $38M | $9M | $6M | · | $500.0K | · | · | · | · | |
| Prepaid Expense | $4M | $9M | $15M | $27M | $9M | $6M | $6M | $4M | $2M | $1M | $843.0K | $760.0K | |
| Current Assets | $209M | $292M | $332M | $502M | $633M | $494M | $227M | $205M | $103M | $93M | $66M | $50M | |
| PP&E (Net) | $57M | $64M | $97M | $110M | $92M | $32M | $11M | $5M | $3M | $2M | $2M | $1M | |
| PP&E (Gross) | $93M | $100M | $144M | $140M | $108M | $43M | $20M | $11M | $8M | $6M | $6M | $4M | |
| Accum. Depreciation | $36M | $35M | $48M | $30M | $17M | $11M | $9M | $6M | $5M | $4M | $3M | $3M | |
| Other Non-current Assets | $0 | $9.0K | $9.0K | $33.0K | $33.0K | $9.0K | $9.0K | $526.0K | $24.0K | $24.0K | $24.0K | $10.0K | |
| Total Assets | $319M | $441M | $506M | $706M | $921M | $622M | $302M | $213M | $105M | $95M | $68M | $51M | |
| Accounts Payable | $3M | $9M | $5M | $8M | $9M | $6M | $6M | $4M | $2M | $934.0K | $996.0K | $645.0K | |
| Accrued Liabilities | $20M | $21M | $28M | $54M | $42M | $16M | $15M | $11M | $7M | $4M | $2M | $2M | |
| Current Liabilities | $36M | $39M | $39M | $114M | $81M | $86M | $28M | $27M | $11M | $15M | $13M | $5M | |
| Capital Leases | $73M | $78M | $97M | $104M | $109M | $94M | $25M | · | · | · | · | · | |
| Long-term Debt | · | · | · | · | · | · | · | $18M | $19M | $13M | $22M | $20M | |
| Total Debt | · | · | · | · | · | · | · | $15M | $15M | $11M | $18M | $20M | |
| Common Stock | $115.0K | $114.0K | $99.0K | $97.0K | $96.0K | $88.0K | $76.0K | $65.0K | $53.0K | $41.0K | $29.0K | $21.0K | |
| Paid-in Capital | $1.74B | $1.72B | $1.58B | $1.54B | $1.45B | $941M | $628M | $446M | $296M | $249M | · | $141M | |
| Retained Earnings | $-1.53B | $-1.40B | $-1.21B | $-1.05B | $-769M | $-557M | $-384M | $-285M | $-219M | $-176M | $-142M | $-112M | |
| AOCI | $116.0K | $268.0K | $15.0K | $-2M | $-762.0K | $70.0K | $22.0K | $-2.0K | $-3.0K | $-1.0K | · | · | |
| Stockholders' Equity | $207M | $319M | $368M | $484M | $679M | $384M | $245M | $160M | $77M | $73M | $38M | $28M | |
| Liabilities + Equity | $319M | $441M | $506M | $706M | $921M | $622M | $302M | $213M | $105M | $95M | $68M | $51M | |
| Shares Outstanding | 115,359,735 | 113,928,279 | 98,627,076 | 97,294,917 | 95,726,962 | 87,722,237 | 75,730,260 | 64,693,681 | 52,648,601 | 41,386,506 | 28,716,570 | 20,569,399 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $13M | $19M | $18M | $14M | $6M | $3M | $2M | $1M | $971.0K | $881.0K | $687.0K | $496.0K | |
| Stock-based Comp | · | · | · | · | · | · | · | · | · | · | $2M | $2M | |
| Restructuring | $1M | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | $17M | $44M | $10M | $20M | $43M | $131M | $13M | $27M | $5M | $3M | $9M | $534.0K | |
| Operating Cash Flow | $-106M | $-123M | $-132M | $-248M | $-163M | $-39M | $-83M | $-39M | $-37M | $-30M | $-18M | $-22M | |
| CapEx | $6M | $730.0K | $6M | $36M | $51M | $5M | $7M | $2M | $2M | $457.0K | $1M | $882.0K | |
| Investing Cash Flow | $111M | $12M | $113M | $167M | $-324M | $-161M | $-157M | $-463.0K | $-10M | $-4M | · | · | |
| Debt Issued | · | · | · | · | · | · | · | · | $15M | · | · | $20M | |
| Net Debt Issued | · | · | · | · | · | · | $-15M | · | $4M | $-8M | $-2M | $18M | |
| Stock Issued | · | · | · | · | $412M | $189M | $162M | $135M | $43M | · | $5M | $142.0K | |
| Net Stock Activity | · | · | · | · | $412M | $189M | $162M | · | · | · | $5M | $142.0K | |
| Financing Cash Flow | $5M | $100M | $85.0K | $9M | $453M | $283M | $150M | $141M | $47M | $58M | · | · | |
| Net Change in Cash | $11M | $-11M | $-20M | $-72M | $-34M | $83M | $-91M | $102M | $343.0K | $24M | $16M | $-5M | |
| Taxes Paid | $1.6K | $1.7K | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $-112M | $-124M | $-138M | $-284M | $-214M | $-44M | $-91M | $-41M | $-39M | $-30M | $-20M | $-23M |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -2222.4% | -1542.6% | -299.9% | -320.2% | -388.6% | -407.5% | -943.1% | -1415.4% | · | · | -1142.8% | · | |
| Net Margin | -2051.1% | -1366.5% | -253.3% | -292.6% | -379.9% | -551.6% | -919.0% | -1405.0% | · | · | -1233.7% | · | |
| EBITDA Margin | -2028.3% | -1403.5% | -271.1% | -305.9% | -378.1% | -397.7% | -922.6% | -1390.0% | · | · | -1114.6% | · | |
| ROA | -35.9% | -39.3% | -26.6% | -34.6% | -27.5% | -37.5% | -38.1% | -41.8% | -42.9% | -41.1% | -50.3% | -48.5% | |
| ROE | -58.2% | -54.7% | -41.7% | -56.2% | -30.1% | -42.9% | -38.3% | -39.8% | -69.9% | -60.2% | -90.4% | -65.4% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.8 | 7.6 | 8.5 | 4.4 | 7.8 | 5.8 | 8.2 | 7.5 | 9.3 | 6.1 | 4.9 | 10.9 | |
| Quick Ratio | 5.7 | 7.3 | 8.1 | 4.2 | 1.8 | 2.0 | 3.6 | 7.0 | 8.1 | 6.1 | 4.8 | 10.7 | |
| Debt / Equity | · | · | · | · | · | · | · | 0.1 | 0.2 | 0.1 | 0.5 | 0.7 | |
| LT Debt / Equity | · | · | · | · | · | · | · | 0.1 | 0.2 | 0.0 | 0.3 | 0.6 | |
| Interest Coverage | · | · | · | · | · | · | -57.5 | -39.6 | -33.2 | -19.5 | -12.5 | -45.4 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | · | · | 0.0 | · | |
| Receivables Turnover | 3.0 | 5.1 | 3.2 | 4.1 | 7.9 | 10.5 | · | 19.0 | · | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -51.2% | -78.5% | -34.0% | 72.4% | 77.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -59.0% | -37.5% | 26.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -26.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7M | $14M | $64M | $96M | $56M | $31M | $11M | $5M | $4M | $4M | $2M | $2M | |
| Net Income TTM | $-136M | $-186M | $-161M | $-282M | $-212M | $-173M | $-98M | $-67M | $-43M | $-33M | $-30M | $-26M | |
| Market Cap | $113M | $188M | $369M | $982M | $5.60B | $7.98B | $1.48B | $830M | $322M | $104M | $97M | $103M | |
| Enterprise Value | · | · | · | · | · | · | · | $654M | $248M | $22M | $50M | $74M | |
| P/E | -0.9 | -1.0 | -2.3 | -3.5 | -26.1 | -43.3 | · | · | · | · | · | · | |
| P/S | 17.0 | 13.8 | 5.8 | 10.2 | 100.3 | 253.8 | 138.8 | 175.1 | 78.3 | 23.6 | 39.8 | 64.1 | |
| P/B | 0.5 | 0.6 | 1.0 | 2.0 | 8.3 | 20.7 | 6.1 | 5.2 | 4.2 | 1.4 | 2.5 | 3.7 | |
| P / Tangible Book | 0.5 | 0.6 | 1.0 | 2.0 | 8.3 | 20.7 | · | · | · | · | · | · | |
| P / Cash Flow | -1.1 | -1.5 | -2.8 | -4.0 | -34.4 | -203.3 | -17.8 | -21.5 | -8.7 | -3.5 | -5.3 | -4.6 | |
| P / FCF | -1.0 | -1.5 | -2.7 | -3.5 | -26.2 | -180.6 | -16.4 | -20.3 | -8.3 | -3.4 | -4.9 | -4.4 | |
| EV / EBITDA | · | · | · | · | · | · | · | -9.9 | -6.0 | -0.7 | -1.9 | -3.0 | |
| EV / FCF | · | · | · | · | · | · | · | -16.0 | -6.4 | -0.7 | -2.5 | -3.2 | |
| EV / Revenue | · | · | · | · | · | · | · | 138.1 | 60.3 | 5.1 | 20.7 | 45.8 | |
| Earnings Yield | -117.3% | -99.4% | -43.9% | -28.8% | -3.8% | -2.3% | · | · | · | · | · | · |
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 | $2M | $1M | $1M | $2M | $2M | $2M | $2M | $3M | $7M | $2M | $2M | $2M | $933.0K | $59M | $44M | $15M | |
| R&D Expense | $24M | $25M | $25M | $26M | $27M | $29M | $34M | $35M | $35M | $32M | $32M | $34M | $41M | $66M | $87M | $80M | |
| SG&A Expense | $9M | $10M | $11M | $11M | $11M | $14M | $15M | $21M | $17M | $21M | $18M | $19M | $23M | $22M | $22M | $22M | |
| Operating Expenses | $33M | $34M | $36M | $36M | $39M | $43M | $64M | $55M | $52M | $53M | $50M | $53M | $63M | $88M | $109M | $101M | |
| Operating Income | $-31M | $-33M | $-35M | $-35M | $-37M | $-41M | $-62M | $-52M | $-45M | $-51M | $-48M | $-51M | $-63M | $-29M | $-64M | $-86M | |
| Interest Income | $2M | $2M | $2M | $3M | $3M | $3M | $4M | $4M | $5M | $4M | $4M | $5M | $4M | $4M | $3M | $2M | |
| Other Non-op | $975.0K | $2M | $2M | $2M | $3M | $4M | $10M | $5M | $7M | $3M | $4M | $6M | $10M | $10M | $8M | $3M | |
| Net Income | $-30M | $-31M | $-32M | $-32M | $-34M | $-38M | $-52M | $-48M | $-38M | $-48M | $-44M | $-45M | $-53M | $-19M | $-56M | $-84M | |
| EPS (Basic) | $-0.25 | $-0.26 | $-0.27 | $-0.27 | $-0.29 | $-0.32 | $-0.44 | $-0.40 | $-0.33 | $-0.47 | $-0.45 | $-0.46 | $-0.54 | $-0.19 | $-0.58 | $-0.86 | |
| EPS (Diluted) | $-0.25 | $-0.26 | $-0.27 | $-0.27 | $-0.29 | $-0.32 | $-0.44 | $-0.40 | $-0.33 | $-0.47 | $-0.45 | $-0.46 | $-0.54 | $-0.19 | $-0.58 | $-0.86 | |
| Shares (Basic) | 120,397,390 | 120,030,638 | -237,112,305 | 118,998,693 | 118,528,046 | 118,375,540 | -222,656,453 | 117,769,161 | 117,468,124 | 101,104,345 | -196,611,892 | 98,568,012 | 98,400,355 | 98,054,687 | -193,245,390 | 97,023,506 | |
| Shares (Diluted) | 120,397,390 | 120,030,638 | -237,112,305 | 118,998,693 | 118,528,046 | 118,375,540 | -222,656,453 | 117,769,161 | 117,468,124 | 101,104,345 | -196,611,892 | 98,568,012 | 98,400,355 | 98,054,687 | -193,245,390 | 97,023,506 | |
| EBITDA | $-31M | $-30M | · | $-35M | $-37M | $-38M | · | $-52M | $-45M | $-46M | · | $-51M | $-63M | $-24M | · | $-86M |
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 | $32M | $40M | $47M | $41M | $41M | $45M | $36M | $38M | $37M | $121M | $42M | $33M | $47M | $42M | $61M | $82M | |
| Short-term Investments | $121M | $135M | $157M | $175M | $182M | $196M | $243M | $259M | $268M | · | $273M | · | · | · | $375M | · | |
| Receivables | $703.0K | $704.0K | $916.0K | $682.0K | $1M | $2M | $4M | $4M | $1M | $858.0K | $2M | $2M | $3M | $14M | $38M | $10M | |
| Prepaid Expense | $3M | $4M | $4M | $5M | $6M | $5M | $9M | $9M | $13M | $10M | $15M | $13M | $11M | $15M | $27M | $20M | |
| Current Assets | $158M | $180M | $209M | $221M | $230M | $248M | $292M | $310M | $319M | $394M | $332M | $364M | $392M | $438M | $502M | $535M | |
| PP&E (Net) | $52M | $54M | $57M | $59M | $61M | $63M | $64M | $82M | $88M | $92M | $97M | $102M | $106M | $109M | $110M | $109M | |
| PP&E (Gross) | · | · | $93M | · | · | · | $100M | · | · | · | $144M | · | · | · | $140M | · | |
| Accum. Depreciation | · | · | $36M | · | · | · | $35M | · | · | · | $48M | · | · | · | $30M | · | |
| Other Non-current Assets | · | · | $0 | $0 | $0 | $0 | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $33.0K | $33.0K | $33.0K | $33.0K | |
| Total Assets | $260M | $285M | $319M | $344M | $372M | $399M | $441M | $495M | $529M | $570M | $506M | $544M | $585M | $630M | $706M | $749M | |
| Accounts Payable | $3M | $3M | $3M | $4M | $4M | $4M | $9M | $6M | $5M | $7M | $5M | $6M | $8M | $10M | $8M | $10M | |
| Accrued Liabilities | $15M | $14M | $20M | $18M | $18M | $17M | $21M | $24M | $23M | $32M | $28M | $29M | $29M | $32M | $54M | $50M | |
| Current Liabilities | $33M | $31M | $36M | $28M | $29M | $28M | $39M | $37M | $35M | $45M | $39M | $41M | $45M | $49M | $114M | $104M | |
| Capital Leases | $71M | $72M | $73M | $74M | $76M | $77M | $78M | $92M | $94M | $96M | $97M | $99M | $101M | $102M | $104M | $105M | |
| Common Stock | $117.0K | $116.0K | $115.0K | $115.0K | $115.0K | $115.0K | $114.0K | $114.0K | $114.0K | $114.0K | $99.0K | $99.0K | $99.0K | $98.0K | $97.0K | $97.0K | |
| Paid-in Capital | $1.75B | $1.75B | $1.74B | $1.74B | $1.73B | $1.72B | $1.72B | $1.71B | $1.70B | $1.69B | $1.58B | $1.57B | $1.56B | $1.55B | $1.54B | $1.52B | |
| Retained Earnings | $-1.60B | $-1.57B | $-1.53B | $-1.50B | $-1.47B | $-1.44B | $-1.40B | $-1.35B | $-1.30B | $-1.26B | $-1.21B | $-1.17B | $-1.12B | $-1.07B | $-1.05B | $-994M | |
| AOCI | $-117.0K | $-77.0K | $116.0K | $153.0K | $62.0K | $191.0K | $268.0K | $835.0K | $-422.0K | $-194.0K | $15.0K | $-499.0K | $-587.0K | $-646.0K | $-2M | $-3M | |
| Stockholders' Equity | $153M | $180M | $207M | $234M | $261M | $288M | $319M | $362M | $397M | $426M | $368M | $403M | $438M | $477M | $484M | $518M | |
| Liabilities + Equity | $260M | $285M | $319M | $344M | $372M | $399M | $441M | $495M | $529M | $570M | $506M | $544M | $585M | $630M | $706M | $749M | |
| Shares Outstanding | 116,694,106 | 116,272,513 | 115,359,735 | 115,336,697 | 114,655,067 | 114,603,910 | 113,928,279 | 113,884,884 | 113,849,557 | 113,798,942 | 98,627,076 | 98,585,750 | 98,522,718 | 98,191,015 | 97,294,917 | 97,112,209 |
Cash Flow 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $3M | $3M | $3M | $3M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $5M | $3M | |
| Restructuring | · | · | · | $1M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $-3M | · | · | · | $479.0K | · | · | · | $10M | · | · | · | $-14M | · | · | |
| Operating Cash Flow | $-23M | $-31M | $-23M | $-24M | $-25M | $-34M | $-28M | $-29M | $-32M | $-33M | $-37M | $-38M | $-28M | $-29M | $-75M | $-55M | |
| CapEx | $80.0K | $239.0K | $1M | $2M | $1M | $1M | $98.0K | $495.0K | $51.0K | $86.0K | $181.0K | $565.0K | $2M | $3M | $7M | $9M | |
| Investing Cash Flow | $15M | $24M | $28M | $21M | $20M | $43M | $23M | $25M | $-53M | $17M | $45M | $25M | $33M | $9M | $53M | $80M | |
| Stock Issued | · | · | · | · | · | · | · | · | $-104.0K | $75M | · | · | · | · | · | · | |
| Net Stock Activity | · | · | · | · | · | · | · | · | $-104.0K | $75M | · | · | · | · | · | · | |
| Financing Cash Flow | · | · | $2M | $2M | $1M | $0 | $3M | $0 | $1M | $95M | $-180.0K | $0 | $58.0K | $207.0K | $2M | $1M | |
| Net Change in Cash | $-7M | $-7M | $6M | $-627.0K | $-4M | $9M | $-2M | $-4M | $-84M | $79M | $9M | $-13M | $5M | $-19M | $-21M | $27M | |
| Free Cash Flow | · | $-31M | · | · | · | $-35M | · | · | · | $-33M | · | · | · | $-32M | · | · |
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 | -1495.4% | -2540.4% | · | -1995.1% | -1938.5% | -2534.1% | · | -1703.9% | -665.7% | -2652.9% | · | -2637.8% | -6705.8% | -48.5% | · | -576.7% | |
| Net Margin | -1448.6% | -2402.8% | · | -1852.4% | -1786.6% | -2309.4% | · | -1551.0% | -567.4% | -2493.7% | · | -2323.6% | -5654.3% | -32.0% | · | -557.8% | |
| EBITDA Margin | -1495.4% | -2315.8% | · | -1995.1% | -1938.5% | -2329.5% | · | -1703.9% | -665.7% | -2402.4% | · | -2637.8% | -6705.8% | -41.4% | · | -576.7% | |
| ROA | -9.6% | -9.1% | · | -7.7% | -7.6% | -7.8% | · | -9.2% | -6.9% | -8.0% | · | -7.0% | -7.6% | -2.5% | · | -9.6% | |
| ROE | -14.5% | -13.3% | · | -10.8% | -10.3% | -10.5% | · | -12.5% | -9.2% | -10.6% | · | -9.8% | -10.4% | -3.4% | · | -13.4% |
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 | 4.8 | 5.8 | · | 7.9 | 8.0 | 8.8 | · | 8.3 | 9.2 | 8.7 | · | 8.8 | 8.8 | 9.0 | · | 5.2 | |
| Quick Ratio | 4.7 | 5.7 | · | 7.7 | 7.8 | 8.6 | · | 8.0 | 8.8 | 2.7 | · | 0.8 | 1.1 | 1.1 | · | 0.9 |
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 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.1 | · | 0.0 | |
| Receivables Turnover | 2.0 | 0.8 | · | 0.7 | 1.6 | 1.0 | · | 1.1 | 3.5 | 0.3 | · | 0.3 | 0.1 | 4.3 | · | 1.7 |
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 | $7M | $7M | · | $8M | $13M | $13M | · | $14M | $12M | $64M | · | $77M | $93M | $111M | · | $66M | |
| Net Income TTM | $-128M | $-135M | · | $-152M | $-158M | $-172M | · | $-179M | $-184M | $-165M | · | $-200M | $-231M | $-244M | · | $-269M | |
| Market Cap | $315M | $140M | · | $145M | $128M | $91M | · | $399M | $373M | $835M | · | $209M | $469M | $560M | · | $2.18B | |
| P/E | -2.5 | -1.1 | · | -1.0 | -0.8 | -0.5 | · | -2.1 | -1.8 | -4.4 | · | -1.0 | -2.0 | -2.3 | · | -8.1 | |
| P/S | 44.8 | 21.2 | · | 17.4 | 9.6 | 6.8 | · | 29.1 | 32.3 | 13.1 | · | 2.7 | 5.0 | 5.0 | · | 32.9 | |
| P/B | 2.1 | 0.8 | · | 0.6 | 0.5 | 0.3 | · | 1.1 | 0.9 | 2.0 | · | 0.5 | 1.1 | 1.2 | · | 4.2 | |
| P / Tangible Book | 2.1 | 0.8 | · | 0.6 | 0.5 | 0.3 | · | 1.1 | 0.9 | 2.0 | · | 0.5 | 1.1 | 1.2 | · | 4.2 | |
| P / Cash Flow | -13.5 | -4.5 | · | · | · | -2.7 | · | · | · | -25.0 | · | · | · | -19.4 | · | · | |
| P / FCF | · | -4.5 | · | · | · | -2.6 | · | · | · | -25.0 | · | · | · | -17.5 | · | · | |
| Earnings Yield | -39.6% | -95.0% | · | -101.6% | -119.6% | -192.4% | · | -47.4% | -54.9% | -22.6% | · | -96.7% | -50.0% | -44.2% | · | -12.4% |
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 | $7M | $14M | $64M | $96M | $56M |
| Operating Margin % | -2222.4% | -1542.6% | -299.9% | -320.2% | -388.6% |
| Net Income | $-136M | $-186M | $-161M | $-282M | $-212M |
| Diluted EPS | $-1.15 | $-1.64 | $-1.64 | $-2.91 | $-2.24 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 5.8 | 7.6 | 8.5 | 4.4 | 7.8 |
| Quick Ratio | 5.7 | 7.3 | 8.1 | 4.2 | 1.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-112M | $-124M | $-138M | $-284M | $-214M |
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Institutional owners (13F) 168 filers · $143.2M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 33 (+2 vs prior Q) | 29 (+15 vs prior Q) | 57 (+5 vs prior Q) | 36 (+3 vs prior Q) | +1.9M |
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 |
|---|---|---|---|---|
| Redmile Group, LLC | $34,756,954 | 12,872,946 | 24.28% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $12,273,911 | 4,545,893 | 8.57% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $12,002,947 | 4,445,536 | 8.38% | Shares |
| TWO SIGMA INVESTMENTS, LP | $9,692,630 | 3,589,863 | 6.77% | Shares |
| JOHNSON & JOHNSON | $9,123,473 | 3,379,064 | 6.37% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $8,054,824 | 2,983,268 | 5.63% | Shares |
| MILLENNIUM MANAGEMENT LLC | $6,571,741 | 2,433,978 | 4.59% | Shares |
| GOLDMAN SACHS GROUP INC | $4,991,431 | 1,848,678 | 3.49% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,969,004 | 1,099,030 | 2.07% | Shares |
| Bruce & Co., Inc. | $2,670,808 | 989,188 | 1.87% | Shares |
| BlackRock, Inc. | $2,061,720 | 763,600 | 1.44% | Shares |
| CITADEL ADVISORS LLC | $1,794,525 | 664,639 | 1.25% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,729,156 | 640,428 | 1.21% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,649,562 | 610,949 | 1.15% | Shares |
| TWO SIGMA ADVISERS, LP | $1,622,960 | 1,651,700 | 1.13% | Shares |
| Qube Research & Technologies Ltd | $1,561,005 | 578,150 | 1.09% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $1,552,487 | 574,995 | 1.08% | Shares |
| STATE STREET CORP | $1,509,106 | 558,928 | 1.05% | Shares |
| DAFNA Capital Management LLC | $1,417,500 | 525,000 | 0.99% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,379,835 | 511,050 | 0.96% | Shares |
| MARSHALL WACE, LLP | $1,329,551 | 492,426 | 0.93% | Shares |
| IEQ CAPITAL, LLC | $1,316,866 | 487,728 | 0.92% | Shares |
| JANE STREET GROUP, LLC | $1,296,232 | 480,086 | 0.91% | Shares |
| Point72 Asset Management, L.P. | $1,194,016 | 442,228 | 0.83% | Shares |
| Privium Fund Management B.V. | $1,118,640 | 414,311 | 0.78% | Shares |
| Susquehanna Portfolio Strategies, LLC | $912,757 | 338,058 | 0.64% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $779,803 | 288,816 | 0.54% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $733,412 | 271,634 | 0.51% | Shares |
| Invesco Ltd. | $718,151 | 265,982 | 0.50% | Shares |
| Headlands Technologies LLC | $679,865 | 251,802 | 0.47% | Shares |
| NORTHERN TRUST CORP | $645,176 | 238,954 | 0.45% | Shares |
| HSBC HOLDINGS PLC | $635,511 | 240,724 | 0.44% | Shares |
| LPL Financial LLC | $550,114 | 203,746 | 0.38% | Shares |
| Mariner, LLC | $518,762 | 192,215 | 0.36% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $499,500 | 185,000 | 0.35% | Shares |
| XTX Topco Ltd | $488,230 | 180,826 | 0.34% | Shares |
| Aster Capital Management (DIFC) Ltd | $476,820 | 176,600 | 0.33% | Shares |
| Man Group plc | $475,489 | 176,107 | 0.33% | Shares |
| BARCLAYS PLC | $460,977 | 170,732 | 0.32% | Shares |
| Woodline Partners LP | $431,055 | 159,650 | 0.30% | Shares |
| Squarepoint Ops LLC | $414,785 | 153,624 | 0.29% | Shares |
| Arete Wealth Advisors, LLC | $405,000 | 150,000 | 0.28% | Shares |
| Assenagon Asset Management S.A. | $393,763 | 145,838 | 0.28% | Shares |
| National Philanthropic Trust | $337,500 | 125,000 | 0.24% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $306,126 | 113,380 | 0.21% | Shares |
| Creative Planning | $294,246 | 108,980 | 0.21% | Shares |
| SCHULHOFF & CO INC | $270,000 | 100,000 | 0.19% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $267,840 | 99,200 | 0.19% | Put option |
| JANE STREET GROUP, LLC | $254,880 | 94,400 | 0.18% | Call option |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $248,275 | 90,481 | 0.17% | Shares |
| Vanguard Global Advisers, LLC | $247,620 | 91,711 | 0.17% | Shares |
| CITADEL ADVISORS LLC | $242,730 | 89,900 | 0.17% | Call option |
| AMERICAN CENTURY COMPANIES INC | $213,081 | 78,919 | 0.15% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $207,257 | 76,762 | 0.14% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $198,752 | 73,612 | 0.14% | Shares |
| Schonfeld Strategic Advisors LLC | $178,624 | 66,158 | 0.12% | Shares |
| CWM, LLC | $167,755 | 139,796 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $166,860 | 61,800 | 0.12% | Call option |
| Focus Partners Wealth | $160,777 | 59,547 | 0.11% | Shares |
| BANK OF AMERICA CORP /DE/ | $159,821 | 59,193 | 0.11% | Shares |
| Jefferies Financial Group Inc. | $159,629 | 59,122 | 0.11% | Shares |
| Vanguard Personalized Indexing Management, LLC | $136,123 | 50,416 | 0.10% | Shares |
| FMR LLC | $126,689 | 46,922 | 0.09% | Shares |
| RHUMBLINE ADVISERS | $124,793 | 46,220 | 0.09% | Shares |
| Y-Intercept (Hong Kong) Ltd | $120,887 | 44,773 | 0.08% | Shares |
| Arax Advisory Partners | $119,670 | 44,322 | 0.08% | Shares |
| Russell Investments Group, Ltd. | $111,634 | 41,346 | 0.08% | Shares |
| AXQ CAPITAL, LP | $110,311 | 40,856 | 0.08% | Shares |
| Corient Private Wealth LP | $107,682 | 39,882 | 0.08% | Shares |
| Abel Hall, LLC | $96,854 | 35,872 | 0.07% | Shares |
| HighTower Advisors, LLC | $90,326 | 33,454 | 0.06% | Shares |
| BRIGHTON JONES LLC | $89,832 | 33,271 | 0.06% | Shares |
| Leo Wealth, LLC | $84,527 | 70,439 | 0.06% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $81,475 | 30,176 | 0.06% | Shares |
| Caitong International Asset Management Co., Ltd | $78,305 | 29,002 | 0.05% | Shares |
| Tower Research Capital LLC (TRC) | $73,899 | 27,370 | 0.05% | Shares |
| FPC INVESTMENT ADVISORY, INC. | $73,548 | 26,456 | 0.05% | Shares |
| Proficio Capital Partners LLC | $70,880 | 26,252 | 0.05% | Shares |
| Hudson Bay Capital Management LP | $67,932 | 25,160 | 0.05% | Shares |
| Cerity Partners LLC | $63,685 | 23,587 | 0.04% | Shares |
| THEORY FINANCIAL LLC | $59,999 | 22,222 | 0.04% | Shares |
| Merit Financial Group, LLC | $58,995 | 21,850 | 0.04% | Shares |
| Bronte Capital Management Pty Ltd. | $58,698 | 21,740 | 0.04% | Shares |
| Parcion Private Wealth LLC | $58,199 | 21,555 | 0.04% | Shares |
| Pallas Capital Advisors LLC | $56,495 | 20,924 | 0.04% | Shares |
| CITIGROUP INC | $53,001 | 19,630 | 0.04% | Shares |
| Parametrica Management Ltd | $49,874 | 18,472 | 0.03% | Shares |
| TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC | $47,498 | 17,592 | 0.03% | Shares |
| NEUBERGER BERMAN GROUP LLC | $43,794 | 16,220 | 0.03% | Shares |
| Caerus Investment Advisors, LLC | $43,300 | 16,037 | 0.03% | Shares |
| Ameritas Advisory Services, LLC | $43,200 | 16,000 | 0.03% | Shares |
| Integrated Wealth Concepts LLC | $41,162 | 15,243 | 0.03% | Shares |
| DEUTSCHE BANK AG\ | $40,927 | 15,158 | 0.03% | Shares |
| Krilogy Financial LLC | $40,157 | 14,873 | 0.03% | Shares |
| Graham Capital Management, L.P. | $38,202 | 14,149 | 0.03% | Shares |
| Balyasny Asset Management L.P. | $36,215 | 13,413 | 0.03% | Shares |
| R Squared Ltd | $35,429 | 13,122 | 0.02% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $35,270 | 13,063 | 0.02% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $34,501 | 12,778 | 0.02% | Shares |
| Narwhal Capital Management | $34,290 | 12,700 | 0.02% | Shares |
Company insiders 28 insiders · 11 officers · 17 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Scott J Wolchko | President and CEO | Feb. 1, 2024 A | 371,248 | 0 | 0 | $0 |
| Christian Weyer | President and Chief Executive Officer | April 13, 2015 M | 30,429 | 0 | 0 | $0 |
| Kamal Adawi | Chief Financial Officer | Jan. 15, 2026 A | 100,000 | 0 | 0 | $0 |
| Edward J Dulac III | Chief Financial Officer | March 4, 2024 S | 101,479 | 0 | 0 | $0 |
| Jerome Charles Bressi | Chief Regulatory and Quality Officer | Jan. 15, 2025 A | 335,203 | 0 | 0 | $0 |
| Brian T. Powl | Chief Commercial Officer | July 5, 2023 S | 41,146 | 0 | 0 | $0 |
| Yu-Waye Chu | Chief Medical Officer | April 18, 2023 S | 140,676 | 0 | 0 | $0 |
| Mark Plavsic | Chief Technical Officer | Jan. 10, 2023 S | 123,705 | 0 | 0 | $0 |
| Daniel D Shoemaker | Chief Scientific Officer | March 8, 2021 S | 73,020 | 0 | 0 | $0 |
| Stewart Abbot | Chief Development Officer | May 15, 2018 M | 64,917 | 0 | 0 | $0 |
| Chris Storgard | Chief Medical Officer | Jan. 16, 2018 A | 37,593 | 0 | 0 | $0 |
| Yuan Xu | Director | June 12, 2026 A | 8,669 | 0 | 0 | $0 |
| Karin Jooss | Director | June 12, 2026 A | 9,848 | 0 | 0 | $0 |
| Laura Hamill | Director | June 12, 2026 A | — | 0 | 0 | $0 |
| Michael Stewart Lee | Director | June 12, 2026 A | 11,331 | 0 | 0 | $0 |
| Shefali Agarwal | Director | June 12, 2026 A | 10,490 | 0 | 0 | $0 |
| Matt Abernethy | Director | June 12, 2026 A | — | 0 | 0 | $0 |
| Robert S Epstein | Director | June 12, 2026 A | 36,331 | 0 | 0 | $0 |
| William H Rastetter | Director | June 12, 2026 A | 36,331 | 0 | 0 | $0 |
| Neelufar Mozaffarian | Director | May 29, 2025 A | — | 0 | 0 | $0 |
| John Mendlein | Director | May 29, 2025 A | 311,231 | 0 | 0 | $0 |
| Timothy Coughlin | Director | June 7, 2024 A | 9,892 | 0 | 0 | $0 |
| Robert Hershberg | Director | June 6, 2023 A | 10,659 | 0 | 0 | $0 |
| Amir Nashat | Director | Aug. 1, 2019 S | 11,034 | 0 | 0 | $0 |
| Mark J Enyedy | Director | May 11, 2016 A | — | 0 | 0 | $0 |
| Robert Nelsen | Director | Oct. 4, 2013 C | 2,473,188 | 0 | 0 | $0 |
| Bahram Valamehr | — | Aug. 4, 2026 S | 591,815 | 0 | 3 | $-168,081 |
| Cindy Tahl | — | Aug. 4, 2026 S | 589,355 | 0 | 3 | $-154,781 |
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 |
|---|---|---|---|---|---|
| Redmile Group, LLC, Jeremy C. Green, RedCo II Offshore SPV LLC, RedCo II Master Fund, L.P. ×11 filings | April 22, 2026 | 14.90% | Amendment | — | SEC |
| Polaris Venture Partners V, L.P. (“PVP V”), Polaris Venture Partners Entrepreneurs’ Fund V, L.P. (“PVPE V”), Polaris Venture Partners Founders’ Fund V, L.P. (“PVPFF V”), Polaris Venture Partners Special Founders’ Fund V, L.P. (“PVPSFF V”), Polaris Venture Management Co. V, L.L.C. (“PVM V”), Jonathan A. Flint (“Flint”), Terrance G. McGuire (“McGuire”), Amir Nashat (“Nashat”) ×2 filings | Dec. 21, 2018 | — | Initial filing | — | SEC |
| Dec. 5, 2016 | — | Initial filing | — | SEC | |
| ARCH Venture Fund VI, L.P., ARCH Venture Partners VI, L.P., ARCH Venture Partners VI, LLC, Clinton Bybee, Keith Crandell, Robert Nelsen ×3 filings | Aug. 15, 2016 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 18 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 |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.42% | 39,374 SH | Aug. 21, 2026 | Daily |
| IWC · iShares Trust | 0.06% | 395,090 SH | Aug. 21, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 227,516 SH | Aug. 21, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 5,119 NS | May 31, 2026 | N-PORT |
| RB · ProShares Trust | 0.01% | 32 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 507,444 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 4,003 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 40,646 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 47,124 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 4,044 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 4,268 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 102 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.00% | 92,643 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 78,075 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 8,842 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 1,149,276 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,194,411 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.00% | 272,591 SH | Aug. 19, 2026 | Daily |