GANX Gain Therapeutics, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 11, 2026
$1.71
· of 52w range
· above low
· to high
$1.5352w low
$4.3052w high
Market Cap (MRQ)
$74M
P/E
-2.8
EPS
$-0.61
Revenue
$55.2K
your badges
52W Range
$2–$4
Analyst Rating
BUY
Price Target
$7
P/E
-2.8
ROE
-181.1%
Net Profit Margin
·
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GANX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.71
Market Cap (MRQ)
$74M
P/E
-2.8
EPS
$-0.61
Revenue
$55.2K
ROE
-181.1%
Debt/Equity (MRQ)
0.0
52W Range
$2–$4
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$55.2K2020-12-31 → 2023-12-31
EPS$-0.612020-12-31 → 2025-12-31
Free Cash Flow·2022-12-31 → 2024-12-31
Net margin·2022-12-31 → 2023-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | GANX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -2.85Y avg ≈-3.1 | ≈-3.1 | · | · | |
| P/B (MRQ) | 6.65Y avg ≈5.4 | ≈5.4 | 3.7 | Overvalued | |
| EV / EBITDA | -2.85Y avg ≈-2.8 | ≈-2.8 | · | · | |
| Price / Cash Flow | -3.95Y avg ≈-3.9 | ≈-3.9 | · | · | |
| Price / Tangible Book | 3.95Y avg ≈4.7 | ≈4.7 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | GANX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -115.4%5Y avg ≈-102.1% | ≈-102.1% | -62.0% | Weak | |
| ROE | -181.1%5Y avg ≈-185.2% | ≈-185.2% | -66.8% | Weak | |
| ROIC | -103.1%5Y avg ≈-158.3% | ≈-158.3% | -15.3% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | GANX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.05Y avg ≈0.0 | ≈0.0 | 0.0 | High debt | |
| Current Ratio (MRQ) | 4.45Y avg ≈4.6 | ≈4.6 | 5.9 | Low liquidity | |
| Quick Ratio | 6.25Y avg ≈4.3 | ≈4.3 | 5.0 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.05Y avg ≈0.0 | ≈0.0 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | GANX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -60.6%5Y avg ≈131.9% | ≈131.9% | · | · | |
| Revenue CAGR 3Y | 24.1% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | GANX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue / Employee | ≈$2.8K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
14.6%
Next Report
Nov 10, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 10, 2026 | $-0.11 | $-0.14 | 24.0% |
| March 31, 2026 | May 19, 2026 | $-0.13 | $-0.14 | 7.3% |
| Dec. 31, 2025 | $-0.11 | $-0.15 | 25.6% | |
| Sept. 30, 2025 | $-0.15 | $-0.15 | 2.0% | |
| June 30, 2025 | $-0.19 | $-0.17 | -10.7% | |
| March 31, 2025 | $-0.16 | $-0.18 | 12.9% | |
| Dec. 31, 2024 | $-0.11 | $-0.19 | 41.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | · | · | $55.2K | $140.1K | $165.0K | $28.9K | |
| R&D Expense | $10M | $11M | $12M | $8M | $7M | $2M | |
| SG&A Expense | $8M | $10M | $11M | $10M | $7M | $1M | |
| Operating Expenses | $19M | $20M | $22M | $18M | $14M | $4M | |
| Operating Income | $-19M | $-20M | $-22M | $-18M | $-14M | $-3M | |
| Pretax Income | $-19M | $-20M | $-22M | $-17M | $-14M | $-4M | |
| Income Tax | $861.1K | $536.8K | $79.3K | $93.0K | $4.0K | $5.4K | |
| Net Income | $-20M | $-20M | $-22M | $-18M | $-14M | $-4M | |
| EPS (Basic) | $-0.61 | $-0.89 | $-1.71 | $-1.48 | $-1.37 | $-1.33 | |
| EPS (Diluted) | $-0.61 | $-0.89 | $-1.71 | $-1.48 | $-1.37 | $-1.33 | |
| Shares (Basic) | 32,968,336 | 22,881,415 | 13,011,361 | 11,883,368 | 10,165,404 | 2,681,408 | |
| Shares (Diluted) | 32,968,336 | 22,881,415 | 13,011,361 | 11,883,368 | 10,165,404 | 2,681,408 | |
| EBITDA | $-19M | $-20M | $-22M | $-18M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $21M | $10M | $12M | $7M | $37M | $7M | |
| Short-term Investments | · | · | $5M | $13M | · | · | |
| Receivables | · | · | · | · | · | $8.5K | |
| Prepaid Expense | $1M | $945.5K | $741.6K | $848.9K | $727.8K | $199.0K | |
| Current Assets | $22M | $12M | $18M | $21M | $38M | $9M | |
| PP&E (Net) | $74.9K | $103.6K | $126.0K | $144.4K | $106.0K | $29.6K | |
| PP&E (Gross) | $258.7K | $227.0K | $218.8K | $197.7K | $134.4K | $42.5K | |
| Accum. Depreciation | $183.8K | $123.4K | $92.8K | $53.3K | $28.4K | $12.9K | |
| Other Non-current Assets | · | · | · | · | · | $51.7K | |
| Total Assets | $23M | $12M | $19M | $24M | $39M | $10M | |
| Accounts Payable | $825.0K | $946.3K | $1M | $2M | $560.5K | $961.5K | |
| Accrued Liabilities | · | · | $1M | $1M | $681.8K | $379.3K | |
| Current Liabilities | $3M | $4M | $5M | $4M | $3M | $2M | |
| Capital Leases | $211.2K | $53.6K | $229.9K | $441.8K | $695.1K | $400.3K | |
| Total Liabilities | $4M | $5M | $6M | $5M | $4M | $3M | |
| Long-term Debt | $401.0K | $438.5K | $567.9K | $603.4K | $694.3K | $738.3K | |
| Total Debt | $401.0K | $438.5K | $567.9K | $603.4K | · | · | |
| Common Stock | $4.2K | $2.7K | $1.6K | $1.2K | $1.2K | $354 | |
| Paid-in Capital | $119M | $89M | $73M | $57M | $56M | $13M | |
| Retained Earnings | $-101M | $-61M | $-39M | $-21M | $-7M | $-3M | |
| AOCI | $776.9K | $-247.5K | $247.2K | $35.6K | $-90.6K | $-152.7K | |
| Stockholders' Equity | $19M | $7M | $13M | $19M | $35M | $6M | |
| Liabilities + Equity | $23M | $12M | $19M | $24M | $39M | $10M | |
| Shares Outstanding | 42,073,807 | 27,132,588 | 16,206,680 | 11,883,368 | 11,883,368 | 3,543,163 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $94.0K | $84.1K | $83.6K | $64.2K | $15.5K | $9.6K | |
| Stock-based Comp | $2M | $2M | $3M | $2M | $839.4K | $81.6K | |
| Other Non-cash | $-1M | $-2M | $501.3K | $3M | · | · | |
| Operating Cash Flow | $-18M | $-19M | $-19M | $-15M | $-12M | $-3M | |
| CapEx | · | $22.5K | $15.4K | $119.0K | $94.2K | $20.8K | |
| Investing Cash Flow | · | $5M | $10M | $-15M | $-94.2K | $-20.8K | |
| Debt Issued | · | · | · | · | · | $738.3K | |
| Financing Cash Flow | $28M | $13M | $13M | $-78.8K | $42M | $10M | |
| Net Change in Cash | $10M | $-1M | $4M | $-30M | $29M | $7M | |
| Taxes Paid | $47.5K | $86.3K | $135.0K | $2.7K | $4.5K | · | |
| Free Cash Flow | · | $-19M | $-19M | $-15M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | -40328.3% | -12688.1% | · | · | |
| Net Margin | · | · | -40354.3% | -12555.1% | · | · | |
| Pretax Margin | · | · | -40210.7% | -12488.8% | · | · | |
| EBITDA Margin | · | · | -40176.8% | -12642.3% | · | · | |
| ROA | -115.4% | -132.8% | -104.3% | -55.8% | · | · | |
| ROE | -181.1% | -251.2% | -223.7% | -84.7% | · | · | |
| ROIC | -103.1% | -268.7% | -169.9% | -91.7% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 6.6 | 3.0 | 3.6 | 5.1 | · | · | |
| Quick Ratio | 6.2 | 2.7 | 3.4 | 4.9 | · | · | |
| Debt / Equity | 0.0 | 0.1 | 0.0 | 0.0 | · | · | |
| LT Debt / Equity | 0.0 | 0.0 | 0.0 | 0.0 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.0 | 0.0 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.44 | $0.27 | $0.78 | $1.59 | · | · | |
| Revenue / Share | · | · | $0.00 | $0.01 | · | · | |
| Cash Flow / Share | $-0.56 | $-0.82 | $-1.45 | $-1.24 | · | · | |
| Cash / Share | $0.50 | $0.38 | $0.73 | $0.62 | · | · | |
| EPS (TTM) | $-0.61 | $-0.89 | $-1.71 | $-1.48 | $-1.37 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | · | · | -60.6% | -15.1% | 471.3% | · | |
| Revenue CAGR 3Y | · | · | 24.1% | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | · | · | $55.2K | $140.1K | $165.0K | · | |
| Net Income TTM | $-20M | $-20M | $-22M | $-18M | $-14M | · | |
| Market Cap | $135M | $59M | $53M | $37M | · | · | |
| Enterprise Value | $115M | $49M | $37M | $18M | · | · | |
| P/E | -5.3 | -2.4 | -1.9 | -2.1 | -4.0 | · | |
| P/S | · | · | 958.9 | 265.5 | · | · | |
| P/B | 7.3 | 8.0 | 4.2 | 2.0 | · | · | |
| P / Tangible Book | 7.3 | 8.0 | 4.2 | 2.0 | 1.9 | · | |
| P / Cash Flow | -7.3 | -3.1 | -2.8 | -2.5 | · | · | |
| P / FCF | · | -3.1 | -2.8 | -2.5 | · | · | |
| EV / EBITDA | -6.2 | -2.4 | -1.7 | -1.0 | · | · | |
| EV / FCF | · | -2.6 | -1.9 | -1.2 | · | · | |
| EV / Revenue | · | · | 664.9 | 126.0 | · | · | |
| Earnings Yield | -18.9% | -41.2% | -52.4% | -47.3% | -25.2% | · |
Income Statement
| 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 | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $55.2K | $0 | $0 | |
| R&D Expense | $2M | $3M | $2M | $3M | $3M | $2M | $1M | $3M | $4M | $3M | $2M | $2M | $4M | $3M | $2M | $2M | |
| SG&A Expense | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $4M | $2M | $2M | $3M | $4M | $2M | $2M | $3M | |
| Operating Expenses | $5M | $5M | $4M | $5M | $5M | $4M | $3M | $4M | $8M | $4M | $4M | $5M | $8M | $5M | $5M | $5M | |
| Operating Income | $-5M | $-5M | $-4M | $-5M | $-5M | $-4M | $-3M | $-4M | $-8M | $-4M | $-4M | $-5M | $-8M | $-5M | $-5M | $-5M | |
| Pretax Income | $-5M | $-5M | $-4M | $-5M | $-6M | $-4M | $-3M | $-4M | $-8M | $-4M | $-5M | $-5M | $-8M | $-5M | $-5M | $-5M | |
| Income Tax | $104.1K | $183.1K | $70.1K | $549.3K | $141.2K | $100.5K | $504.7K | $11.0K | $1.2K | $19.9K | $14.5K | $21.5K | $26.6K | $16.7K | $78.1K | $4.0K | |
| Net Income | $-5M | $-6M | $-5M | $-5M | $-6M | $-5M | $-4M | $-4M | $-8M | $-4M | $-5M | $-5M | $-8M | $-5M | $-5M | $-5M | |
| EPS (Basic) | $-0.11 | $-0.13 | $-0.11 | $-0.15 | $-0.19 | $-0.16 | $-0.08 | $-0.17 | $-0.42 | $-0.22 | $-0.29 | $-0.37 | $-0.62 | $-0.43 | $-0.39 | $-0.38 | |
| EPS (Diluted) | $-0.11 | $-0.13 | $-0.11 | $-0.15 | $-0.19 | $-0.16 | $-0.08 | $-0.17 | $-0.42 | $-0.22 | $-0.29 | $-0.37 | $-0.62 | $-0.43 | $-0.39 | $-0.38 | |
| Shares (Basic) | 42,879,541 | 42,230,248 | · | 34,998,060 | 30,341,523 | 28,685,417 | · | 26,531,747 | 19,215,582 | 17,978,951 | · | 12,701,401 | 12,387,089 | 11,935,081 | · | 11,883,368 | |
| Shares (Diluted) | 42,879,541 | 42,230,248 | · | 34,998,060 | 30,341,523 | 28,685,417 | · | 26,531,747 | 19,215,582 | 17,978,951 | · | 12,701,401 | 12,387,089 | 11,935,081 | · | 11,883,368 | |
| EBITDA | $-5M | $-5M | · | $-5M | $-5M | $-4M | · | $-4M | $-8M | $-4M | · | $-5M | $-8M | $-5M | · | $-5M |
Balance Sheet
| 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 | $13M | $17M | $21M | $9M | $7M | $9M | $10M | $12M | $17M | $11M | $12M | $4M | $6M | $6M | $7M | $11M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | $2M | $5M | $8M | $10M | $12M | $13M | $12M | |
| Prepaid Expense | $2M | $1M | $1M | $1M | $2M | $2M | $945.5K | $1M | $1M | $952.9K | $741.6K | $906.8K | $954.6K | $1M | $848.9K | $2M | |
| Current Assets | $15M | $18M | $22M | $11M | $9M | $11M | $12M | $14M | $19M | $14M | $18M | $13M | $17M | $19M | $21M | $24M | |
| PP&E (Net) | $47.0K | $54.4K | $74.9K | $85.6K | $96.2K | $97.5K | $103.6K | $119.6K | $123.9K | $111.9K | $126.0K | $127.4K | $138.6K | $144.6K | $144.4K | $136.7K | |
| PP&E (Gross) | $213.1K | $207.8K | $258.7K | $255.2K | $255.9K | $234.3K | $227.0K | $241.3K | $230.6K | $209.5K | $218.8K | $206.3K | $210.5K | $206.9K | $197.7K | $178.8K | |
| Accum. Depreciation | $166.1K | $153.3K | $183.8K | $169.6K | $159.7K | $136.8K | $123.4K | $121.7K | $106.7K | $97.6K | $92.8K | $78.9K | $71.9K | $62.3K | $53.3K | $42.1K | |
| Total Assets | $15M | $19M | $23M | $11M | $10M | $12M | $12M | $14M | $19M | $15M | $19M | $14M | $18M | $21M | $24M | $28M | |
| Accounts Payable | $1M | $2M | $825.0K | $2M | $3M | $2M | $946.3K | $1M | $2M | $1M | $1M | $1M | $924.4K | $2M | $2M | $1M | |
| Accrued Liabilities | · | · | · | · | · | · | · | $673.8K | $2M | $1M | · | $1M | $2M | $1M | $1M | $2M | |
| Current Liabilities | $3M | $4M | $3M | $4M | $5M | $5M | $4M | $5M | $7M | $5M | $5M | $6M | $6M | $5M | $4M | $4M | |
| Capital Leases | $156.8K | $182.1K | $211.2K | $65.0K | $92.9K | $30.6K | $53.6K | $96.2K | $134.3K | $177.4K | $229.9K | $263.5K | $330.1K | $385.9K | $441.8K | $468.8K | |
| Total Liabilities | $4M | $5M | $4M | $5M | $6M | $6M | $5M | $5M | $7M | $6M | $6M | $7M | $7M | $6M | $5M | $6M | |
| Long-term Debt | $343.7K | $373.5K | $401.0K | $424.3K | $451.5K | $427.6K | $438.5K | $494.4K | $486.4K | $507.7K | $567.9K | $544.2K | $578.3K | $587.5K | $603.4K | $585.3K | |
| Total Debt | $343.7K | $373.5K | · | $424.3K | $451.5K | $427.6K | · | $494.4K | $486.4K | $507.7K | · | $544.2K | $578.3K | $587.5K | · | $585.3K | |
| Common Stock | $4.3K | $4.2K | $4.2K | $3.6K | $3.1K | $2.9K | $2.7K | $2.6K | $2.5K | $1.8K | $1.6K | $1.3K | $1.3K | $1.2K | $1.2K | $1.2K | |
| Paid-in Capital | $122M | $120M | $119M | $102M | $95M | $92M | $89M | $86M | $85M | $73M | $73M | $63M | $62M | $59M | $57M | $57M | |
| Retained Earnings | $-112M | $-101M | $-81M | $-81M | $-81M | $-81M | $-61M | $-61M | $-61M | $-61M | $-39M | · | · | $-39M | $-21M | $-21M | |
| AOCI | $1M | $997.0K | $776.9K | $563.2K | $584.1K | $-119.9K | $-247.5K | $242.8K | $12.5K | $21.9K | $247.2K | $90.7K | $134.3K | $96.3K | $35.6K | $-296.9K | |
| Stockholders' Equity | $11M | $14M | $19M | $6M | $4M | $6M | $7M | $9M | $12M | $9M | $13M | $7M | $11M | $15M | $19M | $23M | |
| Liabilities + Equity | $15M | $19M | $23M | $11M | $10M | $12M | $12M | $14M | $19M | $15M | $19M | $14M | $18M | $21M | $24M | $28M | |
| Shares Outstanding | 43,340,501 | 42,488,578 | 42,073,807 | 35,976,390 | 30,771,321 | 28,746,041 | 27,132,588 | 25,962,246 | 25,172,573 | 18,041,231 | 16,206,680 | 12,782,861 | 12,632,327 | 12,087,142 | 11,883,368 | 11,883,368 |
Cash Flow
| 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 | $27.2K | $21.3K | $28.2K | $22.8K | $22.3K | $20.7K | $21.3K | $21.6K | $20.6K | $20.5K | $23.6K | $20.5K | $20.2K | $19.2K | $18.1K | $17.8K | |
| Stock-based Comp | $566.0K | $403.5K | $401.7K | $460.0K | $522.0K | $419.5K | $359.3K | $357.5K | $1M | $190.4K | $555.1K | $907.3K | $1M | $565.4K | $558.7K | $355.6K | |
| Other Non-cash | · | $682.3K | · | · | · | $427.1K | · | · | · | $633.5K | · | · | · | $792.7K | · | · | |
| Operating Cash Flow | $-5M | $-5M | $-5M | $-5M | $-5M | $-4M | $-3M | $-6M | $-6M | $-4M | $-6M | $-4M | $-5M | $-4M | $-4M | $-3M | |
| CapEx | · | · | · | · | · | · | $945 | $1 | · | · | $19 | $650 | $3.6K | $11.0K | $9.4K | $57.2K | |
| Investing Cash Flow | · | · | · | · | · | · | $-43.4K | $-1 | $2M | $3M | $3M | $2M | $3M | $2M | $133.8K | $-11.4K | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | $157.1K | $2M | $770.5K | · | · | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | $770.5K | · | · | |
| Financing Cash Flow | $1M | $404.3K | $17M | $7M | $2M | $2M | $2M | $808.7K | $10M | $-145.8K | $10M | $134.5K | $2M | $748.9K | $-21.6K | $-20.6K | |
| Net Change in Cash | $-3M | $-4M | $12M | $2M | $-2M | $-1M | $-2M | $-5M | $6M | $-1M | $8M | $-2M | $332.4K | $-1M | $-4M | $-3M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | · | $-4M | · | · |
Profitability
| 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 | · | · | · | · | · | · | · | -4230.3% | -9680.3% | -3796.7% | · | -4608.5% | -5950.3% | -9477.7% | · | -3098.5% | |
| Net Margin | · | · | · | · | · | · | · | -4255.7% | -9633.2% | -3481.4% | · | -4451.2% | -5917.0% | -9310.1% | · | -2972.8% | |
| Pretax Margin | · | · | · | · | · | · | · | -4245.2% | -9631.8% | -3464.2% | · | -4430.9% | -5896.6% | -9279.8% | · | -2970.1% | |
| EBITDA Margin | · | · | · | · | · | · | · | -4230.3% | -9680.3% | -3778.9% | · | -4608.5% | -5950.3% | -9442.8% | · | -3098.5% | |
| ROA | -37.0% | -37.0% | · | -41.7% | -40.0% | -34.6% | · | -31.5% | -43.5% | -22.4% | · | -22.2% | -30.7% | -17.4% | · | -12.9% | |
| ROE | -62.4% | -56.7% | · | -71.3% | -75.0% | -62.8% | · | -55.2% | -71.2% | -33.8% | · | -31.5% | -40.4% | -21.9% | · | -15.1% | |
| ROIC | -41.1% | -38.5% | · | -84.3% | -125.8% | -72.0% | · | -47.5% | -66.7% | -48.1% | · | -62.3% | -66.5% | -33.4% | · | -20.4% |
Liquidity & Solvency
| 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 | 4.4 | 4.7 | · | 2.5 | 1.8 | 2.2 | · | 3.0 | 2.8 | 2.8 | · | 2.3 | 3.1 | 3.7 | · | 5.6 | |
| Quick Ratio | 3.8 | 4.3 | · | 2.1 | 1.3 | 1.8 | · | 2.6 | 2.6 | 2.5 | · | 2.1 | 2.9 | 3.5 | · | 5.2 | |
| Debt / Equity | 0.0 | 0.0 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.0 | 0.1 | · | 0.1 | 0.1 | 0.0 | · | 0.0 | |
| LT Debt / Equity | 0.0 | 0.0 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.0 |
Efficiency
| 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 |
Per Share
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.26 | $0.33 | · | $0.16 | $0.12 | $0.20 | · | $0.34 | $0.47 | $0.48 | · | $0.57 | $0.88 | $1.25 | · | $1.91 | |
| Revenue / Share | · | · | · | · | · | · | · | $0.00 | $0.00 | $0.01 | · | $0.01 | $0.01 | $0.00 | · | $0.01 | |
| Cash Flow / Share | · | $-0.11 | · | · | · | $-0.13 | · | · | · | $-0.20 | · | · | · | $-0.35 | · | · | |
| Cash / Share | $0.30 | $0.39 | · | $0.24 | $0.22 | $0.32 | · | $0.46 | $0.67 | $0.59 | · | $0.33 | $0.50 | $0.50 | · | $0.92 | |
| EPS (TTM) | $-0.50 | $-0.58 | · | $-0.58 | $-0.60 | $-0.83 | · | $-1.10 | $-1.30 | $-1.50 | · | $-1.81 | $-1.82 | $-1.63 | · | $-1.27 |
Valuation (TTM)
| 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 | $55.2K | $55.2K | · | $55.2K | $55.2K | $55.2K | · | $55.2K | $55.2K | $55.2K | · | $55.2K | $55.2K | $150.3K | · | $183.3K | |
| Net Income TTM | $-20M | $-21M | · | $-19M | $-19M | $-21M | · | $-21M | $-22M | $-21M | · | $-22M | $-22M | $-19M | · | $-16M | |
| Market Cap | $88M | $82M | · | $64M | $55M | $55M | · | $46M | $32M | $68M | · | $42M | $57M | $58M | · | $39M | |
| Enterprise Value | $75M | $66M | · | $55M | $49M | $46M | · | $35M | $16M | $56M | · | $30M | $41M | $41M | · | $17M | |
| P/E | -4.1 | -3.3 | · | -3.1 | -3.0 | -2.3 | · | -1.6 | -1.0 | -2.5 | · | -1.8 | -2.5 | -3.0 | · | -2.6 | |
| P/S | 1594.4 | 1493.8 | · | 1154.0 | 1003.8 | 995.0 | · | 837.5 | 583.9 | 1232.6 | · | 759.8 | 1025.6 | 387.7 | · | 211.3 | |
| P/B | 7.8 | 5.9 | · | 10.8 | 15.0 | 9.5 | · | 5.2 | 2.7 | 7.9 | · | 5.7 | 5.1 | 3.8 | · | 1.7 | |
| P / Tangible Book | 7.8 | 5.9 | · | 10.8 | 15.0 | 9.5 | · | 5.2 | 2.7 | 7.9 | · | 5.7 | 5.1 | 3.8 | · | 1.7 | |
| P / Cash Flow | · | -17.4 | · | · | · | -14.4 | · | · | · | -19.0 | · | · | · | -13.8 | · | · | |
| EV / Revenue | 1363.6 | 1200.8 | · | 1002.1 | 890.6 | 838.4 | · | 628.1 | 285.8 | 1012.4 | · | 548.0 | 742.6 | 273.0 | · | 90.5 | |
| Earnings Yield | -24.6% | -29.9% | · | -32.8% | -33.3% | -43.5% | · | -61.8% | -101.6% | -39.8% | · | -55.2% | -40.6% | -33.8% | · | -39.0% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | · | · | $55.2K | $140.1K | $165.0K |
| Operating Margin % | · | · | -40328.3% | -12688.1% | · |
| Net Income | $-20M | $-20M | $-22M | $-18M | $-14M |
| Diluted EPS | $-0.61 | $-0.89 | $-1.71 | $-1.48 | $-1.37 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.1 | 0.0 | 0.0 | · |
| Current Ratio | 6.6 | 3.0 | 3.6 | 5.1 | · |
| Quick Ratio | 6.2 | 2.7 | 3.4 | 4.9 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | $-19M | $-19M | $-15M | · |
Institutional owners (13F) 54 filers · $17.0M 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.
Holders
54
Value held
$17.0M
New positions
13
Exited positions
4
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 13 (+1 vs prior Q) | 4 (-10 vs prior Q) | 16 (+5 vs prior Q) | 10 (-1 vs prior Q) | +490K |
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 |
|---|---|---|---|---|
| MARSHALL WACE, LLP | $3,904,799 | 1,923,546 | 22.93% | Shares |
| Potomac Capital Management, Inc. | $1,921,192 | 946,400 | 11.28% | Shares |
| VANGUARD GROUP INC | $1,835,082 | 569,901 | 10.78% | Shares |
| DME Capital Management, LP | $1,149,244 | 566,130 | 6.75% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $1,065,036 | 608,592 | 6.25% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $974,946 | 480,269 | 5.73% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $921,372 | 453,501 | 5.41% | Shares |
| BlackRock, Inc. | $558,163 | 274,957 | 3.28% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $470,014 | 231,534 | 2.76% | Shares |
| UBS Group AG | $436,475 | 215,012 | 2.56% | Shares |
| Stratos Wealth Partners, LTD. | $406,000 | 200,000 | 2.38% | Shares |
| Cresset Asset Management, LLC | $324,800 | 160,000 | 1.91% | Shares |
| STATE STREET CORP | $319,800 | 157,537 | 1.88% | Shares |
| CITADEL ADVISORS LLC | $313,684 | 154,524 | 1.84% | Shares |
| Squarepoint Ops LLC | $276,809 | 136,359 | 1.63% | Shares |
| MORGAN STANLEY | $255,723 | 125,972 | 1.50% | Shares |
| LPL Financial LLC | $238,020 | 117,251 | 1.40% | Shares |
| NORTHERN TRUST CORP | $196,936 | 97,013 | 1.16% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $158,758 | 78,206 | 0.93% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $118,670 | 58,456 | 0.70% | Shares |
| JANE STREET GROUP, LLC | $112,925 | 55,628 | 0.66% | Shares |
| XTX Topco Ltd | $112,247 | 55,294 | 0.66% | Shares |
| JANE STREET GROUP, LLC | $84,448 | 41,600 | 0.50% | Call option |
| CITADEL ADVISORS LLC | $82,621 | 40,700 | 0.49% | Call option |
| PRELUDE CAPITAL MANAGEMENT, LLC | $72,715 | 35,820 | 0.43% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $72,471 | 35,700 | 0.43% | Put option |
| BENEDICT FINANCIAL ADVISORS INC | $71,050 | 35,000 | 0.42% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $60,908 | 30,004 | 0.36% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $58,667 | 28,900 | 0.34% | Call option |
| Apollon Wealth Management, LLC | $53,795 | 26,500 | 0.32% | Shares |
| Oliver Luxxe Assets LLC | $41,108 | 20,250 | 0.24% | Shares |
| Vanguard Global Advisers, LLC | $37,303 | 18,376 | 0.22% | Shares |
| HighTower Advisors, LLC | $34,863 | 17,174 | 0.20% | Shares |
| Wealthspire Advisors, LLC | $34,307 | 16,900 | 0.20% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $30,701 | 17,056 | 0.18% | Shares |
| HB Wealth Management, LLC | $25,949 | 12,783 | 0.15% | Shares |
| TWO SIGMA SECURITIES, LLC | $25,860 | 12,739 | 0.15% | Shares |
| Millington Financial Advisors, LLC | $25,650 | 15,000 | 0.15% | Shares |
| HARBOUR INVESTMENTS, INC. | $21,812 | 10,745 | 0.13% | Shares |
| NewEdge Advisors, LLC | $21,518 | 10,600 | 0.13% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $20,300 | 10,000 | 0.12% | Shares |
| Sanctuary Advisors, LLC | $20,300 | 10,000 | 0.12% | Shares |
| WELLS FARGO & COMPANY/MN | $19,082 | 9,400 | 0.11% | Shares |
| Tower Research Capital LLC (TRC) | $16,891 | 8,321 | 0.10% | Shares |
| GROUP ONE TRADING LLC | $7,730 | 3,808 | 0.05% | Shares |
| OSAIC HOLDINGS, INC. | $4,060 | 2,000 | 0.02% | Shares |
| Arax Advisory Partners | $3,451 | 1,700 | 0.02% | Shares |
| JPMORGAN CHASE & CO | $3,366 | 1,700 | 0.02% | Shares |
| BARCLAYS PLC | $2,745 | 1,352 | 0.02% | Shares |
| GSA CAPITAL PARTNERS LLP | $1,283 | 632,131 | 0.01% | Shares |
Company insiders 12 insiders · 5 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Gene Mack | CEO, President | March 24, 2026 A | 14,400 | 0 | 0 | $0 |
| Matthias Alder | Chief Executive Officer | March 26, 2024 M | 21,140 | 0 | 0 | $0 |
| Charles Evan Ballantyne | Chief Financial Officer | April 10, 2023 A | · | 0 | 0 | $0 |
| Salvatore Calabrese | Chief Financial Officer | March 23, 2023 A | 3,000 | 0 | 0 | $0 |
| Gianluca Fuggetta | See Remark | March 24, 2026 A | · | 0 | 0 | $0 |
| Khalid Islam | Director | July 15, 2026 A | 50,000 | 0 | 0 | $0 |
| Claude Nicaise | Director | July 15, 2026 A | · | 0 | 0 | $0 |
| Gwen A Melincoff | Director | July 15, 2026 A | · | 0 | 0 | $0 |
| Jeffrey Scott Riley | Director | July 15, 2026 A | 30,000 | 0 | 0 | $0 |
| HASLER HANS PETER | Director | July 15, 2026 A | · | 0 | 0 | $0 |
| GOLDSTEIN DOV A MD | Director | July 15, 2026 A | · | 0 | 0 | $0 |
| Eric I Richman | Director | June 24, 2025 A | 289,629 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 2 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
GANX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 11 analysts
BUY
Median target
$8.00
+367.8%
4 36.4%
Strong Buy
6 54.5%
Buy
1 9.1%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-10-01Mean target $7.20 +321.1%
← Below all targets
Current price $1.71
Low$5.00
Mean$7.20
High$8.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GANX | $135M | -5.3 | -60.6% | · | -181.1% | · |
| ACRV | $76M | -1.2 | · | · | -61.0% | · |
| SERA | · | -4.4 | 5.2% | -39417.3% | -39.0% | · |
| HRTX | $245M | -10.8 | 7.4% | -13.0% | 312.5% | 73.3% |
| TENX | $114M | -9.1 | · | · | -52.5% | · |
| RNXT | · | -2.6 | 2511.6% | · | · | · |
| ALDX | $312M | -9.2 | · | · | -68.0% | · |
| SPRO | $131M | 15.5 | 39.2% | 12.8% | 18.7% | · |
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Source: SEC 10-Q filed Aug 11, 2026