GOSS Gossamer Bio, Inc. - Common Stock
$0.14
Price · Aug 18, 2026
Fundamentals as of Aug 13, 2026
52W Range
$0–$4
1% of range
Analyst Rating
BUY
14 analysts
Price Target
$2
+1065% upside
P/E (TTM)
-0.2
ROE
201.8%
Net Profit Margin
-351.5%
GOSS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.14
Market Cap
$33M
P/E (TTM)
-0.2
EPS (TTM)
$-0.75
Revenue (TTM)
$48M
Div Yield
—
ROE
201.8%
Debt/Equity
—
52W Range
$0 – $4
GOSS 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
$48M
2022-12-31
→
2025-12-31
EPS
$-0.75
2019-12-31
→
2025-12-31
Free Cash Flow
$-171M
2019-12-31
→
2025-12-31
Margins
-351.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
GOSS
Peer Median
P/E (TTM)
-0.2
2.6
P/S (TTM)
0.7
1.9
P/B
-0.3
3.1
Price / FCF
-0.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
GOSS
Peer Median
Operating Margin
-352.2%
—
Net Profit Margin
-351.5%
-351.5%
ROA
-69.9%
-60.9%
ROE
201.8%
-99.5%
ROIC
139.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
GOSS
Peer Median
Current Ratio
2.6
2.6
Quick Ratio
2.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
GOSS
Peer Median
Revenue YoY
-57.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
GOSS
Peer Median
GOSS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
14 analysts
- Strong Buy 3 21.4%
- Buy 6 42.9%
- Hold 4 28.6%
- Sell 1 7.1%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-16
Median
$1.00
Mean
$1.66
← Below all targets
$0.14
Low
$0.28
High
$4.00
Median target
$1.00
+603.7%
Mean target
$1.66
+1065.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.20 | $-0.17 | -0.03% |
| Dec. 31, 2025 | $-0.21 | $-0.20 | -0.01% |
| Sept. 30, 2025 | $-0.21 | $-0.20 | -0.01% |
| June 30, 2025 | $-0.17 | $-0.18 | 0.01% |
| March 31, 2025 | $-0.16 | $-0.19 | 0.03% |
| Dec. 31, 2024 | $-0.15 | $-0.17 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GOSS | $724M | -4.1 | -57.7% | -351.5% | 201.8% | — |
| NMAD | — | — | — | — | — | — |
| ANVS | $94M | -2.5 | — | — | -164.0% | — |
| CRDF | $192M | -4.1 | -13.2% | -7732.0% | -88.2% | — |
| ACET | — | -0.5 | — | — | — | — |
| ELTX | — | -3.1 | — | — | — | — |
| SPRO | $131M | 15.5 | 39.2% | 12.8% | 18.7% | — |
| IBIO | $15M | -0.4 | 77.8% | -4594.2% | -101.5% | — |
| CYPH | $97M | 16.6 | — | — | 6.1% | — |
| XBIT | — | -1.6 | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $48M | $115M | $0 | $0 | |
| SG&A Expense | $38M | $36M | $38M | $48M | |
| Operating Expenses | $219M | $175M | $184M | $219M | |
| Operating Income | $-171M | $-60M | $-184M | $-219M | |
| Interest Expense | · | · | $14M | $14M | |
| Interest Income | $2M | $2M | $2M | $2M | |
| Other Non-op | $9M | $14M | $15M | $2M | |
| Pretax Income | $-170M | $-56M | $-180M | $-229M | |
| Income Tax | $-88.0K | $893.0K | $0 | $0 | |
| Net Income | $-170M | $-57M | $-180M | $-229M | |
| EPS (Basic) | $-0.75 | $-0.25 | $-1.18 | $-2.71 | |
| EPS (Diluted) | $-0.75 | $-0.25 | $-1.18 | $-2.71 | |
| Shares (Basic) | 228,519,130 | 226,228,016 | 152,621,669 | 84,574,869 | |
| Shares (Diluted) | 228,519,130 | 226,228,016 | 152,621,669 | 84,574,869 | |
| EBITDA | $-171M | $-59M | $-182M | $-217M |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $38M | $46M | $32M | $112M | |
| Short-term Investments | $99M | $248M | $264M | $144M | |
| Receivables | $12M | $5M | $0 | · | |
| Prepaid Expense | $18M | $10M | $10M | $6M | |
| Current Assets | $168M | $310M | $307M | $262M | |
| PP&E (Net) | $64.0K | $10.0K | $2M | $4M | |
| PP&E (Gross) | $271.0K | $193.0K | $7M | $10M | |
| Accum. Depreciation | $207.0K | $183.0K | $5M | $6M | |
| Other Non-current Assets | $408.0K | $283.0K | $618.0K | $680.0K | |
| Total Assets | $172M | $315M | $312M | $272M | |
| Accounts Payable | $6M | $2M | $6M | $1M | |
| Accrued Liabilities | $16M | $15M | $27M | $21M | |
| Current Liabilities | $63M | $45M | $52M | $49M | |
| Capital Leases | $3M | $4M | $144.0K | $3M | |
| Total Liabilities | $295M | $286M | $249M | $260M | |
| Long-term Debt | · | $0 | $12M | $24M | |
| Total Debt | · | $0 | $12M | $24M | |
| Common Stock | $24.0K | $23.0K | $23.0K | $10.0K | |
| Retained Earnings | $-1.44B | $-1.27B | $-1.21B | $-1.03B | |
| AOCI | $-5M | $1M | $-350.0K | $-574.0K | |
| Stockholders' Equity | $-123M | $29M | $63M | $12M | |
| Liabilities + Equity | $172M | $315M | $312M | $272M | |
| Shares Outstanding | 233,677,057 | 226,604,138 | 225,409,315 | 94,423,181 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $24.0K | $833.0K | $2M | $2M | |
| Stock-based Comp | $11M | $21M | $29M | $43M | |
| Other Non-cash | $-11M | $32M | $-9M | $-2M | |
| Operating Cash Flow | $-171M | $-3M | $-159M | $-187M | |
| CapEx | $79.0K | $0 | $0 | $410.0K | |
| Investing Cash Flow | $156M | $29M | $-111M | $-1M | |
| Net Debt Issued | $0 | $-13M | $-12M | $-6M | |
| Stock Issued | · | · | · | $0 | |
| Net Stock Activity | · | · | · | $0 | |
| Financing Cash Flow | $6M | $-11M | $190M | $117M | |
| Net Change in Cash | $-8M | $14M | $-80M | $-71M | |
| Free Cash Flow | $-171M | $-3M | $-159M | $-187M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Margin | -352.2% | -52.2% | · | · | |
| Net Margin | -351.5% | -49.3% | · | · | |
| Pretax Margin | -351.7% | -48.5% | · | · | |
| EBITDA Margin | -352.2% | -51.5% | · | · | |
| ROA | -69.9% | -18.0% | -61.5% | -74.5% | |
| ROE | 201.8% | -135.2% | -214.8% | -670.4% | |
| ROIC | 139.0% | -206.4% | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 2.6 | 6.9 | 5.9 | 5.3 | |
| Quick Ratio | 2.4 | 6.7 | 5.7 | 5.2 | |
| Debt / Equity | · | 0.0 | 0.2 | 2.0 | |
| LT Debt / Equity | · | 0.0 | 0.0 | 1.0 | |
| Interest Coverage | · | · | -13.6 | -15.7 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.4 | · | · | |
| Receivables Turnover | 5.5 | 43.0 | · | · |
Growth Rates 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | -57.7% | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $48M | $115M | $0 | $0 | |
| Net Income TTM | $-170M | $-57M | $-180M | $-229M | |
| Market Cap | $724M | $205M | $206M | $205M | |
| Enterprise Value | · | $-89M | $-78M | $-27M | |
| P/E | -4.1 | -3.6 | -0.8 | -0.8 | |
| P/S | 14.9 | 1.8 | · | · | |
| P/B | -5.9 | 7.0 | 3.3 | 17.0 | |
| P / Tangible Book | · | 7.0 | 3.3 | 17.0 | |
| P / Cash Flow | -4.2 | -59.1 | -1.3 | -1.1 | |
| P / FCF | -4.2 | -59.1 | -1.3 | -1.1 | |
| EV / EBITDA | · | 1.5 | 0.4 | 0.1 | |
| EV / FCF | · | 25.8 | 0.5 | 0.1 | |
| EV / Revenue | · | -0.8 | · | · | |
| Earnings Yield | -24.2% | -27.6% | -129.2% | -124.9% |
Income Statement 15
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9M | $17M | $14M | $13M | $11M | $10M | $9M | $9M | $96M | $0 | $0 | $0 | $0 | |
| SG&A Expense | $9M | $19M | $11M | $9M | $9M | $9M | $9M | $9M | $9M | $10M | $9M | $9M | $10M | |
| Operating Expenses | $35M | $62M | $60M | $62M | $50M | $47M | $46M | $43M | $44M | $42M | $49M | $40M | $46M | |
| Operating Income | $-26M | $-45M | $-46M | $-49M | $-39M | $-37M | $-36M | $-34M | $52M | $-42M | $-49M | $-40M | $-46M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $3M | · | $3M | $3M | |
| Interest Income | $268.0K | $354.0K | $447.0K | $687.0K | $542.0K | $294.0K | $-744.0K | $430.0K | $2M | $344.0K | $310.0K | $405.0K | $695.0K | |
| Other Non-op | $-4M | $603.0K | $1M | $3M | $3M | $3M | $4M | $4M | $3M | $3M | $4M | $3M | $7M | |
| Pretax Income | · | · | $-47M | $-48M | $-38M | · | $-35M | $-32M | $54M | · | $-48M | $-40M | $-42M | |
| Income Tax | · | · | $-88.0K | $0 | $0 | · | $-2M | $-1M | $4M | · | $0 | $0 | $0 | |
| Net Income | $17M | $-47M | $-47M | $-48M | $-38M | $-37M | $-33M | $-31M | $49M | $-42M | $-48M | $-40M | $-42M | |
| EPS (Basic) | $0.05 | $-0.20 | $-0.21 | $-0.21 | $-0.17 | $-0.16 | $-0.14 | $-0.14 | $0.22 | $-0.19 | $0.00 | $-0.21 | $-0.45 | |
| EPS (Diluted) | $-0.08 | $-0.20 | $-0.21 | $-0.21 | $-0.17 | $-0.16 | $-0.14 | $-0.14 | $0.22 | $-0.19 | $0.00 | $-0.21 | $-0.45 | |
| Shares (Basic) | 320,014,255 | 234,137,364 | -453,555,862 | 227,981,475 | 227,275,466 | 226,818,051 | -452,074,480 | 226,346,058 | 226,221,202 | 225,735,236 | -230,578,762 | 192,883,209 | 95,446,929 | |
| Shares (Diluted) | 328,776,495 | 234,137,364 | -453,555,862 | 227,981,475 | 227,275,466 | 226,818,051 | -464,396,380 | 226,346,058 | 238,543,102 | 225,735,236 | -230,578,762 | 192,883,209 | 95,446,929 | |
| EBITDA | $-26M | $-45M | · | $-49M | $-39M | $-37M | · | $-34M | $52M | $-42M | · | $-40M | $-46M |
Balance Sheet 23
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $41M | $41M | $38M | $9M | $26M | $29M | $46M | $28M | $87M | $39M | · | $83M | $37M | |
| Short-term Investments | $16M | $58M | $99M | $171M | $187M | $229M | $248M | $299M | $268M | $206M | · | $246M | $125M | |
| Receivables | $6M | $9M | $12M | $9M | $8M | $7M | $5M | $7M | $4M | · | · | · | · | |
| Prepaid Expense | $10M | $16M | $18M | $15M | $15M | $11M | $10M | $11M | $13M | $11M | · | $13M | $11M | |
| Current Assets | $73M | $125M | $168M | $204M | $236M | $275M | $310M | $344M | $371M | $255M | · | $341M | $173M | |
| PP&E (Net) | $55.0K | $59.0K | $64.0K | $70.0K | $76.0K | $29.0K | $10.0K | $302.0K | $824.0K | $1M | · | $2M | $3M | |
| PP&E (Gross) | · | · | $271.0K | · | · | · | $193.0K | $4M | $6M | $6M | · | $7M | $10M | |
| Accum. Depreciation | · | · | $207.0K | · | · | · | $183.0K | $4M | $6M | $5M | · | $5M | $7M | |
| Other Non-current Assets | $429.0K | $398.0K | $408.0K | $407.0K | $383.0K | $310.0K | $283.0K | $283.0K | $59.0K | $613.0K | · | $649.0K | $770.0K | |
| Total Assets | $77M | $129M | $172M | $209M | $241M | $281M | $315M | $351M | $373M | $259M | · | $348M | $182M | |
| Accounts Payable | $6M | $11M | $6M | $1M | $2M | $3M | $2M | $3M | $1M | $3M | · | $1M | $2M | |
| Accrued Liabilities | $18M | $20M | $16M | $19M | $13M | $12M | $15M | $17M | $16M | $15M | · | $17M | $14M | |
| Current Liabilities | $138M | $57M | $63M | $62M | $54M | $48M | $45M | $51M | $45M | $36M | · | $42M | $40M | |
| Capital Leases | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $5M | $0 | $0 | · | $992.0K | $2M | |
| Total Liabilities | $171M | $290M | $295M | $291M | $287M | $287M | $286M | $297M | $292M | $233M | · | $243M | $245M | |
| Long-term Debt | · | · | · | · | · | · | · | $0 | $0 | $10M | · | $15M | $18M | |
| Total Debt | · | · | · | · | · | · | · | $0 | $0 | $10M | · | $15M | $18M | |
| Common Stock | $50.0K | $24.0K | $24.0K | $24.0K | $23.0K | $23.0K | $23.0K | $23.0K | $23.0K | $23.0K | · | $23.0K | $10.0K | |
| Retained Earnings | $-1.47B | $-1.49B | $-1.44B | $-1.39B | $-1.34B | $-1.31B | $-1.27B | $-1.24B | $-1.20B | $-1.25B | · | $-1.16B | $-1.12B | |
| AOCI | $-4M | $-4M | $-5M | $-5M | $-5M | $-824.0K | $1M | $-2M | $-518.0K | $-628.0K | · | $-618.0K | $-481.0K | |
| Stockholders' Equity | $-94M | $-161M | $-123M | $-82M | $-46M | $-6M | $29M | $54M | $82M | $27M | $63M | $105M | $-63M | |
| Liabilities + Equity | $77M | $129M | $172M | $209M | $241M | $281M | $315M | $351M | $373M | $259M | · | $348M | $182M | |
| Shares Outstanding | 488,846,723 | 234,696,282 | 233,677,057 | 231,306,125 | 227,322,528 | 227,221,262 | 226,604,138 | 226,604,138 | 226,227,259 | 226,218,653 | 225,409,315 | 225,409,315 | 95,452,703 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | $5.0K | $6.0K | $6.0K | $6.0K | $6.0K | $74.0K | $200.0K | $300.0K | $259.0K | $242.0K | $400.0K | $500.0K | |
| Stock-based Comp | $2M | $6M | $3M | $3M | $3M | $2M | $5M | $5M | $5M | $6M | $6M | $6M | $8M | |
| Other Non-cash | · | $2M | · | · | · | $-5M | · | · | · | $-16M | · | · | · | |
| Operating Cash Flow | $-39M | $-39M | $-48M | $-36M | $-47M | $-40M | $-35M | $-32M | $116M | $-52M | $-33M | $-34M | $-38M | |
| CapEx | $0 | $0 | $0 | $0 | $53.0K | $26.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Investing Cash Flow | $43M | $42M | $73M | $17M | $44M | $22M | $53M | $-27M | $-59M | $62M | $-14M | $-118M | $13M | |
| Net Debt Issued | · | · | · | · | · | $0 | · | · | · | $-3M | · | · | · | |
| Financing Cash Flow | $-3M | $512.0K | $4M | $2M | $94.0K | $504.0K | $0 | $281.0K | $-9M | $-3M | $-3M | $198M | $-3M | |
| Net Change in Cash | $120.0K | $3M | $29M | $-17M | $-3M | $-17M | $18M | $-58M | $48M | $7M | $-50M | $46M | $-28M | |
| Free Cash Flow | · | $-39M | · | · | · | $-40M | · | · | · | · | · | · | · |
Profitability 7
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -282.2% | -264.6% | · | -369.4% | -337.4% | -372.2% | · | -357.8% | 54.4% | · | · | · | · | |
| Net Margin | 182.9% | -275.2% | · | -362.7% | -333.1% | -370.5% | · | -324.9% | 51.4% | · | · | · | · | |
| Pretax Margin | · | · | · | -362.7% | -333.1% | · | · | -336.9% | 56.0% | · | · | · | · | |
| EBITDA Margin | -282.2% | -264.6% | · | -369.4% | -337.4% | -372.2% | · | -355.7% | 54.7% | · | · | · | · | |
| ROA | 10.6% | -22.8% | · | -17.2% | -12.5% | -13.6% | · | -8.8% | 17.7% | -17.5% | · | -11.9% | -19.9% | |
| ROE | -24.1% | 55.6% | · | 342.0% | -216.1% | -357.9% | · | -38.8% | 525.7% | 4836.0% | · | -49.7% | 107.2% | |
| ROIC | · | · | · | 59.7% | 84.1% | · | · | -60.4% | 58.6% | · | · | · | · |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.5 | 2.2 | · | 3.3 | 4.4 | 5.7 | · | 6.7 | 8.2 | 7.1 | · | 8.1 | 4.3 | |
| Quick Ratio | 0.5 | 1.9 | · | 3.1 | 4.1 | 5.5 | · | 6.5 | 7.9 | 6.8 | · | 7.8 | 4.0 | |
| Debt / Equity | · | · | · | · | · | · | · | 0.0 | 0.0 | 0.4 | · | 0.1 | -0.3 | |
| LT Debt / Equity | · | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | -0.1 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -13.4 | · | -12.1 | -13.5 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.3 | · | · | · | · | |
| Receivables Turnover | 1.4 | 2.1 | · | 1.7 | 2.1 | 3.0 | · | 2.9 | 52.8 | · | · | · | · |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $51M | $52M | · | $44M | $127M | $115M | · | $105M | $96M | · | · | · | · | |
| Net Income TTM | $-116M | $-170M | · | $-154M | $-56M | $-60M | · | $-64M | $-75M | $-174M | · | $-191M | $-207M | |
| Market Cap | $81M | $77M | · | $608M | $280M | $250M | · | $223M | $204M | $267M | · | $188M | $115M | |
| Enterprise Value | · | · | · | · | · | · | · | $-104M | $-151M | $32M | · | $-126M | $-30M | |
| P/E | -0.2 | -0.4 | · | -3.9 | -4.9 | -4.1 | · | -3.1 | -1.4 | -0.9 | · | -0.5 | -0.5 | |
| P/S | 1.6 | 1.5 | · | 13.8 | 2.2 | 2.2 | · | 2.1 | 2.1 | · | · | · | · | |
| P/B | -0.9 | -0.5 | · | -7.4 | -6.1 | -40.0 | · | 4.1 | 2.5 | 10.0 | · | 1.8 | -1.8 | |
| P / Tangible Book | · | · | · | · | · | · | · | 4.1 | 2.5 | 10.0 | · | 1.8 | · | |
| P / Cash Flow | · | -2.0 | · | · | · | -6.3 | · | · | · | -5.1 | · | · | · | |
| P / FCF | · | -2.0 | · | · | · | -6.3 | · | · | · | · | · | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | 3.1 | -2.9 | -0.8 | · | 3.1 | 0.6 | |
| EV / Revenue | · | · | · | · | · | · | · | -1.0 | -1.6 | · | · | · | · | |
| Earnings Yield | -400.0% | -224.9% | · | -25.9% | -20.3% | -24.6% | · | -32.5% | -69.9% | -116.1% | · | -219.7% | -196.7% |
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 | $48M | $115M | $0 | $0 | — |
| Operating Margin % | -352.2% | -52.2% | — | — | — |
| Net Income | $-170M | $-57M | $-180M | $-229M | $-234M |
| Diluted EPS | $-0.75 | $-0.25 | $-1.18 | $-2.71 | $-3.13 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | 0.0 | 0.2 | 2.0 | 0.2 |
| Current Ratio | 2.6 | 6.9 | 5.9 | 5.3 | 8.3 |
| Quick Ratio | 2.4 | 6.7 | 5.7 | 5.2 | 8.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-171M | $-3M | $-159M | $-187M | $-190M |
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Institutional owners (13F) 185 filers · $66.8M 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 |
|---|---|---|---|---|
| 32 (-18 vs prior Q) | 45 (-7 vs prior Q) | 62 (-10 vs prior Q) | 40 (-11 vs prior Q) | +220.2M |
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 |
|---|---|---|---|---|
| TWO SIGMA ADVISERS, LP | $8,050,390 | 2,596,900 | 12.05% | Shares |
| D. E. Shaw & Co., Inc. | $6,677,798 | 40,569,854 | 9.99% | Shares |
| 683 Capital Management, LLC | $6,452,134 | 39,198,868 | 9.66% | Shares |
| Context Capital Management, LLC | $4,764,587 | 28,946,459 | 7.13% | Shares |
| DeepCurrents Investment Group LLC | $4,423,382 | 27,646,139 | 6.62% | Shares |
| VANGUARD GROUP INC | $4,365,798 | 1,408,322 | 6.53% | Shares |
| Worth Venture Partners, LLC | $4,117,943 | 25,017,881 | 6.16% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $2,547,082 | 15,474,373 | 3.81% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $2,122,475 | 12,894,746 | 3.18% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,914,281 | 11,629,896 | 2.86% | Shares |
| Kalehua Capital Management LLC | $1,835,185 | 11,149,363 | 2.75% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,553,644 | 9,416,023 | 2.32% | Shares |
| ARCH Venture Management, LLC | $1,326,004 | 8,055,916 | 1.98% | Shares |
| Octagon Capital Advisors LP | $1,275,650 | 7,750,000 | 1.91% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $1,246,580 | 7,573,388 | 1.87% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,223,307 | 7,432,001 | 1.83% | Shares |
| SAMSARA BIOCAPITAL, LLC | $1,188,833 | 7,222,559 | 1.78% | Shares |
| Qube Research & Technologies Ltd | $1,163,023 | 7,065,756 | 1.74% | Shares |
| Corient Private Wealth LP | $925,959 | 5,625,509 | 1.39% | Shares |
| Siren, L.L.C. | $857,396 | 5,208,968 | 1.28% | Shares |
| HHLR ADVISORS, LTD. | $818,727 | 4,974,041 | 1.23% | Shares |
| Cubist Systematic Strategies, LLC | $428,125 | 162,785 | 0.64% | Shares |
| Squarepoint Ops LLC | $420,780 | 2,556,378 | 0.63% | Shares |
| MILLENNIUM MANAGEMENT LLC | $395,473 | 2,402,633 | 0.59% | Shares |
| MB Generational Wealth, LLC | $364,992 | 2,217,451 | 0.55% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $360,046 | 2,187,402 | 0.54% | Shares |
| MARSHALL WACE, LLP | $338,399 | 2,114,988 | 0.51% | Shares |
| Alyeska Investment Group, L.P. | $337,667 | 2,051,442 | 0.51% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $335,208 | 2,035,079 | 0.50% | Shares |
| WOLVERINE TRADING, LLC | $278,052 | 98,600 | 0.42% | Call option |
| HSBC HOLDINGS PLC | $267,389 | 1,583,118 | 0.40% | Shares |
| Ensign Peak Advisors, Inc | $238,831 | 1,450,979 | 0.36% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $205,490 | 1,245,392 | 0.31% | Shares |
| JPMORGAN CHASE & CO | $196,493 | 1,198,131 | 0.29% | Shares |
| DEUTSCHE BANK AG\ | $188,095 | 1,106,441 | 0.28% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $187,488 | 1,171,800 | 0.28% | Call option |
| STATE STREET CORP | $183,483 | 1,114,718 | 0.27% | Shares |
| UBS Group AG | $165,845 | 1,005,123 | 0.25% | Shares |
| NEA Management Company, LLC | $164,600 | 1,000,000 | 0.25% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $163,370 | 992,527 | 0.24% | Shares |
| SMITH, MOORE & CO. | $148,140 | 900,000 | 0.22% | Shares |
| BlackRock, Inc. | $143,013 | 868,851 | 0.21% | Shares |
| Ishara Investments LP | $134,972 | 820,000 | 0.20% | Shares |
| Merriman Wealth Management, LLC | $128,697 | 142,269 | 0.19% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $120,687 | 733,216 | 0.18% | Shares |
| GOLDMAN SACHS GROUP INC | $118,082 | 717,387 | 0.18% | Shares |
| CWM, LLC | $105,118 | 319,995 | 0.16% | Shares |
| IEQ CAPITAL, LLC | $97,321 | 591,254 | 0.15% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $89,795 | 544,212 | 0.13% | Shares |
| CHOREO, LLC | $88,902 | 540,111 | 0.13% | Shares |
| TUDOR INVESTMENT CORP ET AL | $78,939 | 479,581 | 0.12% | Shares |
| NORTHERN TRUST CORP | $75,366 | 457,873 | 0.11% | Shares |
| Invesco Ltd. | $72,797 | 442,268 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $63,050 | 383,049 | 0.09% | Shares |
| BANK OF AMERICA CORP /DE/ | $57,875 | 352,896 | 0.09% | Shares |
| LPL Financial LLC | $54,735 | 332,534 | 0.08% | Shares |
| FULLCIRCLE WEALTH LLC | $50,830 | 22,100 | 0.08% | Shares |
| BARCLAYS PLC | $50,693 | 307,977 | 0.08% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $49,028 | 297,863 | 0.07% | Shares |
| WADDELL & ASSOCIATES, LLC | $43,092 | 261,798 | 0.06% | Shares |
| SHERBROOKE PARK ADVISERS LLC | $41,376 | 13,347 | 0.06% | Shares |
| CIBC WORLD MARKETS CORP | $39,407 | 12,712 | 0.06% | Shares |
| PRUDENTIAL FINANCIAL INC | $37,455 | 227,550 | 0.06% | Shares |
| ADAR1 Capital Management, LLC | $34,983 | 212,531 | 0.05% | Shares |
| Creative Planning | $34,888 | 211,955 | 0.05% | Shares |
| WOLVERINE TRADING, LLC | $33,256 | 11,793 | 0.05% | Shares |
| Callan Capital, LLC | $31,500 | 30,000 | 0.05% | Call option |
| EVENTIDE ASSET MANAGEMENT, LLC | $26,804 | 163,440 | 0.04% | Shares |
| CITADEL ADVISORS LLC | $25,776 | 156,600 | 0.04% | Call option |
| Sivia Capital Partners, LLC | $25,068 | 152,298 | 0.04% | Shares |
| HighTower Advisors, LLC | $23,761 | 144,358 | 0.04% | Shares |
| JANE STREET GROUP, LLC | $22,221 | 135,000 | 0.03% | Call option |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $21,955 | 153,902 | 0.03% | Shares |
| Schonfeld Strategic Advisors LLC | $21,871 | 132,888 | 0.03% | Shares |
| FMR LLC | $21,451 | 130,325 | 0.03% | Shares |
| OSAIC HOLDINGS, INC. | $19,232 | 120,204 | 0.03% | Shares |
| GROUP ONE TRADING LLC | $18,259 | 110,927 | 0.03% | Shares |
| Arax Advisory Partners | $17,810 | 108,204 | 0.03% | Shares |
| BCV Asset Management Inc. | $17,502 | 106,500 | 0.03% | Shares |
| Balyasny Asset Management L.P. | $17,157 | 104,232 | 0.03% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $16,790 | 101,993 | 0.03% | Shares |
| Quarry LP | $16,460 | 100,000 | 0.02% | Shares |
| Focus Partners Wealth | $15,283 | 92,848 | 0.02% | Shares |
| RHUMBLINE ADVISERS | $14,618 | 88,599 | 0.02% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $13,461 | 81,778 | 0.02% | Shares |
| Vanguard Global Advisers, LLC | $13,148 | 79,682 | 0.02% | Shares |
| Tower Research Capital LLC (TRC) | $12,856 | 78,107 | 0.02% | Shares |
| CITADEL ADVISORS LLC | $12,180 | 74,000 | 0.02% | Put option |
| BNP PARIBAS FINANCIAL MARKETS | $12,130 | 73,693 | 0.02% | Shares |
| Caprock Group, LLC | $11,522 | 70,000 | 0.02% | Shares |
| Velan Capital Investment Management LP | $11,522 | 70,000 | 0.02% | Shares |
| AlphaCore Capital LLC | $11,437 | 69,482 | 0.02% | Shares |
| Bronte Capital Management Pty Ltd. | $11,152 | 67,754 | 0.02% | Shares |
| TWO SIGMA SECURITIES, LLC | $9,557 | 58,064 | 0.01% | Shares |
| Beacon Pointe Advisors, LLC | $9,198 | 28,000 | 0.01% | Shares |
| Integrated Wealth Concepts LLC | $9,140 | 55,533 | 0.01% | Shares |
| Bull Harbor Capital LLC | $8,433 | 51,235 | 0.01% | Shares |
| Cerity Partners LLC | $7,668 | 46,578 | 0.01% | Shares |
| Bank of New York Mellon Corp | $7,524 | 45,712 | 0.01% | Shares |
| Y-Intercept (Hong Kong) Ltd | $7,112 | 43,210 | 0.01% | Shares |
Company insiders 16 insiders · 5 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Sheila Gujrathi | President & CEO | Feb. 14, 2020 A | 189,500 | 0 | 0 | $0 |
| Bryan Giraudo | Chief Financial Officer | Oct. 14, 2020 P | 7,121 | 0 | 0 | $0 |
| Waage Christian | EVP & General Counsel | Oct. 14, 2020 P | 6,954 | 0 | 0 | $0 |
| Luisa Salter-Cid | Chief Scientific Officer | Feb. 14, 2020 A | 166,556 | 0 | 0 | $0 |
| Jakob Dupont | Chief Medical Officer | Feb. 14, 2020 A | 46,500 | 0 | 0 | $0 |
| Steven D Nathan | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Skye Drynan | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Sandra Milligan | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| John D Quisel | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Thomas O Daniel | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Russell J. Cox | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Joshua H. Bilenker | Director | June 17, 2020 A | — | 0 | 0 | $0 |
| Renee D Gala | Director | June 17, 2020 A | — | 0 | 0 | $0 |
| Kristina Burow | Director | June 17, 2020 A | 4,027,958 | 0 | 0 | $0 |
| Otello Stampacchia | Director | June 10, 2019 A | — | 0 | 0 | $0 |
| Faheem Hasnain | — | March 19, 2026 A | 837,793 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 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 |
|---|---|---|---|---|---|
| D. E. Shaw Valence Portfolios, L.L.C., D. E. Shaw & Co., L.L.C., D. E. Shaw & Co., L.P., David E. Shaw ×3 filings | July 24, 2026 | 7.10% | Amendment | — | SEC |
| Growth Equity Opportunities 18 VGE, LLC, NEA 18 Venture Growth Equity, L.P., NEA Partners 18 VGE, L.P., NEA 18 VGE GP, LLC, Ali Behbahani, Carmen Chang, Anthony A. Florence, Jr., Mohamad H. Makhzoumi, Edward T. Mathers, Scott D. Sandell, Paul Walker, Rick Yang ×2 filings | Feb. 24, 2026 | 1.70% | 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 16 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 |
|---|---|---|---|---|
| BBC · ETFis Series Trust I | 0.08% | 76,668 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.01% | 7,476 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.01% | 3,283,110 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.00% | 556,071 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.00% | 12,640 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.00% | 8,555 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 84,618 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 9,043 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.00% | 986,826 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 7,072 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 7,146 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 7,222 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 180 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 2,243,305 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 6,910,934 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.00% | 544,212 SH | Aug. 8, 2026 | Daily |