GOVX GeoVax Labs, Inc. - Common Stock
$0.61
Price · Aug 19, 2026
Fundamentals as of Jul 27, 2026
52W Range
$0–$4
11% of range
Analyst Rating
BUY
8 analysts
Price Target
$10
+1547% upside
P/E (TTM)
—
ROE
-645.9%
Net Profit Margin
-862.3%
GOVX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.61
Market Cap
$1M
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
$2M
Div Yield
—
ROE
-645.9%
Debt/Equity
—
52W Range
$0 – $4
GOVX 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
$2M
2016-12-31
→
2025-12-31
EPS
—
Free Cash Flow
$-22M
2017-12-31
→
2025-12-31
Margins
-862.3%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
GOVX
Peer Median
P/S (TTM)
0.4
2.4
P/B
0.3
1.0
Price / FCF
-0.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
GOVX
Peer Median
Operating Margin
-869.3%
—
Net Profit Margin
-862.3%
-313.2%
ROA
-296.1%
-105.1%
ROE
-645.9%
-142.1%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
GOVX
Peer Median
Current Ratio
2.7
1.6
Quick Ratio
1.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
GOVX
Peer Median
Revenue YoY
-37.1%
—
Revenue CAGR 3Y
212.6%
—
Revenue CAGR 5Y
6.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
GOVX
Peer Median
GOVX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
8 analysts
- Strong Buy 2 25.0%
- Buy 5 62.5%
- Hold 1 12.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
2 analysts · 2026-08-19
Low
$10.00
High
$10.00
Median target
$10.00
+1546.6%
Mean target
$10.00
+1546.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
3.9%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.97 | $-2.94 | 2.0% |
| March 31, 2026 | $-2.62 | $-4.51 | 1.9% |
| Dec. 31, 2025 | $-0.01 | $-6.29 | 6.3% |
| Sept. 30, 2025 | $-7.75 | $-6.76 | -0.99% |
| June 30, 2025 | $-8.75 | $-9.18 | 0.43% |
| March 31, 2025 | $-11.25 | $-17.00 | 5.8% |
| Dec. 31, 2024 | $-7.50 | $-19.58 | 12.1% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GOVX | $296.2K | — | -37.1% | -862.3% | -645.9% | — |
| PMCB | $8M | -0.3 | — | — | -56.7% | — |
| BRTX | $10M | -0.7 | -10.3% | -3959.4% | -547.6% | 93.4% |
| XBIO | — | -1.4 | 19.0% | — | — | — |
| DRMA | — | — | — | — | — | — |
| LABT | — | — | — | — | — | — |
| BCAB | — | -0.6 | — | — | — | — |
| TCRT | — | -1.5 | -50.0% | — | — | — |
| MBIO | — | -2.5 | — | — | -30.9% | — |
| APVO | $9M | -0.1 | — | — | -217.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2M | $4M | $0 | $81.5K | $385.5K | $2M | $1M | $963.2K | $1M | $828.9K | |
| R&D Expense | $18M | $24M | $21M | $9M | $16M | $2M | $2M | $2M | $2M | $2M | |
| SG&A Expense | $6M | $5M | $6M | $5M | $4M | $2M | $2M | $2M | $1M | $2M | |
| Operating Expenses | $24M | $29M | $27M | $14M | $19M | $5M | $4M | $4M | $3M | $4M | |
| Operating Income | $-22M | $-25M | $-27M | $-14M | $-19M | $-3M | $-2M | $-3M | $-2M | $-3M | |
| Interest Expense | · | · | · | $0 | $1.3K | $143.5K | $4.5K | $2.6K | · | · | |
| Interest Income | $174.3K | $173.4K | $776.2K | $7.4K | $4.7K | $2.3K | $6.4K | $5.2K | $4.3K | $1.7K | |
| Other Non-op | $174.3K | $152.0K | $776.2K | $7.4K | $175.5K | $-141.3K | $1.9K | $2.6K | $4.3K | $1.7K | |
| Income Tax | $0 | · | · | · | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-21M | $-25M | $-26M | $-14M | $-19M | $-3M | $-2M | $-3M | $-2M | $-3M | |
| EPS (Basic) | $-22.40 | $-120.46 | $-14.29 | $-12.39 | $-3.04 | · | · | · | · | · | |
| Shares (Basic) | 958,443 | 207,482 | 1,817,282 | 1,131,546 | 6,099,933 | · | · | · | · | · | |
| EBITDA | $-22M | $-25M | · | · | · | · | · | · | $-2M | $-3M |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3M | $6M | $6M | $28M | $11M | $10M | $283.3K | $259.7K | $312.7K | $454.0K | |
| Receivables | $0 | $659.4K | $0 | · | · | · | · | · | · | · | |
| Prepaid Expense | $2M | $2M | $1M | $1M | $156.2K | $168.7K | $95.3K | $238.2K | $75.6K | $62.3K | |
| Current Assets | $5M | $8M | $8M | $29M | $12M | $10M | $447.3K | $619.7K | $448.1K | $544.4K | |
| PP&E (Net) | $108.8K | $150.0K | $209.7K | $234.9K | $156.9K | $147.7K | $10.6K | $11.3K | $31.2K | $54.8K | |
| PP&E (Gross) | $512.4K | $911.0K | $890.4K | $841.4K | $707.2K | $659.4K | $661.9K | $674.6K | $674.6K | $670.2K | |
| Accum. Depreciation | $403.6K | $761.0K | $680.7K | $606.5K | $550.2K | $511.7K | $651.3K | $663.2K | $643.4K | $615.4K | |
| Other Non-current Assets | $86.9K | $71.0K | $1M | $2M | $11.0K | · | · | · | · | $11.0K | |
| Total Assets | $6M | $8M | $9M | $31M | $12M | $10M | $468.9K | $642.1K | $490.2K | $610.2K | |
| Accounts Payable | $790.8K | $2M | $3M | $2M | $2M | $267.7K | $152.7K | $125.9K | $77.6K | $75.6K | |
| Accrued Liabilities | $882.8K | $1M | $716.9K | $3M | $3M | $359.3K | $2M | $1M | $733.7K | $294.2K | |
| Short-term Debt | · | · | $0 | · | $0 | $183.3K | $12.5K | $260.4K | · | · | |
| Current Liabilities | $2M | $3M | $4M | $5M | $5M | $810.3K | $2M | $2M | $811.3K | $369.8K | |
| Capital Leases | $580.0K | $0 | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | · | · | · | $0 | $2M | · | · | · | · | · | |
| Total Liabilities | $3M | $3M | · | $5M | $7M | $825.0K | $2M | $2M | $811.3K | · | |
| Common Stock | $1.7K | $421 | $2.0K | $1.8K | $6.4K | $3.8K | $15 | · | $106.7K | $55.2K | |
| Retained Earnings | $-151M | $-129M | $-104M | $-78M | $-64M | $-46M | $-43M | $-40M | $-38M | $-36M | |
| Stockholders' Equity | $4M | $5M | $6M | $27M | $4M | $10M | $-2M | $-1M | $-321.1K | $240.4K | |
| Liabilities + Equity | $6M | $8M | $9M | $31M | $12M | $10M | $468.9K | $642.1K | $490.2K | $610.2K | |
| Shares Outstanding | 1,732,147 | 421,475 | 1,977,152 | 1,755,664 | 6,381,541 | 3,834,095 | 14,992 | 219 | 106,736,810 | 55,235,233 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $68.8K | $95.4K | $74.2K | $56.3K | $38.5K | $19.7K | $8.3K | $19.8K | $28.0K | $28.8K | |
| Stock-based Comp | $1M | $528.6K | $1M | $902.1K | $370.0K | $64.5K | $327.5K | $469.7K | $57.2K | $967.7K | |
| Other Non-cash | $-1M | $-307.2K | · | · | · | · | · | · | $396.4K | $329.1K | |
| Operating Cash Flow | $-21M | $-25M | $-25M | $-19M | $-11M | $-3M | $-1M | $-2M | $-2M | $-2M | |
| CapEx | $27.6K | $20.7K | $48.9K | $134.3K | $47.7K | $156.8K | $7.6K | · | $4.3K | · | |
| Investing Cash Flow | $-27.6K | $-20.7K | $-48.9K | $-134.3K | $-47.7K | $-156.8K | $-7.6K | · | $-4.3K | · | |
| Stock Issued | · | · | · | · | · | · | · | · | $571.5K | $1M | |
| Net Stock Activity | · | · | · | · | · | · | · | · | $571.5K | $1M | |
| Financing Cash Flow | $19M | $24M | $4M | $35M | $13M | $13M | $1M | $1M | $2M | $1M | |
| Net Change in Cash | $-2M | $-945.6K | $-21M | $16M | $2M | $10M | $23.6K | $-53.0K | $-141.3K | $-606.3K | |
| Free Cash Flow | $-22M | $-25M | · | · | · | · | · | · | $-2M | · |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -869.3% | -635.8% | · | · | · | · | · | · | · | · | |
| Net Margin | -862.3% | -632.0% | · | · | · | · | · | · | · | · | |
| EBITDA Margin | -866.6% | -633.4% | · | · | · | · | · | · | · | · | |
| ROA | -296.1% | -286.6% | · | · | · | · | · | · | -394.4% | -337.0% | |
| ROE | -645.9% | -368.8% | · | · | · | · | · | · | 5379.2% | -452.8% |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.7 | 2.6 | · | · | · | · | · | · | 0.6 | 1.5 | |
| Quick Ratio | 1.6 | 2.0 | · | · | · | · | · | · | 0.4 | 1.2 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.5 | · | · | · | · | · | · | · | · | |
| Receivables Turnover | 7.5 | 12.0 | · | · | · | · | · | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -37.1% | · | · | -78.8% | -78.9% | · | · | · | · | · | |
| Revenue CAGR 3Y | 212.6% | 117.3% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 6.4% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2M | $4M | $0 | $81.5K | $385.5K | $2M | $1M | $963.2K | $1M | $828.9K | |
| Net Income TTM | $-21M | $-25M | $-26M | $-14M | $-19M | $-3M | $-2M | $-3M | $-2M | $-3M | |
| Market Cap | $296.2K | $26M | · | · | · | · | · | · | · | · | |
| P/S | 0.1 | 6.6 | · | · | · | · | · | · | · | · | |
| P/B | 0.1 | 5.2 | · | · | · | · | · | · | · | · | |
| P / Tangible Book | 0.1 | 5.2 | 1.9 | 9.4 | 79.4 | 20.3 | · | · | · | · | |
| P / Cash Flow | -0.0 | -1.1 | · | · | · | · | · | · | · | · | |
| P / FCF | -0.0 | -1.1 | · | · | · | · | · | · | · | · |
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 | $0 | $0 | $0 | $0 | $852.3K | $2M | $864.4K | $3M | $300.7K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| R&D Expense | $3M | $4M | $3M | $5M | $5M | $5M | $8M | $7M | $4M | $4M | $6M | $7M | $5M | $3M | $4M | $3M | |
| SG&A Expense | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $2M | $1M | $1M | $2M | $1M | |
| Operating Expenses | $4M | $5M | $4M | $6M | $6M | $7M | $9M | $9M | $5M | $6M | $8M | $9M | $6M | $4M | $5M | $4M | |
| Operating Income | $-4M | $-5M | $-4M | $-6M | $-5M | $-5M | $-8M | $-6M | $-5M | $-6M | $-8M | $-9M | $-6M | $-4M | $-5M | $-4M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Interest Income | $15.5K | $11.0K | $23.3K | $54.3K | $49.1K | $47.5K | $81.7K | $53.2K | $5.5K | $32.9K | $101.3K | $190.9K | $251.2K | $232.7K | $3.7K | $2.4K | |
| Other Non-op | · | · | $23.3K | $54.3K | $49.1K | · | $81.7K | $39.1K | $-1.8K | · | $101.3K | $190.9K | $251.2K | · | · | $2.4K | |
| Income Tax | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | · | · | · | · | |
| Net Income | $-4M | $-5M | $-4M | $-6M | $-5M | $-5M | $-8M | $-6M | $-5M | $-6M | $-8M | $-8M | $-6M | $-4M | $-5M | $-4M | |
| EPS (Basic) | $-0.97 | $-2.62 | $-21.29 | $-0.31 | $-8.74 | $-11.20 | $-115.09 | $-0.91 | $-1.99 | $-2.47 | $-3.45 | $-4.75 | $-3.79 | $-2.30 | $-11.70 | $-0.17 | |
| Shares (Basic) | 4,565,207 | 2,008,134 | -46,642,777 | 20,287,203 | 614,369 | 478,192 | -11,104,243 | 6,404,797 | 2,539,878 | 2,367,050 | -3,271,137 | 1,769,604 | 1,562,910 | 1,755,905 | -42,161,288 | 23,461,665 | |
| EBITDA | $-4M | $-5M | · | $-6M | $-5M | $-5M | · | $-6M | $-5M | $-6M | · | $-9M | $-6M | $-4M | · | $-4M |
Balance Sheet 22
| 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 | $3M | $1M | $3M | $5M | $3M | $7M | $6M | $9M | $2M | $768.9K | $6M | $13M | $18M | $24M | $28M | $35M | |
| Receivables | · | · | $0 | $0 | $532.8K | $1M | $659.4K | $547.6K | $300.7K | · | $0 | · | · | · | · | · | |
| Prepaid Expense | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $2M | $2M | $1M | $1M | |
| Current Assets | $4M | $2M | $5M | $7M | $5M | $11M | $8M | $11M | $4M | $3M | $8M | $15M | $20M | $26M | $29M | $36M | |
| PP&E (Net) | $84.7K | $96.8K | $108.8K | $127.1K | $143.9K | $149.9K | $150.0K | $171.6K | $170.5K | $190.1K | $209.7K | $213.0K | $224.1K | $217.6K | $234.9K | $249.0K | |
| PP&E (Gross) | · | · | $512.4K | $938.6K | $938.6K | $927.9K | $911.0K | $911.0K | $890.4K | $890.4K | $890.4K | $871.4K | $865.2K | $841.4K | $841.4K | $841.4K | |
| Accum. Depreciation | $427.8K | $415.7K | $403.6K | $811.6K | $794.8K | $778.0K | $761.0K | $739.4K | $719.8K | $700.2K | $680.7K | $658.5K | $641.1K | $623.8K | $606.5K | $592.4K | |
| Other Non-current Assets | $69.9K | $69.9K | $86.9K | $86.9K | $71.0K | $71.0K | $71.0K | $71.0K | $81.0K | $305.7K | $1M | $1M | $1M | $1M | $2M | $2M | |
| Total Assets | $5M | $3M | $6M | $7M | $5M | $11M | $8M | $11M | $4M | $3M | $9M | $16M | $21M | $27M | $31M | $39M | |
| Accounts Payable | $2M | $1M | $790.8K | $976.4K | $2M | $2M | $2M | $2M | $4M | $2M | $3M | $4M | $871.1K | $1M | $2M | $1M | |
| Accrued Liabilities | $724.7K | $663.2K | $882.8K | $847.8K | $699.1K | $532.3K | $1M | $460.2K | $2M | $1M | $716.9K | $3M | $3M | $3M | $3M | $4M | |
| Short-term Debt | · | · | · | · | · | · | · | · | $142.3K | · | · | · | · | · | · | · | |
| Current Liabilities | $3M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $6M | $3M | $4M | $7M | $4M | $5M | $5M | $5M | |
| Capital Leases | $169.6K | $197.1K | $580.0K | · | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $2M | |
| Total Liabilities | $3M | $2M | $3M | · | · | · | $3M | · | · | · | · | · | · | · | · | $7M | |
| Total Debt | · | · | · | · | · | · | · | · | $142.3K | · | · | · | · | · | · | · | |
| Common Stock | $7.4K | $2.8K | $1.7K | $29.7K | $15.9K | $13.8K | $421 | $8.6K | $4.2K | $2.3K | $2.0K | $26.7K | $26.4K | $26.4K | $1.8K | $26.3K | |
| Retained Earnings | $-161M | $-156M | $-151M | $-146M | $-140M | $-135M | $-129M | $-121M | $-115M | $-110M | $-104M | $-97M | $-88M | $-82M | $-78M | $-73M | |
| Stockholders' Equity | $2M | $493.8K | $4M | $5M | $3M | $8M | $5M | $9M | $-2M | $54.3K | $6M | $9M | $17M | $23M | $27M | $32M | |
| Liabilities + Equity | $5M | $3M | $6M | $7M | $5M | $11M | $8M | $11M | $4M | $3M | $9M | $16M | $21M | $27M | $31M | $39M | |
| Shares Outstanding | 7,369,243 | 2,818,570 | 1,732,147 | 29,705,360 | 15,924,593 | 13,839,478 | 421,475 | 8,609,308 | 4,178,700 | 2,308,309 | 1,977,152 | 26,695,287 | 26,443,649 | 26,443,649 | 1,755,664 | 26,334,953 |
Cash Flow 9
| 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 | $12.1K | $12.1K | $18.2K | $16.8K | $16.8K | $16.9K | $21.6K | $30.4K | $23.7K | $19.6K | $22.2K | $17.3K | $17.3K | $17.3K | $14.1K | $17.7K | |
| Stock-based Comp | $163.7K | $219.3K | $252.1K | $277.5K | $292.7K | $292.7K | $139.3K | $129.9K | $101.6K | $157.7K | $261.5K | $297.9K | $269.5K | $246.0K | $251.2K | $238.6K | |
| Other Non-cash | · | $1M | · | · | · | $-917.7K | · | · | · | $-10.9K | · | · | · | $11.7K | · | · | |
| Operating Cash Flow | $-4M | $-4M | $-5M | $-6M | $-4M | $-6M | $-8M | $-9M | $-2M | $-6M | $-10M | $-5M | $-6M | $-4M | $-7M | $-4M | |
| CapEx | $0 | $0 | $0 | $0 | $10.7K | $16.9K | $0 | $20.7K | $0 | $0 | $18.9K | $6.2K | $23.8K | $0 | $0 | $51.9K | |
| Investing Cash Flow | $0 | $0 | $0 | $0 | $-10.7K | $-16.9K | $0 | $-20.7K | $0 | $0 | $-18.9K | $-6.2K | $-23.8K | $0 | $0 | $-51.9K | |
| Financing Cash Flow | $6M | $2M | $3M | $8M | $209 | $8M | $5M | $16M | $3M | $0 | $4M | $0 | $0 | $0 | $0 | $8M | |
| Net Change in Cash | $2M | $-2M | $-2M | $2M | $-4M | $2M | $-3M | $7M | $792.9K | $-6M | $-6M | $-5M | $-6M | $-4M | $-7M | $4M | |
| Free Cash Flow | · | $-4M | · | · | · | $-6M | · | · | · | · | · | · | · | $-4M | · | · |
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 | · | · | · | · | -635.8% | -330.2% | · | -209.9% | -1683.6% | · | · | · | · | · | · | · | |
| Net Margin | · | · | · | · | -630.1% | -327.3% | · | -208.5% | -1684.2% | · | · | · | · | · | · | · | |
| EBITDA Margin | · | · | · | · | -635.8% | -329.2% | · | -209.9% | -1683.6% | · | · | · | · | · | · | · | |
| ROA | -88.6% | -76.2% | · | -70.8% | -113.7% | -75.5% | · | -42.6% | -40.0% | -38.0% | · | -30.7% | -21.8% | -18.2% | · | -14.0% | |
| ROE | -193.2% | -125.4% | · | -94.2% | -2097.7% | -134.7% | · | -66.0% | -68.2% | -51.0% | · | -41.1% | -26.3% | -23.6% | · | -15.9% |
Liquidity & Solvency 3
| 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 | 1.5 | 1.1 | · | 3.6 | 2.0 | 3.6 | · | 4.2 | 0.6 | 0.9 | · | 2.1 | 4.9 | 5.7 | · | 7.5 | |
| Quick Ratio | 1.2 | 0.6 | · | 2.7 | 1.4 | 3.0 | · | 3.5 | 0.3 | 0.2 | · | 1.8 | 4.4 | 5.3 | · | 7.2 | |
| Debt / Equity | · | · | · | · | · | · | · | · | -0.1 | · | · | · | · | · | · | · |
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 | 0.2 | 0.2 | · | 0.2 | 0.0 | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | · | · | · | 0.0 | 2.0 | 2.2 | · | 10.2 | 2.0 | · | · | · | · | · | · | · |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $852.3K | $2M | · | $5M | $6M | $5M | · | $3M | $300.7K | $0 | · | $0 | $0 | $81.5K | · | $111.9K | |
| Net Income TTM | $-21M | $-22M | · | $-23M | $-22M | $-22M | · | $-25M | $-25M | $-24M | · | $-22M | $-16M | $-13M | · | $-11M | |
| Market Cap | $9M | $4M | · | $14M | $14M | $15M | · | $21M | $13M | $5M | · | $206M | $218M | $264M | · | $431M | |
| Enterprise Value | · | · | · | · | · | · | · | · | $12M | · | · | · | · | · | · | · | |
| P/S | 11.0 | 1.6 | · | 2.7 | 2.5 | 3.1 | · | 6.7 | 44.3 | · | · | · | · | 3235.5 | · | 3846.5 | |
| P/B | 5.3 | 7.9 | · | 2.9 | 4.9 | 1.9 | · | 2.4 | -5.8 | 85.1 | · | 22.6 | 12.7 | 11.5 | · | 13.5 | |
| P / Tangible Book | 5.3 | 7.9 | · | 2.9 | 4.9 | 1.9 | · | 2.4 | · | 85.1 | · | 22.6 | 12.7 | 11.5 | · | 13.5 | |
| P / Cash Flow | · | -1.1 | · | · | · | -2.5 | · | · | · | -0.8 | · | · | · | -70.1 | · | · | |
| P / FCF | · | -1.1 | · | · | · | -2.5 | · | · | · | · | · | · | · | -70.1 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | -2.3 | · | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | 39.5 | · | · | · | · | · | · | · |
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 | $2M | $4M | $0 | $81.5K | $385.5K |
| Operating Margin % | -869.3% | -635.8% | — | — | — |
| Net Income | $-21M | $-25M | $-26M | $-14M | $-19M |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.7 | 2.6 | — | — | — |
| Quick Ratio | 1.6 | 2.0 | — | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-22M | $-25M | — | — | — |
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Institutional owners (13F) 19 filers · $289K 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 |
|---|---|---|---|---|
| 8 | 4 | 2 | 5 | — |
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. Change vs prior quarter not shown: filer coverage differs too much between these two quarters for a reliable comparison.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| JANE STREET GROUP, LLC | $204,813 | 161,270 | 70.93% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $26,338 | 20,739 | 9.12% | Shares |
| VANGUARD GROUP INC | $20,091 | 117,492 | 6.96% | Shares |
| TWO SIGMA SECURITIES, LLC | $13,566 | 10,682 | 4.70% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $6,436 | 5,068 | 2.23% | Shares |
| Tower Research Capital LLC (TRC) | $4,448 | 3,502 | 1.54% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $4,086 | 3,217 | 1.42% | Shares |
| SBI Securities Co., Ltd. | $3,287 | 2,588 | 1.14% | Shares |
| MORGAN STANLEY | $2,544 | 2,003 | 0.88% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $1,320 | 1,000 | 0.46% | Shares |
| BlackRock, Inc. | $1,069 | 842 | 0.37% | Shares |
| CITIGROUP INC | $292 | 230 | 0.10% | Shares |
| UBS Group AG | $250 | 197 | 0.09% | Shares |
| HRT FINANCIAL LP | $160 | 126,704 | 0.06% | Shares |
| WELLS FARGO & COMPANY/MN | $38 | 30 | 0.01% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $8 | 6 | 0.00% | Shares |
| DANSKE BANK A/S | $4 | 3 | 0.00% | Shares |
| FMR LLC | $1 | 1 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $0 | 1 | 0.00% | Shares |
Company insiders 17 insiders · 7 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| David A Dodd | President, CEO | June 17, 2026 A | 15,725 | 0 | 0 | $0 |
| Mark Reynolds | CFO | June 17, 2026 A | 6,000 | 0 | 0 | $0 |
| Kelly T. Mckee Jr. | Chief Medical Officer | June 17, 2026 A | — | 0 | 0 | $0 |
| John W. Sharkey | VP, Business Development | June 17, 2026 A | — | 0 | 0 | $0 |
| Mark J Newman | Chief Scientific Officer | June 17, 2026 A | 3,000 | 0 | 0 | $0 |
| Harriet L Robinson | Chief Scientific Officer | June 22, 2011 G | 1,051,972 | 0 | 0 | $0 |
| Andrew J Kandalepas | Senior Vice President | Dec. 11, 2008 A | — | 0 | 0 | $0 |
| Jayne Morgan | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| Nicole Lemerond | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| Dean G Kollintzas | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| John N Spencer JR | Director | June 17, 2026 A | 13,700 | 0 | 0 | $0 |
| Randal D Chase | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| Robert T Mcnally | Director | June 17, 2026 A | 0 | 0 | 0 | $0 |
| Steven S. Antebi | Director | Dec. 10, 2010 A | — | 0 | 0 | $0 |
| Donald G Hildebrand | Director | Dec. 10, 2010 A | 19,000 | 0 | 0 | $0 |
| Peter M Tsolinas | Director | May 21, 2010 P | 431,734 | 0 | 0 | $0 |
| EMORY UNIVERSITY | — | Jan. 27, 2010 S | 231,070,253 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Emory University ×6 filings | March 29, 2018 | — | Initial filing | — | SEC |
| HARRIET L. ROBINSON | June 9, 2009 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Oct. 10, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Oct. 10, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Oct. 10, 2006 | — | 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 1 ETF
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 |
|---|---|---|---|---|
| VXF · VANGUARD INDEX FUNDS | 0.00% | 3,217 SH | Aug. 8, 2026 | Daily |