IMRX Immuneering Corporation - Class A Common Stock
$5.18
Price · Aug 18, 2026
Fundamentals as of Aug 5, 2026
52W Range
$3–$10
28% of range
Analyst Rating
BUY
13 analysts
Price Target
$18
+252% upside
P/E (TTM)
-5.2
ROE
-45.3%
Net Profit Margin
—
IMRX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$5.18
Market Cap
—
P/E (TTM)
-5.2
EPS (TTM)
$-1.27
Revenue (TTM)
$0
Div Yield
—
ROE
-45.3%
Debt/Equity
—
52W Range
$3 – $10
IMRX 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
$0
2020-12-31
→
2023-12-31
EPS
$-1.27
2020-12-31
→
2025-12-31
Free Cash Flow
$-45M
2021-12-31
→
2025-12-31
Margins
—
2021-12-31
→
2022-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
IMRX
Peer Median
P/E (TTM)
-5.2
4.8
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
IMRX
Peer Median
ROA
-39.4%
-40.4%
ROE
-45.3%
-52.2%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
IMRX
Peer Median
Current Ratio
17.5
6.5
Quick Ratio
12.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
IMRX
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
IMRX
Peer Median
IMRX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 4 30.8%
- Buy 8 61.5%
- Hold 1 7.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
8 analysts · 2026-08-17
Median
$17.50
← Below all targets
$5.18
Low
$12.00
High
$30.00
Median target
$17.50
+237.8%
Mean target
$18.25
+252.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.06%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.27 | $-0.27 | 0.00% |
| March 31, 2026 | $-0.21 | $-0.26 | 0.05% |
| Dec. 31, 2025 | $-0.18 | $-0.32 | 0.14% |
| Sept. 30, 2025 | $-0.38 | $-0.40 | 0.02% |
| June 30, 2025 | $-0.40 | $-0.42 | 0.02% |
| March 31, 2025 | $-0.42 | $-0.54 | 0.12% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| IMRX | — | -5.2 | — | — | -45.3% | — |
| ZNTL | $93M | -0.7 | — | — | -49.5% | — |
| IPSC | $87M | -7.1 | 1556.8% | -8.8% | -5.2% | — |
| SABS | — | — | — | — | — | — |
| ABEO | $290M | 5.2 | 147.5% | 1223.1% | 44.1% | — |
| TLSI | — | — | — | — | — | — |
| LYEL | $654M | -1.9 | -41.0% | -762355.6% | -100.3% | — |
| IKT | $270M | -4.2 | 111.0% | -1299.0% | -38.2% | — |
| AGEN | $111M | — | 10.4% | -2.7% | 1.0% | — |
| FATE | $113M | -0.9 | -51.2% | -2051.1% | -58.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | · | · | $0 | $317.0K | $2M | $2M | |
| Cost of Revenue | · | · | $0 | $158.1K | $1M | $1M | |
| Gross Profit | · | · | $0 | $158.8K | $926.9K | $1M | |
| R&D Expense | $42M | $48M | $42M | $36M | $27M | $15M | |
| SG&A Expense | $17M | $16M | $17M | $16M | $8M | $3M | |
| Operating Expenses | $59M | $64M | $58M | $52M | $35M | $18M | |
| Operating Income | $-59M | $-64M | $-58M | $-52M | $-34M | $-17M | |
| Interest Income | $3M | $3M | $4M | $1M | $169.9K | $42.7K | |
| Other Non-op | $311.7K | $441.5K | $1M | $216.8K | $-127.1K | · | |
| Pretax Income | · | · | · | $-51M | $-34M | $-17M | |
| Income Tax | $0 | · | · | · | $-307.5K | · | |
| Net Income | $-56M | $-61M | $-53M | $-51M | $-34M | $-17M | |
| EPS (Basic) | $-1.27 | $-2.04 | $-1.88 | $-1.91 | $-2.46 | $-3.44 | |
| EPS (Diluted) | $-1.27 | $-2.04 | $-1.88 | $-1.91 | $-2.46 | $-3.44 | |
| Shares (Basic) | 44,011,830 | 29,981,565 | 28,416,558 | 26,386,864 | 13,612,677 | 4,950,129 | |
| Shares (Diluted) | 44,011,830 | 29,981,565 | 28,416,558 | 26,386,864 | 13,612,677 | 4,950,129 | |
| EBITDA | $-59M | $-64M | $-58M | $-52M | $-34M | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $129M | $36M | $59M | $73M | $75M | $37M | |
| Short-term Investments | · | · | · | $33M | $74M | · | |
| Receivables | · | · | $0 | $12.4K | $246.0K | $500.1K | |
| Prepaid Expense | $3M | $3M | $3M | $3M | $3M | $141.0K | |
| Current Assets | $176M | $40M | $89M | $109M | $152M | $38M | |
| PP&E (Net) | $938.5K | $1M | $1M | $1M | $807.2K | $64.4K | |
| PP&E (Gross) | $2M | $2M | $2M | $2M | $981.4K | $193.1K | |
| Accum. Depreciation | $1M | $1M | $728.3K | $418.3K | $174.2K | $128.8K | |
| Goodwill | $7M | $7M | $7M | $7M | $7M | · | |
| Intangibles | $321.1K | $350.4K | $379.7K | $408.9K | $439.0K | · | |
| Other Non-current Assets | $283.6K | $1M | $1M | $743.7K | $102.1K | $14.3K | |
| Total Assets | $232M | $53M | $103M | $122M | $167M | $38M | |
| Accounts Payable | $2M | $2M | $2M | $3M | $1M | $1M | |
| Accrued Liabilities | $8M | $5M | $5M | $5M | $4M | $699.0K | |
| Current Liabilities | $10M | $8M | $8M | $8M | $6M | $2M | |
| Capital Leases | $3M | $4M | $4M | $4M | $5M | $544.8K | |
| Total Liabilities | $14M | $11M | $12M | $13M | $11M | $3M | |
| Paid-in Capital | $499M | $266M | $254M | $220M | $215M | $3M | |
| Retained Earnings | $-280M | $-224M | $-163M | $-110M | $-59M | $-26M | |
| AOCI | $81.3K | $0 | $-778 | $-30.1K | $-49.0K | · | |
| Stockholders' Equity | $218M | $41M | $91M | $110M | $156M | $-22M | |
| Liabilities + Equity | $232M | $53M | $103M | $122M | $167M | $38M |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $324.5K | $355.8K | $322.8K | · | · | · | |
| Stock-based Comp | $6M | $7M | $6M | $4M | $2M | $1M | |
| Deferred Tax | · | · | · | · | $-307.5K | · | |
| Amort. of Intangibles | $29.3K | $29.3K | $29.3K | $30.1K | · | · | |
| Other Non-cash | $4M | $-820.1K | · | · | · | · | |
| Operating Cash Flow | $-45M | $-55M | $-49M | $-44M | $-31M | $-15M | |
| CapEx | $142.2K | $84.9K | $342.7K | $742.5K | $60.8K | $53.4K | |
| Investing Cash Flow | $-89M | $26M | $7M | $42M | $-76M | $-53.4K | |
| Stock Issued | · | · | $28M | $0 | $120M | · | |
| Net Stock Activity | · | · | $28M | · | $120M | · | |
| Financing Cash Flow | $227M | $5M | $28M | $19.0K | $144M | $38M | |
| Net Change in Cash | $93M | $-23M | $-13M | $-2M | $38M | $23M | |
| Free Cash Flow | $-45M | $-55M | $-49M | $-45M | $-31M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | 50.1% | 44.6% | · | |
| Operating Margin | · | · | · | -16325.8% | -1629.2% | · | |
| Net Margin | · | · | · | -15937.3% | -1612.3% | · | |
| Pretax Margin | · | · | · | -15937.3% | -1627.1% | · | |
| EBITDA Margin | · | · | · | -16325.8% | -1629.2% | · | |
| ROA | -39.4% | -78.6% | -47.5% | -34.9% | -32.7% | · | |
| ROE | -45.3% | -123.2% | -55.0% | -43.6% | -21.3% | · | |
| ROIC | · | · | · | · | -21.5% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 17.5 | 5.3 | 11.4 | 13.5 | 27.0 | · | |
| Quick Ratio | 12.8 | 4.8 | 7.6 | 13.1 | 26.5 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.0 | 0.0 | 0.0 | · | |
| Receivables Turnover | · | · | 0.0 | 2.5 | 5.6 | · |
Growth Rates 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | · | · | · | -84.8% | -10.0% | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $38.4K | $38.4K | $0 | $317.0K | $2M | · | |
| Net Income TTM | $-56M | $-61M | $-53M | $-51M | $-34M | · | |
| P/E | -5.2 | -1.1 | -3.9 | -2.5 | -6.6 | · | |
| Earnings Yield | -19.3% | -92.7% | -25.6% | -39.4% | -15.2% | · |
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 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $455 | $38.4K | |
| Cost of Revenue | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $19.3K | |
| Gross Profit | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $455 | $19.0K | |
| R&D Expense | $14M | $11M | $9M | $11M | $10M | $11M | $15M | $11M | $11M | $11M | $12M | $10M | $9M | $10M | $10M | $9M | |
| SG&A Expense | $5M | $5M | $4M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | |
| Operating Expenses | $19M | $15M | $14M | $15M | $15M | $15M | $19M | $15M | $15M | $15M | $16M | $14M | $14M | $15M | $14M | $13M | |
| Operating Income | $-19M | $-15M | $-14M | $-15M | $-15M | $-15M | $-19M | $-15M | $-15M | $-15M | $-16M | $-14M | $-14M | $-15M | $-14M | $-13M | |
| Interest Income | $1M | $1M | $2M | $415.8K | $324.0K | $438.5K | $415.2K | $547.1K | $826.1K | $804.9K | $754.1K | $855.5K | $1M | $831.3K | $516.2K | $223.0K | |
| Other Non-op | $647.2K | $513.7K | $311.7K | $0 | $0 | $0 | $91.4K | $129.3K | $7.7K | $213.0K | $464.4K | $475.6K | $150.2K | $244.1K | $223.3K | $120.8K | |
| Net Income | $-17M | $-13M | $-12M | $-15M | $-14M | $-15M | $-18M | $-15M | $-14M | $-14M | $-15M | $-13M | $-12M | $-14M | $-13M | $-13M | |
| EPS (Basic) | $-0.27 | $-0.21 | $-0.07 | $-0.38 | $-0.40 | $-0.42 | $-0.59 | $-0.49 | $-0.47 | $-0.49 | $-0.51 | $-0.43 | $-0.43 | $-0.51 | $-0.49 | $-0.49 | |
| EPS (Diluted) | $-0.27 | $-0.21 | $-0.07 | $-0.38 | $-0.40 | $-0.42 | $-0.59 | $-0.49 | $-0.47 | $-0.49 | $-0.51 | $-0.43 | $-0.43 | $-0.51 | $-0.49 | $-0.49 | |
| Shares (Basic) | 64,697,219 | 64,658,809 | -67,173,795 | 39,670,095 | 35,985,878 | 35,529,652 | -58,884,030 | 29,841,883 | 29,653,355 | 29,370,357 | -55,939,417 | 29,266,309 | 28,647,450 | 26,442,216 | -52,753,049 | 26,394,490 | |
| Shares (Diluted) | 64,697,219 | 64,658,809 | -67,173,795 | 39,670,095 | 35,985,878 | 35,529,652 | -58,884,030 | 29,841,883 | 29,653,355 | 29,370,357 | -55,939,417 | 29,266,309 | 28,647,450 | 26,442,216 | -52,753,049 | 26,394,490 | |
| EBITDA | $-19M | $-15M | · | $-15M | $-15M | $-15M | · | $-15M | $-15M | $-15M | · | $-14M | $-13M | $-15M | · | $-13M |
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 | $41M | $47M | $129M | $228M | $26M | $36M | $36M | $45M | $60M | $66M | $59M | $68M | $104M | $77M | $73M | $76M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $41M | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $1.0K | $12.4K | $70.2K | |
| Prepaid Expense | $8M | $5M | $3M | $2M | $1M | $2M | $3M | $5M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Current Assets | $158M | $161M | $176M | $229M | $28M | $38M | $40M | $55M | $64M | $74M | $89M | $101M | $112M | $94M | $109M | $120M | |
| PP&E (Net) | $879.9K | $937.0K | $938.5K | $892.6K | $964.1K | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| PP&E (Gross) | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Accum. Depreciation | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $997.0K | $909.0K | $818.5K | $728.3K | $648.0K | $569.7K | $492.9K | $418.3K | $344.6K | |
| Goodwill | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | |
| Intangibles | $306.5K | $313.8K | $321.1K | $328.5K | $335.8K | $343.1K | $350.4K | $357.7K | $365.0K | $372.4K | $379.7K | $387.0K | $394.3K | $401.6K | $408.9K | $416.3K | |
| Other Non-current Assets | $278.1K | $278.1K | $283.6K | $631.3K | $841.7K | $810.9K | $1M | $1M | $1M | $1M | $1M | $743.7K | $743.7K | $743.7K | $743.7K | $737.3K | |
| Total Assets | $202M | $215M | $232M | $241M | $40M | $51M | $53M | $69M | $77M | $88M | $103M | $114M | $125M | $108M | $122M | $134M | |
| Accounts Payable | $3M | $1M | $2M | $2M | $2M | $1M | $2M | $2M | $3M | $2M | $2M | $2M | $3M | $3M | $3M | $2M | |
| Accrued Liabilities | $4M | $3M | $8M | $7M | $5M | $3M | $5M | $5M | $4M | $3M | $5M | $3M | $2M | $2M | $5M | $5M | |
| Current Liabilities | $8M | $5M | $10M | $10M | $7M | $5M | $8M | $7M | $7M | $5M | $8M | $6M | $5M | $6M | $8M | $7M | |
| Capital Leases | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $5M | |
| Total Liabilities | $11M | $8M | $14M | $13M | $11M | $9M | $11M | $11M | $11M | $9M | $12M | $10M | $10M | $10M | $13M | $12M | |
| Paid-in Capital | $502M | $500M | $499M | $497M | $283M | $281M | $266M | $264M | $258M | $256M | $254M | $252M | $251M | $221M | $220M | $219M | |
| Retained Earnings | $-311M | $-294M | $-280M | $-269M | $-254M | $-239M | $-224M | $-206M | $-192M | $-178M | $-163M | $-148M | $-136M | $-123M | $-110M | $-97M | |
| AOCI | $-406.2K | $-241.0K | $81.3K | · | · | · | $0 | $7.8K | $0 | $-1.1K | $-778 | $5.6K | $-2.2K | $506 | $-30.1K | $-142.5K | |
| Stockholders' Equity | $191M | $207M | $218M | $228M | $29M | $42M | $41M | $58M | $66M | $79M | $91M | $104M | $115M | $98M | $110M | $122M | |
| Liabilities + Equity | $202M | $215M | $232M | $241M | $40M | $51M | $53M | $69M | $77M | $88M | $103M | $114M | $125M | $108M | $122M | $134M |
Cash Flow 12
| 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 | $84.5K | $81.4K | $75.9K | $78.8K | $84.5K | $85.3K | $86.1K | $88.9K | $90.5K | $90.2K | $89.8K | $78.3K | $78.2K | $76.5K | · | $68.1K | |
| Stock-based Comp | $2M | $2M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $1M | $1M | $1M | $1M | $1M | |
| Amort. of Intangibles | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | $7.3K | |
| Other Non-cash | · | $-7M | · | · | · | $-812.0K | · | · | · | $-3M | · | · | · | · | · | · | |
| Operating Cash Flow | $-17M | $-18M | $-10M | $-12M | $-9M | $-14M | $-15M | $-13M | $-12M | $-15M | $-12M | $-12M | $-11M | $-14M | $-12M | $-11M | |
| CapEx | $27.4K | $79.9K | $123.9K | $7.3K | $2.1K | $8.9K | $9.4K | $5.3K | $32.8K | $37.5K | $170.9K | $57.1K | $86.7K | $28.0K | $69.3K | $393.1K | |
| Investing Cash Flow | $10M | $-63M | $-89M | $-7.3K | $-2.1K | $-8.9K | $5M | $-5M | $5M | $21M | $3M | $-24M | $9M | $19M | $8M | $-880.1K | |
| Stock Issued | · | · | · | · | $0 | $14M | · | · | $0 | $0 | · | $0 | · | · | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | $14M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $24.6K | $180.8K | $-357.5K | $213M | $-62.0K | $14M | $-41.0K | $4M | $0 | $979.9K | $7.8K | $21.4K | $28M | $239.4K | $-184.7K | $-17.2K | |
| Net Change in Cash | $-6M | $-81M | $-99M | $201M | $-10M | $-279.0K | $-9M | $-15M | $-7M | $7M | $-9M | $-36M | $27M | $5M | $-4M | $-12M | |
| Free Cash Flow | · | $-19M | · | · | · | $-14M | · | · | · | $-16M | · | · | · | $-14M | · | · |
Profitability 6
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 49.6% | |
| Operating Margin | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | -34362.0% | |
| Net Margin | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | -33466.2% | |
| EBITDA Margin | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | -34362.0% | |
| ROA | -14.3% | -10.1% | · | -9.7% | -24.6% | -21.7% | · | -16.0% | -13.9% | -14.6% | · | -10.2% | -9.1% | -10.5% | · | -8.6% | |
| ROE | -15.7% | -10.8% | · | -10.5% | -30.3% | -25.0% | · | -18.1% | -15.5% | -16.2% | · | -11.2% | -9.8% | -11.2% | · | -9.2% |
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 | 19.5 | 32.4 | · | 24.0 | 3.7 | 7.5 | · | 8.0 | 9.4 | 14.4 | · | 17.9 | 20.4 | 17.1 | · | 16.5 | |
| Quick Ratio | 5.1 | 9.5 | · | 23.8 | 3.5 | 7.0 | · | 6.5 | 8.8 | 12.8 | · | 12.1 | 19.0 | 14.0 | · | 16.2 |
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 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.1 |
Valuation (TTM) 4
| 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 | $38.4K | $38.4K | · | $38.4K | $38.4K | $38.4K | · | $38.4K | $38.4K | $38.4K | · | $38.4K | $132.8K | $316.5K | · | $798.6K | |
| Net Income TTM | $-60M | $-58M | · | $-59M | $-58M | $-58M | · | $-56M | $-53M | $-53M | · | $-51M | $-50M | $-51M | · | $-46M | |
| P/E | -4.0 | -3.7 | · | -4.1 | -1.9 | -0.8 | · | -1.3 | -0.7 | -1.6 | · | -4.1 | -5.4 | -5.0 | · | -7.6 | |
| Earnings Yield | -25.2% | -26.8% | · | -24.1% | -52.8% | -123.0% | · | -75.5% | -142.2% | -64.4% | · | -24.2% | -18.4% | -19.9% | · | -13.2% |
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 | — | — | $0 | $317.0K | $2M |
| Gross Margin % | — | — | — | 50.1% | 44.6% |
| Operating Margin % | — | — | — | -16325.8% | -1629.2% |
| Net Income | $-56M | $-61M | $-53M | $-51M | $-34M |
| Diluted EPS | $-1.27 | $-2.04 | $-1.88 | $-1.91 | $-2.46 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 17.5 | 5.3 | 11.4 | 13.5 | 27.0 |
| Quick Ratio | 12.8 | 4.8 | 7.6 | 13.1 | 26.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-45M | $-55M | $-49M | $-45M | $-31M |
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Institutional owners (13F) 121 filers · $124.8M 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 |
|---|---|---|---|---|
| 37 (+8 vs prior Q) | 19 (+3 vs prior Q) | 33 (+3 vs prior Q) | 27 (+3 vs prior Q) | +2.7M |
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 |
|---|---|---|---|---|
| FMR LLC | $27,880,797 | 5,587,334 | 22.33% | Shares |
| VANGUARD GROUP INC | $14,620,839 | 2,222,012 | 11.71% | Shares |
| Sanofi | $13,515,709 | 2,708,559 | 10.83% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $11,409,306 | 2,286,434 | 9.14% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $5,821,642 | 1,166,308 | 4.66% | Shares |
| STATE STREET CORP | $4,999,955 | 1,001,995 | 4.01% | Shares |
| DCF Advisers, LLC | $3,942,100 | 790,000 | 3.16% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $3,000,262 | 601,255 | 2.40% | Shares |
| ALETHEA CAPITAL MANAGEMENT, LLC | $2,359,946 | 472,935 | 1.89% | Shares |
| Summit Financial, LLC | $2,256,797 | 452,264 | 1.81% | Shares |
| LEVIN CAPITAL STRATEGIES, L.P. | $2,065,860 | 414,000 | 1.65% | Shares |
| UBS Group AG | $1,999,278 | 400,657 | 1.60% | Shares |
| SOUTHPORT MANAGEMENT, L.L.C. | $1,825,957 | 277,501 | 1.46% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,800,212 | 360,764 | 1.44% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,791,834 | 359,085 | 1.44% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,648,706 | 330,402 | 1.32% | Shares |
| Burkehill Global Management, LP | $1,497,000 | 300,000 | 1.20% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,439,216 | 288,420 | 1.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,409,675 | 282,500 | 1.13% | Call option |
| Occam Crest Management LP | $1,129,309 | 278,498 | 0.90% | Shares |
| JANE STREET GROUP, LLC | $915,665 | 183,500 | 0.73% | Call option |
| MARSHALL WACE, LLP | $903,319 | 181,026 | 0.72% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $837,826 | 167,901 | 0.67% | Shares |
| Permanent Capital Management, LP | $748,500 | 150,000 | 0.60% | Shares |
| PVG ASSET MANAGEMENT CORP | $730,790 | 146,451 | 0.59% | Shares |
| HighTower Advisors, LLC | $715,995 | 143,486 | 0.57% | Shares |
| Kingsview Wealth Management, LLC | $643,994 | 122,200 | 0.52% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $544,409 | 109,100 | 0.44% | Put option |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $539,664 | 108,149 | 0.43% | Shares |
| D. E. Shaw & Co., Inc. | $529,299 | 106,072 | 0.42% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $527,987 | 105,809 | 0.42% | Shares |
| Fisher Asset Management, LLC | $440,781 | 88,333 | 0.35% | Shares |
| Corient Private Wealth LP | $384,679 | 77,090 | 0.31% | Shares |
| CITADEL ADVISORS LLC | $366,266 | 73,400 | 0.29% | Call option |
| CIBC Private Wealth Group LLC | $350,357 | 50,051 | 0.28% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $344,574 | 69,053 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $328,903 | 65,914 | 0.26% | Shares |
| ALPS ADVISORS INC | $327,633 | 65,658 | 0.26% | Shares |
| TD Asset Management Inc | $325,328 | 65,196 | 0.26% | Shares |
| XTX Topco Ltd | $321,331 | 64,395 | 0.26% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $310,084 | 62,141 | 0.25% | Shares |
| CITADEL ADVISORS LLC | $307,384 | 61,600 | 0.25% | Put option |
| Clearstead Advisors, LLC | $303,716 | 60,865 | 0.24% | Shares |
| AMERICAN CENTURY COMPANIES INC | $297,194 | 59,558 | 0.24% | Shares |
| BANK OF AMERICA CORP /DE/ | $296,281 | 59,375 | 0.24% | Shares |
| Squarepoint Ops LLC | $287,868 | 57,689 | 0.23% | Shares |
| ALLIANCEBERNSTEIN L.P. | $277,887 | 52,730 | 0.22% | Shares |
| BRANDYWINE MANAGERS, LLC | $274,779 | 55,066 | 0.22% | Shares |
| Flower City Capital | $274,595 | 55,029 | 0.22% | Shares |
| DEUTSCHE BANK AG\ | $261,007 | 52,306 | 0.21% | Shares |
| Bank of New York Mellon Corp | $231,865 | 46,466 | 0.19% | Shares |
| TWO SIGMA ADVISERS, LP | $209,244 | 31,800 | 0.17% | Shares |
| WEALTH EFFECTS LLC | $200,099 | 40,100 | 0.16% | Shares |
| LPL Financial LLC | $184,780 | 37,030 | 0.15% | Shares |
| Prosight Management, LP | $183,936 | 36,861 | 0.15% | Shares |
| Nuveen, LLC | $182,235 | 36,520 | 0.15% | Shares |
| OPPENHEIMER & CO INC | $174,650 | 35,000 | 0.14% | Shares |
| MetLife Investment Management, LLC | $167,060 | 33,479 | 0.13% | Shares |
| JANE STREET GROUP, LLC | $145,209 | 29,100 | 0.12% | Put option |
| Berman McAleer LLC | $124,750 | 25,000 | 0.10% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $122,679 | 24,585 | 0.10% | Shares |
| FIRST MANHATTAN CO. LLC. | $120,983 | 24,245 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $120,973 | 24,243 | 0.10% | Shares |
| Cerity Partners LLC | $120,633 | 24,175 | 0.10% | Shares |
| CITIGROUP INC | $115,863 | 23,219 | 0.09% | Shares |
| JPMORGAN CHASE & CO | $112,251 | 22,228 | 0.09% | Shares |
| Cetera Investment Advisers | $112,006 | 22,446 | 0.09% | Shares |
| CIBC Bancorp USA Inc. | $107,285 | 21,500 | 0.09% | Shares |
| Invesco Ltd. | $106,696 | 21,382 | 0.09% | Shares |
| GREAT VALLEY ADVISOR GROUP, INC. | $105,790 | 21,120 | 0.08% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $96,906 | 19,420 | 0.08% | Shares |
| Palumbo Wealth Management LLC | $95,225 | 19,083 | 0.08% | Shares |
| WINTON GROUP Ltd | $85,828 | 17,200 | 0.07% | Shares |
| NATIONS FINANCIAL GROUP INC, /IA/ /ADV | $84,830 | 17,000 | 0.07% | Shares |
| GOLDMAN SACHS GROUP INC | $82,330 | 16,499 | 0.07% | Shares |
| Kelsey Financial, LLC | $81,961 | 16,425 | 0.07% | Shares |
| Future Financial Wealth Managment LLC | $79,020 | 18,000 | 0.06% | Shares |
| Police & Firemen's Retirement System of New Jersey | $78,912 | 15,814 | 0.06% | Shares |
| China Universal Asset Management Co., Ltd. | $63,857 | 12,797 | 0.05% | Shares |
| Focus Financial Network, Inc. | $62,375 | 12,500 | 0.05% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $60,379 | 12,100 | 0.05% | Shares |
| Quantbot Technologies LP | $58,134 | 11,650 | 0.05% | Shares |
| BARCLAYS PLC | $56,641 | 11,351 | 0.05% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $55,948 | 11,212 | 0.04% | Shares |
| Thayer Partners, LLC / MA | $54,835 | 11,000 | 0.04% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $53,712 | 10,764 | 0.04% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $50,614 | 10,143 | 0.04% | Shares |
| Ausdal Financial Partners, Inc. | $49,900 | 10,000 | 0.04% | Shares |
| VestGen Advisors, LLC | $49,900 | 10,000 | 0.04% | Shares |
| Moors & Cabot, Inc. | $49,900 | 10,000 | 0.04% | Shares |
| Tidemark, LLC | $49,900 | 10,000 | 0.04% | Shares |
| BlackRock, Inc. | $46,252 | 9,269 | 0.04% | Shares |
| NORTHERN TRUST CORP | $41,931 | 8,403 | 0.03% | Shares |
| Integrated Wealth Concepts LLC | $33,932 | 6,800 | 0.03% | Shares |
| State of Wyoming | $28,922 | 5,796 | 0.02% | Shares |
| Legal & General Group Plc | $25,963 | 5,203 | 0.02% | Shares |
| Ameritas Investment Partners, Inc. | $24,281 | 4,866 | 0.02% | Shares |
| GROUP ONE TRADING LLC | $23,907 | 4,791 | 0.02% | Shares |
| Russell Investments Group, Ltd. | $21,392 | 4,287 | 0.02% | Shares |
| Mirae Asset Global Investments Co., Ltd. | $14,441 | 2,894 | 0.01% | Shares |
Company insiders 12 insiders · 6 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Benjamin J. Zeskind | PRESIDENT AND CEO | June 23, 2026 P | 2,315,252 | 1 | 0 | $10,944 |
| Andrew Gengos | Chief Financial Officer | July 16, 2026 A | — | 0 | 0 | $0 |
| Biren Amin | CFO, Treasurer | Aug. 3, 2021 C | 6,898 | 0 | 0 | $0 |
| Brett Matthew Hall | CHIEF SCIENTIFIC OFFICER | June 15, 2026 P | 382,531 | 1 | 0 | $25,045 |
| Scott Barrett | Chief Medical Officer | Aug. 3, 2021 C | 6,663 | 0 | 0 | $0 |
| Michael Bookman | General Counsel and Secretary | Aug. 3, 2021 P | 1,402 | 0 | 0 | $0 |
| Peter Feinberg | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Laurie Keating | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Diana Hausman | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Thomas J. Schall | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| CARPENTER ROBERT J | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Ann E Berman | Director | Aug. 3, 2021 P | 3,500 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 13 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 |
|---|---|---|---|---|
| IWC · iShares Trust | 0.05% | 183,706 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 46,623 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.02% | 3,488 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.02% | 419,871 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.02% | 2,387 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.02% | 491,725 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 52,296 NS | May 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 307,879 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,337,130 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 612,343 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,623,577 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,583 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 3,598 NS | April 30, 2026 | N-PORT |