INO Inovio Pharmaceuticals, Inc. - Common Stock
About Inovio Pharmaceuticals, Inc. - Common Stock Company overview from Wikipedia
Inovio Pharmaceuticals, Inc. is an American biotechnology company focused on the discovery, development, and commercialization of synthetic DNA products for treating cancers and infectious diseases. In April 2020, Inovio was among some 100 companies, academic centers, or research organizations developing a vaccine candidate for treating people infected with COVID-19, with more than 170 total vaccine candidates in development.
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Inovio Pharmaceuticals, Inc. is an American biotechnology company focused on the discovery, development, and commercialization of synthetic DNA products for treating cancers and infectious diseases. In April 2020, Inovio was among some 100 companies, academic centers, or research organizations developing a vaccine candidate for treating people infected with COVID-19, with more than 170 total vaccine candidates in development (June 2020).
Technology
The Inovio technology is based on inserting engineered DNA into cells, where it becomes transcribed into mRNA and translated into proteins. The proteins encoded by the DNA elicit immune response to antigens from cancers and viruses, by stimulating the production of T cells and antibodies that aid recovery. The technology can be "targeted" to specific types of cancer and immune diseases, such as those produced by a virus.
During a meeting of the White House Coronavirus Task Force in March 2020, CEO, Joseph Kim, said that Inovio scientists had designed a vaccine candidate (INO-4800) for the COVID-19 coronavirus in January, in three hours, after the virus' genetic sequence was first published.
Shareholders sued Inovio in August 2020, claiming it exaggerated evidence of its coronavirus vaccine's efficacy in order to boost its stock price.
License of electroporation device
In 2006, Inovio licensed "certain patented technology relating to the delivery of gene-based therapeutics into skin", as well as patents "involving the delivery of genes or drugs via ex vivo, intratumoral and intramuscular electroporation... The ex-vivo patents are relevant to the delivery of genes to dendritic and stem cells."
Licence of US7328064B2
Sometime after its publication in February 2008, Inovio was assigned a patent for "an apparatus [that provides] for injecting a fluid into body tissue, the apparatus comprising: a hollow needle; and a fluid delivery means, wherein the apparatus is adapted to actuate the fluid delivery means in use so as to automatically inject fluid into body tissue during insertion of the needle into the said body tissue."
Cellectra injection device
To facilitate use of its potential products, Inovio manufactures a proprietary injection device, called "Cellectra", which the company describes as providing a "brief electrical pulse to reversibly open small pores in the cell to allow the plasmids to enter, overcoming a key limitation of other DNA and other nucleic acid approaches, such as mRNA." The small device, which runs on "AA" batteries, is designed for use in the field under the difficult conditions of an epidemic.
In June 2020 – in anticipation of the Inovio COVID-19 vaccine candidate becoming successful – the US Department of Defense invested US$71 million to further develop Cellectra as a handheld device and to preorder an undisclosed number of the devices.
Vaccine development
In a 2016 dose-escalation Phase I clinical trial to assess safety after intramuscular injection in healthy adults, the Inovio vaccine candidate, INO-4700 (also called GLS-5300) for development against Middle East respiratory syndrome (MERS) coronavirus, proved to be safe with only mild symptoms and no adverse effects. The trial also demonstrated immunogenicity by dose-independent immune responses detected in more than 85% of subjects after two vaccinations that were durable a year later.
In 2016, Inovio was involved, along with their partners GeneOne Life Science, in an attempt to control the Zika virus outbreak in Miami. In fact, they "were the first to initiate a human Zika DNA vaccine trial... [for] the safety, tolerability, and immunogenicity of GLS-5700 in 40 healthy adults. The trial's estimated completion date is November 2017." Then in Puerto Rico, where a Zika emergency had been declared, they did a study with 160 previously healthy adults using their proprietary "Cellectra-3P" technology. Preliminary results for the Miami trial were self-reported at the end of 2017.
In February 2020 after receiving details of the genetic sequence of the coronavirus, Inovio announced that it had produced a preclinical DNA-based vaccine as a potential therapy for COVID-19. Inovio is in competition to develop a coronavirus vaccine with numerous other companies, which were conducting preclinical or early-stage human research on more than 170 vaccine candidates, as of late June. In April 2020, Inovio began a Phase I trial of the COVID-19 vaccine candidate, INO-4800. In May 2021, Inovio announced the results of preclinical studies on a "pan-SARS-CoV-2" DNA vaccine (INO-4802) and plans to initiate phase I/II studies. The vaccine incorporates common overlapping mutations from several SARS-COV-2 variants of concern isolated from several different countries including Brazil and India.
Partnerships
In January 2020, the Coalition for Epidemic Preparedness Innovations (CEPI) announced it would grant of up to $9 million to Inovio for development of a vaccine against SARS-CoV-2. Inovio has partnerships to develop its COVID-19 vaccine candidate with CEPI, the South Korean National Institute of Health, and the International Vaccine Institute.
Clinical research
Inovio is collaborating with Beijing Advaccine Biotechnology Co., a Chinese biotech firm, in order to speed its acceptance by regulatory authorities in China, with plans to begin human clinical trials of a candidate vaccine in China during the first half of 2020. Inovio has partnerships with manufacturers to scale up production of a vaccine if preliminary efficacy trials are successful. In April 2020, the company began human Phase I safety studies of its lead vaccine (INO-4800) in the United States, and a Phase I-II trial in South Korea, to test for immunization against the COVID-19 virus. In April 2021, the US Department of Defense discontinued funding of future phase III trials of INO-4800. The company is planning to conduct phase III trials outside the United States.
On 9 July it decided to conduct phase 3 trials in partnership with Beijing-based Advaccine Pharmaceutical company.
In early June, Inovio partnered with the International Vaccine Institute and Seoul National University, South Korea, to advance human research on INO-4800 in a Phase I-II safety and efficacy trial to be conducted on 120 participants at Seoul National University Hospital beginning in June. The trial is funded by the Coalition for Epidemic Preparedness Innovations and supported by the Korea Centers for Disease Control and Prevention and the Korea National Institute of Health.
History
Inovio was formerly known as Electrofect, which was founded in Oslo, Norway in 1999. The company was renamed to Inovio in October 2001.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
INO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
INO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 1 12.5%
- Buy 4 50.0%
- Hold 3 37.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
3 analysts · 2026-08-25Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.28 | $-0.35 | 0.07% |
| Dec. 31, 2025 | $0.06 | $-0.36 | 0.42% |
| Sept. 30, 2025 | $-0.87 | $-0.43 | -0.44% |
| June 30, 2025 | $-0.61 | $-0.62 | 0.01% |
| March 31, 2025 | $-0.41 | $-0.75 | 0.34% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| INO | $120M | -1.0 | -70.0% | -130000.0% | -322.8% | — |
| VTVT | — | — | — | — | -70.4% | — |
| ANIX | $136M | -12.1 | 0.00% | — | -62.2% | — |
| BDTX | $139M | 6.2 | — | 31.9% | 18.3% | — |
| GNLX | $166M | -5.1 | 0.00% | -401812.5% | -181.4% | — |
| COYA | $121M | -4.6 | 123.6% | -267.1% | -59.5% | — |
| XGN | $139M | -6.5 | 19.7% | -30.0% | -103.7% | 58.3% |
| CADL | $310M | -7.8 | — | — | -53.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $65.3K | $217.8K | $832.0K | $10M | $2M | $7M | $4M | $30M | $42M | $35M | $41M | $10M | |
| R&D Expense | $54M | $76M | $87M | $188M | $249M | $94M | $88M | $95M | $99M | $89M | $58M | $34M | |
| SG&A Expense | $33M | $37M | $48M | $90M | $54M | $37M | $27M | $29M | $28M | $24M | $18M | $16M | |
| Operating Expenses | $87M | $113M | $145M | $278M | $303M | $131M | $115M | $125M | $126M | $112M | $75M | $50M | |
| Operating Income | $-87M | $-112M | $-144M | $-268M | $-301M | $-124M | $-111M | $-94M | $-84M | $-76M | $-34M | $-39M | |
| Interest Expense | · | · | $1M | $1M | $2M | $9M | $8M | $0 | $25.9K | · | · | · | |
| Interest Income | $2M | $5M | $8M | $5M | $3M | $3M | $3M | $2M | $2M | · | · | · | |
| Other Non-op | $-3M | $-3M | $-5M | $-4M | $343.4K | $-704.9K | $496.2K | $-1M | $-197.5K | · | · | · | |
| Pretax Income | $-85M | $-107M | $-135M | $-278M | $-303M | $-163M | $-121M | $-95M | $-88M | $-74M | $-31M | $-36M | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $-257.3K | $2M | $0 | $0 | $-2M | $0 | |
| Net Income | $-85M | $-107M | $-135M | $-280M | $-304M | $-166M | $-119M | $-97M | $-88M | $-74M | $-29M | $-36M | |
| EPS (Basic) | $-1.81 | $-3.95 | $-6.09 | $-14.07 | $-17.45 | $-1.07 | $-1.21 | $-1.05 | $-1.08 | $-1.01 | $-0.43 | $-0.61 | |
| EPS (Diluted) | $-1.81 | $-3.95 | $-6.09 | $-14.07 | $-17.45 | $-1.07 | $-1.21 | $-1.05 | $-1.09 | $-1.01 | $-0.44 | $-0.64 | |
| Shares (Basic) | 46,886,413 | 27,160,863 | 22,173,662 | 19,885,182 | 17,402,483 | 155,126,857 | 98,717,999 | 92,539,997 | 81,777,493 | 73,214,766 | 68,198,142 | 59,127,349 | |
| Shares (Diluted) | 46,886,413 | 27,160,863 | 22,173,662 | 19,885,182 | 17,402,483 | 155,126,857 | 98,717,999 | 92,539,997 | 81,918,022 | 73,214,766 | 68,365,265 | 59,408,252 | |
| EBITDA | $-87M | $-112M | $-144M | $-268M | $-301M | $-124M | $-111M | $-94M | $-84M | $-76M | $-34M | $-39M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $44M | $66M | $14M | $46M | $71M | $251M | $22M | $24M | $24M | $19M | $58M | $41M | |
| Short-term Investments | $14M | $28M | $131M | $207M | $330M | $161M | $67M | $58M | $104M | $86M | $105M | $53M | |
| Receivables | $450 | $1M | $2M | $2M | $5M | $19M | $700.1K | $3M | $6M | $16M | $7M | $3M | |
| Prepaid Expense | $3M | $4M | $5M | $50M | $39M | $40M | $2M | $1M | $3M | $2M | $917.3K | $798.0K | |
| Current Assets | $61M | $98M | $153M | $315M | $448M | $471M | $94M | $88M | $138M | $125M | $172M | $99M | |
| PP&E (Net) | $3M | $4M | $5M | $8M | $17M | $11M | $13M | $16M | $18M | $9M | $7M | $5M | |
| PP&E (Gross) | $20M | $20M | $26M | $29M | $36M | $27M | $26M | $26M | $25M | $14M | $11M | $7M | |
| Accum. Depreciation | $17M | $16M | $21M | $22M | $19M | $16M | $13M | $10M | $7M | $5M | $4M | $3M | |
| Goodwill | · | · | $0 | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $10M | $10M | |
| Intangibles | · | · | $0 | $2M | $3M | $3M | $4M | $5M | $6M | $8M | $4M | $5M | |
| Other Non-current Assets | $2M | $2M | $605.3K | $684.0K | $1M | $26M | $3M | $3M | $3M | $2M | $670.8K | $474.6K | |
| Total Assets | $74M | $113M | $171M | $349M | $496M | $540M | $144M | $131M | $187M | $174M | $214M | $132M | |
| Accounts Payable | · | · | · | $80M | $48M | $21M | $18M | $23M | $23M | $20M | $13M | $6M | |
| Accrued Liabilities | · | · | · | · | · | · | · | $6M | $9M | $6M | $3M | $2M | |
| Current Liabilities | $44M | $35M | $43M | $97M | $66M | $42M | $32M | $35M | $35M | $44M | $31M | $14M | |
| Capital Leases | $7M | $9M | $11M | $13M | $15M | $18M | $20M | · | · | · | · | · | |
| Deferred Tax | · | · | $0 | $32.0K | $32.0K | $32.0K | $32.0K | $24.8K | $24.8K | $174.8K | $175.6K | $504.0K | |
| Other Non-current Liabilities | · | · | · | $0 | $14.8K | $57.7K | $36.9K | $87.3K | $0 | · | · | · | |
| Total Liabilities | $50M | $45M | $54M | $126M | $96M | $79M | $139M | $44M | $45M | $50M | $38M | $20M | |
| Long-term Debt | · | · | · | · | · | · | · | $0 | · | · | · | · | |
| Common Stock | $69.0K | $36.1K | $22.8K | $21.1K | $217.4K | $186.9K | $101.4K | $97.2K | $90.4K | $74.1K | $72.2K | $60.7K | |
| Paid-in Capital | $1.84B | $1.80B | $1.74B | $1.71B | $1.61B | $1.37B | $743M | $708M | $666M | $557M | $534M | $443M | |
| Retained Earnings | $-1.82B | $-1.73B | $-1.62B | $-1.49B | $-1.21B | $-906M | $-740M | $-620M | $-523M | $-435M | $-361M | $-332M | |
| AOCI | $-638.0K | $-675.7K | $-662.6K | $-698.7K | $-282.2K | $-256.1K | $472.6K | $-528.9K | $-117.0K | $1M | $3M | $-251.4K | |
| Stockholders' Equity | $24M | $69M | $117M | $222M | $400M | $461M | $3M | $87M | $142M | $123M | $176M | $111M | |
| Liabilities + Equity | $74M | $113M | $171M | $349M | $496M | $540M | $144M | $131M | $187M | $174M | $214M | $132M | |
| Shares Outstanding | 68,996,647 | 36,099,991 | 22,793,075 | 21,090,938 | 217,382,887 | 186,851,493 | 101,361,034 | 97,225,810 | 90,357,644 | 74,062,370 | 72,217,965 | 60,741,082 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $4M | $7M | $11M | $23M | $26M | $16M | $11M | $11M | $13M | $10M | $6M | $5M | |
| Deferred Tax | · | $0 | $-32.0K | $0 | $0 | $0 | $-263.0K | $0 | $0 | $0 | $-2M | $27.0K | |
| Amort. of Intangibles | · | $0 | $145.4K | $496.5K | $520.4K | $547.1K | $1M | $1M | $2M | $1M | $870.2K | $942.7K | |
| Operating Cash Flow | $-89M | $-104M | $-124M | $-216M | $-216M | $-178M | $-98M | $-74M | $-63M | $-63M | $-12M | $-30M | |
| CapEx | $285.7K | $487.8K | $320.9K | $969.2K | $1M | $2M | $987.9K | $2M | $10M | $3M | $3M | $1M | |
| Investing Cash Flow | $14M | $104M | $87M | $110M | $-175M | $-59M | $-9M | $42M | $-28M | $16M | $-55M | $-36M | |
| Debt Issued | · | · | · | · | $0 | $0 | $97M | $0 | $0 | · | · | · | |
| Net Debt Issued | · | · | · | · | $0 | $0 | $97M | · | · | · | · | · | |
| Stock Issued | $35M | $36M | $5M | $83M | $209M | $454M | $9M | $29M | $94M | $6M | $82M | $59M | |
| Net Stock Activity | $35M | $36M | $5M | $83M | $209M | $454M | $9M | $29M | $94M | $6M | $82M | $59M | |
| Financing Cash Flow | $53M | $51M | $5M | $82M | $211M | $465M | $105M | $31M | $96M | $8M | $84M | $72M | |
| Net Change in Cash | $-22M | $52M | $-32M | $-25M | $-180M | $229M | $-1M | $-92.9K | $5M | $-38M | $17M | $7M | |
| Free Cash Flow | $-89M | $-105M | $-125M | $-217M | $-217M | $-179M | $-99M | $-76M | $-74M | $-65M | $-15M | $-31M | |
| Levered FCF | · | · | $-126M | $-218M | $-219M | $-188M | $-107M | · | · | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -132871.3% | -51616.9% | -17300.3% | -2607.3% | -16972.3% | -1674.2% | -2702.1% | -308.7% | -198.1% | -215.6% | -84.5% | -377.7% | |
| Net Margin | -130000.0% | -49254.3% | -16239.9% | -2726.7% | -17109.9% | -2245.4% | -2902.8% | -318.1% | -208.9% | -208.5% | -71.9% | -345.4% | |
| Pretax Margin | -130000.0% | -49254.3% | -16239.9% | -2705.6% | -17085.4% | -2197.9% | -2938.0% | -311.0% | -208.9% | -208.5% | -76.9% | · | |
| EBITDA Margin | -132871.3% | -51616.9% | -17300.3% | -2607.3% | -16972.3% | -1674.2% | -2702.1% | -308.7% | -198.1% | -215.6% | -84.5% | -377.7% | |
| ROA | -90.6% | -75.5% | -52.0% | -66.3% | -58.6% | -48.7% | -86.8% | -60.9% | -48.9% | -38.0% | -16.9% | -32.8% | |
| ROE | -322.8% | -151.0% | -105.8% | -114.4% | -71.2% | -71.6% | -264.2% | -84.6% | -66.4% | -49.3% | -20.3% | -44.1% | |
| ROIC | -360.3% | -164.1% | -122.7% | -120.3% | -75.4% | -26.9% | -3226.5% | -110.7% | -58.7% | -61.8% | -18.2% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.4 | 2.8 | 3.6 | 3.3 | 6.8 | 11.3 | 2.9 | 2.5 | 3.9 | 2.8 | 5.5 | 7.1 | |
| Quick Ratio | 1.3 | 2.7 | 3.4 | 2.6 | 6.2 | 10.3 | 2.8 | 2.4 | 3.8 | 2.8 | 5.4 | 6.9 | |
| Interest Coverage | · | · | -117.7 | -213.4 | -155.6 | -14.3 | -14.0 | · | · | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | |
| Receivables Turnover | 0.1 | 0.1 | · | 2.9 | 0.1 | 0.8 | 2.0 | 6.5 | 3.9 | 3.1 | 8.0 | 3.4 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -70.0% | -73.8% | -91.9% | 478.2% | -76.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -81.5% | -50.3% | -51.8% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -61.2% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $65.3K | $217.8K | $832.0K | $10M | $2M | $7M | $4M | $30M | $42M | $35M | $41M | $10M | |
| Net Income TTM | $-85M | $-107M | $-135M | $-280M | $-304M | $-166M | $-119M | $-97M | $-88M | $-74M | $-29M | $-36M | |
| Market Cap | $120M | $66M | $139M | $4.74B | $13.02B | $19.84B | $4.01B | $4.67B | $4.48B | $6.17B | $5.82B | $6.69B | |
| P/E | -1.0 | -0.5 | -1.0 | -1.3 | -3.4 | -99.3 | -32.7 | -45.7 | -45.5 | -82.5 | -183.3 | -172.1 | |
| P/S | 1837.3 | 303.4 | 167.7 | 461.7 | 7334.5 | 2677.5 | 976.2 | 153.1 | 106.1 | 174.4 | 143.5 | 639.9 | |
| P/B | 5.0 | 1.0 | 1.2 | 21.3 | 32.6 | 43.0 | 1168.5 | 53.7 | 31.4 | 50.0 | 33.1 | 60.2 | |
| P / Tangible Book | 5.0 | 1.0 | 1.2 | 22.6 | 33.7 | 44.3 | · | · | · | · | · | · | |
| P / Cash Flow | -1.4 | -0.6 | -1.1 | -21.9 | -60.3 | -111.5 | -41.0 | -63.5 | -70.8 | -98.6 | -468.2 | -224.4 | |
| P / FCF | -1.4 | -0.6 | -1.1 | -21.8 | -60.0 | -110.5 | -40.6 | -61.7 | -60.9 | -94.5 | -382.6 | -214.4 | |
| Earnings Yield | -104.0% | -215.9% | -99.5% | -75.2% | -29.1% | -1.0% | -3.1% | -2.2% | -2.2% | -1.2% | -0.55% | -0.58% |
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 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $65.3K | $117.0K | $0 | $100.8K | $0 | $388.4K | $226.0K | $114.9K | $9M | $784.4K | $199.1K | |
| R&D Expense | $11M | $14M | $10M | $13M | $15M | $16M | $13M | $19M | $23M | $21M | $16M | $24M | $30M | $33M | $56M | $56M | |
| SG&A Expense | $8M | $8M | $7M | $8M | $9M | $9M | $8M | $9M | $10M | $11M | $10M | $14M | $14M | $12M | $48M | $16M | |
| Operating Expenses | $19M | $22M | $17M | $21M | $23M | $25M | $20M | $27M | $33M | $31M | $36M | $37M | $44M | $45M | $105M | $72M | |
| Operating Income | $-19M | $-22M | $-17M | $-21M | $-23M | $-25M | $-20M | $-27M | $-33M | $-31M | $-36M | $-37M | $-44M | $-36M | $-104M | $-72M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $177.8K | $313.5K | $313.5K | $313.5K | $313.5K | $313.5K | $313.5K | |
| Interest Income | $363.8K | $439.6K | $449.3K | $552.1K | $610.6K | $808.1K | $852.6K | $1M | $1M | $2M | $2M | $2M | $2M | $1M | $857.7K | $669.8K | |
| Other Non-op | $-2M | $-285.5K | $88 | $-2M | $-703.2K | $-482 | $-2M | $-579.8K | $7.6K | $-682.2K | $2.9K | $-1M | $-2M | $-940.8K | $-3.0K | $-153.5K | |
| Pretax Income | · | · | · | · | · | · | · | · | · | · | $-34M | $-36M | $-41M | $-38M | $-108M | $-77M | |
| Net Income | $-6M | $-20M | $4M | $-45M | $-24M | $-20M | $-19M | $-25M | $-32M | $-30M | $-34M | $-36M | $-41M | $-38M | $-108M | $-79M | |
| EPS (Basic) | $-0.07 | $-0.28 | $0.18 | $-0.87 | $-0.61 | $-0.51 | $-0.56 | $-0.89 | $-1.19 | $-1.31 | $-1.52 | $-1.61 | $-1.89 | $-0.15 | $-0.46 | $-0.36 | |
| EPS (Diluted) | $-0.07 | $-0.28 | $0.18 | $-0.87 | $-0.61 | $-0.51 | $-0.56 | $-0.89 | $-1.19 | $-1.31 | $-1.52 | $-1.61 | $-1.89 | $-0.15 | $-0.46 | $-0.36 | |
| Shares (Basic) | 81,619,113 | 69,101,910 | -82,725,987 | 52,168,694 | 38,830,053 | 38,613,653 | -51,468,948 | 28,140,497 | 27,197,802 | 23,291,512 | 22,385,229 | 22,029,486 | 21,536,476 | 249,351,023 | 235,278,276 | 218,940,693 | |
| Shares (Diluted) | 81,619,113 | 69,101,910 | -82,725,987 | 52,168,694 | 38,830,053 | 38,613,653 | -51,468,948 | 28,140,497 | 27,197,802 | 23,291,512 | 22,385,229 | 22,029,486 | 21,536,476 | 249,351,023 | 235,278,276 | 218,940,693 | |
| EBITDA | $-19M | $-22M | · | $-21M | $-23M | $-25M | · | $-27M | $-33M | $-31M | $-36M | $-37M | $-44M | $-36M | $-104M | $-72M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $32M | $26M | $44M | $37M | $24M | $40M | $66M | $22M | $34M | $20M | $19M | $53M | $28M | $22M | $41M | $59M | |
| Short-term Investments | $5M | $11M | $14M | $14M | $23M | $28M | $28M | $63M | $76M | $86M | $149M | $142M | $196M | $260M | $307M | $301M | |
| Receivables | · | · | $450 | $978.6K | $840.3K | $1M | $1M | $2M | $2M | $3M | · | · | $73.3K | $2M | $4M | $4M | |
| Prepaid Expense | $3M | $2M | $3M | $3M | $4M | $2M | $4M | $5M | $5M | $4M | $5M | $3M | $5M | $58M | $56M | $32M | |
| Current Assets | $40M | $39M | $61M | $55M | $53M | $72M | $98M | $91M | $118M | $112M | $175M | $203M | $234M | $350M | $416M | $400M | |
| PP&E (Net) | $2M | $2M | $3M | $3M | $3M | $3M | $4M | $4M | $5M | $5M | $6M | $6M | $7M | $16M | $16M | $17M | |
| PP&E (Gross) | · | · | $20M | · | · | · | $20M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $17M | · | · | · | $16M | · | · | · | · | · | · | · | · | · | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | $0 | $11M | $11M | $11M | $11M | $11M | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $2M | $2M | $2M | $2M | |
| Other Non-current Assets | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $566.4K | $585.9K | $605.3K | $605.3K | $666.9K | $652.5K | $702.0K | $770.1K | $1M | |
| Total Assets | $49M | $50M | $74M | $69M | $68M | $87M | $113M | $107M | $134M | $129M | $193M | $233M | $267M | $392M | $459M | $446M | |
| Accounts Payable | · | · | · | · | · | · | · | · | · | · | · | · | $25M | $74M | $105M | $38M | |
| Current Liabilities | $40M | $38M | $44M | $70M | $32M | $27M | $35M | $23M | $26M | $23M | $44M | $52M | $55M | $95M | $131M | $59M | |
| Capital Leases | $5M | $6M | $7M | $7M | $8M | $9M | $9M | $10M | $11M | $11M | $11M | $12M | $12M | $13M | $14M | $15M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | $32.0K | $32.0K | $32.0K | $32.0K | $32.0K | $32.0K | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | · | · | · | · | · | · | $710.3K | $0 | $0 | |
| Total Liabilities | $45M | $44M | $50M | $77M | $40M | $36M | $45M | $34M | $37M | $35M | $55M | $64M | $67M | $125M | $162M | $90M | |
| Common Stock | $82.3K | $69.8K | $69.0K | $53.6K | $36.7K | $36.7K | $36.1K | $26.1K | $26.0K | $23.4K | $269.7K | $268.1K | $262.7K | $249.5K | $247.5K | $226.5K | |
| Paid-in Capital | $1.85B | $1.84B | $1.84B | $1.81B | $1.80B | $1.80B | $1.80B | $1.78B | $1.78B | $1.75B | $1.74B | $1.73B | $1.73B | $1.70B | $1.69B | $1.64B | |
| Retained Earnings | $-1.84B | $-1.83B | $-1.82B | $-1.82B | $-1.77B | $-1.75B | $-1.73B | $-1.71B | $-1.69B | $-1.65B | $-1.60B | $-1.56B | $-1.53B | $-1.43B | $-1.40B | $-1.29B | |
| AOCI | $-280.0K | $-636.1K | $-638.0K | $-647.4K | $-661.7K | $-661.3K | $-675.7K | $-623.5K | $-689.5K | $-676.2K | $-751.1K | $-691.3K | $-582.8K | $-885.2K | $-649.7K | $-457.9K | |
| Stockholders' Equity | $4M | $6M | $24M | $-8M | $29M | $51M | $69M | $74M | $97M | $94M | $138M | $169M | $199M | $267M | $298M | $355M | |
| Liabilities + Equity | $49M | $50M | $74M | $69M | $68M | $87M | $113M | $107M | $134M | $129M | $193M | $233M | $267M | $392M | $459M | $446M | |
| Shares Outstanding | 82,341,945 | 69,773,237 | 68,996,647 | 53,571,675 | 36,718,527 | 36,674,355 | 36,099,991 | 26,052,452 | 25,963,544 | 23,371,253 | 269,731,481 | 268,073,202 | 262,739,126 | 249,485,264 | 247,504,547 | 226,510,720 |
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 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $768.4K | $698.7K | $764.6K | $757.1K | $834.8K | $1M | $1M | $1M | $2M | $3M | $2M | $3M | $4M | $3M | $8M | $8M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $63.3K | $82.1K | $120.0K | $131.0K | $126.8K | |
| Operating Cash Flow | $-18M | $-22M | $-19M | $-22M | $-21M | $-27M | $-20M | $-27M | $-28M | $-29M | $-29M | $-32M | $-37M | $-67M | $-51M | $-62M | |
| CapEx | $0 | $0 | $127.4K | $68.0K | $30.9K | $59.4K | $0 | $0 | $452.3K | $35.6K | $0 | $23.9K | $297.0K | $86.8K | $717.2K | $0 | |
| Investing Cash Flow | $6M | $3M | $-58.2K | $9M | $5M | $-51.8K | $35M | $14M | $10M | $45M | $-5M | $54M | $19M | $45M | $-10M | $21M | |
| Stock Issued | $3M | $1M | $27M | $7M | $0 | $1M | $13M | $667.1K | $17M | $5M | $708.3K | $3M | $0 | $4M | $43M | $29M | |
| Net Stock Activity | · | $1M | · | · | · | $1M | · | · | · | $5M | · | · | $0 | · | · | $29M | |
| Financing Cash Flow | $17M | $953.8K | $27M | $25M | $-34.8K | $1M | $29M | $660.6K | $33M | $-11M | $698.6K | $3M | $-424.7K | $4M | $43M | $28M | |
| Net Change in Cash | $5M | $-18M | $8M | $12M | $-16M | $-26M | $44M | $-13M | $15M | $5M | $-34M | $24M | $-18M | $-19M | $-18M | $-12M | |
| Free Cash Flow | · | $-22M | · | · | · | $-27M | · | · | · | $-29M | · | · | $-37M | · | · | $-62M |
Profitability 6
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | -38337.0% | · | · | -32945.9% | · | -9152.6% | -16392.0% | -38238.2% | -390.6% | -13276.1% | -36033.3% | |
| Net Margin | · | · | · | · | · | -30140.5% | · | · | -31993.3% | · | -8734.8% | -15725.3% | -35364.8% | -412.8% | -13832.0% | -39720.8% | |
| Pretax Margin | · | · | · | · | · | · | · | · | · | · | -8734.8% | -15725.3% | -35364.8% | -412.8% | -13832.0% | -38633.1% | |
| EBITDA Margin | · | · | · | · | · | -38337.0% | · | · | -32945.9% | · | -9152.6% | -16392.0% | -38238.2% | -390.6% | -13276.1% | -36033.3% | |
| ROA | -10.2% | -28.7% | · | -51.6% | -23.3% | -18.2% | · | -16.8% | -17.6% | -15.4% | -11.6% | -10.3% | -11.4% | -8.2% | -20.6% | -14.4% | |
| ROE | -36.5% | -68.7% | · | -138.2% | -37.5% | -27.0% | · | -23.8% | -24.2% | -20.8% | -16.8% | -15.2% | -14.7% | -10.5% | -26.9% | -16.9% |
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 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | · | 0.8 | 1.7 | 2.6 | · | 3.9 | 4.5 | 4.8 | 4.0 | 3.9 | 4.2 | 3.7 | 3.2 | 6.7 | |
| Quick Ratio | 0.9 | 1.0 | · | 0.7 | 1.5 | 2.5 | · | 3.7 | 4.2 | 4.6 | 3.8 | 3.8 | 4.1 | 3.0 | 2.7 | 6.1 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -177.0 | -113.4 | -118.2 | -140.2 | -114.1 | -332.2 | -228.8 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Receivables Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | · | 0.1 | 2.5 | 0.1 | 0.0 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $65.3K | · | $65.3K | $166.1K | $166.1K | · | $489.2K | $715.2K | $729.4K | $10M | $10M | $10M | $10M | $2M | $1M | |
| Net Income TTM | $-95M | $-108M | · | $-114M | $-101M | $-108M | · | $-122M | $-132M | $-141M | $-148M | $-222M | $-266M | $-286M | $-330M | $-276M | |
| Market Cap | $91M | $121M | · | $125M | $75M | $60M | · | $151M | $210M | $324M | $1.26B | $1.45B | $2.59B | $5.18B | $5.14B | $9.76B | |
| P/E | -0.6 | -0.8 | · | -0.8 | -0.6 | -0.4 | · | -1.2 | -1.4 | -2.2 | -0.9 | -1.3 | -3.4 | -16.5 | -13.8 | -32.9 | |
| P/S | · | 1858.0 | · | 1918.5 | 451.0 | 359.9 | · | 307.8 | 293.3 | 444.8 | 127.7 | 140.8 | 252.2 | 496.6 | 3319.3 | 8599.6 | |
| P/B | 20.7 | 20.0 | · | -16.2 | 2.6 | 1.2 | · | 2.0 | 2.2 | 3.4 | 9.1 | 8.5 | 13.0 | 19.4 | 17.3 | 27.5 | |
| P / Tangible Book | 20.7 | 20.0 | · | · | 2.6 | 1.2 | · | 2.0 | 2.2 | 3.4 | 9.1 | 9.1 | 13.9 | 20.4 | 18.0 | 28.5 | |
| P / Cash Flow | · | -5.6 | · | · | · | -2.2 | · | · | · | -11.3 | · | · | -70.5 | · | · | -157.7 | |
| P / FCF | · | -5.6 | · | · | · | -2.2 | · | · | · | -11.3 | · | · | -69.9 | · | · | -157.7 | |
| Earnings Yield | -166.4% | -130.5% | · | -123.1% | -156.9% | -239.3% | · | -85.0% | -69.7% | -45.6% | -110.5% | -76.1% | -29.1% | -6.1% | -7.2% | -3.0% |
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 | $65.3K | $217.8K | $832.0K | $10M | $2M |
| Operating Margin % | -132871.3% | -51616.9% | -17300.3% | -2607.3% | -16972.3% |
| Net Income | $-85M | $-107M | $-135M | $-280M | $-304M |
| Diluted EPS | $-1.81 | $-3.95 | $-6.09 | $-14.07 | $-17.45 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.4 | 2.8 | 3.6 | 3.3 | 6.8 |
| Quick Ratio | 1.3 | 2.7 | 3.4 | 2.6 | 6.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-89M | $-105M | $-125M | $-217M | $-217M |
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Institutional owners (13F) 118 filers · $38.3M 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 23 (+4 vs prior Q) | 15 (+2 vs prior Q) | 32 (+9 vs prior Q) | 15 (-10 vs prior Q) | -1.7M |
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 | $9,300,258 | 8,454,780 | 24.27% | Shares |
| JANUS HENDERSON GROUP PLC | $5,773,168 | 3,308,406 | 15.06% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $4,015,618 | 3,650,562 | 10.48% | Shares |
| Boxer Capital Management, LLC | $3,129,493 | 2,844,994 | 8.17% | Shares |
| ADAR1 Capital Management, LLC | $2,358,301 | 2,143,910 | 6.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,672,440 | 1,520,400 | 4.36% | Call option |
| D. E. Shaw & Co., Inc. | $1,486,822 | 1,351,656 | 3.88% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,363,756 | 1,239,778 | 3.56% | Shares |
| Eversept Partners, LP | $1,138,896 | 1,035,360 | 2.97% | Shares |
| MILLENNIUM MANAGEMENT LLC | $875,718 | 796,107 | 2.29% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $711,196 | 645,884 | 1.86% | Shares |
| VANGUARD GROUP INC | $682,195 | 392,066 | 1.78% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $528,846 | 480,769 | 1.38% | Shares |
| Caption Management, LLC | $526,845 | 478,950 | 1.37% | Shares |
| Caption Management, LLC | $440,000 | 400,000 | 1.15% | Call option |
| RENAISSANCE TECHNOLOGIES LLC | $397,473 | 361,339 | 1.04% | Shares |
| STATE STREET CORP | $370,271 | 336,610 | 0.97% | Shares |
| CITADEL ADVISORS LLC | $351,450 | 319,500 | 0.92% | Call option |
| TUDOR INVESTMENT CORP ET AL | $330,000 | 300,000 | 0.86% | Call option |
| DIADEMA PARTNERS LP | $302,720 | 275,200 | 0.79% | Call option |
| Quadrature Capital Ltd | $284,821 | 258,928 | 0.74% | Shares |
| NORTHERN TRUST CORP | $191,785 | 174,350 | 0.50% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $190,300 | 173,000 | 0.50% | Shares |
| NOMURA HOLDINGS INC | $165,000 | 150,000 | 0.43% | Shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $147,012 | 133,648 | 0.38% | Shares |
| GMT Capital Corp | $138,731 | 126,119 | 0.36% | Shares |
| JANE STREET GROUP, LLC | $135,953 | 123,594 | 0.35% | Shares |
| TWO SIGMA ADVISERS, LP | $128,240 | 73,701 | 0.33% | Shares |
| XTX Topco Ltd | $116,416 | 105,833 | 0.30% | Shares |
| GOLDMAN SACHS GROUP INC | $103,092 | 93,720 | 0.27% | Shares |
| CITADEL ADVISORS LLC | $92,620 | 84,200 | 0.24% | Put option |
| Invesco Ltd. | $88,372 | 80,338 | 0.23% | Shares |
| Green Alpha Advisors, LLC | $74,861 | 68,055 | 0.20% | Shares |
| JANE STREET GROUP, LLC | $71,940 | 65,400 | 0.19% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $63,690 | 57,900 | 0.17% | Put option |
| MORGAN STANLEY | $48,980 | 44,527 | 0.13% | Shares |
| RAYMOND JAMES FINANCIAL INC | $44,306 | 40,278 | 0.12% | Shares |
| Squarepoint Ops LLC | $40,030 | 36,391 | 0.10% | Shares |
| Engineers Gate Manager LP | $37,060 | 33,691 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $33,259 | 30,235 | 0.09% | Shares |
| Headlands Technologies LLC | $32,878 | 29,889 | 0.09% | Shares |
| CITADEL ADVISORS LLC | $32,034 | 29,122 | 0.08% | Shares |
| ZACKS INVESTMENT MANAGEMENT | $29,079 | 26,435 | 0.08% | Shares |
| Nuveen Asset Management, LLC | $22,004 | 12,024 | 0.06% | Shares |
| BlackRock, Inc. | $20,770 | 18,882 | 0.05% | Shares |
| Prime Capital Investment Advisors, LLC | $18,839 | 17,126 | 0.05% | Shares |
| LPL Financial LLC | $18,826 | 17,114 | 0.05% | Shares |
| StoneX Group Inc. | $18,077 | 14,252 | 0.05% | Shares |
| Persistent Asset Partners Ltd | $17,885 | 511 | 0.05% | Call option |
| TWO SIGMA SECURITIES, LLC | $17,554 | 15,958 | 0.05% | Shares |
| STEPHENS INC /AR/ | $17,050 | 15,500 | 0.04% | Shares |
| AXQ CAPITAL, LP | $15,249 | 13,863 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $14,631 | 13,301 | 0.04% | Shares |
| HighTower Advisors, LLC | $14,003 | 12,730 | 0.04% | Shares |
| Mayflower Financial Advisors, LLC | $13,815 | 12,559 | 0.04% | Shares |
| MCF Advisors LLC | $12,402 | 11,274 | 0.03% | Shares |
| SIGNATURE ESTATE & INVESTMENT ADVISORS LLC | $12,131 | 11,028 | 0.03% | Shares |
| Caitong International Asset Management Co., Ltd | $11,024 | 10,022 | 0.03% | Shares |
| SBI Securities Co., Ltd. | $7,495 | 6,814 | 0.02% | Shares |
| BARCLAYS PLC | $3,836 | 3,487 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $3,000 | 3,011 | 0.01% | Shares |
| TD Waterhouse Canada Inc. | $2,812 | 2,383 | 0.01% | Shares |
| Rockefeller Capital Management L.P. | $2,313 | 2,103 | 0.01% | Shares |
| Activest Wealth Management | $1,650 | 1,500 | 0.00% | Shares |
| Steward Partners Investment Advisory, LLC | $1,519 | 1,381 | 0.00% | Shares |
| Optiver Holding B.V. | $1,458 | 1,325 | 0.00% | Shares |
| CROWLEY WEALTH MANAGEMENT, INC. | $945 | 404 | 0.00% | Shares |
| IFG Advisory, LLC | $917 | 833 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $584 | 529 | 0.00% | Shares |
| OSAIC HOLDINGS, INC. | $578 | 529 | 0.00% | Shares |
| NFSG Corp | $394 | 359 | 0.00% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $387 | 352 | 0.00% | Shares |
| MJT & Associates Financial Advisory Group, Inc. | $358 | 325 | 0.00% | Shares |
| PNC Financial Services Group, Inc. | $330 | 300 | 0.00% | Shares |
| Pioneer Family Office, LLC | $320 | 291 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $305 | 277 | 0.00% | Shares |
| GSA CAPITAL PARTNERS LLP | $292 | 265,011 | 0.00% | Shares |
| VSM Wealth Advisory, LLC | $275 | 250 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $264 | 240 | 0.00% | Shares |
| HARBOUR INVESTMENTS, INC. | $261 | 237 | 0.00% | Shares |
| CWM, LLC | $254 | 146 | 0.00% | Shares |
| Decker Retirement Planning Inc. | $185 | 168 | 0.00% | Shares |
| Federation des caisses Desjardins du Quebec | $155 | 141 | 0.00% | Shares |
| HRT FINANCIAL LP | $154 | 140,432 | 0.00% | Shares |
| UBS Group AG | $141 | 128 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $122 | 111 | 0.00% | Shares |
| Arax Advisory Partners | $113 | 103 | 0.00% | Shares |
| Aberdeen Wealth Management LLC | $100 | 91 | 0.00% | Shares |
| Smartleaf Asset Management LLC | $93 | 83 | 0.00% | Shares |
| Blume Capital Management, Inc. | $92 | 83 | 0.00% | Shares |
| PITTENGER & ANDERSON INC | $85 | 77 | 0.00% | Shares |
| Ameritas Investment Partners, Inc. | $70 | 64 | 0.00% | Shares |
| MCDONALD PARTNERS LLC | $64 | 58 | 0.00% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $64 | 58 | 0.00% | Shares |
| JPMORGAN CHASE & CO | $52 | 46 | 0.00% | Shares |
| Allworth Financial LP | $52 | 47 | 0.00% | Shares |
| 1 NORTH WEALTH SERVICES LLC | $45 | 41 | 0.00% | Shares |
| Pinnacle Wealth Planning Services, Inc. | $45 | 41 | 0.00% | Shares |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | $43 | 36 | 0.00% | Shares |
| Greenwich Wealth Management LLC | $35 | 31,999 | 0.00% | Shares |
Company insiders 42 insiders · 12 officers · 24 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jacqueline Elizabeth Shea | Chief Executive Officer | May 20, 2025 A | 59,685 | 0 | 0 | $0 |
| Jong Joseph Kim | Chief Executive Officer | March 11, 2022 M | 1,422,627 | 0 | 0 | $0 |
| Niranjan Sardesai | Chief Operating Officer | March 10, 2018 M | 123,486 | 0 | 0 | $0 |
| Michael John Sumner | Chief Medical Officer | June 30, 2025 M | 17,850 | 0 | 0 | $0 |
| Laurent Humeau | Chief Scientific Officer | May 20, 2025 A | 32,622 | 0 | 0 | $0 |
| Mark Bagarazzi | Chief Medical Officer | March 5, 2019 M | 100,672 | 0 | 0 | $0 |
| Kevin Rassas | Sr. VP Business Development | Nov. 16, 2009 M | 726,088 | 0 | 0 | $0 |
| Cheryl Jo White | Chief Medical Officer | June 29, 2009 M | — | 0 | 0 | $0 |
| Dietmar P Rabussay | V.P. Research & Development | March 8, 2007 A | 17,386 | 0 | 0 | $0 |
| Robert S Goodenew | V.P. Corporate Development | Dec. 20, 2006 M | — | 0 | 0 | $0 |
| George F. Mchugh III | Vice President, Operations | March 8, 2006 A | 1 | 0 | 0 | $0 |
| Brook G Riggins | V.P. Finance & Corp. Comm. | Nov. 7, 2003 A | — | 0 | 0 | $0 |
| Wendy L Yarno | Director | May 20, 2026 A | 10,512 | 0 | 0 | $0 |
| Ann Calby Miller | Director | May 21, 2025 M | 9,877 | 0 | 0 | $0 |
| Roger D Dansey | Director | May 21, 2025 M | 8,916 | 0 | 0 | $0 |
| David B. Weiner | Director | May 21, 2025 M | 86,620 | 0 | 0 | $0 |
| Jay Shepard | Director | May 21, 2025 M | 9,209 | 0 | 0 | $0 |
| Angel Cabrera | Director | May 8, 2020 M | 75,602 | 0 | 0 | $0 |
| Morton Collins | Director | May 11, 2019 M | 168,130 | 0 | 0 | $0 |
| Avtar S Dhillon | Director | Dec. 6, 2018 M | 106,002 | 0 | 0 | $0 |
| Adel Mahmoud | Director | May 12, 2018 M | 22,669 | 0 | 0 | $0 |
| George Bickerstaff | Director | March 21, 2018 M | 4,090 | 0 | 0 | $0 |
| Nancy Wysenski | Director | May 13, 2016 A | 5,000 | 0 | 0 | $0 |
| Keith H Wells | Director | May 13, 2011 A | — | 0 | 0 | $0 |
| David J Williams | Director | June 16, 2010 A | — | 0 | 0 | $0 |
| Chin Cheong Chong | Director | Dec. 9, 2008 A | — | 0 | 0 | $0 |
| James L Heppell | Director | Aug. 14, 2008 A | 2 | 0 | 0 | $0 |
| Stephen Rietiker | Director | May 2, 2008 A | — | 0 | 0 | $0 |
| Robert William Rieder | Director | May 2, 2008 A | — | 0 | 0 | $0 |
| Riaz Amirali Bandali | Director | May 2, 2008 A | 2 | 0 | 0 | $0 |
| Tazdin Esmail | Director | May 2, 2008 A | 2 | 0 | 0 | $0 |
| Felix Theeuwes | Director | June 7, 2006 A | 2 | 0 | 0 | $0 |
| Eugene A Larson | Director | May 13, 2005 A | 3 | 0 | 0 | $0 |
| Gordon Politeski | Director | Aug. 8, 2003 A | — | 0 | 0 | $0 |
| MARXE AUSTIN W & GREENHOUSE DAVID M | 10% owner | Dec. 3, 2012 S | 3,919,706 | 0 | 0 | $0 |
| Lota S. Zoth | — | May 20, 2026 A | 8,726 | 0 | 0 | $0 |
| Simon X Benito | — | May 20, 2026 A | 12,191 | 0 | 0 | $0 |
| Peter Kies | — | May 20, 2026 A | 42,854 | 0 | 0 | $0 |
| Tee Khiang Ng | — | Sept. 30, 2009 A | — | 0 | 0 | $0 |
| Punit Dhillon | — | Sept. 30, 2009 A | — | 0 | 0 | $0 |
| Michael Fons | — | Sept. 30, 2009 A | — | 0 | 0 | $0 |
| Beng Lee Gan | — | May 2, 2008 A | — | 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 |
|---|---|---|---|---|---|
| Dr. J. Joseph Kim | June 10, 2009 | — | Initial filing | — | SEC |
| Simon Benito, Tee Khiang Ng and Morton Collins, Voting Trustees Under Voting Trust Agreement Dated June 1, 2009 among the Issuer, the Voting Trustees and the Stockholders listed therein. | June 10, 2009 | — | 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 4 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.