IRON Disc Medicine, Inc. - Common Stock
$80.86
Price · Aug 19, 2026
Fundamentals as of Jul 30, 2026
52W Range
$56–$100
58% of range
Analyst Rating
BUY
19 analysts
Price Target
$101
+25% upside
P/E (TTM)
-13.5
ROE
-31.3%
Net Profit Margin
—
IRON Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$80.86
Market Cap
$3.06B
P/E (TTM)
-13.5
EPS (TTM)
$-6.01
Revenue (TTM)
—
Div Yield
—
ROE
-31.3%
Debt/Equity
—
52W Range
$56 – $100
IRON 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
—
EPS
$-6.01
2021-12-31
→
2025-12-31
Free Cash Flow
$-181M
2021-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
IRON
Peer Median
P/E (TTM)
-13.5
—
P/B
4.1
3.3
Price / FCF
-16.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
IRON
Peer Median
ROA
-32.6%
-36.2%
ROE
-31.3%
-43.7%
ROIC
-32.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
IRON
Peer Median
Current Ratio
21.9
9.7
Quick Ratio
21.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
IRON
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
IRON
Peer Median
IRON Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
19 analysts
- Strong Buy 7 36.8%
- Buy 11 57.9%
- Hold 1 5.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-15
Median
$100.00
Now
$80.86
Low
$79.00
High
$128.00
Median target
$100.00
+23.7%
Mean target
$101.17
+25.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-1.54 | $-1.78 | 0.24% |
| March 31, 2026 | $-1.65 | $-1.75 | 0.10% |
| Dec. 31, 2025 | $-1.64 | $-1.78 | 0.14% |
| Sept. 30, 2025 | $-1.77 | $-1.49 | -0.28% |
| June 30, 2025 | $-1.58 | $-1.18 | -0.40% |
| March 31, 2025 | $-1.02 | $-1.16 | 0.14% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| IRON | $3.01B | -13.2 | — | — | -31.3% | — |
| GRAL | $3.45B | -7.7 | 17.2% | -277.5% | -16.7% | — |
| IOVA | $1.12B | -2.5 | 60.6% | -148.4% | -56.0% | — |
| ARQT | $3.58B | -223.4 | 91.3% | -4.3% | -9.8% | — |
| IMNM | $2.43B | -8.8 | -23.2% | -3060.0% | -47.0% | — |
| CLDX | $1.81B | -7.0 | -78.0% | -16748.0% | -43.8% | — |
| BEAM | $2.82B | -34.2 | 120.0% | -57.2% | -7.0% | — |
| NRIX | $1.80B | -5.8 | 53.9% | -314.9% | -53.6% | — |
| SLS | $577M | -15.1 | — | — | -55.4% | — |
| RARE | $2.22B | -3.9 | 20.2% | -85.4% | -1613.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| R&D Expense | $171M | $97M | $69M | $33M | $25M | $28M | |
| SG&A Expense | $65M | $33M | $22M | $14M | $6M | $6M | |
| Operating Expenses | $236M | $130M | $91M | $47M | $31M | $34M | |
| Operating Income | $-236M | $-130M | $-91M | $-47M | $-31M | $-34M | |
| Interest Expense | · | · | · | · | $2M | $7M | |
| Other Non-op | $45.0K | $-2.0K | $-2.0K | $0 | $-5M | · | |
| Pretax Income | $-212M | $-109M | $-76M | $-47M | · | · | |
| Income Tax | $361.0K | $355.0K | $99.0K | $0 | · | · | |
| Net Income | $-212M | $-109M | $-76M | $-47M | $-36M | $-41M | |
| EPS (Basic) | $-6.01 | $-3.96 | $-3.42 | $-45.05 | $-40.95 | · | |
| EPS (Diluted) | $-6.01 | $-3.96 | $-3.42 | $-45.05 | $-40.95 | · | |
| Shares (Basic) | 35,295,663 | 27,606,022 | 22,315,877 | 1,039,490 | 878,407 | · | |
| Shares (Diluted) | 35,295,663 | 27,606,022 | 22,315,877 | 1,039,490 | 878,407 | · | |
| EBITDA | $-236M | $-130M | $-91M | $-47M | $-69M | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $91M | $192M | $360M | $195M | $88M | $5M | |
| Short-term Investments | $700M | $297M | $0 | · | · | · | |
| Prepaid Expense | $13M | $4M | $5M | $4M | $2M | $562.0K | |
| Current Assets | $804M | $494M | $366M | $198M | $90M | $5M | |
| PP&E (Net) | $1M | $751.0K | $170.0K | $168.0K | $106.0K | $294.0K | |
| PP&E (Gross) | · | · | · | · | $0 | $955.0K | |
| Accum. Depreciation | · | $401.0K | $245.0K | $145.0K | $56.0K | $661.0K | |
| Other Non-current Assets | $726.0K | $838.0K | $234.0K | $116.0K | $180.0K | · | |
| Total Assets | $807M | $497M | $368M | $200M | $92M | $8M | |
| Accounts Payable | $9M | $8M | $13M | $16M | $3M | $2M | |
| Accrued Liabilities | $16M | $8M | $6M | $6M | $4M | $492.6K | |
| Current Liabilities | $37M | $23M | $21M | $23M | $13M | $25M | |
| Capital Leases | $1M | $2M | $1M | $1M | $1M | · | |
| Total Liabilities | $67M | $53M | $23M | $24M | $15M | $30M | |
| Long-term Debt | $29M | $28M | $0 | · | · | $14M | |
| Common Stock | $4.0K | $3.0K | $2.0K | $2.0K | $0 | $2.0K | |
| Paid-in Capital | $1.25B | $741M | $534M | $289M | $1M | $91M | |
| Retained Earnings | $-510M | $-298M | $-189M | $-112M | $-65M | $-113M | |
| AOCI | $965.0K | $289.0K | $0 | · | · | · | |
| Stockholders' Equity | $740M | $444M | $345M | $177M | $-64M | $-29M | |
| Liabilities + Equity | $807M | $497M | $368M | $200M | $92M | $8M | |
| Shares Outstanding | 37,890,616 | 29,865,030 | 24,360,233 | 17,403,315 | 909,418 | 15,565,380 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $281.0K | $156.0K | $100.0K | $89.0K | $32.0K | · | |
| Stock-based Comp | $34M | $17M | $6M | $2M | $507.0K | $983.0K | |
| Deferred Tax | $0 | · | · | · | · | · | |
| Other Non-cash | $-3M | $-2M | $-3M | $2M | · | · | |
| Operating Cash Flow | $-180M | $-94M | $-73M | $-42M | $-28M | $-33M | |
| CapEx | $933.0K | $505.0K | $89.0K | $151.0K | $68.0K | $22.0K | |
| Investing Cash Flow | $-394M | $-292M | $-89.0K | $-151.0K | $-68.0K | $-22.0K | |
| Debt Issued | $0 | $29M | $0 | · | · | · | |
| Net Debt Issued | $0 | $29M | · | · | · | · | |
| Stock Issued | · | · | $0 | $54M | $0 | $20M | |
| Net Stock Activity | · | · | $0 | $54M | $0 | · | |
| Financing Cash Flow | $473M | $218M | $239M | $149M | $90M | $34M | |
| Net Change in Cash | $-101M | $-168M | $166M | $107M | $62M | $2M | |
| Taxes Paid | $349.0K | $300.0K | $100.0K | $0 | $0 | · | |
| Free Cash Flow | $-181M | $-94M | $-74M | $-42M | $-60M | · |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| ROA | -32.6% | -25.3% | -26.9% | -32.0% | -96.6% | · | |
| ROE | -31.3% | -24.0% | -21.7% | -120.0% | -54.1% | · | |
| ROIC | -32.0% | -29.3% | -26.4% | · | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 21.9 | 21.2 | 17.1 | 8.8 | 9.4 | 2.2 | |
| Quick Ratio | 21.6 | 21.0 | 16.8 | 8.6 | 9.2 | 2.0 | |
| Interest Coverage | · | · | · | · | -32.0 | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-212M | $-109M | $-76M | $-47M | $-36M | $-41M | |
| Market Cap | $3.01B | $1.89B | $1.41B | $346M | $3.77B | · | |
| P/E | -13.2 | -16.0 | -16.9 | -0.4 | -2.1 | · | |
| P/B | 4.1 | 4.3 | 4.1 | 2.0 | 30.2 | · | |
| P / Tangible Book | 4.1 | 4.3 | 4.1 | 2.0 | · | · | |
| P / Cash Flow | -16.7 | -20.2 | -19.2 | -8.2 | -63.2 | · | |
| P / FCF | -16.6 | -20.1 | -19.1 | -8.2 | -63.1 | · | |
| Earnings Yield | -7.6% | -6.2% | -5.9% | -226.5% | -46.9% | · |
Income Statement 14
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $47M | $46M | $46M | $50M | $46M | $28M | $25M | $25M | $23M | $24M | $23M | $14M | $12M | $20M | $10M | $8M | |
| SG&A Expense | $18M | $24M | $21M | $17M | $15M | $12M | $10M | $8M | $7M | $8M | $7M | $5M | $5M | $5M | $5M | $3M | |
| Operating Expenses | $65M | $70M | $67M | $68M | $61M | $40M | $35M | $33M | $31M | $31M | $30M | $19M | $17M | $25M | $15M | $10M | |
| Operating Income | $-65M | $-70M | $-67M | $-68M | $-61M | $-40M | $-35M | $-33M | $-31M | $-31M | $-30M | $-19M | $-17M | $-25M | $-15M | $-10M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $41.0K | |
| Other Non-op | $-12.0K | $22.0K | $-2.0K | $-18.0K | $68.0K | $-3.0K | $3.0K | $9.0K | $-13.0K | $-1.0K | $-10.0K | $13.0K | $-5.0K | $0 | $-107.0K | $0 | |
| Pretax Income | $-59M | $-63M | $-60M | $-62M | $-55M | $-34M | $-29M | $-26M | $-26M | $-27M | $-24M | $-14M | $-16M | $-23M | $-11M | $-16M | |
| Income Tax | $69.0K | $51.0K | $88.0K | $102.0K | $52.0K | $119.0K | $176.0K | $114.0K | $60.0K | $5.0K | $32.0K | $20.0K | $24.0K | $23.0K | $0 | $0 | |
| Net Income | $-60M | $-64M | $-61M | $-62M | $-55M | $-34M | $-29M | $-27M | $-26M | $-27M | $-24M | $-14M | $-16M | $-23M | $-11M | $-16M | |
| EPS (Basic) | $-1.54 | $-1.65 | $-1.64 | $-1.77 | $-1.58 | $-1.02 | $-0.95 | $-0.89 | $-1.03 | $-1.09 | $-0.90 | $-0.58 | $-0.74 | $-1.20 | $-7.42 | $-16.82 | |
| EPS (Diluted) | $-1.54 | $-1.65 | $-1.64 | $-1.77 | $-1.58 | $-1.02 | $-0.95 | $-0.89 | $-1.03 | $-1.09 | $-0.90 | $-0.58 | $-0.74 | $-1.20 | $-7.42 | $-16.82 | |
| Shares (Basic) | 38,685,565 | 38,491,433 | -68,232,365 | 35,178,691 | 35,024,592 | 33,324,745 | -52,788,441 | 29,935,551 | 25,649,043 | 24,809,869 | -42,440,809 | 24,316,817 | 21,484,955 | 18,954,914 | -1,789,283 | 960,317 | |
| Shares (Diluted) | 38,685,565 | 38,491,433 | -68,232,365 | 35,178,691 | 35,024,592 | 33,324,745 | -52,788,441 | 29,935,551 | 25,649,043 | 24,809,869 | -42,440,809 | 24,316,817 | 21,484,955 | 18,954,914 | -1,789,283 | 960,317 | |
| EBITDA | $-65M | $-69M | · | $-68M | $-61M | $-40M | · | $-33M | $-31M | $-31M | · | $-19M | $-17M | $-25M | · | $-4M |
Balance Sheet 21
| 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 | $99M | $89M | $91M | $141M | $127M | $123M | $192M | $193M | $281M | $343M | · | $371M | $378M | $236M | $195M | $102M | |
| Short-term Investments | $619M | $641M | $700M | $475M | $523M | $572M | $297M | $295M | $220M | · | · | · | · | · | · | · | |
| Prepaid Expense | $15M | $17M | $13M | $11M | $12M | $11M | $4M | $6M | $7M | $9M | · | $4M | $4M | $6M | $4M | $3M | |
| Current Assets | $733M | $747M | $804M | $627M | $662M | $706M | $494M | $493M | $508M | $352M | · | $374M | $382M | $242M | $198M | $105M | |
| PP&E (Net) | $980.0K | $1M | $1M | $1M | $1M | $1M | $751.0K | $79.0K | $98.0K | $211.0K | · | $183.0K | $159.0K | $180.0K | $168.0K | · | |
| Accum. Depreciation | · | · | · | · | · | · | · | $392.0K | $381.0K | $271.0K | · | $220.0K | $195.0K | $170.0K | $145.0K | · | |
| Other Non-current Assets | $496.0K | $721.0K | $726.0K | $840.0K | $840.0K | $839.0K | $838.0K | $236.0K | $236.0K | $235.0K | · | $116.0K | $116.0K | $116.0K | $116.0K | $1M | |
| Total Assets | $735M | $750M | $807M | $630M | $665M | $709M | $497M | $495M | $510M | $354M | · | $376M | $384M | $244M | $200M | $106M | |
| Accounts Payable | $7M | $12M | $9M | $7M | $6M | $7M | $8M | $4M | $5M | $5M | · | $8M | $5M | $6M | $16M | $1M | |
| Accrued Liabilities | $9M | $7M | $16M | $11M | $6M | $4M | $8M | $6M | $4M | $9M | · | $6M | $4M | $4M | $6M | · | |
| Current Liabilities | $30M | $31M | $37M | $27M | $21M | $19M | $23M | $25M | $20M | $15M | · | $14M | $10M | $10M | $23M | $1M | |
| Capital Leases | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $1M | $1M | · | $2M | $2M | $945.0K | $1M | · | |
| Total Liabilities | $91M | $62M | $67M | $57M | $51M | $49M | $53M | $27M | $21M | $16M | · | $18M | $13M | $11M | $24M | $1M | |
| Long-term Debt | $59M | $29M | $29M | $29M | $29M | $29M | $28M | · | · | · | · | · | · | · | · | · | |
| Common Stock | $4.0K | $4.0K | $4.0K | $4.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $2.0K | · | $2.0K | $2.0K | $2.0K | $2.0K | $4.0K | |
| Paid-in Capital | $1.28B | $1.26B | $1.25B | $1.02B | $1.00B | $992M | $741M | $736M | $731M | $554M | · | $524M | $522M | $368M | $289M | $315M | |
| Retained Earnings | $-633M | $-574M | $-510M | $-450M | $-387M | $-332M | $-298M | $-269M | $-242M | $-216M | · | $-165M | $-151M | $-135M | $-112M | $-210M | |
| AOCI | $-2M | $-571.0K | $965.0K | $718.0K | $273.0K | $535.0K | $289.0K | $741.0K | $-60.0K | · | · | · | · | · | · | · | |
| Stockholders' Equity | $644M | $688M | $740M | $573M | $614M | $660M | $444M | $468M | $489M | $338M | $345M | $359M | $371M | $233M | $177M | $105M | |
| Liabilities + Equity | $735M | $750M | $807M | $630M | $665M | $709M | $497M | $495M | $510M | $354M | · | $376M | $384M | $244M | $200M | $106M | |
| Shares Outstanding | 38,345,666 | 38,190,464 | 37,890,616 | 35,006,636 | 34,694,882 | 34,581,222 | 29,865,030 | 29,748,154 | 29,707,997 | 24,695,885 | · | 24,139,078 | 22,850,894 | 19,575,242 | 17,403,315 | 43,299,453 |
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 | $90.0K | $89.0K | $89.0K | $87.0K | $85.0K | $20.0K | $9.0K | $11.0K | $110.0K | $26.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $24.0K | |
| Stock-based Comp | $14M | $12M | $10M | $10M | $8M | $6M | $4M | $4M | $4M | $4M | $2M | $1M | $1M | $1M | $993.0K | $-3M | |
| Other Non-cash | · | $-11M | · | · | · | $-14M | · | · | · | $-11M | · | · | · | $-14M | · | · | |
| Operating Cash Flow | $-44M | $-62M | $-43M | $-48M | $-48M | $-41M | $-28M | $-17M | $-15M | $-34M | $-18M | $-7M | $-13M | $-35M | $-10M | $-7M | |
| CapEx | $0 | $0 | $20.0K | $26.0K | $36.0K | $851.0K | $449.0K | $-8.0K | $-3.0K | $67.0K | $3.0K | $45.0K | $12.0K | $29.0K | $12.0K | $19.0K | |
| Investing Cash Flow | $22M | $58M | $-223M | $50M | $52M | $-273M | $-1M | $-71M | $-220M | $-67.0K | $-3.0K | $-45.0K | $-12.0K | $-29.0K | $-12.0K | $-19.0K | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | $34M | · | · | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | $34M | · | · | |
| Financing Cash Flow | $32M | $2M | $217M | $12M | $892.0K | $244M | $29M | $426.0K | $173M | $16M | $8M | $460.0K | $154M | $77M | $149M | $3M | |
| Net Change in Cash | $10M | $-2M | $-50M | $13M | $5M | $-70M | $-202.0K | $-88M | $-62M | $-18M | $-10M | $-7M | $141M | $42M | $139M | $-4M | |
| Taxes Paid | · | · | · | · | · | · | $263.0K | $4.0K | $33.0K | $0 | $22.0K | $78.0K | $0 | $0 | $0 | · | |
| Free Cash Flow | · | $-62M | · | · | · | $-42M | · | · | · | $-34M | · | · | · | $-35M | · | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -8.5% | -8.7% | · | -11.1% | -9.4% | -6.4% | · | -6.1% | -5.9% | -9.0% | · | -5.9% | -6.4% | -12.4% | · | -2.5% | |
| ROE | -9.5% | -9.4% | · | -12.0% | -10.0% | -6.8% | · | -6.4% | -6.1% | -9.4% | · | -6.1% | -6.7% | -13.2% | · | -2.7% | |
| ROIC | -10.1% | -10.1% | · | -11.8% | -10.0% | -6.1% | · | -7.0% | -6.3% | -9.3% | · | -5.3% | -4.7% | -10.8% | · | · |
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 | 24.1 | 24.0 | · | 23.5 | 32.1 | 37.7 | · | 19.4 | 25.0 | 23.7 | · | 26.0 | 39.4 | 24.3 | · | 71.5 | |
| Quick Ratio | 23.6 | 23.4 | · | 23.0 | 31.5 | 37.1 | · | 19.1 | 24.7 | 23.1 | · | 25.7 | 39.0 | 23.7 | · | 69.5 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | -91.1 |
Valuation (TTM) 8
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-241M | $-215M | · | $-178M | $-142M | $-114M | · | $-94M | $-83M | $-80M | · | $-69M | $-64M | $-58M | · | $-54M | |
| Market Cap | $2.80B | $2.44B | · | $2.31B | $1.84B | $1.72B | · | $1.46B | $1.34B | $1.54B | · | $1.13B | $1.01B | $415M | · | $2.13B | |
| P/E | -11.2 | -10.6 | · | -12.6 | -11.7 | -12.3 | · | -13.7 | -13.1 | -17.2 | · | -2.4 | -1.5 | -0.5 | · | -1.3 | |
| P/B | 4.4 | 3.5 | · | 4.0 | 3.0 | 2.6 | · | 3.1 | 2.7 | 4.5 | · | 3.2 | 2.7 | 1.8 | · | 20.4 | |
| P / Tangible Book | 4.4 | 3.5 | · | 4.0 | 3.0 | 2.6 | · | 3.1 | 2.7 | 4.5 | · | 3.2 | 2.7 | 1.8 | · | 20.4 | |
| P / Cash Flow | · | -39.2 | · | · | · | -41.5 | · | · | · | -45.8 | · | · | · | -11.7 | · | · | |
| P / FCF | · | -39.2 | · | · | · | -40.7 | · | · | · | -45.7 | · | · | · | -11.7 | · | · | |
| Earnings Yield | -8.9% | -9.4% | · | -8.0% | -8.5% | -8.1% | · | -7.3% | -7.6% | -5.8% | · | -41.2% | -65.1% | -183.2% | · | -77.4% |
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 | |
|---|---|---|---|---|---|
| Net Income | $-212M | $-109M | $-76M | $-47M | $-36M |
| Diluted EPS | $-6.01 | $-3.96 | $-3.42 | $-45.05 | $-40.95 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 21.9 | 21.2 | 17.1 | 8.8 | 9.4 |
| Quick Ratio | 21.6 | 21.0 | 16.8 | 8.6 | 9.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-181M | $-94M | $-74M | $-42M | $-60M |
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Institutional owners (13F) 239 filers · $2.5B 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 |
|---|---|---|---|---|
| 52 (-3 vs prior Q) | 21 (-16 vs prior Q) | 73 (-9 vs prior Q) | 64 (+24 vs prior Q) | +1.3M |
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 | $206,953,287 | 2,829,550 | 8.25% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $179,209,164 | 2,450,221 | 7.14% | Shares |
| VANGUARD GROUP INC | $120,966,365 | 1,523,314 | 4.82% | Shares |
| STATE STREET CORP | $120,595,865 | 1,648,836 | 4.81% | Shares |
| Vestal Point Capital, LP | $113,367,000 | 1,550,000 | 4.52% | Shares |
| Atlas Venture Life Science Advisors, LLC | $110,724,818 | 1,513,875 | 4.41% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $100,130,635 | 1,369,027 | 3.99% | Shares |
| Frazier Life Sciences Management, L.P. | $99,093,875 | 1,354,852 | 3.95% | Shares |
| TCG Crossover Management, LLC | $98,143,787 | 1,341,862 | 3.91% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $90,922,967 | 1,243,136 | 3.62% | Shares |
| BVF INC/IL | $84,375,182 | 1,153,612 | 3.36% | Shares |
| Woodline Partners LP | $70,088,672 | 958,281 | 2.79% | Shares |
| Siren, L.L.C. | $64,977,649 | 888,401 | 2.59% | Shares |
| Logos Global Management LP | $63,997,500 | 875,000 | 2.55% | Shares |
| Opaleye Management Inc. | $62,534,700 | 855,000 | 2.49% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $49,411,270 | 675,408 | 1.97% | Shares |
| DEERFIELD MANAGEMENT COMPANY, L.P. | $48,052,980 | 657,000 | 1.92% | Shares |
| Bellevue Group AG | $40,958,400 | 560,000 | 1.63% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $39,242,462 | 536,539 | 1.56% | Shares |
| Saturn V Capital Management LP | $38,378,752 | 524,730 | 1.53% | Shares |
| ARMISTICE CAPITAL, LLC | $33,644,400 | 460,000 | 1.34% | Shares |
| JENNISON ASSOCIATES LLC | $32,146,492 | 439,520 | 1.28% | Shares |
| Aberdeen Group plc | $32,048,046 | 438,174 | 1.28% | Shares |
| Palo Alto Investors LP | $30,473,488 | 416,646 | 1.21% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $28,938,480 | 395,651 | 1.15% | Shares |
| Pictet Asset Management Holding SA | $28,186,328 | 385,375 | 1.12% | Shares |
| Assenagon Asset Management S.A. | $28,097,316 | 384,158 | 1.12% | Shares |
| Foresite Capital Management V, LLC | $27,359,407 | 374,069 | 1.09% | Shares |
| ORBIMED ADVISORS LLC | $26,150,110 | 357,535 | 1.04% | Shares |
| BAKER BROS. ADVISORS LP | $25,573,913 | 349,657 | 1.02% | Shares |
| LOOMIS SAYLES & CO L P | $23,226,924 | 317,568 | 0.93% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $20,620,872 | 281,937 | 0.82% | Shares |
| Octagon Capital Advisors LP | $19,747,800 | 270,000 | 0.79% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $18,824,919 | 257,382 | 0.75% | Shares |
| Checkpoint Capital L.P. | $17,562,743 | 240,125 | 0.70% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $16,470,982 | 225,198 | 0.66% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $13,508,592 | 184,695 | 0.54% | Shares |
| Catalio Capital Management, LP | $11,657,346 | 159,384 | 0.46% | Shares |
| Caption Management, LLC | $10,971,000 | 150,000 | 0.44% | Call option |
| Sofinnova Investments, Inc. | $10,695,920 | 146,239 | 0.43% | Shares |
| Bain Capital Life Sciences Investors, LLC | $10,329,855 | 141,234 | 0.41% | Shares |
| TWO SIGMA INVESTMENTS, LP | $10,001,895 | 136,750 | 0.40% | Shares |
| Alyeska Investment Group, L.P. | $9,142,500 | 125,000 | 0.36% | Shares |
| Ensign Peak Advisors, Inc | $8,931,199 | 122,111 | 0.36% | Shares |
| Trexquant Investment LP | $7,877,105 | 107,699 | 0.31% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $7,809,085 | 106,769 | 0.31% | Shares |
| MILLENNIUM MANAGEMENT LLC | $7,770,979 | 106,248 | 0.31% | Shares |
| BANK OF AMERICA CORP /DE/ | $6,884,814 | 94,132 | 0.27% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $6,055,992 | 82,800 | 0.24% | Shares |
| Squarepoint Ops LLC | $5,549,278 | 75,872 | 0.22% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,383,104 | 73,600 | 0.21% | Call option |
| DNB Asset Management AS | $5,348,509 | 73,127 | 0.21% | Shares |
| GOLDMAN SACHS GROUP INC | $4,960,721 | 67,825 | 0.20% | Shares |
| Casdin Capital, LLC | $4,754,100 | 65,000 | 0.19% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $4,647,169 | 63,538 | 0.19% | Shares |
| Bank of New York Mellon Corp | $4,572,786 | 62,521 | 0.18% | Shares |
| PEAK6 LLC | $4,388,400 | 60,000 | 0.17% | Call option |
| KVP Capital Advisors, LP | $4,260,405 | 58,250 | 0.17% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $4,227,199 | 57,796 | 0.17% | Shares |
| XTX Topco Ltd | $4,147,769 | 56,710 | 0.17% | Shares |
| NEXTBio Capital Management LP | $3,851,187 | 52,655 | 0.15% | Shares |
| ALGERT GLOBAL LLC | $3,792,309 | 51,850 | 0.15% | Shares |
| ExodusPoint Capital Management, LP | $3,775,706 | 51,623 | 0.15% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $3,700,713 | 49,674 | 0.15% | Shares |
| Burkehill Global Management, LP | $3,657,000 | 50,000 | 0.15% | Shares |
| Swiss National Bank | $3,642,372 | 49,800 | 0.15% | Shares |
| AMERIPRISE FINANCIAL INC | $3,355,224 | 45,874 | 0.13% | Shares |
| Atle Fund Management AB | $3,194,901 | 43,682 | 0.13% | Shares |
| Quadrature Capital Ltd | $3,102,526 | 42,419 | 0.12% | Shares |
| Brevan Howard Capital Management LP | $3,063,542 | 41,886 | 0.12% | Shares |
| ALPS ADVISORS INC | $2,820,644 | 38,565 | 0.11% | Shares |
| CITIGROUP INC | $2,683,068 | 36,684 | 0.11% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $2,679,411 | 36,634 | 0.11% | Shares |
| RHUMBLINE ADVISERS | $2,621,620 | 35,844 | 0.10% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $2,562,387 | 35,034 | 0.10% | Shares |
| SEVEN GRAND MANAGERS, LLC | $2,559,900 | 35,000 | 0.10% | Shares |
| MARSHALL WACE, LLP | $2,515,577 | 34,394 | 0.10% | Shares |
| BANK OF MONTREAL /CAN/ | $2,359,350 | 32,258 | 0.09% | Shares |
| ALLIANCEBERNSTEIN L.P. | $2,216,800 | 34,670 | 0.09% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,198,385 | 34,382 | 0.09% | Shares |
| RTW INVESTMENTS, LP | $2,194,200 | 30,000 | 0.09% | Shares |
| Squadron Capital Management LLC | $2,194,200 | 30,000 | 0.09% | Call option |
| VICTORY CAPITAL MANAGEMENT INC | $2,129,618 | 29,117 | 0.08% | Shares |
| TUDOR INVESTMENT CORP ET AL | $2,096,412 | 28,663 | 0.08% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,031,171 | 27,771 | 0.08% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,966,588 | 26,888 | 0.08% | Shares |
| Rafferty Asset Management, LLC | $1,943,037 | 26,566 | 0.08% | Shares |
| Campbell & CO Investment Adviser LLC | $1,870,044 | 25,568 | 0.07% | Shares |
| BlackRock, Inc. | $1,617,491 | 22,115 | 0.06% | Shares |
| TD Asset Management Inc | $1,579,824 | 21,600 | 0.06% | Shares |
| Engineers Gate Manager LP | $1,430,033 | 19,552 | 0.06% | Shares |
| DLD Asset Management, LP | $1,330,238 | 18,200 | 0.05% | Put option |
| CITADEL ADVISORS LLC | $1,258,008 | 17,200 | 0.05% | Put option |
| MetLife Investment Management, LLC | $1,213,246 | 16,588 | 0.05% | Shares |
| CITADEL ADVISORS LLC | $1,199,203 | 16,396 | 0.05% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,178,359 | 16,111 | 0.05% | Shares |
| CITADEL ADVISORS LLC | $1,155,612 | 15,800 | 0.05% | Call option |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,128,477 | 15,429 | 0.04% | Shares |
| Man Group plc | $1,091,615 | 14,925 | 0.04% | Shares |
| HighVista Strategies LLC | $1,039,978 | 14,219 | 0.04% | Shares |
Company insiders 30 insiders · 12 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| John D Quisel | Chief Executive Officer | Aug. 17, 2026 M | 226,064 | 0 | 14 | $-12,028,932 |
| Jason Patrick Meyenburg | Chief Executive Officer | Jan. 3, 2022 A | 13,000 | 0 | 0 | $0 |
| Jean M. Franchi | Chief Financial Officer | April 14, 2026 S | 64,333 | 0 | 6 | $-1,204,945 |
| Joanne Bryce | Chief Financial Officer | Jan. 10, 2024 A | 23,665 | 0 | 0 | $0 |
| Brian Piekos | CFO | May 31, 2022 A | 17,615 | 0 | 0 | $0 |
| William Jacob Savage | Chief Medical Officer | April 13, 2026 S | 79,480 | 0 | 8 | $-2,265,589 |
| Pamela Stephenson | Chief Commercial Officer | Feb. 17, 2026 S | 80,998 | 0 | 1 | $-347,679 |
| Brian Richard Macdonald | Chief Innovation Officer | June 30, 2023 S | 12,276 | 0 | 0 | $0 |
| Walter Strapps | Chief Scientific Officer | April 29, 2021 A | — | 0 | 0 | $0 |
| Samuel B. Barone | Chief Medical Officer | April 12, 2021 A | — | 0 | 0 | $0 |
| Marc Uknis | Chief Medical Officer | Feb. 5, 2021 A | — | 0 | 0 | $0 |
| Scott Lauder | Chief Technology Officer | Feb. 5, 2021 A | — | 0 | 0 | $0 |
| Donald William Nicholson | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| William Richard White | Director | June 18, 2026 A | 0 | 0 | 0 | $0 |
| Mark Chin | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Nadim Ahmed | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Kevin Bitterman | Director | June 18, 2026 A | 14,161 | 0 | 19 | $-16,858,638 |
| Liam Ratcliffe | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Georges Gemayel | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Mona Ashiya | Director | June 11, 2025 A | 186,541 | 0 | 0 | $0 |
| Jay T. Backstrom | Director | Dec. 29, 2022 A | — | 0 | 0 | $0 |
| Tuyen Ong | Director | Oct. 4, 2021 A | — | 0 | 0 | $0 |
| James B. Tananbaum | Director | Oct. 4, 2021 A | — | 0 | 0 | $0 |
| Jason P Rhodes | Director | Oct. 4, 2021 A | — | 0 | 0 | $0 |
| GORDON CARL L | Director | Oct. 4, 2021 A | — | 0 | 0 | $0 |
| David Charles Lubner | Director | March 12, 2021 A | — | 0 | 0 | $0 |
| Novo Holdings A/S | 10% owner | June 28, 2023 S | 1,090,772 | 0 | 0 | $0 |
| Jonathan Yen-Wen Yu | — | Aug. 12, 2026 M | 54,324 | 0 | 11 | $-4,833,128 |
| Rahul Khara | — | Aug. 6, 2026 M | 52,324 | 0 | 11 | $-1,874,683 |
| Precillia Redmond | — | Feb. 5, 2021 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 6 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 |
|---|---|---|---|---|---|
| Atlas Venture Fund X, L.P., ATLAS VENTURE ASSOCIATES X, L.P., Atlas Venture Associates X, LLC, Atlas Venture Fund XII, L.P., Atlas Venture Associates XII, L.P., Atlas Venture Associates XII, LLC, Atlas Venture Opportunity Fund I, L.P., Atlas Venture Associates Opportunity I, L.P., Atlas Venture Associates Opportunity I, LLC, Atlas Venture Opportunity Fund II, L.P., Atlas Venture Associates Opportunity II, LP, Atlas Venture Associates Opportunity II, LLC ×6 filings | Dec. 17, 2025 | 2.20% | Amendment | — | SEC |
| AI DMI LLC, Access Industries Holdings LLC, Access Industries Management, LLC, Len Blavatnik ×7 filings | Oct. 22, 2025 | 8.00% | Amendment | M&A / sale | SEC |
| ORBIMED ADVISORS LLC, ORBIMED CAPITAL GP VI LLC, OrbiMed Capital GP VIII LLC, OrbiMed Genesis GP LLC ×6 filings | March 12, 2025 | 4.50% | Amendment | — | SEC |
| Adage Capital Partners, L.P., Adage Capital Partners GP, L.L.C., Adage Capital Advisors, L.L.C., Robert Atchinson, Phillip Gross ×3 filings | Feb. 16, 2023 | — | Initial filing | — | SEC |
| Lightstone Ventures, L.P., Lightstone Ventures (A), L.P., LSV Associates, LLC, Lightstone Singapore, L.P., Lightstone Singapore Associates, LLC, Michael A. Carusi, Jean M. George, Henry A. Plain, Jr. ×2 filings | Feb. 14, 2023 | — | Initial filing | M&A / sale | SEC |
| FS Development Holdings, LLC, Foresite Capital Fund V, L.P., Foresite Capital Management V, LLC, Foresite Capital Opportunity Fund V, L.P., Foresite Capital Opportunity Management V, LLC, James Tananbaum ×3 filings | Jan. 5, 2023 | — | 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 46 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 |
|---|---|---|---|---|
| SBIO · ALPS ETF Trust | 1.69% | 39,334 NS | May 31, 2026 | N-PORT |
| FMED · Fidelity Covington Trust | 1.18% | 6,926 NS | May 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.74% | 57,978 NS | April 30, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.53% | 3,004 NS | April 30, 2026 | N-PORT |
| JDOC · J.P. Morgan Exchange-Traded Fund Tr… | 0.38% | 636 NS | April 30, 2026 | N-PORT |
| BIB · ProShares Trust | 0.13% | 1,411 NS | May 31, 2026 | N-PORT |
| FFSM · FIDELITY COVINGTON TRUST | 0.10% | 19,972 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.09% | 356 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 10,028 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.08% | 986 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.06% | 11,910 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.05% | 112,189 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.05% | 1,293 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.05% | 152,195 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.03% | 1,011 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.03% | 11,162 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 1,021 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 4,076 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 60,244 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 915 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 26 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 11,918 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 7,752 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 12,978 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 18,441 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 318 NS | April 30, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | -0.03% | -10,643 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | — | — | July 30, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| ITOT · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWO · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IBB · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PTH · Invesco Exchange-Traded Fund Trust | — | — | July 24, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |
| ISCB · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| ISCG · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| ESML · iShares Trust | — | — | Aug. 14, 2026 | Daily |
| WSML · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | — | — | Aug. 17, 2026 | Daily |