NKTX Nkarta, Inc. - Common Stock
$2.53
Price · Aug 19, 2026
Fundamentals as of Aug 10, 2026
52W Range
$2–$4
41% of range
Analyst Rating
BUY
12 analysts
Price Target
$11
+334% upside
P/E (TTM)
-1.8
ROE
-31.1%
Net Profit Margin
—
NKTX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.53
Market Cap
$180M
P/E (TTM)
-1.8
EPS (TTM)
$-1.41
Revenue (TTM)
$0
Div Yield
—
ROE
-31.1%
Debt/Equity
—
52W Range
$2 – $4
NKTX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$0
2019-12-31
→
2025-12-31
EPS
$-1.41
2021-12-31
→
2025-12-31
Free Cash Flow
$-90M
2020-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
NKTX
Peer Median
P/E (TTM)
-1.8
1.2
P/B
0.6
1.2
Price / FCF
-2.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
NKTX
Peer Median
ROA
-23.0%
-58.9%
ROE
-31.1%
-79.0%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
NKTX
Peer Median
Current Ratio
12.7
5.4
Quick Ratio
12.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
NKTX
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
NKTX
Peer Median
NKTX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 4 33.3%
- Buy 7 58.3%
- Hold 1 8.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-15
Median
$11.00
← Below all targets
$2.53
Low
$9.00
High
$14.00
Median target
$11.00
+334.4%
Mean target
$11.00
+334.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.54 | $-0.38 | -0.16% |
| March 31, 2026 | $-0.37 | $-0.38 | 0.01% |
| Dec. 31, 2025 | $-0.37 | $-0.32 | -0.05% |
| Sept. 30, 2025 | $-0.29 | $-0.32 | 0.03% |
| June 30, 2025 | $-0.31 | $-0.36 | 0.05% |
| March 31, 2025 | $-0.43 | $-0.45 | 0.02% |
| Dec. 31, 2024 | $-0.35 | $-0.42 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NKTX | $131M | -1.3 | — | — | -31.1% | — |
| CUE | $29M | -1.1 | 195.8% | -96.9% | -119.3% | — |
| VYGR | $232M | -1.9 | -49.5% | -296.5% | -54.4% | — |
| CHRS | $172M | 1.0 | 59.8% | 398.4% | 185.8% | — |
| OKUR | — | -0.7 | — | -1733.7% | -88.6% | — |
| CRBU | $151M | -1.0 | 11.7% | -1327.4% | -102.8% | — |
| CNTB | $159M | -2.8 | -99.8% | -86687.5% | -97.9% | — |
| TNYA | $154M | -1.2 | — | — | -81.2% | — |
| CNTN | $112M | -2.7 | — | — | -18.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | · | · | $0 | · | $115.0K | |
| R&D Expense | $90M | $97M | $97M | $91M | $63M | $36M | $17M | |
| SG&A Expense | $32M | $31M | $35M | $28M | $23M | $15M | $5M | |
| Operating Expenses | $122M | $128M | $132M | $119M | $86M | $52M | $22M | |
| Operating Income | $-122M | $-128M | $-132M | $-119M | $-86M | $-52M | $-22M | |
| Other Non-op | $2M | $87.0K | $42.0K | $-470.0K | $-16.0K | $-3.0K | $18.0K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-104M | $-109M | $-118M | $-114M | $-86M | $-91M | $-21M | |
| EPS (Basic) | $-1.41 | $-1.60 | $-2.40 | $-2.61 | $-2.62 | · | · | |
| EPS (Diluted) | $-1.41 | $-1.60 | $-2.40 | $-2.61 | $-2.62 | · | · | |
| Shares (Basic) | 73,991,197 | 67,865,323 | 49,014,300 | 43,631,722 | 32,856,883 | · | · | |
| Shares (Diluted) | 73,991,197 | 67,865,323 | 49,014,300 | 43,631,722 | 32,856,883 | · | · | |
| EBITDA | $-113M | $-119M | $-126M | $-116M | $-85M | $-51M | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $40M | $28M | $31M | $37M | $61M | $97M | $21M | |
| Short-term Investments | $237M | $239M | $217M | $315M | $177M | $218M | $16M | |
| Prepaid Expense | $6M | $6M | $5M | $9M | $8M | $4M | $474.0K | |
| Other Current Assets | $2M | $3M | $2M | $3M | $3M | $1M | $67.0K | |
| Current Assets | $283M | $273M | $253M | $361M | $246M | $319M | $37M | |
| PP&E (Net) | $67M | $75M | $79M | $62M | $13M | $9M | $3M | |
| PP&E (Gross) | $96M | $96M | $91M | $68M | $16M | $11M | $4M | |
| Accum. Depreciation | $29M | $21M | $12M | $6M | $3M | $1M | $645.0K | |
| Other Non-current Assets | $2M | $4M | $4M | $2M | $1M | $547.0K | $455.0K | |
| Total Assets | $404M | $501M | $379M | $473M | $274M | $338M | $48M | |
| Accounts Payable | $2M | $638.0K | $4M | $2M | $1M | $1M | $2M | |
| Accrued Liabilities | $13M | $12M | $14M | $16M | $9M | $6M | $3M | |
| Current Liabilities | $22M | $19M | $23M | $22M | $13M | $9M | $8M | |
| Capital Leases | $70M | $74M | $82M | $79M | $10M | $8M | $6M | |
| Other Non-current Liabilities | $87.0K | $87.0K | · | · | $18.0K | $82.0K | $134.0K | |
| Total Liabilities | $92M | $93M | $106M | $101M | $23M | $16M | $14M | |
| Common Stock | $7.0K | $7.0K | $5.0K | $5.0K | $3.0K | $3.0K | $1.0K | |
| Retained Earnings | $-648M | $-544M | $-435M | $-318M | $-204M | $-118M | $-27M | |
| AOCI | $407.0K | $674.0K | $8.0K | $-679.0K | $-150.0K | $3.0K | $-2.0K | |
| Stockholders' Equity | $312M | $408M | $273M | $372M | $251M | $321M | $-25M | |
| Liabilities + Equity | $404M | $501M | $379M | $473M | $274M | $338M | $48M | |
| Shares Outstanding | 71,078,531 | 70,645,139 | 49,181,295 | 48,877,806 | 32,971,107 | 32,627,963 | 1,600,601 |
Cash Flow 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $9M | $9M | $6M | $3M | $2M | $800.0K | $400.0K | |
| Stock-based Comp | $9M | $17M | $17M | $17M | $14M | $7M | $947.0K | |
| Restructuring | $5M | · | · | · | · | · | · | |
| Other Non-cash | $-2M | $-17M | $8M | $37M | $2M | $40M | · | |
| Operating Cash Flow | $-89M | $-100M | $-86M | $-57M | $-68M | $-44M | $-18M | |
| CapEx | $1M | $4M | $28M | $47M | $5M | $8M | $2M | |
| Investing Cash Flow | $100M | $-130M | $79M | $-185M | $33M | $-210M | $-18M | |
| Financing Cash Flow | $141.0K | $226M | $691.0K | $219M | $1M | $330M | $50M | |
| Net Change in Cash | $12M | $-3M | $-6M | $-23M | $-34M | $76M | $13M | |
| Free Cash Flow | $-90M | $-104M | $-114M | $-104M | $-73M | $-51M | · |
Profitability 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| ROA | -23.0% | -24.7% | -27.6% | -30.5% | -28.1% | -47.3% | · | |
| ROE | -31.1% | -25.9% | -41.2% | -29.5% | -33.0% | -27.9% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 12.7 | 14.4 | 10.8 | 16.4 | 19.0 | 36.1 | · | |
| Quick Ratio | 12.4 | 14.1 | 10.6 | 16.0 | 18.4 | 35.7 | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | · | 0.0 | · | · |
Valuation (TTM) 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | · | · | $0 | · | · | |
| Net Income TTM | $-104M | $-109M | $-118M | $-114M | $-86M | $-91M | · | |
| Market Cap | $131M | $176M | $325M | $293M | $506M | $2.01B | · | |
| P/E | -1.3 | -1.6 | -2.8 | -2.3 | -5.9 | · | · | |
| P/B | 0.4 | 0.4 | 1.2 | 0.8 | 2.0 | 6.2 | · | |
| P / Tangible Book | 0.4 | 0.4 | 1.2 | 0.8 | 2.0 | 6.2 | · | |
| P / Cash Flow | -1.5 | -1.8 | -3.8 | -5.1 | -7.5 | -46.1 | · | |
| P / FCF | -1.5 | -1.7 | -2.8 | -2.8 | -6.9 | -39.3 | · | |
| Earnings Yield | -76.2% | -64.3% | -36.4% | -43.6% | -17.1% | · | · |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $29M | $25M | $25M | $20M | $21M | $24M | $23M | $25M | $23M | $25M | $23M | $22M | $25M | $26M | $27M | $23M | |
| SG&A Expense | $14M | $6M | $6M | $7M | $6M | $12M | $8M | $9M | $8M | $8M | $8M | $7M | $12M | $8M | $8M | $7M | |
| Operating Expenses | $43M | $31M | $31M | $27M | $27M | $37M | $31M | $34M | $31M | $33M | $31M | $29M | $37M | $34M | $35M | $30M | |
| Operating Income | $-43M | $-31M | $-31M | $-27M | $-27M | $-37M | $-31M | $-34M | $-31M | $-33M | $-31M | $-29M | $-37M | $-34M | $-35M | $-30M | |
| Other Non-op | $222.0K | $206.0K | $256.0K | $2M | $239.0K | $205.0K | $94.0K | $-3.0K | $-2.0K | $-2.0K | $-25.0K | $33.0K | $1.0K | $33.0K | $-489.0K | $17.0K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-40M | $-28M | $-27M | $-22M | $-23M | $-32M | $-26M | $-28M | $-25M | $-30M | $-28M | $-26M | $-33M | $-31M | $-33M | $-28M | |
| EPS (Basic) | $-0.54 | $-0.37 | $-0.38 | $-0.29 | $-0.31 | $-0.43 | $-0.29 | $-0.39 | $-0.34 | $-0.58 | $-0.57 | $-0.52 | $-0.68 | $-0.63 | $-0.63 | $-0.58 | |
| EPS (Diluted) | $-0.54 | $-0.37 | $-0.38 | $-0.29 | $-0.31 | $-0.43 | $-0.29 | $-0.39 | $-0.34 | $-0.58 | $-0.57 | $-0.52 | $-0.68 | $-0.63 | $-0.63 | $-0.58 | |
| Shares (Basic) | 74,494,855 | 74,257,973 | -147,927,448 | 74,024,543 | 73,977,625 | 73,916,477 | -129,874,985 | 73,563,316 | 73,494,523 | 50,682,469 | -97,940,216 | 49,062,799 | 48,970,391 | 48,921,326 | -81,832,580 | 48,630,328 | |
| Shares (Diluted) | 74,494,855 | 74,257,973 | -147,927,448 | 74,024,543 | 73,977,625 | 73,916,477 | -129,874,985 | 73,563,316 | 73,494,523 | 50,682,469 | -97,940,216 | 49,062,799 | 48,970,391 | 48,921,326 | -81,832,580 | 48,630,328 | |
| EBITDA | $-40M | $-29M | · | $-25M | $-25M | $-34M | · | $-31M | $-28M | $-30M | · | $-27M | $-36M | $-34M | · | $-30M |
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 | $25M | $27M | $40M | $60M | $53M | $53M | $28M | $57M | $120M | $250M | $31M | $38M | $29M | $54M | $37M | $40M | |
| Short-term Investments | $158M | $203M | $237M | $222M | $236M | $213M | $239M | $226M | $204M | $187M | $217M | $237M | $252M | $270M | $315M | $353M | |
| Prepaid Expense | $5M | $5M | $6M | $7M | $7M | $6M | $6M | $7M | $7M | $5M | $5M | $6M | $6M | $9M | $9M | $9M | |
| Other Current Assets | · | · | $2M | · | · | · | $3M | · | · | · | $2M | $2M | $3M | $3M | $3M | $3M | |
| Current Assets | $188M | $236M | $283M | $289M | $297M | $272M | $273M | $290M | $332M | $443M | $253M | $281M | $287M | $332M | $361M | $401M | |
| PP&E (Net) | $57M | $64M | $67M | $68M | $70M | $73M | $75M | $76M | $78M | $79M | $79M | $78M | $76M | $70M | $62M | $30M | |
| PP&E (Gross) | $93M | $96M | $96M | $96M | $96M | $96M | $96M | $95M | $94M | $92M | $91M | $87M | $84M | $76M | $68M | $35M | |
| Accum. Depreciation | $36M | $31M | $29M | $28M | $25M | $23M | $21M | $19M | $16M | $14M | $12M | $9M | $7M | $7M | $6M | $5M | |
| Other Non-current Assets | $1M | $2M | $2M | $2M | $2M | $5M | $4M | $5M | $4M | $4M | $4M | $4M | $4M | $2M | $2M | $2M | |
| Total Assets | $338M | $372M | $404M | $427M | $448M | $471M | $501M | $532M | $554M | $577M | $379M | $406M | $429M | $458M | $473M | $504M | |
| Accounts Payable | $4M | $2M | $2M | $1M | $2M | $1M | $638.0K | $2M | $4M | $3M | $4M | $4M | $3M | $5M | $2M | $9M | |
| Accrued Liabilities | $12M | $10M | $13M | $11M | $11M | $11M | $12M | $14M | $12M | $13M | $14M | $15M | $18M | $15M | $16M | $12M | |
| Current Liabilities | $24M | $18M | $22M | $19M | $19M | $19M | $19M | $22M | $21M | $22M | $23M | $26M | $27M | $26M | $22M | $26M | |
| Capital Leases | $66M | $68M | $70M | $70M | $72M | $73M | $74M | $79M | $80M | $81M | $82M | $83M | $84M | $86M | $79M | $78M | |
| Other Non-current Liabilities | $87.0K | $87.0K | $87.0K | $87.0K | $87.0K | $87.0K | $87.0K | · | · | · | · | · | · | · | · | $5.0K | |
| Total Liabilities | $90M | $86M | $92M | $89M | $91M | $92M | $93M | $101M | $101M | $103M | $106M | $109M | $111M | $112M | $101M | $105M | |
| Common Stock | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | |
| Retained Earnings | $-717M | $-676M | $-648M | $-621M | $-599M | $-576M | $-544M | $-518M | $-490M | $-465M | $-435M | $-408M | $-382M | $-349M | $-318M | $-285M | |
| AOCI | $-425.0K | $-130.0K | $407.0K | $536.0K | $362.0K | $652.0K | $674.0K | $2M | $-263.0K | $-127.0K | $8.0K | $-409.0K | $-601.0K | $-174.0K | $-679.0K | $-1M | |
| Stockholders' Equity | $248M | $286M | $312M | $338M | $358M | $379M | $408M | $431M | $453M | $474M | $273M | $297M | $318M | $347M | $372M | $399M | |
| Liabilities + Equity | $338M | $372M | $404M | $427M | $448M | $471M | $501M | $532M | $554M | $577M | $379M | $406M | $429M | $458M | $473M | $504M | |
| Shares Outstanding | · | · | 71,078,531 | · | · | · | 70,645,139 | · | · | · | 49,181,295 | · | · | · | 48,877,806 | · |
Cash Flow 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $800.0K | $800.0K | $700.0K | $700.0K | |
| Stock-based Comp | $2M | $2M | $2M | $2M | $2M | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $5M | $5M | $4M | $4M | |
| Restructuring | · | · | $-59.0K | $-26.0K | $-86.0K | $5M | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $-5M | · | · | · | $-3M | · | · | · | $-6M | · | · | · | $5M | · | · | |
| Operating Cash Flow | $-24M | $-28M | $-22M | $-19M | $-19M | $-30M | $-25M | $-25M | $-22M | $-29M | $-23M | $-20M | $-22M | $-21M | $-7M | $-15M | |
| CapEx | $183.0K | $413.0K | $560.0K | $-8.0K | $138.0K | $518.0K | $1M | $777.0K | $2M | $175.0K | $7M | $6M | $10M | $5M | $35M | $8M | |
| Investing Cash Flow | $21M | $16M | $1M | $25M | $19M | $54M | $-5M | $-39M | $-108M | $21M | $16M | $29M | $-3M | $37M | $5M | $-79M | |
| Financing Cash Flow | $676.0K | $6.0K | $64.0K | $0 | $77.0K | $0 | $184.0K | $2.0K | $-368.0K | $226M | $295.0K | $0 | $395.0K | $1.0K | $424.0K | $3M | |
| Net Change in Cash | $-2M | $-12M | $-20M | $7M | $816.0K | $25M | $-29M | $-63M | $-130M | $219M | $-7M | $9M | $-25M | $16M | $-2M | $-91M | |
| Free Cash Flow | · | $-29M | · | · | · | $-30M | · | · | · | $-29M | · | · | · | $-26M | · | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -10.3% | -6.6% | · | -4.5% | -4.6% | -6.1% | · | -6.0% | -5.1% | -5.7% | · | -5.6% | -7.1% | -8.1% | · | -7.1% | |
| ROE | -13.3% | -8.4% | · | -5.7% | -5.7% | -7.5% | · | -7.8% | -6.5% | -7.2% | · | -7.4% | -9.0% | -10.7% | · | -8.5% |
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 | 8.0 | 13.0 | · | 15.2 | 15.7 | 14.5 | · | 12.9 | 15.9 | 20.0 | · | 11.0 | 10.8 | 12.8 | · | 15.2 | |
| Quick Ratio | 7.8 | 12.7 | · | 14.9 | 15.3 | 14.2 | · | 12.6 | 15.6 | 19.7 | · | 10.7 | 10.5 | 12.4 | · | 14.8 |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-113M | $-105M | · | $-105M | $-108M | $-115M | · | $-108M | $-113M | $-119M | · | $-118M | $-119M | $-112M | · | $-104M | |
| P/E | -1.9 | -1.5 | · | -1.5 | -1.1 | -1.1 | · | -2.5 | -2.8 | -4.5 | · | -0.6 | -0.9 | -1.4 | · | -4.9 | |
| Earnings Yield | -53.4% | -66.3% | · | -68.6% | -88.5% | -94.6% | · | -40.5% | -35.9% | -22.3% | · | -173.4% | -114.2% | -73.5% | · | -20.2% |
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 | $0 | — | — | $0 |
| Net Income | $-104M | $-109M | $-118M | $-114M | $-86M |
| Diluted EPS | $-1.41 | $-1.60 | $-2.40 | $-2.61 | $-2.62 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 12.7 | 14.4 | 10.8 | 16.4 | 19.0 |
| Quick Ratio | 12.4 | 14.1 | 10.6 | 16.0 | 18.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-90M | $-104M | $-114M | $-104M | $-73M |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 148 filers · $137.5M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 32 (+14 vs prior Q) | 13 (+4 vs prior Q) | 46 (+2 vs prior Q) | 34 (+6 vs prior Q) | +943K |
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 |
|---|---|---|---|---|
| RA CAPITAL MANAGEMENT, L.P. | $30,578,515 | 10,805,129 | 22.24% | Shares |
| NEA Management Company, LLC | $10,099,650 | 3,568,781 | 7.35% | Shares |
| SAMSARA BIOCAPITAL, LLC | $9,926,695 | 3,507,666 | 7.22% | Shares |
| SR One Capital Management, LP | $9,433,332 | 3,333,333 | 6.86% | Shares |
| GSK plc | $8,916,572 | 3,150,732 | 6.48% | Shares |
| Monaco Asset Management SAM | $6,716,722 | 2,373,400 | 4.88% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $6,300,754 | 2,226,415 | 4.58% | Shares |
| CITADEL ADVISORS LLC | $6,154,528 | 2,174,745 | 4.48% | Shares |
| TWO SIGMA INVESTMENTS, LP | $5,301,419 | 1,873,293 | 3.86% | Shares |
| STATE STREET CORP | $3,639,688 | 1,286,109 | 2.65% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $3,332,755 | 1,177,652 | 2.42% | Shares |
| WASATCH ADVISORS LP | $3,329,257 | 1,577,847 | 2.42% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $3,126,052 | 1,104,344 | 2.27% | Shares |
| AWM Investment Company, Inc. | $2,563,980 | 906,000 | 1.86% | Shares |
| BlackRock, Inc. | $2,220,384 | 784,588 | 1.61% | Shares |
| Blackstone Inc. | $2,114,135 | 747,044 | 1.54% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $1,650,595 | 583,249 | 1.20% | Shares |
| Peapod Lane Capital LLC | $1,556,282 | 549,923 | 1.13% | Shares |
| JPMORGAN CHASE & CO | $1,548,938 | 543,487 | 1.13% | Shares |
| Alyeska Investment Group, L.P. | $1,372,097 | 484,840 | 1.00% | Shares |
| TWO SIGMA ADVISERS, LP | $1,197,320 | 647,200 | 0.87% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,186,308 | 419,190 | 0.86% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $985,366 | 348,186 | 0.72% | Shares |
| MILLENNIUM MANAGEMENT LLC | $915,955 | 323,659 | 0.67% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $854,422 | 301,916 | 0.62% | Shares |
| XTX Topco Ltd | $820,658 | 289,985 | 0.60% | Shares |
| GOLDMAN SACHS GROUP INC | $754,846 | 266,730 | 0.55% | Shares |
| VANGUARD GROUP INC | $604,970 | 327,011 | 0.44% | Shares |
| IEQ CAPITAL, LLC | $501,017 | 177,038 | 0.36% | Shares |
| D. E. Shaw & Co., Inc. | $415,574 | 146,846 | 0.30% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $370,659 | 130,975 | 0.27% | Shares |
| NANO CAP NEW MILLENNIUM GROWTH FUND L P | $367,900 | 130,000 | 0.27% | Shares |
| FMR LLC | $365,710 | 129,226 | 0.27% | Shares |
| Susquehanna Portfolio Strategies, LLC | $357,539 | 126,339 | 0.26% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $347,524 | 122,800 | 0.25% | Shares |
| Qube Research & Technologies Ltd | $341,889 | 120,809 | 0.25% | Shares |
| BARCLAYS PLC | $341,733 | 120,754 | 0.25% | Shares |
| MACKENZIE FINANCIAL CORP | $325,985 | 115,189 | 0.24% | Shares |
| JANE STREET GROUP, LLC | $315,899 | 111,625 | 0.23% | Shares |
| Point72 Asset Management, L.P. | $302,261 | 106,806 | 0.22% | Shares |
| Man Group plc | $283,133 | 100,047 | 0.21% | Shares |
| AMERICAN CENTURY COMPANIES INC | $268,428 | 94,851 | 0.20% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $233,922 | 82,658 | 0.17% | Shares |
| CITADEL ADVISORS LLC | $229,230 | 81,000 | 0.17% | Call option |
| Mariner, LLC | $222,169 | 78,504 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $213,005 | 100,950 | 0.15% | Shares |
| Marquette Asset Management, LLC | $212,451 | 75,071 | 0.15% | Shares |
| Empowered Funds, LLC | $197,087 | 69,642 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $188,886 | 66,744 | 0.14% | Shares |
| HSBC HOLDINGS PLC | $183,463 | 65,994 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $171,129 | 60,473 | 0.12% | Shares |
| Rangeley Capital, LLC | $169,800 | 60,000 | 0.12% | Shares |
| BANK OF AMERICA CORP /DE/ | $161,250 | 56,979 | 0.12% | Shares |
| PRELUDE CAPITAL MANAGEMENT, LLC | $151,688 | 53,600 | 0.11% | Shares |
| Verdad Advisers, LP | $145,753 | 51,503 | 0.11% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $142,985 | 48,143 | 0.10% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $115,656 | 40,868 | 0.08% | Shares |
| Samalin Investment Counsel, LLC | $115,323 | 40,750 | 0.08% | Shares |
| Bank of New York Mellon Corp | $109,954 | 38,853 | 0.08% | Shares |
| WELLS FARGO & COMPANY/MN | $105,950 | 37,438 | 0.08% | Shares |
| Cerity Partners LLC | $105,858 | 37,406 | 0.08% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $95,445 | 33,726 | 0.07% | Shares |
| CWM, LLC | $89,954 | 42,632 | 0.07% | Shares |
| Forefront Analytics, LLC | $81,943 | 28,955 | 0.06% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $81,221 | 28,700 | 0.06% | Shares |
| MARSHALL WACE, LLP | $80,172 | 28,329 | 0.06% | Shares |
| BANK OF MONTREAL /CAN/ | $78,796 | 27,843 | 0.06% | Shares |
| Cubist Systematic Strategies, LLC | $71,083 | 34,340 | 0.05% | Shares |
| Graham Capital Management, L.P. | $67,858 | 23,978 | 0.05% | Shares |
| Abel Hall, LLC | $65,783 | 23,245 | 0.05% | Shares |
| SIMPLEX TRADING, LLC | $65,135 | 23,016 | 0.05% | Shares |
| Nuveen, LLC | $64,490 | 22,788 | 0.05% | Shares |
| Creative Planning | $62,232 | 21,990 | 0.05% | Shares |
| Vanguard Personalized Indexing Management, LLC | $59,605 | 21,062 | 0.04% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $58,253 | 20,584 | 0.04% | Shares |
| Nuveen Asset Management, LLC | $56,742 | 22,788 | 0.04% | Shares |
| JANE STREET GROUP, LLC | $56,600 | 20,000 | 0.04% | Call option |
| CAPTRUST FINANCIAL ADVISORS | $52,397 | 18,515 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $51,209 | 18,095 | 0.04% | Shares |
| CITIGROUP INC | $51,104 | 18,058 | 0.04% | Shares |
| Invesco Ltd. | $50,682 | 17,909 | 0.04% | Shares |
| DIVERSIFIED TRUST CO | $49,137 | 17,363 | 0.04% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $48,676 | 17,200 | 0.04% | Put option |
| WINTON GROUP Ltd | $44,714 | 15,800 | 0.03% | Shares |
| BRIGHTON JONES LLC | $41,746 | 14,751 | 0.03% | Shares |
| Merit Financial Group, LLC | $39,343 | 13,902 | 0.03% | Shares |
| Focus Partners Wealth | $36,620 | 12,940 | 0.03% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $35,313 | 12,478 | 0.03% | Shares |
| Arax Advisory Partners | $34,130 | 12,060 | 0.02% | Shares |
| Spark Investment Management LLC | $33,111 | 11,700 | 0.02% | Shares |
| Quadrature Capital Ltd | $32,568 | 11,508 | 0.02% | Shares |
| RAYMOND JAMES FINANCIAL INC | $30,887 | 10,914 | 0.02% | Shares |
| Pallas Capital Advisors LLC | $30,708 | 10,851 | 0.02% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $30,352 | 10,725 | 0.02% | Shares |
| Police & Firemen's Retirement System of New Jersey | $30,106 | 10,638 | 0.02% | Shares |
| NEUBERGER BERMAN GROUP LLC | $28,297 | 9,999 | 0.02% | Shares |
| UBS Group AG | $26,557 | 9,384 | 0.02% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $23,928 | 8,455 | 0.02% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $23,115 | 8,168 | 0.02% | Shares |
| Tower Research Capital LLC (TRC) | $22,665 | 8,009 | 0.02% | Shares |
Company insiders 27 insiders · 10 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Paul J Hastings | Chief Executive Officer | June 18, 2026 S | 390,247 | 0 | 2 | $-58,728 |
| Matthew Plunkett | Chief Financial Officer | July 9, 2020 A | — | 0 | 0 | $0 |
| Nadir Mahmood | President | Jan. 15, 2026 S | 167,727 | 0 | 1 | $-11,693 |
| Shawn Marshall Rose | Chief Medical Officer, Head of Research & Development | Jan. 6, 2026 A | 70,000 | 0 | 0 | $0 |
| Alyssa Levin | Chief Financial and Business Officer | Jan. 15, 2025 S | 102,662 | 0 | 0 | $0 |
| David Shook | Chief Medical Officer, Head of Research & Development | Jan. 15, 2025 S | 190,955 | 0 | 0 | $0 |
| Ralph Brandenberger | Chief Technical Officer | Jan. 15, 2025 S | 124,796 | 0 | 0 | $0 |
| Alicia J. Hager | Chief Legal Officer | Jan. 15, 2025 S | 146,735 | 0 | 0 | $0 |
| James Trager | Chief Scientific Officer | June 18, 2024 S | 150,959 | 0 | 0 | $0 |
| Kanya Rajangam | Chief Medical Officer | Jan. 14, 2022 A | 12,800 | 0 | 0 | $0 |
| George Vratsanos | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Zachary Scheiner | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Angela Thedinga | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Ali Behbahani | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Michael Dybbs | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Simeon George | Director | June 10, 2026 A | 451,659 | 0 | 0 | $0 |
| Leone D Patterson | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Fouad Oscar Azzam | Director | June 7, 2023 A | — | 0 | 0 | $0 |
| Tiba Aynechi | Director | June 8, 2022 A | — | 0 | 0 | $0 |
| Laura Shawver | Director | June 8, 2022 A | — | 0 | 0 | $0 |
| Mohamad Makhzoumi | 10% owner | July 14, 2020 C | 2,902,115 | 0 | 0 | $0 |
| Anthony A. Florence, Jr. | 10% owner | July 14, 2020 C | 2,902,115 | 0 | 0 | $0 |
| Peter W. Sonsini | 10% owner | July 14, 2020 C | 2,902,115 | 0 | 0 | $0 |
| Novo Holdings A/S | 10% owner | July 14, 2020 C | 2,793,865 | 0 | 0 | $0 |
| Forest Baskett | 10% owner | July 14, 2020 C | 2,902,115 | 0 | 0 | $0 |
| Scott D. Sandell | 10% owner | July 14, 2020 C | 2,902,115 | 0 | 0 | $0 |
| Joshua Makower | 10% owner | July 14, 2020 C | 2,902,115 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| New Enterprise Associates 15, L.P., NEA Partners 15, L.P., NEA 15 GP, LLC, Forest Baskett, Anthony A. Florence, Jr., Mohamad H. Makhzoumi, Scott D. Sandell ×4 filings | May 19, 2026 | 4.90% | Amendment | Passive investment | SEC |
| Samsara BioCapital, L.P., Samsara BioCapital GP, LLC, Srinivas Akkaraju ×4 filings | Nov. 24, 2025 | 4.90% | Amendment | — | SEC |
| LSP 6 Management B.V., LSP 6 Holding C.V., LSP 6 NK Holding B.V ×3 filings | Feb. 12, 2025 | 4.00% | Amendment | — | SEC |
| RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, RA Capital Healthcare Fund, L.P. ×3 filings | March 29, 2024 | — | Initial filing | — | SEC |
| Novo Holdings A/S ×4 filings | June 3, 2022 | — | 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 23 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 |
|---|---|---|---|---|
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.07% | 80,561 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.02% | 150,315 SH | Aug. 8, 2026 | Daily |
| SFGV · EA Series Trust | 0.02% | 69,747 NS | May 29, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 90,267 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 38,962 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 103,003 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.01% | 450,360 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.00% | 2,199 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 19,275 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.00% | 1,120,883 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 137,619 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 1,719 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 1,737 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,985 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 44 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 6,031 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 8,873 SH | Aug. 8, 2026 | Daily |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 3,657 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 599,527 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,567,021 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 259,168 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,786 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 6,442 NS | April 30, 2026 | N-PORT |