NTLA Intellia Therapeutics, Inc. - Common Stock
About Intellia Therapeutics, Inc. - Common Stock Company overview from Wikipedia
Intellia Therapeutics, Inc. is an American clinical-stage biotechnology company focused on developing novel, potentially curative therapeutics leveraging CRISPR-based technologies. The company's in vivo programs use intravenously administered CRISPR as the therapy, in which the company's proprietary delivery technology enables highly precise editing of disease-causing genes directly within specific target tissues. Intellia's ex vivo programs use CRISPR to create the therapy by using engineered human cells to treat cancer and autoimmune diseases.
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Intellia Therapeutics, Inc. is an American clinical-stage biotechnology company focused on developing novel, potentially curative therapeutics leveraging CRISPR-based technologies. The company's in vivo programs use intravenously administered CRISPR as the therapy, in which the company's proprietary delivery technology enables highly precise editing of disease-causing genes directly within specific target tissues. Intellia's ex vivo programs use CRISPR to create the therapy by using engineered human cells to treat cancer and autoimmune diseases.
The CRISPR gene editing system was originally invented by Jennifer Doudna, one of Intellia's scientific founders, (with colleagues at University of California, Berkeley) and Virginijus Šikšnys (with colleagues at Vilnius University). The company has entered into a number of different research and development collaborations with leading and emerging biotechnology companies including Novartis, Regeneron, Avencell, SparingVision, Kyverna, and ONK Therapeutics.
Intellia has two in vivo programs in ongoing clinical trials. NTLA-2001 is an investigational CRISPR therapy candidate for the treatment for ATTR amyloidosis currently in Phase 1 studies. Lonvo-z is an investigational CRISPR therapy candidate for the treatment of hereditary angioedema (HAE) currently in Phase 3 studies.
Intellia's proprietary non-viral gene knock out platform deploys lipid nanoparticles to deliver to the liver a two-part genome editing system: guide RNA specific to the disease-causing gene and messenger RNA that encodes the Cas9 enzyme, which carries out the precision editing.
Intellia also has a number of research programs for in vivo and ex vivo therapeutic candidates with potential applications in diseases including cancer, alpha-1 antitrypsin deficiency, and hemophilia. The company is also working on a variety of additional gene editing technologies including base editing and DNA writing.
History
Intellia Therapeutics was founded in November 2014 to develop biopharmaceuticals using CRISPR.
It was backed by Atlas Venture and Novartis; the founding CEO was Nessan Bermingham from Atlas and the founding CSO was John Leonard, formerly CSO of AbbVie. The academic scientists involved in the founding included Rodolphe Barrangou, Rachel Haurwitz, Luciano Marraffini, Erik Sontheimer, and Derrick Rossi. The intellectual property around CRISPR was contested from the beginning; Intellia in-licensed patents from Caribou Biosciences, which had licensed patents from University of California invented by Jennifer Doudna.
Novartis had funded the Series A round because of its interest in applying CRISPR in CAR-T, and in January 2015 Novartis and Intellia reached a deal through which Novartis obtained rights to use CRISPR for its CAR-T program, and the companies agreed to collaborate on ways to use CRISPR to treat diseases involving hematopoietic stem cells including beta thalassemia and sickle cell disease. Intellia formed a division called eXtellia Therapeutics to manage the CAR-T collaboration with Novartis.
In December 2016, the company moved to its new 80,000 sq. ft. laboratory and office space in Cambridge, Massachusetts. By that time, it had obtained a license for another company's a lipid nanoparticle drug delivery system to help with its efforts to deliver CRISPR drugs to the liver, without being degraded in the bloodstream; at that time it had not disclosed the licensor.
In March 2017, Intellia and Regeneron, partners in co-developing a CRISPR-based treatment for transthyretin amyloidosis, presented data from a gene editing experiment in mice. By that time, University of California had lost a challenge to Broad's CRISPR patents, putting Intellia at a disadvantage relative to Editas.
In April 2017, Intellia entered into a partnership with Regeneron Pharmaceuticals under which Regeneron gained the exclusive right to use Intellia's CRISPR platform on up to 10 drug targets, of which up to five could be outside of the liver, and the companies agreed to co-develop other targets. Regeneron paid $75 million upfront, as well as milestones and royalties. The company said it planned to put $10 million of the funds into its bioinformatics program, to help it evaluate targets.
In December 2017, John Leonard, who had experience in drug development, took over as CEO.
In October 2019, Intellia named Glenn Goddard as its executive vice president and CFO. Prior to Intellia, Goddard was the CFO at Generation Bio Company and senior vice president of finance at Agios Pharmaceuticals.
In October 2020, Jennifer Doudna, one of Intellia's scientific co-founders, was awarded the 2020 Nobel Prize in Chemistry for the development of the CRISPR/Cas9 genome editing technology. Doudna shared the award with her research collaborator, Emmanuelle Charpentier. This is the first time two women scientists have jointly won a Nobel Prize in Chemistry.
In June 2021, Intellia made history by announcing interim Phase 1 data for NTLA-2001, demonstrating the ability to precisely edit target cells within the body to treat genetic disease with a single intravenous infusion of CRISPR. This was the first time any human clinical data has been published for an in vivo gene editing therapeutic candidate. The landmark data was published in the New England Journal of Medicine in August 2021.
In September and November 2022, Intellia presented the initial positive clinical data from their second in vivo CRISPR-candidate, NTLA-2002 demonstrating for the first time the potential clinical benefits of a CRISPR-based therapy with initial results now available beyond biomarker data. In January 2024, Intellia laid off 15% of its employees. A year later, Intellia announced a 27% net workforce reduction.
Funding
In November 2014, Intellia Therapeutics raised $15 million in Series A round. In September 2015, a Series B round secured $70 million. In May 2016, Intellia announced the closing of its initial public offering which raised approximately $112.1 million. In the course of going public, the company disclosed that it had licensed the lipid drug delivery system from Novartis, and that it involved creating lipid droplets to encapsulate the CRISPR agents.
== References ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
NTLA 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
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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
NTLA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 4 16.7%
- Buy 9 37.5%
- Hold 8 33.3%
- Sell 2 8.3%
- Strong Sell 1 4.2%
12-Month Price Target
17 analysts · 2026-08-13Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.80 | $-0.82 | 0.02% |
| March 31, 2026 | $-0.81 | $-0.93 | 0.12% |
| Dec. 31, 2025 | $-0.83 | $-0.97 | 0.14% |
| Sept. 30, 2025 | $-0.92 | $-1.02 | 0.10% |
| June 30, 2025 | $-0.98 | $-1.04 | 0.06% |
| March 31, 2025 | $-1.10 | $-1.31 | 0.21% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NTLA | $1.05B | -2.4 | 16.9% | -609.8% | -59.5% | — |
| DMRA | — | — | 38.3% | -17981.1% | -167.0% | — |
| SRPT | $2.26B | -3.0 | 15.6% | -32.5% | -57.1% | — |
| SNDX | $1.84B | -6.4 | 627.8% | -165.6% | -257.1% | — |
| ANAB | — | -105.4 | 157.0% | — | — | — |
| RXRX | $2.16B | -2.8 | 26.9% | -863.4% | -62.9% | — |
| FBRX | $353M | -5.8 | 106.6% | -2555.2% | -86.9% | — |
| ZYME | $1.97B | -24.4 | 38.9% | -76.6% | -26.9% | — |
| BCAX | $953M | -6.7 | — | — | -33.0% | — |
| TYRA | $1.41B | -13.1 | — | — | -42.7% | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $68M | $58M | $36M | $52M | $33M | $58M | $43M | $30M | $26M | $16M | |
| Cost of Revenue | · | · | · | · | $0 | $0 | $0 | $0 | · | · | |
| R&D Expense | $389M | $466M | $435M | $420M | $230M | $150M | $108M | $89M | $68M | $32M | |
| SG&A Expense | $120M | $126M | $116M | $90M | $71M | $44M | $41M | $32M | $28M | $17M | |
| Operating Expenses | $509M | $592M | $552M | $510M | $301M | $195M | $149M | $121M | $96M | $49M | |
| Operating Income | $-441M | $-534M | $-515M | $-458M | $-268M | $-137M | $-106M | $-91M | $-70M | $-32M | |
| Interest Income | $29M | $48M | $50M | $9M | $1M | $2M | $7M | $6M | $2M | $525.0K | |
| Other Non-op | $28M | $15M | $34M | $-16M | $-42.0K | $2M | $7M | · | · | · | |
| Pretax Income | · | · | · | · | · | · | · | · | $-68M | $-32M | |
| Income Tax | $0 | · | · | · | · | · | · | · | · | $0 | |
| Net Income | $-413M | $-519M | $-481M | $-474M | $-268M | $-134M | $-474M | $-85M | $-68M | $-32M | |
| EPS (Basic) | $-3.81 | $-5.25 | $-5.42 | $-6.16 | $-3.78 | $-2.40 | · | · | · | · | |
| EPS (Diluted) | $-3.81 | $-5.25 | $-5.42 | $-6.16 | $-3.78 | $-2.40 | · | · | · | · | |
| Shares (Basic) | 108,376,000 | 98,849,000 | 88,770,000 | 76,972,000 | 70,894,000 | 55,987,000 | · | · | · | · | |
| Shares (Diluted) | 108,376,000 | 98,849,000 | 88,770,000 | 76,972,000 | 70,894,000 | 55,987,000 | · | · | · | · | |
| EBITDA | $-431M | $-524M | $-506M | $-451M | $-261M | $-130M | $-101M | $-86M | · | $-32M |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $155M | $189M | $227M | $524M | $123M | $160M | $57M | $59M | $341M | $273M | |
| Short-term Investments | $294M | $412M | $685M | $669M | $625M | $437M | $222M | $255M | · | · | |
| Receivables | $9M | $9M | $36M | $4M | $2M | $2M | $5M | $8M | $10M | $6M | |
| Prepaid Expense | $68M | $30M | $50M | $20M | $19M | $17M | $5M | $3M | $4M | $2M | |
| Current Assets | $528M | $640M | $998M | $1.22B | $769M | $617M | $289M | $325M | $355M | $281M | |
| PP&E (Net) | $18M | $27M | $33M | $28M | $21M | $16M | $18M | $17M | $15M | $11M | |
| PP&E (Gross) | $76M | $77M | $73M | $61M | $47M | $35M | $32M | $26M | $20M | $12M | |
| Accum. Depreciation | $59M | $50M | $40M | $33M | $26M | $19M | $14M | $9M | $4M | $1M | |
| Other Non-current Assets | · | · | · | · | · | $5M | $3M | $5M | $6M | $7M | |
| Total Assets | $842M | $1.19B | $1.30B | $1.52B | $1.29B | $676M | $334M | $347M | $376M | $299M | |
| Accounts Payable | $20M | $15M | $7M | $5M | $10M | $10M | $4M | $3M | $2M | $5M | |
| Accrued Liabilities | $50M | $55M | $67M | $61M | $43M | $26M | $13M | $11M | $8M | $6M | |
| Current Liabilities | $104M | $111M | $115M | $127M | $126M | $64M | $36M | $41M | $31M | $31M | |
| Capital Leases | $67M | $190M | $97M | $114M | $65M | $34M | $13M | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | $0 | · | · | $13.0K | $168.0K | $293.0K | |
| Total Liabilities | $171M | $319M | $251M | $285M | · | · | · | · | · | · | |
| Common Stock | $12.0K | $10.0K | $9.0K | $9.0K | $7.0K | $7.0K | $5.0K | $5.0K | $4.0K | $4.0K | |
| Retained Earnings | $-2.59B | $-2.18B | $-1.66B | $-1.18B | $-703M | $-435M | $-301M | $-201M | $-121M | $-54M | |
| AOCI | $1M | $605.0K | $-2M | $-7M | $-3M | $1.0K | $261.0K | $-28.0K | · | · | |
| Stockholders' Equity | $671M | $872M | $1.05B | $1.24B | $1.04B | $527M | $270M | $278M | $301M | $210M | |
| Liabilities + Equity | $842M | $1.19B | $1.30B | $1.52B | $1.29B | $676M | $334M | $347M | $376M | $299M | |
| Shares Outstanding | 116,317,060 | 102,029,594 | 92,997,158 | 87,103,007 | 74,485,883 | 66,234,056 | 50,198,044 | 45,224,480 | 42,384,623 | 36,018,540 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $10M | $10M | $9M | $8M | $7M | $6M | $6M | $4M | $3M | $1M | |
| Stock-based Comp | $80M | $154M | $134M | $91M | $47M | $20M | $15M | $17M | $15M | $7M | |
| Other Non-cash | $-72M | $6M | $-56M | $42M | $-11M | $58M | $-24M | $3M | · | · | |
| Operating Cash Flow | $-395M | $-349M | $-394M | $-333M | $-225M | $-50M | $-103M | $-61M | $-65M | $36M | |
| CapEx | $1M | $6M | $14M | $14M | $13M | $4M | $7M | $6M | $10M | $6M | |
| Investing Cash Flow | $228M | $126M | $-31M | $160M | $-551M | $-214M | $25M | $-261M | $-10M | $-6M | |
| Stock Issued | $128M | $177M | $120M | · | $1.82B | $1.12B | $72M | $29M | $141M | $171M | |
| Net Stock Activity | $128M | · | · | · | $1.82B | $1.12B | $72M | $29M | · | $171M | |
| Financing Cash Flow | $131M | $186M | $130M | $583M | $737M | $372M | $76M | $40M | $143M | $167M | |
| Net Change in Cash | $-35M | $-38M | $-295M | $410M | $-39M | $107M | $-2M | $-282M | $68M | $197M | |
| Free Cash Flow | $-396M | $-355M | $-408M | $-347M | $-238M | $-53M | $-110M | $-68M | · | $30M |
Profitability 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -651.7% | -923.1% | -1420.5% | -879.0% | -810.4% | -235.5% | -246.8% | -298.6% | · | · | |
| Net Margin | -609.8% | -896.8% | -1326.5% | -909.8% | -810.5% | -231.5% | -230.9% | -280.4% | · | · | |
| EBITDA Margin | -637.2% | -905.3% | -1395.8% | -864.5% | -789.5% | -224.6% | -233.8% | -283.9% | · | · | |
| ROA | -40.6% | -41.7% | -34.1% | -33.7% | -27.2% | -26.6% | -29.2% | -23.6% | · | -16.6% | |
| ROE | -59.5% | -56.6% | -46.1% | -46.0% | -24.9% | -31.3% | -36.5% | -31.5% | · | -33.5% | |
| ROIC | · | · | · | · | · | · | · | · | · | -15.3% |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.1 | 5.8 | 8.7 | 9.6 | 6.1 | 9.6 | 8.1 | 8.0 | · | 9.2 | |
| Quick Ratio | 4.4 | 5.5 | 8.2 | 9.5 | 6.0 | 9.3 | 8.0 | 1.6 | · | 9.1 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | · | · | |
| Receivables Turnover | 7.5 | 6.7 | 1.7 | 13.4 | 14.6 | 34.7 | 10.5 | 3.4 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 16.9% | 59.6% | -30.4% | 57.7% | -43.0% | · | · | · | · | · | |
| Revenue CAGR 3Y | 9.1% | 20.5% | -14.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 3.1% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $68M | $58M | $36M | $52M | $33M | $58M | $43M | $30M | $26M | $16M | |
| Net Income TTM | $-413M | $-519M | $-481M | $-474M | $-268M | $-134M | $-474M | $-85M | $-68M | $-32M | |
| Market Cap | $1.05B | $1.19B | $2.84B | $3.04B | $8.81B | $2.73B | $736M | $617M | · | $472M | |
| P/E | -2.4 | -2.2 | -5.6 | -5.7 | -31.3 | -22.7 | · | · | · | · | |
| P/S | 15.5 | 20.6 | 78.2 | 58.3 | 266.5 | 47.1 | 17.1 | 20.3 | · | 28.7 | |
| P/B | 1.6 | 1.4 | 2.7 | 2.5 | 8.5 | 5.2 | 2.7 | 2.2 | · | 2.3 | |
| P / Tangible Book | 1.6 | 1.4 | 2.7 | 2.5 | 8.5 | 5.2 | · | · | · | · | |
| P / Cash Flow | -2.6 | -3.4 | -7.2 | -9.1 | -39.1 | -54.7 | -7.1 | -10.1 | · | 13.1 | |
| P / FCF | -2.6 | -3.4 | -6.9 | -8.8 | -37.0 | -51.0 | -6.7 | -9.1 | · | 15.8 | |
| Earnings Yield | -42.4% | -45.0% | -17.8% | -17.7% | -3.2% | -4.4% | · | · | · | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8M | $15M | $23M | $14M | $14M | $17M | $13M | $9M | $7M | $29M | $-2M | $12M | $14M | $13M | $14M | $13M | |
| R&D Expense | $83M | $81M | $89M | $95M | $97M | $108M | $117M | $123M | $114M | $112M | $109M | $114M | $115M | $97M | $100M | $97M | |
| SG&A Expense | $38M | $35M | $33M | $31M | $27M | $29M | $32M | $31M | $32M | $31M | $29M | $29M | $31M | $27M | $24M | $22M | |
| Operating Expenses | $120M | $116M | $122M | $125M | $124M | $137M | $149M | $154M | $146M | $143M | $138M | $143M | $146M | $125M | $124M | $119M | |
| Operating Income | $-113M | $-101M | $-99M | $-111M | $-110M | $-121M | $-136M | $-145M | $-139M | $-114M | $-140M | $-131M | $-132M | $-112M | $-110M | $-106M | |
| Interest Income | $6M | $5M | $6M | $7M | $7M | $9M | $11M | $12M | $12M | $13M | $12M | $13M | $13M | $12M | $5M | $2M | |
| Other Non-op | $6M | $4M | $3M | $10M | $9M | $6M | $8M | $9M | $-8M | $7M | $8M | $9M | $9M | $9M | $-3M | $-8M | |
| Net Income | $-107M | $-96M | $-96M | $-101M | $-101M | $-114M | $-129M | $-136M | $-147M | $-107M | $-132M | $-122M | $-124M | $-103M | $-113M | $-113M | |
| EPS (Basic) | $-0.80 | $-0.81 | $-0.81 | $-0.92 | $-0.98 | $-1.10 | $-1.27 | $-1.34 | $-1.52 | $-1.12 | $-1.47 | $-1.38 | $-1.40 | $-1.17 | $-1.38 | $-1.49 | |
| EPS (Diluted) | $-0.80 | $-0.81 | $-0.81 | $-0.92 | $-0.98 | $-1.10 | $-1.27 | $-1.34 | $-1.52 | $-1.12 | $-1.47 | $-1.38 | $-1.40 | $-1.17 | $-1.38 | $-1.49 | |
| Shares (Basic) | 133,480,000 | 118,490,000 | -209,044,000 | 110,188,000 | 103,732,000 | 103,500,000 | -194,630,000 | 101,002,000 | 96,975,000 | 95,502,000 | -175,832,000 | 88,645,000 | 88,185,000 | 87,772,000 | -149,649,000 | 76,047,000 | |
| Shares (Diluted) | 133,480,000 | 118,490,000 | -209,044,000 | 110,188,000 | 103,732,000 | 103,500,000 | -194,630,000 | 101,002,000 | 96,975,000 | 95,502,000 | -175,832,000 | 88,645,000 | 88,185,000 | 87,772,000 | -149,649,000 | 76,047,000 | |
| EBITDA | $-111M | $-98M | · | $-109M | $-107M | $-118M | · | $-145M | $-139M | $-111M | · | $-131M | $-132M | $-110M | · | $-106M |
Balance Sheet 20
| 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 | $106M | $135M | $155M | $193M | $156M | $127M | $189M | $120M | $131M | $172M | $227M | $168M | $172M | $294M | $524M | $141M | |
| Short-term Investments | $332M | $241M | $294M | $318M | $303M | $377M | $412M | $538M | $560M | $619M | · | $687M | $736M | $639M | · | $687M | |
| Receivables | $7M | $9M | $9M | $11M | $11M | $11M | $9M | $9M | $12M | $36M | $36M | $6M | $5M | $5M | $4M | $4M | |
| Prepaid Expense | $83M | $81M | $68M | $60M | $25M | $37M | $30M | $44M | $54M | $56M | · | $32M | $26M | $25M | · | $27M | |
| Current Assets | $528M | $466M | $528M | $582M | $496M | $551M | $640M | $711M | $757M | $884M | · | $893M | $940M | $964M | · | $859M | |
| PP&E (Net) | $15M | $16M | $18M | $20M | $23M | $25M | $27M | $29M | $30M | $32M | · | $34M | $33M | $32M | · | $27M | |
| PP&E (Gross) | · | · | $76M | · | · | · | $77M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $59M | · | · | · | $50M | · | · | · | · | · | · | · | · | · | |
| Total Assets | $857M | $759M | $842M | $925M | $899M | $986M | $1.19B | $1.17B | $1.19B | $1.26B | · | $1.24B | $1.32B | $1.42B | · | $1.08B | |
| Accounts Payable | $12M | $19M | $20M | $13M | $10M | $12M | $15M | $13M | $19M | $14M | · | $4M | $12M | $7M | · | $4M | |
| Accrued Liabilities | $44M | $38M | $50M | $41M | $42M | $41M | $55M | $51M | $45M | $43M | · | $58M | $50M | $45M | · | $58M | |
| Current Liabilities | $79M | $76M | $104M | $94M | $95M | $113M | $111M | $106M | $105M | $98M | · | $92M | $100M | $103M | · | $131M | |
| Capital Leases | $50M | $61M | $67M | $71M | $76M | $80M | $190M | $82M | $87M | $92M | · | $101M | $106M | $110M | · | $84M | |
| Total Liabilities | $129M | $138M | $171M | $177M | $184M | $206M | $319M | $211M | $220M | $223M | · | $206M | · | · | · | · | |
| Common Stock | $14.0K | $12.0K | $12.0K | $12.0K | $10.0K | $10.0K | $10.0K | $10.0K | $10.0K | $10.0K | · | $9.0K | $9.0K | $9.0K | · | $8.0K | |
| Retained Earnings | $-2.79B | $-2.69B | $-2.59B | $-2.49B | $-2.39B | $-2.29B | $-2.18B | $-2.05B | $-1.91B | $-1.77B | · | $-1.53B | $-1.40B | $-1.28B | · | $-1.06B | |
| AOCI | $-1M | $-240.0K | $1M | $990.0K | $653.0K | $1M | $605.0K | $3M | $-1M | $-947.0K | · | $-4M | $-4M | $-3M | · | $-9M | |
| Stockholders' Equity | $728M | $621M | $671M | $748M | $715M | $780M | $872M | $963M | $971M | $1.04B | $1.05B | $1.04B | $1.10B | $1.19B | $1.24B | $825M | |
| Liabilities + Equity | $857M | $759M | $842M | $925M | $899M | $986M | $1.19B | $1.17B | $1.19B | $1.26B | · | $1.24B | $1.32B | $1.42B | · | $1.08B | |
| Shares Outstanding | 140,018,200 | 120,447,521 | 116,317,060 | 115,787,285 | 105,330,693 | 103,539,685 | 102,029,594 | 101,796,365 | 98,289,150 | 96,333,373 | 92,997,158 | 89,097,821 | 88,347,634 | 88,095,779 | 87,103,007 | 76,587,947 |
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 | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Stock-based Comp | $18M | $13M | $17M | $20M | $22M | $22M | $40M | $40M | $41M | $34M | $35M | $35M | $36M | $27M | $25M | $25M | |
| Restructuring | · | · | · | · | $6M | $6M | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $-37M | · | · | · | $-59M | · | · | · | $-50M | · | · | · | $-36M | · | · | |
| Operating Cash Flow | $-83M | $-117M | $-69M | $-77M | $-100M | $-149M | $-85M | $-85M | $-58M | $-121M | $-93M | $-101M | $-90M | $-109M | $-90M | $-79M | |
| CapEx | $2M | $79.0K | $126.0K | $29.0K | $239.0K | $735.0K | $981.0K | $1M | $1M | $3M | $2M | $4M | $4M | $4M | $4M | $4M | |
| Investing Cash Flow | $-142M | $66M | $28M | $-741.0K | $107M | $94M | $152M | $-8M | $-24M | $6M | $46M | $80M | $-35M | $-122M | $-30M | $48M | |
| Financing Cash Flow | $196M | $34M | $2M | $115M | $15M | $0 | $2M | $82M | $41M | $60M | $106M | $19M | $3M | $2M | $506M | $24M | |
| Net Change in Cash | $-29M | $-17M | $-40M | $37M | $22M | $-55M | $69M | $-10M | $-41M | $-55M | $59M | $-3M | $-122M | $-229M | $386M | $-7M | |
| Free Cash Flow | · | $-117M | · | · | · | $-150M | · | · | · | $-123M | · | · | · | $-113M | · | · |
Profitability 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -1472.2% | -668.1% | · | -808.9% | -772.2% | -726.6% | · | -1589.0% | -1998.6% | -394.0% | · | -1093.3% | -973.5% | -888.1% | · | -795.5% | |
| Net Margin | -1392.3% | -639.5% | · | -735.2% | -710.8% | -687.6% | · | -1489.5% | -2112.6% | -371.3% | · | -1019.2% | -909.8% | -818.1% | · | -853.5% | |
| EBITDA Margin | -1444.8% | -653.4% | · | -791.5% | -754.6% | -711.5% | · | -1589.0% | -1998.6% | -385.3% | · | -1093.3% | -973.5% | -871.9% | · | -795.5% | |
| ROA | -12.1% | -11.0% | · | -9.7% | -9.7% | -10.2% | · | -11.2% | -11.7% | -8.0% | · | -10.5% | -10.2% | -7.9% | · | -9.4% | |
| ROE | -14.8% | -13.7% | · | -11.8% | -12.0% | -12.6% | · | -13.6% | -14.2% | -9.7% | · | -13.1% | -12.5% | -9.6% | · | -11.7% |
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 | 6.6 | 6.1 | · | 6.2 | 5.2 | 4.9 | · | 6.7 | 7.2 | 9.0 | · | 9.7 | 9.4 | 9.3 | · | 6.6 | |
| Quick Ratio | 5.6 | 5.0 | · | 5.6 | 4.9 | 4.6 | · | 6.3 | 6.7 | 8.5 | · | 9.4 | 9.1 | 9.1 | · | 6.3 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | 0.8 | 1.5 | · | 1.4 | 1.2 | 0.7 | · | 1.2 | 0.8 | 1.4 | · | 2.3 | 3.4 | 3.8 | · | 4.1 |
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 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $51M | $60M | · | $54M | $47M | $62M | · | $57M | $61M | $67M | · | $51M | $53M | $51M | · | $46M | |
| Net Income TTM | $-405M | $-413M | · | $-453M | $-498M | $-504M | · | $-512M | $-500M | $-456M | · | $-462M | $-441M | $-464M | · | $-432M | |
| Market Cap | $2.37B | $1.54B | · | $2.00B | $988M | $736M | · | $2.09B | $2.20B | $2.65B | · | $2.82B | $3.60B | $3.28B | · | $4.29B | |
| P/E | -4.8 | -3.4 | · | -4.0 | -1.9 | -1.4 | · | -3.8 | -4.1 | -5.4 | · | -5.8 | -7.6 | -6.3 | · | -9.7 | |
| P/S | 46.7 | 25.9 | · | 37.2 | 21.0 | 11.9 | · | 36.7 | 35.8 | 39.5 | · | 54.7 | 67.3 | 64.2 | · | 93.7 | |
| P/B | 3.3 | 2.5 | · | 2.7 | 1.4 | 0.9 | · | 2.2 | 2.3 | 2.6 | · | 2.7 | 3.3 | 2.8 | · | 5.2 | |
| P / Tangible Book | 3.3 | 2.5 | · | 2.7 | 1.4 | 0.9 | · | 2.2 | 2.3 | 2.6 | · | 2.7 | 3.3 | 2.8 | · | 5.2 | |
| P / Cash Flow | · | -13.2 | · | · | · | -4.9 | · | · | · | -22.0 | · | · | · | -30.0 | · | · | |
| P / FCF | · | -13.2 | · | · | · | -4.9 | · | · | · | -21.5 | · | · | · | -29.0 | · | · | |
| Earnings Yield | -20.7% | -29.7% | · | -25.1% | -52.7% | -71.5% | · | -26.1% | -24.2% | -18.4% | · | -17.2% | -13.2% | -16.0% | · | -10.3% |
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 | $68M | $58M | $36M | $52M | $33M |
| Operating Margin % | -651.7% | -923.1% | -1420.5% | -879.0% | -810.4% |
| Net Income | $-413M | $-519M | $-481M | $-474M | $-268M |
| Diluted EPS | $-3.81 | $-5.25 | $-5.42 | $-6.16 | $-3.78 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 5.1 | 5.8 | 8.7 | 9.6 | 6.1 |
| Quick Ratio | 4.4 | 5.5 | 8.2 | 9.5 | 6.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-396M | $-355M | $-408M | $-347M | $-238M |
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Institutional owners (13F) 373 filers · $2.1B 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 |
|---|---|---|---|---|
| 66 (+4 vs prior Q) | 28 (-14 vs prior Q) | 131 (+7 vs prior Q) | 82 (+12 vs prior Q) | +44.2M |
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 |
|---|---|---|---|---|
| ARK Investment Management LLC | $285,536,575 | 16,875,684 | 13.62% | Shares |
| STATE STREET CORP | $156,255,980 | 9,234,987 | 7.46% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $124,064,225 | 7,332,401 | 5.92% | Shares |
| VANGUARD GROUP INC | $109,190,661 | 12,145,791 | 5.21% | Shares |
| D. E. Shaw & Co., Inc. | $109,021,025 | 6,443,323 | 5.20% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $102,003,675 | 6,028,586 | 4.87% | Shares |
| TWO SIGMA INVESTMENTS, LP | $88,582,088 | 5,235,348 | 4.23% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $76,595,588 | 4,526,926 | 3.65% | Shares |
| FMR LLC | $69,353,456 | 4,098,904 | 3.31% | Shares |
| REGENERON PHARMACEUTICALS, INC. | $62,654,675 | 3,702,995 | 2.99% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $55,510,459 | 3,280,760 | 2.65% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $52,683,658 | 3,112,991 | 2.51% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $49,026,191 | 2,897,529 | 2.34% | Shares |
| Amova Asset Management Americas, Inc. | $49,026,191 | 2,897,529 | 2.34% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $41,173,682 | 2,433,433 | 1.96% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $34,962,744 | 2,066,356 | 1.67% | Shares |
| Contrarius Group Holdings Ltd | $33,082,458 | 1,955,228 | 1.58% | Shares |
| ARMISTICE CAPITAL, LLC | $25,380,000 | 1,500,000 | 1.21% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $23,688,068 | 1,400,004 | 1.13% | Shares |
| GOLDMAN SACHS GROUP INC | $22,647,589 | 1,338,510 | 1.08% | Shares |
| TWO SIGMA ADVISERS, LP | $21,093,390 | 2,346,317 | 1.01% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $20,438,362 | 1,207,941 | 0.98% | Shares |
| Ghisallo Capital Management LLC | $20,304,000 | 1,200,000 | 0.97% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $18,227,916 | 1,077,300 | 0.87% | Call option |
| Woodline Partners LP | $18,194,905 | 1,075,349 | 0.87% | Shares |
| BAKER BROS. ADVISORS LP | $15,739,525 | 930,232 | 0.75% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $15,585,367 | 921,121 | 0.74% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $15,210,454 | 898,963 | 0.73% | Shares |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $13,162,880 | 777,948 | 0.63% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $12,284,884 | 726,057 | 0.59% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,958,729 | 647,679 | 0.52% | Shares |
| Marex Group Ltd | $10,551,312 | 623,600 | 0.50% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $9,776,799 | 577,825 | 0.47% | Shares |
| RAYMOND JAMES FINANCIAL INC | $9,428,010 | 557,211 | 0.45% | Shares |
| BlackRock, Inc. | $9,138,594 | 540,106 | 0.44% | Shares |
| MILLENNIUM MANAGEMENT LLC | $8,311,544 | 491,226 | 0.40% | Shares |
| BANK OF AMERICA CORP /DE/ | $7,682,391 | 454,042 | 0.37% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,267,140 | 429,500 | 0.35% | Put option |
| Caption Management, LLC | $6,757,848 | 399,400 | 0.32% | Call option |
| Point72 Asset Management, L.P. | $6,741,994 | 398,463 | 0.32% | Shares |
| Birchview Capital, LP | $6,520,968 | 385,400 | 0.31% | Shares |
| CITADEL ADVISORS LLC | $6,321,312 | 373,600 | 0.30% | Put option |
| Vestmark Advisory Solutions, Inc. | $6,024,028 | 356,030 | 0.29% | Shares |
| Casdin Capital, LLC | $6,006,600 | 355,000 | 0.29% | Shares |
| GFS Advisors, LLC | $5,815,143 | 130 | 0.28% | Shares |
| FIRST TRUST ADVISORS LP | $5,749,534 | 339,807 | 0.27% | Shares |
| PINNACLE ASSOCIATES LTD | $5,736,286 | 339,024 | 0.27% | Shares |
| HIMENSION CAPITAL (SINGAPORE) PTE. LTD. | $5,531,030 | 326,893 | 0.26% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $5,048,589 | 298,380 | 0.24% | Shares |
| Trexquant Investment LP | $5,045,104 | 298,174 | 0.24% | Shares |
| JANE STREET GROUP, LLC | $5,030,316 | 297,300 | 0.24% | Put option |
| JANE STREET GROUP, LLC | $4,999,860 | 295,500 | 0.24% | Call option |
| UBS Group AG | $4,967,509 | 293,588 | 0.24% | Call option |
| Swiss National Bank | $4,350,132 | 257,100 | 0.21% | Shares |
| CITADEL ADVISORS LLC | $4,238,460 | 250,500 | 0.20% | Call option |
| Opaleye Management Inc. | $4,230,000 | 250,000 | 0.20% | Shares |
| AMERICAN CENTURY COMPANIES INC | $4,044,151 | 239,016 | 0.19% | Shares |
| CITIGROUP INC | $3,814,732 | 225,457 | 0.18% | Shares |
| DEUTSCHE BANK AG\ | $3,562,506 | 210,550 | 0.17% | Shares |
| Susquehanna Portfolio Strategies, LLC | $3,544,080 | 209,461 | 0.17% | Shares |
| XTX Topco Ltd | $3,408,297 | 201,436 | 0.16% | Shares |
| DIADEMA PARTNERS LP | $3,384,000 | 200,000 | 0.16% | Call option |
| WASATCH ADVISORS LP | $3,357,096 | 261,864 | 0.16% | Shares |
| LPL Financial LLC | $3,239,842 | 191,480 | 0.15% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $3,226,187 | 190,673 | 0.15% | Shares |
| ELEVATION POINT WEALTH PARTNERS, LLC | $3,184,463 | 188,207 | 0.15% | Shares |
| SECTOR GAMMA AS | $3,133,195 | 185,177 | 0.15% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $3,100,844 | 183,265 | 0.15% | Shares |
| RHUMBLINE ADVISERS | $2,990,177 | 176,725 | 0.14% | Shares |
| UBS Group AG | $2,881,797 | 170,319 | 0.14% | Shares |
| CITADEL ADVISORS LLC | $2,786,927 | 164,712 | 0.13% | Shares |
| WOLVERINE TRADING, LLC | $2,759,652 | 163,100 | 0.13% | Call option |
| Rafferty Asset Management, LLC | $2,700,111 | 159,581 | 0.13% | Shares |
| BLAIR WILLIAM & CO/IL | $2,582,195 | 152,612 | 0.12% | Shares |
| Bank of New York Mellon Corp | $2,538,795 | 150,047 | 0.12% | Shares |
| Point72 Asset Management, L.P. | $2,431,404 | 143,700 | 0.12% | Call option |
| BARCLAYS PLC | $2,430,001 | 143,617 | 0.12% | Shares |
| MARSHALL WACE, LLP | $2,377,903 | 140,538 | 0.11% | Shares |
| Jefferies Financial Group Inc. | $2,233,440 | 132,000 | 0.11% | Call option |
| WELLS FARGO & COMPANY/MN | $1,991,281 | 117,688 | 0.10% | Shares |
| TUDOR INVESTMENT CORP ET AL | $1,978,083 | 116,908 | 0.09% | Shares |
| GROUP ONE TRADING LLC | $1,925,970 | 113,828 | 0.09% | Shares |
| AMERIPRISE FINANCIAL INC | $1,892,012 | 111,821 | 0.09% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,837,747 | 143,350 | 0.09% | Shares |
| OPPENHEIMER & CO INC | $1,818,105 | 107,453 | 0.09% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $1,780,170 | 105,211 | 0.08% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,772,480 | 138,259 | 0.08% | Shares |
| Cubist Systematic Strategies, LLC | $1,762,421 | 102,051 | 0.08% | Shares |
| Elmwood Wealth Management, Inc. | $1,741,813 | 102,944 | 0.08% | Shares |
| Deuterium Capital Management, LLC | $1,692,000 | 100,000 | 0.08% | Shares |
| MORGAN STANLEY | $1,641,240 | 97,000 | 0.08% | Shares |
| D.A. DAVIDSON & CO. | $1,616,537 | 95,540 | 0.08% | Shares |
| Headlands Technologies LLC | $1,594,710 | 94,250 | 0.08% | Shares |
| Havemeyer Place LP | $1,522,580 | 89,987 | 0.07% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $1,493,308 | 88,257 | 0.07% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,486,405 | 87,849 | 0.07% | Shares |
| Engineers Gate Manager LP | $1,433,598 | 84,728 | 0.07% | Shares |
| Caption Management, LLC | $1,433,124 | 84,700 | 0.07% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $1,427,693 | 84,379 | 0.07% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $1,419,835 | 85,122 | 0.07% | Shares |
Company insiders 31 insiders · 17 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| John M. Leonard | President and CEO | March 1, 2026 A | 1,169,739 | 0 | 4 | $-1,150,869 |
| Nessan Bermingham | President & CEO | Dec. 12, 2017 A | 458,250 | 0 | 0 | $0 |
| Edward J Dulac III | EVP, Chief Financial Officer | July 22, 2026 S | 148,175 | 0 | 3 | $-234,186 |
| Glenn Goddard | EVP, Chief Financial Officer | March 1, 2024 A | 69,213 | 0 | 0 | $0 |
| Graeme Bell | EVP, Chief Financial Officer | March 28, 2018 M | 21,400 | 0 | 0 | $0 |
| Andrew Schiermeier | EVP, Chief Operating Officer | March 3, 2021 A | 16,656 | 0 | 0 | $0 |
| Dube Michael P | VP, Chief Accounting Officer | July 1, 2026 S | 66,886 | 0 | 3 | $-104,363 |
| Birgit C Schultes | EVP, Chief Scientific Officer | March 1, 2026 A | 137,733 | 0 | 2 | $-78,898 |
| Eliana Clark | EVP, Chief Technical Officer | March 1, 2026 A | 93,864 | 0 | 2 | $-95,997 |
| David Lebwohl | EVP, Chief Medical Officer | March 1, 2026 A | 131,192 | 0 | 1 | $-109,627 |
| James Basta | EVP, General Counsel | March 1, 2026 A | 156,794 | 0 | 2 | $-112,444 |
| Derek Hicks | EVP, Chief Business Officer | Jan. 3, 2025 S | 59,878 | 0 | 0 | $0 |
| Laura Sepp-Lorenzino | EVP, Chief Scientific Officer | Jan. 3, 2025 S | 77,388 | 0 | 0 | $0 |
| Jose E Rivera | EVP, General Counsel | April 1, 2021 M | 162,388 | 0 | 0 | $0 |
| Nicole Heifner | SVP, Accounting | Jan. 6, 2017 A | — | 0 | 0 | $0 |
| David V Morrissey | SVP, Platform & Delivery Tech | Jan. 6, 2017 A | — | 0 | 0 | $0 |
| Thomas M. Barnes | SVP, R&D eXtellia | Jan. 6, 2017 A | — | 0 | 0 | $0 |
| Muna Bhanji | Director | June 9, 2026 A | 36,403 | 0 | 0 | $0 |
| Georgia Keresty | Director | June 9, 2026 A | 41,083 | 0 | 0 | $0 |
| Jesse Goodman | Director | June 9, 2026 A | 33,559 | 0 | 0 | $0 |
| William J Chase | Director | June 9, 2026 A | 143,893 | 1 | 0 | $1,003,000 |
| Brian Goff | Director | June 9, 2026 A | 32,609 | 0 | 0 | $0 |
| Frank Verwiel | Director | June 9, 2026 A | 35,148 | 0 | 0 | $0 |
| Fred Cohen | Director | June 9, 2026 A | 216,653 | 1 | 0 | $1,402,500 |
| John F Crowley | Director | June 14, 2023 A | 11,716 | 0 | 0 | $0 |
| Caroline Dorsa | Director | June 14, 2022 A | 12,701 | 0 | 0 | $0 |
| FORMELA JEAN FRANCOIS | Director | June 14, 2022 A | 7,291 | 0 | 0 | $0 |
| Perry A Karsen | Director | Dec. 17, 2020 M | 5,000 | 0 | 0 | $0 |
| Moncef Slaoui | Director | July 25, 2017 A | — | 0 | 0 | $0 |
| GORDON CARL L | Director | May 18, 2017 A | 2,662,180 | 0 | 0 | $0 |
| Rachel E. Haurwitz | Director | May 11, 2016 C | 5,593,846 | 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 |
|---|---|---|---|---|---|
| Novartis Institutes for BioMedical Research, Inc., Novartis AG ×6 filings | Jan. 22, 2021 | — | Initial filing | — | SEC |
| OrbiMed Advisors LLC, OrbiMed Capital GP V LLC, OrbiMed Global Healthcare GP LLC ×4 filings | Feb. 16, 2018 | — | 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 56 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 |
|---|---|---|---|---|
| ARKG · ARK ETF Trust | 3.82% | 3,498,399 NS | April 30, 2026 | N-PORT |
| ARKK · ARK ETF Trust | 2.06% | 9,902,541 NS | April 30, 2026 | N-PORT |
| GNOM · Global X Funds | 1.59% | 63,134 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 1.10% | 30,599 NS | April 30, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.56% | 215,007 NS | April 30, 2026 | N-PORT |
| IDNA · iShares Trust | 0.52% | 91,888 SH | Aug. 8, 2026 | Daily |
| HRTS · Tema ETF Trust | 0.38% | 13,892 NS | May 31, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.24% | 47,560 NS | May 31, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.23% | 182,175 NS | April 30, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.15% | 117,485 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.13% | 325,592 SH | Aug. 8, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.12% | 108,015 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.11% | 970,139 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.11% | 7,603 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.10% | 201,195 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.10% | 1,252,101 SH | Aug. 8, 2026 | Daily |
| GINN · Goldman Sachs ETF Trust | 0.10% | 14,553 NS | May 31, 2026 | N-PORT |
| BIB · ProShares Trust | 0.08% | 4,369 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 43,955 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.07% | 777,703 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.06% | 1,798,189 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.05% | 3,453,158 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.05% | 16,989 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.05% | 29,274 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.05% | 48,088 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.04% | 10,659 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.04% | 5,225 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.04% | 633,495 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.04% | 385,133 NS | April 30, 2026 | N-PORT |
| TECB · iShares Trust | 0.03% | 13,023 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 1,604,561 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.03% | 3,110,166 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.03% | 385,422 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 50,707 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.02% | 4,087 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.02% | 5,883 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.02% | 5,693 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 12,727 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 4,136 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 6,761 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.01% | 319,151 NS | April 30, 2026 | N-PORT |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.01% | 70 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 17,865 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 4,295 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 104 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 40,956 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 6,589 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 32,357 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 37,911 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 197,403 SH | Aug. 8, 2026 | Daily |