OBIO Orchestra BioMed Holdings, Inc. - Ordinary Shares
NASDAQ · Health Care · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 10, 2026
$5.95
· of 52w range
· above low
· to high
$2.6652w low
$6.5052w high
Market Cap (MRQ)
$358M
P/E (TTM)
-7.2
EPS (TTM)
$-0.83
Revenue (TTM)
$32M
your badges
52W Range
$3–$6
Analyst Rating
BUY
Price Target
$12
P/E
-7.2
ROE
-601.8%
Net Profit Margin
-184.6%
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OBIO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$5.95
Market Cap (MRQ)
$358M
P/E (TTM)
-7.2
EPS (TTM)
$-0.83
Revenue (TTM)
$32M
ROE (TTM)
-601.8%
52W Range
$3–$7
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$33M2022-12-31 → 2025-12-31
EPS$-1.112021-12-31 → 2025-12-31
Free Cash Flow$-49M2023-12-31 → 2025-12-31
Net margin-184.6%2023-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | OBIO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -7.25Y avg ≈-104.2 | ≈-104.2 | · | · | |
| P/S (TTM) | 11.25Y avg ≈49.0 | ≈49.0 | 5.5 | Overvalued | |
| P/B (MRQ) | 18.55Y avg ≈-0.8 | ≈-0.8 | 4.6 | Overvalued | |
| Price / FCF (TTM) | -6.15Y avg ≈-5.0 | ≈-5.0 | · | · | |
| Price / Cash Flow (TTM) | -6.15Y avg ≈-41.6 | ≈-41.6 | · | · | |
| Price / Tangible Book | 6.35Y avg ≈3.7 | ≈3.7 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | OBIO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -181.4%5Y avg ≈-1486.1% | ≈-1486.1% | -58.4% | Weak | |
| EBITDA Margin (TTM) | -180.3%5Y avg ≈-1478.4% | ≈-1478.4% | -58.4% | Weak | |
| Net Profit Margin (TTM) | -184.6%5Y avg ≈-1416.8% | ≈-1416.8% | -57.3% | Weak | |
| ROA (TTM) | -74.5%5Y avg ≈-36.1% | ≈-36.1% | -32.6% | Weak | |
| ROE (TTM) | -601.8%5Y avg ≈-83.3% | ≈-83.3% | -106.9% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | OBIO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 8.35Y avg ≈5.9 | ≈5.9 | 4.9 | Strong liquidity | |
| Quick Ratio (MRQ) | 8.25Y avg ≈5.8 | ≈5.8 | 3.7 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | OBIO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 1169.2%5Y avg ≈381.0% | ≈381.0% | · | · | |
| Revenue CAGR 3Y | 111.6% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | OBIO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.1 | ≈0.1 | 0.6 | Weak | |
| Inventory Turnover | 0.85Y avg ≈1.0 | ≈1.0 | 1.5 | Weak | |
| Receivables Turnover | 358.15Y avg ≈138.0 | ≈138.0 | 6.6 | Top tier | |
| Revenue / Employee | ≈$389.3K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
18.1%
Next Report
Nov 09, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 18, 2026 | $-0.38 | $-0.40 | 5.0% |
| March 31, 2026 | May 18, 2026 | $-0.33 | $-0.44 | 24.9% |
| Dec. 31, 2025 | $-0.13 | $-0.39 | 66.3% | |
| Sept. 30, 2025 | $-0.40 | $-0.44 | 9.8% | |
| June 30, 2025 | $-0.50 | $-0.51 | 2.7% | |
| March 31, 2025 | $-0.49 | $-0.49 | 0.12% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $33M | $3M | $3M | $4M | |
| Cost of Revenue | $190.0K | $204.0K | $186.0K | $211.0K | |
| R&D Expense | $58M | $43M | $34M | $22M | |
| SG&A Expense | $27M | $24M | $20M | $14M | |
| Operating Expenses | $85M | $67M | $54M | $36M | |
| Operating Income | $-52M | $-64M | $-52M | $-33M | |
| Interest Income | · | · | · | $345.1K | |
| Other Non-op | · | $-11.0K | · | · | |
| Income Tax | $0 | · | · | · | |
| Net Income | $-53M | $-61M | $-49M | $-34M | |
| EPS (Basic) | $-1.11 | $-1.66 | $-1.48 | $-2.24 | |
| EPS (Diluted) | $-1.11 | $-1.66 | $-1.48 | $-2.24 | |
| Shares (Basic) | 47,747,078 | 36,821,042 | 33,225,227 | 14,988,584 | |
| Shares (Diluted) | 47,747,078 | 36,821,042 | 33,225,227 | 14,988,584 | |
| EBITDA | $-51M | $-64M | $-51M | $-3M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $35M | $22M | $31M | $20M | |
| Short-term Investments | $72M | $45M | $57M | $64M | |
| Receivables | $95.0K | $92.0K | $99.0K | $96.0K | |
| Inventory | $310.0K | $173.0K | $146.0K | $276.0K | |
| Prepaid Expense | $994.0K | $2M | $1M | $533.0K | |
| Current Assets | $108M | $69M | $89M | $85M | |
| PP&E (Net) | $2M | $1M | $1M | $1M | |
| PP&E (Gross) | $3M | $3M | $2M | $2M | |
| Accum. Depreciation | $2M | $1M | $1M | $778.0K | |
| Total Assets | $115M | $76M | $95M | $96M | |
| Accounts Payable | $6M | $5M | $3M | $4M | |
| Accrued Liabilities | $10M | $6M | $5M | $5M | |
| Current Liabilities | $17M | $16M | $11M | $19M | |
| Capital Leases | $936.0K | $2M | $1M | $2M | |
| Deferred Tax | $393.0K | $561.0K | $508.0K | $637.0K | |
| Other Non-current Liabilities | $308.0K | $40.0K | · | $196.0K | |
| Total Liabilities | $51M | $43M | $27M | $43M | |
| Long-term Debt | $15M | $15M | · | · | |
| Common Stock | $6.0K | $4.0K | $4.0K | $2.0K | |
| Paid-in Capital | $416M | $343M | $317M | $252M | |
| Retained Earnings | $-363M | $-310M | $-249M | $-200M | |
| AOCI | $60.0K | $52.0K | $-10.0K | $-8.0K | |
| Stockholders' Equity | $54M | $33M | $68M | $53M | |
| Liabilities + Equity | $115M | $76M | $95M | $96M | |
| Shares Outstanding | 57,032,963 | 38,194,442 | 35,777,412 | 20,187,850 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $327.0K | $308.0K | $287.0K | $222.0K | |
| Stock-based Comp | $12M | $11M | $8M | $3M | |
| Other Non-cash | $-9M | $-457.0K | $-5M | · | |
| Operating Cash Flow | $-49M | $-51M | $-46M | $-29M | |
| CapEx | $489.0K | $289.0K | $78.0K | $591.0K | |
| Investing Cash Flow | $-27M | $13M | $11M | $-64M | |
| Net Debt Issued | · | · | $-11M | · | |
| Financing Cash Flow | $88M | $29M | $46M | $103M | |
| Net Change in Cash | $12M | $-8M | $11M | $10M | |
| Free Cash Flow | $-49M | $-51M | $-46M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Margin | -154.7% | -2437.5% | -1866.2% | · | |
| Net Margin | -157.4% | -2313.3% | -1779.7% | · | |
| EBITDA Margin | -153.8% | -2425.8% | -1855.8% | · | |
| ROA | -55.2% | -71.2% | -51.5% | -2.4% | |
| ROE | -195.7% | -154.2% | -66.5% | -10.0% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 6.4 | 4.3 | 8.0 | 0.2 | |
| Quick Ratio | 6.4 | 4.1 | 7.8 | 0.1 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.0 | 0.0 | · | |
| Inventory Turnover | 0.8 | 1.3 | 0.9 | · | |
| Receivables Turnover | 358.1 | 27.6 | 28.3 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Book Value / Share | $0.94 | $0.86 | $1.90 | $-1.56 | |
| Revenue / Share | $0.70 | $0.07 | $0.08 | · | |
| Cash Flow / Share | $-1.03 | $-1.37 | $-1.39 | $-0.10 | |
| Cash / Share | $0.61 | $0.58 | $0.85 | $0.04 | |
| EPS (TTM) | $-1.11 | $-1.66 | $-1.48 | $-2.24 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | 1169.2% | -4.4% | -21.9% | · | |
| Revenue CAGR 3Y | 111.6% | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $33M | $3M | $3M | $4M | |
| Net Income TTM | $-53M | $-61M | $-49M | $-34M | |
| Market Cap | $237M | $153M | $327M | $44M | |
| P/E | -3.7 | -2.4 | -6.2 | -4.5 | |
| P/S | 7.1 | 57.9 | 118.4 | 12.6 | |
| P/B | 4.4 | 4.6 | 4.8 | -6.4 | |
| P / Tangible Book | 4.4 | 4.6 | 4.8 | 0.8 | |
| P / Cash Flow | -4.8 | -3.0 | -7.1 | -28.1 | |
| P / FCF | -4.8 | -3.0 | -7.1 | · | |
| Earnings Yield | -26.8% | -41.5% | -16.2% | -22.4% |
Income Statement
| 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 | $88.0K | $110.0K | $31M | $861.0K | $836.0K | $868.0K | $253.0K | $987.0K | $778.0K | $620.0K | $262.0K | $419.0K | $915.0K | $1M | $1M | $1M | |
| Cost of Revenue | $25.0K | $32.0K | $51.0K | $49.0K | $46.0K | $44.0K | $58.0K | $68.0K | $44.0K | $34.0K | $47.0K | $41.0K | $54.0K | $44.0K | $53.0K | $56.0K | |
| R&D Expense | $17M | $16M | $17M | $14M | $14M | $13M | $11M | $12M | $11M | $9M | $9M | $9M | $8M | $8M | $8M | $6M | |
| SG&A Expense | $6M | $6M | $7M | $7M | $6M | $6M | $6M | $6M | $6M | $6M | $4M | $6M | $5M | $4M | $3M | $5M | |
| Operating Expenses | $22M | $22M | $24M | $21M | $20M | $20M | $17M | $17M | $18M | $15M | $13M | $15M | $14M | $13M | $11M | $11M | |
| Operating Income | $-22M | $-22M | $7M | $-20M | $-19M | $-19M | $-17M | $-16M | $-17M | $-14M | $-12M | $-15M | $-13M | $-12M | $-10M | $-10M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | $351.0K | · | · | |
| Other Non-op | · | · | · | · | · | · | $0 | $0 | $0 | $-11.0K | · | · | · | · | · | · | |
| Net Income | $-24M | $-21M | $6M | $-21M | $-19M | $-19M | $-16M | $-15M | $-16M | $-13M | $-13M | $-13M | $-12M | $-11M | $-10M | $-10M | |
| EPS (Basic) | $-0.38 | $-0.33 | $0.28 | $-0.40 | $-0.50 | $-0.49 | $-0.42 | $-0.41 | $-0.45 | $-0.38 | $-0.35 | $-0.38 | $-0.35 | $-0.40 | $-0.34 | $-0.51 | |
| EPS (Diluted) | $-0.38 | $-0.33 | $0.28 | $-0.40 | $-0.50 | $-0.49 | $-0.42 | $-0.41 | $-0.45 | $-0.38 | $-0.35 | $-0.38 | $-0.35 | $-0.40 | $-0.34 | $-0.51 | |
| Shares (Basic) | 63,812,098 | 62,721,869 | · | 52,186,503 | 38,392,716 | 38,235,409 | · | 37,621,495 | 35,800,273 | 35,777,877 | · | 35,243,598 | 34,613,466 | 27,643,549 | · | 20,187,773 | |
| Shares (Diluted) | 63,812,098 | 62,721,869 | · | 52,186,503 | 38,392,716 | 38,235,409 | · | 37,621,495 | 35,800,273 | 35,777,877 | · | 35,243,598 | 34,613,466 | 27,643,549 | · | 20,187,773 | |
| EBITDA | $-22M | $-22M | · | $-20M | $-19M | $-19M | · | $-16M | $-17M | $-14M | · | $-15M | $-13M | $-11M | · | $-813.4K |
Balance Sheet
| 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 | $20M | $28M | $35M | $42M | $19M | $18M | $22M | $26M | $24M | $23M | $31M | $19M | $16M | $19M | $20M | $735.2K | |
| Short-term Investments | $89M | $66M | $72M | $54M | $15M | $32M | $45M | $41M | $41M | $52M | $57M | $89M | $101M | $108M | $64M | · | |
| Receivables | $51.0K | $84.0K | $95.0K | $52.0K | $83.0K | $89.0K | $92.0K | $115.0K | $80.0K | $67.0K | $99.0K | $86.0K | $171.0K | $76.0K | $96.0K | · | |
| Inventory | $250.0K | $277.0K | $310.0K | $365.0K | $185.0K | $135.0K | $173.0K | $234.0K | $70.0K | $115.0K | $146.0K | $137.0K | $178.0K | $232.0K | $276.0K | · | |
| Prepaid Expense | $977.0K | $1M | $994.0K | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $533.0K | $137.3K | |
| Current Assets | $111M | $96M | $108M | $98M | $36M | $52M | $69M | $69M | $66M | $76M | $89M | $110M | $120M | $130M | $85M | $872.6K | |
| PP&E (Net) | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | |
| PP&E (Gross) | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | |
| Accum. Depreciation | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $993.0K | $921.0K | $849.0K | $778.0K | · | |
| Total Assets | $116M | $101M | $115M | $105M | $43M | $59M | $76M | $75M | $72M | $83M | $95M | $116M | $126M | $136M | $96M | $69M | |
| Accounts Payable | $6M | $6M | $6M | $8M | $5M | $6M | $5M | $5M | $6M | $3M | $3M | $3M | $3M | $3M | $4M | $281.6K | |
| Accrued Liabilities | $7M | $7M | $10M | $7M | $7M | $5M | $6M | $7M | $4M | $4M | $5M | $4M | $4M | $3M | $5M | $1M | |
| Current Liabilities | $13M | $14M | $17M | $21M | $17M | $15M | $16M | $16M | $15M | $10M | $11M | $21M | $12M | $12M | $19M | $1M | |
| Capital Leases | $520.0K | $730.0K | $936.0K | $1M | $1M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $2M | · | |
| Deferred Tax | · | · | $393.0K | · | · | · | $561.0K | · | · | · | $508.0K | · | · | · | $637.0K | · | |
| Other Non-current Liabilities | $397.0K | $367.0K | $308.0K | $248.0K | $189.0K | $99.0K | $40.0K | · | · | · | · | $266.0K | $213.0K | $249.0K | $196.0K | · | |
| Total Liabilities | $86M | $50M | $51M | $61M | $43M | $42M | $43M | $29M | $28M | $25M | $27M | $37M | $36M | $37M | $43M | $7M | |
| Long-term Debt | · | $15M | $15M | $15M | $15M | $15M | · | · | · | · | · | $10M | $10M | · | · | · | |
| Common Stock | $6.0K | $6.0K | $6.0K | $6.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $3.0K | $2.0K | $445 | |
| Paid-in Capital | $426M | $424M | $416M | $413M | $348M | $345M | $343M | $340M | $322M | $320M | $317M | $316M | $312M | $310M | $252M | · | |
| Retained Earnings | $-407M | $-383M | $-363M | $-369M | $-348M | $-329M | $-310M | $-294M | $-278M | $-262M | $-249M | $-236M | $-223M | $-211M | $-200M | $-6M | |
| AOCI | $-81.0K | $-40.0K | $60.0K | $45.0K | $16.0K | $37.0K | $52.0K | $98.0K | $-23.0K | $-8.0K | $-10.0K | $-77.0K | $-96.0K | $-35.0K | $-8.0K | · | |
| Stockholders' Equity | $19M | $41M | $54M | $44M | $295.0K | $17M | $33M | $46M | $44M | $57M | $68M | $80M | $89M | $100M | $53M | $-6M | |
| Liabilities + Equity | $116M | $101M | $115M | $105M | $43M | $59M | $76M | $75M | $72M | $83M | $95M | $116M | $126M | $136M | $96M | $69M | |
| Shares Outstanding | 60,105,049 | 58,630,715 | 57,032,963 | 56,464,731 | 38,643,553 | 38,312,512 | 38,194,442 | 37,942,905 | 35,824,571 | 35,784,997 | 35,777,412 | 35,743,972 | 35,743,007 | 31,741,147 | 20,187,850 | 4,450,000 |
Cash Flow
| 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 | $96.0K | $90.0K | $82.0K | $81.0K | $81.0K | $83.0K | $84.0K | $76.0K | $74.0K | $74.0K | $72.0K | $71.0K | $73.0K | $71.0K | $70.0K | $54.0K | |
| Stock-based Comp | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $3M | $3M | $919.0K | $4M | $2M | $1M | $863.0K | $2M | |
| Other Non-cash | · | $-4M | · | · | · | $-909.0K | · | · | · | $-2M | · | · | · | $-5M | · | · | |
| Operating Cash Flow | $-19M | $-22M | $-2M | $-15M | $-16M | $-17M | $-14M | $-14M | $-10M | $-13M | $-11M | $-10M | $-10M | $-14M | $-9M | $-20M | |
| CapEx | $254.0K | $184.0K | $33.0K | $310.0K | $34.0K | $112.0K | $106.0K | $68.0K | $107.0K | $8.0K | $-3.0K | $19.0K | $27.0K | $35.0K | $54.0K | $224.0K | |
| Investing Cash Flow | $-23M | $10M | $-18M | $-39M | $16M | $13M | $-4M | $557.0K | $10M | $6M | $33M | $13M | $8M | $-44M | $-63M | $-224.0K | |
| Financing Cash Flow | $35M | $6M | $13M | $76M | $-428.0K | $-296.0K | $14M | $15M | $171.0K | $18.0K | $-11M | $4.0K | $86.0K | $57M | $-5M | $-2M | |
| Net Change in Cash | $-8M | $-6M | $-7M | $23M | $401.0K | $-4M | $-3M | $2M | $389.0K | $-7M | $11M | $3M | $-2M | $-1M | $-77M | $88M | |
| Free Cash Flow | · | $-22M | · | · | · | $-17M | · | · | · | $-13M | · | · | · | $-14M | · | · |
Profitability
| 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 | -25404.5% | -20069.1% | · | -2359.2% | -2311.8% | -2179.8% | · | -1655.7% | -2167.0% | -2326.3% | · | -3466.3% | -1416.0% | -991.8% | · | · | |
| Net Margin | -26994.3% | -18810.0% | · | -2419.1% | -2316.2% | -2160.7% | · | -1562.9% | -2054.0% | -2171.5% | · | -3178.0% | -1316.5% | -939.9% | · | · | |
| EBITDA Margin | -25404.5% | -19987.3% | · | -2359.2% | -2311.8% | -2170.3% | · | -1655.7% | -2167.0% | -2314.3% | · | -3466.3% | -1416.0% | -985.7% | · | · | |
| ROA | -30.0% | -25.9% | · | -23.1% | -33.6% | -26.5% | · | -16.1% | -16.1% | -12.3% | · | -14.4% | -8.4% | -7.3% | · | -0.59% | |
| ROE | -242.2% | -71.3% | · | -46.3% | -87.2% | -50.7% | · | -24.5% | -23.9% | -17.2% | · | -36.2% | -28.6% | -22.9% | · | 13.8% |
Liquidity & Solvency
| 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 | 8.3 | 7.0 | · | 4.7 | 2.1 | 3.4 | · | 4.2 | 4.6 | 7.3 | · | 5.1 | 10.1 | 10.8 | · | 0.6 | |
| Quick Ratio | 8.2 | 6.9 | · | 4.6 | 2.0 | 3.2 | · | 4.1 | 4.5 | 7.2 | · | 5.1 | 9.9 | 10.6 | · | 0.5 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | · | · | -32.9 | · | · |
Efficiency
| 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 | · | · | |
| Inventory Turnover | 0.1 | 0.2 | · | 0.2 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.2 | · | 0.6 | 0.6 | 0.4 | · | · | |
| Receivables Turnover | 1.3 | 1.3 | · | 10.3 | 10.3 | 11.1 | · | 9.8 | 6.2 | 8.7 | · | 9.7 | 10.7 | 30.6 | · | · |
Per Share
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.32 | $0.70 | · | $0.77 | $0.01 | $0.44 | · | $1.22 | $1.23 | $1.60 | · | $2.23 | $2.50 | $3.14 | · | $-1.36 | |
| Revenue / Share | $0.00 | $0.00 | · | $0.02 | $0.02 | $0.02 | · | $0.03 | $0.02 | $0.02 | · | $0.01 | $0.03 | $0.04 | · | · | |
| Cash Flow / Share | · | $-0.35 | · | · | · | $-0.43 | · | · | · | $-0.37 | · | · | · | $-0.52 | · | · | |
| Cash / Share | $0.34 | $0.48 | · | $0.74 | $0.49 | $0.48 | · | $0.67 | $0.66 | $0.65 | · | $0.53 | $0.46 | $0.59 | · | $0.17 | |
| EPS (TTM) | $-0.83 | $-0.95 | · | $-1.81 | $-1.82 | $-1.77 | · | $-1.59 | $-1.56 | $-1.46 | · | $-1.47 | $-1.60 | $-2.02 | · | $-1.91 |
Valuation (TTM)
| 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 | $32M | $33M | · | $3M | $3M | $3M | · | $3M | $2M | $2M | · | $4M | $4M | $4M | · | · | |
| Net Income TTM | $-59M | $-55M | · | $-75M | $-70M | $-66M | · | $-58M | $-56M | $-52M | · | $-46M | $-43M | $-39M | · | $-24M | |
| Market Cap | $259M | $249M | · | $140M | $104M | $164M | · | $195M | $292M | $189M | · | $312M | $250M | $621M | · | $44M | |
| P/E | -5.2 | -4.5 | · | -1.4 | -1.5 | -2.4 | · | -3.2 | -5.2 | -3.6 | · | -5.9 | -4.4 | -9.7 | · | -5.2 | |
| P/S | 8.1 | 7.6 | · | 49.7 | 35.2 | 56.8 | · | 73.7 | 140.4 | 85.1 | · | 86.6 | 57.6 | 162.1 | · | · | |
| P/B | 13.4 | 6.0 | · | 3.2 | 351.1 | 9.7 | · | 4.2 | 6.6 | 3.3 | · | 3.9 | 2.8 | 6.2 | · | -7.3 | |
| P / Tangible Book | 13.4 | 6.0 | · | 3.2 | 351.1 | 9.7 | · | 4.2 | 6.6 | 3.3 | · | 3.9 | 2.8 | 6.2 | · | · | |
| P / Cash Flow | · | -11.2 | · | · | · | -9.9 | · | · | · | -14.4 | · | · | · | -43.2 | · | · | |
| Earnings Yield | -19.2% | -22.4% | · | -73.0% | -67.9% | -41.4% | · | -30.9% | -19.1% | -27.7% | · | -16.9% | -22.9% | -10.3% | · | -19.3% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $33M | $3M | $3M | $4M | · |
| Operating Margin % | -154.7% | -2437.5% | -1866.2% | · | · |
| Net Income | $-53M | $-61M | $-49M | $-34M | $-378.8K |
| Diluted EPS | $-1.11 | $-1.66 | $-1.48 | $-2.24 | $-0.02 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 6.4 | 4.3 | 8.0 | 0.2 | 10.9 |
| Quick Ratio | 6.4 | 4.1 | 7.8 | 0.1 | 10.6 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-49M | $-51M | $-46M | · | · |
Institutional owners (13F) 86 filers · $124.3M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
86
Value held
$124.3M
New positions
27
Exited positions
13
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 27 (+8 vs prior Q) | 13 (0 vs prior Q) | 22 (-2 vs prior Q) | 15 (+1 vs prior Q) | +4.0M |
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 |
|---|---|---|---|---|
| RTW INVESTMENTS, LP | $41,234,412 | 9,556,063 | 33.19% | Shares |
| PERCEPTIVE ADVISORS LLC | $21,738,564 | 5,037,906 | 17.50% | Shares |
| BlackRock, Inc. | $10,832,320 | 2,510,387 | 8.72% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $8,728,883 | 2,022,916 | 7.03% | Shares |
| VANGUARD GROUP INC | $6,658,907 | 1,604,556 | 5.36% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $4,350,317 | 1,007,908 | 3.50% | Shares |
| Alyeska Investment Group, L.P. | $4,315,000 | 1,000,000 | 3.47% | Shares |
| Propel Bio Management, LLC | $3,869,265 | 896,701 | 3.11% | Shares |
| STATE STREET CORP | $2,226,756 | 516,050 | 1.79% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $1,829,560 | 424,000 | 1.47% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,508,282 | 349,544 | 1.21% | Shares |
| NORTHERN TRUST CORP | $1,482,807 | 343,640 | 1.19% | Shares |
| UBS Group AG | $1,405,711 | 325,773 | 1.13% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,261,072 | 292,253 | 1.01% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,186,508 | 274,973 | 0.95% | Shares |
| Knott David M Jr | $1,094,504 | 253,651 | 0.88% | Shares |
| Flat Footed LLC | $1,084,670 | 251,372 | 0.87% | Shares |
| Simplify Asset Management Inc. | $946,655 | 219,387 | 0.76% | Shares |
| GOLDMAN SACHS GROUP INC | $775,000 | 179,606 | 0.62% | Shares |
| DAFNA Capital Management LLC | $547,319 | 126,841 | 0.44% | Shares |
| AMH Equity Ltd | $411,680 | 166,000 | 0.33% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $388,350 | 90,000 | 0.31% | Shares |
| IFP Advisors, Inc | $386,659 | 89,608 | 0.31% | Shares |
| Daytona Street Capital LLC | $379,336 | 96,398 | 0.31% | Shares |
| Bank of New York Mellon Corp | $371,534 | 86,103 | 0.30% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $347,789 | 80,600 | 0.28% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $283,944 | 65,804 | 0.23% | Shares |
| CITADEL ADVISORS LLC | $242,464 | 56,191 | 0.20% | Shares |
| Nuveen, LLC | $224,889 | 52,118 | 0.18% | Shares |
| Holos Integrated Wealth LLC | $204,316 | 51,595 | 0.16% | Shares |
| Cubist Systematic Strategies, LLC | $193,172 | 77,892 | 0.16% | Shares |
| NewEdge Advisors, LLC | $190,218 | 44,083 | 0.15% | Shares |
| Y-Intercept (Hong Kong) Ltd | $187,642 | 43,486 | 0.15% | Shares |
| DEUTSCHE BANK AG\ | $171,383 | 39,672 | 0.14% | Shares |
| XTX Topco Ltd | $167,482 | 38,814 | 0.13% | Shares |
| WELLS FARGO & COMPANY/MN | $156,876 | 36,356 | 0.13% | Shares |
| HighTower Advisors, LLC | $152,643 | 35,375 | 0.12% | Shares |
| LASRY MARC | $150,955 | 60,869 | 0.12% | Shares |
| Affinity Asset Advisors, LLC | $144,121 | 33,400 | 0.12% | Shares |
| RHUMBLINE ADVISERS | $137,813 | 31,940 | 0.11% | Shares |
| MORGAN STANLEY | $125,826 | 29,160 | 0.10% | Shares |
| ALGERT GLOBAL LLC | $122,917 | 28,486 | 0.10% | Shares |
| Meramec Financial Planners, LLC | $114,600 | 30,000 | 0.09% | Shares |
| TWO SIGMA ADVISERS, LP | $112,465 | 27,100 | 0.09% | Shares |
| AXQ CAPITAL, LP | $109,808 | 25,448 | 0.09% | Shares |
| Invesco Ltd. | $106,533 | 24,689 | 0.09% | Shares |
| MetLife Investment Management, LLC | $103,534 | 23,994 | 0.08% | Shares |
| BANK OF AMERICA CORP /DE/ | $102,792 | 23,822 | 0.08% | Shares |
| JPMORGAN CHASE & CO | $99,181 | 20,880 | 0.08% | Shares |
| TWO SIGMA INVESTMENTS, LP | $97,359 | 22,563 | 0.08% | Shares |
Activists & 5%+ owners 3 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 |
|---|---|---|---|---|---|
| RTW Investments, LP, RTW Master Fund, Ltd., RTW Innovation Master Fund, Ltd., Roderick Wong ×8 filings | April 29, 2026 | 19.20% | Amendment | · | SEC |
| HSAC 2 Holdings, LLC ×3 filings | Aug. 7, 2024 | · | Initial filing | · | SEC |
| Geoffrey W. Smith | Feb. 7, 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.
Company insiders 21 insiders · 11 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| David P Hochman | Chief Executive Officer and Chairperson | Sept. 10, 2026 F | 432,916 | 5 | 0 | $149,150 |
| Roderick Wong, M.D. | Chief Executive Officer | Jan. 24, 2023 P | 2,808,512 | 0 | 0 | $0 |
| Andrew Lawrence Taylor | Chief Financial Officer | Aug. 26, 2026 F | 589,989 | 0 | 0 | $0 |
| Michael Kaswan | Chief Financial Officer | Jan. 26, 2023 A | 162,574 | 0 | 0 | $0 |
| Darren Sherman | President and Chief Operating Officer | Oct. 1, 2026 S | 1,119,402 | 1 | 5 | $-342,290 |
| Joshua Aiello | Principal Accounting Officer | Aug. 26, 2026 F | 18,441 | 0 | 0 | $0 |
| William Reed Little | Executive Vice President, Corporate Development & Strategy | May 30, 2024 P | 307,859 | 0 | 0 | $0 |
| George Papandreou | General Manager and Senior Vice President, Focal Therapies | May 8, 2024 A | 42,000 | 0 | 0 | $0 |
| Yuval Mika | General Manager and Chief Technology Officer, Bioelectronic Therapies | May 8, 2024 A | 158,905 | 0 | 0 | $0 |
| Stephanie A Sirota | VP of Corp Stratege and Comm | Aug. 4, 2020 P | 20,000 | 0 | 0 | $0 |
| Alice Lee | VP Operations, Sec & Treasurer | Aug. 4, 2020 P | 10,000 | 0 | 0 | $0 |
| Connealy Pamela Yanchik | Director | June 23, 2026 A | 66,038 | 0 | 0 | $0 |
| Jason Aryeh | Director | June 23, 2026 A | 118,118 | 2 | 0 | $37,481 |
| Eric A Rose MD | Director | June 20, 2024 A | 7,544 | 0 | 0 | $0 |
| Geoffrey Wade Smith | Director | July 20, 2023 A | 20,913 | 0 | 0 | $0 |
| HSAC 2 Holdings, LLC | 10% owner | Aug. 5, 2024 J | 1,705,705 | 0 | 0 | $0 |
| Medtronic plc | 10% owner | Jan. 30, 2023 P | 4,999,423 | 0 | 0 | $0 |
| Chris Cleary | · | Aug. 12, 2026 F | 29,153 | 0 | 0 | $0 |
| John Prosper Mack | · | Aug. 12, 2026 F | 66,544 | 0 | 0 | $0 |
| David Pacitti | · | Aug. 12, 2026 F | 54,750 | 0 | 0 | $0 |
| Eric S Fain | · | Aug. 12, 2026 F | 99,630 | 1 | 0 | $82,600 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 10 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IWC · iShares Trust | 0.05% | 135,778 SH | Sept. 11, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.03% | 4,255 SH | Oct. 2, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 374,286 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 228,058 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 42,916 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 815,602 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 19,057 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 498,632 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,470,063 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,999 SH | Aug. 19, 2026 | Daily |
OBIO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 13 analysts
BUY
Median target
$11.00
+84.9%
3 23.1%
Strong Buy
8 61.5%
Buy
2 15.4%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
7 analysts · 2026-10-03Mean target $12.43 +108.9%
← Below all targets
Current price $5.95
Low$9.00
Mean$12.43
High$20.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| OBIO | $237M | -3.7 | 1169.2% | -157.4% | -195.7% | · |
| SGHT | $424M | -10.7 | -3.1% | -49.7% | -57.4% | 86.2% |
| NPCE | $518M | -23.4 | 25.1% | -21.5% | -111.6% | 77.2% |
| SI | $295M | -3.1 | 49.6% | -85.3% | -129.1% | 76.5% |
| CARL | $329M | -5.8 | 85.9% | -58.7% | -375.2% | 75.3% |
| OFIX | $604M | -6.5 | 2.9% | -11.2% | -20.3% | 68.8% |
| CLPT | $402M | -15.2 | 17.8% | -69.1% | -106.9% | 61.4% |
| CV | $501M | -10.4 | 15.3% | -186.8% | 40.3% | 52.9% |
| MOBI | · | · | · | · | · | · |
| ABT | $250.18B | 33.7 | 5.7% | 14.7% | 13.1% | · |
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Source: SEC 10-Q filed Aug 10, 2026