OTLK Outlook Therapeutics, Inc. - Common Stock
$0.69
Price · Aug 19, 2026
Fundamentals as of Aug 18, 2026
52W Range
$0–$3
16% of range
Analyst Rating
BUY
10 analysts
Price Target
$5
+684% upside
P/E (TTM)
-0.4
ROE
193.1%
Net Profit Margin
-4416.2%
OTLK Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.69
Market Cap
$37M
P/E (TTM)
-0.4
EPS (TTM)
$-1.79
Revenue (TTM)
$1M
Div Yield
—
ROE
193.1%
Debt/Equity
—
52W Range
$0 – $3
OTLK Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1M
2018-09-30
→
2025-09-30
EPS
$-1.79
2020-09-30
→
2025-09-30
Free Cash Flow
—
2019-09-30
→
2019-09-30
Margins
-4416.2%
2025-09-30
→
2025-09-30
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
OTLK
Peer Median
P/E (TTM)
-0.4
—
P/S (TTM)
26.2
28.5
P/B
-1.2
2.2
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
OTLK
Peer Median
Gross Margin
4.0%
51.3%
Operating Margin
-4744.2%
—
Net Profit Margin
-4416.2%
-1348.1%
ROA
-263.4%
-100.0%
ROE
193.1%
-154.7%
ROIC
203.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
OTLK
Peer Median
Current Ratio
0.4
2.9
Quick Ratio
0.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
OTLK
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
OTLK
Peer Median
OTLK Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 2 20.0%
- Buy 5 50.0%
- Hold 3 30.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
4 analysts · 2026-08-19
Median
$5.00
← Below all targets
$0.69
Low
$1.60
High
$10.00
Median target
$5.00
+626.3%
Mean target
$5.40
+684.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Sept. 30, 2026 | $-0.09 | $-0.10 | 0.01% |
| June 30, 2026 | $-0.09 | $-0.10 | 0.01% |
| March 31, 2026 | $-0.16 | $-0.12 | -0.04% |
| Dec. 31, 2025 | $-0.22 | $-0.18 | -0.04% |
| Sept. 30, 2025 | $-0.19 | $-0.26 | 0.07% |
| June 30, 2025 | $-0.55 | $-0.40 | -0.15% |
| March 31, 2025 | $-0.40 | $-0.61 | 0.21% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| OTLK | $57M | -0.6 | — | -4416.2% | 193.1% | 4.0% |
| HURA | — | -1.2 | — | — | — | — |
| SPRB | $120M | -1.7 | -51.3% | — | -139.9% | — |
| IMDX | $215M | -4.5 | 115.6% | -1238.5% | 330.8% | 56.7% |
| INDP | $6M | -0.1 | — | — | -2820.8% | — |
| CBUS | — | -0.6 | -14.6% | -3492.3% | -223.0% | — |
| VTVT | — | — | — | — | -70.4% | — |
| GNLX | $166M | -5.1 | 0.00% | -401812.5% | -181.4% | — |
| BDTX | $139M | 6.2 | — | 31.9% | 18.3% | — |
| ANIX | $136M | -12.1 | 0.00% | — | -62.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1M | · | · | · | · | · | $8M | $3M | |
| Cost of Revenue | $1M | · | · | · | · | · | · | · | |
| Gross Profit | $57.2K | · | · | · | · | · | · | · | |
| R&D Expense | $27M | $42M | $26M | $42M | $39M | $26M | $24M | $19M | |
| SG&A Expense | $40M | $30M | $27M | $21M | $13M | $10M | $9M | $14M | |
| Operating Expenses | · | · | · | · | $52M | $37M | $44M | $33M | |
| Operating Income | $-67M | $-72M | $-53M | $-63M | $-52M | $-37M | $-36M | $-30M | |
| Interest Expense | · | · | · | · | · | $2M | $3M | $4M | |
| Interest Income | $89.7K | $906.1K | $971.5K | · | · | · | · | · | |
| Pretax Income | $-64M | $-75M | $-59M | $-66M | $-53M | $-39M | $-38M | $-34M | |
| Income Tax | $-2M | $2.8K | $2.8K | $2.8K | $2.0K | $-3M | $-3M | $-4M | |
| Net Income | $-62M | $-75M | $-59M | $-66M | $-53M | $-35M | $-35M | $-30M | |
| EPS (Basic) | $-1.79 | $-4.06 | $-4.72 | $-0.31 | $-0.35 | $-0.67 | · | · | |
| EPS (Diluted) | $-1.79 | $-4.06 | $-4.72 | $-0.31 | $-0.35 | $-0.67 | · | · | |
| Shares (Basic) | 34,796,120 | 18,548,813 | 12,508,817 | 212,079,472 | 152,676,145 | 72,555,636 | · | · | |
| Shares (Diluted) | 34,796,120 | 18,548,813 | 12,508,817 | 212,079,472 | 152,676,145 | 72,555,636 | · | · | |
| EBITDA | $-67M | · | · | · | $-52M | · | $-33M | · |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $8M | $15M | $23M | $17M | $14M | $13M | $8M | $2M | |
| Receivables | $1M | · | · | · | · | · | · | · | |
| Inventory | $3M | · | · | · | · | · | · | · | |
| Prepaid Expense | $4M | $12M | $8M | $10M | $7M | $5M | $5M | $2M | |
| Current Assets | $17M | $27M | $31M | $28M | $22M | $18M | $14M | $3M | |
| PP&E (Net) | · | · | · | · | $163.6K | $327.2K | $3M | $18M | |
| PP&E (Gross) | · | · | · | $1M | $1M | $1M | $4M | $30M | |
| Accum. Depreciation | · | · | · | $1M | $903.7K | $740.1K | $1M | $12M | |
| Other Non-current Assets | $417.5K | $439.3K | $501.3K | $132.0K | $174.6K | $1M | $457.5K | $491.0K | |
| Total Assets | $19M | $29M | $32M | $29M | $23M | $20M | $17M | $22M | |
| Accounts Payable | $10M | $8M | $7M | $3M | $2M | $2M | $2M | $4M | |
| Accrued Liabilities | $5M | $3M | $3M | $3M | $2M | $8M | $5M | $6M | |
| Current Liabilities | $46M | $43M | $47M | $20M | $7M | $16M | $20M | $32M | |
| Capital Leases | $188.8K | $246.9K | · | · | $27.0K | · | $3M | $3M | |
| Other Non-current Liabilities | · | · | · | · | · | · | $4M | $4M | |
| Total Liabilities | $51M | $102M | $47M | $20M | $18M | $17M | $28M | $43M | |
| Long-term Debt | · | · | · | · | · | · | $1.08B | $165.0K | |
| Total Debt | · | · | · | · | · | · | $1M | · | |
| Common Stock | $538.9K | $239.1K | $130.1K | $2M | $2M | $1M | $286.1K | $90.3K | |
| Retained Earnings | $-606M | $-543M | $-468M | $-409M | $-343M | $-290M | $-254M | $-216M | |
| Stockholders' Equity | $-32M | $-73M | $-14M | $9M | $5M | $3M | $-16M | $-26M | |
| Liabilities + Equity | $19M | $29M | $32M | $29M | $23M | $20M | $17M | $22M | |
| Shares Outstanding | 53,887,233 | 23,905,635 | 13,012,833 | 227,310,572 | 176,461,628 | 127,183,109 | 28,609,995 | 9,027,491 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $117.1K | $113.9K | $44.2K | $204.7K | $262.1K | $219.4K | $3M | $3M | |
| Stock-based Comp | $9M | $5M | $6M | $8M | $5M | $3M | $1M | $2M | |
| Other Non-cash | · | · | · | · | · | · | $-2M | · | |
| Operating Cash Flow | $-52M | $-69M | $-43M | $-57M | $-54M | $-32M | $-32M | $-33M | |
| CapEx | · | · | · | · | · | · | $437.3K | $3M | |
| Investing Cash Flow | · | · | · | · | · | $-900.0K | $-437.3K | $-3M | |
| Stock Issued | $25M | $60M | $30M | $62M | $46M | $35M | $46M | $15M | |
| Net Stock Activity | $25M | · | · | · | $46M | · | $46M | · | |
| Financing Cash Flow | $45M | $60M | $49M | $60M | $56M | $37M | $39M | $34M | |
| Net Change in Cash | $-7M | $-8M | $6M | $3M | $2M | $5M | $6M | $-1M | |
| Free Cash Flow | · | · | · | · | · | · | $-33M | · | |
| Levered FCF | · | · | · | · | · | · | $-36M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 4.0% | · | · | · | · | · | · | · | |
| Operating Margin | -4744.2% | · | · | · | 5525.6% | · | -445.6% | · | |
| Net Margin | -4416.2% | · | · | · | 5679.1% | · | -423.8% | · | |
| Pretax Margin | -4526.0% | · | · | · | 5678.9% | · | -465.7% | · | |
| EBITDA Margin | -4744.2% | · | · | · | 5525.6% | · | -404.3% | · | |
| ROA | -263.4% | · | · | · | -249.9% | · | -175.2% | · | |
| ROE | 193.1% | · | · | · | -612.6% | · | 165.7% | · | |
| ROIC | 203.3% | · | · | · | -1122.7% | · | 219.5% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.4 | · | · | · | 3.2 | · | 0.7 | · | |
| Quick Ratio | 0.2 | · | · | · | 2.1 | · | 0.4 | · | |
| Debt / Equity | · | · | · | · | · | · | -0.1 | · | |
| LT Debt / Equity | · | · | · | · | · | · | -0.0 | · | |
| Interest Coverage | · | · | · | · | · | · | -10.5 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | · | · | -0.0 | · | 0.4 | · | |
| Inventory Turnover | 0.8 | · | · | · | · | · | · | · | |
| Receivables Turnover | 1.9 | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1M | · | · | · | · | · | $8M | $3M | |
| Net Income TTM | $-62M | $-75M | $-59M | $-66M | $-53M | $-35M | $-35M | $-30M | |
| Market Cap | $57M | · | · | · | $7.66B | · | $853M | · | |
| Enterprise Value | · | · | · | · | · | · | $846M | · | |
| P/E | -0.6 | -1.3 | -0.9 | -78.7 | -124.0 | -21.5 | · | · | |
| P/S | 40.4 | · | · | · | · | · | 104.7 | · | |
| P/B | -1.8 | · | · | · | 1662.2 | · | -52.9 | · | |
| P / Tangible Book | · | · | · | 634.8 | 1662.2 | 648.0 | · | · | |
| P / Cash Flow | -1.1 | · | · | · | -141.2 | · | -26.4 | · | |
| P / FCF | · | · | · | · | · | · | -26.1 | · | |
| EV / EBITDA | · | · | · | · | · | · | -25.7 | · | |
| EV / FCF | · | · | · | · | · | · | -25.8 | · | |
| EV / Revenue | · | · | · | · | · | · | 103.8 | · | |
| Earnings Yield | -168.9% | -76.0% | -106.8% | -1.3% | -0.81% | -4.7% | · | · |
Income Statement 17
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | $-91.8K | $2M | · | · | · | · | · | · | · | · | · | · | · | |
| Cost of Revenue | $17.0K | $149.3K | $29.6K | $916.5K | $439.8K | · | · | · | · | · | · | · | · | · | · | · | |
| Gross Profit | $-8.3K | $-21.9K | $-1M | $-1M | $1M | · | · | · | · | · | · | · | · | · | · | · | |
| R&D Expense | $3M | $5M | $4M | $6M | $7M | $4M | $10M | $13M | $11M | $14M | $5M | $5M | $11M | $544.9K | $10M | $9M | |
| SG&A Expense | $8M | $10M | $9M | $10M | $10M | $8M | $12M | $10M | $8M | $5M | $6M | $8M | $7M | $6M | $6M | $5M | |
| Operating Expenses | · | · | · | · | · | · | · | · | $20M | $19M | · | · | $18M | $7M | · | · | |
| Operating Income | $-11M | $-14M | $-13M | $-17M | $-16M | $-12M | $-22M | $-23M | $-20M | $-19M | $-10M | $-12M | $-18M | $-7M | $-16M | $-14M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | $303 | · | · | · | |
| Interest Income | · | · | · | · | · | · | · | $240.0K | $404.6K | · | · | $306.0K | $395.5K | · | · | · | |
| Pretax Income | $-20M | $-4M | · | $-15M | $-20M | $-46M | · | $6M | $44M | $-114M | · | $-13M | $-21M | $-7M | · | $-14M | |
| Income Tax | · | · | · | $-2M | $0 | $2.8K | · | $0 | $0 | $2.8K | · | $0 | $0 | $2.8K | · | $800 | |
| Net Income | $-20M | $-4M | $-23M | $-13M | $-20M | $-46M | $17M | $6M | $44M | $-114M | $-11M | $-13M | $-21M | $-7M | $-19M | $-14M | |
| EPS (Basic) | $-0.15 | $-0.05 | $-0.38 | $-0.46 | $-0.55 | $-1.50 | $0.72 | $2.90 | $1.91 | $-8.01 | $-0.86 | $-2.51 | $-1.61 | $-0.52 | $-0.08 | $-0.06 | |
| EPS (Diluted) | $-0.15 | $-0.05 | $-0.38 | $-0.46 | $-0.55 | $-1.50 | $0.72 | $5.70 | $-0.89 | $-8.01 | $-0.86 | $-2.51 | $-1.61 | $-0.52 | $-0.08 | $-0.06 | |
| Shares (Basic) | 136,743,333 | 81,835,900 | 60,205,035 | -57,268,815 | 36,956,582 | 30,874,396 | 24,233,957 | -31,961,378 | 23,227,069 | 14,270,289 | 13,012,833 | -240,579,125 | 12,844,079 | 12,833,330 | 227,410,533 | -415,644,175 | |
| Shares (Diluted) | 136,743,333 | 81,835,900 | 60,205,035 | -57,268,815 | 36,956,582 | 30,874,396 | 24,233,957 | -34,210,747 | 25,476,438 | 14,270,289 | 13,012,833 | -240,579,125 | 12,844,079 | 12,833,330 | 227,410,533 | -415,644,175 | |
| EBITDA | $-11M | $-14M | $-13M | · | $-16M | $-12M | $-22M | · | $-20M | $-19M | $-10M | · | $-18M | $-7M | $-16M | · |
Balance Sheet 17
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11M | $8M | $9M | $8M | $9M | $8M | $6M | $15M | $32M | $47M | $10M | $23M | $34M | $44M | $52M | $17M | |
| Receivables | $2M | $3M | $114.6K | $1M | $2M | · | · | · | · | · | · | · | · | · | · | · | |
| Inventory | $5M | $3M | $3M | $3M | $4M | $4M | $3M | · | · | · | · | · | · | · | · | · | |
| Prepaid Expense | $5M | $7M | $5M | $4M | $6M | $7M | $7M | $12M | $14M | $11M | $10M | $8M | $9M | $9M | $9M | $10M | |
| Current Assets | $23M | $21M | $17M | $17M | $21M | $18M | $16M | $27M | $46M | $58M | $20M | $31M | $43M | $53M | $62M | $28M | |
| Other Non-current Assets | $304.0K | $320.3K | $346.1K | $417.5K | $464.4K | $393.8K | $416.0K | $439.3K | $479.2K | $473.2K | $484.3K | $501.3K | $589.4K | $113.8K | $126.4K | $132.0K | |
| Total Assets | $26M | $22M | $18M | $19M | $22M | $19M | $17M | $29M | $47M | $59M | $22M | $32M | $44M | $54M | $63M | $29M | |
| Accounts Payable | $7M | $14M | $7M | $10M | $10M | $8M | $12M | $8M | $6M | $4M | $3M | $7M | $5M | $4M | $4M | $3M | |
| Accrued Liabilities | $3M | $9M | $5M | $5M | $5M | $3M | $3M | $3M | $3M | $3M | $4M | $3M | $8M | $6M | $9M | $3M | |
| Current Liabilities | $29M | $39M | $49M | $46M | $31M | $25M | $48M | $43M | $43M | $54M | $46M | $47M | $50M | $44M | $15M | $20M | |
| Capital Leases | $140.1K | $157.0K | $172.0K | $188.8K | $204.1K | $219.0K | $233.1K | $246.9K | $260.4K | · | · | · | · | · | · | · | |
| Total Liabilities | $37M | $51M | $57M | $51M | $60M | $52M | $67M | $102M | $131M | $193M | $46M | $47M | $50M | $44M | $47M | $20M | |
| Common Stock | $2M | $1M | $645.6K | $538.9K | $434.8K | $329.1K | $249.1K | $239.1K | $234.1K | $220.1K | $3M | $130.1K | $3M | $3M | $3M | $2M | |
| Retained Earnings | $-654M | $-633M | $-629M | $-606M | $-592M | $-572M | $-526M | $-543M | $-549M | $-593M | $-479M | $-468M | $-455M | $-434M | $-428M | $-409M | |
| Stockholders' Equity | $-10M | $-29M | $-39M | $-32M | $-37M | $-32M | $-50M | $-73M | $-84M | $-134M | $-24M | $-14M | $-6M | $10M | $16M | $9M | |
| Liabilities + Equity | $26M | $22M | $18M | $19M | $22M | $19M | $17M | $29M | $47M | $59M | $22M | $32M | $44M | $54M | $63M | $29M | |
| Shares Outstanding | 187,096,998 | 104,614,219 | 64,556,570 | 53,887,233 | 43,479,051 | 32,907,014 | 24,905,635 | 23,905,635 | 23,405,637 | 22,012,827 | 260,257,517 | 13,012,833 | 258,704,055 | 256,666,794 | 256,666,794 | 227,310,572 |
Cash Flow 7
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $13.8K | $30.4K | $30.1K | $29.7K | $29.4K | $29.1K | $28.8K | $28.8K | $28.7K | $28.2K | $28.2K | $11.2K | $11.2K | $11.0K | $10.8K | $51.5K | |
| Stock-based Comp | $791.7K | $757.5K | $881.1K | $2M | $2M | $2M | $4M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Operating Cash Flow | $-21M | $-8M | $-15M | $-12M | $-12M | $-17M | $-11M | $-17M | $-20M | $-19M | $-13M | $-13M | $-13M | $-8M | $-9M | $-10M | |
| Stock Issued | $25M | $7M | $15M | $8M | $14M | $1M | $2M | $-115.0K | $4M | · | · | $2M | $3M | $-339.3K | $25M | $2M | |
| Net Stock Activity | · | · | $15M | · | · | · | $2M | · | · | · | · | · | · | · | $25M | · | |
| Financing Cash Flow | $27M | $7M | $16M | $12M | $13M | $18M | $2M | $-115.0K | $4M | $56M | $-3.2K | $2M | $3M | $-597.1K | $44M | $2M | |
| Net Change in Cash | $3M | $-929.2K | $594.3K | $-817.7K | $1M | $2M | $-9M | $-17M | $-15M | $37M | $-13M | $-10M | $-10M | $-9M | $35M | $-9M |
Profitability 8
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -118071.4% | -729600.0% | · | · | 70.8% | · | · | · | · | · | · | · | · | · | · | · | |
| Operating Margin | -154431557.1% | -467566233.3% | · | · | -1046.2% | 66974.0% | -44203.0% | · | · | 614.1% | -5471.3% | · | -4590.0% | -3641.2% | 640.7% | · | |
| Net Margin | -290275314.3% | -148436033.3% | · | · | -1338.8% | 250552.4% | 35550.9% | · | · | 3705.8% | -5924.5% | · | -5231.1% | -3543.4% | 762.2% | · | |
| Pretax Margin | -290275314.3% | -148436033.3% | · | · | -1338.8% | 250537.3% | · | · | · | 3705.7% | · | · | -5231.1% | -3541.9% | · | · | |
| EBITDA Margin | -154431557.1% | -467566233.3% | · | · | -1046.2% | 66974.0% | -44203.0% | · | · | 614.1% | -5471.3% | · | -4590.0% | -3641.2% | 640.7% | · | |
| ROA | -83.7% | -21.7% | -130.8% | · | -58.0% | -118.7% | 89.8% | · | 97.0% | -202.2% | -26.5% | · | -49.8% | -10.9% | -26.4% | · | |
| ROE | 85.4% | 14.5% | 51.9% | · | 33.4% | 55.6% | -46.6% | · | -99.6% | 184.7% | 260.4% | · | -283.6% | -28.6% | -57.8% | · | |
| ROIC | · | · | · | · | · | 38.2% | · | · | · | 14.1% | · | · | · | -65.2% | · | · |
Liquidity & Solvency 2
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.5 | 0.3 | · | 0.7 | 0.7 | 0.3 | · | 1.1 | 1.1 | 0.4 | · | 0.9 | 1.2 | 4.1 | · | |
| Quick Ratio | 0.4 | 0.3 | 0.2 | · | 0.3 | 0.3 | 0.1 | · | 0.8 | 0.9 | 0.2 | · | 0.7 | 1.0 | 3.5 | · |
Efficiency 3
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | · | 0.0 | -0.0 | 0.0 | · | · | -0.1 | 0.0 | · | 0.0 | 0.0 | -0.0 | · | |
| Inventory Turnover | 0.0 | 0.0 | 0.0 | · | 0.2 | · | · | · | · | · | · | · | · | · | · | · | |
| Receivables Turnover | 0.0 | 0.0 | 0.0 | · | 1.7 | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 7
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-68M | $-94M | $-72M | · | $-5M | $-99M | $-64M | · | $-102M | $-153M | $-57M | · | $-64M | $-63M | $-70M | · | |
| Market Cap | $297M | $22M | $102M | · | $70M | $40M | $47M | · | $173M | $263M | $2.05B | · | $9.00B | $5.60B | $5.54B | · | |
| P/E | -1.4 | -0.1 | -0.9 | · | -0.7 | -0.1 | -0.2 | · | -0.6 | -1.1 | -2.6 | · | -15.2 | -28.3 | -65.5 | · | |
| P/B | -28.6 | -0.7 | -2.6 | · | -1.9 | -1.2 | -0.9 | · | -2.1 | -2.0 | -84.2 | · | -1636.0 | 533.5 | 351.8 | · | |
| P / Tangible Book | · | · | · | · | · | · | · | · | · | · | · | · | · | 533.5 | 351.8 | · | |
| P / Cash Flow | · | · | -6.8 | · | · | · | -4.3 | · | · | · | -157.4 | · | · | · | -622.8 | · | |
| Earnings Yield | -71.1% | -1203.9% | -108.2% | · | -138.8% | -793.4% | -478.3% | · | -154.1% | -92.1% | -39.0% | · | -6.6% | -3.5% | -1.5% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Revenue | $1M | — | — | — | — |
| Gross Margin % | 4.0% | — | — | — | — |
| Operating Margin % | -4744.2% | — | — | — | 5525.6% |
| Net Income | $-62M | $-75M | $-59M | $-66M | $-53M |
| Diluted EPS | $-1.79 | $-4.06 | $-4.72 | $-0.31 | $-0.35 |
Balance Sheet
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Current Ratio | 0.4 | — | — | — | 3.2 |
| Quick Ratio | 0.2 | — | — | — | 2.1 |
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Institutional owners (13F) 80 filers · $25.5M 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 |
|---|---|---|---|---|
| 33 (+19 vs prior Q) | 12 (-4 vs prior Q) | 21 (+5 vs prior Q) | 9 (0 vs prior Q) | +8.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $6,959,226 | 4,376,872 | 27.31% | Shares |
| PERCEPTIVE ADVISORS LLC | $4,991,353 | 3,139,216 | 19.59% | Shares |
| JANE STREET GROUP, LLC | $2,266,179 | 1,425,270 | 8.89% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,586,044 | 997,436 | 6.22% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,052,046 | 661,664 | 4.13% | Shares |
| GILPIN WEALTH MANAGEMENT, LLC | $882,450 | 555,000 | 3.46% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $862,098 | 542,200 | 3.38% | Call option |
| STATE STREET CORP | $858,285 | 539,802 | 3.37% | Shares |
| Sanctuary Advisors, LLC | $547,801 | 344,529 | 2.15% | Shares |
| MARSHALL WACE, LLP | $486,064 | 305,701 | 1.91% | Shares |
| GROUP ONE TRADING LLC | $391,821 | 246,428 | 1.54% | Shares |
| NORTHERN TRUST CORP | $377,722 | 237,561 | 1.48% | Shares |
| CITADEL ADVISORS LLC | $360,294 | 226,600 | 1.41% | Put option |
| CANTOR FITZGERALD, L. P. | $357,750 | 225,000 | 1.40% | Shares |
| SIMPLEX TRADING, LLC | $325,970 | 205,013 | 1.28% | Shares |
| LPL Financial LLC | $294,058 | 184,942 | 1.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $284,928 | 179,200 | 1.12% | Put option |
| VANGUARD GROUP INC | $278,916 | 176,529 | 1.09% | Shares |
| JANE STREET GROUP, LLC | $277,137 | 174,300 | 1.09% | Call option |
| CITADEL ADVISORS LLC | $265,689 | 167,100 | 1.04% | Call option |
| Wealth Management Partners, LLC | $187,890 | 118,170 | 0.74% | Shares |
| UBS Group AG | $177,597 | 111,696 | 0.70% | Shares |
| GILPIN WEALTH MANAGEMENT, LLC | $159,000 | 100,000 | 0.62% | Call option |
| Jefferies Financial Group Inc. | $99,375 | 62,500 | 0.39% | Shares |
| MILLENNIUM MANAGEMENT LLC | $91,964 | 57,839 | 0.36% | Shares |
| JANE STREET GROUP, LLC | $91,902 | 57,800 | 0.36% | Put option |
| Tower Research Capital LLC (TRC) | $91,252 | 57,391 | 0.36% | Shares |
| Royal Fund Management, LLC | $75,048 | 47,200 | 0.29% | Shares |
| SCOTIA CAPITAL INC. | $73,617 | 46,300 | 0.29% | Shares |
| Vanguard Global Advisers, LLC | $65,408 | 41,137 | 0.26% | Shares |
| Belvedere Trading LLC | $65,029 | 40,899 | 0.26% | Shares |
| Corient Private Wealth LP | $55,809 | 35,100 | 0.22% | Shares |
| Steward Partners Investment Advisory, LLC | $46,905 | 29,500 | 0.18% | Shares |
| Christensen, King & Associates Investment Services, Inc. | $45,040 | 28,327 | 0.18% | Shares |
| PNC Financial Services Group, Inc. | $39,750 | 25,000 | 0.16% | Shares |
| Vanguard Personalized Indexing Management, LLC | $38,349 | 24,119 | 0.15% | Shares |
| Flower City Capital | $31,800 | 20,000 | 0.12% | Shares |
| Bank of New York Mellon Corp | $29,673 | 18,662 | 0.12% | Shares |
| Signet Private Wealth LLC | $27,912 | 17,555 | 0.11% | Shares |
| NewEdge Advisors, LLC | $26,588 | 16,722 | 0.10% | Shares |
| TWO SIGMA SECURITIES, LLC | $23,619 | 14,855 | 0.09% | Shares |
| OPPENHEIMER & CO INC | $22,260 | 14,000 | 0.09% | Shares |
| BlackRock, Inc. | $20,805 | 13,085 | 0.08% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $19,679 | 12,377 | 0.08% | Shares |
| HARBOUR INVESTMENTS, INC. | $19,563 | 12,304 | 0.08% | Shares |
| OSAIC HOLDINGS, INC. | $18,228 | 11,466 | 0.07% | Shares |
| Simplicity Wealth,LLC | $17,983 | 11,310 | 0.07% | Shares |
| Fifth Third Wealth Advisors LLC | $15,900 | 10,000 | 0.06% | Shares |
| JPMORGAN CHASE & CO | $13,444 | 7,955 | 0.05% | Shares |
| Caitong International Asset Management Co., Ltd | $11,645 | 7,324 | 0.05% | Shares |
| RAYMOND JAMES FINANCIAL INC | $10,933 | 6,876 | 0.04% | Shares |
| Rockefeller Capital Management L.P. | $9,938 | 6,250 | 0.04% | Shares |
| Belvedere Trading LLC | $7,950 | 5,000 | 0.03% | Call option |
| MORGAN STANLEY | $6,535 | 4,110 | 0.03% | Shares |
| Point72 Asia (Singapore) Pte. Ltd. | $6,164 | 5,815 | 0.02% | Shares |
| Cubist Systematic Strategies, LLC | $5,613 | 5,295 | 0.02% | Shares |
| GoalVest Advisory LLC | $4,770 | 3,000 | 0.02% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $4,275 | 2,500 | 0.02% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $3,379 | 2,125 | 0.01% | Shares |
| Global Retirement Partners, LLC | $2,385 | 1,500 | 0.01% | Shares |
| Fortitude Family Office, LLC | $2,272 | 1,429 | 0.01% | Shares |
| WELLS FARGO & COMPANY/MN | $2,240 | 1,409 | 0.01% | Shares |
| Integrated Wealth Concepts LLC | $1,590 | 1,000 | 0.01% | Shares |
| HRT FINANCIAL LP | $1,247 | 784,904 | 0.00% | Shares |
| CITIGROUP INC | $1,216 | 765 | 0.00% | Shares |
| DEUTSCHE BANK AG\ | $1,113 | 700 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $1,107 | 696 | 0.00% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $485 | 305 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $353 | 222 | 0.00% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $318 | 200 | 0.00% | Shares |
| ARMSTRONG ADVISORY GROUP, INC | $285 | 179 | 0.00% | Shares |
| Quarry LP | $280 | 176 | 0.00% | Shares |
| Larson Financial Group LLC | $159 | 100 | 0.00% | Shares |
| Prestige Wealth Management Group LLC | $99 | 62 | 0.00% | Shares |
| CWM, LLC | $58 | 283 | 0.00% | Shares |
| Federation des caisses Desjardins du Quebec | $40 | 25 | 0.00% | Shares |
| SG Americas Securities, LLC | $27 | 17,271 | 0.00% | Shares |
| Bogart Wealth, LLC | $8 | 5 | 0.00% | Shares |
| FMR LLC | $2 | 1 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $0 | 156 | 0.00% | Shares |
Company insiders 30 insiders · 8 officers · 19 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Russell C Trenary III | CEO and President | April 17, 2023 A | 54,925 | 0 | 0 | $0 |
| Terry Dagnon | Chief Operations Officer | April 20, 2023 S | 653,058 | 0 | 0 | $0 |
| Jeff Evanson | Chief Commercial Officer | April 17, 2023 A | 745,975 | 0 | 0 | $0 |
| Kenneth Bahrt | Chief Medical Officer | Feb. 19, 2019 A | 47,120 | 0 | 0 | $0 |
| Stephen J Mcandrew | SVP Bus. Strat. & Dev. | Oct. 22, 2018 A | 50,899 | 0 | 0 | $0 |
| Elizabeth A. Yamashita | VP, Regulatory Affairs | Dec. 22, 2017 S | 64,648 | 0 | 0 | $0 |
| Kogan Bao | VP, Analytical Sciences | Dec. 21, 2016 A | 71,739 | 0 | 0 | $0 |
| Scott A. Gangloff | SVP, Development & Mfrg | Dec. 21, 2016 A | 118,573 | 0 | 0 | $0 |
| Faisal Ghiath Sukhtian | Director | July 29, 2026 P | 220,972 | 1 | 0 | $100,168 |
| Yezan Munther Haddadin | Director | June 2, 2026 P | 66,167 | 1 | 0 | $24,070 |
| Andong Huang | Director | Oct. 4, 2023 A | — | 0 | 0 | $0 |
| Julia A Haller | Director | Oct. 4, 2023 A | — | 0 | 0 | $0 |
| Gerd Auffarth | Director | Oct. 4, 2023 A | — | 0 | 0 | $0 |
| Julian S Gangolli | Director | Oct. 4, 2023 A | — | 0 | 0 | $0 |
| Kurt J Hilzinger | Director | Oct. 4, 2023 A | 473,117 | 0 | 0 | $0 |
| Randy H Thurman | Director | March 29, 2023 A | 11,875 | 0 | 0 | $0 |
| Arun Kumar Pillai | Director | Feb. 1, 2022 J | 22,982,529 | 0 | 0 | $0 |
| Joe Thomas | Director | Oct. 3, 2019 A | — | 0 | 0 | $0 |
| Pankaj Mohan | Director | Jan. 15, 2019 P | 7,064,553 | 0 | 0 | $0 |
| Joerg Windisch | Director | Nov. 9, 2018 A | — | 0 | 0 | $0 |
| Claudio Albrecht | Director | Oct. 31, 2017 A | — | 0 | 0 | $0 |
| Albert D. Dyrness | Director | Oct. 26, 2017 A | — | 0 | 0 | $0 |
| Todd C Brady | Director | Oct. 26, 2017 A | 153,288 | 0 | 0 | $0 |
| Scott A Canute | Director | Oct. 26, 2017 A | 246,342 | 0 | 0 | $0 |
| Hoke Robin Smith | Director | Nov. 28, 2016 J | 1,939 | 0 | 0 | $0 |
| Donald J. Griffith | Director | Nov. 23, 2016 S | 144,926 | 0 | 0 | $0 |
| GMS Tenshi Holdings Pte. Ltd | 10% owner | April 21, 2022 J | 22,982,529 | 0 | 0 | $0 |
| Syntone Ventures LLC | 10% owner | Feb. 3, 2021 P | 19,823,045 | 0 | 0 | $0 |
| Robert Charles Jahr | — | Aug. 14, 2026 P | 151,515 | 0 | 0 | $0 |
| Lawrence A Kenyon | — | Aug. 14, 2026 P | 106,956 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 6 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| GMS Ventures & Investments, SUKHTIAN GHIATH M. ×5 filings | Aug. 14, 2026 | 16.40% | Amendment | — | SEC |
| Syntone Ventures LLC, Syntone LLC, Syntone Technologies Group Co., Ltd. ×3 filings | April 17, 2024 | — | Initial filing | — | SEC |
| GMS Ventures and Investments, Ghiath M. Sukhtian ×3 filings | March 20, 2024 | — | Initial filing | — | SEC |
| Tenshi Healthcare Pte. Ltd., Arun Kumar Pillai ×3 filings | Jan. 31, 2024 | — | Initial filing | — | SEC |
| BioLexis Pte. Ltd., Arun Kumar Pillai, Ghiath M. Sukhtian, GMS Ventures and Investments ×13 filings | April 22, 2022 | — | Initial filing | — | SEC |
| GMS Tenshi Holdings Pte. Limited, Ghiath M. Sukhtian, Arun Kumar Pillai ×4 filings | July 20, 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 2 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.