QURE uniQure N.V. - Ordinary Shares
$47.19
Price · Aug 19, 2026
Fundamentals as of Jul 29, 2026
52W Range
$9–$72
61% of range
Analyst Rating
BUY
20 analysts
Price Target
$70
+48% upside
P/E (TTM)
-13.8
ROE
-204.2%
Net Profit Margin
-1236.0%
QURE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$47.19
Market Cap
$2.97B
P/E (TTM)
-13.8
EPS (TTM)
$-3.46
Revenue (TTM)
$16M
Div Yield
—
ROE
-204.2%
Debt/Equity
0.2
52W Range
$9 – $72
QURE 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
$16M
2016-12-31
→
2025-12-31
EPS
$-3.46
2019-12-31
→
2025-12-31
Free Cash Flow
$-178M
2016-12-31
→
2025-12-31
Margins
-1236.0%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
QURE
Peer Median
P/E (TTM)
-13.8
—
P/S (TTM)
184.8
92.4
P/B
15.0
5.8
EV / EBITDA
-15.9
—
Price / FCF
-16.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
QURE
Peer Median
Operating Margin
-1151.4%
—
Net Profit Margin
-1236.0%
-905.7%
ROA
-28.8%
-27.1%
ROE
-204.2%
-58.4%
ROIC
-76.7%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
QURE
Peer Median
Debt / Equity
0.2
28.9
Current Ratio
10.4
7.9
Quick Ratio
1.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
QURE
Peer Median
Revenue YoY
-40.6%
—
Revenue CAGR 3Y
-46.7%
—
Revenue CAGR 5Y
-15.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
QURE
Peer Median
QURE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
20 analysts
- Strong Buy 7 35.0%
- Buy 11 55.0%
- Hold 2 10.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-15
Median
$69.15
Now
$47.19
Low
$46.78
High
$96.61
Median target
$69.15
+46.5%
Mean target
$69.78
+47.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-1.22 | $-0.84 | -0.38% |
| March 31, 2026 | $-0.85 | $-0.89 | 0.04% |
| Dec. 31, 2025 | $-0.64 | $-0.97 | 0.33% |
| Sept. 30, 2025 | $-1.38 | $-0.92 | -0.46% |
| June 30, 2025 | $-0.69 | $-0.91 | 0.22% |
| March 31, 2025 | $-0.82 | $-1.03 | 0.21% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| QURE | $1.49B | -6.9 | -40.6% | -1236.0% | -204.2% | — |
| NAMS | — | — | — | — | — | — |
| PRQR | — | — | — | — | — | — |
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 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16M | $27M | $16M | $106M | $524M | $38M | $7M | $11M | $13M | $25M | $11M | |
| Cost of Revenue | $2M | $1M | $65.0K | $1M | $25M | $3M | $2M | $1M | $817.0K | $1M | · | |
| R&D Expense | $141M | $144M | $215M | $198M | $144M | $122M | $95M | $75M | $72M | $73M | $59M | |
| SG&A Expense | $65M | $53M | $75M | $55M | $56M | $43M | $34M | $25M | $25M | $26M | $23M | |
| Operating Expenses | $208M | $215M | $303M | $256M | $225M | $165M | $128M | $100M | $97M | $99M | $83M | |
| Operating Income | $-185M | $-184M | $-283M | $-143M | $311M | $-125M | $-121M | $-88M | $-71M | $-72M | $-71M | |
| Interest Expense | · | · | $42M | $12M | $7M | $4M | $4M | $2M | $2M | $2M | $3M | |
| Interest Income | $17M | $21M | $20M | $609.0K | $162.0K | $938.0K | $4M | $3M | $117.0K | $70.0K | $121.0K | |
| Other Non-op | $11M | · | · | $3M | $-160.0K | $483.0K | $-3M | $208.0K | $-2M | $785.0K | $-7M | |
| Pretax Income | $-193M | $-237M | $-307M | $-128M | $333M | $-141M | $-124M | $-83M | $-79M | $-72M | $-83M | |
| Income Tax | $6M | $2M | $2M | $-1M | $3M | $-16M | · | $231.0K | $-199.0K | $1M | $-1M | |
| Net Income | $-199M | $-240M | $-308M | $-127M | $330M | $-125M | $-124M | $-83M | $-79M | $-73M | $-82M | |
| EPS (Basic) | $-3.46 | $-4.92 | $-6.47 | $-2.71 | $7.17 | $-2.81 | $-3.11 | · | · | · | · | |
| EPS (Diluted) | $-3.46 | $-4.92 | $-6.47 | $-2.71 | $7.04 | $-2.81 | $-3.11 | · | · | · | · | |
| Shares (Basic) | 57,502,068 | 48,649,129 | 47,670,986 | 46,735,045 | 45,986,467 | 44,466,365 | 39,999,450 | · | · | · | · | |
| Shares (Diluted) | 57,502,068 | 48,649,129 | 47,670,986 | 46,735,045 | 46,840,972 | 44,466,365 | 39,999,450 | · | · | · | · | |
| EBITDA | $-185M | $-184M | $-283M | $-143M | $311M | $-125M | $-121M | · | $-71M | $-72M | · |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $80M | $159M | $241M | $228M | $556M | $245M | $378M | $235M | $159M | $132M | $222M | |
| Receivables | $6M | · | · | · | · | $7M | · | · | · | $4M | · | |
| Inventory | · | · | $12M | $7M | · | · | · | · | · | · | $474.0K | |
| Prepaid Expense | $21M | $9M | $15M | $12M | $11M | $4M | $5M | $1M | $1M | $996.0K | $690.0K | |
| Other Current Assets | · | · | · | · | · | $3M | $748.0K | $329.0K | $687.0K | $1M | $1M | |
| Current Assets | $656M | $390M | $652M | $477M | $628M | $259M | $384M | $237M | $163M | $144M | $228M | |
| PP&E (Net) | $14M | $20M | $47M | $51M | $44M | $32M | $29M | $29M | $34M | $36M | $26M | |
| PP&E (Gross) | $58M | $52M | $102M | $95M | $80M | $68M | $57M | $52M | $51M | $48M | $37M | |
| Accum. Depreciation | $44M | $32M | $56M | $44M | $37M | $35M | $29M | $23M | $17M | $12M | $11M | |
| Goodwill | $25M | $22M | $26M | $26M | $28M | $542.0K | $496.0K | $506.0K | $530.0K | $465.0K | $481.0K | |
| Intangibles | $73M | $71M | $60M | $59M | $63M | $3M | $5M | $5M | $10M | $8M | $7M | |
| Other Non-current Assets | $6M | $1M | $3M | $6M | $6M | $3M | · | · | $2M | $2M | $1M | |
| Total Assets | $825M | $557M | $832M | $705M | $809M | $340M | $449M | $274M | $210M | $190M | $263M | |
| Accounts Payable | $5M | $7M | $7M | $11M | $3M | $4M | $6M | $4M | $3M | $6M | $4M | |
| Accrued Liabilities | $41M | $29M | $31M | $31M | $28M | $18M | $12M | $8M | · | · | · | |
| Current Liabilities | $63M | $40M | $74M | $76M | $37M | $27M | $32M | $20M | $19M | $23M | $27M | |
| Capital Leases | $10M | $11M | $28M | $32M | $29M | $30M | $31M | · | · | · | · | |
| Deferred Tax | $8M | $7M | $8M | $8M | $13M | · | · | · | · | · | · | |
| Other Non-current Liabilities | $4M | $8M | $4M | $935.0K | $4M | $3M | $534.0K | $435.0K | $614.0K | $51.0K | $578.0K | |
| Total Liabilities | $626M | $563M | $624M | $229M | $213M | $96M | $126M | $94M | $120M | $127M | $135M | |
| Long-term Debt | $72M | $66M | $148M | $144M | $136M | $42M | $47M | $48M | $24M | $20M | $20M | |
| Total Debt | $50M | $51M | $102M | $103M | $101M | $36M | $36M | · | $21M | $20M | · | |
| Common Stock | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | |
| Paid-in Capital | $1.58B | $1.17B | $1.15B | $1.11B | $1.08B | $1.02B | $987M | $720M | $567M | $465M | $456M | |
| Retained Earnings | $-1.33B | $-1.13B | $-890M | $-582M | $-455M | $-785M | $-660M | $-536M | $-475M | $-396M | $-323M | |
| AOCI | $-58M | $-53M | $-54M | $-58M | $-29M | $-10M | $-7M | $-7M | $-4M | $-7M | $-7M | |
| Stockholders' Equity | $199M | $-7M | $208M | $476M | $596M | $244M | $323M | $180M | $89M | $64M | $128M | |
| Liabilities + Equity | $825M | $557M | $832M | $705M | $809M | $340M | $449M | $274M | $210M | $190M | $263M | |
| Shares Outstanding | 62,336,717 | 48,988,087 | 47,833,830 | 46,968,032 | 46,298,635 | 44,777,799 | 43,711,954 | 37,351,653 | 31,339,040 | 25,257,420 | 24,327,944 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $15M | $13M | $12M | $9M | $7M | $11M | $7M | $12M | $8M | · | · | |
| Stock-based Comp | $18M | $22M | $35M | $34M | $26M | $22M | $18M | $11M | $10M | $6M | $12M | |
| Deferred Tax | $2M | $2M | $2M | $-1M | $3M | $-16M | · | $209.0K | $-209.0K | $1M | $-1M | |
| Restructuring | · | · | $3M | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-178M | $-183M | $-146M | $-145M | $288M | $-135M | $-99M | $-76M | $-64M | $-72M | $7M | |
| CapEx | $439.0K | $3M | $7M | $18M | $17M | $7M | $6M | $2M | $4M | $15M | $8M | |
| Investing Cash Flow | $-322M | $163M | $-206M | $-183M | $-67M | $-9M | $-7M | $-4M | $-6M | $-17M | $-8M | |
| Debt Issued | · | · | · | · | $64M | · | · | $15M | · | · | · | |
| Net Debt Issued | · | $-53M | · | · | $64M | · | · | · | · | · | · | |
| Stock Issued | · | · | · | · | $31M | $7M | $6M | $5M | $4M | $3M | $3M | |
| Net Stock Activity | · | · | · | · | $3M | $7M | $6M | · | $4M | $3M | · | |
| Financing Cash Flow | $415M | $-59M | $363M | $1M | $95M | $7M | $249M | $158M | $90M | $2M | $161M | |
| Net Change in Cash | $-79M | $-84M | $13M | $-328M | $312M | $-133M | $143M | $75M | $28M | $-89M | $157M | |
| Taxes Paid | $8M | $21.0K | $12.0K | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $-178M | $-186M | $-153M | $-163M | $271M | $-142M | $-104M | · | $-69M | $-87M | · | |
| Levered FCF | · | · | $-195M | $-174M | $263M | $-145M | · | · | $-71M | $-90M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -1151.4% | -679.6% | -1785.5% | -134.4% | 59.3% | -334.3% | -1663.8% | · | -544.3% | -286.7% | · | |
| Net Margin | -1236.0% | -883.4% | -1947.1% | -119.1% | 62.9% | -333.3% | -1705.8% | · | -604.7% | · | · | |
| Pretax Margin | -1201.0% | -874.4% | -1935.0% | -120.4% | 63.5% | -377.0% | -1705.8% | · | -606.2% | -287.8% | · | |
| EBITDA Margin | -1151.4% | -679.6% | -1785.5% | -134.4% | 59.3% | -334.3% | -1663.8% | · | -544.3% | -286.7% | · | |
| ROA | -28.8% | -34.5% | -40.2% | -16.8% | 57.3% | -31.7% | -34.4% | · | -39.6% | · | · | |
| ROE | -204.2% | -976.4% | -129.5% | -28.3% | 55.6% | -53.0% | -36.9% | · | -103.6% | · | · | |
| ROIC | -76.7% | -417.7% | -92.0% | -24.4% | 44.1% | -39.7% | · | · | -64.6% | -87.2% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.4 | 9.7 | 8.8 | 6.3 | 17.1 | 9.5 | 12.1 | · | 8.5 | 6.3 | · | |
| Quick Ratio | 1.3 | 4.0 | 3.3 | 3.0 | 15.1 | 9.2 | 11.9 | · | 8.3 | 6.0 | · | |
| Debt / Equity | 0.2 | -7.6 | 0.5 | 0.2 | 0.2 | 0.1 | 0.1 | · | 0.2 | 0.3 | · | |
| LT Debt / Equity | 0.2 | -7.6 | 0.5 | 0.2 | 0.2 | 0.1 | 0.1 | · | 0.2 | 0.3 | · | |
| Interest Coverage | · | · | -6.8 | -12.2 | 41.6 | -32.8 | -31.8 | · | -32.0 | -33.1 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.1 | 0.9 | 0.1 | 0.0 | · | 0.1 | 0.1 | · | |
| Inventory Turnover | · | · | 0.0 | 0.3 | · | · | · | · | · | · | · | |
| Receivables Turnover | · | · | · | · | · | 7.3 | · | · | · | 13.6 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -40.6% | 71.2% | -85.1% | -79.7% | 1296.8% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -46.7% | -62.7% | -25.0% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -15.6% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $16M | $27M | $16M | $106M | $524M | $38M | $7M | $11M | $13M | $25M | · | |
| Net Income TTM | $-199M | $-240M | $-308M | $-127M | $330M | $-125M | $-124M | $-83M | $-79M | $-73M | · | |
| Market Cap | $1.49B | $865M | $324M | $1.06B | $960M | $1.62B | $3.13B | · | $614M | $141M | · | |
| Enterprise Value | $1.46B | $758M | $184M | $940M | $505M | $1.41B | $2.79B | · | $475M | $29M | · | |
| P/E | -6.9 | -3.6 | -1.0 | -8.4 | 2.9 | -12.9 | -23.0 | · | · | · | · | |
| P/S | 92.7 | 31.9 | 20.4 | 10.0 | 1.8 | 43.1 | 430.2 | · | 46.8 | 5.6 | · | |
| P/B | 7.5 | -128.1 | 1.6 | 2.2 | 1.6 | 6.6 | 9.7 | · | 6.9 | 2.2 | · | |
| P / Tangible Book | 14.8 | · | 2.7 | 2.7 | 1.9 | 6.7 | · | · | · | · | · | |
| P / Cash Flow | -8.4 | -4.7 | -2.2 | -7.3 | 3.3 | -12.0 | -31.7 | · | -9.6 | -2.0 | · | |
| P / FCF | -8.4 | -4.6 | -2.1 | -6.5 | 3.5 | -11.4 | -30.0 | · | -8.9 | -1.6 | · | |
| EV / EBITDA | -7.9 | -4.1 | -0.7 | -6.6 | 1.6 | -11.2 | -23.0 | · | -6.7 | -0.4 | · | |
| EV / FCF | -8.2 | -4.1 | -1.2 | -5.8 | 1.9 | -9.9 | -26.7 | · | -6.9 | -0.3 | · | |
| EV / Revenue | 90.8 | 27.9 | 11.6 | 8.8 | 1.0 | 37.5 | 383.3 | · | 36.3 | 1.2 | · | |
| Earnings Yield | -14.5% | -27.9% | -95.6% | -11.9% | 33.9% | -7.8% | -4.3% | · | · | · | · |
Income Statement 17
| 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 | $6M | $4M | $6M | $4M | $5M | $2M | $5M | $2M | $11M | $8M | $7M | $1M | $2M | $5M | $103M | $1M | |
| Cost of Revenue | $350.0K | $219.0K | $435.0K | $398.0K | $656.0K | $197.0K | $619.0K | $264.0K | $234.0K | $150.0K | · | · | · | · | · | · | |
| R&D Expense | $34M | $29M | $35M | $34M | $35M | $36M | $39M | $31M | $34M | $41M | $43M | $65M | $46M | $61M | $58M | $48M | |
| SG&A Expense | $17M | $20M | $22M | $19M | $14M | $11M | $11M | $12M | $16M | $14M | $17M | $18M | $21M | $18M | $18M | $13M | |
| Operating Expenses | $52M | $49M | $57M | $54M | $50M | $47M | $51M | $43M | $57M | $64M | $69M | $84M | $69M | $81M | $78M | $62M | |
| Operating Income | $-52M | $-46M | $-51M | $-51M | $-44M | $-39M | $-46M | $-40M | $-44M | $-54M | $-62M | $-82M | $-65M | $-74M | $26M | $-60M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $16M | · | $15M | $7M | $4M | · | $3M | |
| Interest Income | $5M | $5M | $6M | $4M | $4M | $4M | $4M | $5M | $6M | $7M | $7M | $7M | $3M | $2M | $493.0K | $39.0K | |
| Other Non-op | $-16M | $4M | $18M | $-7M | · | · | · | · | · | · | · | · | · | · | $2M | $0 | |
| Pretax Income | $-79M | $-53M | $-41M | $-72M | $-37M | $-43M | $-72M | $-44M | $-55M | $-65M | $-70M | $-90M | $-68M | $-78M | $7M | $-48M | |
| Income Tax | $2M | $488.0K | $-4M | $9M | $425.0K | $496.0K | $856.0K | $-31.0K | $948.0K | $656.0K | $3M | $-69.0K | $163.0K | $-1M | $-207.0K | $-329.0K | |
| Net Income | $-81M | $-54M | $-37M | $-81M | $-38M | $-44M | $-73M | $-44M | $-56M | $-66M | $-73M | $-90M | $-68M | $-77M | $7M | $-48M | |
| EPS (Basic) | $-1.22 | $-0.85 | $-0.57 | $-1.38 | $-0.69 | $-0.82 | $-1.49 | $-0.91 | $-1.16 | $-1.36 | $-1.52 | $-1.88 | $-1.44 | $-1.63 | $0.15 | $-1.02 | |
| EPS (Diluted) | $-1.22 | $-0.85 | $-0.57 | $-1.38 | $-0.69 | $-0.82 | $-1.49 | $-0.91 | $-1.16 | $-1.36 | $-1.52 | $-1.88 | $-1.44 | $-1.63 | $0.15 | $-1.02 | |
| Shares (Basic) | 66,243,879 | 62,742,847 | -108,932,894 | 58,516,415 | 54,807,967 | 53,110,580 | -97,076,354 | 48,718,533 | 48,622,440 | 48,384,510 | -95,184,970 | 47,770,101 | 47,649,520 | 47,436,335 | -93,305,053 | 46,772,430 | |
| Shares (Diluted) | 66,243,879 | 62,742,847 | -108,932,894 | 58,516,415 | 54,807,967 | 53,110,580 | -97,076,354 | 48,718,533 | 48,622,440 | 48,384,510 | -95,184,970 | 47,770,101 | 47,649,520 | 47,436,335 | -93,305,053 | 46,772,430 | |
| EBITDA | $-52M | $-46M | · | $-51M | $-44M | $-39M | · | $-40M | $-44M | $-54M | · | $-82M | $-65M | $-74M | · | $-60M |
Balance Sheet 28
| 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 | $413M | $140M | $80M | $597M | $254M | $217M | $159M | $252M | $288M | $243M | $241M | $229M | $514M | $154M | $228M | $440M | |
| Receivables | $6M | $4M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Inventory | · | · | · | · | · | · | · | · | · | $8M | · | $16M | $10M | $7M | · | $4M | |
| Prepaid Expense | $10M | $17M | $21M | $10M | $19M | $13M | $9M | $19M | $18M | $19M | · | $15M | $12M | $13M | · | $14M | |
| Current Assets | $834M | $616M | $656M | $716M | $409M | $435M | $390M | $464M | $592M | $596M | · | $694M | $757M | $443M | · | $465M | |
| PP&E (Net) | $11M | $12M | $14M | $15M | $17M | $18M | $20M | $26M | $26M | $45M | · | $46M | $49M | $50M | · | $48M | |
| PP&E (Gross) | · | · | $58M | · | · | · | $52M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $44M | $44M | $41M | $36M | $32M | $31M | $28M | $58M | · | $52M | $49M | $47M | · | $40M | |
| Goodwill | $25M | $25M | $25M | $25M | $25M | $23M | $22M | $24M | $23M | $26M | · | $25M | $26M | $26M | · | $23M | |
| Intangibles | $62M | $70M | $73M | $74M | $76M | $72M | $71M | $77M | $59M | $59M | · | $58M | $60M | $60M | · | $54M | |
| Other Non-current Assets | $5M | $6M | $6M | $5M | $5M | $5M | $1M | $1M | $5M | $5M | · | $6M | $6M | $6M | · | $6M | |
| Total Assets | $985M | $779M | $825M | $888M | $585M | $605M | $557M | $646M | $731M | $770M | · | $872M | $943M | $631M | · | $638M | |
| Accounts Payable | $5M | $4M | $5M | $6M | $6M | $5M | $7M | $5M | $4M | $5M | · | $6M | $9M | $9M | · | $8M | |
| Accrued Liabilities | $51M | $43M | $41M | $52M | $31M | $27M | $29M | $32M | $26M | $23M | · | $28M | $24M | $23M | · | $26M | |
| Current Liabilities | $83M | $59M | $63M | $101M | $41M | $36M | $40M | $71M | $80M | $63M | · | $69M | $68M | $66M | · | $64M | |
| Capital Leases | $10M | $10M | $10M | $10M | $11M | $11M | $11M | $12M | $12M | $27M | · | $29M | $30M | $31M | · | $30M | |
| Deferred Tax | $8M | $8M | $8M | $8M | $8M | $7M | $7M | $8M | $7M | $7M | · | $5M | $7M | $7M | · | $9M | |
| Other Non-current Liabilities | $3M | $3M | $4M | $6M | $6M | $6M | $8M | $9M | $3M | $3M | · | $1M | $960.0K | $958.0K | · | $3M | |
| Total Liabilities | $661M | $629M | $626M | $660M | $589M | $572M | $563M | $590M | $634M | $623M | · | $603M | $589M | $218M | · | $217M | |
| Long-term Debt | · | · | $72M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $50M | $50M | · | $52M | $52M | $52M | · | $51M | $103M | $102M | · | $101M | $101M | $103M | · | $102M | |
| Common Stock | $4M | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | · | $3M | $3M | $3M | · | $3M | |
| Paid-in Capital | $1.84B | $1.59B | $1.58B | $1.58B | $1.26B | $1.26B | $1.17B | $1.17B | $1.16B | $1.16B | · | $1.14B | $1.13B | $1.12B | · | $1.10B | |
| Retained Earnings | $-1.46B | $-1.38B | $-1.33B | $-1.29B | $-1.21B | $-1.17B | $-1.13B | $-1.06B | $-1.01B | $-956M | · | $-817M | $-728M | $-659M | · | $-589M | |
| AOCI | $-58M | $-60M | $-58M | $-59M | $-59M | $-54M | $-53M | $-57M | $-56M | $-56M | · | $-59M | $-52M | $-52M | $-58M | $-93M | |
| Stockholders' Equity | $324M | $149M | $199M | $229M | $-4M | $34M | $-7M | $56M | $97M | $147M | $208M | $269M | $353M | $413M | $476M | $421M | |
| Liabilities + Equity | $985M | $779M | $825M | $888M | $585M | $605M | $557M | $646M | $731M | $770M | · | $872M | $943M | $631M | · | $638M | |
| Shares Outstanding | 69,334,839 | 63,033,249 | 62,336,717 | 62,165,900 | 54,865,673 | 54,698,479 | 48,988,087 | 48,738,874 | 48,694,569 | 48,492,357 | 47,833,830 | 47,810,291 | 47,702,331 | 47,546,673 | 46,968,032 | 46,815,109 |
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 | $5M | $3M | $3M | $4M | $4M | $5M | $4M | $3M | $3M | $3M | $4M | $3M | $3M | $3M | · | $2M | |
| Stock-based Comp | $5M | $5M | $5M | $4M | $5M | $4M | $5M | $3M | $7M | $7M | $7M | $11M | $9M | $8M | $12M | $8M | |
| Deferred Tax | $2M | $500.0K | $-391.0K | $1M | $400.0K | $500.0K | $871.0K | $-120.0K | · | · | $3M | $-69.0K | $163.0K | $-1M | $-231.0K | $-329.0K | |
| Operating Cash Flow | $-29M | $-38M | $-78M | $-16M | $-40M | $-44M | $-53M | $-37M | $-33M | $-61M | $-50M | $39M | $-57M | $-78M | $-55M | $-49M | |
| CapEx | $472.0K | $140.0K | $119.0K | $-66.0K | $260.0K | $126.0K | $40.0K | $380.0K | $604.0K | $2M | $2M | $2M | $1M | $2M | $5M | $4M | |
| Investing Cash Flow | $53M | $99M | $-441M | $27M | $73M | $20M | $-27M | $48M | $78M | $64M | $60M | $-314M | $46M | $3M | $-168M | $-5M | |
| Financing Cash Flow | $249M | $550.0K | $2M | $332M | $44.0K | $81M | $-7M | $-53M | · | · | $46.0K | $-8M | $370M | $131.0K | $601.0K | $301.0K | |
| Net Change in Cash | $273M | $60M | $-517M | $343M | $37M | $58M | $-93M | $-38M | $45M | $2M | $12M | $-284M | $360M | $-74M | $-212M | $-60M | |
| Free Cash Flow | · | $-38M | · | · | · | $-44M | · | · | · | $-63M | · | · | · | $-81M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-79M | · | · | · | $-84M | · | · |
Profitability 7
| 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 | -893.7% | -1283.5% | · | -1379.0% | -833.6% | -2510.0% | · | -1759.0% | -395.6% | -639.1% | · | -5819.3% | -2686.8% | -1392.9% | · | -4107.5% | |
| Net Margin | -1387.8% | -1503.0% | · | -2175.9% | -716.8% | -2784.8% | · | · | · | -773.3% | · | · | · | -1450.3% | · | · | |
| Pretax Margin | -1356.2% | -1489.2% | · | -1942.8% | -708.7% | -2753.1% | · | -1941.8% | -497.5% | -765.6% | · | -6371.0% | -2820.4% | -1472.9% | · | -3325.5% | |
| EBITDA Margin | -893.7% | -1283.5% | · | -1379.0% | -833.6% | -2510.0% | · | -1759.0% | -395.6% | -639.1% | · | -5819.3% | -2686.8% | -1392.9% | · | -4107.5% | |
| ROA | -10.3% | -7.7% | · | -10.5% | -5.7% | -6.3% | · | · | · | -9.4% | · | · | · | -11.1% | · | · | |
| ROE | -50.6% | -58.5% | · | -56.6% | -81.0% | -48.4% | · | · | · | -23.4% | · | · | · | -16.1% | · | · | |
| ROIC | -14.3% | -23.2% | · | -20.4% | -92.7% | -46.7% | · | -37.6% | -22.4% | -22.0% | · | -22.1% | -14.3% | -14.1% | · | -11.3% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.0 | 10.4 | · | 7.1 | 10.0 | 12.0 | · | 6.5 | 7.4 | 9.4 | · | 10.1 | 11.1 | 6.7 | · | 7.3 | |
| Quick Ratio | 5.0 | 2.4 | · | 5.9 | 6.2 | 6.0 | · | 3.5 | 3.6 | 3.8 | · | 3.3 | 7.5 | 2.3 | · | 6.9 | |
| Debt / Equity | 0.2 | 0.3 | · | 0.2 | -13.0 | 1.5 | · | 0.9 | 1.1 | 0.7 | · | 0.4 | 0.3 | 0.3 | · | 0.2 | |
| LT Debt / Equity | 0.2 | 0.3 | · | 0.2 | -13.0 | 1.5 | · | 0.9 | 1.1 | 0.7 | · | 0.4 | 0.3 | 0.3 | · | 0.2 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -3.4 | · | -5.3 | -9.5 | -20.8 | · | -19.4 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | · | 0.0 | · | · | · | · | · | · | |
| Receivables Turnover | 1.4 | 0.8 | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $18M | $14M | · | $13M | $20M | $23M | · | $23M | $23M | $18M | · | $11M | $10M | $9M | · | $6M | |
| Net Income TTM | $-253M | $-215M | · | $-206M | $-182M | $-210M | · | · | · | · | · | · | · | · | · | · | |
| Market Cap | $3.19B | $1.03B | · | $3.63B | $765M | $580M | · | $240M | $218M | $252M | · | $321M | $547M | $958M | · | $878M | |
| Enterprise Value | $2.83B | $941M | · | $3.08B | $563M | $414M | · | $40M | $33M | $111M | · | $193M | $134M | $907M | · | $540M | |
| P/E | -11.1 | -4.4 | · | -15.4 | -3.9 | -2.5 | · | -0.9 | -0.8 | -0.8 | · | -1.1 | -2.3 | -4.5 | · | -5.1 | |
| P/S | 173.9 | 73.1 | · | 283.1 | 37.8 | 24.7 | · | 10.3 | 9.3 | 14.3 | · | 30.3 | 56.4 | 105.7 | · | 153.4 | |
| P/B | 9.9 | 6.9 | · | 15.9 | -191.1 | 17.2 | · | 4.3 | 2.2 | 1.7 | · | 1.2 | 1.5 | 2.3 | · | 2.1 | |
| P / Tangible Book | 13.5 | 18.9 | · | 28.1 | · | · | · | · | 14.2 | 4.1 | · | 1.7 | 2.0 | 2.9 | · | 2.6 | |
| P / Cash Flow | · | -26.9 | · | · | · | -13.1 | · | · | · | -4.2 | · | · | · | -12.2 | · | · | |
| P / FCF | · | -26.9 | · | · | · | -13.1 | · | · | · | -4.0 | · | · | · | -11.9 | · | · | |
| EV / EBITDA | -54.2 | -20.6 | · | -60.4 | -12.8 | -10.5 | · | -1.0 | -0.7 | -2.1 | · | -2.4 | -2.1 | -12.2 | · | -9.1 | |
| EV / FCF | · | -24.5 | · | · | · | -9.4 | · | · | · | -1.8 | · | · | · | -11.2 | · | · | |
| EV / Revenue | 154.1 | 66.7 | · | 240.6 | 27.8 | 17.7 | · | 1.7 | 1.4 | 6.3 | · | 18.2 | 13.8 | 100.1 | · | 94.3 | |
| Earnings Yield | -9.0% | -22.9% | · | -6.5% | -25.7% | -40.1% | · | -107.7% | -130.4% | -121.4% | · | -89.0% | -43.0% | -22.3% | · | -19.5% |
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 | $16M | $27M | $16M | $106M | $524M |
| Operating Margin % | -1151.4% | -679.6% | -1785.5% | -134.4% | 59.3% |
| Net Income | $-199M | $-240M | $-308M | $-127M | $330M |
| Diluted EPS | $-3.46 | $-4.92 | $-6.47 | $-2.71 | $7.04 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.2 | -7.6 | 0.5 | 0.2 | 0.2 |
| Current Ratio | 10.4 | 9.7 | 8.8 | 6.3 | 17.1 |
| Quick Ratio | 1.3 | 4.0 | 3.3 | 3.0 | 15.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-178M | $-186M | $-153M | $-163M | $271M |
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Institutional owners (13F) 315 filers · $3.1B 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.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 104 (+48 vs prior Q) | 44 (-4 vs prior Q) | 87 (-1 vs prior Q) | 84 (+17 vs prior Q) | -705K |
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 |
|---|---|---|---|---|
| Avoro Capital Advisors LLC | $309,881,409 | 6,727,777 | 10.06% | Shares |
| RTW INVESTMENTS, LP | $181,548,806 | 3,941,572 | 5.89% | Shares |
| STATE STREET CORP | $133,750,180 | 2,903,825 | 4.34% | Shares |
| Aberdeen Group plc | $131,184,269 | 2,848,117 | 4.26% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $118,728,862 | 2,577,700 | 3.85% | Call option |
| ORBIMED ADVISORS LLC | $83,252,805 | 1,807,486 | 2.70% | Shares |
| Caption Management, LLC | $74,967,256 | 1,627,600 | 2.43% | Call option |
| JENNISON ASSOCIATES LLC | $69,680,259 | 1,512,815 | 2.26% | Shares |
| Boxer Capital Management, LLC | $69,241,998 | 1,503,300 | 2.25% | Shares |
| GOLDMAN SACHS GROUP INC | $67,574,626 | 1,467,100 | 2.19% | Shares |
| TWO SIGMA INVESTMENTS, LP | $67,340,825 | 1,462,024 | 2.19% | Shares |
| Two Seas Capital LP | $66,391,345 | 1,441,410 | 2.16% | Shares |
| JANE STREET GROUP, LLC | $58,196,257 | 1,263,488 | 1.89% | Shares |
| MAK CAPITAL ONE LLC | $56,748,269 | 1,232,051 | 1.84% | Shares |
| MPM BIOIMPACT LLC | $56,462,881 | 1,225,855 | 1.83% | Shares |
| FMR LLC | $54,494,830 | 1,183,127 | 1.77% | Shares |
| CITADEL ADVISORS LLC | $46,069,212 | 1,000,200 | 1.50% | Call option |
| Vestal Point Capital, LP | $43,066,100 | 935,000 | 1.40% | Shares |
| MAVERICK CAPITAL LTD | $42,623,141 | 925,383 | 1.38% | Shares |
| Integral Health Asset Management, LLC | $41,454,000 | 900,000 | 1.35% | Shares |
| Longaeva Partners L.P. | $37,059,600 | 804,594 | 1.20% | Shares |
| Nantahala Capital Management, LLC | $36,848,000 | 800,000 | 1.20% | Call option |
| VANGUARD CAPITAL MANAGEMENT LLC | $35,916,621 | 779,779 | 1.17% | Shares |
| Fiera Capital Corp | $35,628,515 | 773,524 | 1.16% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $32,619,201 | 707,810 | 1.06% | Shares |
| CITIGROUP INC | $30,629,900 | 665,000 | 0.99% | Call option |
| First Turn Management, LLC | $28,047,086 | 608,925 | 0.91% | Shares |
| Point72 Asset Management, L.P. | $27,922,125 | 606,212 | 0.91% | Shares |
| CITADEL ADVISORS LLC | $27,484,002 | 596,700 | 0.89% | Put option |
| Balyasny Asset Management L.P. | $27,017,967 | 586,582 | 0.88% | Shares |
| Kinetic Partners Management, LP | $26,760,860 | 581,000 | 0.87% | Shares |
| TWO SIGMA ADVISERS, LP | $26,571,872 | 1,110,400 | 0.86% | Shares |
| 683 Capital Management, LLC | $26,484,501 | 575,000 | 0.86% | Shares |
| TUDOR INVESTMENT CORP ET AL | $25,254,698 | 548,300 | 0.82% | Call option |
| JANE STREET GROUP, LLC | $25,231,668 | 547,800 | 0.82% | Call option |
| GILDER GAGNON HOWE & CO LLC | $24,456,893 | 530,979 | 0.79% | Shares |
| Invesco Ltd. | $24,439,021 | 530,591 | 0.79% | Shares |
| Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A. | $24,028,443 | 521,677 | 0.78% | Shares |
| Assenagon Asset Management S.A. | $23,653,192 | 513,530 | 0.77% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $22,887,076 | 496,897 | 0.74% | Shares |
| Nantahala Capital Management, LLC | $20,987,700 | 455,660 | 0.68% | Shares |
| Voss Capital, LP | $20,743,628 | 450,361 | 0.67% | Shares |
| CITADEL ADVISORS LLC | $20,275,658 | 440,201 | 0.66% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $19,349,806 | 420,100 | 0.63% | Put option |
| Rubric Capital Management LP | $18,819,241 | 408,581 | 0.61% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $18,577,748 | 403,338 | 0.60% | Shares |
| READYSTATE ASSET MANAGEMENT LP | $18,469,553 | 400,989 | 0.60% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $17,024,098 | 369,607 | 0.55% | Shares |
| MILLENNIUM MANAGEMENT LLC | $15,804,384 | 343,126 | 0.51% | Shares |
| Creek Drive Management Group LLC | $15,522,220 | 337,000 | 0.50% | Shares |
| TUDOR INVESTMENT CORP ET AL | $15,148,627 | 328,889 | 0.49% | Shares |
| Privium Fund Management B.V. | $15,122,511 | 328,322 | 0.49% | Shares |
| ADAR1 Capital Management, LLC | $14,954,392 | 324,672 | 0.49% | Shares |
| 683 Capital Management, LLC | $14,564,172 | 316,200 | 0.47% | Call option |
| BRAIDWELL LP | $13,894,091 | 301,652 | 0.45% | Shares |
| DIADEMA PARTNERS LP | $13,771,940 | 299,000 | 0.45% | Put option |
| Squarepoint Ops LLC | $12,910,618 | 280,300 | 0.42% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $11,249,602 | 244,238 | 0.37% | Shares |
| DIADEMA PARTNERS LP | $10,842,524 | 235,400 | 0.35% | Call option |
| FourWorld Capital Management LLC | $10,133,200 | 220,000 | 0.33% | Call option |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $10,018,000 | 217,500 | 0.33% | Shares |
| Parkman Healthcare Partners LLC | $9,588,310 | 208,170 | 0.31% | Shares |
| D. E. Shaw & Co., Inc. | $9,563,392 | 207,629 | 0.31% | Shares |
| TUDOR INVESTMENT CORP ET AL | $9,396,240 | 204,000 | 0.31% | Put option |
| BANK OF AMERICA CORP /DE/ | $9,386,844 | 203,796 | 0.30% | Shares |
| Caption Management, LLC | $9,262,666 | 201,100 | 0.30% | Put option |
| Affinity Asset Advisors, LLC | $9,212,000 | 200,000 | 0.30% | Call option |
| MILLENNIUM MANAGEMENT LLC | $9,202,788 | 199,800 | 0.30% | Call option |
| Diametric Capital, LP | $9,084,966 | 197,242 | 0.29% | Shares |
| BARCLAYS PLC | $8,686,916 | 188,600 | 0.28% | Call option |
| PICTON MAHONEY ASSET MANAGEMENT | $8,346,765 | 181,215 | 0.27% | Shares |
| Affinity Asset Advisors, LLC | $8,060,500 | 175,000 | 0.26% | Shares |
| Trexquant Investment LP | $7,883,123 | 171,149 | 0.26% | Shares |
| PERCEPTIVE ADVISORS LLC | $7,738,080 | 168,000 | 0.25% | Shares |
| VANGUARD GROUP INC | $7,660,137 | 320,106 | 0.25% | Shares |
| Nantahala Capital Management, LLC | $7,438,690 | 161,500 | 0.24% | Put option |
| FLAX POND CAPITAL, LLC | $7,218,800 | 156,726 | 0.23% | Shares |
| AMERIPRISE FINANCIAL INC | $7,002,133 | 152,022 | 0.23% | Shares |
| Casdin Capital, LLC | $6,909,000 | 150,000 | 0.22% | Shares |
| LMR Partners LLP | $6,909,000 | 150,000 | 0.22% | Call option |
| MARSHALL WACE, LLP | $6,615,321 | 143,624 | 0.21% | Shares |
| WOLVERINE TRADING, LLC | $6,599,340 | 111,100 | 0.21% | Call option |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,498,744 | 141,093 | 0.21% | Shares |
| UBS Group AG | $6,110,412 | 132,662 | 0.20% | Shares |
| CITIGROUP INC | $5,893,101 | 127,944 | 0.19% | Shares |
| SIG BROKERAGE, LP | $5,872,650 | 127,500 | 0.19% | Call option |
| ENVESTNET ASSET MANAGEMENT INC | $5,830,106 | 126,576 | 0.19% | Shares |
| Susquehanna Portfolio Strategies, LLC | $5,613,286 | 121,869 | 0.18% | Shares |
| Hudson Bay Capital Management LP | $5,527,200 | 120,000 | 0.18% | Shares |
| WOLVERINE TRADING, LLC | $5,482,620 | 92,300 | 0.18% | Put option |
| NAN FUNG TRINITY (HK) LTD | $5,319,654 | 115,494 | 0.17% | Shares |
| SIMPLEX TRADING, LLC | $5,076,687 | 110,219 | 0.16% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $4,836,300 | 105,000 | 0.16% | Shares |
| Ghisallo Capital Management LLC | $4,606,000 | 100,000 | 0.15% | Shares |
| Pekin Hardy Strauss, Inc. | $4,341,155 | 94,250 | 0.14% | Shares |
| Swiss National Bank | $4,334,246 | 94,100 | 0.14% | Shares |
| JANE STREET GROUP, LLC | $4,209,884 | 91,400 | 0.14% | Put option |
| STEMPOINT CAPITAL LP | $4,058,577 | 88,115 | 0.13% | Shares |
| FourWorld Capital Management LLC | $4,007,220 | 87,000 | 0.13% | Shares |
| Marex Group Ltd | $3,753,890 | 81,500 | 0.12% | Shares |
Company insiders 28 insiders · 17 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Matthew C Kapusta | CEO, Managing Director | July 2, 2026 M | 519,227 | 0 | 21 | $-22,247,399 |
| Christian Klemt | Chief Financial Officer | March 4, 2026 A | 226,581 | 0 | 5 | $-1,326,871 |
| Ricardo Dolmetsch | President, R&D | Sept. 18, 2023 S | 163,404 | 0 | 0 | $0 |
| Pierre Caloz | Chief Operating Officer | June 17, 2024 S | 115,707 | 0 | 0 | $0 |
| Scott T. Mcmillan | Chief Operating Officer | Jan. 28, 2019 S | 20,432 | 0 | 0 | $0 |
| Walid Abi-Saab | Chief Medical Officer | June 30, 2026 M | 148,235 | 0 | 7 | $-2,611,134 |
| Jeannette Potts | Chief Legal Officer | June 15, 2026 S | 133,246 | 0 | 3 | $-261,172 |
| Kylie O'Keefe | Chief Customer & Strat Officer | June 11, 2026 S | 108,864 | 0 | 1 | $-431,228 |
| Alexander Edward Kuta III | Executive VP, Operations | March 7, 2023 S | 90,381 | 0 | 0 | $0 |
| Sander Van Deventer | EVP, Research & Product Dev. | Feb. 27, 2020 A | 61,599 | 0 | 0 | $0 |
| Steven Zelenkofske | Chief Medical Officer | June 6, 2018 S | 159,458 | 0 | 0 | $0 |
| Jonathan Garen | Chief Business Officer | Jan. 26, 2018 A | 93,638 | 0 | 0 | $0 |
| Paul E Firuta | Chief Commercial Officer | Jan. 26, 2018 A | 93,817 | 0 | 0 | $0 |
| Maria E Cantor | SVP, Investor Rel. & Comm. | Jan. 26, 2018 A | 92,439 | 0 | 0 | $0 |
| Harald Petry | Chief Scientific Officer | June 29, 2017 M | 0 | 0 | 0 | $0 |
| Christian Meyer | Chief Medical Officer | Jan. 27, 2017 A | — | 0 | 0 | $0 |
| Maiken Keson-Brookes | General Counsel | Jan. 27, 2017 A | — | 0 | 0 | $0 |
| Jack Kaye | Director | June 30, 2026 M | 25,996 | 0 | 9 | $-2,693,581 |
| Madhavan Balachandran | Director | June 17, 2026 M | 43,254 | 0 | 5 | $-858,916 |
| Rachelle Suzanne Jacques | Director | June 10, 2026 A | 33,903 | 0 | 1 | $-53,931 |
| Jeremy P. Springhorn | Director | June 10, 2026 A | 43,251 | 0 | 1 | $-53,931 |
| Robert Gut | Director | June 10, 2026 A | 32,259 | 0 | 9 | $-1,757,850 |
| David D. Meek | Director | June 10, 2026 A | 39,747 | 0 | 1 | $-53,931 |
| Leonard E Post | Director | June 10, 2026 A | 35,494 | 0 | 1 | $-53,931 |
| Paula Soteropoulos | Director | June 13, 2024 S | 20,203 | 0 | 0 | $0 |
| Philip Astley-Sparke | Director | March 2, 2021 S | 9,946 | 0 | 0 | $0 |
| David Schaffer | Director | Feb. 27, 2020 A | 46,978 | 0 | 0 | $0 |
| William Lewis | Director | Jan. 27, 2017 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| Coller Investment Management Limited, Coller International General Partner V, L.P, Coller International Partners V-A, L.P ×4 filings | April 3, 2019 | — | 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 14 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 |
|---|---|---|---|---|
| GNOM · Global X Funds | 1.59% | 31,188 NS | May 31, 2026 | N-PORT |
| PTH · Invesco Exchange-Traded Fund Trust | 1.54% | 81,827 SH | Aug. 8, 2026 | Daily |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.47% | 45,896 SH | Aug. 8, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.37% | 97,163 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.20% | 3,429 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.20% | 416,066 SH | Aug. 8, 2026 | Daily |
| ESIM · Strategy Shares | 0.11% | 867 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.09% | 14,177 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.05% | 2,897 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 757,841 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.03% | 141,093 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.02% | 2,372 SH | Aug. 8, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 89,144 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 52 NS | May 31, 2026 | N-PORT |