RPID Rapid Micro Biosystems, Inc. - Class A Common Stock
$1.63
Price · Aug 19, 2026
Fundamentals as of Aug 7, 2026
52W Range
$2–$5
3% of range
Analyst Rating
BUY
10 analysts
Price Target
$7
+309% upside
P/E (TTM)
-2.8
ROE
-107.4%
Net Profit Margin
-140.3%
RPID Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.63
Market Cap
—
P/E (TTM)
-2.8
EPS (TTM)
$-1.05
Revenue (TTM)
$34M
Div Yield
—
ROE
-107.4%
Debt/Equity
0.6
52W Range
$2 – $5
RPID 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
$34M
2020-12-31
→
2025-12-31
EPS
$-1.05
2020-12-31
→
2025-12-31
Free Cash Flow
$-32M
2021-12-31
→
2025-12-31
Margins
-140.3%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
RPID
Peer Median
P/E (TTM)
-2.8
31.9
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
RPID
Peer Median
Operating Margin
-141.1%
—
Net Profit Margin
-140.3%
-71.9%
ROA
-54.5%
-23.6%
ROE
-107.4%
-35.1%
ROIC
-91.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
RPID
Peer Median
Debt / Equity
0.6
187.4
Current Ratio
3.3
4.5
Quick Ratio
1.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
RPID
Peer Median
Revenue YoY
19.7%
—
Revenue CAGR 3Y
25.1%
—
Revenue CAGR 5Y
15.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
RPID
Peer Median
RPID Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 3 30.0%
- Buy 6 60.0%
- Hold 1 10.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
3 analysts · 2026-08-15
Median
$7.00
Mean
$6.67
← Below all targets
$1.63
Low
$5.00
High
$8.00
Median target
$7.00
+329.0%
Mean target
$6.67
+308.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.02%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.27 | $-0.25 | -0.02% |
| March 31, 2026 | $-0.31 | $-0.25 | -0.06% |
| Dec. 31, 2025 | $-0.28 | $-0.23 | -0.05% |
| Sept. 30, 2025 | $-0.26 | $-0.25 | -0.01% |
| June 30, 2025 | $-0.27 | $-0.26 | -0.01% |
| March 31, 2025 | $-0.26 | $-0.28 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RPID | — | -2.8 | 19.7% | -140.3% | -107.4% | — |
| QSI | — | — | — | — | — | — |
| MXCT | $166M | -3.7 | -14.5% | -135.1% | -24.6% | 81.2% |
| QTRX | $297M | -2.5 | 1.1% | -77.1% | -36.4% | 46.8% |
| SEER | — | -1.4 | 17.0% | — | — | — |
| NAUT | $247M | -4.1 | — | — | -34.9% | — |
| CSBR | $83M | -74.5 | 4.4% | -2.0% | -30.5% | — |
| HYFT | — | — | — | — | — | — |
| TMO | $257.86B | 32.7 | 3.9% | 15.0% | 13.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $34M | $28M | $23M | $17M | $23M | $16M | |
| R&D Expense | $14M | $15M | $13M | $13M | $10M | $7M | |
| SG&A Expense | $23M | $22M | $25M | $27M | $18M | $10M | |
| Operating Expenses | $81M | $78M | $79M | $80M | $70M | $47M | |
| Operating Income | $-47M | $-50M | $-57M | $-63M | $-47M | $-31M | |
| Interest Expense | · | · | · | · | $3M | $3M | |
| Interest Income | $2M | $3M | · | · | · | · | |
| Other Non-op | $-110.0K | $-112.0K | $-83.0K | $59.0K | $-850.0K | $22.0K | |
| Pretax Income | $-47M | $-47M | $-52M | $-61M | $-73M | $-37M | |
| Income Tax | $40.0K | $22.0K | $31.0K | $-576.0K | $91.0K | $134.0K | |
| Net Income | $-47M | $-47M | $-52M | $-61M | $-74M | $-37M | |
| EPS (Basic) | $-1.05 | $-1.08 | $-1.22 | $-1.43 | $-3.94 | $-126.11 | |
| EPS (Diluted) | $-1.05 | $-1.08 | $-1.22 | $-1.43 | $-3.94 | $-126.11 | |
| Shares (Basic) | 44,679,341 | 43,575,705 | 43,024,039 | 42,454,403 | 19,783,539 | 358,582 | |
| Shares (Diluted) | 44,679,341 | 43,575,705 | 43,024,039 | 42,454,403 | 19,783,539 | 358,582 | |
| EBITDA | $-44M | $-47M | $-53M | · | $-46M | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $20M | $17M | $24M | $27M | $178M | $30M | |
| Short-term Investments | · | · | · | · | $15M | $15M | |
| Receivables | $3M | $8M | $6M | $5M | $5M | $5M | |
| Inventory | $18M | $20M | $20M | $21M | $16M | $9M | |
| Prepaid Expense | $2M | $2M | $3M | $3M | $4M | $3M | |
| Other Current Assets | $734.0K | $843.0K | $577.0K | $705.0K | $440.0K | $546.0K | |
| Current Assets | $61M | $81M | $120M | $139M | $218M | $62M | |
| PP&E (Net) | $9M | $11M | $13M | $14M | $11M | $7M | |
| PP&E (Gross) | $28M | $28M | $27M | $26M | $23M | $17M | |
| Accum. Depreciation | $19M | $17M | $14M | $12M | $12M | $10M | |
| Other Non-current Assets | $319.0K | $531.0K | $770.0K | $1M | $1M | $695.0K | |
| Total Assets | $75M | $98M | $143M | $191M | $241M | $70M | |
| Accounts Payable | $4M | $3M | $2M | $5M | $4M | $4M | |
| Accrued Liabilities | $8M | $7M | $10M | $8M | $11M | $7M | |
| Current Liabilities | $18M | $18M | $19M | $19M | $18M | $16M | |
| Capital Leases | $4M | $5M | $6M | $7M | · | · | |
| Other Non-current Liabilities | $397.0K | $298.0K | $263.0K | $229.0K | $1M | · | |
| Total Liabilities | $42M | $23M | $25M | $26M | $20M | $45M | |
| Long-term Debt | · | · | · | $0 | $0 | $25M | |
| Total Debt | $19M | · | · | · | · | · | |
| Paid-in Capital | $555M | $550M | $546M | $541M | $536M | $115M | |
| Retained Earnings | $-522M | $-475M | $-428M | $-376M | $-315M | $-242M | |
| AOCI | $11.0K | $39.0K | $-101.0K | $-1M | $-16.0K | $1.0K | |
| Stockholders' Equity | $33M | $75M | $118M | $164M | $221M | $-127M | |
| Liabilities + Equity | $75M | $98M | $143M | $191M | $241M | $70M |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $3M | $3M | $2M | $2M | |
| Stock-based Comp | $4M | $4M | $5M | $4M | $2M | $533.0K | |
| Deferred Tax | $11M | $11M | $12M | $-16M | $20M | $-8M | |
| Other Non-cash | $-3M | $-16M | $12M | · | $-5M | · | |
| Operating Cash Flow | $-31M | $-44M | $-45M | $-59M | $-55M | $-31M | |
| CapEx | $850.0K | $1M | $2M | $7M | $3M | $690.0K | |
| Investing Cash Flow | $14M | $37M | $42M | $-93M | $-13M | $-16M | |
| Debt Issued | $20M | $0 | · | · | · | · | |
| Net Debt Issued | $20M | · | · | · | $-26M | · | |
| Stock Issued | $445.0K | $0 | · | · | · | · | |
| Net Stock Activity | $445.0K | · | · | · | · | · | |
| Financing Cash Flow | $20M | $203.0K | $149.0K | $693.0K | $217M | $64M | |
| Free Cash Flow | $-32M | $-46M | $-47M | · | $-58M | · | |
| Levered FCF | · | · | · | · | $-61M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -141.1% | -178.0% | -251.2% | · | -203.3% | · | |
| Net Margin | -140.3% | -167.2% | -233.0% | · | -316.5% | · | |
| Pretax Margin | -140.2% | -167.1% | -232.8% | · | -316.1% | · | |
| EBITDA Margin | -131.4% | -166.0% | -237.4% | · | -196.7% | · | |
| ROA | -54.5% | -38.8% | -31.4% | · | -47.3% | · | |
| ROE | -107.4% | -58.7% | -42.7% | · | -32.3% | · | |
| ROIC | -91.0% | -66.3% | -48.0% | · | -21.4% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 3.3 | 4.6 | 6.3 | · | 12.0 | · | |
| Quick Ratio | 1.3 | 1.4 | 1.6 | · | 10.9 | · | |
| Debt / Equity | 0.6 | · | · | · | · | · | |
| LT Debt / Equity | 0.6 | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | -17.8 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.2 | 0.1 | · | 0.1 | · | |
| Receivables Turnover | 6.3 | 4.3 | 4.1 | · | 4.6 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 19.7% | 24.6% | 31.4% | -26.2% | 44.5% | · | |
| Revenue CAGR 3Y | 25.1% | 6.5% | 11.9% | · | · | · | |
| Revenue CAGR 5Y | 15.9% | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $34M | $28M | $23M | $17M | $23M | · | |
| Net Income TTM | $-47M | $-47M | $-52M | $-61M | $-74M | · | |
| P/E | -2.8 | -0.8 | -0.6 | -0.8 | -2.7 | · | |
| Earnings Yield | -36.2% | -120.0% | -164.9% | -126.6% | -37.0% | · |
Income Statement 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8M | $8M | $11M | $8M | $7M | $7M | $8M | $8M | $7M | $6M | $6M | $6M | $5M | $5M | $4M | $5M | |
| Cost of Revenue | $7M | $8M | · | · | $7M | $7M | · | · | · | · | · | · | · | · | · | · | |
| Gross Profit | $1M | $371.0K | · | · | $275.0K | $404.0K | · | · | · | · | · | · | · | · | · | · | |
| R&D Expense | $3M | $3M | $3M | $4M | $3M | $4M | $3M | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | |
| SG&A Expense | $7M | $7M | $5M | $6M | $6M | $6M | $5M | $6M | $6M | $6M | $6M | $6M | $7M | $6M | $7M | $7M | |
| Operating Expenses | $14M | $14M | $23M | $19M | $12M | $12M | $18M | $20M | $20M | $20M | $19M | $21M | $20M | $20M | $22M | $22M | |
| Operating Income | $-12M | $-14M | $-12M | $-11M | $-12M | $-12M | $-10M | $-12M | $-13M | $-14M | $-12M | $-14M | $-15M | $-15M | $-17M | $-17M | |
| Interest Income | $140.0K | $256.0K | $321.0K | $347.0K | $351.0K | $466.0K | $587.0K | $779.0K | · | · | · | · | · | · | · | · | |
| Other Non-op | $-50.0K | $-32.0K | $80.0K | $-79.0K | $-38.0K | $-49.0K | $-21.0K | $-39.0K | $-23.0K | $-29.0K | $-17.0K | $-26.0K | $-29.0K | $-11.0K | $-11.0K | $-21.0K | |
| Income Tax | $45.0K | $8.0K | $14.0K | $8.0K | $11.0K | $7.0K | $-9.0K | $13.0K | $15.0K | $3.0K | $8.0K | $10.0K | $6.0K | $7.0K | $7.0K | $7.0K | |
| Net Income | $-13M | $-14M | $-12M | $-12M | $-12M | $-11M | $-10M | $-11M | $-13M | $-13M | $-11M | $-13M | $-14M | $-14M | $-16M | $-16M | |
| EPS (Basic) | $-0.27 | $-0.31 | $-0.26 | $-0.26 | $-0.27 | $-0.26 | $-0.22 | $-0.26 | $-0.29 | $-0.31 | $-0.26 | $-0.31 | $-0.33 | $-0.32 | $-0.39 | $-0.38 | |
| EPS (Diluted) | $-0.27 | $-0.31 | $-0.26 | $-0.26 | $-0.27 | $-0.26 | $-0.22 | $-0.26 | $-0.29 | $-0.31 | $-0.26 | $-0.31 | $-0.33 | $-0.32 | $-0.39 | $-0.38 | |
| Shares (Basic) | 48,346,663 | 45,433,800 | -88,918,751 | 44,956,131 | 44,648,602 | 43,993,359 | -86,955,287 | 43,668,656 | 43,616,501 | 43,245,835 | -85,928,573 | 43,080,095 | 43,059,937 | 42,812,580 | -84,755,531 | 42,517,992 | |
| Shares (Diluted) | 48,346,663 | 45,433,800 | -88,918,751 | 44,956,131 | 44,648,602 | 43,993,359 | -86,955,287 | 43,668,656 | 43,616,501 | 43,245,835 | -85,928,573 | 43,080,095 | 43,059,937 | 42,812,580 | -84,755,531 | 42,517,992 | |
| EBITDA | $-12M | $-13M | · | $-11M | $-12M | $-11M | · | $-12M | $-13M | $-13M | · | $-14M | $-15M | $-14M | · | $-17M |
Balance Sheet 24
| 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 | $15M | $14M | $20M | $19M | $18M | $19M | $17M | $22M | $37M | $22M | $24M | $24M | $29M | $24M | $27M | $26M | |
| Receivables | $6M | $6M | $3M | $5M | $6M | $5M | $8M | $4M | $5M | $5M | $6M | $4M | $3M | $6M | $5M | $5M | |
| Inventory | $19M | $17M | $18M | $21M | $21M | $21M | $20M | $21M | $21M | $20M | $20M | $20M | $21M | $21M | $21M | $21M | |
| Prepaid Expense | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $2M | $2M | $3M | $3M | $4M | |
| Other Current Assets | $706.0K | $823.0K | $854.0K | $621.0K | $756.0K | $1M | $843.0K | $751.0K | $758.0K | $1M | $577.0K | $802.0K | $891.0K | $1M | $705.0K | $726.0K | |
| Current Assets | $46M | $49M | $61M | $70M | $60M | $69M | $81M | $88M | $98M | $108M | $120M | $115M | $133M | $129M | $139M | $145M | |
| PP&E (Net) | $8M | $9M | $9M | $10M | $10M | $11M | $11M | $12M | $12M | $13M | $13M | $13M | $13M | $14M | $14M | $13M | |
| PP&E (Gross) | $29M | $29M | $28M | $28M | $28M | $28M | $28M | $28M | $28M | $28M | $27M | $26M | $26M | $26M | $26M | $24M | |
| Accum. Depreciation | $21M | $20M | $19M | $19M | $18M | $17M | $17M | $16M | $16M | $15M | $14M | $14M | $13M | $12M | $12M | $11M | |
| Other Non-current Assets | $178.0K | $245.0K | $319.0K | $211.0K | $311.0K | $421.0K | $531.0K | $642.0K | $598.0K | $684.0K | $770.0K | $856.0K | $956.0K | $1M | $1M | $1M | |
| Total Assets | $58M | $62M | $75M | $84M | $76M | $85M | $98M | $106M | $117M | $128M | $143M | $150M | $161M | $173M | $191M | $202M | |
| Accounts Payable | $5M | $5M | $4M | $4M | $3M | $3M | $3M | $2M | $2M | $1M | $2M | $3M | $1M | $1M | $5M | $4M | |
| Accrued Liabilities | $6M | $6M | $8M | $7M | $6M | $5M | $7M | $7M | $8M | $7M | $10M | $7M | $8M | $6M | $8M | $7M | |
| Current Liabilities | $18M | $19M | $18M | $17M | $16M | $15M | $18M | $16M | $17M | $16M | $19M | $16M | $14M | $14M | $19M | $15M | |
| Capital Leases | $3M | $3M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | $6M | $6M | $6M | $6M | $7M | $7M | $7M | |
| Other Non-current Liabilities | $348.0K | $340.0K | $397.0K | $340.0K | $314.0K | $306.0K | $298.0K | $289.0K | $281.0K | $272.0K | $263.0K | $255.0K | $247.0K | $238.0K | $229.0K | $221.0K | |
| Total Liabilities | $41M | $42M | $42M | $40M | $21M | $20M | $23M | $21M | $22M | $22M | $25M | $22M | $21M | $21M | $26M | $23M | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Total Debt | $19M | $19M | · | $19M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Paid-in Capital | $567M | $557M | $555M | $554M | $553M | $552M | $550M | $549M | $548M | $547M | $546M | $545M | $544M | $542M | $541M | $539M | |
| Retained Earnings | $-550M | $-537M | $-522M | $-510M | $-498M | $-487M | $-475M | $-466M | $-454M | $-442M | $-428M | $-417M | $-404M | $-390M | $-376M | $-359M | |
| AOCI | $-1.0K | $-1.0K | $11.0K | $12.0K | $-2.0K | $13.0K | $39.0K | $83.0K | $-25.0K | $-78.0K | $-101.0K | $-453.0K | $-695.0K | $-662.0K | $-1M | $-1M | |
| Stockholders' Equity | $18M | $20M | $33M | $44M | $55M | $65M | $75M | $84M | $95M | $106M | $118M | $128M | $140M | $152M | $164M | $179M | |
| Liabilities + Equity | $58M | $62M | $75M | $84M | $76M | $85M | $98M | $106M | $117M | $128M | $143M | $150M | $161M | $173M | $191M | $202M |
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 | $674.0K | $706.0K | $790.0K | $804.0K | $811.0K | $847.0K | $869.0K | $859.0K | $828.0K | $806.0K | $794.0K | $781.0K | $771.0K | $759.0K | $860.0K | $734.0K | |
| Stock-based Comp | $1M | $1M | $627.0K | $1M | $1M | $1M | $689.0K | $929.0K | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $673.0K | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $1M | |
| Other Non-cash | · | $-3M | · | · | · | $309.0K | · | · | · | $-4M | · | · | · | $-5M | · | · | |
| Operating Cash Flow | $-13M | $-15M | $-3M | $-9M | $-10M | $-9M | $-10M | $-9M | $-10M | $-16M | $-9M | $-10M | $-9M | $-17M | $-12M | $-15M | |
| CapEx | $-223.0K | $394.0K | $92.0K | $73.0K | $366.0K | $319.0K | $98.0K | $223.0K | $459.0K | $585.0K | $418.0K | $453.0K | $215.0K | $759.0K | $811.0K | $2M | |
| Investing Cash Flow | $4M | $9M | $4M | $-10M | $9M | $11M | $5M | $-7M | $25M | $14M | $10M | $5M | $13M | $14M | $13M | $-9M | |
| Debt Issued | · | · | $0 | · | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $9M | $247.0K | $443.0K | $19M | $-298.0K | $379.0K | $-6.0K | $61.0K | $-10.0K | $158.0K | $-12.0K | $48.0K | $-9.0K | $122.0K | $87.0K | $151.0K | |
| Free Cash Flow | · | $-15M | · | · | · | $-9M | · | · | · | $-16M | · | · | · | $-17M | · | · |
Profitability 6
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.0% | 4.6% | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Operating Margin | -153.0% | -173.1% | · | -145.1% | -167.3% | -161.8% | · | -158.3% | -202.2% | -254.4% | · | -235.1% | -301.0% | -295.4% | · | -356.3% | |
| Net Margin | -160.5% | -178.4% | · | -146.8% | -163.3% | -156.3% | · | -148.9% | -190.1% | -237.4% | · | -217.9% | -280.2% | -275.8% | · | -344.8% | |
| EBITDA Margin | -153.0% | -164.3% | · | -145.1% | -167.3% | -150.1% | · | -158.3% | -202.2% | -240.0% | · | -235.1% | -301.0% | -280.3% | · | -356.3% | |
| ROA | -19.3% | -19.3% | · | -12.1% | -12.3% | -10.6% | · | -8.8% | -9.0% | -8.8% | · | -7.6% | -7.4% | -6.9% | · | -7.2% | |
| ROE | -35.8% | -33.2% | · | -17.9% | -15.9% | -13.1% | · | -10.7% | -10.7% | -10.3% | · | -8.7% | -8.4% | -7.7% | · | -7.9% |
Liquidity & Solvency 4
| 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 | 2.5 | 2.6 | · | 4.2 | 3.7 | 4.6 | · | 5.5 | 5.9 | 6.9 | · | 7.4 | 9.2 | 9.5 | · | 9.5 | |
| Quick Ratio | 1.1 | 1.1 | · | 1.5 | 1.5 | 1.6 | · | 1.6 | 2.5 | 1.8 | · | 1.8 | 2.2 | 2.2 | · | 2.0 | |
| Debt / Equity | 1.1 | 0.9 | · | 0.4 | · | · | · | · | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | 1.1 | 0.9 | · | 0.4 | · | · | · | · | · | · | · | · | · | · | · | · |
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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Inventory Turnover | 0.3 | 0.4 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Receivables Turnover | 1.4 | 1.5 | · | 1.7 | 1.3 | 1.5 | · | 2.0 | 1.6 | 1.1 | · | 1.4 | 1.3 | 1.1 | · | 1.0 |
Valuation (TTM) 4
| 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 | $31M | $30M | · | $30M | $29M | $27M | · | $26M | $23M | $22M | · | $21M | $19M | $18M | · | $20M | |
| Net Income TTM | $-51M | $-49M | · | $-46M | $-47M | $-48M | · | $-51M | $-53M | $-55M | · | $-58M | $-57M | $-58M | · | $-69M | |
| P/E | -1.6 | -2.1 | · | -3.2 | -3.2 | -2.4 | · | -0.8 | -0.5 | -0.8 | · | -0.8 | -0.7 | -1.0 | · | -1.8 | |
| Earnings Yield | -64.2% | -48.5% | · | -31.4% | -31.3% | -42.4% | · | -131.5% | -187.9% | -130.9% | · | -124.1% | -134.0% | -103.8% | · | -54.2% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $34M | $28M | $23M | $17M | $23M |
| Operating Margin % | -141.1% | -178.0% | -251.2% | — | -203.3% |
| Net Income | $-47M | $-47M | $-52M | $-61M | $-74M |
| Diluted EPS | $-1.05 | $-1.08 | $-1.22 | $-1.43 | $-3.94 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.6 | — | — | — | — |
| Current Ratio | 3.3 | 4.6 | 6.3 | — | 12.0 |
| Quick Ratio | 1.3 | 1.4 | 1.6 | — | 10.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-32M | $-46M | $-47M | — | $-58M |
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Institutional owners (13F) 35 filers · $32.1M 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 |
|---|---|---|---|---|
| 8 (-2 vs prior Q) | 16 (+9 vs prior Q) | 10 (-5 vs prior Q) | 9 (0 vs prior Q) | +3.0M |
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 |
|---|---|---|---|---|
| Bain Capital Life Sciences Investors, LLC | $14,591,789 | 8,434,560 | 45.44% | Shares |
| ARMISTICE CAPITAL, LLC | $5,757,440 | 3,328,000 | 17.93% | Shares |
| ABG-WTT Global Life Science Capital Partners GP Ltd | $3,197,552 | 1,848,296 | 9.96% | Shares |
| VANGUARD GROUP INC | $2,486,573 | 857,439 | 7.74% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,698,919 | 982,034 | 5.29% | Shares |
| Evernest Financial Advisors, LLC | $875,380 | 506,000 | 2.73% | Shares |
| Advent International, L.P. | $657,044 | 379,794 | 2.05% | Shares |
| ESSEX INVESTMENT MANAGEMENT CO LLC | $627,464 | 362,696 | 1.95% | Shares |
| MILLENNIUM MANAGEMENT LLC | $409,316 | 236,599 | 1.27% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $366,935 | 212,101 | 1.14% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $318,910 | 184,228 | 0.99% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $191,137 | 110,484 | 0.60% | Shares |
| STATE STREET CORP | $162,402 | 93,874 | 0.51% | Shares |
| XTX Topco Ltd | $137,928 | 79,727 | 0.43% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $137,826 | 79,668 | 0.43% | Shares |
| SEI INVESTMENTS CO | $115,683 | 66,869 | 0.36% | Shares |
| NORTHERN TRUST CORP | $72,843 | 42,106 | 0.23% | Shares |
| ALGERT GLOBAL LLC | $66,271 | 38,307 | 0.21% | Shares |
| MORGAN STANLEY | $47,726 | 27,587 | 0.15% | Shares |
| JANE STREET GROUP, LLC | $37,275 | 21,546 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $27,926 | 16,142 | 0.09% | Shares |
| OSAIC HOLDINGS, INC. | $24,739 | 14,300 | 0.08% | Shares |
| NANO CAP NEW MILLENNIUM GROWTH FUND L P | $21,625 | 12,500 | 0.07% | Shares |
| AMERICAN CENTURY COMPANIES INC | $20,134 | 11,638 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $20,120 | 11,630 | 0.06% | Shares |
| Larson Financial Group LLC | $14,523 | 8,395 | 0.05% | Shares |
| BlackRock, Inc. | $13,017 | 7,524 | 0.04% | Shares |
| UBS Group AG | $11,430 | 6,607 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $3,287 | 1,900 | 0.01% | Shares |
| BARCLAYS PLC | $583 | 337 | 0.00% | Shares |
| CWM, LLC | $427 | 188 | 0.00% | Shares |
| JPMORGAN CHASE & CO | $189 | 109 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $61 | 35 | 0.00% | Shares |
| HRT FINANCIAL LP | $39 | 23,093 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $26 | 15 | 0.00% | Shares |
Company insiders 16 insiders · 4 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| SPIGNESI ROBERT G JR | PRESIDENT AND CEO | July 22, 2026 M | 1,191,973 | 0 | 0 | $0 |
| Sean M Wirtjes | CHIEF FINANCIAL OFFICER | May 29, 2026 A | 568,981 | 0 | 3 | $-122,732 |
| Jonathan Paris | SVP, GC & Secretary | Feb. 13, 2023 F | 41,998 | 0 | 0 | $0 |
| Richard A Keys | CHIEF COMMERCIAL OFFICER | Feb. 11, 2022 A | 43,750 | 0 | 0 | $0 |
| Richard S Kollender | Director | July 24, 2026 M | 133,826 | 0 | 0 | $0 |
| Inese Lowenstein | Director | May 29, 2026 A | 70,687 | 0 | 0 | $0 |
| Melinda Litherland Pei | Director | May 29, 2026 A | 100,687 | 0 | 0 | $0 |
| Kirk Malloy | Director | May 29, 2026 A | 60,687 | 0 | 0 | $0 |
| Natale S Ricciardi | Director | Feb. 27, 2026 M | 29,442 | 0 | 0 | $0 |
| Jeffrey Lawrence Schwartz | Director | May 23, 2024 A | 14,300 | 0 | 0 | $0 |
| Alexander Schmitz | Director | July 14, 2021 A | — | 0 | 0 | $0 |
| Gurinder Grewal | 10% owner | July 19, 2021 C | 294,990 | 0 | 0 | $0 |
| John J. Addington Wilson | — | Feb. 11, 2026 A | 331,768 | 0 | 0 | $0 |
| Dafni Bika | — | May 22, 2025 A | — | 0 | 0 | $0 |
| David Hirsch | — | May 23, 2024 A | 14,300 | 0 | 0 | $0 |
| Victoria Vezina | — | March 11, 2024 F | 112,608 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| SPIGNESI ROBERT G JR | Aug. 19, 2025 | 6.30% | Initial filing | — | SEC |
| Kennedy Lewis Management LP (2), KLM GP LLC (2), Kennedy Lewis Investment Management LLC (2), Kennedy Lewis Investment Holdings II LLC (2), Kennedy Lewis Capital Partners Master Fund II LP (2), Kennedy Lewis GP II LLC (2), Kennedy Lewis Capital Partners Master Fund III LP (2), Kennedy Lewis GP III LLC (2), Darren Richman (2), David Chene (2) ×2 filings | Aug. 29, 2022 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 6 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 | 0.02% | 112,127 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 11,638 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 30,705 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 202,760 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 750,984 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 5,089 NS | April 30, 2026 | N-PORT |