RZLT Rezolute, Inc. - Common Stock (NV)
$4.82
Price · Aug 19, 2026
Fundamentals as of May 12, 2026
52W Range
$1–$11
36% of range
Analyst Rating
BUY
16 analysts
Price Target
$8
+59% upside
P/E (TTM)
-4.9
ROE
-56.9%
Net Profit Margin
—
RZLT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$4.82
Market Cap
$419M
P/E (TTM)
-4.9
EPS (TTM)
$-0.98
Revenue (TTM)
—
Div Yield
—
ROE
-56.9%
Debt/Equity
—
52W Range
$1 – $11
RZLT 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
—
EPS
$-0.98
2021-06-30
→
2025-06-30
Free Cash Flow
—
2019-06-30
→
2023-06-30
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
RZLT
Peer Median
P/E (TTM)
-4.9
16.6
P/B
2.6
2.4
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
RZLT
Peer Median
ROA
-48.3%
-38.4%
ROE
-56.9%
-63.7%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
RZLT
Peer Median
Current Ratio
14.4
3.9
Quick Ratio
14.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
RZLT
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
RZLT
Peer Median
RZLT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
16 analysts
- Strong Buy 6 37.5%
- Buy 7 43.8%
- Hold 3 18.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-19
Median
$6.00
Mean
$7.67
Now
$4.82
Low
$4.00
High
$14.00
Median target
$6.00
+24.6%
Mean target
$7.67
+59.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
Next Report
Sep 15, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.16 | $-0.18 | 0.02% |
| Dec. 31, 2025 | $-0.22 | $-0.19 | -0.03% |
| Sept. 30, 2025 | $-0.18 | $-0.27 | 0.09% |
| June 30, 2025 | $-0.26 | $-0.22 | -0.04% |
| March 31, 2025 | $-0.27 | $-0.23 | -0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RZLT | $388M | -4.6 | — | — | -56.9% | — |
| QTTB | $43M | 1.4 | — | 55.5% | 200.3% | — |
| OCGN | $422M | -5.6 | 8.8% | -1537.4% | 1488.8% | — |
| LRMR | $317M | -2.2 | — | — | -167.4% | — |
| PBYI | $300M | 9.8 | -0.91% | 13.6% | 26.5% | — |
| BNTC | $307M | -11.1 | — | — | -43.8% | — |
| EDIT | $201M | -1.1 | 25.4% | -395.0% | -688.8% | — |
| CMPX | $958M | — | — | — | -45.9% | — |
| PROK | — | — | 1075.0% | -7725.2% | 6.9% | — |
| FENC | $263M | -22.6 | -6.1% | -21.8% | -69.6% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $62M | $56M | $44M | $32M | $15M | $14M | $19M | $17M | $12M | $9M | $5M | $34.3K | |
| SG&A Expense | $18M | $15M | $12M | $9M | $8M | $6M | $7M | $9M | $8M | $6M | $6M | $5M | |
| Operating Expenses | $80M | $70M | $56M | $42M | $23M | $21M | $26M | $29M | $20M | $15M | $11M | $5M | |
| Operating Income | $-80M | $-70M | $-56M | $-42M | $-23M | $-21M | $-26M | $-29M | $-20M | $-15M | $-11M | $-5M | |
| Interest Expense | · | · | · | · | $375.0K | $0 | $5M | $689.0K | $1.6K | $5.0K | $6.7K | $4M | |
| Interest Income | · | · | · | · | · | · | · | $1.0K | $0 | $965 | $5.0K | $12.2K | |
| Other Non-op | $5M | $2M | $4M | $783.0K | $2M | $188.0K | $-5M | $-1M | $46.9K | $15.7K | $-664.5K | $-5M | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-74M | $-68M | $-52M | $-41M | $-21M | $-20M | $-30M | $-30M | $-20M | $-15M | $-11M | $-10M | |
| EPS (Basic) | $-0.98 | $-1.33 | $-1.01 | $-2.26 | $-2.72 | · | · | · | · | · | · | $-1.04 | |
| EPS (Diluted) | $-0.98 | $-1.33 | $-1.01 | $-2.32 | $-2.72 | · | · | · | · | · | · | $-1.04 | |
| Shares (Basic) | 75,999,290 | 51,466,150 | 51,187,000 | 18,197,000 | 7,671,000 | · | · | · | · | · | · | 9,384,662 | |
| Shares (Diluted) | 75,999,290 | 51,466,150 | 51,187,000 | 19,487,000 | 7,671,000 | · | · | · | · | · | · | 9,384,662 | |
| EBITDA | $-80M | $-70M | $-56M | $-42M | · | $-21M | $-26M | · | $-20M | $-15M | $-11M | $-5M |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $94M | $70M | $16M | $150M | $41M | $77M | $38M | $2M | $4M | $4M | $5M | $6M | |
| Short-term Investments | $74M | $56M | $86M | · | · | · | · | · | · | · | · | · | |
| Inventory | · | · | · | · | · | · | · | · | · | · | $67.2K | $289.6K | |
| Prepaid Expense | $3M | $2M | $3M | $2M | $946.0K | $563.0K | $571.0K | $362.0K | · | · | · | · | |
| Other Current Assets | · | · | · | · | · | · | · | $361.9K | $442.0K | $430.1K | $387.5K | $83.4K | |
| Current Assets | $171M | $129M | $105M | $152M | $42M | $11M | $12M | $2M | $5M | $4M | $6M | $6M | |
| PP&E (Net) | $72.0K | $103.0K | $139.0K | $16.0K | $29.0K | $33.0K | $44.0K | $368.0K | $5M | $6M | $5M | $337.9K | |
| PP&E (Gross) | $210.0K | $210.0K | $210.0K | $56.0K | $56.0K | $47.0K | $47.0K | $886.0K | $7M | $7M | $5M | $345.7K | |
| Accum. Depreciation | $138.0K | $107.0K | $71.0K | $40.0K | $27.0K | $14.0K | $3.0K | $518.0K | $2M | $879.2K | $136.6K | $7.8K | |
| Intangibles | · | · | · | · | · | $0 | $29.0K | $37.0K | $44.3K | $51.6K | $58.9K | $9.2K | |
| Other Non-current Assets | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Total Assets | $175M | $133M | $124M | $152M | $43M | $11M | $12M | $3M | $11M | $11M | $11M | $7M | |
| Accounts Payable | $6M | $5M | $3M | $1M | $1M | $893.0K | $563.0K | $2M | $951.2K | $2M | $1M | $460.3K | |
| Current Liabilities | $12M | $10M | $5M | $2M | $2M | $3M | $8M | $6M | $2M | $2M | $2M | $964.0K | |
| Capital Leases | $983.0K | $2M | $2M | $80.0K | $187.0K | $165.0K | $0 | · | · | $0 | $23.1K | $0 | |
| Other Non-current Liabilities | · | · | · | · | · | $0 | $121.0K | $216.0K | $304.6K | $400.0K | $480.5K | $33.9K | |
| Total Liabilities | $13M | $12M | $8M | $3M | $17M | $4M | $10M | $6M | $2M | $2M | $2M | $997.9K | |
| Long-term Debt | · | · | · | · | $14M | $0 | $0 | $3M | · | · | · | · | |
| Common Stock | $87.0K | $53.0K | $37.0K | $34.0K | $8.0K | $6.0K | $4.0K | $62.0K | $49.2K | $35.1K | $24.3K | $18.1K | |
| Paid-in Capital | $566M | $450M | $377M | $359M | $194M | $155M | $129M | $90M | $73M | $53M | $38M | $24M | |
| Retained Earnings | $-404M | $-329M | $-261M | $-209M | $-168M | $-147M | $-127M | $-94M | $-64M | $-44M | $-29M | $-18M | |
| AOCI | $-7.0K | $-79.0K | $-351.0K | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $162M | $121M | $116M | $149M | $26M | $7M | $2M | $-4M | $9M | $9M | $9M | $6M | |
| Liabilities + Equity | $175M | $133M | $124M | $152M | $43M | $11M | $12M | $3M | $11M | $11M | $11M | $7M | |
| Shares Outstanding | 86,995,985 | 53,245,824 | 36,827,000 | 33,582,000 | 8,352,000 | 5,867,000 | 4,208,000 | 62,166 | 49,228,640 | 35,110,916 | 24,338,219 | 18,091,792 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $31.0K | $36.0K | $30.0K | $13.0K | $13.0K | $18.0K | $49.0K | $1M | · | · | · | $11.3K | |
| Stock-based Comp | $7M | $7M | $7M | $4M | $4M | $3M | $3M | $5M | $6M | $4M | $3M | $1M | |
| Deferred Tax | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | |
| Amort. of Intangibles | · | · | · | · | · | $7.0K | $7.0K | $7.0K | $7.3K | $7.3K | $5.3K | $3.5K | |
| Restructuring | · | · | · | · | $201.0K | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-69M | $-57M | $-44M | $-40M | $-20M | $-24M | $-15M | $-14M | $-13M | $-10M | $-7M | $-3M | |
| CapEx | · | · | $153.0K | · | · | $0 | $47.0K | $6.0K | · | · | · | · | |
| Investing Cash Flow | $-15M | $49M | $-101M | · | $0 | $0 | $231.0K | $2M | $-195.4K | · | · | · | |
| Stock Issued | · | · | · | · | $0 | $24M | $0 | $4M | · | · | · | · | |
| Stock Repurchased | · | $3.0K | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-3.0K | · | · | · | $24M | $0 | · | · | · | · | · | |
| Financing Cash Flow | $107M | $63M | $12M | $149M | $52M | $23M | $25M | $10M | $14M | · | · | · | |
| Net Change in Cash | $24M | $54M | $-134M | $109M | $31M | $-2M | $10M | · | · | · | · | · | |
| Free Cash Flow | · | · | $-45M | · | · | $-24M | $-15M | · | · | · | · | · |
Profitability 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -48.3% | -53.4% | -37.5% | -42.1% | · | -175.2% | -412.7% | · | -188.3% | -134.8% | -121.7% | -228.7% | |
| ROE | -56.9% | -71.4% | -42.5% | -40.8% | · | -229.9% | -951.1% | · | -234.4% | -167.6% | -147.0% | -867.0% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 14.4 | 13.4 | 20.2 | 61.8 | · | 3.3 | 1.4 | · | 2.8 | 2.6 | 3.6 | 6.5 | |
| Quick Ratio | 14.1 | 13.2 | 19.6 | 61.1 | · | 3.1 | 1.4 | · | 2.5 | 2.3 | 3.1 | 6.2 | |
| Interest Coverage | · | · | · | · | · | · | -5.2 | · | -12742.3 | -2967.1 | -1589.8 | -1.2 |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-74M | $-68M | $-52M | $-41M | $-21M | $-20M | $-30M | $-30M | $-20M | $-15M | $-11M | $-10M | |
| Market Cap | $388M | $229M | $73M | $108M | · | $27M | $2M | · | $2.78B | $1.76B | $2.37B | $2.47B | |
| P/E | -4.6 | -3.2 | -2.0 | -1.4 | -5.2 | · | · | · | · | · | · | -131.2 | |
| P/B | 2.4 | 1.9 | 0.6 | 0.7 | · | 3.7 | 1.2 | · | 326.2 | 200.1 | 262.1 | 385.5 | |
| P / Tangible Book | 2.4 | 1.9 | 0.6 | 0.7 | 4.6 | 3.7 | · | · | · | · | · | · | |
| P / Cash Flow | -5.6 | -4.0 | -1.6 | -2.7 | · | -1.1 | -0.1 | · | -208.9 | -167.4 | -335.2 | -779.7 | |
| P / FCF | · | · | -1.6 | · | · | -1.1 | -0.1 | · | · | · | · | · | |
| Earnings Yield | -22.0% | -30.9% | -51.0% | -71.8% | -19.1% | · | · | · | · | · | · | -0.76% |
Income Statement 11
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $11M | $14M | $13M | $21M | $15M | $13M | $13M | $19M | $12M | $12M | $12M | $11M | $14M | $11M | $8M | $9M | |
| SG&A Expense | $6M | $10M | $7M | $5M | $5M | $4M | $4M | $4M | $4M | $3M | $4M | $3M | $3M | $3M | $3M | $3M | |
| Operating Expenses | $17M | $24M | $20M | $26M | $20M | $17M | $17M | $23M | $16M | $15M | $16M | $14M | $17M | $14M | $10M | $11M | |
| Operating Income | $-17M | $-24M | $-20M | $-26M | $-20M | $-17M | $-17M | $-23M | $-16M | $-15M | $-16M | $-14M | $-17M | $-14M | $-10M | $-11M | |
| Other Non-op | $1M | $1M | $2M | $1M | $1M | $1M | $2M | $126.0K | $-837.0K | $1M | $1M | $2M | $1M | $836.0K | $387.0K | $2M | |
| Net Income | $-16M | $-23M | $-18M | $-24M | $-19M | $-16M | $-15M | $-23M | $-17M | $-14M | $-15M | $-13M | $-16M | $-14M | $-10M | $-9M | |
| EPS (Basic) | $-0.16 | $-0.22 | $-0.18 | $-0.27 | $-0.27 | $-0.22 | $-0.22 | $-0.44 | $-0.34 | $-0.27 | $-0.28 | $-0.26 | $-0.30 | $-0.26 | $-0.19 | $0.11 | |
| EPS (Diluted) | $-0.16 | $-0.22 | $-0.18 | $-0.27 | $-0.27 | $-0.22 | $-0.22 | $-0.44 | $-0.34 | $-0.27 | $-0.28 | $-0.26 | $-0.30 | $-0.26 | $-0.19 | $0.05 | |
| Shares (Basic) | 104,040,292 | 103,687,064 | 103,422,647 | -133,708,220 | 70,031,041 | 69,940,319 | 69,736,150 | -102,163,182 | 50,812,332 | 51,408,000 | 51,409,000 | -102,160,000 | 51,409,000 | 51,410,000 | 50,528,000 | -23,214,000 | |
| Shares (Diluted) | 104,040,292 | 103,687,064 | 103,422,647 | -133,708,220 | 70,031,041 | 69,940,319 | 69,736,150 | -102,163,182 | 50,812,332 | 51,408,000 | 51,409,000 | -102,160,000 | 51,409,000 | 51,410,000 | 50,528,000 | -21,924,000 | |
| EBITDA | $-17M | $-24M | $-20M | · | $-20M | $-17M | $-17M | · | $-16M | $-15M | $-16M | · | $-17M | $-14M | $-10M | · |
Balance Sheet 19
| 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 | $12M | $9M | $94M | $15M | $9M | $10M | $70M | $6M | $13M | $8M | $16M | $34M | $147M | $154M | $150M | |
| Short-term Investments | $109M | $121M | $143M | $74M | $72M | $88M | $98M | $56M | $74M | $80M | $91M | $86M | $69M | · | · | · | |
| Prepaid Expense | $2M | $2M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $3M | $4M | $3M | $2M | $860.0K | $1M | $2M | |
| Current Assets | $122M | $135M | $155M | $171M | $89M | $99M | $110M | $129M | $82M | $96M | $103M | $105M | $106M | $148M | $156M | $152M | |
| PP&E (Net) | $49.0K | $57.0K | $64.0K | $72.0K | $80.0K | $87.0K | $95.0K | $103.0K | $110.0K | $119.0K | $129.0K | $139.0K | $149.0K | $160.0K | $83.0K | $16.0K | |
| PP&E (Gross) | · | · | · | $210.0K | · | · | · | $210.0K | · | · | · | $210.0K | · | · | · | $56.0K | |
| Accum. Depreciation | · | · | · | $138.0K | · | · | · | $107.0K | · | · | · | $71.0K | · | · | · | $40.0K | |
| Total Assets | $125M | $139M | $159M | $175M | $95M | $112M | $123M | $133M | $88M | $102M | $113M | $124M | $134M | $150M | $156M | $152M | |
| Accounts Payable | $3M | $4M | $3M | $6M | $7M | $3M | $2M | $5M | $3M | $4M | $2M | $3M | $3M | $3M | $1M | $1M | |
| Current Liabilities | $8M | $10M | $10M | $12M | $11M | $11M | $8M | $10M | $7M | $8M | $7M | $5M | $4M | $6M | $2M | $2M | |
| Capital Leases | $438.0K | $619.0K | $804.0K | $983.0K | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $49.0K | $80.0K | |
| Total Liabilities | $9M | $11M | $11M | $13M | $12M | $12M | $10M | $12M | $17M | $10M | $9M | $8M | $7M | $9M | $3M | $3M | |
| Common Stock | $96.0K | $96.0K | $91.0K | $87.0K | $61.0K | $61.0K | $55.0K | $53.0K | $40.0K | $40.0K | $37.0K | $37.0K | $37.0K | $37.0K | $37.0K | $34.0K | |
| Paid-in Capital | $578M | $573M | $569M | $566M | $462M | $460M | $458M | $450M | $377M | $381M | $379M | $377M | $376M | $374M | $372M | $359M | |
| Retained Earnings | $-461M | $-445M | $-422M | $-404M | $-379M | $-361M | $-345M | $-329M | $-306M | $-289M | $-276M | $-261M | $-248M | $-233M | $-219M | $-209M | |
| AOCI | $-115.0K | $47.0K | $49.0K | $-7.0K | $43.0K | $64.0K | $289.0K | $-79.0K | $-78.0K | $-48.0K | $-284.0K | $-351.0K | $-132.0K | · | · | · | |
| Stockholders' Equity | $117M | $128M | $147M | $162M | $83M | $100M | $113M | $121M | $71M | $92M | $104M | $116M | $127M | $141M | $153M | $149M | |
| Liabilities + Equity | $125M | $139M | $159M | $175M | $95M | $112M | $123M | $133M | $88M | $102M | $113M | $124M | $134M | $150M | $156M | $152M | |
| Shares Outstanding | 96,292,331 | 95,547,998 | 91,036,700 | 86,995,985 | 60,542,914 | 60,535,000 | 55,394,000 | 53,245,824 | 40,132,000 | 39,625,000 | 36,827,000 | 36,827,000 | 36,827,000 | 36,827,000 | 36,827,000 | 33,582,000 |
Cash Flow 9
| 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 | $8.0K | $7.0K | $8.0K | $8.0K | $7.0K | $8.0K | $8.0K | $7.0K | $9.0K | $10.0K | $10.0K | $9.0K | $11.0K | $7.0K | $3.0K | $3.0K | |
| Stock-based Comp | $4M | $3M | $3M | $2M | $2M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $984.0K | |
| Operating Cash Flow | $-14M | $-20M | $-17M | $-22M | $-17M | $-14M | $-16M | $-19M | $-15M | $-13M | $-11M | $-11M | $-18M | $-7M | $-8M | $-12M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $83.0K | $70.0K | · | |
| Investing Cash Flow | $12M | $23M | $-68M | $346.0K | $23M | $11M | $-49M | $20M | $9M | $18M | $3M | $-6M | $-95M | $-83.0K | $-70.0K | · | |
| Stock Repurchased | · | · | · | · | · | · | · | $0 | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $747.0K | $356.0K | $911.0K | $101M | $10.0K | $657.0K | $6M | $63M | $-3.0K | · | · | $0 | $0 | $0 | $12M | $94M | |
| Net Change in Cash | $-708.0K | $3M | $-85M | $80M | $6M | $-2M | $-60M | $64M | $-7M | $4M | $-8M | $-18M | $-113M | $-8M | $4M | $82M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $-8M | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -14.7% | -18.2% | -12.9% | · | -20.7% | -14.7% | -13.0% | · | -15.4% | -11.0% | -10.8% | · | -15.4% | -11.6% | -10.1% | · | |
| ROE | -16.2% | -20.0% | -13.9% | · | -24.6% | -16.4% | -14.2% | · | -17.2% | -11.9% | -11.3% | · | -17.5% | -13.3% | -11.3% | · |
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 | 15.8 | 14.2 | 15.2 | · | 8.4 | 9.3 | 13.8 | · | 11.8 | 12.0 | 14.3 | · | 24.1 | 23.4 | 64.1 | · | |
| Quick Ratio | 15.6 | 14.0 | 14.9 | · | 8.3 | 9.1 | 13.5 | · | 11.5 | 11.6 | 13.7 | · | 23.5 | 23.2 | 63.5 | · |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-76M | $-76M | $-68M | · | $-67M | $-62M | $-61M | · | $-61M | $-58M | $-54M | · | $-50M | $-47M | $-41M | · | |
| Market Cap | $294M | $225M | $856M | · | $176M | $297M | $269M | · | $102M | $39M | $49M | · | $71M | $76M | $101M | · | |
| P/E | -3.7 | -2.7 | -10.6 | · | -2.8 | -4.7 | -4.4 | · | -2.1 | -0.9 | -1.3 | · | -1.4 | -1.1 | -1.1 | · | |
| P/B | 2.5 | 1.8 | 5.8 | · | 2.1 | 3.0 | 2.4 | · | 1.4 | 0.4 | 0.5 | · | 0.6 | 0.5 | 0.7 | · | |
| P / Tangible Book | 2.5 | 1.8 | 5.8 | · | 2.1 | 3.0 | 2.4 | · | 1.4 | 0.4 | 0.5 | · | 0.6 | 0.5 | 0.7 | · | |
| P / Cash Flow | · | · | -49.1 | · | · | · | -16.8 | · | · | · | -4.6 | · | · | · | -13.3 | · | |
| P / FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | · | -13.2 | · | |
| Earnings Yield | -27.2% | -37.7% | -9.5% | · | -36.2% | -21.4% | -22.9% | · | -46.7% | -111.8% | -78.0% | · | -72.9% | -91.8% | -93.4% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | |
|---|---|---|---|---|---|
| Net Income | $-74M | $-68M | $-52M | $-41M | $-21M |
| Diluted EPS | $-0.98 | $-1.33 | $-1.01 | $-2.32 | $-2.72 |
Balance Sheet
| 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | |
|---|---|---|---|---|---|
| Current Ratio | 14.4 | 13.4 | 20.2 | 61.8 | — |
| Quick Ratio | 14.1 | 13.2 | 19.6 | 61.1 | — |
Cash Flow
| 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | $-45M | — | — |
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Institutional owners (13F) 154 filers · $387.3M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 45 (+14 vs prior Q) | 18 (-17 vs prior Q) | 56 (+15 vs prior Q) | 30 (-7 vs prior Q) | +7.6M |
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 |
|---|---|---|---|---|
| FEDERATED HERMES, INC. | $67,551,427 | 12,990,659 | 17.44% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $49,114,203 | 9,445,039 | 12.68% | Shares |
| Opaleye Management Inc. | $32,760,000 | 6,300,000 | 8.46% | Shares |
| Balyasny Asset Management L.P. | $24,242,603 | 4,662,039 | 6.26% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $19,946,300 | 3,835,827 | 5.15% | Shares |
| Siren, L.L.C. | $17,307,092 | 3,328,287 | 4.47% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $13,320,601 | 2,561,654 | 3.44% | Shares |
| JENNISON ASSOCIATES LLC | $12,788,402 | 2,459,308 | 3.30% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $9,683,050 | 1,861,466 | 2.50% | Shares |
| STATE STREET CORP | $9,620,666 | 1,850,128 | 2.48% | Shares |
| D. E. Shaw & Co., Inc. | $9,003,878 | 1,731,515 | 2.32% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,772,960 | 1,494,800 | 2.01% | Call option |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $7,179,879 | 1,380,746 | 1.85% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $6,352,726 | 1,221,678 | 1.64% | Shares |
| Blackstone Inc. | $5,631,220 | 1,082,927 | 1.45% | Shares |
| Affinity Asset Advisors, LLC | $5,200,000 | 1,000,000 | 1.34% | Shares |
| GREAT POINT PARTNERS LLC | $4,949,407 | 951,809 | 1.28% | Shares |
| Ikarian Capital, LLC | $4,862,062 | 935,012 | 1.26% | Shares |
| Squadron Capital Management LLC | $4,680,000 | 900,000 | 1.21% | Call option |
| DIMENSIONAL FUND ADVISORS LP | $4,270,120 | 821,177 | 1.10% | Shares |
| 22NW, LP | $4,267,396 | 820,653 | 1.10% | Shares |
| GOLDMAN SACHS GROUP INC | $4,132,430 | 794,698 | 1.07% | Shares |
| Velan Capital Investment Management LP | $3,900,000 | 750,000 | 1.01% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $3,762,658 | 723,588 | 0.97% | Shares |
| Woodline Partners LP | $3,181,344 | 611,797 | 0.82% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,969,392 | 571,037 | 0.77% | Shares |
| MILLENNIUM MANAGEMENT LLC | $2,689,617 | 517,234 | 0.69% | Shares |
| J. Goldman & Co LP | $2,602,106 | 500,405 | 0.67% | Shares |
| Integral Health Asset Management, LLC | $2,600,000 | 500,000 | 0.67% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,241,580 | 431,073 | 0.58% | Shares |
| Squadron Capital Management LLC | $2,097,732 | 403,410 | 0.54% | Shares |
| Vestal Point Capital, LP | $1,991,595 | 382,999 | 0.51% | Shares |
| Knott David M Jr | $1,924,000 | 370,000 | 0.50% | Shares |
| BlackRock, Inc. | $1,858,106 | 357,328 | 0.48% | Shares |
| XTX Topco Ltd | $1,839,084 | 353,670 | 0.47% | Shares |
| Driehaus Capital Management LLC | $1,505,499 | 289,519 | 0.39% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,492,166 | 286,955 | 0.39% | Shares |
| Susquehanna Portfolio Strategies, LLC | $1,454,133 | 279,641 | 0.38% | Shares |
| JANE STREET GROUP, LLC | $1,372,171 | 263,879 | 0.35% | Shares |
| Schonfeld Strategic Advisors LLC | $1,371,478 | 263,746 | 0.35% | Shares |
| Point72 Europe (London) LLP | $1,200,759 | 127,740 | 0.31% | Shares |
| FMR LLC | $1,112,368 | 213,917 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $957,320 | 184,100 | 0.25% | Call option |
| Centiva Capital, LP | $822,640 | 158,200 | 0.21% | Call option |
| BARCLAYS PLC | $796,027 | 153,082 | 0.21% | Shares |
| GROUP ONE TRADING LLC | $790,306 | 151,982 | 0.20% | Shares |
| MORGAN STANLEY | $729,352 | 140,260 | 0.19% | Shares |
| PFM Health Sciences, LP | $661,903 | 127,289 | 0.17% | Shares |
| Walleye Capital LLC | $564,481 | 108,554 | 0.15% | Shares |
| Allostery Investments LP | $532,051 | 119,294 | 0.14% | Shares |
| SIMPLEX TRADING, LLC | $526,463 | 101,243 | 0.14% | Shares |
| Caption Management, LLC | $520,000 | 100,000 | 0.13% | Call option |
| CITADEL ADVISORS LLC | $512,148 | 98,490 | 0.13% | Shares |
| ALPS ADVISORS INC | $508,165 | 97,724 | 0.13% | Shares |
| AMERIPRISE FINANCIAL INC | $507,791 | 97,652 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $490,342 | 94,298 | 0.13% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $488,280 | 93,900 | 0.13% | Put option |
| SEI INVESTMENTS CO | $486,070 | 93,475 | 0.13% | Shares |
| Russell Investments Group, Ltd. | $480,065 | 92,320 | 0.12% | Shares |
| Virtus Investment Advisers, LLC | $425,360 | 81,800 | 0.11% | Shares |
| Jain Global LLC | $420,883 | 80,939 | 0.11% | Shares |
| Bank of New York Mellon Corp | $409,500 | 78,750 | 0.11% | Shares |
| NATIXIS | $405,600 | 78,000 | 0.10% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $404,679 | 77,823 | 0.10% | Shares |
| AlphaCentric Advisors LLC | $375,726 | 72,255 | 0.10% | Shares |
| Mariner, LLC | $321,162 | 61,765 | 0.08% | Shares |
| BANK OF AMERICA CORP /DE/ | $292,328 | 56,217 | 0.08% | Shares |
| HSBC HOLDINGS PLC | $277,632 | 53,597 | 0.07% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $266,760 | 51,300 | 0.07% | Shares |
| Integrated Wealth Concepts LLC | $260,764 | 50,147 | 0.07% | Shares |
| ADAR1 Capital Management, LLC | $253,131 | 48,679 | 0.07% | Shares |
| MetLife Investment Management, LLC | $245,476 | 47,207 | 0.06% | Shares |
| ALLIANCEBERNSTEIN L.P. | $208,254 | 68,280 | 0.05% | Shares |
| CITADEL ADVISORS LLC | $208,000 | 40,000 | 0.05% | Put option |
| CANADA PENSION PLAN INVESTMENT BOARD | $205,400 | 39,500 | 0.05% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $187,413 | 36,041 | 0.05% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $185,110 | 35,598 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $182,952 | 35,183 | 0.05% | Shares |
| CWM, LLC | $170,190 | 55,800 | 0.04% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $164,863 | 34,708 | 0.04% | Shares |
| CITIGROUP INC | $164,648 | 31,663 | 0.04% | Shares |
| Invesco Ltd. | $160,800 | 30,923 | 0.04% | Shares |
| IEQ CAPITAL, LLC | $160,087 | 30,786 | 0.04% | Shares |
| Nuveen, LLC | $133,541 | 25,681 | 0.03% | Shares |
| Quadrature Capital Ltd | $131,950 | 25,375 | 0.03% | Shares |
| AMERICAN CENTURY COMPANIES INC | $129,984 | 24,997 | 0.03% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $120,692 | 23,210 | 0.03% | Shares |
| MARSHALL WACE, LLP | $115,705 | 22,251 | 0.03% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $113,963 | 21,916 | 0.03% | Shares |
| Police & Firemen's Retirement System of New Jersey | $113,360 | 21,800 | 0.03% | Shares |
| Rangeley Capital, LLC | $102,180 | 19,650 | 0.03% | Shares |
| EntryPoint Capital, LLC | $101,202 | 19,462 | 0.03% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $97,635 | 18,776 | 0.03% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $90,100 | 17,327 | 0.02% | Shares |
| WINTON GROUP Ltd | $88,400 | 17,000 | 0.02% | Shares |
| VANGUARD GROUP INC | $83,032 | 35,183 | 0.02% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $79,456 | 15,280 | 0.02% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $79,030 | 15,198 | 0.02% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $78,000 | 15,000 | 0.02% | Shares |
| Sequoia Financial Advisors, LLC | $75,130 | 14,448 | 0.02% | Shares |
Company insiders 24 insiders · 9 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Nevan C Elam | CEO | July 2, 2026 F | 605,497 | 1 | 0 | $50,880 |
| Daron Evans | CFO | July 2, 2026 F | 411,400 | 4 | 0 | $108,225 |
| Nir Bar | President and Treasurer | Sept. 4, 2012 S | 0 | 0 | 0 | $0 |
| Brian Kenneth Roberts | Chief Medical Officer | July 2, 2026 F | 293,851 | 1 | 0 | $47,600 |
| Sunil Ratilal Karnawat | Chief Commercial Officer | Dec. 15, 2025 P | 71,542 | 2 | 0 | $19,600 |
| Morgan Fields | Chief Accounting Officer | Oct. 31, 2016 A | — | 0 | 0 | $0 |
| Hoyoung Huh | Chairman, Scientific Adv. Bd. | Oct. 31, 2016 A | 5,057,693 | 0 | 0 | $0 |
| Sankaram Mantripragada | Chief Scientific Officer | April 30, 2014 S | — | 0 | 0 | $0 |
| Guy Turnowski | Secretary | Sept. 4, 2012 S | 0 | 0 | 0 | $0 |
| Wladimir Hogenhuis | Director | Dec. 16, 2025 P | 119,675 | 1 | 0 | $9,548 |
| Philippe Fauchet | Director | Nov. 19, 2025 A | 55,500 | 0 | 0 | $0 |
| Erik Harris | Director | Nov. 19, 2025 A | 21,000 | 0 | 0 | $0 |
| Young-Jin Kim | Director | Nov. 19, 2025 A | 170,950 | 0 | 0 | $0 |
| Nerissa Kreher | Director | Nov. 19, 2025 A | 58,576 | 0 | 0 | $0 |
| Gil M Labrucherie | Director | Nov. 19, 2025 A | 55,500 | 0 | 0 | $0 |
| HANDOK, INC. | Director | July 22, 2022 P | 5,942,617 | 0 | 0 | $0 |
| David F Welch | Director | March 10, 2017 P | 1,811,415 | 0 | 0 | $0 |
| Barry Michael Sherman | Director | Oct. 31, 2016 A | — | 0 | 0 | $0 |
| Steve Howe | Director | April 30, 2014 A | — | 0 | 0 | $0 |
| Genexine Inc. | 10% owner | April 26, 2019 C | 91,300,933 | 0 | 0 | $0 |
| Konus Advisory Group, Inc. | 10% owner | March 31, 2014 J | 5,057,693 | 0 | 0 | $0 |
| Jue Min Chu | 10% owner | Sept. 4, 2012 S | 0 | 0 | 0 | $0 |
| KAEYO INVESTMENTS LTD | 10% owner | Sept. 4, 2012 S | 0 | 0 | 0 | $0 |
| Orit Wolkin | 10% owner | Sept. 4, 2012 S | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 13 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 |
|---|---|---|---|---|---|
| Genexine, Inc. ×2 filings | May 3, 2023 | — | Initial filing | — | SEC |
| Handok, Inc. | March 31, 2020 | — | Initial filing | — | SEC |
| Steve Howe | Jan. 24, 2014 | — | Initial filing | — | SEC |
| Theodore Kalem | Feb. 11, 2013 | — | Initial filing | Passive investment | SEC |
| Konus Advisory Group, Inc., Hoyoung Huh, Nevan Elam | Feb. 8, 2013 | — | Initial filing | Passive investment | SEC |
| Sankaram Mantripragada ×2 filings | Feb. 8, 2013 | — | Initial filing | Passive investment | SEC |
| Nickolay Kukekov | Feb. 8, 2013 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Sept. 14, 2012 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Sept. 14, 2012 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Sept. 14, 2012 | — | Initial filing | — | SEC |
| Juemin Chu | Feb. 14, 2012 | — | Initial filing | Passive investment | SEC |
| Orit Wolkin | Feb. 14, 2012 | — | Initial filing | Passive investment | SEC |
| KAEYO Investments Ltd. | Feb. 14, 2012 | — | Initial filing | Passive investment | 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 28 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 |
|---|---|---|---|---|
| BBC · ETFis Series Trust I | 1.31% | 153,338 NS | April 30, 2026 | N-PORT |
| SBIO · ALPS ETF Trust | 0.20% | 98,643 NS | May 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.08% | 265,882 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.04% | 117,274 NS | May 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.03% | 130,974 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 630,675 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 59,002 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 2,023,845 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,005,418 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 450,381 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 314,414 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 31,365 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 3,407 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 411,571 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 2,665 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.00% | 95,539 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.00% | 2,692 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 2,499 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 68 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 6,918 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 120,631 SH | Aug. 8, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 5,766 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 6,281 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 14,928 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,744,647 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 10,825 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 5,900 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.00% | 187,511 SH | Aug. 8, 2026 | Daily |