SLDB Solid Biosciences Inc. - Common Stock
SLDB Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
SLDB Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
SLDB Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 8 42.1%
- Buy 10 52.6%
- Hold 1 5.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-17Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.38 | $-0.48 | 0.10% |
| March 31, 2026 | $-0.52 | $-0.44 | -0.08% |
| Dec. 31, 2025 | $-0.53 | $-0.53 | -0.00% |
| Sept. 30, 2025 | $-0.48 | $-0.45 | -0.03% |
| June 30, 2025 | $-0.42 | $-0.51 | 0.09% |
| March 31, 2025 | $-0.59 | $-0.57 | -0.02% |
| Dec. 31, 2024 | $-1.00 | $-0.82 | -0.18% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| SLDB | $445M | -2.8 | — | — | -79.5% | — |
| JANX | $833M | -7.5 | -5.5% | -1136.2% | -11.7% | — |
| CLYM | $191M | -4.5 | — | — | -34.6% | — |
| GERN | $845M | -10.2 | -60.2% | — | -34.4% | — |
| ANNX | $750M | -3.7 | — | — | -100.7% | — |
| OLMA | $2.03B | -13.4 | — | — | -39.4% | — |
| DSGN | $567M | -7.7 | — | — | -32.8% | — |
| CADL | $310M | -7.8 | — | — | -53.7% | — |
| FTH | — | — | — | — | — | — |
| IMMX | $277M | -5.9 | — | — | -59.8% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | $8M | $14M | $0 | $0 | $0 | $0 | |
| R&D Expense | $140M | $96M | $77M | $78M | $59M | $65M | $95M | $58M | $40M | |
| SG&A Expense | $39M | $33M | $28M | $29M | $27M | $22M | $25M | $18M | $15M | |
| Operating Expenses | $179M | $130M | $104M | $115M | $86M | $88M | $119M | $76M | $55M | |
| Operating Income | $-179M | $-130M | $-104M | $-106M | $-72M | $-88M | $-119M | $-76M | $-55M | |
| Interest Income | $10M | $9M | $8M | $3M | $64.0K | $115.0K | $2M | $619.0K | $219.0K | |
| Other Non-op | $824.0K | $652.0K | $1M | $-381.0K | $2.0K | $1.0K | $515.0K | $270.0K | $1M | |
| Pretax Income | $-174M | $-125M | · | · | · | · | · | · | · | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | |
| Net Income | $-174M | $-125M | $-96M | $-86M | $-72M | $-88M | $-117M | $-75M | $-52M | |
| EPS (Basic) | $-1.99 | $-3.06 | $-4.83 | $-10.10 | $-10.14 | $-25.50 | · | · | · | |
| EPS (Diluted) | $-1.99 | $-3.06 | $-4.83 | $-10.10 | $-10.14 | $-25.50 | · | · | · | |
| Shares (Basic) | 87,504,631 | 40,816,694 | 19,884,007 | 8,512,089 | 7,118,024 | 3,462,475 | · | · | · | |
| Shares (Diluted) | 87,504,631 | 40,816,694 | 19,884,007 | 8,512,089 | 7,118,024 | 3,462,475 | · | · | · | |
| EBITDA | $-179M | $-130M | $-104M | $-106M | $-72M | $-88M | · | $-76M | · |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $60M | $80M | $74M | $155M | $119M | $155M | $76M | $86M | $52M | |
| Short-term Investments | · | · | · | · | · | · | · | $36M | $17M | |
| Prepaid Expense | $16M | $8M | $6M | $6M | $15M | $4M | $3M | $6M | $1M | |
| Current Assets | $205M | $157M | $130M | $220M | $223M | $159M | $86M | $129M | $71M | |
| PP&E (Net) | $4M | $5M | $7M | $10M | $6M | $8M | $12M | $10M | $2M | |
| PP&E (Gross) | $18M | $18M | $19M | $21M | $18M | $17M | $16M | $12M | $3M | |
| Accum. Depreciation | $14M | $13M | $13M | $11M | $12M | $9M | $5M | $2M | $504.0K | |
| Other Non-current Assets | $223.0K | $366.0K | $209.0K | $175.0K | $94.0K | $209.0K | $209.0K | $209.0K | · | |
| Total Assets | $233M | $189M | $165M | $260M | $232M | $171M | $103M | $140M | $76M | |
| Accounts Payable | $3M | $4M | $2M | $3M | $4M | $3M | $7M | $4M | $5M | |
| Accrued Liabilities | $19M | $20M | $10M | $17M | $10M | $9M | $9M | $8M | $6M | |
| Current Liabilities | $33M | $30M | $15M | $23M | $24M | $24M | $18M | $12M | $11M | |
| Capital Leases | $19M | $21M | $23M | $24M | $275.0K | $2M | $4M | $859.0K | · | |
| Other Non-current Liabilities | · | · | · | $96.0K | · | $1M | · | $1M | · | |
| Total Liabilities | $53M | $51M | $38M | $49M | $24M | $39M | $23M | $14M | $11M | |
| Common Stock | $79.0K | $40.0K | $20.0K | $20.0K | $7.0K | $87.0K | $48.0K | $35.0K | · | |
| Retained Earnings | $-958M | $-783M | $-659M | $-563M | $-477M | $-405M | $-316M | $-199M | $-124M | |
| AOCI | $52.0K | $47.0K | $15.0K | $-68.0K | $-45.0K | $0 | $1.0K | $-5.0K | $-13.0K | |
| Stockholders' Equity | $180M | $137M | $126M | $212M | $208M | $132M | $80M | $125M | $-59M | |
| Liabilities + Equity | $233M | $189M | $165M | $260M | $232M | $171M | $103M | $140M | $76M | |
| Shares Outstanding | 78,967,888 | 40,468,141 | 20,386,606 | 19,556,732 | 7,356,017 | 84,893,994 | 45,987,571 | 35,432,460 | 0 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $3M | $2M | $3M | $4M | $3M | · | · | |
| Stock-based Comp | $17M | $11M | $8M | $8M | $13M | $12M | $14M | $6M | $5M | |
| Restructuring | · | · | $-63.0K | $7M | · | $2M | · | · | · | |
| Operating Cash Flow | $-156M | $-100M | $-94M | $-98M | $-78M | $-57M | $-93M | $-70M | $-43M | |
| CapEx | $1M | $654.0K | $2M | $3M | $1M | $899.0K | $4M | $8M | $2M | |
| Investing Cash Flow | $-58M | $-16M | $10M | $59M | $-91M | $7M | $25M | $-27M | $10M | |
| Stock Issued | · | · | $3M | $73M | $135M | $113M | $49M | · | · | |
| Net Stock Activity | · | · | $3M | $73M | $135M | $113M | · | · | · | |
| Financing Cash Flow | $194M | $122M | $3M | $75M | $135M | $129M | $58M | $132M | $77M | |
| Net Change in Cash | $-20M | $6M | $-81M | $36M | $-34M | $79M | $-10M | $35M | $44M | |
| Free Cash Flow | $-157M | $-101M | $-96M | $-101M | $-79M | $-57M | · | $-78M | · |
Profitability 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | -1315.2% | -530.5% | · | · | · | · | |
| Net Margin | · | · | · | -1062.3% | -530.0% | · | · | · | · | |
| EBITDA Margin | · | · | · | -1315.2% | -530.5% | · | · | · | · | |
| ROA | -82.8% | -70.5% | -45.2% | -34.9% | -35.8% | -64.3% | · | -69.3% | · | |
| ROE | -79.5% | -82.0% | -70.9% | -48.4% | -33.5% | -114.4% | · | -55.4% | · | |
| ROIC | -99.6% | · | · | · | · | · | · | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.1 | 5.2 | 8.9 | 9.8 | 9.4 | 6.5 | · | 10.3 | · | |
| Quick Ratio | 1.8 | 2.7 | 5.1 | 6.9 | 5.0 | 6.3 | · | 6.9 | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | 0.1 | 0.0 | · | 0.0 | · |
Growth Rates 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | · | · | · | -40.6% | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | $0 | $8M | $14M | $0 | $0 | $0 | $0 | |
| Net Income TTM | $-174M | $-125M | $-96M | $-86M | $-72M | $-88M | $-117M | $-75M | $-52M | |
| Market Cap | $445M | $162M | $125M | $105M | $2.90B | $9.65B | · | $14.24B | · | |
| P/E | -2.8 | -1.3 | -1.3 | -0.5 | -2.6 | -4.5 | · | · | · | |
| P/S | · | · | · | 13.0 | 212.7 | · | · | · | · | |
| P/B | 2.5 | 1.2 | 1.0 | 0.5 | 13.9 | 73.1 | · | 113.8 | · | |
| P / Tangible Book | 2.5 | 1.2 | 1.0 | 0.5 | 13.9 | 73.1 | · | · | · | |
| P / Cash Flow | -2.8 | -1.6 | -1.3 | -1.1 | -37.2 | -170.5 | · | -202.9 | · | |
| P / FCF | -2.8 | -1.6 | -1.3 | -1.0 | -36.6 | -167.9 | · | -182.7 | · | |
| Earnings Yield | -35.3% | -76.5% | -78.7% | -187.7% | -38.6% | -22.4% | · | · | · |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $44M | $46M | $38M | $39M | $32M | $31M | $31M | $27M | $19M | $19M | $15M | $17M | $20M | $25M | $21M | $14M | |
| SG&A Expense | $13M | $11M | $11M | $9M | $9M | $9M | $9M | $8M | $8M | $8M | $7M | $6M | $7M | $7M | $8M | $7M | |
| Operating Expenses | $57M | $57M | $49M | $48M | $42M | $40M | $40M | $35M | $28M | $27M | $22M | $23M | $27M | $32M | $35M | $21M | |
| Operating Income | $-57M | $-57M | $-49M | $-48M | $-42M | $-40M | $-40M | $-35M | $-28M | $-27M | $-22M | $-23M | $-27M | $-32M | $-35M | $-21M | |
| Interest Expense | · | · | · | · | · | · | · | · | $88.0K | $95.0K | · | · | $111.0K | $121.0K | · | · | |
| Interest Income | $3M | $2M | $2M | $3M | $3M | $2M | $2M | $2M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $735.0K | |
| Other Non-op | $214.0K | $157.0K | $219.0K | $210.0K | $207.0K | $188.0K | $199.0K | $211.0K | $239.0K | $3.0K | $270.0K | $278.0K | $265.0K | $282.0K | $-355.0K | $-13.0K | |
| Income Tax | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-55M | $-57M | $-50M | $-46M | $-39M | $-39M | $-43M | $-33M | $-25M | $-24M | $-20M | $-21M | $-25M | $-30M | $-15M | $-20M | |
| EPS (Basic) | $-0.38 | $-0.52 | $-0.50 | $-0.48 | $-0.42 | $-0.59 | $-1.02 | $-0.79 | $-0.61 | $-0.64 | $-0.99 | $-1.05 | $-1.25 | $-1.54 | $-0.69 | $-2.71 | |
| EPS (Diluted) | $-0.38 | $-0.52 | $-0.67 | $-0.48 | $-0.42 | $-0.59 | $-1.02 | $-0.79 | $-0.61 | $-0.64 | $-0.99 | $-1.05 | $-1.25 | $-1.54 | $-0.69 | $-2.71 | |
| Shares (Basic) | 143,688,701 | 109,811,461 | -167,394,706 | 94,417,746 | 94,140,286 | 66,341,305 | -79,716,357 | 41,443,317 | 40,934,361 | 38,155,373 | -39,406,941 | 20,059,641 | 19,663,672 | 19,567,635 | -14,051,736 | 7,532,706 | |
| Shares (Diluted) | 143,688,701 | 109,811,461 | -167,394,706 | 94,417,746 | 94,140,286 | 66,341,305 | -79,716,357 | 41,443,317 | 40,934,361 | 38,155,373 | -39,406,941 | 20,059,641 | 19,663,672 | 19,567,635 | -14,051,736 | 7,532,706 | |
| EBITDA | $-57M | $-57M | · | $-48M | $-42M | $-40M | · | $-35M | $-28M | $-27M | · | $-23M | $-27M | $-32M | · | $-21M |
Balance Sheet 20
| 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 | $159M | $297M | $60M | $61M | $139M | $211M | $80M | $64M | $96M | $118M | $74M | $49M | $92M | $165M | $155M | $49M | |
| Prepaid Expense | $17M | $15M | $16M | $9M | $11M | $6M | $8M | $8M | $7M | $8M | $6M | $5M | $7M | $5M | $6M | $5M | |
| Current Assets | $395M | $397M | $205M | $245M | $279M | $313M | $157M | $179M | $198M | $214M | $130M | $148M | $167M | $191M | $220M | $148M | |
| PP&E (Net) | $4M | $4M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | $6M | $7M | $7M | $7M | $9M | $10M | $6M | |
| PP&E (Gross) | · | · | $18M | · | · | · | $18M | · | · | $19M | $19M | $19M | $19M | $19M | $21M | $16M | |
| Accum. Depreciation | · | · | $14M | · | · | · | $13M | · | · | $13M | $13M | $12M | $12M | $11M | $11M | $9M | |
| Other Non-current Assets | $138.0K | $183.0K | $223.0K | $247.0K | $278.0K | $319.0K | $366.0K | $475.0K | $515.0K | $175.0K | $209.0K | $315.0K | $181.0K | $238.0K | $175.0K | $422.0K | |
| Total Assets | $421M | $423M | $233M | $274M | $308M | $344M | $189M | $212M | $231M | $249M | $165M | $185M | $205M | $230M | $260M | $184M | |
| Accounts Payable | $4M | $6M | $3M | $8M | $5M | $6M | $4M | $3M | $3M | $2M | $2M | $2M | $3M | $6M | $3M | $5M | |
| Accrued Liabilities | $18M | $19M | $19M | $19M | $17M | $15M | $20M | $13M | $10M | $10M | $10M | $11M | $11M | $12M | $17M | $10M | |
| Current Liabilities | $29M | $30M | $33M | $36M | $30M | $29M | $30M | $23M | $15M | $14M | $15M | $16M | $16M | $20M | $23M | $17M | |
| Capital Leases | $18M | $18M | $19M | $20M | $20M | $21M | $21M | $22M | $22M | $23M | $23M | $23M | $24M | $24M | $24M | $24M | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $96.0K | · | |
| Total Liabilities | $47M | $49M | $53M | $56M | $50M | $49M | $51M | $45M | $38M | $38M | $38M | $40M | $41M | $46M | $49M | $41M | |
| Common Stock | $105.0K | $98.0K | $79.0K | $78.0K | $78.0K | $77.0K | $40.0K | $39.0K | $39.0K | $38.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | $8.0K | |
| Retained Earnings | $-1.07B | $-1.01B | $-958M | $-908M | $-862M | $-823M | $-783M | $-741M | $-708M | $-683M | $-659M | $-638M | $-617M | $-593M | $-563M | $-548M | |
| AOCI | $-113.0K | $-13.0K | $52.0K | $48.0K | $-38.0K | $2.0K | $47.0K | $116.0K | $-15.0K | $-4.0K | $15.0K | $2.0K | $14.0K | $5.0K | $-68.0K | $-196.0K | |
| Stockholders' Equity | $374M | $374M | $180M | $218M | $258M | $294M | $137M | $167M | $193M | $211M | $126M | $144M | $164M | $184M | $212M | $143M | |
| Liabilities + Equity | $421M | $423M | $233M | $274M | $308M | $344M | $189M | $212M | $231M | $249M | $165M | $185M | $205M | $230M | $260M | $184M | |
| Shares Outstanding | 105,125,366 | 98,394,720 | 78,967,888 | 77,882,685 | 77,602,741 | 77,492,959 | 40,468,141 | 38,930,203 | 38,551,059 | 37,833,689 | 20,386,606 | 20,061,751 | 20,044,389 | 19,573,132 | 19,556,732 | 7,533,081 |
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 | $391.0K | $395.0K | $467.0K | $376.0K | $386.0K | $407.0K | $488.0K | $405.0K | $1M | $327.0K | · | · | · | · | · | · | |
| Stock-based Comp | $6M | $5M | $6M | $4M | $3M | $3M | $4M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $-63.0K | · | $6M | $0 | |
| Operating Cash Flow | $-53M | $-47M | $-54M | $-33M | $-37M | $-32M | $-30M | $-24M | $-21M | $-25M | $-21M | $-18M | $-27M | $-28M | $-34M | $-20M | |
| CapEx | $150.0K | $165.0K | $565.0K | $85.0K | $377.0K | $126.0K | $204.0K | $15.0K | $286.0K | $149.0K | $90.0K | $383.0K | $536.0K | $506.0K | $856.0K | $839.0K | |
| Investing Cash Flow | $-134M | $45M | $47M | $-45M | $-33M | $-27M | $39M | $-11M | $-5M | $-38M | $45M | $-25M | $-48M | $37M | $66M | $15M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | · | · | |
| Financing Cash Flow | $48M | $239M | $5M | $1M | $-2M | $190M | $7M | $3M | $5M | $107M | $505.0K | $0 | · | · | $75M | $-1.0K | |
| Net Change in Cash | $-138M | $237M | $-1M | $-78M | $-72M | $130M | $16M | $-31M | $-22M | $44M | $25M | $-43M | $-73M | $9M | $106M | $-6M | |
| Free Cash Flow | · | $-47M | · | · | · | $-32M | · | · | · | $-25M | · | · | · | $-29M | · | · |
Profitability 2
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -15.0% | -14.8% | · | -18.9% | -14.6% | -13.3% | · | -16.5% | -11.5% | -10.2% | · | -11.4% | -11.9% | -13.8% | · | -9.4% | |
| ROE | -17.3% | -17.0% | · | -23.8% | -17.5% | -15.6% | · | -21.0% | -14.1% | -12.3% | · | -14.6% | -15.1% | -16.3% | · | -11.1% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 13.8 | 13.1 | · | 6.7 | 9.3 | 10.9 | · | 7.9 | 13.5 | 14.9 | · | 9.4 | 10.6 | 9.4 | · | 8.7 | |
| Quick Ratio | 5.6 | 9.8 | · | 1.7 | 4.7 | 7.3 | · | 2.8 | 6.5 | 8.2 | · | 3.1 | 5.8 | 8.1 | · | 2.9 | |
| Interest Coverage | · | · | · | · | · | · | · | · | -315.8 | -282.8 | · | · | · | · | · | · |
Valuation (TTM) 9
| 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 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Net Income TTM | $-197M | $-181M | · | $-157M | $-137M | $-121M | · | $-103M | $-95M | $-100M | · | $-96M | $-100M | $-101M | · | $-89M | |
| Market Cap | $1.05B | $708M | · | $481M | $378M | $287M | · | $271M | $219M | $504M | · | $51M | $105M | $93M | · | $53M | |
| P/E | -5.5 | -3.6 | · | -2.9 | -2.2 | -1.5 | · | -2.3 | -1.6 | -3.0 | · | -0.4 | -0.6 | -0.4 | · | -0.6 | |
| P/B | 2.8 | 1.9 | · | 2.2 | 1.5 | 1.0 | · | 1.6 | 1.1 | 2.4 | · | 0.4 | 0.6 | 0.5 | · | 0.4 | |
| P / Tangible Book | 2.8 | 1.9 | · | 2.2 | 1.5 | 1.0 | · | 1.6 | 1.1 | 2.4 | · | 0.4 | 0.6 | 0.5 | · | 0.4 | |
| P / Cash Flow | · | -15.0 | · | · | · | -9.0 | · | · | · | -20.0 | · | · | · | -3.3 | · | · | |
| P / FCF | · | -14.9 | · | · | · | -9.0 | · | · | · | -19.9 | · | · | · | -3.3 | · | · | |
| Earnings Yield | -18.0% | -27.9% | · | -34.2% | -46.0% | -66.5% | · | -44.3% | -62.6% | -33.6% | · | -259.9% | -168.5% | -231.0% | · | -168.6% |
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 | — | — | — | $8M | $14M |
| Operating Margin % | — | — | — | -1315.2% | -530.5% |
| Net Income | $-174M | $-125M | $-96M | $-86M | $-72M |
| Diluted EPS | $-1.99 | $-3.06 | $-4.83 | $-10.10 | $-10.14 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 6.1 | 5.2 | 8.9 | 9.8 | 9.4 |
| Quick Ratio | 1.8 | 2.7 | 5.1 | 6.9 | 5.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-157M | $-101M | $-96M | $-101M | $-79M |
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Institutional owners (13F) 167 filers · $974.0M 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 44 (+7 vs prior Q) | 25 (+13 vs prior Q) | 53 (0 vs prior Q) | 39 (-1 vs prior Q) | +6.6M |
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 |
|---|---|---|---|---|
| RA CAPITAL MANAGEMENT, L.P. | $120,240,899 | 12,036,126 | 12.34% | Shares |
| PERCEPTIVE ADVISORS LLC | $118,947,393 | 11,906,646 | 12.21% | Shares |
| Bain Capital Life Sciences Investors, LLC | $97,990,102 | 9,808,819 | 10.06% | Shares |
| Siren, L.L.C. | $76,827,146 | 7,690,405 | 7.89% | Shares |
| FMR LLC | $46,864,419 | 4,691,133 | 4.81% | Shares |
| ARMISTICE CAPITAL, LLC | $42,737,220 | 4,278,000 | 4.39% | Shares |
| STATE STREET CORP | $41,711,896 | 4,175,365 | 4.28% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $40,059,121 | 4,009,922 | 4.11% | Shares |
| RTW INVESTMENTS, LP | $38,890,331 | 3,892,926 | 3.99% | Shares |
| Deep Track Capital, LP | $35,614,969 | 3,565,062 | 3.66% | Shares |
| JANUS HENDERSON GROUP PLC | $28,877,004 | 4,010,695 | 2.96% | Shares |
| CITADEL ADVISORS LLC | $24,560,285 | 2,458,487 | 2.52% | Shares |
| Alyeska Investment Group, L.P. | $22,782,035 | 2,280,484 | 2.34% | Shares |
| Vestal Point Capital, LP | $21,578,400 | 2,160,000 | 2.22% | Shares |
| AMERIPRISE FINANCIAL INC | $20,575,205 | 2,059,578 | 2.11% | Shares |
| Redmile Group, LLC | $19,467,463 | 1,948,695 | 2.00% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $16,645,589 | 1,665,937 | 1.71% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $15,049,995 | 1,506,506 | 1.55% | Shares |
| GOLDMAN SACHS GROUP INC | $14,106,819 | 1,412,094 | 1.45% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $11,524,834 | 1,153,637 | 1.18% | Shares |
| BLAIR WILLIAM & CO/IL | $7,555,207 | 756,277 | 0.78% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $7,478,404 | 748,589 | 0.77% | Shares |
| Woodline Partners LP | $6,734,019 | 674,076 | 0.69% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $6,677,816 | 668,450 | 0.69% | Shares |
| Birchview Capital, LP | $6,655,298 | 666,196 | 0.68% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $6,028,685 | 603,472 | 0.62% | Shares |
| Monashee Investment Management LLC | $4,995,000 | 500,000 | 0.51% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,942,353 | 494,730 | 0.51% | Shares |
| Point72 Asset Management, L.P. | $4,475,600 | 448,008 | 0.46% | Shares |
| STEMPOINT CAPITAL LP | $3,584,212 | 358,780 | 0.37% | Shares |
| Boxer Capital Management, LLC | $2,997,000 | 300,000 | 0.31% | Shares |
| Ally Bridge Group (NY) LLC | $2,557,030 | 255,959 | 0.26% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,441,566 | 244,401 | 0.25% | Shares |
| J. Goldman & Co LP | $2,419,218 | 242,164 | 0.25% | Shares |
| D. E. Shaw & Co., Inc. | $2,225,662 | 222,789 | 0.23% | Shares |
| BANK OF AMERICA CORP /DE/ | $2,040,777 | 204,282 | 0.21% | Shares |
| UBS Group AG | $1,881,587 | 188,347 | 0.19% | Shares |
| ALGERT GLOBAL LLC | $1,872,316 | 187,419 | 0.19% | Shares |
| Balyasny Asset Management L.P. | $1,780,747 | 178,253 | 0.18% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,628,740 | 163,037 | 0.17% | Shares |
| Apis Capital Advisors, LLC | $1,598,400 | 160,000 | 0.16% | Shares |
| Soleus Capital Management, L.P. | $1,498,500 | 150,000 | 0.15% | Shares |
| CITIGROUP INC | $1,437,471 | 143,891 | 0.15% | Shares |
| Qube Research & Technologies Ltd | $1,367,661 | 136,903 | 0.14% | Shares |
| BlackRock, Inc. | $1,293,865 | 129,516 | 0.13% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,097,761 | 109,886 | 0.11% | Shares |
| Bank of New York Mellon Corp | $1,081,707 | 108,279 | 0.11% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,081,038 | 108,212 | 0.11% | Shares |
| Susquehanna Portfolio Strategies, LLC | $1,071,717 | 107,279 | 0.11% | Shares |
| RHUMBLINE ADVISERS | $1,049,627 | 105,068 | 0.11% | Shares |
| Fisher Asset Management, LLC | $1,033,775 | 103,481 | 0.11% | Shares |
| GOLDMAN SACHS GROUP INC | $999,000 | 100,000 | 0.10% | Call option |
| ALPS ADVISORS INC | $998,161 | 99,916 | 0.10% | Shares |
| XTX Topco Ltd | $889,450 | 89,034 | 0.09% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $820,179 | 82,100 | 0.08% | Shares |
| Verition Fund Management LLC | $811,937 | 81,275 | 0.08% | Shares |
| Quadrature Capital Ltd | $782,117 | 78,290 | 0.08% | Shares |
| Quantum Private Wealth, LLC | $738,241 | 73,898 | 0.08% | Shares |
| Rafferty Asset Management, LLC | $717,072 | 71,779 | 0.07% | Shares |
| Trexquant Investment LP | $690,589 | 69,128 | 0.07% | Shares |
| AMERICAN CENTURY COMPANIES INC | $621,488 | 62,211 | 0.06% | Shares |
| JANE STREET GROUP, LLC | $617,242 | 61,786 | 0.06% | Shares |
| TWO SIGMA INVESTMENTS, LP | $606,443 | 60,705 | 0.06% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $586,313 | 58,690 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $585,324 | 58,591 | 0.06% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $575,604 | 57,618 | 0.06% | Shares |
| Knott David M Jr | $561,518 | 56,208 | 0.06% | Shares |
| BARCLAYS PLC | $552,167 | 55,272 | 0.06% | Shares |
| ALLIANCEBERNSTEIN L.P. | $498,672 | 69,260 | 0.05% | Shares |
| BANK OF NOVA SCOTIA | $471,538 | 47,201 | 0.05% | Shares |
| MetLife Investment Management, LLC | $461,108 | 46,157 | 0.05% | Shares |
| Virtus Investment Advisers, LLC | $457,802 | 45,826 | 0.05% | Shares |
| DeepCurrents Investment Group LLC | $447,832 | 44,828 | 0.05% | Shares |
| Ikarian Capital, LLC | $429,130 | 42,956 | 0.04% | Shares |
| Quantinno Capital Management LP | $400,999 | 40,140 | 0.04% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $373,626 | 37,400 | 0.04% | Call option |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $368,831 | 36,920 | 0.04% | Shares |
| PROFUND ADVISORS LLC | $365,065 | 36,543 | 0.04% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $361,998 | 36,236 | 0.04% | Shares |
| Creative Planning | $358,241 | 35,860 | 0.04% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $332,577 | 33,291 | 0.03% | Shares |
| ArchPoint Investors | $312,947 | 31,326 | 0.03% | Shares |
| Invesco Ltd. | $308,891 | 30,920 | 0.03% | Shares |
| CITADEL ADVISORS LLC | $308,691 | 30,900 | 0.03% | Call option |
| Engineers Gate Manager LP | $288,861 | 28,915 | 0.03% | Shares |
| HSBC HOLDINGS PLC | $285,269 | 27,804 | 0.03% | Shares |
| Atom Investors LP | $271,548 | 27,182 | 0.03% | Shares |
| Police & Firemen's Retirement System of New Jersey | $231,868 | 23,210 | 0.02% | Shares |
| SFMG, LLC | $221,308 | 22,153 | 0.02% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $212,218 | 21,243 | 0.02% | Shares |
| VANGUARD GROUP INC | $205,307 | 36,402 | 0.02% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $199,291 | 19,949 | 0.02% | Shares |
| AXQ CAPITAL, LP | $197,193 | 19,739 | 0.02% | Shares |
| CIBC Private Wealth Group LLC | $188,802 | 30,600 | 0.02% | Shares |
| Skopos Labs, Inc. | $185,840 | 25,811 | 0.02% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $169,830 | 17,000 | 0.02% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $162,857 | 16,302 | 0.02% | Shares |
| Lido Advisors, LLC | $159,700 | 15,986 | 0.02% | Shares |
| China Universal Asset Management Co., Ltd. | $156,523 | 15,668 | 0.02% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $156,084 | 15,624 | 0.02% | Shares |
Company insiders 29 insiders · 13 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Alexander Cumbo | President and CEO | Jan. 29, 2026 A | 235,405 | 0 | 4 | $-983,959 |
| Kevin Tan | CFO & Treasurer | Jan. 29, 2026 A | 99,422 | 0 | 4 | $-329,544 |
| Jennifer Lynn Ziolkowski | CFO, Treasurer & Asst. Secy | Jan. 27, 2021 M | 335,636 | 0 | 0 | $0 |
| David T Howton | Chief Operating Officer | Jan. 29, 2026 A | 105,077 | 0 | 4 | $-433,595 |
| Pedro Alvaro Amorrortu | Chief Operating Officer | Jan. 23, 2019 A | 162,746 | 0 | 0 | $0 |
| Gabriel Brooks | Chief Medical Officer | Jan. 29, 2026 A | 89,466 | 0 | 3 | $-280,978 |
| Paul Herzich | Chief Technology Officer | Jan. 29, 2026 A | 72,638 | 0 | 4 | $-274,125 |
| Jessie Hanrahan | Chief Regulatory Officer | Jan. 29, 2026 A | 74,318 | 0 | 4 | $-297,374 |
| Jennifer Marlowe | CSO | Feb. 13, 2024 A | 6,998 | 0 | 0 | $0 |
| Carl Ashley Morris | Chief Scientific Officer | Jan. 27, 2023 M | 19,760 | 0 | 0 | $0 |
| Erin Powers Brennan | Chief Legal Officer, Secretary | May 2, 2022 A | — | 0 | 0 | $0 |
| Lynette Herscha | Chief Legal Officer | July 27, 2020 M | 160,859 | 0 | 0 | $0 |
| Jorge Armando Quiroz | Chief Medical Officer | Jan. 23, 2019 A | 228,092 | 0 | 0 | $0 |
| Ian F Smith | Director | July 2, 2026 M | 138,145 | 0 | 0 | $0 |
| Clare Kahn | Director | June 10, 2026 A | 2,960 | 0 | 0 | $0 |
| Georgia Keresty | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Lynne Marie Sullivan | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Ilan Ganot | Director | June 10, 2026 A | 27,474 | 0 | 5 | $-82,352 |
| Adam Leo Stone | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Martin I Freed | Director | June 10, 2026 A | 53,763 | 0 | 0 | $0 |
| Sukumar Nagendran | Director | June 10, 2026 A | 34,258 | 0 | 0 | $0 |
| Adam Koppel | Director | Jan. 11, 2024 A | 4,034,582 | 0 | 0 | $0 |
| Robert Luther Huffines | Director | Dec. 13, 2022 A | — | 0 | 0 | $0 |
| Rajeev Shah | Director | June 16, 2021 A | 8,709,882 | 0 | 0 | $0 |
| Matthew Bennett Arnold | Director | Dec. 10, 2020 A | 3,933,429 | 0 | 0 | $0 |
| Juan Andrey Zarur | Director | Jan. 2, 2020 A | 10,189 | 0 | 0 | $0 |
| Boxer Capital, LLC | 10% owner | March 28, 2019 S | 3,473,272 | 0 | 0 | $0 |
| Gilad David Hayeem | 10% owner | Aug. 22, 2018 G | 1,948,991 | 0 | 0 | $0 |
| Joel Solomon Zev Schneider | — | March 14, 2022 S | 236,270 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| Perceptive Advisors LLC, Joseph Edelman, Perceptive Life Sciences Master Fund, Ltd., Perceptive Xontogeny Venture Fund, LP ×11 filings | Aug. 14, 2026 | 11.20% | Amendment | — | SEC |
| RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, RA Capital Healthcare Fund, L.P. ×12 filings | June 24, 2026 | 11.90% | Amendment | — | SEC |
| BCLS SB Investco, LP, Bain Capital Life Sciences Fund II, L.P., BCLS II Investco, LP, BCIP Life Sciences Associates, LP, BCLS II Equity Opportunities, LP, Bain Capital Life Sciences Opportunities IV, L.P. ×12 filings | March 10, 2026 | 8.80% | Amendment | — | SEC |
| RA Capital Management, LLC, Peter Kolchinsky ×2 filings | July 30, 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 32 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 |
|---|---|---|---|---|
| IBRN · iShares Trust | 0.69% | 6,132 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.16% | 266,224 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.06% | 5,360 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.05% | 580,274 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.03% | 50,645 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 35,267 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.03% | 2,880 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 96,646 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 370,123 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.02% | 2,011,320 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 350,536 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 452,695 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 41,246 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 263,560 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 2,775 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 773,750 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 163,029 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 2,170 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 18,153 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 2,193 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 2,475 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 7,422 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 2,366 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 55 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 19,273 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 111,913 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 24,332 SH | Aug. 8, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 2,692 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 17,135 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,148,576 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 5,707 SH | Aug. 8, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 957 NS | April 30, 2026 | N-PORT |