SLDB Solid Biosciences Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$6.85
· of 52w range
· above low
· to high
$3.7952w low
$11.4552w high
Market Cap (MRQ)
$720M
P/E
-3.4
EPS
$-1.99
your badges
52W Range
$4–$11
Analyst Rating
BUY
Price Target
$19
P/E
-3.4
ROE
-79.5%
Net Profit Margin
·
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SLDB Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$6.85
Market Cap (MRQ)
$720M
P/E
-3.4
EPS
$-1.99
ROE
-79.5%
52W Range
$4–$11
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Oct. 28, 2022 | 1-for-15 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue·2016-12-31 → 2022-12-31
EPS$-1.992020-12-31 → 2025-12-31
Free Cash Flow$-157M2018-12-31 → 2025-12-31
Net margin·2021-12-31 → 2022-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | SLDB | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -3.45Y avg ≈-1.7 | ≈-1.7 | · | · | |
| P/B (MRQ) | 1.95Y avg ≈3.8 | ≈3.8 | 3.2 | Fair value | |
| Price / FCF (TTM) | -3.85Y avg ≈-8.7 | ≈-8.7 | · | · | |
| Price / Cash Flow (TTM) | -3.95Y avg ≈-8.8 | ≈-8.8 | · | · | |
| Price / Tangible Book | 3.05Y avg ≈3.8 | ≈3.8 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | SLDB | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -82.8%5Y avg ≈-53.8% | ≈-53.8% | -46.1% | Weak | |
| ROE | -79.5%5Y avg ≈-62.9% | ≈-62.9% | -53.7% | Weak | |
| ROIC | -99.6% | · | -34.2% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | SLDB | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 13.85Y avg ≈7.9 | ≈7.9 | 14.4 | In line | |
| Quick Ratio | 1.85Y avg ≈4.3 | ≈4.3 | 6.6 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-1.7%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 10, 2026 | $-0.38 | $-0.48 | 20.4% |
| March 31, 2026 | May 13, 2026 | $-0.52 | $-0.44 | -17.6% |
| Dec. 31, 2025 | $-0.53 | $-0.53 | -0.15% | |
| Sept. 30, 2025 | $-0.48 | $-0.45 | -7.3% | |
| June 30, 2025 | $-0.42 | $-0.51 | 18.3% | |
| March 31, 2025 | $-0.59 | $-0.57 | -4.1% | |
| Dec. 31, 2024 | $-1.00 | $-0.82 | -21.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| 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
| 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
| 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
| 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
| 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | 0.1 | 0.0 | · | 0.0 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $2.28 | $3.39 | $6.20 | $10.82 | $1.89 | $1.56 | · | $3.53 | · | |
| Revenue / Share | · | · | · | $0.95 | · | · | · | · | · | |
| Cash Flow / Share | $-1.79 | $-2.45 | $-4.74 | $-11.51 | · | · | · | · | · | |
| Cash / Share | $0.76 | $1.98 | $3.63 | $7.95 | $1.08 | $1.82 | · | $2.44 | · | |
| EPS (TTM) | $-1.99 | $-3.06 | $-4.83 | $-10.10 | $-10.14 | $-25.50 | · | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | · | · | · | -40.6% | · | · | · | · | · |
Valuation (TTM)
| 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
| 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 | · | 94,417,746 | 94,140,286 | 66,341,305 | · | 41,443,317 | 40,934,361 | 38,155,373 | · | 20,059,641 | 19,663,672 | 19,567,635 | · | 7,532,706 | |
| Shares (Diluted) | 143,688,701 | 109,811,461 | · | 94,417,746 | 94,140,286 | 66,341,305 | · | 41,443,317 | 40,934,361 | 38,155,373 | · | 20,059,641 | 19,663,672 | 19,567,635 | · | 7,532,706 | |
| EBITDA | $-57M | $-57M | · | $-48M | $-42M | $-40M | · | $-35M | $-28M | $-27M | · | $-23M | $-27M | $-32M | · | $-21M |
Balance Sheet
| 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
| 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
| 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
| 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 | · | · | · | · | · | · |
Per Share
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $3.56 | $3.80 | · | $2.80 | $3.33 | $3.80 | · | $4.29 | $5.01 | $5.57 | · | $7.20 | $8.17 | $9.39 | · | $19.02 | |
| Cash Flow / Share | · | $-0.43 | · | · | · | $-0.48 | · | · | · | $-0.66 | · | · | · | $-1.43 | · | · | |
| Cash / Share | $1.52 | $3.02 | · | $0.79 | $1.79 | $2.72 | · | $1.65 | $2.49 | $3.11 | · | $2.44 | $4.57 | $8.41 | · | $6.48 | |
| EPS (TTM) | $-2.05 | $-2.09 | · | $-2.51 | $-2.82 | $-3.01 | · | $-3.03 | $-3.29 | $-3.93 | · | $-4.53 | $-6.19 | $-8.27 | · | $-11.87 |
Valuation (TTM)
| 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 | $-207M | $-192M | · | $-167M | $-154M | $-140M | · | $-102M | $-91M | $-90M | · | $-91M | $-90M | $-91M | · | $-89M | |
| Market Cap | $1.05B | $708M | · | $481M | $378M | $287M | · | $271M | $219M | $504M | · | $51M | $105M | $93M | · | $53M | |
| P/E | -4.9 | -3.4 | · | -2.5 | -1.7 | -1.2 | · | -2.3 | -1.7 | -3.4 | · | -0.6 | -0.8 | -0.6 | · | -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 | · | · | |
| Earnings Yield | -20.5% | -29.0% | · | -40.7% | -57.9% | -81.3% | · | -43.5% | -58.0% | -29.5% | · | -179.8% | -118.1% | -174.5% | · | -169.4% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 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 |
| Metric | 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 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-157M | $-101M | $-96M | $-101M | $-79M |
Institutional owners (13F) 164 filers · $1.2B 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.
Holders
164
Value held
$1.2B
New positions
42
Exited positions
25
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 42 (+4 vs prior Q) | 25 (+13 vs prior Q) | 58 (+2 vs prior Q) | 38 (-2 vs prior Q) | +13.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| RA CAPITAL MANAGEMENT, L.P. | $120,240,899 | 12,036,126 | 10.43% | Shares |
| PERCEPTIVE ADVISORS LLC | $118,947,393 | 11,906,646 | 10.31% | Shares |
| Bain Capital Life Sciences Investors, LLC | $97,990,102 | 9,808,819 | 8.50% | Shares |
| Siren, L.L.C. | $76,827,146 | 7,690,405 | 6.66% | Shares |
| BlackRock, Inc. | $69,273,136 | 6,934,248 | 6.01% | Shares |
| FMR LLC | $68,690,808 | 6,875,957 | 5.96% | Shares |
| ARMISTICE CAPITAL, LLC | $42,737,220 | 4,278,000 | 3.71% | Shares |
| STATE STREET CORP | $41,711,896 | 4,175,365 | 3.62% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $40,059,121 | 4,009,922 | 3.47% | Shares |
| RTW INVESTMENTS, LP | $38,890,331 | 3,892,926 | 3.37% | Shares |
| Deep Track Capital, LP | $35,614,969 | 3,565,062 | 3.09% | Shares |
| FRANKLIN RESOURCES INC | $34,372,673 | 3,440,708 | 2.98% | Shares |
| JANUS HENDERSON GROUP PLC | $28,877,004 | 4,010,695 | 2.50% | Shares |
| CITADEL ADVISORS LLC | $28,123,069 | 2,815,122 | 2.44% | Shares |
| Alyeska Investment Group, L.P. | $22,782,035 | 2,280,484 | 1.98% | Shares |
| AMERIPRISE FINANCIAL INC | $22,235,593 | 2,225,783 | 1.93% | Shares |
| Vestal Point Capital, LP | $21,578,400 | 2,160,000 | 1.87% | Shares |
| VANGUARD GROUP INC | $19,485,969 | 3,454,959 | 1.69% | Shares |
| Redmile Group, LLC | $19,467,463 | 1,948,695 | 1.69% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $19,391,710 | 1,940,824 | 1.68% | Shares |
| GOLDMAN SACHS GROUP INC | $16,013,141 | 1,602,917 | 1.39% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $15,049,995 | 1,506,506 | 1.30% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $12,645,298 | 1,266,290 | 1.10% | Shares |
| BLAIR WILLIAM & CO/IL | $7,555,207 | 756,277 | 0.66% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $7,478,404 | 748,589 | 0.65% | Shares |
| Woodline Partners LP | $6,734,019 | 674,076 | 0.58% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $6,677,816 | 668,450 | 0.58% | Shares |
| Birchview Capital, LP | $6,655,298 | 666,196 | 0.58% | Shares |
| NORTHERN TRUST CORP | $6,030,434 | 603,647 | 0.52% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $6,028,685 | 603,472 | 0.52% | Shares |
| BANK OF AMERICA CORP /DE/ | $5,235,779 | 524,102 | 0.45% | Shares |
| Monashee Investment Management LLC | $4,995,000 | 500,000 | 0.43% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,942,353 | 494,730 | 0.43% | Shares |
| Point72 Asset Management, L.P. | $4,475,600 | 448,008 | 0.39% | Shares |
| STEMPOINT CAPITAL LP | $3,584,212 | 358,780 | 0.31% | Shares |
| Boxer Capital Management, LLC | $2,997,000 | 300,000 | 0.26% | Shares |
| JPMORGAN CHASE & CO | $2,667,443 | 281,673 | 0.23% | Shares |
| Ally Bridge Group (NY) LLC | $2,557,030 | 255,959 | 0.22% | Shares |
| MORGAN STANLEY | $2,549,403 | 255,195 | 0.22% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,441,566 | 244,401 | 0.21% | Shares |
| Bank of New York Mellon Corp | $2,429,105 | 243,154 | 0.21% | Shares |
| J. Goldman & Co LP | $2,419,218 | 242,164 | 0.21% | Shares |
| Nuveen, LLC | $2,414,004 | 241,642 | 0.21% | Shares |
| D. E. Shaw & Co., Inc. | $2,225,662 | 222,789 | 0.19% | Shares |
| UBS Group AG | $1,881,587 | 188,347 | 0.16% | Shares |
| ALGERT GLOBAL LLC | $1,872,316 | 187,419 | 0.16% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $1,851,797 | 185,365 | 0.16% | Shares |
| Balyasny Asset Management L.P. | $1,780,747 | 178,253 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,628,740 | 163,037 | 0.14% | Shares |
| Apis Capital Advisors, LLC | $1,598,400 | 160,000 | 0.14% | Shares |
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 | 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.
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
ETF ownership Held by 29 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 | 0.76% | 43,531 NS | July 31, 2026 | N-PORT |
| IBRN · iShares Trust | 0.74% | 6,132 SH | Sept. 11, 2026 | Daily |
| IWC · iShares Trust | 0.17% | 267,842 SH | Sept. 11, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.14% | 87,747 NS | July 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.05% | 598,147 SH | Sept. 11, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.05% | 7,592 SH | Oct. 1, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.04% | 1,199 NS | July 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.03% | 50,645 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 35,267 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 102,425 SH | Oct. 1, 2026 | Daily |
| IWM · iShares Trust | 0.02% | 2,015,412 SH | Sept. 11, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 359,257 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 37,599 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 452,695 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 41,246 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.02% | 293,621 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 773,750 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 163,029 SH | Aug. 19, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 2,475 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 7,422 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 10,716 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 19,273 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 77,462 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 111,903 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 24,592 SH | Sept. 11, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 20,397 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,148,576 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 5,707 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 371,548 SH | Sept. 11, 2026 | Daily |
SLDB Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 19 analysts
BUY
Median target
$18.00
+162.8%
8 42.1%
Strong Buy
10 52.6%
Buy
1 5.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
13 analysts · 2026-09-28Mean target $18.62 +171.8%
← Below all targets
Current price $6.85
Low$11.00
Mean$18.62
High$26.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| SLDB | $445M | -2.8 | · | · | -79.5% | · |
| DSGN | $567M | -7.7 | · | · | -32.8% | · |
| GERN | $845M | -10.2 | -60.2% | · | -34.4% | · |
| FDMT | $432M | -3.1 | 230194.6% | -164.4% | -30.2% | · |
| GYRE | $645M | 353.0 | 10.2% | 8.5% | 11.7% | · |
| ACHV | · | -4.0 | · | · | · | · |
| FTH | · | · | · | · | · | · |
| VSTM | $600M | -2.6 | 209.1% | -677.6% | -449.2% | · |
| OLMA | $2.03B | -13.4 | · | · | -39.4% | · |
| NVCT | $194M | -5.7 | · | · | -149.9% | · |
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Source: SEC 10-Q filed Aug 6, 2026