SPRO Spero Therapeutics, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 12, 2026
$1.19
· of 52w range
· above low
· to high
$1.0852w low
$3.0852w high
Market Cap (MRQ)
$69M
P/E (TTM)
8.5
EPS (TTM)
$0.14
Revenue (TTM)
$47M
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52W Range
$1–$3
Analyst Rating
HOLD
Price Target
$5
P/E
8.5
ROE
19.2%
Net Profit Margin
15.7%
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SPRO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.19
Market Cap (MRQ)
$69M
P/E (TTM)
8.5
EPS (TTM)
$0.14
Revenue (TTM)
$47M
ROE (TTM)
19.2%
52W Range
$1–$3
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$67M2016-12-31 → 2025-12-31
EPS$0.152021-12-31 → 2025-12-31
Free Cash Flow·2017-12-31 → 2019-12-31
Net margin15.7%2018-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | SPRO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 8.55Y avg ≈2.2 | ≈2.2 | · | · | |
| P/S (TTM) | 1.55Y avg ≈6.8 | ≈6.8 | 118.2 | Undervalued | |
| P/B (MRQ) | 1.65Y avg ≈2.2 | ≈2.2 | 1.7 | Overvalued | |
| Price / Cash Flow | -5.35Y avg ≈-7.0 | ≈-7.0 | · | · | |
| Price / Tangible Book | 1.15Y avg ≈2.2 | ≈2.2 | · | · |
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 | SPRO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 12.8%5Y avg ≈-136.7% | ≈-136.7% | -2921.7% | In line | |
| EBITDA Margin | 9.4%5Y avg ≈-135.6% | ≈-135.6% | -2921.7% | In line | |
| Pretax Margin | 13.2%5Y avg ≈-136.7% | ≈-136.7% | -169.2% | Top tier | |
| Net Profit Margin (TTM) | 15.7%5Y avg ≈-137.3% | ≈-137.3% | -2791.9% | In line | |
| ROA (TTM) | 12.9%5Y avg ≈-21.8% | ≈-21.8% | -44.8% | Top tier | |
| ROE (TTM) | 19.2%5Y avg ≈-50.2% | ≈-50.2% | -49.6% | Top tier | |
| ROIC | 10.4%5Y avg ≈-57.2% | ≈-57.2% | -37.6% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | SPRO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 6.15Y avg ≈5.4 | ≈5.4 | 5.2 | Strong liquidity | |
| Quick Ratio | 4.55Y avg ≈4.1 | ≈4.1 | 5.1 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | SPRO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 39.2%5Y avg ≈73.6% | ≈73.6% | · | · | |
| Revenue CAGR 3Y | 7.7%5Y avg ≈56.3% | ≈56.3% | · | · | |
| Revenue CAGR 5Y | 48.2% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | SPRO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.75Y avg ≈0.4 | ≈0.4 | 0.0 | Top tier | |
| Revenue / Employee | ≈$2.7M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
81.9%
Next Report
Nov 11, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $-0.16 | $-0.17 | 7.7% |
| March 31, 2026 | May 13, 2026 | $-0.13 | $-0.18 | 29.2% |
| Dec. 31, 2025 | $0.53 | $-0.20 | 359.8% | |
| Sept. 30, 2025 | $-0.13 | $-0.26 | 49.0% | |
| June 30, 2025 | $-0.03 | $-0.39 | 92.3% | |
| March 31, 2025 | $-0.25 | $-0.56 | 55.4% | |
| Dec. 31, 2024 | $-0.38 | $-0.32 | -20.2% |
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 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $67M | $48M | $104M | $54M | $18M | $9M | $18M | $4M | $2M | $335.0K | |
| R&D Expense | $38M | $97M | $51M | $48M | $65M | $67M | $66M | $34M | $33M | $26M | |
| SG&A Expense | $21M | $24M | $26M | $36M | $42M | $21M | $16M | $13M | $11M | $7M | |
| Operating Expenses | $60M | $121M | $82M | $96M | $106M | $88M | $81M | $47M | $44M | $34M | |
| Operating Income | $6M | $-73M | $21M | $-42M | $-88M | $-79M | $-63M | $-43M | $-42M | $-33M | |
| Interest Income | $3M | $5M | $4M | $1M | $346.0K | $401.0K | $1M | $1M | · | · | |
| Other Non-op | $7.0K | $60.0K | $-14.0K | $-55.0K | $-395.0K | $432.0K | $740.0K | $43.0K | $2M | $580.0K | |
| Pretax Income | $9M | $-69M | $25M | $-46M | $-90M | $-78M | $-61M | $-42M | $-40M | $-33M | |
| Income Tax | $261.0K | $0 | $3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $9M | $-69M | $23M | $-46M | $-90M | $-78M | $-61M | $-42M | $-39M | $-25M | |
| EPS (Basic) | $0.15 | $-1.27 | $0.43 | $-1.23 | $-2.91 | · | · | · | · | · | |
| EPS (Diluted) | $0.15 | $-1.27 | $0.43 | $-1.23 | $-2.91 | · | · | · | · | · | |
| Shares (Basic) | 56,020,363 | 54,037,917 | 52,703,467 | 37,585,075 | 30,895,756 | · | · | · | · | · | |
| Shares (Diluted) | 59,039,225 | 54,037,917 | 52,989,030 | 37,585,075 | 30,895,756 | · | · | · | · | · | |
| EBITDA | $6M | $-73M | $22M | $-41M | $-87M | · | $-62M | $-42M | $-41M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $40M | $53M | $76M | $109M | $113M | $85M | $30M | $34M | $87M | $10M | |
| Short-term Investments | · | · | · | $0 | $34M | $42M | $52M | $81M | · | · | |
| Prepaid Expense | $2M | $2M | $4M | $3M | $9M | $6M | $5M | $7M | $2M | $1M | |
| Other Current Assets | $28.0K | · | · | · | · | · | · | · | · | · | |
| Current Assets | $67M | $107M | $131M | $114M | $158M | $139M | $95M | $124M | $92M | $12M | |
| PP&E (Net) | · | $0 | $2.0K | $368.0K | $1M | $2M | $2M | $3M | $1M | $2M | |
| PP&E (Gross) | · | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $2M | $2M | |
| Accum. Depreciation | · | $4M | $4M | $3M | $3M | $2M | $2M | $827.0K | $643.0K | $290.0K | |
| Other Non-current Assets | $153.0K | $153.0K | $435.0K | $6M | $6M | $5M | $4M | $2M | · | · | |
| Total Assets | $69M | $111M | $182M | $125M | $171M | $153M | $106M | $129M | $93M | $14M | |
| Accounts Payable | $693.0K | $7M | $1M | $617.0K | $1M | $1M | $4M | $4M | $3M | $1M | |
| Current Liabilities | $9M | $49M | $37M | $22M | $19M | $14M | $27M | $12M | $8M | $7M | |
| Capital Leases | $939.0K | $3M | $4M | $5M | $6M | $7M | $5M | · | · | · | |
| Total Liabilities | $10M | $64M | $75M | $49M | $83M | $21M | $32M | $13M | $9M | $7M | |
| Common Stock | $56.0K | $55.0K | $53.0K | $52.0K | $32.0K | $29.0K | $19.0K | $17.0K | $14.0K | $0 | |
| Paid-in Capital | · | · | · | · | · | · | · | $254M | $181M | $0 | |
| Retained Earnings | $-451M | $-460M | $-391M | $-414M | $-367M | $-278M | $-199M | $-139M | $-97M | $-45M | |
| AOCI | · | · | $0 | $0 | $-2.0K | $-7.0K | $16.0K | $-28.0K | · | · | |
| Stockholders' Equity | $59M | $46M | $107M | $76M | $88M | $132M | $75M | $116M | $85M | $-45M | |
| Liabilities + Equity | $69M | $111M | $182M | $125M | $171M | $153M | $106M | $129M | $93M | $14M | |
| Shares Outstanding | 56,414,657 | 54,593,527 | 52,999,680 | 52,456,195 | 32,393,738 | 29,260,247 | 19,190,695 | 17,205,962 | 14,369,182 | 0 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $0 | $2.0K | $367.0K | $869.0K | $646.0K | $761.0K | $750.0K | $409.0K | $363.0K | $279.0K | |
| Stock-based Comp | $4M | $8M | $8M | $9M | $9M | $5M | $4M | $3M | $1M | $180.0K | |
| Deferred Tax | · | $0 | $0 | $0 | · | · | · | · | · | · | |
| Restructuring | $258.0K | $877.0K | $0 | $12M | $0 | · | · | · | · | · | |
| Other Non-cash | $-26M | $37M | $-64M | $29M | $15M | · | $6M | $-1M | $-2M | · | |
| Operating Cash Flow | $-13M | $-23M | $-33M | $-8M | $-64M | $-86M | $-50M | $-40M | $-39M | $-29M | |
| CapEx | · | · | · | · | · | $157.0K | $314.0K | $2M | $27.0K | $830.0K | |
| Investing Cash Flow | · | · | $0 | $34M | $8M | $10M | $30M | $-83M | $-27.0K | $-830.0K | |
| Stock Issued | · | $0 | $221.0K | · | $8M | $13M | $16M | · | · | · | |
| Net Stock Activity | · | $0 | · | · | $8M | · | $16M | · | · | · | |
| Financing Cash Flow | · | $0 | $221.0K | $-30M | $84M | $131M | $16M | $70M | $116M | $34M | |
| Net Change in Cash | $-13M | $-23M | $-33M | $-3M | $27M | $55M | $-4M | $-53M | $77M | $5M | |
| Free Cash Flow | · | · | · | · | · | · | $-50M | $-42M | $-39M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 9.4% | -152.9% | 20.7% | -78.9% | -481.9% | · | -348.4% | -1079.3% | · | · | |
| Net Margin | 12.8% | -142.9% | 22.0% | -86.7% | -491.9% | · | -335.6% | -1050.5% | · | · | |
| Pretax Margin | 13.2% | -142.9% | 24.5% | -86.7% | -491.7% | · | -335.7% | -1050.5% | · | · | |
| EBITDA Margin | 9.4% | -152.9% | 21.1% | -77.2% | -478.3% | · | -344.2% | -1069.0% | · | · | |
| ROA | 9.6% | -46.8% | 14.8% | -31.4% | -55.3% | · | -51.8% | -37.5% | -72.2% | · | |
| ROE | 18.7% | -122.8% | 28.4% | -85.6% | -89.7% | · | -64.1% | -41.6% | -197.9% | · | |
| ROIC | 10.4% | -159.1% | 18.0% | -55.6% | -99.6% | · | -84.8% | -37.1% | -49.3% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.6 | 2.2 | 3.5 | 5.2 | 8.5 | · | 3.6 | 10.1 | 11.3 | · | |
| Quick Ratio | 4.5 | 1.1 | 2.1 | 5.0 | 7.8 | · | 3.1 | 9.4 | 10.7 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.3 | 0.7 | 0.4 | 0.1 | · | 0.2 | 0.0 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $1.05 | $0.84 | $2.02 | $1.45 | $2.73 | · | $3.89 | $6.71 | $5.89 | · | |
| Revenue / Share | $1.13 | $0.89 | $1.96 | $1.42 | · | · | · | · | · | · | |
| Cash Flow / Share | $-0.21 | $-0.43 | $-0.62 | $-0.21 | · | · | · | · | · | · | |
| Cash / Share | $0.71 | $0.97 | $1.44 | $2.08 | $3.48 | · | $1.55 | $1.98 | $6.07 | · | |
| EPS (TTM) | $0.15 | $-1.27 | $0.43 | $-1.23 | $-2.91 | · | · | · | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 39.2% | -53.8% | 94.0% | 193.1% | 95.7% | · | · | · | · | · | |
| Revenue CAGR 3Y | 7.7% | 38.0% | 123.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 48.2% | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $67M | $48M | $104M | $54M | $18M | $9M | $18M | $4M | $2M | · | |
| Net Income TTM | $9M | $-69M | $23M | $-46M | $-90M | $-78M | $-61M | $-42M | $-39M | · | |
| Market Cap | $131M | $56M | $78M | $91M | $519M | · | $185M | $106M | $169M | · | |
| P/E | 15.5 | -0.8 | 3.4 | -1.4 | -5.5 | · | · | · | · | · | |
| P/S | 2.0 | 1.2 | 0.8 | 1.7 | 28.4 | · | 10.2 | 26.7 | 85.3 | · | |
| P/B | 2.2 | 1.2 | 0.7 | 1.2 | 5.9 | · | 2.5 | 0.9 | 2.0 | · | |
| P / Tangible Book | 2.2 | 1.2 | 0.7 | 1.2 | 5.9 | 4.3 | · | · | · | · | |
| P / Cash Flow | -10.4 | -2.4 | -2.4 | -11.7 | -8.1 | · | -3.7 | -2.7 | -4.3 | · | |
| P / FCF | · | · | · | · | · | · | -3.7 | -2.5 | -4.3 | · | |
| Earnings Yield | 6.4% | -123.3% | 29.2% | -71.1% | -18.2% | · | · | · | · | · |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $258.0K | $41M | $5M | $14M | $6M | $15M | $13M | $10M | $9M | $74M | $25M | $3M | $2M | $47M | $2M | |
| R&D Expense | $3M | $3M | $6M | $9M | $11M | $14M | $29M | $27M | $24M | $17M | $17M | $16M | $10M | $9M | $15M | $7M | |
| SG&A Expense | $6M | $5M | $4M | $4M | $6M | $7M | $7M | $5M | $6M | $6M | $6M | $6M | $6M | $7M | $6M | $7M | |
| Operating Expenses | $10M | $8M | $10M | $13M | $17M | $21M | $37M | $32M | $29M | $23M | $23M | $27M | $16M | $16M | $22M | $14M | |
| Operating Income | $-10M | $-8M | $31M | $-8M | $-2M | $-15M | $-22M | $-19M | $-19M | $-14M | $51M | $-2M | $-13M | $-14M | $26M | $-12M | |
| Interest Income | $377.0K | $336.0K | $376.0K | $532.0K | $740.0K | $864.0K | $1M | $1M | $1M | $1M | $1M | $950.0K | $982.0K | $963.0K | $715.0K | $208.0K | |
| Other Non-op | $-3.0K | $-1.0K | $0 | $2.0K | $4.0K | $1.0K | $99.0K | $-26.0K | $1.0K | $-14.0K | $4.0K | $-10.0K | $-6.0K | $-2.0K | $-9.0K | $-23.0K | |
| Income Tax | · | · | $261.0K | $0 | · | · | $-290.0K | $290.0K | · | · | $387.0K | $2M | · | · | $0 | $0 | |
| Net Income | $-10M | $-7M | $32M | $-7M | $-2M | $-14M | $-21M | $-17M | $-18M | $-13M | $51M | $-3M | $-12M | $-13M | $27M | $-12M | |
| EPS (Basic) | $-0.16 | $-0.13 | $0.56 | $-0.13 | $-0.03 | $-0.25 | $-0.38 | $-0.32 | $-0.33 | $-0.24 | $0.97 | $-0.06 | $-0.23 | $-0.25 | $0.98 | $-0.33 | |
| EPS (Diluted) | $-0.16 | $-0.13 | $0.56 | $-0.13 | $-0.03 | $-0.25 | $-0.38 | $-0.32 | $-0.33 | $-0.24 | $0.97 | $-0.06 | $-0.23 | $-0.25 | $0.98 | $-0.33 | |
| Shares (Basic) | 57,968,608 | 57,281,570 | · | 56,280,844 | 56,026,767 | 55,376,188 | · | 54,124,862 | 53,957,766 | 53,524,037 | · | 52,710,280 | 52,571,813 | 52,527,018 | · | 35,882,076 | |
| Shares (Diluted) | 57,968,608 | 57,281,570 | · | 56,280,844 | 56,026,767 | 55,376,188 | · | 54,124,862 | 53,957,766 | 53,524,037 | · | 52,710,280 | 52,571,813 | 52,527,018 | · | 35,882,076 | |
| EBITDA | $-10M | $-8M | · | $-8M | $-2M | $-15M | · | $-19M | $-19M | $-14M | · | $-2M | $-13M | $-14M | · | $-12M |
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 | $51M | $56M | $40M | $49M | $31M | $49M | $53M | $76M | $64M | $82M | $76M | $94M | $78M | $96M | $109M | $50M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Prepaid Expense | $785.0K | $1M | $2M | $1M | $1M | $2M | $2M | $2M | $3M | $4M | $4M | $5M | $9M | $4M | $3M | $1M | |
| Other Current Assets | $25.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Current Assets | $52M | $58M | $67M | $52M | $59M | $75M | $107M | $132M | $122M | $140M | $131M | $102M | $88M | $102M | $114M | $53M | |
| PP&E (Net) | · | · | · | · | · | · | · | $0 | $0 | $2.0K | $2.0K | $41.0K | $148.0K | $256.0K | $368.0K | $494.0K | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | $4M | · | · | · | $4M | · | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | · | $4M | · | · | · | $3M | · | |
| Other Non-current Assets | $153.0K | $153.0K | $153.0K | $153.0K | $153.0K | $153.0K | $153.0K | $153.0K | $434.0K | $434.0K | $435.0K | $434.0K | $6M | $6M | $6M | $6M | |
| Total Assets | $53M | $59M | $69M | $54M | $62M | $78M | $111M | $135M | $150M | $168M | $182M | $107M | $99M | $113M | $125M | $64M | |
| Accounts Payable | $155.0K | $217.0K | $693.0K | $1M | $780.0K | $2M | $7M | $6M | $3M | $3M | $1M | $1M | $1M | $583.0K | $617.0K | $3M | |
| Current Liabilities | $8M | $5M | $9M | $14M | $15M | $29M | $49M | $49M | $46M | $42M | $37M | $25M | $17M | $23M | $22M | $16M | |
| Capital Leases | $43.0K | $507.0K | $939.0K | $1M | $2M | $2M | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | |
| Total Liabilities | $9M | $6M | $10M | $28M | $29M | $44M | $64M | $70M | $69M | $71M | $75M | $53M | $44M | $48M | $49M | $32M | |
| Common Stock | $58.0K | $58.0K | $56.0K | $56.0K | $56.0K | $56.0K | $55.0K | $54.0K | $54.0K | $54.0K | $53.0K | $53.0K | $53.0K | $53.0K | $52.0K | $43.0K | |
| Retained Earnings | $-468M | $-458M | $-451M | $-483M | $-475M | $-474M | $-460M | $-439M | $-422M | $-404M | $-391M | $-442M | $-439M | $-427M | $-414M | $-441M | |
| AOCI | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | |
| Stockholders' Equity | $44M | $53M | $59M | $26M | $33M | $34M | $46M | $66M | $80M | $96M | $107M | $54M | $55M | $65M | $76M | $32M | |
| Liabilities + Equity | $53M | $59M | $69M | $54M | $62M | $78M | $111M | $135M | $150M | $168M | $182M | $107M | $99M | $113M | $125M | $64M | |
| Shares Outstanding | 58,146,910 | 57,891,493 | 56,414,657 | 56,311,795 | 56,187,308 | 55,900,641 | 54,593,527 | 54,314,415 | 54,009,139 | 53,869,139 | 52,999,680 | 52,999,317 | 52,571,813 | 52,571,813 | 52,456,195 | 42,856,623 |
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 | · | · | $0 | $0 | · | · | $0 | $0 | $2.0K | $0 | $38.0K | $108.0K | $108.0K | $113.0K | $129.0K | $257.0K | |
| Stock-based Comp | $822.0K | $1M | $1M | $1M | $714.0K | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Restructuring | $0 | $0 | $0 | $0 | $83.0K | $175.0K | $877.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $-67.0K | $-152.0K | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | $17M | · | · | · | $-2M | · | · | |
| Operating Cash Flow | $-5M | $16M | $-8M | $17M | $-18M | $-4M | $-23M | $13M | $-19M | $6M | $-17M | $16M | $-19M | $-13M | $44M | $-957.0K | |
| Investing Cash Flow | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $-129.0K | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | $1.0K | $220.0K | $0 | $0 | · | $6M | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Financing Cash Flow | · | · | · | · | · | · | · | · | · | · | $1.0K | $220.0K | $0 | $0 | $14M | $6M | |
| Net Change in Cash | $-5M | $16M | $-8M | $17M | $-18M | $-4M | $-23M | $13M | $-19M | $6M | $-17M | $16M | $-19M | $-13M | $59M | $5M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | -2921.7% | · | -145.5% | -17.2% | -250.8% | · | -138.0% | -186.9% | -150.9% | · | -7.6% | -474.6% | -687.6% | · | -589.9% | |
| Net Margin | · | -2791.9% | · | -135.7% | -12.0% | -236.1% | · | -127.3% | -175.5% | -137.1% | · | -12.6% | -438.1% | -642.8% | · | -583.2% | |
| EBITDA Margin | · | -2921.7% | · | -145.5% | -17.2% | -250.8% | · | -138.0% | -186.9% | -150.9% | · | -7.6% | -474.6% | -682.2% | · | -589.9% | |
| ROA | -16.6% | -10.5% | · | -7.8% | -1.6% | -11.3% | · | -14.2% | -14.4% | -9.1% | · | -3.7% | -14.6% | -10.3% | · | -11.2% | |
| ROE | -24.8% | -16.6% | · | -16.1% | -3.0% | -21.3% | · | -28.8% | -26.5% | -15.8% | · | -7.4% | -26.2% | -20.9% | · | -16.2% |
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 | 6.1 | 10.5 | · | 3.8 | 4.0 | 2.6 | · | 2.7 | 2.7 | 3.4 | · | 4.0 | 5.1 | 4.4 | · | 3.3 | |
| Quick Ratio | 6.0 | 10.2 | · | 3.6 | 2.1 | 1.7 | · | 1.6 | 1.4 | 2.0 | · | 3.7 | 4.5 | 4.2 | · | 3.1 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.1 | 0.1 | 0.0 | · | 0.1 | 0.1 | 0.1 | · | 0.3 | 0.0 | 0.0 | · | 0.0 |
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 | $0.76 | $0.91 | · | $0.47 | $0.58 | $0.60 | · | $1.21 | $1.49 | $1.79 | · | $1.01 | $1.04 | $1.23 | · | $0.76 | |
| Revenue / Share | $0.00 | $0.00 | · | $0.10 | $0.25 | $0.11 | · | $0.25 | $0.19 | $0.17 | · | $0.48 | $0.05 | $0.04 | · | $0.06 | |
| Cash Flow / Share | · | $0.28 | · | · | · | $-0.07 | · | · | · | $0.11 | · | · | · | $-0.24 | · | · | |
| Cash / Share | $0.87 | $0.97 | · | $0.86 | $0.56 | $0.87 | · | $1.40 | $1.18 | $1.53 | · | $1.77 | $1.48 | $1.83 | · | $1.18 | |
| EPS (TTM) | $0.14 | $0.27 | · | $-0.79 | $-0.98 | $-1.28 | · | $0.08 | $0.34 | $0.44 | · | $0.44 | $0.17 | $-0.47 | · | $-3.13 |
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 | $47M | $61M | · | $41M | $49M | $45M | · | $106M | $118M | $111M | · | $78M | $54M | $54M | · | $9M | |
| Net Income TTM | $7M | $15M | · | $-44M | $-54M | $-70M | · | $4M | $17M | $23M | · | $-2M | $-10M | $-27M | · | $-102M | |
| Market Cap | $129M | $135M | · | $106M | $163M | $40M | · | $73M | $70M | $93M | · | $64M | $76M | $76M | · | $86M | |
| P/E | 15.8 | 8.7 | · | -2.4 | -3.0 | -0.6 | · | 16.8 | 3.8 | 3.9 | · | 2.8 | 8.5 | -3.1 | · | -0.6 | |
| P/S | 2.7 | 2.2 | · | 2.6 | 3.4 | 0.9 | · | 0.7 | 0.6 | 0.8 | · | 0.8 | 1.4 | 1.4 | · | 9.7 | |
| P/B | 2.9 | 2.6 | · | 4.0 | 5.0 | 1.2 | · | 1.1 | 0.9 | 1.0 | · | 1.2 | 1.4 | 1.2 | · | 2.6 | |
| P / Tangible Book | 2.9 | 2.6 | · | 4.0 | 5.0 | 1.2 | · | 1.1 | 0.9 | 1.0 | · | 1.2 | 1.4 | 1.2 | · | 2.6 | |
| P / Cash Flow | · | 8.5 | · | · | · | -10.1 | · | · | · | 15.6 | · | · | · | -5.9 | · | · | |
| Earnings Yield | 6.3% | 11.5% | · | -42.0% | -33.8% | -177.8% | · | 6.0% | 26.2% | 25.6% | · | 36.4% | 11.7% | -32.4% | · | -156.5% |
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 | $67M | $48M | $104M | $54M | $18M |
| Operating Margin % | 9.4% | -152.9% | 20.7% | -78.9% | -481.9% |
| Net Income | $9M | $-69M | $23M | $-46M | $-90M |
| Diluted EPS | $0.15 | $-1.27 | $0.43 | $-1.23 | $-2.91 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 7.6 | 2.2 | 3.5 | 5.2 | 8.5 |
| Quick Ratio | 4.5 | 1.1 | 2.1 | 5.0 | 7.8 |
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 67 filers · $52.7M 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
67
Value held
$52.7M
New positions
23
Exited positions
11
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 23 (+12 vs prior Q) | 11 (-1 vs prior Q) | 17 (+6 vs prior Q) | 8 (-5 vs prior Q) | +864K |
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 |
|---|---|---|---|---|
| GSK plc | $20,311,239 | 9,190,606 | 38.57% | Shares |
| Pfizer Inc | $5,338,906 | 2,362,348 | 10.14% | Shares |
| VANGUARD GROUP INC | $4,854,466 | 2,083,462 | 9.22% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $4,500,059 | 2,036,226 | 8.54% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $2,094,868 | 947,904 | 3.98% | Shares |
| Alphabet Inc. | $1,966,854 | 889,979 | 3.73% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,678,031 | 759,290 | 3.19% | Shares |
| BlackRock, Inc. | $1,313,634 | 594,404 | 2.49% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,252,145 | 566,329 | 2.38% | Shares |
| RAYMOND JAMES FINANCIAL INC | $1,152,968 | 521,705 | 2.19% | Shares |
| TWO SIGMA INVESTMENTS, LP | $846,019 | 382,814 | 1.61% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $735,864 | 332,970 | 1.40% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $635,702 | 287,648 | 1.21% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $607,616 | 274,820 | 1.15% | Shares |
| GOLDMAN SACHS GROUP INC | $567,937 | 256,985 | 1.08% | Shares |
| TWO SIGMA ADVISERS, LP | $504,678 | 216,600 | 0.96% | Shares |
| STATE STREET CORP | $474,600 | 214,751 | 0.90% | Shares |
| JANE STREET GROUP, LLC | $349,394 | 158,097 | 0.66% | Shares |
| UBS Group AG | $308,693 | 139,680 | 0.59% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $253,708 | 114,800 | 0.48% | Shares |
| NORTHERN TRUST CORP | $239,286 | 108,274 | 0.45% | Shares |
| Point72 Asset Management, L.P. | $230,673 | 104,377 | 0.44% | Shares |
| Ionic Capital Management LLC | $226,963 | 102,698 | 0.43% | Shares |
| Federation des caisses Desjardins du Quebec | $202,180 | 91,900 | 0.38% | Shares |
| Shay Capital LLC | $159,984 | 72,391 | 0.30% | Shares |
| CITADEL ADVISORS LLC | $144,976 | 65,600 | 0.28% | Put option |
| Invesco Ltd. | $141,981 | 64,245 | 0.27% | Shares |
| SIMPLEX TRADING, LLC | $135,499 | 61,312 | 0.26% | Shares |
| Verdad Advisers, LP | $113,450 | 51,335 | 0.22% | Shares |
| XTX Topco Ltd | $111,685 | 50,536 | 0.21% | Shares |
| JANE STREET GROUP, LLC | $104,091 | 47,100 | 0.20% | Call option |
| AMERICAN CENTURY COMPANIES INC | $81,352 | 36,811 | 0.15% | Shares |
| Cubist Systematic Strategies, LLC | $76,789 | 40,845 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $76,466 | 34,600 | 0.15% | Put option |
| AXXCESS WEALTH MANAGEMENT, LLC | $71,931 | 32,548 | 0.14% | Shares |
| Capital Asset Advisory Services LLC | $71,931 | 32,548 | 0.14% | Shares |
| Three Seasons Wealth, LLC | $66,300 | 30,000 | 0.13% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $63,129 | 28,565 | 0.12% | Shares |
| JANE STREET GROUP, LLC | $59,228 | 26,800 | 0.11% | Put option |
| Vanguard Global Advisers, LLC | $56,236 | 25,446 | 0.11% | Shares |
| Global Retirement Partners, LLC | $55,250 | 25,000 | 0.10% | Shares |
| OPPENHEIMER & CO INC | $50,499 | 22,850 | 0.10% | Shares |
| MILLENNIUM MANAGEMENT LLC | $42,649 | 19,298 | 0.08% | Shares |
| Assenagon Asset Management S.A. | $41,186 | 18,636 | 0.08% | Shares |
| DLK Investment Management, LLC | $40,762 | 31,355 | 0.08% | Shares |
| Susquehanna Portfolio Strategies, LLC | $38,958 | 17,628 | 0.07% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $35,570 | 16,095 | 0.07% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $30,277 | 13,700 | 0.06% | Call option |
| Qube Research & Technologies Ltd | $30,153 | 13,644 | 0.06% | Shares |
| GROUP ONE TRADING LLC | $24,020 | 10,869 | 0.05% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| ATLAS VENTURE FUND X, L.P., ATLAS VENTURE ASSOCIATES X, L.P., Atlas Venture Associates X, LLC ×2 filings | Feb. 16, 2021 | · | 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.
Company insiders 23 insiders · 10 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Esther Rajavelu | Chief Executive Officer, Chief Financial Officer and Chief Business Officer | May 4, 2026 S | 986,851 | 0 | 5 | $-406,848 |
| Sath Shukla | CEO & President | Feb. 5, 2025 S | 1,736,883 | 0 | 0 | $0 |
| Joel Sendek | Chief Financial Officer | Jan. 2, 2019 A | 15,181 | 0 | 0 | $0 |
| Timothy Keutzer | Chief Operating Officer | Feb. 6, 2026 S | 742,506 | 0 | 4 | $-145,193 |
| Cristina Larkin | Chief Operating Officer | Feb. 1, 2022 A | 63,581 | 0 | 0 | $0 |
| Debra Zack | Chief Medical Officer | Aug. 3, 2026 A | 162,311 | 0 | 0 | $0 |
| Kamal Hamed | Chief Medical Officer | Feb. 2, 2024 S | 788,117 | 0 | 0 | $0 |
| Tamara L Joseph | Chief Legal Officer | Feb. 2, 2024 S | 531,615 | 0 | 0 | $0 |
| David A. Melnick | Chief Medical Officer | Feb. 1, 2022 A | 62,081 | 0 | 0 | $0 |
| Thomas R Parr JR | Chief Scientific Officer | Jan. 2, 2019 A | · | 0 | 0 | $0 |
| Kathleen Tregoning | Director | June 23, 2026 A | 85,000 | 0 | 0 | $0 |
| Cynthia Smith | Director | June 23, 2026 A | 85,000 | 0 | 0 | $0 |
| Scott Thomas Jackson | Director | June 23, 2026 A | 85,000 | 0 | 0 | $0 |
| Patrick V.J.J. Vink | Director | June 23, 2026 A | 85,000 | 0 | 0 | $0 |
| Milind Deshpande | Director | June 23, 2026 A | 101,454 | 0 | 0 | $0 |
| John C Pottage Jr | Director | June 23, 2026 A | 85,000 | 0 | 0 | $0 |
| Frank E Thomas | Director | June 23, 2026 A | 85,000 | 0 | 0 | $0 |
| Ankit Mahadevia | Director | Aug. 28, 2025 S | 703,294 | 0 | 0 | $0 |
| FORMELA JEAN FRANCOIS | Director | Aug. 17, 2021 A | 2,408,128 | 0 | 0 | $0 |
| Casper Breum | Director | June 5, 2018 A | 1,091,774 | 0 | 0 | $0 |
| David P Southwell | Director | June 5, 2018 A | · | 0 | 0 | $0 |
| Vikas Goyal | Director | Nov. 6, 2017 C | 1,854,006 | 0 | 0 | $0 |
| GSK plc | 10% owner | July 17, 2018 P | 1,934,006 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 9 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 |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.54% | 98,345 SH | Oct. 2, 2026 | Daily |
| IWC · iShares Trust | 0.01% | 150,208 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.00% | 67,185 SH | Oct. 2, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 65,997 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 7,979 NS | July 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.00% | 25,054 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 593,254 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,395,976 SH | Aug. 19, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 4,874 NS | July 31, 2026 | N-PORT |
SPRO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 6 analysts
SELL
Median target
$5.00
+320.2%
0 0.0%
Strong Buy
0 0.0%
Buy
3 50.0%
Hold
1 16.7%
Sell
2 33.3%
Strong Sell
12-Month Price Target
2 analysts · 2026-09-27Mean target $5.00 +320.2%
← Below all targets
Current price $1.19
Low$4.00
Mean$5.00
High$6.00
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 |
|---|---|---|---|---|---|---|
| SPRO | $131M | 15.5 | 39.2% | 12.8% | 18.7% | · |
| TENX | $114M | -9.1 | · | · | -52.5% | · |
| RNXT | · | -2.6 | 2511.6% | · | · | · |
| ALDX | $312M | -9.2 | · | · | -68.0% | · |
| GRML | · | · | · | · | -104.9% | · |
| RNTX | · | -0.6 | · | · | · | · |
| IBIO | $97M | -5.5 | -75.0% | -33044.0% | -65.7% | · |
| XBIT | · | -1.6 | · | · | · | · |
| APLM | · | -2.5 | · | -128.7% | -1305.4% | · |
| FBIO | · | · | · | · | · | · |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Source: SEC 10-Q filed Aug 12, 2026