STRO Sutro Biopharma, Inc. - Common Stock
$22.16
Price · Aug 18, 2026
Fundamentals as of Aug 12, 2026
52W Range
$1–$44
50% of range
Analyst Rating
BUY
19 analysts
Price Target
$48
+116% upside
P/E (TTM)
-1.0
ROE
232.2%
Net Profit Margin
-186.5%
About Sutro Biopharma, Inc. - Common Stock Company overview from Wikipedia
Sutro Biopharma, Inc. is a publicly traded biotechnology company headquartered in South San Francisco, California focused on clinical-stage drug discovery, development and manufacturing. Using a proprietary cell-free protein synthesis platform, Sutro is working on oncology therapeutics using protein engineering and rational design. Founded in 2003 under the name Fundamental Applied Biology, the company name changed to Sutro Biopharma in 2009. William Newell, CEO as of 2024, joined Sutro in January 2009.
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Sutro Biopharma, Inc. is a publicly traded biotechnology company headquartered in South San Francisco, California focused on clinical-stage drug discovery, development and manufacturing. Using a proprietary cell-free protein synthesis platform, Sutro is working on oncology therapeutics using protein engineering and rational design. Founded in 2003 under the name Fundamental Applied Biology, the company name changed to Sutro Biopharma in 2009. William Newell, CEO as of 2024, joined Sutro in January 2009.
Sutro's cell-free protein synthesis and site-specific conjugation platform, XpressCF+, contributed to the discovery of STRO-001 and STRO-002, internally-developed antibody drug conjugates, or ADCs. STRO-001 is an ADC targeting CD74, a protein highly expressed in multiple myeloma and non-Hodgkin's lymphoma, and is currently in a Phase I clinical trial. STRO-002 is an ADC targeting folate receptor alpha, a cell-surface protein highly expressed in gynecological cancers.
As of 2024 Sutro's drug discovery efforts have focused on antibody-drug conjugates, cytokine-based immuno-oncology therapies, and bispecific antibodies primarily directed at clinically validated targets for which the current standard of care is suboptimal.
Technology
Sutro's Xpress CF Platform is based on Stanford Professor James R. Swartz's patented Open Cell-Free Synthesis (OCFS) technology. XpressCF technology enables the parallel expression of hundreds of protein variants in less than 24 hours, providing a platform for the discovery and development of a wide variety of protein classes including cytokines, vaccine carrier-proteins, antibodies, and novel antibody-based proteins. The XpressCF+ platform allows for precise incorporation of non-natural amino acids into a protein sequence, and Sutro is using this technology to develop homogeneous site-specific antibody-drug conjugates (ADCs). Once identified, production of protein drug candidates can be scaled in Sutro's cGMP manufacturing facility located in San Carlos, CA.
Sutro's technology has also contributed to the formation of SutroVax, a vaccine spin off founded in 2015 that has raised over US$170 million in capital.
Collaborations
In July 2018, Sutro signed a collaboration and licensing agreement with Merck to discover and develop novel cytokine-based therapies for cancer and autoimmune disorders. Sutro received an upfront payment of $60 million and is eligible for milestone payments totaling up to $1.6 billion associated with the development and sale of all therapeutic candidates and all possible indications identified under the collaboration. In 2017, Sutro and Celgene announced they had refocused their 2014 immuno-oncology collaboration on four programs advancing through preclinical development, including an ADC program targeting B-Cell maturation antigen (BCMA).
Awards
The XpressCF Platform was awarded Best ADC Technology Platform at the World ADC in 2018, with Sutro as the runner up for Best New Drug Developer. Sutro was named one of Fierce Biotech's Fierce 15 in 2014. In 2015 was awarded the DiNA Outstanding Partner Award by the California Life Sciences Association.
== References ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
STRO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$22.16
Market Cap
$190M
P/E (TTM)
-1.0
EPS (TTM)
$-22.49
Revenue (TTM)
$102M
Div Yield
—
ROE
232.2%
Debt/Equity
—
52W Range
$1 – $44
STRO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$102M
2016-12-31
→
2025-12-31
EPS
$-22.49
2020-12-31
→
2025-12-31
Free Cash Flow
—
2018-12-31
→
2018-12-31
Margins
-186.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
STRO
Peer Median
P/E (TTM)
-1.0
6.1
P/S (TTM)
1.9
7.7
P/B
-1.4
2.2
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
STRO
Peer Median
Operating Margin
-154.5%
—
Net Profit Margin
-186.5%
-60.9%
ROA
-68.1%
-50.0%
ROE
232.2%
-44.8%
ROIC
119.5%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
STRO
Peer Median
Current Ratio
2.0
5.9
Quick Ratio
1.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
STRO
Peer Median
Revenue YoY
65.2%
—
Revenue CAGR 3Y
14.8%
—
Revenue CAGR 5Y
19.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
STRO
Peer Median
STRO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
19 analysts
- Strong Buy 5 26.3%
- Buy 12 63.2%
- Hold 1 5.3%
- Sell 1 5.3%
- Strong Sell 0 0.0%
12-Month Price Target
13 analysts · 2026-08-13
Median
$50.00
Now
$22.16
Low
$10.00
High
$61.00
Median target
$50.00
+125.6%
Mean target
$47.77
+115.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.34%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-2.94 | $-3.85 | 0.91% |
| Dec. 31, 2025 | $-5.29 | $-4.43 | -0.86% |
| Sept. 30, 2025 | $-6.70 | $-4.23 | -2.5% |
| June 30, 2025 | $-1.40 | $-4.10 | 2.7% |
| March 31, 2025 | $-9.10 | $-7.22 | -1.9% |
| Dec. 31, 2024 | $-8.90 | $-8.48 | -0.42% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| STRO | $99M | -0.5 | 65.2% | -186.5% | 232.2% | — |
| ENTA | $256M | -3.1 | -3.4% | -125.4% | -103.5% | — |
| DMAC | $428M | — | — | — | -78.7% | — |
| GALT | $271M | -8.7 | — | — | 25.0% | — |
| ZNTL | $93M | -0.7 | — | — | -49.5% | — |
| IPSC | $87M | -7.1 | 1556.8% | -8.8% | -5.2% | — |
| SABS | — | — | — | — | — | — |
| ABEO | $290M | 5.2 | 147.5% | 1223.1% | 44.1% | — |
| IMRX | — | -5.2 | — | — | -45.3% | — |
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 | $102M | $62M | $154M | $68M | $62M | $43M | $43M | $38M | $52M | |
| R&D Expense | $166M | $252M | $180M | $137M | $104M | $77M | $66M | $54M | $55M | |
| SG&A Expense | $41M | $48M | $63M | $60M | $56M | $37M | $33M | $21M | $16M | |
| Operating Expenses | $261M | $300M | $243M | $197M | $160M | $114M | $98M | $76M | $71M | |
| Operating Income | $-158M | $-238M | $-89M | $-129M | $-99M | $-71M | $-55M | $-37M | $-19M | |
| Interest Expense | · | · | · | · | · | · | · | $2M | $612.0K | |
| Other Non-op | · | · | · | · | · | · | · | $2M | $-77.0K | |
| Pretax Income | $-191M | $-225M | $-89M | $-117M | $-106M | $-32M | · | · | · | |
| Income Tax | $-93.0K | $2M | $18M | $2M | $0 | $103.0K | $0 | $0 | $0 | |
| Net Income | $-191M | $-227M | $-107M | $-119M | $-106M | $-32M | $-119M | $-35M | $-20M | |
| EPS (Basic) | $-22.49 | $-29.40 | $-1.78 | $-2.35 | $-2.29 | $-0.99 | · | · | · | |
| EPS (Diluted) | $-22.49 | $-29.40 | $-1.78 | $-2.35 | $-2.29 | $-0.99 | · | · | · | |
| Shares (Basic) | 8,497,798 | 7,736,734 | 60,163,542 | 50,739,185 | 46,119,089 | 32,573,469 | · | · | · | |
| Shares (Diluted) | 8,497,798 | 7,736,734 | 60,163,542 | 50,739,185 | 46,119,089 | 32,573,469 | · | · | · | |
| EBITDA | $-151M | $-231M | $-82M | $-123M | $-94M | $-67M | · | $-33M | · |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $58M | $190M | $69M | $47M | $30M | $206M | $5M | $125M | $22M | |
| Short-term Investments | $83M | $127M | $264M | $255M | $130M | $120M | $113M | $79M | · | |
| Receivables | $4M | $9M | $36M | $7M | $12M | $6M | $6M | $2M | $2M | |
| Prepaid Expense | $6M | $18M | $10M | $12M | $8M | $4M | $4M | $3M | $2M | |
| Current Assets | $151M | $343M | $422M | $353M | $219M | $378M | $129M | $210M | $26M | |
| PP&E (Net) | $11M | $18M | $22M | $25M | $23M | $13M | $10M | $11M | $14M | |
| PP&E (Gross) | $38M | $67M | $64M | $63M | $56M | $50M | $43M | $40M | $39M | |
| Accum. Depreciation | $27M | $49M | $42M | $38M | $33M | $37M | $34M | $29M | $25M | |
| Other Non-current Assets | $495.0K | $7M | $4M | $2M | $2M | $2M | $3M | $2M | $1M | |
| Total Assets | $174M | $387M | $471M | $407M | $341M | $394M | $156M | $223M | $41M | |
| Accounts Payable | $8M | $10M | $9M | $5M | $6M | $6M | $6M | $3M | $3M | |
| Accrued Liabilities | $15M | $13M | $15M | $13M | $11M | $9M | $6M | $6M | $4M | |
| Current Liabilities | $75M | $132M | $94M | $67M | $42M | $30M | $33M | $36M | $32M | |
| Capital Leases | $8M | $16M | $23M | $30M | $31M | · | · | · | · | |
| Other Non-current Liabilities | $2M | $2M | $2M | $119.0K | $146.0K | $481.0K | $134.0K | $102.0K | $14.0K | |
| Total Liabilities | $306M | $343M | $321M | $190M | $89M | $62M | $59M | $92M | $47M | |
| Long-term Debt | · | · | $4M | $16M | $25M | $25M | · | $15M | · | |
| Total Debt | · | · | $4M | $16M | $25M | $25M | · | $10M | · | |
| Common Stock | $9.0K | $8.0K | $61.0K | $58.0K | $46.0K | $46.0K | $23.0K | $23.0K | · | |
| Retained Earnings | $-978M | $-787M | $-559M | $-453M | $-333M | $-228M | $-196M | $-150M | $-115M | |
| AOCI | $19.0K | $39.0K | $21.0K | $-618.0K | $-314.0K | $129.0K | $165.0K | $-47.0K | · | |
| Stockholders' Equity | $-132M | $45M | $150M | $217M | $253M | $332M | $98M | $132M | $-109M | |
| Liabilities + Equity | $174M | $387M | $471M | $407M | $341M | $394M | $156M | $223M | $41M | |
| Shares Outstanding | 8,584,309 | 8,306,398 | 61,009,829 | 57,499,541 | 46,327,131 | 45,752,116 | 23,098,969 | 22,848,184 | 465,330 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $7M | $7M | $6M | $5M | $4M | $5M | $5M | $5M | |
| Stock-based Comp | $14M | $25M | $25M | $26M | $23M | $12M | $10M | $3M | $1M | |
| Restructuring | $13M | · | · | · | · | · | · | · | · | |
| Other Non-cash | $-7M | $4M | $-37M | $91M | $-4M | $-52M | · | $41M | · | |
| Operating Cash Flow | $-177M | $-192M | $-112M | $4M | $-82M | $-68M | $-65M | $13M | $-37M | |
| CapEx | · | · | · | · | · | · | · | $2M | $3M | |
| Investing Cash Flow | $45M | $219M | $-4M | $-35M | $-97M | $604.0K | $-51M | $-80M | $33M | |
| Debt Issued | · | · | · | · | · | · | · | $0 | $15M | |
| Net Debt Issued | · | · | · | · | · | · | · | $0 | · | |
| Stock Issued | $0 | $25M | $0 | $0 | · | $251M | $-327.0K | · | · | |
| Stock Repurchased | · | · | · | · | $7.0K | · | · | · | · | |
| Net Stock Activity | $0 | $25M | $12M | $56M | $-7.0K | $251M | · | · | · | |
| Financing Cash Flow | $44.0K | $94M | $138M | $48M | $3M | $269M | $-4M | $171M | $15M | |
| Net Change in Cash | $-132M | $121M | $22M | $17M | $-176M | $202M | $-120M | $103M | $10M | |
| Taxes Paid | $75.0K | $18M | $379.0K | $0 | $103.0K | · | · | · | · | |
| Free Cash Flow | · | · | · | · | · | · | · | $11M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -154.5% | -384.3% | -58.1% | -190.3% | -159.2% | -166.3% | · | -96.9% | · | |
| Net Margin | -186.5% | -366.6% | -69.5% | -175.9% | -170.6% | -75.2% | · | -91.9% | · | |
| Pretax Margin | -186.5% | -362.8% | -57.6% | -172.2% | · | · | · | · | · | |
| EBITDA Margin | -147.4% | -372.7% | -53.6% | -181.9% | -151.4% | -156.3% | · | -85.1% | · | |
| ROA | -68.1% | -53.0% | -24.3% | -31.9% | -28.7% | -11.7% | · | -26.8% | · | |
| ROE | 232.2% | -292.0% | -81.5% | -53.4% | -39.4% | -11.2% | · | 713.8% | · | |
| ROIC | 119.5% | -540.2% | -70.0% | -56.5% | · | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.0 | 2.6 | 4.5 | 5.3 | 5.2 | 12.8 | · | 5.8 | · | |
| Quick Ratio | 1.9 | 2.5 | 3.9 | 4.7 | 4.2 | 11.2 | · | 5.7 | · | |
| Debt / Equity | · | · | 0.0 | 0.1 | 0.1 | 0.1 | · | 0.1 | · | |
| LT Debt / Equity | · | · | 0.0 | 0.0 | 0.1 | 0.1 | · | 0.1 | · | |
| Interest Coverage | · | · | · | · | · | · | · | -22.9 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.1 | 0.4 | 0.2 | 0.2 | 0.2 | · | 0.3 | · | |
| Receivables Turnover | 16.3 | 2.8 | 7.1 | 6.9 | 6.9 | 7.2 | · | 18.7 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 65.2% | -59.6% | 126.8% | 9.5% | 44.8% | · | · | · | · | |
| Revenue CAGR 3Y | 14.8% | 0.09% | 53.2% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 19.1% | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $102M | $62M | $154M | $68M | $62M | $43M | $43M | $38M | · | |
| Net Income TTM | $-191M | $-227M | $-107M | $-119M | $-106M | $-32M | $-119M | $-35M | · | |
| Market Cap | $99M | $152M | $262M | $465M | $689M | $993M | · | $206M | · | |
| Enterprise Value | · | · | $-68M | $179M | $554M | $691M | · | $12M | · | |
| P/E | -0.5 | -0.1 | -2.4 | -3.4 | -6.5 | -21.9 | · | · | · | |
| P/S | 1.0 | 2.4 | 1.7 | 6.9 | 11.1 | 23.2 | · | 5.4 | · | |
| P/B | -0.7 | 3.4 | 1.7 | 2.1 | 2.7 | 3.0 | · | 1.6 | · | |
| P / Tangible Book | · | 3.4 | 1.7 | 2.1 | 2.7 | 3.0 | · | · | · | |
| P / Cash Flow | -0.6 | -0.8 | -2.3 | 130.9 | -8.4 | -14.6 | · | 16.2 | · | |
| P / FCF | · | · | · | · | · | · | · | 18.5 | · | |
| EV / EBITDA | · | · | 0.8 | -1.4 | -5.9 | -10.4 | · | -0.4 | · | |
| EV / FCF | · | · | · | · | · | · | · | 1.0 | · | |
| EV / Revenue | · | · | -0.4 | 2.6 | 8.9 | 16.2 | · | 0.3 | · | |
| Earnings Yield | -194.4% | -1597.8% | -41.5% | -29.1% | -15.4% | -4.6% | · | · | · |
Income Statement 13
| 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 | $10M | $15M | $12M | $10M | $64M | $17M | $15M | $9M | $26M | $13M | $114M | $17M | $10M | $13M | $9M | $25M | |
| R&D Expense | $32M | $37M | $37M | $40M | $38M | $52M | $71M | $62M | $62M | $57M | $54M | $46M | $42M | $39M | $43M | $32M | |
| SG&A Expense | $8M | $8M | $9M | $9M | $10M | $13M | $9M | $14M | $12M | $13M | $17M | $15M | $15M | $16M | $15M | $15M | |
| Operating Expenses | $40M | $44M | $50M | $58M | $67M | $86M | $80M | $76M | $74M | $70M | $71M | $61M | $57M | $55M | $58M | $46M | |
| Operating Income | $-30M | $-30M | $-38M | $-48M | $-3M | $-69M | $-65M | $-68M | $-49M | $-57M | $43M | $-44M | $-46M | $-42M | $-49M | $-21M | |
| Pretax Income | $-39M | $-38M | $-47M | $-57M | $-12M | $-76M | $-70M | $-49M | $-48M | $-58M | $47M | $-47M | $-38M | $-50M | $-35M | $-19M | |
| Income Tax | $1.0K | $-15.0K | $-82.0K | $0 | $-18.0K | $7.0K | $2M | $0 | $8.0K | · | $16M | $2M | $151.0K | $395.0K | $0 | $0 | |
| Net Income | $-39M | $-38M | $-47M | $-57M | $-11M | $-76M | $-72M | $-49M | $-48M | $-58M | $31M | $-49M | $-39M | $-50M | $-35M | $-19M | |
| EPS (Basic) | $-2.33 | $-2.94 | $-20.77 | $-0.67 | $-1.35 | $-9.08 | $-27.63 | $-0.59 | $-0.59 | $-0.59 | $0.52 | $-0.81 | $-0.64 | $-0.85 | $-0.59 | $-0.37 | |
| EPS (Diluted) | $-2.33 | $-2.94 | $-20.77 | $-0.67 | $-1.35 | $-9.08 | $-27.63 | $-0.59 | $-0.59 | $-0.59 | $0.52 | $-0.81 | $-0.64 | $-0.85 | $-0.59 | $-0.37 | |
| Shares (Basic) | 16,571,602 | 13,082,355 | -244,058,204 | 84,869,864 | 8,511,985 | 8,364,294 | -216,989,358 | 82,043,671 | 81,224,628 | 61,457,793 | -119,498,390 | 60,599,025 | 60,339,475 | 58,723,432 | -95,063,345 | 52,345,732 | |
| Shares (Diluted) | 16,571,602 | 13,082,355 | -244,058,204 | 84,869,864 | 8,511,985 | 8,364,294 | -216,989,358 | 82,043,671 | 81,224,628 | 61,457,793 | -119,498,390 | 60,599,025 | 60,339,475 | 58,723,432 | -95,063,345 | 52,345,732 | |
| EBITDA | $-30M | $-28M | · | $-48M | $-3M | $-67M | · | $-68M | $-49M | $-55M | · | $-44M | $-46M | $-41M | · | $-21M |
Balance Sheet 23
| 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 | $54M | $74M | $58M | $66M | $64M | $106M | $190M | $175M | $91M | $65M | $69M | $82M | $235M | $62M | $47M | $97M | |
| Short-term Investments | $110M | $129M | $83M | $102M | $141M | $143M | $127M | $214M | $285M | $202M | $264M | $239M | $123M | $189M | · | $191M | |
| Receivables | $6M | $12M | $4M | $4M | $8M | $14M | $9M | $7M | $7M | $31M | $36M | $17M | $10M | $10M | · | $11M | |
| Prepaid Expense | $6M | $6M | $6M | $11M | $18M | $25M | $18M | $11M | $11M | $10M | $10M | $9M | $10M | $18M | · | $11M | |
| Current Assets | $176M | $221M | $151M | $182M | $232M | $287M | $343M | $406M | $443M | $355M | $422M | $381M | $412M | $304M | · | $347M | |
| PP&E (Net) | $8M | $9M | $11M | $13M | $15M | $17M | $18M | $19M | $19M | $21M | $22M | $22M | $24M | $24M | · | $24M | |
| PP&E (Gross) | · | · | $38M | · | · | · | $67M | · | · | · | $64M | · | · | · | · | · | |
| Accum. Depreciation | · | · | $27M | · | · | · | $49M | · | · | · | $42M | · | · | · | · | · | |
| Other Non-current Assets | $1M | $1M | $495.0K | $0 | $50.0K | $85.0K | $7M | $7M | $5M | $6M | $4M | $3M | $3M | $3M | · | $2M | |
| Total Assets | $194M | $242M | $174M | $210M | $262M | $321M | $387M | $452M | $489M | $403M | $471M | $432M | $465M | $358M | · | $401M | |
| Accounts Payable | $3M | $5M | $8M | $7M | $4M | $8M | $10M | $6M | $6M | $8M | $9M | $6M | $4M | $5M | · | $12M | |
| Accrued Liabilities | $6M | $5M | $15M | $13M | $12M | $12M | $13M | $13M | $10M | $7M | $15M | $11M | $10M | $6M | · | $10M | |
| Current Liabilities | $53M | $71M | $75M | $72M | $74M | $133M | $132M | $131M | $130M | $80M | $94M | $74M | $67M | $59M | · | $58M | |
| Capital Leases | $4M | $6M | $8M | $10M | $12M | $14M | $16M | $18M | $20M | $21M | $23M | $25M | $27M | $28M | · | $31M | |
| Other Non-current Liabilities | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | · | · | · | $133.0K | |
| Total Liabilities | $298M | $309M | $306M | $297M | $294M | $347M | $343M | $341M | $337M | $305M | $321M | $319M | $310M | $173M | · | $171M | |
| Total Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $7M | |
| Common Stock | $17.0K | $17.0K | $9.0K | $85.0K | $85.0K | $84.0K | $8.0K | $82.0K | $82.0K | $62.0K | $61.0K | $61.0K | $60.0K | $60.0K | · | $55.0K | |
| Retained Earnings | $-1.05B | $-1.02B | $-978M | $-931M | $-874M | $-863M | $-787M | $-714M | $-666M | $-618M | $-559M | $-590M | $-541M | $-503M | · | $-418M | |
| AOCI | $-58.0K | $-101.0K | $19.0K | $33.0K | $-13.0K | $-9.0K | $39.0K | $106.0K | $-163.0K | $-113.0K | $21.0K | $7.0K | $16.0K | $-107.0K | · | $-1M | |
| Stockholders' Equity | $-103M | $-67M | $-132M | $-87M | $-32M | $-26M | $45M | $111M | $152M | $98M | $150M | $112M | $155M | $185M | $217M | $230M | |
| Liabilities + Equity | $194M | $242M | $174M | $210M | $262M | $321M | $387M | $452M | $489M | $403M | $471M | $432M | $465M | $358M | · | $401M | |
| Shares Outstanding | 16,576,205 | 16,566,803 | 8,584,309 | 85,101,749 | 84,720,047 | 84,349,041 | 8,306,398 | 82,395,350 | 81,861,584 | 62,456,546 | 61,009,829 | 60,900,704 | 60,471,041 | 60,161,801 | · | 54,631,360 |
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 | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | |
| Stock-based Comp | $2M | $2M | $2M | $2M | $5M | $6M | $6M | $7M | $6M | $6M | $6M | $6M | $7M | $6M | $6M | $7M | |
| Restructuring | · | $0 | $1M | $3M | $1M | $8M | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $-7M | · | · | · | $647.0K | · | · | · | $-14M | · | · | · | $-19M | · | · | |
| Operating Cash Flow | $-38M | $-42M | $-26M | $-38M | $-45M | $-68M | $-72M | $-65M | $9M | $-65M | $14M | $-34M | $-31M | $-61M | $-24M | $66M | |
| Investing Cash Flow | $19M | $-45M | $19M | $40M | $3M | $-16M | $87M | $147M | $-80M | $64M | $-24M | $-114M | $66M | $67M | $-38M | $-78M | |
| Stock Issued | · | · | $0 | $0 | · | · | $0 | $0 | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-418.0K | $103M | $-64.0K | $102.0K | $-60.0K | $66.0K | $-24.0K | $1M | $96M | $-3M | $-3M | $-6M | $138M | $9M | $12M | $30M | |
| Net Change in Cash | $-19M | $16M | $-8M | $2M | $-42M | $-84M | $16M | $84M | $26M | $-4M | $-13M | $-153M | $173M | $15M | $-50M | $18M | |
| Taxes Paid | $1.0K | $-15.0K | $64.0K | $0 | $4.0K | $7.0K | $2M | $2.0K | $15M | $10.0K | · | · | · | · | · | · |
Profitability 7
| 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 | -303.8% | -204.2% | · | -499.9% | -5.2% | -393.8% | · | -797.2% | -189.4% | -435.1% | · | -260.1% | -443.5% | -333.3% | · | -84.3% | |
| Net Margin | -391.6% | -265.0% | · | -586.6% | -18.0% | -436.6% | · | -572.6% | -186.8% | -447.5% | · | -291.2% | -370.0% | -394.9% | · | -77.5% | |
| Pretax Margin | -391.6% | -265.1% | · | -586.6% | -18.1% | · | · | -572.6% | -186.8% | -447.5% | · | -280.3% | -368.6% | -391.8% | · | -77.5% | |
| EBITDA Margin | -303.8% | -195.4% | · | -499.9% | -5.2% | -382.9% | · | -797.2% | -189.4% | -421.5% | · | -260.1% | -443.5% | -320.5% | · | -84.3% | |
| ROA | -16.9% | -13.7% | · | -17.2% | -3.1% | -21.0% | · | -11.0% | -10.1% | -15.3% | · | -11.8% | -9.1% | -15.1% | · | -5.1% | |
| ROE | 56.9% | 83.0% | · | -474.8% | -19.1% | -210.4% | · | -43.6% | -31.3% | -41.1% | · | -28.8% | -21.2% | -24.7% | · | -7.6% | |
| ROIC | 28.9% | 44.3% | · | 55.5% | 10.4% | · | · | -61.1% | -32.0% | · | · | -40.7% | -30.0% | -23.0% | · | · |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.3 | 3.1 | · | 2.5 | 3.1 | 2.2 | · | 3.1 | 3.4 | 4.5 | · | 5.2 | 6.1 | 5.1 | · | 5.9 | |
| Quick Ratio | 3.2 | 3.0 | · | 2.4 | 2.9 | 2.0 | · | 3.0 | 2.9 | 3.8 | · | 4.6 | 5.5 | 4.4 | · | 5.1 | |
| Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 0.0 | |
| LT Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 0.0 |
Efficiency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | · | 0.0 | 0.2 | 0.0 | · | 0.0 | 0.1 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | |
| Receivables Turnover | 1.4 | 1.1 | · | 1.8 | 8.5 | 0.8 | · | 0.7 | 3.0 | 0.6 | · | 1.2 | 0.2 | 1.2 | · | 2.1 |
Valuation (TTM) 12
| 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 | $98M | $105M | · | $99M | $115M | $65M | · | $64M | $66M | $53M | · | $65M | $76M | $72M | · | $68M | |
| Net Income TTM | $-145M | $-183M | · | $-193M | $-184M | $-231M | · | $-204M | $-194M | $-196M | · | $-157M | $-134M | $-135M | · | $-116M | |
| Market Cap | $550M | $413M | · | $74M | $60M | $55M | · | $285M | $240M | $353M | · | $211M | $281M | $278M | · | $303M | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $23M | |
| P/E | -4.6 | -1.9 | · | -0.4 | -0.3 | -0.2 | · | -1.3 | -1.1 | -2.0 | · | -1.3 | -1.9 | -1.8 | · | -2.3 | |
| P/S | 5.6 | 3.9 | · | 0.7 | 0.5 | 0.8 | · | 4.4 | 3.6 | 6.7 | · | 3.2 | 3.7 | 3.9 | · | 4.5 | |
| P/B | -5.3 | -6.2 | · | -0.8 | -1.9 | -2.1 | · | 2.6 | 1.6 | 3.6 | · | 1.9 | 1.8 | 1.5 | · | 1.3 | |
| P / Tangible Book | · | · | · | · | · | · | · | 2.6 | 1.6 | 3.6 | · | 1.9 | 1.8 | 1.5 | · | 1.3 | |
| P / Cash Flow | · | -9.8 | · | · | · | -0.8 | · | · | · | -5.5 | · | · | · | -4.6 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | -1.1 | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 0.3 | |
| Earnings Yield | -22.0% | -51.5% | · | -265.5% | -314.1% | -412.3% | · | -74.6% | -89.8% | -51.1% | · | -77.0% | -51.8% | -56.5% | · | -43.8% |
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 | $102M | $62M | $154M | $68M | $62M |
| Operating Margin % | -154.5% | -384.3% | -58.1% | -190.3% | -159.2% |
| Net Income | $-191M | $-227M | $-107M | $-119M | $-106M |
| Diluted EPS | $-22.49 | $-29.40 | $-1.78 | $-2.35 | $-2.29 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.0 | 0.1 | 0.1 |
| Current Ratio | 2.0 | 2.6 | 4.5 | 5.3 | 5.2 |
| Quick Ratio | 1.9 | 2.5 | 3.9 | 4.7 | 4.2 |
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Institutional owners (13F) 111 filers · $467.3M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 46 (+21 vs prior Q) | 16 (+8 vs prior Q) | 20 (0 vs prior Q) | 19 (+5 vs prior Q) | +1.3M |
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 |
|---|---|---|---|---|
| PERCEPTIVE ADVISORS LLC | $43,320,887 | 1,304,846 | 9.27% | Shares |
| BVF INC/IL | $41,559,362 | 1,251,788 | 8.89% | Shares |
| Affinity Asset Advisors, LLC | $38,926,568 | 1,172,487 | 8.33% | Shares |
| SAMSARA BIOCAPITAL, LLC | $35,287,350 | 1,062,872 | 7.55% | Shares |
| Kynam Capital Management, LP | $28,968,926 | 872,558 | 6.20% | Shares |
| ORBIMED ADVISORS LLC | $24,698,941 | 743,944 | 5.29% | Shares |
| Balyasny Asset Management L.P. | $23,610,578 | 711,162 | 5.05% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $23,048,071 | 694,219 | 4.93% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $19,430,698 | 585,262 | 4.16% | Shares |
| Velan Capital Investment Management LP | $17,003,712 | 512,160 | 3.64% | Shares |
| Woodline Partners LP | $15,206,563 | 458,029 | 3.25% | Shares |
| ADAR1 Capital Management, LLC | $13,413,265 | 404,014 | 2.87% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,150,270 | 365,972 | 2.60% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $11,027,500 | 332,057 | 2.36% | Shares |
| STATE STREET CORP | $10,158,503 | 305,979 | 2.17% | Shares |
| Merck & Co., Inc. | $9,042,053 | 272,351 | 1.93% | Shares |
| ACUTA CAPITAL PARTNERS, LLC | $8,972,333 | 270,251 | 1.92% | Shares |
| AMERIPRISE FINANCIAL INC | $8,123,011 | 244,669 | 1.74% | Shares |
| Point72 Asset Management, L.P. | $7,895,856 | 237,827 | 1.69% | Shares |
| KVP Capital Advisors, LP | $7,522,290 | 226,575 | 1.61% | Shares |
| TWO SIGMA INVESTMENTS, LP | $6,696,042 | 201,688 | 1.43% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,559,058 | 197,562 | 1.40% | Shares |
| UBS Group AG | $5,407,251 | 162,869 | 1.16% | Shares |
| Seven Fleet Capital Management LP | $3,794,182 | 159,118 | 0.81% | Shares |
| Qube Research & Technologies Ltd | $3,539,452 | 106,610 | 0.76% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $3,460,502 | 104,232 | 0.74% | Shares |
| CITADEL ADVISORS LLC | $3,385,205 | 101,964 | 0.72% | Shares |
| MACKENZIE FINANCIAL CORP | $3,146,264 | 94,767 | 0.67% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $2,865,957 | 86,324 | 0.61% | Shares |
| MARSHALL WACE, LLP | $2,448,865 | 73,761 | 0.52% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,855,183 | 55,879 | 0.40% | Shares |
| Squarepoint Ops LLC | $1,843,895 | 55,539 | 0.39% | Shares |
| XTX Topco Ltd | $1,732,011 | 52,169 | 0.37% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,636,826 | 49,302 | 0.35% | Shares |
| Sigma Planning Corp | $1,494,664 | 45,020 | 0.32% | Shares |
| Fisher Asset Management, LLC | $1,171,794 | 35,295 | 0.25% | Shares |
| Elmind Capital, LP | $1,063,628 | 32,037 | 0.23% | Shares |
| D. E. Shaw & Co., Inc. | $1,000,250 | 30,128 | 0.21% | Shares |
| GOLDMAN SACHS GROUP INC | $975,814 | 29,392 | 0.21% | Shares |
| Trexquant Investment LP | $917,515 | 27,636 | 0.20% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $909,116 | 27,383 | 0.19% | Shares |
| BANK OF AMERICA CORP /DE/ | $863,897 | 26,021 | 0.18% | Shares |
| RHUMBLINE ADVISERS | $684,845 | 20,628 | 0.15% | Shares |
| JPMORGAN CHASE & CO | $625,079 | 18,743 | 0.13% | Shares |
| BlackRock, Inc. | $595,276 | 17,930 | 0.13% | Shares |
| SEI INVESTMENTS CO | $544,048 | 16,387 | 0.12% | Shares |
| Informed Momentum Co LLC | $538,902 | 16,232 | 0.12% | Shares |
| DEUTSCHE BANK AG\ | $516,692 | 15,563 | 0.11% | Shares |
| RBF Capital, LLC | $507,030 | 15,272 | 0.11% | Shares |
| WELLS FARGO & COMPANY/MN | $449,661 | 13,544 | 0.10% | Shares |
| AJU IB Investment Co., Ltd. | $435,925 | 17,500 | 0.09% | Shares |
| Bank of New York Mellon Corp | $434,522 | 13,088 | 0.09% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $368,520 | 11,100 | 0.08% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $365,200 | 11,000 | 0.08% | Put option |
| MetLife Investment Management, LLC | $312,113 | 9,401 | 0.07% | Shares |
| Walleye Capital LLC | $308,959 | 9,306 | 0.07% | Shares |
| Integrated Quantitative Investments LLC | $296,775 | 8,939 | 0.06% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $279,743 | 8,426 | 0.06% | Shares |
| Lighthouse Investment Partners, LLC | $277,818 | 8,368 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $242,792 | 7,313 | 0.05% | Shares |
| ALLIANCEBERNSTEIN L.P. | $242,360 | 7,300 | 0.05% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $232,433 | 7,001 | 0.05% | Shares |
| Persistent Asset Partners Ltd | $218,091 | 6,569 | 0.05% | Shares |
| CITIGROUP INC | $216,995 | 6,536 | 0.05% | Shares |
| Verdad Advisers, LP | $212,480 | 6,400 | 0.05% | Shares |
| Invesco Ltd. | $211,119 | 6,359 | 0.05% | Shares |
| HSBC HOLDINGS PLC | $205,722 | 6,234 | 0.04% | Shares |
| TWO SIGMA ADVISERS, LP | $203,401 | 17,580 | 0.04% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $185,920 | 5,600 | 0.04% | Shares |
| MORGAN STANLEY | $181,870 | 5,478 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $180,774 | 5,445 | 0.04% | Shares |
| Police & Firemen's Retirement System of New Jersey | $156,173 | 4,704 | 0.03% | Shares |
| Nuveen, LLC | $131,837 | 3,971 | 0.03% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $119,520 | 3,600 | 0.03% | Shares |
| Nuveen Asset Management, LLC | $103,678 | 56,347 | 0.02% | Shares |
| BARCLAYS PLC | $84,228 | 2,537 | 0.02% | Shares |
| NORTHERN TRUST CORP | $83,100 | 2,503 | 0.02% | Shares |
| State of Wyoming | $53,718 | 1,618 | 0.01% | Shares |
| Legal & General Group Plc | $51,394 | 1,548 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $48,074 | 1,448 | 0.01% | Shares |
| FMR LLC | $44,388 | 1,337 | 0.01% | Shares |
| Russell Investments Group, Ltd. | $42,330 | 1,275 | 0.01% | Shares |
| VANGUARD GROUP INC | $36,307 | 3,138 | 0.01% | Shares |
| Tower Research Capital LLC (TRC) | $28,751 | 866 | 0.01% | Shares |
| Point72 Asia (Singapore) Pte. Ltd. | $26,943 | 31,026 | 0.01% | Shares |
| CWM, LLC | $24,487 | 983 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $23,000 | 687 | 0.00% | Shares |
| Owl Creek Wealth Partners LLC | $16,302 | 491 | 0.00% | Shares |
| ACADIAN ASSET MANAGEMENT LLC | $12,405 | 373,839 | 0.00% | Shares |
| Sterling Capital Management LLC | $9,329 | 281 | 0.00% | Shares |
| Quantbot Technologies LP | $6,673 | 201 | 0.00% | Shares |
| Physician Wealth Advisors, Inc. | $6,043 | 182 | 0.00% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $3,718 | 112 | 0.00% | Shares |
| OSAIC HOLDINGS, INC. | $3,320 | 100 | 0.00% | Shares |
| PNC Financial Services Group, Inc. | $2,058 | 62 | 0.00% | Shares |
| Fortitude Family Office, LLC | $1,859 | 56 | 0.00% | Shares |
| Bogart Wealth, LLC | $1,660 | 50 | 0.00% | Shares |
| Parallel Advisors, LLC | $1,560 | 47 | 0.00% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $1,461 | 44 | 0.00% | Shares |
| Accredited Wealth Management, LLC | $869 | 5 | 0.00% | Shares |
Company insiders 27 insiders · 14 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William J Newell | CEO | March 3, 2023 M | 164,816 | 0 | 0 | $0 |
| Gregory K. Chow | CFO | June 2, 2026 M | 4,725 | 0 | 0 | $0 |
| Edward C Albini | CFO and Secretary | March 3, 2023 M | 87,693 | 0 | 0 | $0 |
| Jane Chung | President and COO | Dec. 1, 2023 A | 31,698 | 0 | 0 | $0 |
| Hans-Peter Gerber | Chief Scientific Officer | Sept. 18, 2023 A | — | 0 | 0 | $0 |
| Brunilda Shtylla | Chief Business Officer | Aug. 28, 2023 S | 0 | 0 | 0 | $0 |
| Nicki Vasquez | Chief Port. Strat & Alnce Ofcr | July 12, 2023 M | 24,988 | 0 | 0 | $0 |
| Venkatesh Srinivasan | Chief Tech Op Officer | May 1, 2023 A | — | 0 | 0 | $0 |
| Trevor Hallam | Pres. Rsrch & Cf. Sctific Ofcr | April 14, 2023 M | 100,368 | 0 | 0 | $0 |
| Anne Elizabeth Borgman | Chief Medical Officer | March 15, 2023 A | — | 0 | 0 | $0 |
| Anik Shabbir | Chief Technical Ops. Officer | March 3, 2023 M | 40,827 | 0 | 0 | $0 |
| Linda A Fitzpatrick | Chief People & Comm. Officer | March 3, 2023 M | 52,690 | 0 | 0 | $0 |
| Arturo Molina MD | Chief Medical Officer | March 5, 2022 M | 37,736 | 0 | 0 | $0 |
| Stephen Worsley | Chief Business Officer | Jan. 29, 2019 A | — | 0 | 0 | $0 |
| Heidi Hunter | Director | June 5, 2026 A | — | 0 | 0 | $0 |
| Michael Dybbs | Director | June 5, 2026 A | — | 0 | 0 | $0 |
| Jon Marc Wigginton | Director | June 5, 2026 A | — | 0 | 0 | $0 |
| Sukhi Jagpal | Director | June 5, 2026 A | — | 0 | 0 | $0 |
| Joseph M Lobacki | Director | June 5, 2026 A | — | 0 | 0 | $0 |
| Daniel H Petree | Director | June 5, 2026 A | 18,601 | 0 | 0 | $0 |
| Connie Matsui | Director | June 5, 2026 A | 50,000 | 1 | 0 | $40,000 |
| James P Panek | Director | June 5, 2026 A | — | 0 | 0 | $0 |
| John Gordon Freund | Director | June 8, 2023 A | 56,327 | 0 | 0 | $0 |
| Shalini Sharp | Director | June 6, 2022 A | — | 0 | 0 | $0 |
| Daniel Janney | Director | June 17, 2019 A | 1,944,901 | 0 | 0 | $0 |
| Michael Jay Ross | Director | Oct. 1, 2018 C | 18,248 | 0 | 0 | $0 |
| Bryan V Lawlis | Director | Sept. 26, 2018 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
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 |
|---|---|---|---|---|---|
| SVLSF V, LLC, SV Life Sciences Fund V, L.P., SV Life Sciences Fund V Strategic Partners, L.P., SV Life Sciences Fund V (GP), L.P., ILSF III, LLC, International Life Sciences Fund III (GP), L.P., International Life Sciences Fund III Co-Investment, L.P., International Life Sciences Fund III (LP1), L.P., International Life Sciences Fund III Strategic Partners, L.P. | Oct. 9, 2018 | — | 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 15 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 … | 0.43% | 3,826 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.25% | 28,745 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.09% | 54,216 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 11,715 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 121,308 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 91,894 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 16,520 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 398,610 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 177,152 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 47,358 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.00% | 22,665 SH | Aug. 8, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 29,451 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 501,524 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,670 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 1,330 SH | Aug. 8, 2026 | Daily |