TRDA Entrada Therapeutics, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ 10-K/10-Q Aug 5, 2026
$4.41
· of 52w range
· above low
· to high
$4.1152w low
$16.4552w high
Market Cap (MRQ)
$172M
P/E (TTM)
-1.1
EPS (TTM)
$-3.97
Revenue (TTM)
$5M
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52W Range
$4–$16
Analyst Rating
BUY
Price Target
$19
P/E
-1.1
ROE
-54.1%
Net Profit Margin
-3537.7%
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TRDA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$4.41
Market Cap (MRQ)
$172M
P/E (TTM)
-1.1
EPS (TTM)
$-3.97
Revenue (TTM)
$5M
ROE (TTM)
-54.1%
52W Range
$4–$16
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$25M2023-12-31 → 2025-12-31
EPS$-3.472020-12-31 → 2025-12-31
Free Cash Flow$-130M2021-12-31 → 2025-12-31
Net margin-3537.7%2023-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | TRDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -1.15Y avg ≈-14.9 | ≈-14.9 | · | · | |
| P/S (TTM) | 36.65Y avg ≈7.5 | ≈7.5 | 36.6 | Pricier | |
| P/B (MRQ) | 0.75Y avg ≈1.7 | ≈1.7 | 3.6 | Undervalued | |
| Price / FCF (TTM) | -1.35Y avg ≈-5.9 | ≈-5.9 | · | · | |
| Price / Cash Flow (TTM) | -1.35Y avg ≈-6.4 | ≈-6.4 | · | · | |
| Price / Tangible Book | 0.65Y avg ≈1.7 | ≈1.7 | · | · |
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 | TRDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -3767.1%5Y avg ≈-200.4% | ≈-200.4% | -312.3% | Weak | |
| EBITDA Margin | -621.1%5Y avg ≈-200.4% | ≈-200.4% | -303.8% | Weak | |
| Net Profit Margin (TTM) | -3537.7%5Y avg ≈-179.8% | ≈-179.8% | -391.6% | Weak | |
| ROA (TTM) | -44.3%5Y avg ≈-12.4% | ≈-12.4% | -30.6% | In line | |
| ROE (TTM) | -54.1%5Y avg ≈-18.6% | ≈-18.6% | -30.2% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | TRDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 10.95Y avg ≈17.6 | ≈17.6 | 8.6 | Strong liquidity | |
| Quick Ratio | 3.75Y avg ≈12.5 | ≈12.5 | 5.1 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | TRDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -87.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | TRDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.3 | ≈0.3 | 0.1 | Weak | |
| Revenue / Employee | ≈$167.2K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
8.8%
Next Report
Nov 04, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $-1.01 | $-1.07 | 5.7% |
| March 31, 2026 | $-0.95 | $-1.06 | 10.2% | |
| Dec. 31, 2025 | $-0.94 | $-1.17 | 19.9% | |
| Sept. 30, 2025 | $-1.06 | $-0.96 | -10.6% | |
| June 30, 2025 | $-1.04 | $-0.86 | -20.3% | |
| March 31, 2025 | $-0.42 | $-0.80 | 47.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | $25M | $211M | $129M | |
| R&D Expense | $142M | $125M | $100M | |
| SG&A Expense | $41M | $38M | $32M | |
| Operating Expenses | $183M | $164M | $132M | |
| Operating Income | $-158M | $47M | $-3M | |
| Other Non-op | $15M | $19M | $15M | |
| Income Tax | $924.0K | $859.0K | $19M | |
| Net Income | $-144M | $66M | $-7M | |
| EPS (Basic) | $-3.47 | $1.76 | $-0.20 | |
| EPS (Diluted) | $-3.47 | $1.68 | $-0.20 | |
| Shares (Basic) | 41,371,486 | 37,306,363 | 33,050,319 | |
| Shares (Diluted) | 41,371,486 | 39,003,169 | 33,050,319 | |
| EBITDA | $-158M | $47M | $-3M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash & Equivalents | $90M | $101M | $68M | |
| Prepaid Expense | $9M | $16M | $12M | |
| Current Assets | $306M | $440M | $370M | |
| PP&E (Net) | $7M | $11M | $11M | |
| PP&E (Gross) | $17M | $20M | $17M | |
| Accum. Depreciation | $10M | $9M | $6M | |
| Other Non-current Assets | $70.0K | $284.0K | $3M | |
| Total Assets | $377M | $526M | $469M | |
| Accounts Payable | $2M | $4M | $3M | |
| Accrued Liabilities | $18M | $13M | $11M | |
| Current Liabilities | $24M | $39M | $159M | |
| Capital Leases | $47M | $52M | $60M | |
| Total Liabilities | $71M | $98M | $227M | |
| Common Stock | $4.0K | $4.0K | $3.0K | |
| Paid-in Capital | $579M | $558M | $437M | |
| Retained Earnings | $-273M | $-129M | $-195M | |
| AOCI | $652.0K | $-43.0K | $195.0K | |
| Stockholders' Equity | $306M | $429M | $242M | |
| Liabilities + Equity | $377M | $526M | $469M | |
| Shares Outstanding | 38,284,221 | 37,574,538 | 33,437,296 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Stock-based Comp | $20M | $18M | $13M | |
| Deferred Tax | $0 | $0 | $0 | |
| Operating Cash Flow | $-129M | $-42M | $140M | |
| CapEx | $1M | $3M | $6M | |
| Investing Cash Flow | $117M | $-28M | $-138M | |
| Financing Cash Flow | $887.0K | $103M | $21M | |
| Net Change in Cash | $-11M | $34M | $22M | |
| Taxes Paid | $2M | $5M | $15M | |
| Free Cash Flow | $-130M | $-45M | $134M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Operating Margin | -621.1% | 22.3% | -2.5% | |
| Net Margin | -565.5% | 31.1% | -5.2% | |
| EBITDA Margin | -621.1% | 22.3% | -2.5% | |
| ROA | -31.8% | 13.2% | -1.8% | |
| ROE | -41.9% | 15.4% | -2.7% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Current Ratio | 12.5 | 11.1 | 2.3 | |
| Quick Ratio | 3.7 | 2.6 | 0.4 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.4 | 0.4 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Book Value / Share | $8.00 | $11.41 | $7.25 | |
| Revenue / Share | $0.61 | $5.40 | $3.90 | |
| Cash Flow / Share | $-3.11 | $-1.07 | $4.23 | |
| Cash / Share | $2.36 | $2.69 | $2.02 | |
| EPS (TTM) | $-3.47 | $1.68 | $-0.20 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue YoY | -87.9% | 63.4% | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue TTM | $25M | $211M | $129M | |
| Net Income TTM | $-144M | $66M | $-7M | |
| Market Cap | $394M | $650M | $505M | |
| P/E | -3.0 | 10.3 | -75.5 | |
| P/S | 15.5 | 3.1 | 3.9 | |
| P/B | 1.3 | 1.5 | 2.1 | |
| P / Tangible Book | 1.3 | 1.5 | 2.1 | |
| P / Cash Flow | -3.1 | -15.6 | 3.6 | |
| P / FCF | -3.0 | -14.5 | 3.8 | |
| Earnings Yield | -33.8% | 9.7% | -1.3% |
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 | $898.0K | $875.0K | $1M | $2M | $2M | $21M | $37M | $20M | $95M | $59M | $42M | $44M | $18M | $25M | · | $0 | |
| R&D Expense | $35M | $33M | $34M | $38M | $38M | $32M | $33M | $31M | $32M | $29M | $28M | $22M | $26M | $23M | $16M | $19M | |
| SG&A Expense | $10M | $10M | $10M | $10M | $11M | $10M | $10M | $10M | $9M | $9M | $9M | $8M | $8M | $8M | $10M | $7M | |
| Operating Expenses | $46M | $43M | $44M | $49M | $49M | $42M | $43M | $41M | $41M | $38M | $37M | $30M | $34M | $31M | $26M | $26M | |
| Operating Income | $-45M | $-42M | $-42M | $-47M | $-47M | $-22M | $-6M | $-22M | $53M | $21M | $5M | $14M | $-16M | $-6M | $-26M | $-26M | |
| Other Non-op | $2M | $3M | $3M | $4M | $4M | $4M | $5M | $6M | $4M | $4M | $4M | $4M | $4M | $3M | $950.0K | $799.0K | |
| Income Tax | $35.0K | $38.0K | $92.0K | $654.0K | $178.0K | $0 | $-2M | $-2M | $3M | $2M | $19M | $-17M | $14M | $4M | $0 | $0 | |
| Net Income | $-43M | $-40M | $-39M | $-44M | $-43M | $-17M | $1M | $-14M | $55M | $23M | $-10M | $35M | $-26M | $-7M | $-25M | $-25M | |
| EPS (Basic) | $-1.01 | $-0.95 | $-0.95 | $-1.06 | $-1.04 | $-0.42 | $-0.20 | $-0.35 | $1.61 | $0.70 | $-0.28 | $1.07 | $-0.78 | $-0.21 | $-0.79 | $-0.80 | |
| EPS (Diluted) | $-1.01 | $-0.95 | $-0.95 | $-1.06 | $-1.04 | $-0.42 | $-0.20 | $-0.35 | $1.55 | $0.68 | $-0.23 | $1.02 | $-0.78 | $-0.21 | $-0.79 | $-0.80 | |
| Shares (Basic) | 42,221,665 | 41,836,275 | · | 41,462,567 | 41,338,752 | 41,073,732 | · | 40,629,602 | 34,180,549 | 33,497,072 | · | 33,281,287 | 33,163,320 | 32,374,299 | · | 31,298,052 | |
| Shares (Diluted) | 42,221,665 | 41,836,275 | · | 41,462,567 | 41,338,752 | 41,073,732 | · | 40,629,602 | 35,507,029 | 34,790,925 | · | 34,775,451 | 33,163,320 | 32,374,299 | · | 31,298,052 | |
| EBITDA | $-45M | $-42M | · | $-47M | $-47M | $-22M | · | $-22M | $53M | $21M | · | $14M | $-16M | · | · | $-26M |
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 | $99M | $76M | $90M | $93M | $72M | $68M | $101M | $78M | $185M | $68M | $68M | $52M | $80M | $228M | $45M | $53M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $162M | |
| Prepaid Expense | $9M | $11M | $9M | $10M | $14M | $19M | $16M | $13M | $12M | $9M | $12M | $24M | $10M | $16M | $21M | $19M | |
| Current Assets | $233M | $267M | $306M | $338M | $369M | $403M | $440M | $465M | $490M | $414M | $370M | $383M | $390M | $434M | $210M | $235M | |
| PP&E (Net) | $6M | $7M | $7M | $8M | $10M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $9M | $8M | $7M | |
| PP&E (Gross) | $16M | $17M | $17M | $19M | $21M | $21M | $20M | $19M | $19M | $18M | $17M | $16M | $15M | $13M | $11M | $10M | |
| Accum. Depreciation | $11M | $10M | $10M | $10M | $11M | $10M | $9M | $8M | $8M | $7M | $6M | $5M | $4M | $4M | $3M | $3M | |
| Other Non-current Assets | $118.0K | $90.0K | $70.0K | $163.0K | $199.0K | $239.0K | $284.0K | $746.0K | $747.0K | $3M | $3M | $3M | $538.0K | $14M | $5M | $954.0K | |
| Total Assets | $299M | $336M | $377M | $413M | $449M | $486M | $526M | $555M | $582M | $511M | $469M | $485M | $494M | $476M | $252M | $274M | |
| Accounts Payable | $4M | $3M | $2M | $3M | $2M | $2M | $4M | $1M | $2M | $3M | $3M | $752.0K | $2M | $6M | $6M | $1M | |
| Accrued Liabilities | $13M | $12M | $18M | $16M | $12M | $8M | $13M | $13M | $11M | $9M | $11M | $10M | $7M | $12M | $8M | $12M | |
| Current Liabilities | $21M | $19M | $24M | $24M | $20M | $18M | $39M | $71M | $86M | $174M | $159M | $165M | $126M | $148M | $22M | $22M | |
| Capital Leases | $44M | $45M | $47M | $48M | $49M | $50M | $52M | $54M | $56M | $58M | $60M | $62M | $66M | $9M | $18M | $20M | |
| Total Liabilities | $65M | $65M | $71M | $72M | $69M | $69M | $98M | $132M | $152M | $241M | $227M | $238M | $287M | $246M | $40M | $41M | |
| Common Stock | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | |
| Paid-in Capital | $589M | $583M | $579M | $574M | $569M | $564M | $558M | $552M | $547M | $441M | $437M | $433M | $429M | $425M | $403M | $400M | |
| Retained Earnings | $-356M | $-313M | $-273M | $-234M | $-190M | $-147M | $-129M | $-130M | $-116M | $-171M | $-195M | $-185M | $-221M | $-195M | $-188M | $-164M | |
| AOCI | $66.0K | $246.0K | $652.0K | $621.0K | $400.0K | $437.0K | $-43.0K | $972.0K | $-329.0K | $-246.0K | $195.0K | $-496.0K | $-1M | $-642.0K | $-2M | $-3M | |
| Stockholders' Equity | $233M | $271M | $306M | $341M | $380M | $417M | $429M | $422M | $430M | $269M | $242M | $247M | $207M | $230M | $213M | $233M | |
| Liabilities + Equity | $299M | $336M | $377M | $413M | $449M | $486M | $526M | $555M | $582M | $511M | $469M | $485M | $494M | $476M | $252M | $274M | |
| Shares Outstanding | 38,936,669 | 38,820,616 | 38,284,221 | 38,219,232 | 38,033,970 | 37,942,283 | 37,574,538 | 37,400,499 | 37,172,496 | 33,604,053 | 33,437,296 | 33,340,216 | 33,205,693 | 33,133,736 | 31,394,767 | 31,325,373 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $5M | $5M | $4M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | |
| Operating Cash Flow | $-32M | $-42M | $-32M | $-28M | $-29M | $-39M | $-32M | $-24M | $40M | $-26M | $-4M | $-24M | $-35M | $203M | $-27M | $-27M | |
| CapEx | $11.0K | $44.0K | $-207.0K | $-171.0K | $275.0K | $1M | $635.0K | $639.0K | $1M | $838.0K | $976.0K | $1M | $2M | $2M | $708.0K | $810.0K | |
| Investing Cash Flow | $55M | $27M | $29M | $49M | $34M | $5M | $53M | $-83M | $-24M | $26M | $19M | $-4M | $-113M | $-40M | $19M | $-10M | |
| Stock Issued | · | · | · | $0 | · | · | · | $-392.0K | $100M | $0 | · | $0 | $0 | $19M | · | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | $0 | · | · | · | · | · | · | |
| Financing Cash Flow | $350.0K | $100.0K | $192.0K | $8.0K | $337.0K | $350.0K | $1M | $-11.0K | $101M | $206.0K | $690.0K | $368.0K | $443.0K | $20M | $358.0K | $60.0K | |
| Net Change in Cash | $23M | $-15M | $-3M | $21M | $5M | $-33M | $23M | $-107M | $117M | $834.0K | $16M | $-28M | $-148M | $182M | $-8M | $-38M | |
| Free Cash Flow | · | $-42M | · | · | · | $-40M | · | · | · | $-26M | · | · | · | · | · | · |
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 | -5007.0% | -4834.6% | · | -2915.2% | -2402.5% | -106.0% | · | -110.7% | 56.4% | 35.7% | · | 32.0% | -89.7% | · | · | · | |
| Net Margin | -4762.0% | -4539.1% | · | -2734.4% | -2210.4% | -84.4% | · | -71.7% | 58.1% | 39.7% | · | 81.1% | -142.7% | · | · | · | |
| EBITDA Margin | -5007.0% | -4834.6% | · | -2915.2% | -2402.5% | -106.0% | · | -110.7% | 56.4% | 35.7% | · | 32.0% | -89.7% | · | · | · | |
| ROA | -11.4% | -9.7% | · | -9.1% | -8.4% | -3.5% | · | -2.7% | 10.2% | 4.8% | · | 9.3% | -6.6% | · | · | -12.4% | |
| ROE | -14.0% | -11.5% | · | -11.6% | -10.7% | -5.1% | · | -4.2% | 17.3% | 9.4% | · | 14.8% | -11.2% | · | · | -31.3% |
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 | 10.9 | 13.9 | · | 14.1 | 18.6 | 21.9 | · | 6.6 | 5.7 | 2.4 | · | 2.3 | 3.1 | · | · | 10.9 | |
| Quick Ratio | 4.6 | 4.0 | · | 3.9 | 3.7 | 3.7 | · | 1.1 | 2.2 | 0.4 | · | 0.3 | 0.6 | · | · | 10.0 |
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 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.2 | 0.1 | · | 0.1 | 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 | $5.99 | $6.98 | · | $8.91 | $9.98 | $11.00 | · | $11.30 | $11.57 | $8.02 | · | $7.40 | $6.23 | · | · | $7.45 | |
| Revenue / Share | $0.02 | $0.02 | · | $0.04 | $0.05 | $0.50 | · | $0.48 | $2.67 | $1.70 | · | $1.26 | $0.55 | · | · | · | |
| Cash Flow / Share | · | $-1.00 | · | · | · | $-0.94 | · | · | · | $-0.73 | · | · | · | · | · | · | |
| Cash / Share | $2.55 | $1.97 | · | $2.44 | $1.91 | $1.79 | · | $2.09 | $4.98 | $2.04 | · | $1.56 | $2.40 | · | · | $1.70 | |
| EPS (TTM) | $-3.97 | $-4.00 | · | $-2.72 | $-2.01 | $0.58 | · | $1.65 | $3.02 | $0.69 | · | $-0.76 | $-2.58 | $-2.44 | · | $13.62 |
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 | $5M | $6M | · | $62M | $79M | $172M | · | $215M | $239M | $163M | · | · | · | $25M | · | · | |
| Net Income TTM | $-166M | $-166M | · | $-103M | $-73M | $25M | · | $55M | $104M | $23M | · | $-22M | $-82M | $-77M | · | $-88M | |
| Market Cap | $287M | $490M | · | $222M | $256M | $343M | · | $598M | $530M | $476M | · | $527M | $503M | · | · | $494M | |
| P/E | -1.9 | -3.2 | · | -2.1 | -3.3 | 15.6 | · | 9.7 | 4.7 | 20.5 | · | -20.8 | -5.9 | -5.9 | · | 1.2 | |
| P/S | 61.2 | 85.4 | · | 3.6 | 3.2 | 2.0 | · | 2.8 | 2.2 | 2.9 | · | · | · | · | · | · | |
| P/B | 1.2 | 1.8 | · | 0.7 | 0.7 | 0.8 | · | 1.4 | 1.2 | 1.8 | · | 2.1 | 2.4 | · | · | 2.1 | |
| P / Tangible Book | 1.2 | 1.8 | · | 0.7 | 0.7 | 0.8 | · | 1.4 | 1.2 | 1.8 | · | 2.1 | 2.4 | 2.1 | · | 2.1 | |
| P / Cash Flow | · | -11.8 | · | · | · | -8.9 | · | · | · | -18.7 | · | · | · | · | · | · | |
| Earnings Yield | -53.9% | -31.7% | · | -46.9% | -29.9% | 6.4% | · | 10.3% | 21.2% | 4.9% | · | -4.8% | -17.0% | -16.8% | · | 86.4% |
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 | $25M | $211M | $129M | · | · |
| Operating Margin % | -621.1% | 22.3% | -2.5% | · | · |
| Net Income | $-144M | $66M | $-7M | $-95M | $-51M |
| Diluted EPS | $-3.47 | $1.68 | $-0.20 | $-3.02 | $-8.16 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 12.5 | 11.1 | 2.3 | · | 44.5 |
| Quick Ratio | 3.7 | 2.6 | 0.4 | · | 43.3 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-130M | $-45M | $134M | · | $-55M |
Institutional owners (13F) 135 filers · $253.8M total · As of Sept. 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
135
Value held
$253.8M
New positions
28
Exited positions
16
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 28 (+6 vs prior Q) | 16 (+4 vs prior Q) | 53 (+6 vs prior Q) | 31 (+1 vs prior Q) | +2.9M |
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 |
|---|---|---|---|---|
| BAKER BROS. ADVISORS LP | $37,335,293 | 5,072,730 | 14.71% | Shares |
| 5AM Venture Management, LLC | $29,854,949 | 4,056,379 | 11.76% | Shares |
| MPM ASSET MANAGEMENT LLC | $25,410,160 | 4,381,062 | 10.01% | Shares |
| BlackRock, Inc. | $19,013,332 | 2,583,333 | 7.49% | Shares |
| VANGUARD GROUP INC | $16,781,689 | 1,632,460 | 6.61% | Shares |
| Merck & Co., Inc. | $12,804,692 | 1,739,768 | 5.05% | Shares |
| StepStone Group LP | $9,607,316 | 761,277 | 3.79% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $9,344,506 | 1,269,634 | 3.68% | Shares |
| MPM BIOIMPACT LLC | $9,222,470 | 1,253,053 | 3.63% | Shares |
| TCG Crossover Management, LLC | $7,803,293 | 1,060,230 | 3.07% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $7,024,524 | 954,419 | 2.77% | Shares |
| MILLENNIUM MANAGEMENT LLC | $5,622,738 | 763,959 | 2.22% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $5,281,368 | 717,430 | 2.08% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $5,148,591 | 699,537 | 2.03% | Shares |
| STATE STREET CORP | $4,391,543 | 596,677 | 1.73% | Shares |
| JPMORGAN CHASE & CO | $3,827,683 | 496,457 | 1.51% | Shares |
| CITADEL ADVISORS LLC | $2,902,217 | 394,323 | 1.14% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $2,769,577 | 376,136 | 1.09% | Shares |
| NORTHERN TRUST CORP | $2,281,173 | 309,942 | 0.90% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $2,233,458 | 303,459 | 0.88% | Shares |
| Nantahala Capital Management, LLC | $2,212,232 | 300,575 | 0.87% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,870,397 | 254,130 | 0.74% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,450,921 | 197,136 | 0.57% | Shares |
| Longaeva Partners L.P. | $1,436,944 | 195,237 | 0.57% | Shares |
| MORGAN STANLEY | $1,410,544 | 191,650 | 0.56% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,405,760 | 191,000 | 0.55% | Shares |
| Quantinno Capital Management LP | $1,389,855 | 188,839 | 0.55% | Shares |
| Lynx1 Capital Management LP | $1,314,540 | 178,606 | 0.52% | Shares |
| GOLDMAN SACHS GROUP INC | $1,305,247 | 177,343 | 0.51% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,233,875 | 167,646 | 0.49% | Shares |
| Woodline Partners LP | $1,071,616 | 145,600 | 0.42% | Shares |
| Trexquant Investment LP | $1,031,452 | 140,143 | 0.41% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $772,800 | 105,000 | 0.30% | Shares |
| Cubist Systematic Strategies, LLC | $711,521 | 122,676 | 0.28% | Shares |
| XTX Topco Ltd | $701,680 | 95,337 | 0.28% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $699,524 | 95,044 | 0.28% | Shares |
| Allspring Global Investments Holdings, LLC | $688,440 | 93,538 | 0.27% | Shares |
| ROYCE & ASSOCIATES LP | $610,159 | 82,902 | 0.24% | Shares |
| AMERICAN CENTURY COMPANIES INC | $586,599 | 79,701 | 0.23% | Shares |
| Bank of New York Mellon Corp | $581,955 | 79,070 | 0.23% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $533,747 | 72,520 | 0.21% | Shares |
| AMERIPRISE FINANCIAL INC | $518,107 | 70,395 | 0.20% | Shares |
| Qube Research & Technologies Ltd | $448,018 | 60,872 | 0.18% | Shares |
| CANTOR FITZGERALD, L. P. | $441,600 | 60,000 | 0.17% | Shares |
| BANK OF AMERICA CORP /DE/ | $426,343 | 57,927 | 0.17% | Shares |
| Nuveen, LLC | $417,879 | 56,777 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $399,297 | 31,640 | 0.16% | Shares |
| Susquehanna Portfolio Strategies, LLC | $398,272 | 54,113 | 0.16% | Shares |
| TD Asset Management Inc | $394,408 | 53,588 | 0.16% | Shares |
| ExodusPoint Capital Management, LP | $388,365 | 52,767 | 0.15% | Shares |
Activists & 5%+ owners 5 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 |
|---|---|---|---|---|---|
| ANSBERT GADICKE, LUKE EVNIN, MPM ASSET MANAGEMENT INVESTORS BV2018 LLC, MPM Asset Management Investors BV2014 LLC, MPM BIOVENTURES 2018 (B), L.P., MPM BIOVENTURES 2018, L.P., MPM BioVentures 2014 (B), L.P., MPM BioVentures 2014 GP LLC, MPM BioVentures 2014 LLC, MPM BioVentures 2014, L.P., MPM BioVentures 2018 GP LLC, MPM BioVentures 2018 LLC, Todd Foley | Sept. 10, 2026 | 9.90% | Amendment | · | SEC |
| 5AM Ventures V, L.P., 5AM Partners V, LLC, 5AM Opportunities I, L.P., 5AM Opportunities I (GP), LLC, Andrew J. Schwab, Kush Parmar, Scott M. Rocklage | Nov. 18, 2025 | 10.80% | Amendment | · | SEC |
| Baker Bros. Advisors LP, Baker Bros. Advisors (GP) LLC, Felix J. Baker, Julian C. Baker ×2 filings | June 26, 2024 | · | Initial filing | Passive investment | SEC |
| MPM BioVentures 2014, L.P., MPM BioVentures 2014 (B), L.P., MPM Asset Management Investors BV2014 LLC, MPM BioVentures 2018, L.P., MPM BioVentures 2018 (B), L.P., MPM Asset Management Investors BV2018 LLC, MPM BioVentures 2014 GP LLC, MPM BioVentures 2014 LLC, MPM BioVentures 2018 GP LLC, MPM BioVentures 2018 LLC, Ansbert Gadicke, Luke Evnin, Todd Foley, Edward Hurwitz | Nov. 12, 2021 | · | Initial filing | Passive investment | SEC |
| 5AM Partners V, LLC, 5AM Opportunities I, L.P., 5AM Opportunities I (GP), LLC, Andrew J. Schwab, Dr. Kush Parmar, Dr. Scott M. Rocklage | Nov. 12, 2021 | · | 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 14 insiders · 5 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Dipal Doshi | CEO | Sept. 2, 2026 F | 517,290 | 0 | 0 | $0 |
| Kory James Wentworth | Chief Financial Officer | Sept. 2, 2026 F | 117,277 | 0 | 5 | $-433,579 |
| Natarajan Sethuraman | President, Research & Develop. | Sept. 2, 2026 F | 214,238 | 0 | 1 | $-398,709 |
| Nathan J Dowden | President & COO | Sept. 2, 2026 F | 196,060 | 0 | 3 | $-425,737 |
| Nerissa Kreher | Chief Medical Officer | Sept. 1, 2023 A | 40,037 | 0 | 0 | $0 |
| Kush Parmar | Director | Aug. 10, 2026 S | 2,691,337 | 0 | 6 | $-3,645,964 |
| Maha Radhakrishnan | Director | June 10, 2026 A | · | 0 | 0 | $0 |
| Gina Chapman | Director | June 10, 2026 A | · | 0 | 0 | $0 |
| Bernhardt G Zeiher | Director | June 10, 2026 A | 5,000 | 1 | 0 | $29,300 |
| Mary Thistle | Director | June 10, 2026 A | · | 0 | 0 | $0 |
| Peter S Kim | Director | June 10, 2026 A | 117,412 | 0 | 0 | $0 |
| John F Crowley | Director | June 8, 2023 A | 5,000 | 0 | 0 | $0 |
| Carole Nuechterlein | Director | June 2, 2022 A | · | 0 | 0 | $0 |
| Todd Foley | Director | June 2, 2022 A | 4,425,784 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 23 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IBRN · iShares Trust | 0.15% | 1,770 SH | Sept. 11, 2026 | Daily |
| HAPS · Harbor ETF Trust | 0.13% | 33,369 NS | July 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.04% | 100,286 SH | Sept. 11, 2026 | Daily |
| IBB · iShares Trust | 0.01% | 203,253 SH | Sept. 11, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.01% | 2,925 SH | Oct. 23, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 169,170 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 25,636 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 14,068 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 753,989 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 34,287 SH | Oct. 23, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 108,498 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 2,856 NS | July 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.00% | 12,272 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 3,020 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 4,231 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 4,896 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 7,674 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 283,038 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 953,727 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 1,999 SH | Aug. 19, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 2,069 NS | July 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.00% | 57,325 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 269,374 SH | Sept. 11, 2026 | Daily |
TRDA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 14 analysts
BUY
Median target
$20.00
+353.5%
5 35.7%
Strong Buy
7 50.0%
Buy
2 14.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
4 analysts · 2026-10-24Mean target $19.00 +330.8%
← Below all targets
Current price $4.41
Low$11.00
Mean$19.00
High$25.00
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 |
|---|---|---|---|---|---|---|
| TRDA | $394M | -3.0 | -87.9% | -565.5% | -41.9% | · |
| RNA | $10.91B | -14.5 | 72.1% | -3650.4% | -47.5% | · |
| IVVD | $697M | -8.2 | 110.5% | -98.2% | -36.9% | · |
| KRRO | $75M | -0.6 | 181.5% | -1834.5% | -140.8% | · |
| PEPG | $448M | -3.1 | · | · | -82.0% | · |
| SION | $1.84B | -21.9 | · | · | -23.4% | · |
| ALXO | $61M | -0.6 | · | · | -225.0% | · |
| AKBA | $427M | -80.5 | 47.5% | -2.3% | -17.3% | · |
| CHRS | $172M | 1.0 | 59.8% | 398.4% | 185.8% | · |
| STRO | $99M | -0.5 | 65.2% | -186.5% | 232.2% | · |
| NBP | $1.06B | -19.0 | · | · | -21.4% | · |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Source: SEC 10-Q filed Aug 5, 2026