VNDA Vanda Pharmaceuticals Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$4.63
· of 52w range
· above low
· to high
$4.2752w low
$9.9452w high
Market Cap (MRQ)
$280M
P/E (TTM)
-1.0
EPS (TTM)
$-4.64
Revenue (TTM)
$216M
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52W Range
$4–$10
Analyst Rating
BUY
Price Target
$12
P/E
-1.0
ROE
-77.8%
Net Profit Margin
-127.4%
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VNDA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$4.63
Market Cap (MRQ)
$280M
P/E (TTM)
-1.0
EPS (TTM)
$-4.64
Revenue (TTM)
$216M
ROE (TTM)
-77.8%
52W Range
$4–$10
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$216M2016-12-31 → 2025-12-31
EPS$-3.742016-12-31 → 2025-12-31
Free Cash Flow$-110M2016-12-31 → 2025-12-31
Net margin-127.4%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | VNDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -1.05Y avg ≈36.6 | ≈36.6 | · | · | |
| P/S (TTM) | 1.35Y avg ≈2.0 | ≈2.0 | 48.4 | Undervalued | |
| P/B (MRQ) | 1.35Y avg ≈1.0 | ≈1.0 | 1.7 | Undervalued | |
| Price / FCF (TTM) | -2.05Y avg ≈5.0 | ≈5.0 | · | · | |
| Price / Cash Flow (TTM) | -2.05Y avg ≈4.7 | ≈4.7 | · | · | |
| Price / Tangible Book (MRQ) | 2.65Y avg ≈1.3 | ≈1.3 | · | · |
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 | VNDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -86.1%5Y avg ≈-15.9% | ≈-15.9% | -374.9% | Top tier | |
| EBITDA Margin | -70.0%5Y avg ≈-15.9% | ≈-15.9% | -372.6% | Top tier | |
| Pretax Margin (TTM) | -82.1%5Y avg ≈-10.4% | ≈-10.4% | -123.5% | In line | |
| Net Profit Margin (TTM) | -127.4%5Y avg ≈-19.1% | ≈-19.1% | -353.6% | Top tier | |
| ROA (TTM) | -53.0%5Y avg ≈-6.8% | ≈-6.8% | -35.9% | Weak | |
| ROE (TTM) | -77.8%5Y avg ≈-9.9% | ≈-9.9% | -51.9% | Weak | |
| ROIC | -73.5%5Y avg ≈-14.7% | ≈-14.7% | -41.9% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | VNDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 1.65Y avg ≈4.8 | ≈4.8 | 7.5 | Low liquidity | |
| Quick Ratio | 1.05Y avg ≈1.5 | ≈1.5 | 6.1 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | VNDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 8.7%5Y avg ≈-1.9% | ≈-1.9% | · | · | |
| Revenue CAGR 3Y | -5.3%5Y avg ≈-7.6% | ≈-7.6% | · | · | |
| Revenue CAGR 5Y | -2.7% | · | · | · | |
| EPS YoY | -63.6%5Y avg ≈-35.5% | ≈-35.5% | · | · | |
| Net Income YoY | -60.0%5Y avg ≈-33.0% | ≈-33.0% | · | · | |
| EPS CAGR 3Y | -54.3% | · | · | · | |
| Net Income CAGR 3Y | -52.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | VNDA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.4 | ≈0.4 | 0.1 | Top tier | |
| Receivables Turnover | 4.35Y avg ≈6.2 | ≈6.2 | · | · | |
| Revenue / Employee | ≈$405.5K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-2.5%
Next Report
Oct 27, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 29, 2026 | $-1.04 | $-0.60 | -73.5% |
| March 31, 2026 | $-0.82 | $-0.70 | -16.8% | |
| Dec. 31, 2025 | $-0.46 | $-1.35 | 66.0% | |
| Sept. 30, 2025 | $-0.38 | $-0.46 | 17.8% | |
| June 30, 2025 | $-0.46 | $-0.36 | -26.4% | |
| March 31, 2025 | $-0.50 | $-0.61 | 17.8% |
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 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $216M | $199M | $193M | $254M | $269M | $248M | $227M | $193M | $165M | $146M | $110M | $50M | |
| Cost of Revenue | · | · | · | · | · | · | · | · | · | · | $23M | $2M | |
| R&D Expense | $109M | $74M | $77M | $86M | $75M | $56M | $49M | $44M | $39M | $29M | $29M | $19M | |
| SG&A Expense | $238M | $146M | $113M | $136M | $124M | $141M | $130M | $106M | $124M | $100M | $85M | $85M | |
| Operating Expenses | $367M | $239M | $207M | $248M | $227M | $221M | $204M | $171M | $182M | $165M | $150M | $30M | |
| Operating Income | $-151M | $-41M | $-14M | $6M | $42M | $27M | $23M | $22M | $-17M | $-19M | $-40M | $20M | |
| Pretax Income | $-139M | $-23M | $6M | $11M | $42M | $32M | $29M | $25M | $-15M | $-18M | $-40M | $20M | |
| Income Tax | $82M | $-4M | $4M | $5M | $9M | $8M | $-87M | $138.0K | $136.0K | $104.0K | $0 | $0 | |
| Net Income | $-220M | $-19M | $3M | $6M | $33M | $23M | $116M | $25M | $-16M | $-18M | $-40M | $20M | |
| EPS (Basic) | $-3.74 | $-0.33 | $0.04 | $0.11 | $0.60 | $0.43 | $2.17 | $0.50 | $-0.35 | $-0.41 | $-0.94 | $0.58 | |
| EPS (Diluted) | $-3.74 | $-0.33 | $0.04 | $0.11 | $0.58 | $0.42 | $2.11 | $0.48 | $-0.35 | $-0.41 | $-0.94 | $0.55 | |
| Shares (Basic) | 58,930,157 | 58,149,087 | 57,380,975 | 56,461,877 | 55,548,122 | 54,427,683 | 53,137,562 | 50,859,947 | 44,735,146 | 43,449,441 | 42,250,254 | 34,774,163 | |
| Shares (Diluted) | 58,930,157 | 58,149,087 | 57,557,911 | 56,983,171 | 56,921,836 | 55,190,802 | 54,847,060 | 53,045,257 | 44,735,146 | 43,449,441 | 42,250,254 | 36,686,723 | |
| EBITDA | $-151M | $-41M | $-14M | $6M | $42M | $27M | $23M | $22M | $-17M | $-19M | $-40M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $85M | $102M | $136M | $135M | $52M | $61M | $45M | $61M | $34M | $40M | $51M | $61M | |
| Receivables | $55M | $47M | $34M | $34M | $32M | $30M | $26M | $29M | $18M | $20M | $16M | $4M | |
| Inventory | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $994.0K | $840.0K | $779.0K | $1M | $5M | |
| Prepaid Expense | $27M | $15M | $9M | $18M | $12M | $10M | $14M | $12M | $8M | $12M | $6M | $3M | |
| Other Current Assets | · | · | · | · | · | · | · | · | $3M | $2M | $979.0K | $154.0K | |
| Current Assets | $347M | $439M | $433M | $519M | $478M | $409M | $354M | $299M | $170M | $174M | $167M | $142M | |
| PP&E (Net) | $2M | $2M | $2M | $3M | $3M | $4M | $4M | $4M | $5M | $5M | $5M | $2M | |
| PP&E (Gross) | $15M | $14M | $13M | $13M | $12M | $12M | $10M | $10M | $10M | $8M | $7M | $4M | |
| Accum. Depreciation | $13M | $12M | $11M | $10M | $9M | $8M | $7M | $5M | $4M | $3M | $2M | $2M | |
| Intangibles | $117M | $114M | $121M | $19M | $20M | $22M | $23M | $25M | $26M | $28M | $39M | $27M | |
| Other Non-current Assets | · | · | · | · | · | · | · | · | · | · | · | $28.0K | |
| Total Assets | $489M | $656M | $648M | $634M | $594M | $533M | $484M | $332M | $205M | $210M | $213M | $172M | |
| Accounts Payable | $68M | $39M | $38M | $46M | $34M | $32M | $28M | $22M | $20M | $16M | $16M | $7M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | $7M | |
| Current Liabilities | $145M | $100M | $88M | $91M | $74M | $66M | $60M | $53M | $70M | $50M | $51M | $8M | |
| Capital Leases | $3M | $5M | $7M | $9M | $10M | $11M | $12M | $0 | · | · | · | · | |
| Other Non-current Liabilities | $10M | $10M | $9M | $7M | $4M | $3M | $843.0K | $4M | $4M | $4M | $4M | $3M | |
| Total Liabilities | $162M | $118M | $104M | $107M | $89M | $80M | $73M | $57M | $74M | $79M | $80M | $11M | |
| Common Stock | $59.0K | $58.0K | $58.0K | $57.0K | $56.0K | $55.0K | $54.0K | $52.0K | $45.0K | $44.0K | $43.0K | $41.0K | |
| Retained Earnings | $-395M | $-174M | $-155M | $-158M | $-164M | $-197M | $-221M | $-336M | $-361M | $-346M | $-328M | $-288M | |
| AOCI | $629.0K | $74.0K | $-30.0K | $-1M | $-175.0K | $239.0K | $249.0K | $1.0K | $-34.0K | $58.0K | $39.0K | $16.0K | |
| Stockholders' Equity | $327M | $539M | $545M | $527M | $505M | $453M | $411M | $275M | $131M | $131M | $133M | $161M | |
| Liabilities + Equity | $489M | $656M | $648M | $634M | $594M | $533M | $484M | $332M | $205M | $210M | $213M | $172M | |
| Shares Outstanding | 59,101,630 | 58,310,644 | 57,534,499 | 56,783,764 | 55,900,855 | 54,865,092 | 53,549,612 | 52,477,593 | 44,938,133 | 44,000,614 | 42,815,291 | 41,486,361 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | · | $530.0K | |
| Stock-based Comp | $9M | $12M | $14M | $16M | $15M | $13M | $13M | $12M | $10M | $9M | $8M | $6M | |
| Deferred Tax | $81M | $-6M | $-1M | $1M | $7M | $6M | $-88M | $0 | $0 | $-104.0K | · | · | |
| Amort. of Intangibles | $7M | $7M | $2M | $2M | $1M | $1M | $2M | $2M | $2M | $11M | $13M | $2M | |
| Operating Cash Flow | $-109M | $-16M | $13M | $32M | $64M | $52M | $46M | $30M | $-2M | $-8M | $12M | $-82M | |
| CapEx | $998.0K | $490.0K | $383.0K | $679.0K | $552.0K | $2M | $1M | $368.0K | $2M | $1M | $3M | $769.0K | |
| Investing Cash Flow | $95M | $-17M | $-12M | $50M | $-77M | $-41M | $-68M | $-110M | $-10M | · | · | · | |
| Stock Issued | · | · | · | · | · | $0 | $0 | $101M | $0 | $0 | · | $62M | |
| Net Stock Activity | · | · | · | · | · | $0 | $0 | $101M | · | · | · | · | |
| Financing Cash Flow | $-3M | $-155.0K | $0 | $734.0K | $4M | $6M | $6M | $107M | $5M | · | · | · | |
| Net Change in Cash | $-17M | $-34M | $792.0K | $83M | $-9M | $16M | $-16M | $27M | $-7M | $-10M | $-10M | $-4M | |
| Taxes Paid | $-90.0K | $2M | $4M | $0 | $0 | · | · | · | · | · | · | · | |
| Free Cash Flow | $-110M | $-16M | $12M | $31M | $64M | $50M | $45M | $30M | $-4M | $-10M | $10M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -70.0% | -20.5% | -7.2% | 2.5% | 15.7% | 11.0% | 10.0% | 11.3% | -10.2% | -12.7% | -36.6% | · | |
| Net Margin | -102.0% | -9.5% | 1.3% | 2.5% | 12.3% | 9.4% | 50.9% | 13.1% | -9.4% | -12.3% | -36.3% | · | |
| Pretax Margin | -64.2% | -11.5% | 3.3% | 4.4% | 15.8% | 12.8% | 12.8% | 13.1% | -9.3% | -12.3% | · | · | |
| EBITDA Margin | -70.0% | -20.5% | -7.2% | 2.5% | 15.7% | 11.0% | 10.0% | 11.3% | -10.2% | -12.7% | -36.6% | · | |
| ROA | -38.5% | -2.9% | 0.39% | 1.0% | 5.9% | 4.6% | 28.3% | 9.4% | -7.5% | -8.5% | -20.7% | · | |
| ROE | -54.2% | -3.5% | 0.46% | 1.2% | 6.6% | 5.2% | 28.5% | 9.4% | -11.8% | -13.6% | -27.1% | · | |
| ROIC | -73.5% | -6.2% | -1.0% | 0.67% | 6.5% | 4.4% | 22.1% | 7.9% | -13.0% | -14.2% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.4 | 4.4 | 4.9 | 5.7 | 6.4 | 6.2 | 6.0 | 5.6 | 2.4 | 3.5 | 3.2 | · | |
| Quick Ratio | 1.0 | 1.5 | 1.9 | 1.8 | 1.1 | 1.4 | 1.2 | 1.7 | 0.7 | 1.2 | 1.3 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.3 | 0.3 | 0.4 | 0.5 | 0.5 | 0.6 | 0.7 | 0.8 | 0.7 | 0.6 | · | |
| Inventory Turnover | · | · | · | · | · | · | · | · | · | · | 7.3 | · | |
| Receivables Turnover | 4.3 | 4.9 | 5.7 | 7.7 | 8.6 | 8.8 | 8.2 | 8.3 | 8.7 | 8.0 | 11.0 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $5.54 | $9.24 | $9.47 | $9.28 | $9.03 | $8.26 | $7.67 | $5.25 | $2.92 | $2.98 | $3.11 | · | |
| Revenue / Share | $3.67 | $3.42 | $3.35 | $4.46 | $4.72 | $4.50 | $4.14 | $3.64 | $3.69 | $3.36 | $2.60 | · | |
| Cash Flow / Share | $-1.86 | $-0.27 | $0.22 | $0.56 | $1.13 | $0.94 | $0.84 | $0.57 | $-0.04 | $-0.19 | $0.29 | · | |
| Cash / Share | $1.44 | $1.75 | $2.36 | $2.38 | $0.93 | $1.11 | $0.84 | $1.16 | $0.75 | $0.92 | $1.19 | · | |
| EPS (TTM) | $-3.74 | $-0.33 | $0.04 | $0.11 | $0.58 | $0.42 | $2.11 | $0.48 | $-0.35 | $-0.41 | $-0.94 | $0.55 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.7% | 3.2% | -24.3% | -5.3% | 8.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -5.3% | -9.6% | -8.1% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -2.7% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | -63.6% | -81.0% | 38.1% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | · | -54.3% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | -60.0% | -81.1% | 42.1% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | · | -52.4% | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $216M | $199M | $193M | $254M | $269M | $248M | $227M | $193M | $165M | $146M | $110M | $50M | |
| Net Income TTM | $-220M | $-19M | $3M | $6M | $33M | $23M | $116M | $25M | $-16M | $-18M | $-40M | $20M | |
| Market Cap | $521M | $279M | $243M | $420M | $877M | $721M | $879M | $1.37B | $683M | $702M | $399M | · | |
| P/E | -2.4 | -14.5 | 105.5 | 67.2 | 27.1 | 31.3 | 7.8 | 54.4 | -43.4 | -38.9 | -9.9 | 26.0 | |
| P/S | 2.4 | 1.4 | 1.3 | 1.6 | 3.3 | 2.9 | 3.9 | 7.1 | 4.1 | 4.8 | 3.6 | · | |
| P/B | 1.6 | 0.5 | 0.4 | 0.8 | 1.7 | 1.6 | 2.1 | 5.0 | 5.2 | 5.3 | 3.0 | · | |
| P / Tangible Book | 2.5 | 0.7 | 0.6 | 0.8 | 1.8 | 1.7 | · | · | · | · | · | · | |
| P / Cash Flow | -4.8 | -17.7 | 19.0 | 13.1 | 13.7 | 13.9 | 19.1 | 45.7 | -344.5 | -86.6 | 32.0 | · | |
| P / FCF | -4.7 | -17.2 | 19.6 | 13.4 | 13.8 | 14.4 | 19.6 | 46.3 | -187.3 | -73.8 | 40.2 | · | |
| Earnings Yield | -42.4% | -6.9% | 0.95% | 1.5% | 3.7% | 3.2% | 12.9% | 1.8% | -2.3% | -2.6% | -10.1% | 3.8% |
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 | $51M | $52M | $57M | $56M | $53M | $50M | $53M | $48M | $50M | $47M | $45M | $39M | $46M | $62M | $64M | $65M | |
| R&D Expense | $37M | $28M | $29M | $23M | $22M | $36M | $20M | $17M | $17M | $21M | $24M | $17M | $17M | $19M | $18M | $25M | |
| SG&A Expense | $72M | $68M | $63M | $60M | $65M | $50M | $39M | $38M | $39M | $30M | $24M | $25M | $28M | $36M | $33M | $30M | |
| Operating Expenses | $114M | $102M | $98M | $88M | $91M | $91M | $63M | $59M | $61M | $57M | $52M | $45M | $49M | $60M | $58M | $61M | |
| Operating Income | $-64M | $-50M | $-40M | $-31M | $-39M | $-41M | $-10M | $-11M | $-10M | $-9M | $-7M | $-6M | $-3M | $2M | $7M | $4M | |
| Pretax Income | $-62M | $-48M | $-38M | $-28M | $-35M | $-37M | $-6M | $-6M | $-6M | $-5M | $-2M | $-120.0K | $3M | $6M | $10M | $5M | |
| Income Tax | $129.0K | $143.0K | $103M | $-6M | $-8M | $-8M | $-2M | $-920.0K | $-998.0K | $-518.0K | $739.0K | $-257.0K | $1M | $2M | $3M | $2M | |
| Net Income | $-63M | $-49M | $-141M | $-23M | $-27M | $-29M | $-5M | $-5M | $-5M | $-4M | $-2M | $137.0K | $2M | $3M | $7M | $3M | |
| EPS (Basic) | $-1.04 | $-0.82 | $-2.40 | $-0.38 | $-0.46 | $-0.50 | $-0.09 | $-0.09 | $-0.08 | $-0.07 | $-0.05 | $0.00 | $0.03 | $0.06 | $0.11 | $0.06 | |
| EPS (Diluted) | $-1.04 | $-0.82 | $-2.40 | $-0.38 | $-0.46 | $-0.50 | $-0.09 | $-0.09 | $-0.08 | $-0.07 | $-0.05 | $0.00 | $0.03 | $0.06 | $0.11 | $0.06 | |
| Shares (Basic) | 60,226,570 | 59,459,982 | · | 59,091,478 | 58,993,990 | 58,527,775 | · | 58,261,961 | 58,220,838 | 57,760,940 | · | 57,519,031 | 57,453,916 | 57,011,396 | · | 56,574,503 | |
| Shares (Diluted) | 60,226,570 | 59,459,982 | · | 59,091,478 | 58,993,990 | 58,527,775 | · | 58,261,961 | 58,220,838 | 57,760,940 | · | 57,595,344 | 57,535,615 | 57,400,152 | · | 56,969,033 | |
| EBITDA | $-64M | $-50M | · | $-31M | $-39M | $-41M | · | $-11M | $-10M | $-9M | · | $-6M | $-3M | $2M | · | $4M |
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 | $56M | $54M | $85M | $70M | $81M | $112M | $102M | $100M | $103M | $125M | · | $183M | $150M | $354M | · | $49M | |
| Receivables | $60M | $57M | $55M | $51M | $45M | $45M | $47M | $43M | $42M | $37M | · | $29M | $34M | $25M | · | $29M | |
| Inventory | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | · | $1M | $1M | $1M | · | $2M | |
| Prepaid Expense | $33M | $32M | $27M | $21M | $22M | $20M | $15M | $12M | $8M | $7M | · | $16M | $9M | $7M | · | $21M | |
| Current Assets | $264M | $293M | $347M | $367M | $395M | $408M | $439M | $432M | $439M | $439M | · | $537M | $534M | $534M | · | $507M | |
| PP&E (Net) | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $3M | |
| PP&E (Gross) | · | · | $15M | · | · | · | $14M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $13M | · | · | · | $12M | · | · | · | · | · | · | · | · | · | |
| Intangibles | $113M | $115M | $117M | $109M | $111M | $112M | $114M | $116M | $118M | $119M | · | $17M | $18M | $18M | · | $19M | |
| Total Assets | $412M | $434M | $489M | $601M | $625M | $632M | $656M | $645M | $651M | $653M | · | $642M | $642M | $645M | · | $622M | |
| Accounts Payable | $70M | $61M | $68M | $48M | $57M | $45M | $39M | $39M | $40M | $38M | · | $33M | $32M | $35M | · | $50M | |
| Current Liabilities | $164M | $136M | $145M | $118M | $121M | $104M | $100M | $89M | $94M | $93M | · | $85M | $87M | $94M | · | $93M | |
| Capital Leases | $15M | $3M | $3M | $3M | $4M | $4M | $5M | $5M | $6M | $7M | · | $7M | $8M | $8M | · | $9M | |
| Other Non-current Liabilities | $10M | $10M | $10M | $11M | $10M | $9M | $10M | $9M | $9M | $9M | · | $6M | $6M | $7M | · | $5M | |
| Total Liabilities | $192M | $153M | $162M | $135M | $138M | $121M | $118M | $104M | $109M | $109M | · | $99M | $102M | $109M | · | $106M | |
| Common Stock | $60.0K | $60.0K | $59.0K | $59.0K | $59.0K | $59.0K | $58.0K | $58.0K | $58.0K | $58.0K | · | $58.0K | $57.0K | $57.0K | · | $57.0K | |
| Retained Earnings | $-506M | $-443M | $-395M | $-254M | $-231M | $-204M | $-174M | $-169M | $-164M | $-160M | · | $-153M | $-153M | $-155M | · | $-165M | |
| AOCI | $38.0K | $212.0K | $629.0K | $540.0K | $396.0K | $383.0K | $74.0K | $702.0K | $-330.0K | $-383.0K | · | $-967.0K | $-865.0K | $-255.0K | · | $-1M | |
| Stockholders' Equity | $220M | $281M | $327M | $466M | $486M | $511M | $539M | $541M | $543M | $544M | $545M | $543M | $540M | $536M | $527M | $516M | |
| Liabilities + Equity | $412M | $434M | $489M | $601M | $625M | $632M | $656M | $645M | $651M | $653M | · | $642M | $642M | $645M | · | $622M | |
| Shares Outstanding | 60,454,687 | 60,135,062 | 59,101,630 | 59,095,630 | 59,080,630 | 58,933,982 | 58,310,644 | 58,306,144 | 58,287,308 | 58,196,523 | 57,534,499 | 57,529,499 | 57,496,913 | 57,440,992 | 56,783,764 | 56,588,548 |
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 | $2M | $3M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $4M | $3M | $3M | $3M | $4M | $4M | $4M | |
| Deferred Tax | $0 | $0 | $103M | $-6M | $-8M | $-8M | $-2M | $-3M | $-1M | $-246.0K | $-7M | $3M | $1M | $2M | $417.0K | $-2M | |
| Amort. of Intangibles | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $953.0K | $380.0K | $378.0K | $379.0K | $379.0K | $379.0K | |
| Operating Cash Flow | $-31M | $-50M | $-29M | $-32M | $-15M | $-33M | $-2M | $-15M | $-7M | $8M | $-4M | $-2M | $-13M | $32M | $9M | $13M | |
| CapEx | $190.0K | $221.0K | $102.0K | $161.0K | $299.0K | $436.0K | $214.0K | $161.0K | $108.0K | $7.0K | $253.0K | $24.0K | $55.0K | $51.0K | $263.0K | $148.0K | |
| Investing Cash Flow | $34M | $20M | $45M | $21M | $-15M | $44M | $4M | $12M | $-15M | $-18M | $-44M | $35M | $-191M | $187M | $75M | $-22M | |
| Financing Cash Flow | $-856.0K | $-776.0K | $-640.0K | $-517.0K | $-425.0K | $-1M | $-155.0K | $0 | $0 | $0 | $0 | $0 | · | · | $605.0K | $4.0K | |
| Net Change in Cash | $2M | $-31M | $15M | $-11M | $-31M | $9M | $2M | $-2M | $-22M | $-11M | $-47M | $33M | $-204M | $219M | $86M | $-9M | |
| Free Cash Flow | · | $-50M | · | · | · | $-34M | · | · | · | $8M | · | · | · | $32M | · | · |
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 | -126.3% | -97.1% | · | -55.6% | -73.2% | -82.0% | · | -23.1% | -20.1% | -19.5% | · | -15.4% | -6.2% | 3.2% | · | 6.0% | |
| Net Margin | -123.7% | -93.9% | · | -40.2% | -51.7% | -58.9% | · | -11.2% | -8.9% | -8.7% | · | 0.35% | 3.3% | 5.2% | · | 5.0% | |
| Pretax Margin | -123.5% | -93.6% | · | -50.5% | -66.3% | -74.7% | · | -13.1% | -10.9% | -9.8% | · | -0.31% | 5.6% | 8.8% | · | 8.4% | |
| EBITDA Margin | -126.3% | -97.1% | · | -55.6% | -73.2% | -82.0% | · | -23.1% | -20.1% | -19.5% | · | -15.4% | -6.2% | 3.2% | · | 6.0% | |
| ROA | -12.0% | -9.1% | · | -3.6% | -4.3% | -4.6% | · | -0.83% | -0.70% | -0.64% | · | 0.02% | 0.24% | 0.52% | · | 0.54% | |
| ROE | -17.7% | -12.3% | · | -4.5% | -5.3% | -5.6% | · | -0.98% | -0.83% | -0.77% | · | 0.03% | 0.29% | 0.63% | · | 0.65% | |
| ROIC | -29.0% | -17.9% | · | -5.3% | -6.2% | -6.3% | · | -1.7% | -1.5% | -1.5% | · | 1.3% | -0.31% | 0.22% | · | 0.45% |
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 | 1.6 | 2.2 | · | 3.1 | 3.3 | 3.9 | · | 4.9 | 4.7 | 4.7 | · | 6.3 | 6.1 | 5.7 | · | 5.5 | |
| Quick Ratio | 0.7 | 0.8 | · | 1.0 | 1.0 | 1.5 | · | 1.6 | 1.5 | 1.7 | · | 2.5 | 2.1 | 4.0 | · | 0.9 |
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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.0 | 1.0 | · | 1.2 | 1.2 | 1.2 | · | 1.3 | 1.3 | 1.6 | · | 1.3 | 1.5 | 2.3 | · | 1.8 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $3.64 | $4.67 | · | $7.89 | $8.23 | $8.68 | · | $9.28 | $9.31 | $9.35 | · | $9.44 | $9.39 | $9.33 | · | $9.11 | |
| Revenue / Share | $0.84 | $0.87 | · | $0.95 | $0.89 | $0.85 | · | $0.82 | $0.87 | $0.82 | · | $0.67 | $0.80 | $1.09 | · | $1.15 | |
| Cash Flow / Share | · | $-0.84 | · | · | · | $-0.57 | · | · | · | $0.13 | · | · | · | $0.55 | · | · | |
| Cash / Share | $0.92 | $0.90 | · | $1.18 | $1.37 | $1.90 | · | $1.72 | $1.77 | $2.15 | · | $3.18 | $2.61 | $6.17 | · | $0.87 | |
| EPS (TTM) | $-4.64 | $-4.06 | · | $-1.43 | $-1.14 | $-0.76 | · | $-0.29 | $-0.20 | $-0.09 | · | $0.20 | $0.26 | $0.28 | · | $0.12 |
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 | $216M | $218M | · | $212M | $203M | $201M | · | $191M | $182M | $178M | · | $212M | $238M | $257M | · | $258M | |
| Net Income TTM | $-275M | $-240M | · | $-84M | $-67M | $-44M | · | $-16M | $-11M | $-5M | · | $12M | $15M | $16M | · | $6M | |
| Market Cap | $370M | $416M | · | $295M | $279M | $271M | · | $273M | $329M | $239M | · | $249M | $379M | $390M | · | $559M | |
| P/E | -1.3 | -1.7 | · | -3.5 | -4.1 | -6.0 | · | -16.2 | -28.2 | -45.7 | · | 21.6 | 25.3 | 24.2 | · | 82.3 | |
| P/S | 1.7 | 1.9 | · | 1.4 | 1.4 | 1.3 | · | 1.4 | 1.8 | 1.3 | · | 1.2 | 1.6 | 1.5 | · | 2.2 | |
| P/B | 1.7 | 1.5 | · | 0.6 | 0.6 | 0.5 | · | 0.5 | 0.6 | 0.4 | · | 0.5 | 0.7 | 0.7 | · | 1.1 | |
| P / Tangible Book | 3.5 | 2.5 | · | 0.8 | 0.7 | 0.7 | · | 0.6 | 0.8 | 0.6 | · | 0.5 | 0.7 | 0.8 | · | 1.1 | |
| P / Cash Flow | · | -8.3 | · | · | · | -8.2 | · | · | · | 31.6 | · | · | · | 12.3 | · | · | |
| Earnings Yield | -75.8% | -58.8% | · | -28.7% | -24.1% | -16.6% | · | -6.2% | -3.5% | -2.2% | · | 4.6% | 4.0% | 4.1% | · | 1.2% |
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 | $216M | $199M | $193M | $254M | $269M |
| Operating Margin % | -70.0% | -20.5% | -7.2% | 2.5% | 15.7% |
| Net Income | $-220M | $-19M | $3M | $6M | $33M |
| Diluted EPS | $-3.74 | $-0.33 | $0.04 | $0.11 | $0.58 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 2.4 | 4.4 | 4.9 | 5.7 | 6.4 |
| Quick Ratio | 1.0 | 1.5 | 1.9 | 1.8 | 1.1 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-110M | $-16M | $12M | $31M | $64M |
Institutional owners (13F) 183 filers · $326.6M 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
183
Value held
$326.6M
New positions
29
Exited positions
24
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 29 (-22 vs prior Q) | 24 (-6 vs prior Q) | 67 (+7 vs prior Q) | 57 (+15 vs prior Q) | +3.1M |
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 |
|---|---|---|---|---|
| BlackRock, Inc. | $46,840,870 | 7,653,737 | 14.34% | Shares |
| VANGUARD GROUP INC | $32,914,925 | 3,731,851 | 10.08% | Shares |
| STATE STREET CORP | $21,520,399 | 3,516,405 | 6.59% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $21,405,893 | 3,497,695 | 6.55% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $21,061,129 | 3,441,361 | 6.45% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $15,447,125 | 2,524,040 | 4.73% | Shares |
| AIGH Capital Management LLC | $12,510,315 | 2,044,169 | 3.83% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $10,572,544 | 1,727,349 | 3.24% | Shares |
| MILLENNIUM MANAGEMENT LLC | $9,809,216 | 1,602,813 | 3.00% | Shares |
| TWO SIGMA ADVISERS, LP | $9,254,826 | 1,049,300 | 2.83% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $9,082,993 | 1,483,787 | 2.78% | Shares |
| TWO SIGMA INVESTMENTS, LP | $8,256,321 | 1,349,072 | 2.53% | Shares |
| MARSHALL WACE, LLP | $7,503,094 | 1,225,996 | 2.30% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $7,425,555 | 1,213,326 | 2.27% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,921,928 | 1,131,034 | 2.12% | Shares |
| GOLDMAN SACHS GROUP INC | $6,341,911 | 1,036,260 | 1.94% | Shares |
| CITADEL ADVISORS LLC | $4,640,808 | 758,302 | 1.42% | Shares |
| Qube Research & Technologies Ltd | $4,462,777 | 729,212 | 1.37% | Shares |
| FEDERATED HERMES, INC. | $4,371,381 | 714,278 | 1.34% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $3,955,087 | 646,256 | 1.21% | Shares |
| NORTHERN TRUST CORP | $3,675,788 | 600,619 | 1.13% | Shares |
| MORGAN STANLEY | $2,925,200 | 477,974 | 0.90% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,446,880 | 399,817 | 0.75% | Shares |
| Jump Financial, LLC | $2,080,231 | 339,907 | 0.64% | Shares |
| Quantinno Capital Management LP | $1,920,383 | 313,788 | 0.59% | Shares |
| Point72 Asset Management, L.P. | $1,905,535 | 311,362 | 0.58% | Shares |
| UBS Group AG | $1,855,530 | 303,191 | 0.57% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,854,978 | 303,101 | 0.57% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,800,082 | 294,131 | 0.55% | Shares |
| JPMORGAN CHASE & CO | $1,797,326 | 292,724 | 0.55% | Shares |
| IEQ CAPITAL, LLC | $1,730,607 | 282,779 | 0.53% | Shares |
| Susquehanna Portfolio Strategies, LLC | $1,451,566 | 237,184 | 0.44% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $1,436,933 | 234,793 | 0.44% | Shares |
| Monaco Asset Management SAM | $1,354,270 | 221,286 | 0.41% | Shares |
| AMERIPRISE FINANCIAL INC | $1,326,865 | 216,808 | 0.41% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $1,317,061 | 215,206 | 0.40% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,301,621 | 212,683 | 0.40% | Shares |
| Mariner, LLC | $1,061,705 | 173,480 | 0.33% | Shares |
| Bank of New York Mellon Corp | $1,039,093 | 169,786 | 0.32% | Shares |
| Invesco Ltd. | $976,795 | 159,607 | 0.30% | Shares |
| AMERICAN CENTURY COMPANIES INC | $970,638 | 158,601 | 0.30% | Shares |
| Man Group plc | $939,769 | 153,557 | 0.29% | Shares |
| KOTLER KEVIN | $882,000 | 100,000 | 0.27% | Shares |
| KLP KAPITALFORVALTNING AS | $828,648 | 135,400 | 0.25% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $749,982 | 122,546 | 0.23% | Shares |
| Jefferies Financial Group Inc. | $749,253 | 122,427 | 0.23% | Shares |
| Trexquant Investment LP | $741,077 | 121,091 | 0.23% | Shares |
| Cerity Partners LLC | $722,020 | 117,977 | 0.22% | Shares |
| Nuveen, LLC | $719,112 | 117,502 | 0.22% | Shares |
| Corient Private Wealth LP | $626,438 | 102,359 | 0.19% | Shares |
Activists & 5%+ owners 2 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 |
|---|---|---|---|---|---|
| Tang Capital Partners, LP, Tang Capital Management, LLC, Kevin C. Tang ×3 filings | Feb. 18, 2009 | · | Initial filing | Board campaign | SEC |
| Care Capital, LLC, Care Capital II, LLC, Care Capital Offshore Investments II, LP, Care Capital Investments II, LP, Jan Leschly, David Ramsay, Argeris Karabelas | Feb. 13, 2007 | · | 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 45 insiders · 18 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Kevin Patrick Moran | SVP, CFO & Treasurer | March 2, 2026 S | 411,380 | 0 | 1 | $-350,995 |
| James Patrick Kelly | EVP & Chief Financial Officer | March 3, 2020 S | 186,869 | 0 | 0 | $0 |
| Stephanie Rast Irish | Acting CFO/Treasurer | Feb. 19, 2010 S | 2,249 | 0 | 0 | $0 |
| Steven A Shallcross | Sr. VP, CFO, Treasurer | Jan. 4, 2008 A | 0 | 0 | 0 | $0 |
| McGuire Daniel Patrick | SVP, GC and Secretary | June 4, 2026 A | 109,982 | 0 | 0 | $0 |
| Joakim Wijkstrom | SVP, Chief Marketing Officer | March 2, 2026 S | 333,469 | 0 | 1 | $-254,716 |
| Timothy Williams | SVP & General Counsel | March 2, 2026 S | 377,450 | 0 | 1 | $-350,929 |
| Gunther Birznieks | SVP, Business Development | March 2, 2026 S | 494,197 | 0 | 1 | $-350,904 |
| Aranthan Jones II | Chief Corp. Affairs Officer | Sept. 15, 2021 M | 81,980 | 0 | 0 | $0 |
| Gian Piero Reverberi | SVP & Chief Commercial Officer | March 2, 2020 S | 165,384 | 0 | 0 | $0 |
| Richard L. Gulino | SVP, General Counsel & Sec. | Feb. 28, 2018 A | 115,073 | 0 | 0 | $0 |
| Paolo Baroldi | SVP & Chief Medical Officer | Jan. 3, 2017 M | 54,365 | 0 | 0 | $0 |
| Thomas Edward Gibbs | SVP, Chief Commercial Officer | April 20, 2015 A | · | 0 | 0 | $0 |
| Robert Repella | SVP & Chief Commercial Officer | Nov. 21, 2013 M | 15,000 | 0 | 0 | $0 |
| John Joseph Feeney | SVP & Chief Medical Officer | Feb. 16, 2012 S | 11,942 | 0 | 0 | $0 |
| William D Clark | Sr. VP, Chief Business Officer | Feb. 19, 2010 S | 168,279 | 0 | 0 | $0 |
| Albert W. Gianchetti | Sr.VP,Chief Commercial Officer | Jan. 4, 2008 A | 3,000 | 0 | 0 | $0 |
| Deepak Shripad Phadke | Vice President Manufacturing | Dec. 12, 2006 M | 0 | 0 | 0 | $0 |
| Charles Cliff Duncan | Director | June 4, 2026 A | 98,701 | 0 | 0 | $0 |
| Tage Honore | Director | June 4, 2026 A | 135,069 | 0 | 1 | $-240,900 |
| Stephen Ray Mitchell | Director | June 4, 2026 A | 112,846 | 0 | 0 | $0 |
| Anne Sempowski Ward | Director | June 4, 2026 A | 160,667 | 0 | 0 | $0 |
| Phaedra Chrousos | Director | June 4, 2026 A | 164,950 | 0 | 0 | $0 |
| Richard W Dugan | Director | June 4, 2026 A | 219,054 | 0 | 0 | $0 |
| Thomas Watkins | Director | June 2, 2022 M | 63,064 | 0 | 0 | $0 |
| Michael F Cola | Director | June 13, 2019 A | 15,000 | 0 | 0 | $0 |
| Vincent Milano | Director | June 13, 2018 A | 10,000 | 0 | 0 | $0 |
| Kenneth Bate | Director | June 15, 2017 A | 5,000 | 0 | 0 | $0 |
| Howard H Pien | Director | June 18, 2015 A | · | 0 | 0 | $0 |
| Steven K Galson | Director | May 22, 2014 A | · | 0 | 0 | $0 |
| Argeris N Karabelas | Director | June 16, 2011 A | 0 | 0 | 0 | $0 |
| Brian K Halak | Director | March 26, 2010 J | 7,276 | 0 | 0 | $0 |
| James B Tananbaum | Director | May 16, 2007 A | 11,041 | 0 | 0 | $0 |
| Wayne T Hockmeyer | Director | April 18, 2006 C | 1,601,798 | 0 | 0 | $0 |
| DP VI Associates, L.P. | 10% owner | Dec. 12, 2006 S | 21,068 | 0 | 0 | $0 |
| Domain Partners VI, L.P. | 10% owner | Dec. 12, 2006 J | 1,954,450 | 0 | 0 | $0 |
| Robert J More | 10% owner | Dec. 12, 2006 S | 21,068 | 0 | 0 | $0 |
| Kathleen K Schoemaker | 10% owner | Dec. 12, 2006 S | 21,068 | 0 | 0 | $0 |
| Brian H Dovey | 10% owner | Dec. 12, 2006 S | 21,068 | 0 | 0 | $0 |
| Nicole Vitullo | 10% owner | Dec. 12, 2006 S | 21,068 | 0 | 0 | $0 |
| BLAIR JAMES C | 10% owner | Dec. 12, 2006 S | 21,068 | 0 | 0 | $0 |
| TREU JESSE I | 10% owner | Dec. 12, 2006 S | 21,068 | 0 | 0 | $0 |
| MEDIMMUNE INC /DE | 10% owner | April 18, 2006 C | 1,601,798 | 0 | 0 | $0 |
| Mihael Hristos Polymeropoulos | · | March 2, 2026 S | 2,704,496 | 0 | 1 | $-1,276,440 |
| David Russ Ramsay | · | March 12, 2010 S | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 30 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 … | 0.47% | 22,213 SH | Oct. 1, 2026 | Daily |
| IBRN · iShares Trust | 0.30% | 4,456 SH | Sept. 11, 2026 | Daily |
| HAPS · Harbor ETF Trust | 0.15% | 51,449 NS | July 31, 2026 | N-PORT |
| VFMF · VANGUARD WELLINGTON FUND | 0.09% | 101,215 SH | Aug. 19, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.08% | 77,872 NS | July 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.08% | 256,365 SH | Aug. 19, 2026 | Daily |
| IWC · iShares Trust | 0.06% | 182,510 SH | Sept. 11, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 38,117 NS | July 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 127,772 SH | Oct. 1, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.02% | 1,064 NS | July 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.02% | 429,035 SH | Sept. 11, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 46,913 SH | Aug. 19, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.02% | 4,278 SH | Oct. 1, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 309,952 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,378,144 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 25,631 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 188,354 NS | July 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.00% | 63,637 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 2,824 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 162,080 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 6,317 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 118,715 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 15,271 SH | Sept. 3, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 10,453 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 12,885 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 703,477 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,761,840 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 5,171 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.00% | 155,868 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 513,341 SH | Sept. 11, 2026 | Daily |
VNDA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 10 analysts
BUY
Median target
$11.00
+137.6%
2 20.0%
Strong Buy
6 60.0%
Buy
2 20.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-09-28Mean target $11.75 +153.8%
← Below all targets
Current price $4.63
Low$5.75
Mean$11.75
High$20.00
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 |
|---|---|---|---|---|---|---|
| VNDA | $521M | -2.4 | 8.7% | -102.0% | -54.2% | · |
| LRMR | $317M | -2.2 | · | · | -167.4% | · |
| PRLD | · | -2.2 | 73.4% | -819.6% | -137.7% | · |
| LXEO | $725M | -5.3 | · | · | -51.9% | · |
| ABEO | $290M | 5.2 | 147.5% | 1223.1% | 44.1% | · |
| RCKT | · | · | · | · | · | · |
| IKT | $270M | -4.2 | 111.0% | -1299.0% | -38.2% | · |
| FATE | $113M | -0.9 | -51.2% | -2051.1% | -58.2% | · |
| IPSC | $87M | -7.1 | 1556.8% | -8.8% | -5.2% | · |
| UPB | $1.47B | -10.2 | 20.4% | -5026.0% | -38.3% | · |
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Source: SEC 10-Q filed Aug 6, 2026