VOR Vor Biopharma Inc. - Common Stock
$24.23
Price · Aug 19, 2026
Fundamentals as of Aug 11, 2026
52W Range
$6–$50
41% of range
Analyst Rating
BUY
13 analysts
Price Target
$39
+61% upside
P/E (TTM)
-0.5
ROE
83.4%
Net Profit Margin
—
VOR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$24.23
Market Cap
$1.31B
P/E (TTM)
-0.5
EPS (TTM)
$-70.50
Revenue (TTM)
—
Div Yield
0.00%
ROE
83.4%
Debt/Equity
—
52W Range
$7 – $50
VOR 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
—
EPS
$-70.50
2021-12-31
→
2025-12-31
Free Cash Flow
$-144M
2021-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VOR
Peer Median
P/E (TTM)
-0.5
—
P/B
-8.0
5.2
Price / FCF
-9.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VOR
Peer Median
ROA
-229.3%
-44.7%
ROE
83.4%
-51.5%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VOR
Peer Median
Current Ratio
18.2
9.5
Quick Ratio
18.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VOR
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VOR
Peer Median
Payout Ratio
0.00%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.00%
Payout Ratio
0.00%
5Y Div CAGR
—
VOR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 5 38.5%
- Buy 6 46.2%
- Hold 2 15.4%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
8 analysts · 2026-08-17
Median
$40.00
← Below all targets
$24.23
Low
$27.00
High
$50.00
Median target
$40.00
+65.1%
Mean target
$39.00
+61.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-2.6%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-5.11 | $-0.79 | -4.3% |
| Dec. 31, 2025 | $25.84 | $-1.69 | 27.5% |
| Sept. 30, 2025 | $-3.33 | $-3.28 | -0.05% |
| June 30, 2025 | $-43.80 | $-8.86 | -34.9% |
| March 31, 2025 | $-5.20 | $-4.62 | -0.58% |
| Dec. 31, 2024 | $-8.80 | $-5.77 | -3.0% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VOR | $506M | -0.2 | — | — | 83.4% | — |
| CRVS | $575M | -14.5 | — | — | -21.6% | — |
| SANA | $1.09B | -4.2 | — | — | -172.3% | — |
| ODTX | — | — | — | — | — | — |
| SVRA | $1.23B | -11.4 | — | — | -73.4% | — |
| KURA | $913M | -3.3 | 25.2% | -413.0% | -116.2% | — |
| AVTX | $336M | -3.1 | -86.6% | -132642.4% | -83.4% | — |
| JANX | $833M | -7.5 | -5.5% | -1136.2% | -11.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| R&D Expense | $322M | $93M | $94M | $65M | $48M | $32M | |
| SG&A Expense | $50M | $28M | $32M | $29M | $21M | $12M | |
| Operating Expenses | $372M | $121M | $126M | $93M | $69M | $43M | |
| Operating Income | $-372M | $-121M | $-126M | $-93M | $-69M | $-43M | |
| Interest Income | $6M | $4M | $8M | $1M | $119.0K | $29.0K | |
| Other Non-op | $-324M | $4M | $8M | $1M | $119.0K | $29.0K | |
| Net Income | $-696M | $-117M | $-118M | $-92M | $-69M | $-43M | |
| EPS (Basic) | $-70.50 | $-34.03 | $-1.75 | $-2.33 | $-2.10 | · | |
| EPS (Diluted) | $-70.50 | $-34.03 | $-1.75 | $-2.33 | $-2.10 | · | |
| Shares (Basic) | 9,871,866 | 3,435,533 | 67,191,973 | 39,551,420 | 33,433,214 | · | |
| Shares (Diluted) | 9,871,866 | 3,435,533 | 67,191,973 | 39,551,420 | 33,433,214 | · | |
| EBITDA | $-372M | $-121M | $-126M | $-93M | $-69M | · |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $396M | $82M | $31M | $58M | $120M | $49M | |
| Short-term Investments | $59M | $10M | $106M | $173M | $88M | $0 | |
| Prepaid Expense | $1M | $4M | $3M | $4M | $5M | $467.0K | |
| Other Current Assets | $2M | $380.0K | $475.0K | $2M | $2M | $100.0K | |
| Current Assets | $458M | $97M | $141M | $237M | $214M | $49M | |
| PP&E (Net) | $533.0K | $7M | $10M | $13M | $7M | $5M | |
| PP&E (Gross) | $558.0K | $18M | $18M | $17M | $9M | $5M | |
| Accum. Depreciation | $25.0K | $11M | $8M | $5M | $2M | $726.0K | |
| Other Non-current Assets | $2M | $2M | $5M | $3M | $3M | $3M | |
| Total Assets | $464M | $143M | $198M | $299M | $243M | $76M | |
| Accounts Payable | $5M | $2M | $815.0K | $2M | $2M | $2M | |
| Accrued Liabilities | $20M | $13M | $11M | $8M | $6M | $6M | |
| Current Liabilities | $25M | $19M | $16M | $13M | $10M | $10M | |
| Capital Leases | $3M | $28M | $32M | $36M | $16M | $17M | |
| Total Liabilities | $628M | $46M | $47M | $49M | $26M | $28M | |
| Common Stock | $18.0K | $13.0K | $7.0K | $7.0K | $4.0K | $1.0K | |
| Retained Earnings | $-1.15B | $-457M | $-340M | $-222M | $-130M | $-61M | |
| AOCI | $41.0K | $22.0K | $-77.0K | $-770.0K | · | · | |
| Stockholders' Equity | $-164M | $97M | $151M | $251M | $216M | $-59M | |
| Liabilities + Equity | $464M | $143M | $198M | $299M | $243M | $76M | |
| Shares Outstanding | 38,720,196 | 6,238,799 | 3,395,072 | 65,996,138 | 37,174,741 | 505,074 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $19M | $10M | $13M | $11M | $4M | $1M | |
| Restructuring | $30M | · | · | · | · | · | |
| Operating Cash Flow | $-143M | $-100M | $-100M | $-85M | $-69M | $-36M | |
| CapEx | $941.0K | $229.0K | $1M | $8M | $4M | $4M | |
| Investing Cash Flow | $-49M | $97M | $71M | $-94M | $-92M | $-4M | |
| Stock Issued | $70M | $275.0K | $5M | $4M | · | · | |
| Net Stock Activity | $70M | $275.0K | $5M | $4M | · | · | |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | |
| Financing Cash Flow | $504M | $53M | $3M | $117M | $233M | $83M | |
| Net Change in Cash | $312M | $51M | $-26M | $-62M | $72M | $42M | |
| Free Cash Flow | $-144M | $-100M | $-101M | $-94M | $-73M | · |
Profitability 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| ROA | -229.3% | -68.6% | -47.4% | -34.0% | -43.3% | · | |
| ROE | 83.4% | -137.8% | -72.4% | -45.0% | -30.7% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 18.2 | 5.2 | 9.0 | 18.1 | 21.1 | · | |
| Quick Ratio | 18.1 | 4.9 | 8.8 | 17.6 | 20.4 | · |
Valuation (TTM) 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-696M | $-117M | $-118M | $-92M | $-69M | $-43M | |
| Market Cap | $506M | $2.77B | $3.06B | $8.78B | $8.64B | · | |
| P/E | -0.2 | -0.7 | -25.7 | -57.1 | -110.7 | · | |
| P/B | -3.1 | 28.7 | 20.3 | 35.0 | 39.9 | · | |
| P / Tangible Book | · | 28.7 | 20.3 | 35.0 | 39.9 | · | |
| P / Cash Flow | -3.5 | -27.8 | -30.5 | -103.1 | -124.9 | · | |
| P / FCF | -3.5 | -27.7 | -30.1 | -93.8 | -118.3 | · | |
| Dividend Yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | · | |
| Earnings Yield | -539.0% | -153.3% | -3.9% | -1.8% | -0.90% | · | |
| Payout Ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | · | |
| Annual Payout | $0 | $0 | $0 | $0 | $0 | $0 |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $26M | $18M | $19M | $14M | $261M | $27M | $25M | $22M | $22M | $24M | $21M | $28M | $24M | $22M | $17M | $17M | |
| SG&A Expense | $22M | $18M | $17M | $14M | $13M | $7M | $6M | $7M | $7M | $8M | $7M | $8M | $8M | $9M | $8M | $7M | |
| Operating Expenses | $48M | $35M | $36M | $28M | $274M | $33M | $31M | $29M | $29M | $32M | $28M | $35M | $32M | $30M | $25M | $24M | |
| Operating Income | $-48M | $-35M | $-36M | $-28M | $-274M | $-33M | $-31M | $-29M | $-29M | $-32M | $-28M | $-35M | $-32M | $-30M | $-25M | $-24M | |
| Interest Income | $4M | $4M | $3M | $2M | $537.0K | $805.0K | $599.0K | $954.0K | $1M | $2M | $2M | $2M | $2M | $2M | $815.0K | $313.0K | |
| Other Non-op | $-15M | $-184M | $1.76B | $-785M | $-1.30B | $805.0K | $599.0K | $954.0K | $1M | $2M | $2M | $2M | $2M | $2M | $815.0K | $313.0K | |
| Net Income | $-63M | $-220M | $1.72B | $-813M | $-1.57B | $-32M | $-31M | $-28M | $-28M | $-31M | $-26M | $-33M | $-30M | $-28M | $-24M | $-24M | |
| EPS (Basic) | $-1.16 | $-5.11 | $63.95 | $-121.63 | $-251.24 | $-5.21 | $-25.12 | $-8.05 | $-0.41 | $-0.45 | $-0.38 | $-0.49 | $-0.45 | $-0.43 | $-0.51 | $-0.63 | |
| EPS (Diluted) | $-1.16 | $-5.11 | $63.95 | $-121.63 | $-251.24 | $-5.21 | $-25.12 | $-8.05 | $-0.41 | $-0.45 | $-0.38 | $-0.49 | $-0.45 | $-0.43 | $-0.51 | $-0.63 | |
| Shares (Basic) | 54,304,456 | 43,011,544 | -246,905,522 | 6,681,794 | 6,263,572 | 6,241,207 | -136,318,102 | 3,423,499 | 68,299,170 | 68,030,966 | -133,714,593 | 67,607,713 | 67,033,150 | 66,265,703 | -73,188,103 | 38,009,022 | |
| Shares (Diluted) | 54,304,456 | 43,011,544 | -246,905,522 | 6,681,794 | 6,263,572 | 6,241,207 | -136,318,102 | 3,423,499 | 68,299,170 | 68,030,966 | -133,714,593 | 67,607,713 | 67,033,150 | 66,265,703 | -73,188,103 | 38,009,022 | |
| EBITDA | $-48M | $-35M | · | $-28M | $-274M | $-33M | · | $-29M | $-29M | · | · | $-35M | $-32M | $-30M | · | $-24M |
Balance Sheet 21
| 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 | $108M | $170M | $396M | $160M | $191M | $50M | $82M | $53M | $76M | $45M | $31M | $45M | $32M | $42M | $58M | $61M | |
| Short-term Investments | $358M | $322M | $59M | $10M | $10M | $10M | $10M | $10M | $10M | $63M | $106M | $115M | $155M | $168M | $173M | $75M | |
| Prepaid Expense | $6M | $6M | $1M | $747.0K | $2M | $5M | $4M | $4M | $4M | $4M | $3M | $4M | $4M | $6M | $4M | $5M | |
| Other Current Assets | $3M | $3M | $2M | $1M | $449.0K | $297.0K | $380.0K | $285.0K | $272.0K | $507.0K | $475.0K | $667.0K | $539.0K | $459.0K | $2M | $2M | |
| Current Assets | $475M | $501M | $458M | $172M | $205M | $65M | $97M | $67M | $90M | $112M | $141M | $164M | $191M | $217M | $237M | $143M | |
| PP&E (Net) | $648.0K | $565.0K | $533.0K | $271.0K | $0 | $6M | $7M | $7M | $8M | $9M | $10M | $11M | $11M | $12M | $13M | $13M | |
| PP&E (Gross) | $738.0K | $618.0K | $558.0K | $272.0K | $0 | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $17M | $17M | $17M | |
| Accum. Depreciation | $90.0K | $53.0K | $25.0K | $1.0K | $0 | $12M | $11M | $11M | $10M | $9M | $8M | $7M | $6M | $5M | $5M | $4M | |
| Other Non-current Assets | $2M | $2M | $2M | $269.0K | $420.0K | $2M | $2M | $3M | $3M | $5M | $5M | $4M | $3M | $3M | $3M | $3M | |
| Total Assets | $481M | $507M | $464M | $176M | $205M | $109M | $143M | $116M | $142M | $167M | $198M | $223M | $251M | $278M | $299M | $206M | |
| Accounts Payable | $4M | $1M | $5M | $885.0K | $669.0K | $4M | $2M | $1M | $2M | $2M | $815.0K | $1M | $2M | $3M | $2M | $824.0K | |
| Accrued Liabilities | $20M | $15M | $20M | $18M | $58M | $9M | $13M | $9M | $8M | $7M | $11M | $10M | $7M | $5M | $8M | $6M | |
| Current Liabilities | $25M | $16M | $25M | $19M | $59M | $17M | $19M | $14M | $14M | $13M | $16M | $15M | $13M | $13M | $13M | $11M | |
| Capital Leases | $3M | $3M | $3M | $3M | $0 | $27M | $28M | $29M | $30M | $31M | $32M | $33M | $34M | $35M | $36M | $37M | |
| Total Liabilities | $681M | $657M | $628M | $2.40B | $1.71B | $43M | $46M | $43M | $44M | $44M | $47M | $48M | $47M | $47M | $49M | $48M | |
| Common Stock | $19.0K | $19.0K | $18.0K | $15.0K | $13.0K | $13.0K | $13.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $4.0K | |
| Retained Earnings | $-1.44B | $-1.37B | $-1.15B | $-2.88B | $-2.06B | $-489M | $-457M | $-426M | $-399M | $-371M | $-340M | $-314M | $-281M | $-251M | $-222M | $-198M | |
| AOCI | $-922.0K | $-706.0K | $41.0K | $12.0K | $14.0K | $23.0K | $22.0K | $68.0K | $-70.0K | $-87.0K | $-77.0K | $-280.0K | $-436.0K | $-174.0K | $-770.0K | $-1M | |
| Stockholders' Equity | $-200M | $-150M | $-164M | $-2.23B | $-1.51B | $66M | $97M | $73M | $98M | $123M | $151M | $175M | $204M | $230M | $251M | $159M | |
| Liabilities + Equity | $481M | $507M | $464M | $176M | $205M | $109M | $143M | $116M | $142M | $167M | $198M | $223M | $251M | $278M | $299M | $206M | |
| Shares Outstanding | 54,455,751 | 54,185,582 | 38,720,196 | 9,026,922 | 125,645,952 | 124,851,547 | 6,238,799 | 68,663,065 | 68,357,884 | 68,215,771 | 67,891,311 | 67,785,469 | 67,433,560 | 66,934,897 | 65,996,138 | 38,393,211 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $9M | $9M | $7M | $8M | $2M | $2M | $2M | $2M | $3M | $3M | $2M | $3M | $4M | $4M | $4M | $3M | |
| Restructuring | · | · | $0 | $-1M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-25M | $-38M | $-23M | $-54M | $-35M | $-31M | $-24M | $-23M | $-22M | $-30M | $-24M | $-28M | $-24M | $-24M | $-18M | $-19M | |
| CapEx | $120.0K | $48.0K | $314.0K | $244.0K | $152.0K | $231.0K | $72.0K | $34.0K | $9.0K | $114.0K | $111.0K | $465.0K | $399.0K | $94.0K | $321.0K | $298.0K | |
| Investing Cash Flow | $-37M | $-263M | $-49M | $-244.0K | $646.0K | $-230.0K | $-72.0K | $-34.0K | $53M | $44M | $10M | $41M | $14M | $6M | $-97M | $13M | |
| Stock Issued | · | · | $50M | $20M | $0 | $0 | $-22.0K | $111.0K | $-92.0K | $278.0K | $-15.0K | $392.0K | $579.0K | $4M | $106.0K | $4M | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | · | · | · | · | $4M | · | · | |
| Financing Cash Flow | $-106.0K | $75M | $308M | $22M | $175M | $-606.0K | $53M | $41.0K | $-31.0K | $96.0K | $25.0K | $176.0K | $218.0K | $3M | $112M | $4M | |
| Net Change in Cash | $-62M | $-227M | $236M | $-32M | $141M | $-32M | $29M | $-23M | $31M | $14M | $-14M | $13M | $-10M | $-15M | $-3M | $-2M | |
| Free Cash Flow | · | $-38M | · | · | · | $-31M | · | · | · | · | · | · | · | $-24M | · | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -18.3% | -71.3% | · | -556.2% | -907.1% | -23.5% | · | -16.3% | -14.2% | · | · | -15.5% | -12.6% | -11.1% | · | -10.2% | |
| ROE | 7.4% | 520.6% | · | 75.5% | 223.6% | -34.4% | · | -22.2% | -18.4% | · | · | -19.9% | -15.8% | -13.4% | · | -12.2% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 19.1 | 31.1 | · | 9.2 | 3.5 | 3.9 | · | 4.7 | 6.5 | · | · | 10.7 | 15.1 | 17.2 | · | 12.9 | |
| Quick Ratio | 18.8 | 30.6 | · | 9.0 | 3.4 | 3.6 | · | 4.4 | 6.2 | · | · | 10.4 | 14.7 | 16.7 | · | 12.3 |
Valuation (TTM) 8
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-2.67B | $-2.64B | · | $-2.45B | $-1.66B | $-119M | · | $-119M | $-122M | $-122M | · | $-115M | $-104M | $-97M | · | $-87M | |
| Market Cap | $1.00B | $967M | · | $440M | $4.07B | $1.79B | · | $961M | $1.37B | · | · | $2.87B | $4.17B | $7.20B | · | $3.06B | |
| P/E | -0.0 | -0.1 | · | -0.3 | -1.5 | -1.6 | · | -1.5 | -11.1 | -26.0 | · | -21.2 | -29.6 | -47.8 | · | -34.3 | |
| P/B | -5.0 | -6.4 | · | -0.2 | -2.7 | 27.1 | · | 13.2 | 13.9 | · | · | 16.4 | 20.4 | 31.3 | · | 19.3 | |
| P / Tangible Book | · | · | · | · | · | 27.1 | · | 13.2 | 13.9 | 26.3 | · | 16.4 | 20.4 | 31.3 | · | 19.3 | |
| P / Cash Flow | · | -25.3 | · | · | · | -57.7 | · | · | · | · | · | · | · | -296.8 | · | · | |
| P / FCF | · | -25.2 | · | · | · | -57.3 | · | · | · | · | · | · | · | -295.6 | · | · | |
| Earnings Yield | -2059.4% | -810.0% | · | -292.5% | -65.7% | -63.9% | · | -67.1% | -9.0% | -3.8% | · | -4.7% | -3.4% | -2.1% | · | -2.9% |
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 | |
|---|---|---|---|---|---|
| Net Income | $-696M | $-117M | $-118M | $-92M | $-69M |
| Diluted EPS | $-70.50 | $-34.03 | $-1.75 | $-2.33 | $-2.10 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 18.2 | 5.2 | 9.0 | 18.1 | 21.1 |
| Quick Ratio | 18.1 | 4.9 | 8.8 | 17.6 | 20.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-144M | $-100M | $-101M | $-94M | $-73M |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 103 filers · $806.9M 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 |
|---|---|---|---|---|
| 42 (+11 vs prior Q) | 17 (+7 vs prior Q) | 31 (+6 vs prior Q) | 20 (+9 vs prior Q) | +7.3M |
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 |
|---|---|---|---|---|
| TCG Crossover Management, LLC | $104,441,366 | 5,673,078 | 12.94% | Shares |
| FMR LLC | $87,405,893 | 4,747,740 | 10.83% | Shares |
| FCPM III SERVICES B.V. | $75,800,487 | 4,117,354 | 9.39% | Shares |
| Venrock Adviser, LLC | $55,998,047 | 3,041,719 | 6.94% | Shares |
| STATE STREET CORP | $48,166,746 | 2,616,336 | 5.97% | Shares |
| Frazier Life Sciences Management, L.P. | $46,833,917 | 2,543,939 | 5.80% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $44,222,569 | 2,402,095 | 5.48% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $38,372,478 | 2,084,328 | 4.76% | Shares |
| Caligan Partners LP | $35,440,465 | 1,925,066 | 4.39% | Shares |
| Paradigm Biocapital Advisors LP | $32,217,500 | 1,750,000 | 3.99% | Shares |
| GREAT POINT PARTNERS LLC | $31,297,000 | 1,700,000 | 3.88% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $16,677,425 | 905,690 | 2.07% | Shares |
| NEXTBio Capital Management LP | $16,369,509 | 889,164 | 2.03% | Shares |
| Nantahala Capital Management, LLC | $15,556,450 | 845,000 | 1.93% | Shares |
| ADAR1 Capital Management, LLC | $12,530,325 | 680,626 | 1.55% | Shares |
| Logos Global Management LP | $11,966,500 | 650,000 | 1.48% | Shares |
| Rosalind Advisors, Inc. | $11,940,726 | 648,600 | 1.48% | Shares |
| NAN FUNG TRINITY (HK) LTD | $11,902,986 | 646,550 | 1.48% | Shares |
| BRAIDWELL LP | $10,550,845 | 573,104 | 1.31% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $10,285,704 | 558,702 | 1.27% | Shares |
| UBS Group AG | $8,937,300 | 485,459 | 1.11% | Shares |
| MILLENNIUM MANAGEMENT LLC | $7,880,713 | 428,067 | 0.98% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $7,666,237 | 416,417 | 0.95% | Shares |
| Woodline Partners LP | $6,990,700 | 379,723 | 0.87% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,266,101 | 340,364 | 0.78% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $5,535,961 | 300,704 | 0.69% | Shares |
| Clearline Capital LP | $5,251,931 | 285,276 | 0.65% | Shares |
| GOLDMAN SACHS GROUP INC | $4,182,623 | 227,193 | 0.52% | Shares |
| Eversept Partners, LP | $2,755,627 | 149,681 | 0.34% | Shares |
| BANK OF AMERICA CORP /DE/ | $2,384,942 | 129,546 | 0.30% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,234,937 | 121,398 | 0.28% | Shares |
| MARSHALL WACE, LLP | $1,760,788 | 95,643 | 0.22% | Shares |
| AXIOM INVESTORS LLC /DE | $1,695,653 | 92,105 | 0.21% | Shares |
| XTX Topco Ltd | $1,521,494 | 82,645 | 0.19% | Shares |
| CITADEL ADVISORS LLC | $1,328,668 | 72,171 | 0.16% | Shares |
| VANGUARD GROUP INC | $1,227,401 | 93,838 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,189,286 | 64,600 | 0.15% | Put option |
| CITIGROUP INC | $1,118,868 | 60,775 | 0.14% | Shares |
| BlackRock, Inc. | $1,082,103 | 58,778 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $1,059,081 | 57,528 | 0.13% | Shares |
| ALPS ADVISORS INC | $1,012,513 | 54,998 | 0.13% | Shares |
| JOHNSON & JOHNSON | $989,206 | 53,732 | 0.12% | Shares |
| Rafferty Asset Management, LLC | $898,739 | 48,818 | 0.11% | Shares |
| Walleye Capital LLC | $858,127 | 46,612 | 0.11% | Shares |
| ALLIANCEBERNSTEIN L.P. | $685,036 | 37,210 | 0.08% | Shares |
| TWO SIGMA INVESTMENTS, LP | $681,391 | 37,012 | 0.08% | Shares |
| Engineers Gate Manager LP | $680,268 | 36,951 | 0.08% | Shares |
| WELLS FARGO & COMPANY/MN | $667,786 | 36,273 | 0.08% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $607,733 | 33,011 | 0.08% | Shares |
| Jefferies Financial Group Inc. | $601,326 | 32,663 | 0.07% | Shares |
| Bank of New York Mellon Corp | $502,133 | 27,275 | 0.06% | Shares |
| D. E. Shaw & Co., Inc. | $476,819 | 25,900 | 0.06% | Shares |
| Sarissa Capital Management LP | $467,596 | 25,399 | 0.06% | Shares |
| PROFUND ADVISORS LLC | $452,720 | 24,591 | 0.06% | Shares |
| MetLife Investment Management, LLC | $449,977 | 24,442 | 0.06% | Shares |
| Squarepoint Ops LLC | $427,683 | 23,231 | 0.05% | Shares |
| Virtus Investment Advisers, LLC | $419,472 | 22,785 | 0.05% | Shares |
| TUDOR INVESTMENT CORP ET AL | $361,204 | 19,620 | 0.04% | Shares |
| Scientech Research LLC | $346,623 | 18,828 | 0.04% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $344,451 | 18,710 | 0.04% | Shares |
| MORGAN STANLEY | $331,030 | 17,981 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $330,404 | 17,947 | 0.04% | Shares |
| Y-Intercept (Hong Kong) Ltd | $317,352 | 17,238 | 0.04% | Shares |
| JPMORGAN CHASE & CO | $314,656 | 16,917 | 0.04% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $302,918 | 16,454 | 0.04% | Shares |
| Invesco Ltd. | $299,568 | 16,272 | 0.04% | Shares |
| FOX RUN MANAGEMENT, L.L.C. | $281,691 | 15,301 | 0.03% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $263,263 | 14,300 | 0.03% | Shares |
| Shay Capital LLC | $252,125 | 13,695 | 0.03% | Shares |
| Police & Firemen's Retirement System of New Jersey | $221,564 | 12,035 | 0.03% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $198,699 | 10,793 | 0.02% | Shares |
| EntryPoint Capital, LLC | $198,552 | 10,785 | 0.02% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $197,134 | 10,708 | 0.02% | Shares |
| BARCLAYS PLC | $173,717 | 9,436 | 0.02% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $167,531 | 9,100 | 0.02% | Shares |
| Nuveen, LLC | $164,309 | 8,925 | 0.02% | Shares |
| SEI INVESTMENTS CO | $160,500 | 8,714 | 0.02% | Shares |
| China Universal Asset Management Co., Ltd. | $158,768 | 8,624 | 0.02% | Shares |
| NORTHERN TRUST CORP | $117,990 | 6,409 | 0.01% | Shares |
| Legal & General Group Plc | $72,940 | 3,962 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $68,172 | 3,703 | 0.01% | Shares |
| Russell Investments Group, Ltd. | $59,942 | 3,256 | 0.01% | Shares |
| GROUP ONE TRADING LLC | $54,549 | 2,963 | 0.01% | Shares |
| Mirae Asset Global Investments Co., Ltd. | $44,607 | 2,423 | 0.01% | Shares |
| Global Retirement Partners, LLC | $38,458 | 2,089 | 0.00% | Shares |
| Pinnacle Wealth Planning Services, Inc. | $36,360 | 1,975 | 0.00% | Shares |
| Tower Research Capital LLC (TRC) | $32,052 | 1,741 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $23,000 | 1,259 | 0.00% | Shares |
| GF FUND MANAGEMENT CO. LTD. | $19,736 | 1,072 | 0.00% | Shares |
| DEUTSCHE BANK AG\ | $9,886 | 537 | 0.00% | Shares |
| Sterling Capital Management LLC | $6,536 | 355 | 0.00% | Shares |
| Jump Financial, LLC | $5,320 | 289 | 0.00% | Shares |
| PNC Financial Services Group, Inc. | $5,302 | 288 | 0.00% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $3,314 | 180 | 0.00% | Shares |
| SIGNATUREFD, LLC | $2,706 | 147 | 0.00% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $1,252 | 68 | 0.00% | Shares |
| PRICE T ROWE ASSOCIATES INC /MD/ | $770 | 41,815 | 0.00% | Shares |
| WPG Advisers, LLC | $405 | 22 | 0.00% | Shares |
| Allworth Financial LP | $185 | 10 | 0.00% | Shares |
| Parallel Advisors, LLC | $92 | 5 | 0.00% | Shares |
Company insiders 18 insiders · 5 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Robert Ang | President and CEO | Nov. 6, 2023 F | 680,925 | 0 | 0 | $0 |
| Nathan D. Jorgensen | Chief Financial Officer | Nov. 6, 2023 F | 145,647 | 0 | 0 | $0 |
| Tirtha Chakraborty | Chief Scientific Officer | Nov. 6, 2023 F | 133,952 | 0 | 0 | $0 |
| Eyal C. Attar | Chief Medical Officer | Nov. 6, 2023 F | 51,533 | 0 | 0 | $0 |
| Christopher Slapak | Chief Medical Officer | Feb. 1, 2022 A | — | 0 | 0 | $0 |
| David Zaccardelli | Director | July 7, 2026 A | — | 0 | 0 | $0 |
| Wouter Joustra | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Andrew David Levin | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Michel Detheux | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Fouad Namouni | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Alexander Cumbo | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Daniella Beckman | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Erez Kalir | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Joshua Resnick | Director | May 26, 2023 A | — | 0 | 0 | $0 |
| Sven Ante Lundberg | Director | May 26, 2023 A | — | 0 | 0 | $0 |
| David Charles Lubner | Director | May 26, 2023 A | — | 0 | 0 | $0 |
| Matthew R Patterson | Director | May 26, 2023 A | — | 0 | 0 | $0 |
| Kush Parmar | Director | June 14, 2022 A | 1,766,634 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, RA Capital Healthcare Fund, L.P. ×19 filings | July 21, 2026 | 19.90% | Amendment | Board campaign | SEC |
| ForGrowth III PA B.V., Forbion Growth Opportunities Fund III Cooperatief U.A., Forbion Growth III Management B.V. | Dec. 23, 2025 | 9.99% | Initial filing | Board campaign | SEC |
| Reprogrammed Interchange LLC, Reid Hoffman ×9 filings | Oct. 17, 2025 | 17.60% | Amendment | — | SEC |
| 5AM Ventures VI, L.P., 5AM Partners VI, LLC, 5AM Opportunities I, L.P., 5AM Opportunities I (GP), LLC, Andrew J. Schwab, Kush Parmar ×3 filings | July 9, 2025 | 3.50% | Amendment | — | 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 19 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 |
|---|---|---|---|---|
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.23% | 28,259 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.22% | 138,628 SH | Aug. 8, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.15% | 54,358 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.09% | 2,946 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.04% | 257,465 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.03% | 1,536 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.03% | 1,034,461 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.03% | 29,989 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 234,796 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 116,690 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 15,348 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 492,007 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 11,048 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 61,141 SH | Aug. 8, 2026 | Daily |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 13,777 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 67,566 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 12,959 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,550,885 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,390 SH | Aug. 8, 2026 | Daily |