VTGN Vistagen Therapeutics, Inc. - Common Stock
$0.25
Price · Aug 25, 2026
Fundamentals as of Aug 14, 2026
52W Range
$0–$5
1% of range
Analyst Rating
HOLD
10 analysts
Price Target
$1
+300% upside
P/E (TTM)
-0.3
ROE
-136.8%
Net Profit Margin
-5491.3%
VTGN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.25
Market Cap
—
P/E (TTM)
-0.3
EPS (TTM)
$-1.83
Revenue (TTM)
$1M
Div Yield
—
ROE
-136.8%
Debt/Equity
—
52W Range
$0 – $5
VTGN 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
$1M
2017-03-31
→
2026-03-31
EPS
$-1.83
2023-03-31
→
2026-03-31
Free Cash Flow
—
2017-03-31
→
2024-03-31
Margins
-5491.3%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VTGN
Peer Median
P/E (TTM)
-0.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VTGN
Peer Median
Operating Margin
-5683.7%
—
Net Profit Margin
-5491.3%
-2916.8%
ROA
-104.9%
-82.1%
ROE
-136.8%
-92.1%
ROIC
-203.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VTGN
Peer Median
Current Ratio
3.7
2.6
Quick Ratio
2.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VTGN
Peer Median
Revenue YoY
161.1%
—
Revenue CAGR 3Y
-24.0%
—
Revenue CAGR 5Y
3.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VTGN
Peer Median
VTGN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
10 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 7 70.0%
- Sell 1 10.0%
- Strong Sell 2 20.0%
12-Month Price Target
2 analysts · 2026-08-25
Low
$1.00
High
$1.00
Median target
$1.00
+300.2%
Mean target
$1.00
+300.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Dec. 31, 2026 | $-0.37 | $-0.34 | — |
| March 31, 2026 | $-0.37 | $-0.34 | -0.03% |
| Dec. 31, 2025 | $-0.45 | $-0.50 | 0.05% |
| Sept. 30, 2025 | $-0.54 | $-0.49 | -0.05% |
| June 30, 2025 | $-0.47 | $-0.48 | 0.01% |
| March 31, 2025 | $-0.43 | $-0.51 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VTGN | — | -0.3 | 161.1% | -5491.3% | -136.8% | — |
| INAB | $23M | -0.5 | — | — | -90.8% | — |
| MBRX | — | — | — | — | — | — |
| XCUR | $35M | -6.9 | — | — | -77.3% | — |
| LNAI | $513M | -2.7 | — | — | -586.4% | — |
| OSRH | — | — | — | — | — | — |
| MTVA | $19M | -1.1 | -44.6% | -2543.7% | -173.5% | — |
| SKYE | $25M | -0.5 | — | — | -175.6% | — |
| FBLG | — | -0.5 | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1M | $486.0K | $1M | $-227.0K | $1M | $1M | $0 | · | $0 | $1M | $0 | · | |
| R&D Expense | $55M | $39M | $20M | $44M | $35M | $12M | $13M | $17M | $8M | $5M | $4M | $2M | |
| SG&A Expense | $18M | $17M | $14M | $15M | $13M | $7M | $7M | $7M | $6M | $6M | $14M | $4M | |
| Operating Expenses | $73M | $56M | $34M | $59M | $49M | $19M | $21M | $25M | $14M | $11M | $18M | $7M | |
| Operating Income | $-72M | $-56M | $-33M | $-59M | $-48M | $-18M | $-21M | $-25M | $-14M | $-10M | $-18M | $-7M | |
| Interest Expense | · | · | · | · | · | · | · | $8.0K | $8.9K | $4.6K | $770.8K | $5M | |
| Other Non-op | · | · | · | · | $0 | $600 | · | · | · | $0 | $-2.3K | $-135.0K | |
| Pretax Income | $-70M | $-51M | $-29M | $-59M | $-48M | $-18M | $-21M | $-25M | $-14M | $-10M | $-47M | $-14M | |
| Income Tax | $7.0K | $7.0K | $4.0K | $6.0K | $3.4K | $2.6K | $2.6K | $2.6K | $2.4K | $2.4K | $2.3K | $2.4K | |
| Net Income | $-70M | $-51M | $-29M | $-59M | $-48M | $-18M | $-21M | $-25M | $-14M | $-10M | $-47M | $-14M | |
| EPS (Basic) | $-1.83 | $-1.67 | $-1.52 | $-8.51 | $-7.38 | $-0.49 | · | · | · | · | $-29.08 | $-10.53 | |
| EPS (Diluted) | $-1.83 | $-1.67 | $-1.52 | $-8.51 | · | · | · | · | · | · | $-29.08 | $-10.61 | |
| Shares (Basic) | 38,073,926 | 30,877,029 | 19,354,500 | 6,958,749 | 6,599,287 | 86,133,644 | · | · | · | · | 1,767,957 | 1,318,813 | |
| Shares (Diluted) | 38,073,926 | 30,877,029 | 19,354,500 | 6,958,749 | · | · | · | · | · | · | 1,767,957 | 1,318,813 | |
| EBITDA | $-72M | $-56M | $-33M | $-59M | $-48M | $-18M | $-21M | $-24M | $-14M | $-10M | $-18M | $-7M |
Balance Sheet 24
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $31M | $67M | $119M | $17M | $68M | $103M | $1M | $13M | $10M | $3M | $428.5K | $70.0K | |
| Receivables | · | · | · | · | · | · | · | · | · | · | $0 | · | |
| Prepaid Expense | $2M | $2M | $2M | $802.0K | $3M | $875.7K | $225.1K | $228.6K | $644.8K | $456.6K | $426.8K | $35.7K | |
| Current Assets | $47M | $82M | $121M | $18M | $71M | $104M | $2M | $14M | $11M | $3M | $855.3K | $105.7K | |
| PP&E (Net) | $427.0K | $476.0K | $435.0K | $507.0K | $414.3K | $367.4K | $209.6K | $312.7K | $207.4K | $286.5K | $87.6K | $117.1K | |
| PP&E (Gross) | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $798.6K | $782.2K | |
| Accum. Depreciation | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $933.4K | $842.1K | $761.4K | $711.0K | $665.1K | |
| Other Non-current Assets | $393.0K | $454.0K | $726.0K | · | · | · | $47.8K | $47.8K | $47.8K | $47.8K | $46.9K | $46.9K | |
| Total Assets | $49M | $84M | $124M | $21M | $75M | $108M | $6M | $14M | $11M | $4M | $989.8K | $269.7K | |
| Accounts Payable | $2M | $653.0K | $2M | $2M | $3M | $838.3K | $2M | $1M | $1M | $867.3K | $936.0K | $2M | |
| Accrued Liabilities | $9M | $9M | $2M | $796.0K | $1M | $2M | $561.5K | $2M | $206.3K | $443.0K | $814.0K | $1M | |
| Short-term Debt | $96.0K | $0 | $0 | $105.0K | · | $0 | $56.5K | $57.3K | $53.9K | $54.8K | $43.6K | $4M | |
| Current Liabilities | $13M | $13M | $5M | $5M | $6M | $4M | $28M | $3M | $1M | $1M | $2M | $17M | |
| Capital Leases | $249.0K | $948.0K | $2M | $2M | $3M | $3M | $3.0K | $6.3K | $9.3K | $11.9K | $0 | $1.1K | |
| Total Liabilities | $13M | $14M | $9M | $9M | $10M | $16M | $12M | $7M | $4M | $3M | $4M | $21M | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | $58.8K | $2M | |
| Total Debt | · | · | $0 | · | · | $0 | $56.5K | $57.3K | $53.9K | $54.8K | $43.6K | · | |
| Common Stock | $40.0K | $29.0K | $27.0K | $7.0K | $6.9K | $180.8K | $49.3K | $42.8K | $23.1K | $9.0K | $2.6K | $1.7K | |
| Paid-in Capital | $517M | $482M | $474M | $343M | $336M | $316M | $200M | $192M | $167M | $147M | $133M | $68M | |
| Retained Earnings | $-477M | $-408M | $-356M | $-327M | $-268M | $-220M | $-202M | $-181M | $-157M | $-142M | $-132M | $-85M | |
| Treasury Stock | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | |
| AOCI | $-2.0K | $5.0K | $0 | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $36M | $70M | $114M | $12M | $65M | $92M | $-6M | $7M | $7M | $615.8K | $-3M | $-21M | |
| Liabilities + Equity | $49M | $84M | $124M | $21M | $75M | $108M | $6M | $14M | $11M | $4M | $989.8K | $269.7K |
Cash Flow 13
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $199.0K | $150.0K | $127.0K | $130.0K | $153.5K | $117.6K | $103.1K | $91.2K | $80.7K | $54.9K | $53.5K | $59.1K | |
| Stock-based Comp | $4M | $4M | $2M | $3M | $3M | $2M | · | · | · | · | · | $2M | |
| Other Non-cash | $-947.0K | $5M | $1M | · | · | $6M | $5M | $10M | $5M | $3M | $42M | · | |
| Operating Cash Flow | $-66M | $-42M | $-26M | $-50M | $-45M | $-12M | $-16M | $-15M | $-9M | $-7M | $-5M | $-3M | |
| CapEx | · | · | $0 | $528.0K | $0 | $275.4K | $0 | $174.0K | $1.6K | $239.1K | $26.3K | · | |
| Investing Cash Flow | $-877.0K | $-13M | $-61.0K | $-740.0K | $-200.4K | $-275.4K | $0 | $-174.0K | $-1.6K | $-239.1K | $-26.3K | · | |
| Stock Issued | · | · | · | · | · | $13M | $3M | $17M | $17M | $10M | $280.0K | $3M | |
| Net Stock Activity | · | · | · | · | · | $13M | $3M | $17M | $17M | $10M | $280.0K | $3M | |
| Financing Cash Flow | $31M | $3M | $128M | $-1M | $10M | $114M | $4M | $17M | $17M | · | · | $3M | |
| Net Change in Cash | $-36M | $-52M | $103M | $-51M | $-35M | $102M | $-12M | $3M | $7M | $2M | $358.5K | $70.0K | |
| Taxes Paid | $3.0K | $0 | · | · | $3.4K | $2.6K | $2.6K | $2.6K | $2.4K | $2.4K | $2.4K | $2.4K | |
| Free Cash Flow | · | · | $-26M | $-50M | $-45M | $-12M | $-16M | $-15M | $-9M | $-8M | $-5M | · | |
| Levered FCF | · | · | · | · | · | · | · | $-15M | $-9M | $-8M | $-6M | · |
Profitability 7
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -5683.7% | -11517.1% | -3103.5% | 26109.2% | -4308.3% | -1646.1% | -69108.0% | · | · | -819.9% | · | · | |
| Net Margin | -5491.3% | -10579.8% | -2759.6% | 26100.3% | -4306.8% | -1646.1% | -69016.6% | · | · | -820.4% | · | · | |
| Pretax Margin | -5490.8% | -10578.4% | -2759.2% | 26097.7% | -4306.5% | -1645.9% | -69008.0% | · | · | -820.2% | · | · | |
| EBITDA Margin | -5668.0% | -11486.2% | -3091.5% | 26109.2% | -4308.3% | -1635.3% | -68765.4% | · | · | -815.5% | · | · | |
| ROA | -104.9% | -49.4% | -40.6% | -123.8% | -52.2% | -31.4% | -210.0% | -194.5% | -191.4% | -436.2% | -7498.3% | -5206.5% | |
| ROE | -136.8% | -67.9% | -24.7% | -361.8% | -66.0% | -19.3% | 351.4% | -560.9% | -380.9% | 868.6% | 401.5% | 83.3% | |
| ROIC | -203.1% | -79.5% | -28.9% | -490.7% | -73.8% | -19.5% | 366.7% | -344.3% | -203.7% | -1528.6% | 608.5% | 33.0% |
Liquidity & Solvency 4
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.7 | 6.5 | 23.6 | 3.8 | 12.3 | 24.9 | 0.6 | 4.9 | 7.6 | 2.5 | 0.5 | 0.0 | |
| Quick Ratio | 2.4 | 5.3 | 23.3 | 3.6 | 11.8 | 24.6 | 0.5 | 4.7 | 7.1 | 2.1 | 0.2 | 0.0 | |
| Debt / Equity | · | · | 0.0 | · | · | 0.0 | -0.0 | 0.0 | 0.0 | 0.1 | -0.0 | · | |
| Interest Coverage | · | · | · | · | · | · | · | -3069.5 | -1595.5 | -2227.9 | -23.2 | -1.5 |
Efficiency 1
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | -0.0 | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.5 | · | · |
Growth Rates 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 161.1% | -54.3% | · | · | 1.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | · | -24.0% | -0.79% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 3.1% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1M | $486.0K | $1M | $-227.0K | $1M | $1M | $0 | · | $0 | $1M | $0 | $987.4K | |
| Net Income TTM | $-70M | $-51M | $-29M | $-59M | $-48M | $-18M | $-21M | $-25M | $-14M | $-10M | $-47M | $-14M | |
| P/E | -0.3 | -1.5 | -3.5 | -0.4 | -3.0 | -5.1 | -1.1 | -3.1 | -2.2 | -4.7 | -9.0 | -28.3 | |
| Earnings Yield | -321.1% | -66.8% | -28.8% | -236.4% | -33.7% | -19.6% | -94.9% | -32.6% | -44.9% | -21.3% | -11.1% | -3.5% |
Income Statement 14
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1M | $464.0K | $303.0K | $258.0K | $244.0K | $-15.0K | $234.0K | $183.0K | $84.0K | $198.0K | $411.0K | $278.0K | $177.0K | $176.0K | $180.0K | $-893.0K | |
| R&D Expense | $11M | $13M | $14M | $16M | $12M | $10M | $11M | $10M | $8M | $7M | $5M | $4M | $4M | $9M | $7M | $13M | |
| SG&A Expense | $4M | $4M | $6M | $4M | $4M | $4M | $4M | $4M | $5M | $4M | $4M | $3M | $3M | $3M | $3M | $4M | |
| Operating Expenses | $15M | $17M | $20M | $20M | $16M | $14M | $15M | $14M | $12M | $12M | $8M | $7M | $7M | $12M | $10M | $17M | |
| Operating Income | $-13M | $-17M | $-20M | $-20M | $-16M | $-14M | $-15M | $-14M | $-12M | $-11M | $-8M | $-7M | $-7M | $-12M | $-10M | $-17M | |
| Other Non-op | $-1.0K | · | $0 | $6.0K | $-2.0K | · | $0 | $0 | $0 | · | · | · | · | · | · | · | |
| Pretax Income | $-13M | $-16M | $-19M | $-19M | $-15M | $-14M | $-14M | $-13M | $-11M | $-10M | $-6M | $-7M | $-7M | $-12M | $-10M | $-17M | |
| Income Tax | $0 | $7.0K | $0 | $0 | $0 | $0 | $0 | $7.0K | $0 | $1.0K | $0 | $0 | $3.0K | $500 | $0 | $0 | |
| Net Income | $-13M | $-16M | $-19M | $-19M | $-15M | $-14M | $-14M | $-13M | $-11M | $-10M | $-6M | $-7M | $-7M | $-12M | $-10M | $-17M | |
| EPS (Basic) | $-0.30 | $-0.37 | $-0.45 | $-0.54 | $-0.47 | $-0.44 | $-0.46 | $-0.42 | $-0.35 | $0.30 | $-0.22 | $-0.66 | $-0.94 | $-1.68 | $-1.42 | $-2.54 | |
| EPS (Diluted) | $-0.30 | $-0.37 | $-0.45 | $-0.54 | $-0.47 | $-0.44 | $-0.46 | $-0.42 | $-0.35 | $0.30 | $-0.22 | $-0.66 | $-0.94 | · | · | · | |
| Shares (Basic) | 42,980,174 | -71,840,304 | 42,234,405 | 35,749,160 | 31,930,665 | -61,070,625 | 30,711,872 | 30,632,347 | 30,603,435 | -27,413,120 | 29,388,085 | 10,042,530 | 7,337,005 | -13,716,298 | 6,894,603 | 6,893,708 | |
| Shares (Diluted) | 42,980,174 | -71,840,304 | 42,234,405 | 35,749,160 | 31,930,665 | -61,070,625 | 30,711,872 | 30,632,347 | 30,603,435 | -27,413,120 | 29,388,085 | 10,042,530 | 7,337,005 | · | · | · | |
| EBITDA | $-13M | · | $-20M | $-20M | $-16M | · | $-15M | $-14M | $-12M | · | $-8M | $-7M | $-7M | · | $-10M | $-17M |
Balance Sheet 22
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $17M | $31M | $47M | $63M | $49M | $67M | $75M | $84M | $103M | $119M | $127M | $38M | $10M | $17M | $25M | $35M | |
| Prepaid Expense | $3M | $2M | $1M | $2M | $4M | $2M | $1M | $2M | $2M | $2M | $1M | $1M | $2M | $802.0K | $953.2K | $2M | |
| Current Assets | $34M | $47M | $63M | $79M | $67M | $82M | $90M | $100M | $111M | $121M | $128M | $39M | $12M | $18M | $26M | $37M | |
| PP&E (Net) | $375.0K | $427.0K | $480.0K | $516.0K | $530.0K | $476.0K | $428.0K | $467.0K | $489.0K | $435.0K | $445.1K | $444.3K | $475.8K | $507.0K | $540.7K | $558.8K | |
| PP&E (Gross) | · | $2M | · | · | · | $2M | · | · | · | $2M | · | · | $2M | $2M | $2M | $2M | |
| Accum. Depreciation | · | $1M | · | · | · | $1M | · | · | · | $1M | · | · | $1M | $1M | $1M | $1M | |
| Other Non-current Assets | $392.0K | $393.0K | $392.0K | $405.0K | $472.0K | $454.0K | $477.0K | $498.0K | $518.0K | $726.0K | · | · | · | · | · | · | |
| Total Assets | $36M | $49M | $65M | $81M | $69M | $84M | $92M | $102M | $114M | $124M | $131M | $42M | $15M | $21M | $30M | $41M | |
| Accounts Payable | $1M | $2M | $1M | $2M | $486.0K | $653.0K | $1M | $715.0K | $1M | $2M | $2M | $1M | $2M | $2M | $2M | $3M | |
| Accrued Liabilities | $9M | $9M | $9M | $8M | $7M | $9M | $5M | $4M | $2M | $2M | $129.3K | $292.6K | $424.7K | $796.0K | $1M | $1M | |
| Short-term Debt | $0 | · | $379.0K | $658.0K | $933.0K | · | · | · | · | · | · | · | · | $105.0K | · | · | |
| Current Liabilities | $11M | $13M | $14M | $14M | $11M | $13M | $10M | $8M | $6M | $5M | $4M | $3M | $4M | $5M | $4M | $6M | |
| Capital Leases | $63.0K | $249.0K | $431.0K | $610.0K | $783.0K | $948.0K | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Total Liabilities | $11M | $13M | $14M | $15M | $12M | $14M | $11M | $10M | $9M | $9M | $8M | $7M | $8M | $9M | $9M | $11M | |
| Total Debt | $0 | · | $379.0K | $658.0K | $933.0K | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $44.0K | $40.0K | $40.0K | $39.0K | $29.0K | $29.0K | $28.0K | $27.0K | $27.0K | $27.0K | $27.0K | $12.0K | $7.9K | $7.0K | $207.1K | $207.0K | |
| Paid-in Capital | $519M | $517M | $516M | $512M | $483M | $482M | $479M | $477M | $476M | $474M | $474M | $380M | $345M | $343M | $339M | $338M | |
| Retained Earnings | $-490M | $-477M | $-461M | $-442M | $-423M | $-408M | $-394M | $-380M | $-367M | $-356M | $-347M | $-340M | $-334M | $-327M | $-315M | $-305M | |
| Treasury Stock | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | |
| AOCI | $-7.0K | $-2.0K | $13.0K | $14.0K | $1.0K | $5.0K | $11.0K | $22.0K | $2.0K | $0 | · | · | · | · | · | · | |
| Stockholders' Equity | $24M | $36M | $51M | $66M | $57M | $70M | $81M | $93M | $105M | $114M | $123M | $36M | $7M | $12M | $21M | $30M | |
| Liabilities + Equity | $36M | $49M | $65M | $81M | $69M | $84M | $92M | $102M | $114M | $124M | $131M | $42M | $15M | $21M | $30M | $41M |
Cash Flow 10
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $52.0K | $52.0K | $54.0K | $53.0K | $40.0K | $40.0K | $39.0K | $37.0K | $34.0K | $33.0K | $31.0K | $31.5K | $32.0K | $33.8K | $30.6K | $33.3K | |
| Stock-based Comp | $991.0K | $889.0K | $1M | $1M | $916.0K | $963.0K | $1M | $1M | $1M | $522.0K | $507.2K | $583.9K | $569.0K | $601.1K | $746.3K | $1M | |
| Other Non-cash | $-3M | · | · | · | $-5M | · | · | · | $-1M | · | · | · | $-2M | · | · | · | |
| Operating Cash Flow | $-15M | $-16M | $-18M | $-14M | $-19M | $-10M | $-10M | $-11M | $-11M | $-7M | $-5M | $-6M | $-8M | $-7M | $-10M | $-16M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | · | · | · | $316.0K | $12.5K | $24.4K | |
| Investing Cash Flow | $0 | $-99.0K | $104.0K | $-94.0K | $-788.0K | $527.0K | $-422.0K | $-8M | $-5M | $-29.0K | $-32.0K | $0 | $0 | $-528.0K | $-12.5K | $-24.4K | |
| Stock Issued | $928.0K | · | $2M | $28M | $397.0K | · | $1M | $0 | $0 | · | $210.0K | $35M | $1M | · | · | · | |
| Net Stock Activity | $928.0K | · | · | · | $397.0K | · | · | · | $0 | · | · | · | · | · | · | · | |
| Financing Cash Flow | $909.0K | $-283.0K | $2M | $28M | $1M | $2M | $1M | $0 | $88.0K | $-380.0K | $94M | $34M | $875.0K | $-397.4K | $-304.1K | $-334.0K | |
| Net Change in Cash | $-14M | $-17M | $-15M | $14M | $-18M | $-8M | $-10M | $-19M | $-16M | $-7M | $89M | $28M | $-7M | $-8M | $-10M | $-17M |
Profitability 7
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -904.3% | · | -6450.8% | -7772.5% | -6477.1% | · | -6461.5% | -7774.3% | -14441.7% | · | -1916.4% | -2441.6% | -7199.4% | · | -184273.6% | -286709.8% | |
| Net Margin | -882.8% | · | -6237.3% | -7526.0% | -6186.5% | · | -6020.9% | -7082.5% | -12777.4% | · | -1543.5% | -2372.2% | -7101.9% | · | -184173.6% | -286609.8% | |
| Pretax Margin | -882.8% | · | -6237.3% | -7526.0% | -6186.5% | · | -6020.9% | -7078.7% | -12777.4% | · | -1543.5% | -2372.2% | -7099.4% | · | -184173.6% | -286609.8% | |
| EBITDA Margin | -900.8% | · | -6450.8% | -7772.5% | -6460.7% | · | -6461.5% | -7774.3% | -14401.2% | · | -1916.4% | -2441.6% | -7167.0% | · | -183696.2% | -286163.9% | |
| ROA | -24.9% | · | -24.0% | -21.2% | -16.6% | · | -12.6% | -17.9% | -16.7% | · | -7.9% | -15.9% | -18.7% | · | -16.2% | -24.8% | |
| ROE | -32.1% | · | -28.6% | -24.4% | -18.7% | · | -13.8% | -20.2% | -19.2% | · | -8.8% | -20.2% | -26.1% | · | -19.4% | -31.7% | |
| ROIC | -54.5% | · | -38.1% | -29.9% | -27.4% | · | -18.6% | -15.3% | -11.6% | · | -6.4% | -19.0% | -102.2% | · | -47.2% | -59.1% |
Liquidity & Solvency 3
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.1 | · | 4.7 | 5.8 | 6.0 | · | 9.3 | 13.3 | 17.8 | · | 30.8 | 13.4 | 2.9 | · | 6.1 | 6.1 | |
| Quick Ratio | 1.5 | · | 3.5 | 4.6 | 4.4 | · | 7.8 | 11.2 | 16.5 | · | 30.4 | 12.9 | 2.4 | · | 5.8 | 5.8 | |
| Debt / Equity | 0.0 | · | 0.0 | 0.0 | 0.0 | · | · | · | · | · | · | · | · | · | · | · |
Efficiency 1
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 |
Valuation (TTM) 4
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2M | · | $1M | $919.0K | $745.0K | · | $912.0K | $956.0K | $950.0K | · | $1M | $811.0K | $-360.0K | · | $-363.9K | $-185.9K | |
| Net Income TTM | $-66M | · | $-68M | $-62M | $-53M | · | $-44M | $-37M | $-31M | · | $-32M | $-35M | $-46M | · | $-64M | $-64M | |
| P/E | -0.1 | · | -0.3 | -1.9 | -1.2 | · | -2.0 | -1.8 | -1.6 | · | · | · | · | · | -0.2 | -0.4 | |
| Earnings Yield | -765.2% | · | -290.9% | -53.2% | -85.0% | · | -49.1% | -54.8% | -62.4% | · | · | · | · | · | -417.7% | -278.4% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | |
|---|---|---|---|---|---|
| Revenue | $1M | $486.0K | $1M | $-227.0K | $1M |
| Operating Margin % | -5683.7% | -11517.1% | -3103.5% | 26109.2% | -4308.3% |
| Net Income | $-70M | $-51M | $-29M | $-59M | $-48M |
| Diluted EPS | $-1.83 | $-1.67 | $-1.52 | $-8.51 | — |
Balance Sheet
| 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.0 | — | — |
| Current Ratio | 3.7 | 6.5 | 23.6 | 3.8 | 12.3 |
| Quick Ratio | 2.4 | 5.3 | 23.3 | 3.6 | 11.8 |
Cash Flow
| 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | $-26M | $-50M | $-45M |
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) 63 filers · $2.8M 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 |
|---|---|---|---|---|
| 15 (-3 vs prior Q) | 11 (0 vs prior Q) | 18 (+6 vs prior Q) | 13 (+1 vs prior Q) | -2.1M |
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 |
|---|---|---|---|---|
| Commodore Capital LP | $630,228 | 2,788,620 | 22.77% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $355,769 | 1,574,200 | 12.85% | Shares |
| TWO SIGMA INVESTMENTS, LP | $191,646 | 847,992 | 6.92% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $165,093 | 730,500 | 5.96% | Shares |
| Cubist Systematic Strategies, LLC | $156,033 | 43,953 | 5.64% | Shares |
| Ikarian Capital, LLC | $117,311 | 519,077 | 4.24% | Shares |
| AdvisorShares Investments LLC | $99,133 | 438,643 | 3.58% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $95,542 | 415,400 | 3.45% | Call option |
| TWO SIGMA ADVISERS, LP | $91,165 | 137,732 | 3.29% | Shares |
| LUMINUS MANAGEMENT LLC | $91,104 | 403,115 | 3.29% | Shares |
| ADAR1 Capital Management, LLC | $79,358 | 351,141 | 2.87% | Shares |
| MILLENNIUM MANAGEMENT LLC | $69,292 | 306,600 | 2.50% | Call option |
| GROUP ONE TRADING LLC | $68,791 | 304,385 | 2.49% | Shares |
| Verdad Advisers, LP | $66,296 | 293,343 | 2.39% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $64,588 | 285,682 | 2.33% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $49,200 | 217,700 | 1.78% | Shares |
| TUDOR INVESTMENT CORP ET AL | $37,742 | 167,000 | 1.36% | Call option |
| JANE STREET GROUP, LLC | $37,251 | 164,827 | 1.35% | Shares |
| CITADEL ADVISORS LLC | $33,674 | 149,000 | 1.22% | Call option |
| BOOTHBAY FUND MANAGEMENT, LLC | $30,413 | 134,571 | 1.10% | Shares |
| STATE STREET CORP | $27,372 | 121,114 | 0.99% | Shares |
| XTX Topco Ltd | $26,754 | 118,380 | 0.97% | Shares |
| NORTHERN TRUST CORP | $18,266 | 80,823 | 0.66% | Shares |
| JANE STREET GROUP, LLC | $17,289 | 76,500 | 0.62% | Call option |
| STEMPOINT CAPITAL LP | $17,276 | 616,749 | 0.62% | Shares |
| CITADEL ADVISORS LLC | $15,558 | 68,839 | 0.56% | Shares |
| DIADEMA PARTNERS LP | $13,040 | 57,700 | 0.47% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,189 | 44,300 | 0.37% | Put option |
| OSAIC HOLDINGS, INC. | $9,234 | 40,162 | 0.33% | Shares |
| Confluence Wealth Services, Inc. | $7,370 | 32,610 | 0.27% | Shares |
| VANGUARD GROUP INC | $7,156 | 10,809 | 0.26% | Shares |
| Scientech Research LLC | $6,844 | 30,283 | 0.25% | Shares |
| StoneX Group Inc. | $6,621 | 10,840 | 0.24% | Shares |
| R Squared Ltd | $6,270 | 27,745 | 0.23% | Shares |
| Kestra Advisory Services, LLC | $5,876 | 26,000 | 0.21% | Shares |
| JANE STREET GROUP, LLC | $5,537 | 24,500 | 0.20% | Put option |
| HighTower Advisors, LLC | $4,662 | 20,628 | 0.17% | Shares |
| Tower Research Capital LLC (TRC) | $4,099 | 18,136 | 0.15% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,745 | 16,570 | 0.14% | Shares |
| Truvestments Capital LLC | $3,512 | 15,540 | 0.13% | Shares |
| CITADEL ADVISORS LLC | $3,413 | 15,100 | 0.12% | Put option |
| Farther Finance Advisors, LLC | $3,390 | 15,000 | 0.12% | Shares |
| SIMPLEX TRADING, LLC | $3,230 | 14,295 | 0.12% | Shares |
| DEUTSCHE BANK AG\ | $2,760 | 12,000 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $2,443 | 10,809 | 0.09% | Shares |
| UBS Group AG | $2,260 | 10,000 | 0.08% | Shares |
| Performa Ltd (US), LLC | $1,243 | 5,500 | 0.04% | Shares |
| RAYMOND JAMES FINANCIAL INC | $1,130 | 5,000 | 0.04% | Shares |
| CITIGROUP INC | $864 | 3,822 | 0.03% | Shares |
| CWM, LLC | $333 | 582 | 0.01% | Shares |
| Persistent Asset Partners Ltd | $290 | 48 | 0.01% | Call option |
| ACADIAN ASSET MANAGEMENT LLC | $178 | 794,579 | 0.01% | Shares |
| Integrated Wealth Concepts LLC | $126 | 556 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $80 | 114 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $65 | 289 | 0.00% | Shares |
| JPMORGAN CHASE & CO | $50 | 66 | 0.00% | Shares |
| MORGAN STANLEY | $30 | 132 | 0.00% | Shares |
| Virtu Financial LLC | $15 | 66,021 | 0.00% | Shares |
| GSA CAPITAL PARTNERS LLP | $12 | 54,584 | 0.00% | Shares |
| Fairman Group, LLC | $7 | 29 | 0.00% | Shares |
| BlackRock, Inc. | $1 | 3 | 0.00% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1 | 6 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $0 | 500 | 0.00% | Shares |
Company insiders 26 insiders · 13 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Shawn Singh | President and CEO | June 30, 2026 A | 54,846 | 0 | 0 | $0 |
| Nick B. Tressler | Chief Financial Officer | June 30, 2026 A | 11,712 | 0 | 0 | $0 |
| Cynthia Lynn Anderson | CHIEF FINANCIAL OFFICER | June 30, 2025 A | 12,801 | 0 | 0 | $0 |
| Jerrold Duane Dotson | VP, CFO | June 30, 2023 A | 3,671 | 0 | 0 | $0 |
| Stephanie Jones | PRESIDENT | May 9, 2011 S | 17,897 | 0 | 0 | $0 |
| Joshua S. Prince | Chief Operating Officer | June 30, 2025 A | 10,863 | 0 | 0 | $0 |
| Reid G. Adler | Chief Legal Officer | June 30, 2026 A | 60,868 | 0 | 0 | $0 |
| Elissa S. Cote | Chief Corp Development Officer | June 23, 2025 A | — | 0 | 0 | $0 |
| Mark Alan Smith | CHIEF MEDICAL OFFICER | June 30, 2022 A | 19,915 | 0 | 0 | $0 |
| Ralph H. Snodgrass | PRES./CHIEF SCIENTIFIC OFFICER | Dec. 31, 2021 A | 64,958 | 0 | 0 | $0 |
| Mark J Ginski | SENIOR VP, HEAD OF CMC | Feb. 1, 2021 A | — | 0 | 0 | $0 |
| Mark A. Mcpartland | VP CORPORATE DEVELOPMENT | Dec. 30, 2020 A | — | 0 | 0 | $0 |
| Franklin A. Rice | VP CORPORATE DEVELOPMENT | May 3, 2012 G | 174,046 | 0 | 0 | $0 |
| Douglas J Williamson | Director | July 29, 2026 A | — | 0 | 0 | $0 |
| Margaret M Fitzpatrick | Director | Sept. 9, 2025 A | — | 0 | 0 | $0 |
| Mary L. Rotunno | Director | Sept. 9, 2025 A | — | 0 | 0 | $0 |
| Joanne Curley | Director | Sept. 9, 2025 A | — | 0 | 0 | $0 |
| Ann Michelle Cunningham | Director | Sept. 9, 2025 A | — | 0 | 0 | $0 |
| Jon S Saxe | Director | Sept. 9, 2025 A | 5,751 | 0 | 0 | $0 |
| Jerry B Gin | Director | Sept. 6, 2024 A | 100,000 | 0 | 0 | $0 |
| Brian J. Underdown | Director | March 19, 2021 M | 2,500 | 0 | 0 | $0 |
| Gregory A. Bonfiglio | Director | Feb. 13, 2012 A | — | 0 | 0 | $0 |
| COMMODORE CAPITAL LP | 10% owner | Oct. 4, 2023 A | 1,575,000 | 0 | 0 | $0 |
| Allen Easley Cato | 10% owner | Dec. 15, 2011 X | 28,497 | 0 | 0 | $0 |
| CATO HOLDING CO | 10% owner | Dec. 15, 2011 P | 3,310,836 | 0 | 0 | $0 |
| Platinum Long Term Growth VII, LLC | — | Dec. 22, 2011 J | 1,558,862 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
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 |
|---|---|---|---|---|---|
| Aug. 12, 2022 | — | Initial filing | — | SEC | |
| Growth Equity Opportunities 17, LLC, New Enterprise Associates 17, L.P., NEA Partners 17, L.P., NEA 17 GP, LLC, Forest Baskett, Ali Behbahani, Carmen Chang, Anthony A. Florence, Jr., Liza Landsman, Mohamad H. Makhzoumi, Joshua Makower, Edward T. Mathers, Scott D. Sandell, Peter W. Sonsini, Paul Walker, Rick Yang ×2 filings | April 29, 2021 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | July 27, 2011 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | July 27, 2011 | — | Initial filing | Passive investment | SEC |
| Cato Holding Company, Allen E. Cato, Ph.D., M.D. | June 14, 2011 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 3 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.