ZNTL Zentalis Pharmaceuticals, Inc. - common stock
$3.75
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$1–$7
44% of range
Analyst Rating
BUY
16 analysts
Price Target
$7
+84% upside
P/E (TTM)
-2.0
ROE
-49.5%
Net Profit Margin
—
ZNTL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.75
Market Cap
$267M
P/E (TTM)
-2.0
EPS (TTM)
$-1.91
Revenue (TTM)
$0
Div Yield
—
ROE
-49.5%
Debt/Equity
—
52W Range
$1 – $7
ZNTL 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
$0
2022-12-31
→
2025-12-31
EPS
$-1.91
2019-12-31
→
2025-12-31
Free Cash Flow
$-125M
2020-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ZNTL
Peer Median
P/E (TTM)
-2.0
6.1
P/B
1.2
2.2
Price / FCF
-2.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ZNTL
Peer Median
ROA
-38.1%
-50.0%
ROE
-49.5%
-44.8%
ROIC
-70.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ZNTL
Peer Median
Current Ratio
6.9
5.9
Quick Ratio
1.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ZNTL
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ZNTL
Peer Median
ZNTL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
16 analysts
- Strong Buy 4 25.0%
- Buy 6 37.5%
- Hold 6 37.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-18
Median
$6.00
Mean
$6.89
← Below all targets
$3.75
Low
$4.00
High
$10.00
Median target
$6.00
+60.0%
Mean target
$6.89
+83.7%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.59 | $-0.50 | -0.09% |
| March 31, 2026 | $-0.50 | $-0.49 | -0.01% |
| Dec. 31, 2025 | $-0.50 | $-0.59 | 0.09% |
| Sept. 30, 2025 | $-0.37 | $-0.54 | 0.17% |
| June 30, 2025 | $-0.37 | $-0.59 | 0.22% |
| March 31, 2025 | $-0.56 | $-0.65 | 0.09% |
| Dec. 31, 2024 | $-0.62 | $-0.72 | 0.10% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ZNTL | $93M | -0.7 | — | — | -49.5% | — |
| ENTA | $256M | -3.1 | -3.4% | -125.4% | -103.5% | — |
| DMAC | $428M | — | — | — | -78.7% | — |
| GALT | $271M | -8.7 | — | — | 25.0% | — |
| STRO | $99M | -0.5 | 65.2% | -186.5% | 232.2% | — |
| IPSC | $87M | -7.1 | 1556.8% | -8.8% | -5.2% | — |
| SABS | — | — | — | — | — | — |
| ABEO | $290M | 5.2 | 147.5% | 1223.1% | 44.1% | — |
| IMRX | — | -5.2 | — | — | -45.3% | — |
| TLSI | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $0 | $67M | $0 | $0 | |
| R&D Expense | $107M | $168M | $190M | $173M | |
| SG&A Expense | $38M | $87M | $64M | $55M | |
| Operating Expenses | $153M | $259M | $300M | $227M | |
| Operating Income | $-153M | $-191M | $-300M | $-227M | |
| Pretax Income | $-137M | $-166M | $-293M | $-238M | |
| Income Tax | $442.0K | $177.0K | $-601.0K | $-469.0K | |
| Net Income | $-137M | $-166M | $-292M | $-237M | |
| EPS (Basic) | $-1.91 | $-2.33 | $-4.47 | $-4.48 | |
| EPS (Diluted) | $-1.91 | $-2.33 | $-4.47 | $-4.48 | |
| Shares (Basic) | 71,869,000 | 71,080,000 | 65,409,000 | 52,857,000 | |
| Shares (Diluted) | 71,869,000 | 71,080,000 | 65,409,000 | 52,857,000 | |
| EBITDA | $-152M | $-190M | $-298M | $-226M |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $36M | $34M | $28M | $43M | |
| Receivables | $0 | $5M | $0 | · | |
| Prepaid Expense | $7M | $10M | $14M | $15M | |
| Current Assets | $253M | $386M | $497M | $452M | |
| PP&E (Net) | $3M | $5M | $6M | $8M | |
| PP&E (Gross) | $6M | $9M | $9M | $10M | |
| Accum. Depreciation | $3M | $4M | $3M | $2M | |
| Goodwill | · | $0 | $4M | $4M | |
| Total Assets | $289M | $430M | $552M | $539M | |
| Accounts Payable | $7M | $7M | $15M | $11M | |
| Accrued Liabilities | $29M | $45M | $54M | $45M | |
| Current Liabilities | $37M | $53M | $69M | $57M | |
| Capital Leases | $36M | $40M | $43M | $45M | |
| Deferred Tax | · | · | $0 | $853.0K | |
| Other Non-current Liabilities | $500.0K | $849.0K | $2M | $3M | |
| Total Liabilities | $73M | $93M | $114M | $105M | |
| Common Stock | $69.0K | $71.0K | $70.0K | $59.0K | |
| Paid-in Capital | $1.41B | $1.39B | $1.32B | $1.03B | |
| Retained Earnings | $-1.19B | $-1.05B | $-889M | $-596M | |
| AOCI | $196.0K | $558.0K | $2M | $-1M | |
| Stockholders' Equity | $216M | $337M | $437M | $434M | |
| Liabilities + Equity | $289M | $430M | $552M | $539M | |
| Shares Outstanding | 69,085,980 | 71,282,000 | 70,767,000 | 59,280,000 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $739.0K | $1M | $1M | $1M | |
| Stock-based Comp | $21M | $67M | $55M | $47M | |
| Deferred Tax | $51.0K | $-63.0K | $-891.0K | $-778.0K | |
| Restructuring | $8M | $0 | $0 | · | |
| Other Non-cash | $-10M | $-74M | $29M | $26M | |
| Operating Cash Flow | $-125M | $-171M | $-208M | $-164M | |
| CapEx | $0 | $221.0K | $583.0K | $3M | |
| Investing Cash Flow | $132M | $177M | $-44M | $-114M | |
| Stock Issued | $5M | $0 | $236M | $258M | |
| Stock Repurchased | $10M | $0 | $0 | · | |
| Net Stock Activity | $-5M | $0 | $236M | $258M | |
| Financing Cash Flow | $-4M | $108.0K | $237M | $261M | |
| Net Change in Cash | $2M | $6M | $-15M | $-17M | |
| Taxes Paid | $85.0K | · | · | · | |
| Free Cash Flow | $-125M | $-171M | $-208M | $-166M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Margin | · | -283.6% | · | · | |
| Net Margin | · | -246.0% | · | · | |
| Pretax Margin | · | -245.7% | · | · | |
| EBITDA Margin | · | -281.6% | · | · | |
| ROA | -38.1% | -33.8% | -53.6% | -47.7% | |
| ROE | -49.5% | -42.8% | -67.1% | -59.3% | |
| ROIC | -70.9% | -56.8% | -68.3% | -52.3% |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 6.9 | 7.3 | 7.2 | 8.0 | |
| Quick Ratio | 1.0 | 0.7 | 0.4 | 0.8 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | · | · | |
| Receivables Turnover | 0.0 | 27.0 | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $0 | $67M | $0 | $0 | |
| Net Income TTM | $-137M | $-166M | $-292M | $-237M | |
| Market Cap | $93M | $216M | $1.07B | $1.19B | |
| P/E | -0.7 | -1.3 | -3.4 | -4.5 | |
| P/S | · | 3.2 | · | · | |
| P/B | 0.4 | 0.6 | 2.5 | 2.8 | |
| P / Tangible Book | 0.4 | 0.6 | 2.5 | 2.8 | |
| P / Cash Flow | -0.7 | -1.3 | -5.2 | -7.3 | |
| P / FCF | -0.7 | -1.3 | -5.1 | -7.2 | |
| Earnings Yield | -141.5% | -76.9% | -29.5% | -22.2% |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $0 | $0 | $0 | $0 | $27M | $0 | $0 | $41M | $0 | $0 | $0 | $0 | |
| R&D Expense | $35M | $29M | $29M | $23M | $28M | $27M | $33M | $37M | $48M | $50M | $52M | $47M | $43M | $49M | |
| SG&A Expense | $9M | $9M | $8M | $11M | $8M | $11M | $40M | $15M | $17M | $16M | $16M | $16M | $16M | $16M | |
| Operating Expenses | $44M | $38M | $37M | $34M | $36M | $46M | $77M | $51M | $65M | $65M | $68M | $63M | $104M | $65M | |
| Operating Income | $-44M | $-38M | $-37M | $-34M | $-36M | $-46M | $-50M | $-51M | $-65M | $-25M | $-68M | $-63M | $-104M | $-65M | |
| Pretax Income | $-42M | $-35M | $-35M | $-27M | $-27M | $-48M | $-48M | $-40M | $-88M | $10M | $-77M | $-56M | $-99M | $-61M | |
| Income Tax | $138.0K | $120.0K | $442.0K | $0 | $0 | $0 | $-205.0K | $-27.0K | $266.0K | $143.0K | $-135.0K | $31.0K | $-605.0K | $108.0K | |
| Net Income | $-42M | $-35M | $-35M | $-27M | $-27M | $-48M | $-47M | $-40M | $-88M | $10M | $-61M | $-56M | $-113M | $-63M | |
| EPS (Basic) | $-0.59 | $-0.50 | $-0.50 | $-0.37 | $-0.37 | $-0.67 | $-0.67 | $-0.56 | $-1.24 | $0.14 | $-0.76 | $-0.79 | $-1.85 | $-1.07 | |
| EPS (Diluted) | $-0.59 | $-0.50 | $-0.50 | $-0.37 | $-0.37 | $-0.67 | $-0.67 | $-0.56 | $-1.24 | $0.14 | $-0.76 | $-0.79 | $-1.85 | $-1.07 | |
| Shares (Basic) | 71,326,000 | 70,264,000 | -143,940,000 | 72,139,000 | 71,992,000 | 71,678,000 | -141,969,000 | 71,111,000 | 71,040,000 | 70,898,000 | -125,270,000 | 70,612,000 | 60,790,000 | 59,277,000 | |
| Shares (Diluted) | 71,326,000 | 70,264,000 | -143,940,000 | 72,139,000 | 71,992,000 | 71,678,000 | -142,263,000 | 71,111,000 | 71,040,000 | 71,192,000 | -125,270,000 | 70,612,000 | 60,790,000 | 59,277,000 | |
| EBITDA | $-44M | $-38M | · | $-34M | $-36M | $-45M | · | $-51M | $-65M | $-24M | · | $-62M | $-104M | $-65M |
Balance Sheet 23
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $25M | $32M | $36M | $39M | $38M | $42M | $34M | $41M | $37M | $38M | $28M | $111M | $267M | $36M | |
| Receivables | · | · | $0 | $0 | $0 | $0 | $5M | · | · | · | · | · | · | · | |
| Prepaid Expense | $7M | $6M | $7M | $8M | $8M | $10M | $10M | $9M | $13M | $15M | · | $12M | $11M | $18M | |
| Current Assets | $181M | $218M | $253M | $288M | $312M | $343M | $386M | $400M | $440M | $504M | · | $528M | $564M | $410M | |
| PP&E (Net) | $2M | $3M | $3M | $3M | $3M | $3M | $5M | $5M | $5M | $6M | · | $6M | $7M | $7M | |
| PP&E (Gross) | $6M | $6M | $6M | $6M | $6M | $6M | $9M | $9M | $9M | $9M | · | $10M | $9M | $10M | |
| Accum. Depreciation | $3M | $3M | $3M | $3M | $3M | $2M | $4M | $4M | $4M | $3M | · | $3M | $3M | $3M | |
| Goodwill | · | · | · | · | · | · | · | $4M | $4M | $4M | · | $4M | $4M | $4M | |
| Total Assets | $215M | $253M | $289M | $327M | $352M | $384M | $430M | $451M | $492M | $557M | · | $586M | $621M | $489M | |
| Accounts Payable | $8M | $7M | $7M | $7M | $4M | $8M | $7M | $8M | $20M | $11M | · | $14M | $12M | $13M | |
| Accrued Liabilities | $29M | $28M | $29M | $30M | $35M | $42M | $45M | $47M | $46M | $44M | · | $45M | $39M | $44M | |
| Current Liabilities | $38M | $35M | $37M | $37M | $39M | $49M | $53M | $55M | $67M | $55M | · | $59M | $52M | $56M | |
| Capital Leases | $34M | $35M | $36M | $37M | $38M | $39M | $40M | $40M | $41M | $43M | · | $43M | $44M | $45M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $756.0K | |
| Other Non-current Liabilities | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $558.0K | $849.0K | $996.0K | $1M | $1M | · | $2M | $2M | $2M | |
| Total Liabilities | $72M | $70M | $73M | $74M | $77M | $89M | $93M | $96M | $109M | $99M | · | $104M | $98M | $104M | |
| Common Stock | $72.0K | $71.0K | $69.0K | $72.0K | $72.0K | $72.0K | $71.0K | $71.0K | $71.0K | $70.0K | · | $70.0K | $70.0K | $59.0K | |
| Paid-in Capital | $1.41B | $1.41B | $1.41B | $1.41B | $1.40B | $1.40B | $1.39B | $1.36B | $1.35B | $1.34B | · | $1.31B | $1.30B | $1.05B | |
| Retained Earnings | $-1.27B | $-1.23B | $-1.19B | $-1.16B | $-1.13B | $-1.10B | $-1.05B | $-1.01B | $-967M | $-878M | · | $-828M | $-772M | $-660M | |
| AOCI | $-78.0K | $-50.0K | $196.0K | $186.0K | $59.0K | $358.0K | $558.0K | $2M | $140.0K | $773.0K | · | $-359.0K | $-338.0K | $-556.0K | |
| Stockholders' Equity | $144M | $183M | $216M | $253M | $274M | $295M | $337M | $354M | $383M | $459M | · | $482M | $523M | $385M | |
| Liabilities + Equity | $215M | $253M | $289M | $327M | $352M | $384M | $430M | $451M | $492M | $557M | · | $586M | $621M | $489M | |
| Shares Outstanding | 71,668,568 | 71,156,113 | 69,085,980 | 72,245,529 | 72,135,453 | 71,950,683 | 71,282,400 | 71,149,666 | 71,106,719 | 71,011,982 | 70,767,000 | 70,640,684 | 70,603,663 | 59,442,342 |
Cash Flow 11
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $152.0K | $151.0K | $157.0K | $160.0K | $160.0K | $262.0K | $317.0K | $321.0K | $327.0K | $324.0K | $337.0K | $348.0K | $344.0K | $360.0K | |
| Stock-based Comp | $3M | $3M | $3M | $5M | $6M | $6M | $31M | $10M | $13M | $13M | $14M | $14M | $13M | $14M | |
| Restructuring | $0 | $0 | $0 | $0 | $0 | $8M | $0 | $0 | $0 | $0 | · | · | · | · | |
| Other Non-cash | · | $-952.0K | · | · | · | $9M | · | · | · | $-75M | · | · | · | $-157.0K | |
| Operating Cash Flow | $-37M | $-33M | $-31M | $-27M | $-35M | $-33M | $-40M | $-44M | $-35M | $-52M | $-41M | $-39M | $-79M | $-49M | |
| CapEx | $0 | $34.0K | $0 | $0 | $0 | $0 | $0 | $0 | $181.0K | $40.0K | $173.0K | $91.0K | $319.0K | $0 | |
| Investing Cash Flow | $30M | $30M | $32M | $28M | $30M | $40M | $32M | $48M | $34M | $62M | $-42M | $-117M | $73M | $42M | |
| Stock Issued | · | · | · | · | · | · | $0 | $0 | · | · | $0 | $0 | · | · | |
| Financing Cash Flow | $65.0K | $-1M | $-5M | $115.0K | $0 | $189.0K | $0 | $92.0K | $9.0K | $7.0K | $0 | $309.0K | $237M | $373.0K | |
| Net Change in Cash | $-7M | $-4M | $-3M | $1M | $-4M | $8M | $-7M | $4M | $-640.0K | $10M | $-83M | $-156M | $230M | $-7M | |
| Free Cash Flow | · | $-33M | · | · | · | $-33M | · | · | · | $-52M | · | · | · | $-49M |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | · | · | · | · | -61.1% | · | · | · | · | |
| Net Margin | · | · | · | · | · | · | · | · | · | 24.8% | · | · | · | · | |
| Pretax Margin | · | · | · | · | · | · | · | · | · | 25.1% | · | · | · | · | |
| EBITDA Margin | · | · | · | · | · | · | · | · | · | -60.3% | · | · | · | · | |
| ROA | -14.9% | -11.1% | · | -6.9% | -6.4% | -10.3% | · | -7.8% | -15.9% | 1.9% | · | -10.0% | -18.9% | -14.1% | |
| ROE | -20.2% | -14.8% | · | -8.8% | -8.2% | -12.8% | · | -9.6% | -19.5% | 2.4% | · | -12.2% | -22.6% | -18.0% | |
| ROIC | -31.0% | -20.8% | · | -13.3% | -13.1% | -15.4% | · | -14.5% | -17.1% | -5.3% | · | -13.0% | -19.7% | -16.9% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.8 | 6.2 | · | 7.8 | 8.0 | 6.9 | · | 7.3 | 6.6 | 9.2 | · | 9.0 | 10.9 | 7.3 | |
| Quick Ratio | 0.7 | 0.9 | · | 1.1 | 1.0 | 0.8 | · | 0.8 | 0.6 | 0.7 | · | 1.9 | 5.2 | 0.6 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.1 | · | · | · | · | |
| Receivables Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | · | · | · | · | · | · | · |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | · | $0 | $0 | $41M | · | $41M | $41M | $41M | · | · | · | · | |
| Net Income TTM | $-131M | $-137M | · | $-142M | $-204M | $-167M | · | $-174M | $-246M | $-221M | · | $-286M | $-299M | $-245M | |
| Market Cap | $348M | $167M | · | $109M | $84M | $114M | · | $262M | $291M | $1.12B | · | $1.42B | $1.99B | $1.02B | |
| P/E | -2.7 | -1.2 | · | -0.8 | -0.4 | -0.7 | · | -1.5 | -1.1 | -4.4 | · | -4.3 | -5.4 | -3.7 | |
| P/S | · | · | · | · | · | 2.8 | · | 6.5 | 7.2 | 27.6 | · | · | · | · | |
| P/B | 2.4 | 0.9 | · | 0.4 | 0.3 | 0.4 | · | 0.7 | 0.8 | 2.4 | · | 2.9 | 3.8 | 2.7 | |
| P / Tangible Book | 2.4 | 0.9 | · | 0.4 | 0.3 | 0.4 | · | 0.7 | 0.8 | 2.5 | · | 3.0 | 3.8 | 2.7 | |
| P / Cash Flow | · | -5.1 | · | · | · | -3.5 | · | · | · | -21.5 | · | · | · | -20.7 | |
| P / FCF | · | -5.0 | · | · | · | -3.5 | · | · | · | -21.5 | · | · | · | -20.7 | |
| Earnings Yield | -37.7% | -81.6% | · | -130.5% | -244.8% | -146.5% | · | -66.6% | -91.4% | -22.7% | · | -23.3% | -18.5% | -27.2% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $0 | $67M | $0 | $0 | — |
| Operating Margin % | — | -283.6% | — | — | — |
| Net Income | $-137M | $-166M | $-292M | $-237M | $-159M |
| Diluted EPS | $-1.91 | $-2.33 | $-4.47 | $-4.48 | $-3.72 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 6.9 | 7.3 | 7.2 | 8.0 | — |
| Quick Ratio | 1.0 | 0.7 | 0.4 | 0.8 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-125M | $-171M | $-208M | $-166M | — |
Latest News Recent headlines mentioning this company
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) 129 filers · $188.0M 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 |
|---|---|---|---|---|
| 41 (+13 vs prior Q) | 19 (+9 vs prior Q) | 26 (-6 vs prior Q) | 35 (+13 vs prior Q) | +4.0M |
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 |
|---|---|---|---|---|
| 5AM Venture Management, LLC | $19,147,378 | 3,947,913 | 10.19% | Shares |
| Squadron Capital Management LLC | $17,945,000 | 3,700,000 | 9.55% | Shares |
| TWO SIGMA INVESTMENTS, LP | $14,670,940 | 3,024,936 | 7.80% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $13,752,995 | 2,835,669 | 7.32% | Shares |
| CITADEL ADVISORS LLC | $10,666,687 | 2,199,317 | 5.67% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $7,804,028 | 1,609,078 | 4.15% | Shares |
| Opaleye Management Inc. | $6,851,382 | 1,412,656 | 3.64% | Shares |
| ORBIMED ADVISORS LLC | $6,744,294 | 1,390,576 | 3.59% | Shares |
| Decheng Capital LLC | $6,418,136 | 1,323,327 | 3.41% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $5,306,560 | 1,093,779 | 2.82% | Shares |
| Ishara Investments LP | $4,971,250 | 1,025,000 | 2.64% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $4,643,487 | 957,420 | 2.47% | Shares |
| Soleus Capital Management, L.P. | $4,607,500 | 950,000 | 2.45% | Shares |
| STATE STREET CORP | $4,303,968 | 887,416 | 2.29% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $3,921,458 | 808,548 | 2.09% | Shares |
| Pfizer Inc | $3,853,489 | 953,834 | 2.05% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $3,676,460 | 758,033 | 1.96% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,221,763 | 664,281 | 1.71% | Shares |
| ADAR1 Capital Management, LLC | $3,165,838 | 652,750 | 1.68% | Shares |
| Qube Research & Technologies Ltd | $2,787,809 | 574,806 | 1.48% | Shares |
| D. E. Shaw & Co., Inc. | $2,650,845 | 546,566 | 1.41% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $2,228,114 | 459,405 | 1.19% | Shares |
| Squadron Capital Management LLC | $2,066,100 | 426,000 | 1.10% | Call option |
| TWO SIGMA ADVISERS, LP | $2,002,725 | 1,483,500 | 1.07% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,634,159 | 336,940 | 0.87% | Shares |
| FMR LLC | $1,504,780 | 310,264 | 0.80% | Shares |
| GOLDMAN SACHS GROUP INC | $1,469,458 | 302,981 | 0.78% | Shares |
| TYBOURNE CAPITAL MANAGEMENT (HK) LTD | $1,451,844 | 961,486 | 0.77% | Shares |
| Seven Fleet Capital Management LP | $1,451,432 | 317,600 | 0.77% | Shares |
| UBS Group AG | $1,442,283 | 297,378 | 0.77% | Shares |
| XTX Topco Ltd | $1,405,011 | 289,693 | 0.75% | Shares |
| Creative Planning | $1,382,250 | 285,000 | 0.74% | Shares |
| SEI INVESTMENTS CO | $1,241,983 | 256,079 | 0.66% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,043,298 | 215,113 | 0.56% | Shares |
| Peapod Lane Capital LLC | $983,890 | 202,864 | 0.52% | Shares |
| CDC Financial, Inc. | $862,146 | 177,762 | 0.46% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $833,768 | 171,911 | 0.44% | Shares |
| Stonepine Capital Management, LLC | $783,678 | 161,583 | 0.42% | Shares |
| BARCLAYS PLC | $747,090 | 154,039 | 0.40% | Shares |
| Anfield Capital Management, LLC | $642,367 | 274,516 | 0.34% | Shares |
| Informed Momentum Co LLC | $615,286 | 126,863 | 0.33% | Shares |
| Quarry LP | $606,803 | 125,114 | 0.32% | Shares |
| MARSHALL WACE, LLP | $584,682 | 120,553 | 0.31% | Shares |
| Susquehanna Portfolio Strategies, LLC | $543,792 | 112,122 | 0.29% | Shares |
| BARR E S & CO | $533,500 | 110,000 | 0.28% | Shares |
| JANE STREET GROUP, LLC | $481,120 | 99,200 | 0.26% | Call option |
| AMERICAN CENTURY COMPANIES INC | $474,121 | 97,757 | 0.25% | Shares |
| FEDERATED HERMES, INC. | $409,204 | 84,372 | 0.22% | Shares |
| SIMPLEX TRADING, LLC | $382,684 | 78,904 | 0.20% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $374,905 | 77,300 | 0.20% | Shares |
| ExodusPoint Capital Management, LP | $363,585 | 74,966 | 0.19% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $335,824 | 68,816 | 0.18% | Shares |
| Nuveen, LLC | $323,369 | 66,674 | 0.17% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $297,850 | 61,412 | 0.16% | Shares |
| RHUMBLINE ADVISERS | $270,430 | 55,760 | 0.14% | Shares |
| DEUTSCHE BANK AG\ | $236,709 | 48,806 | 0.13% | Shares |
| Bank of New York Mellon Corp | $210,345 | 43,370 | 0.11% | Shares |
| WELLS FARGO & COMPANY/MN | $203,200 | 41,897 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $200,305 | 41,300 | 0.11% | Call option |
| Verdad Advisers, LP | $192,099 | 39,608 | 0.10% | Shares |
| Quadrature Capital Ltd | $182,423 | 37,613 | 0.10% | Shares |
| Private Advisor Group, LLC | $176,889 | 36,472 | 0.09% | Shares |
| BlackRock, Inc. | $153,852 | 31,722 | 0.08% | Shares |
| MetLife Investment Management, LLC | $145,961 | 30,095 | 0.08% | Shares |
| RBF Capital, LLC | $145,500 | 30,000 | 0.08% | Shares |
| Regency Capital Management Inc.\DE | $143,075 | 29,500 | 0.08% | Shares |
| Marquette Asset Management, LLC | $140,520 | 28,973 | 0.07% | Shares |
| BANK OF AMERICA CORP /DE/ | $140,175 | 28,902 | 0.07% | Shares |
| CITADEL ADVISORS LLC | $128,525 | 26,500 | 0.07% | Call option |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $125,916 | 25,962 | 0.07% | Shares |
| TORONTO DOMINION BANK | $114,295 | 23,566 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $111,729 | 23,037 | 0.06% | Shares |
| Graham Capital Management, L.P. | $108,436 | 22,358 | 0.06% | Shares |
| Nuveen Asset Management, LLC | $107,020 | 35,320 | 0.06% | Shares |
| Cubist Systematic Strategies, LLC | $106,619 | 70,609 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $105,366 | 21,725 | 0.06% | Shares |
| Carson Advisory Inc. | $102,675 | 21,170 | 0.05% | Shares |
| CITIGROUP INC | $98,091 | 20,225 | 0.05% | Shares |
| Sivia Capital Partners, LLC | $97,000 | 20,000 | 0.05% | Shares |
| Invesco Ltd. | $96,753 | 19,949 | 0.05% | Shares |
| State of Wyoming | $90,967 | 18,756 | 0.05% | Shares |
| RAYMOND JAMES FINANCIAL INC | $86,257 | 17,785 | 0.05% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $75,175 | 15,500 | 0.04% | Shares |
| Police & Firemen's Retirement System of New Jersey | $71,562 | 14,755 | 0.04% | Shares |
| JANE STREET GROUP, LLC | $69,816 | 14,395 | 0.04% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $69,302 | 14,289 | 0.04% | Shares |
| PRELUDE CAPITAL MANAGEMENT, LLC | $67,139 | 13,843 | 0.04% | Shares |
| Scientech Research LLC | $66,023 | 13,613 | 0.04% | Shares |
| Squarepoint Ops LLC | $65,412 | 13,487 | 0.03% | Shares |
| CITADEL ADVISORS LLC | $62,565 | 12,900 | 0.03% | Put option |
| OPPENHEIMER & CO INC | $61,382 | 12,656 | 0.03% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $61,110 | 12,600 | 0.03% | Put option |
| Spark Investment Management LLC | $60,625 | 12,500 | 0.03% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $60,523 | 12,479 | 0.03% | Shares |
| nVerses Capital, LLC | $53,146 | 10,958 | 0.03% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $50,731 | 10,460 | 0.03% | Shares |
| Cornerstone Wealth Management, LLC | $49,402 | 10,186 | 0.03% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $48,966 | 10,096 | 0.03% | Shares |
| ALLIANCEBERNSTEIN L.P. | $40,014 | 17,100 | 0.02% | Shares |
| NORTHERN TRUST CORP | $37,976 | 7,830 | 0.02% | Shares |
Company insiders 10 insiders · 3 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Anthony Y Sun | President & CEO | April 7, 2020 A | 2,145,680 | 0 | 0 | $0 |
| Melissa B, Epperly | Chief Financial Officer | April 7, 2020 A | 277,529 | 0 | 0 | $0 |
| Kevin D. Bunker | Chief Operating Officer | April 7, 2020 A | 544,650 | 0 | 0 | $0 |
| Enoch Kariuki | Director | June 16, 2026 A | 194,465 | 0 | 0 | $0 |
| Jan Skvarka | Director | June 16, 2026 A | 264,254 | 0 | 0 | $0 |
| David Michael Johnson | Director | June 16, 2026 A | 307,521 | 0 | 0 | $0 |
| Luke Nathaniel Walker | Director | June 16, 2026 A | 201,384 | 0 | 0 | $0 |
| Scott Dunseth Myers | Director | June 16, 2026 A | 395,895 | 0 | 0 | $0 |
| Kimberly Blackwell | Director | July 1, 2020 A | — | 0 | 0 | $0 |
| Cam Gallagher | — | April 7, 2020 A | 489,143 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
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 |
|---|---|---|---|---|---|
| Matrix Capital Management Company, LP, David E. Goel ×2 filings | Jan. 2, 2026 | 0.00% | Amendment | — | SEC |
| Matrix Capital Management Company LP, David E. Goel ×2 filings | June 20, 2023 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 15 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FSCC · Federated Hermes ETF Trust | 0.11% | 79,362 NS | May 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.06% | 171,328 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 21,464 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 43,495 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 481,349 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 113,589 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 78,150 NS | May 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 289,218 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,213,598 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 112,118 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 10,252 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 575,846 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,187,299 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,227 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.00% | 151,148 SH | Aug. 8, 2026 | Daily |