Revenue
2017
2018
2019
2020
2021
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.8M | $18.7M | $31.2M | $29.8M | $6.8M | $6.5M | $4.2M | $6.2M | $1.7M | — | — | — | — |
| Gross profit | $5.7M | $15.9M | $27.8M | $25.7M | $2.0M | $1.3M | $172,000 | $3.2M | $476,000 | — | — | — | — |
| Gross margin | 73.28% | 85.09% | 89.05% | 86.48% | 30.29% | 20.81% | 4.07% | 52.69% | 28.28% | — | — | — | — |
| Research & development | $52.6M | $33.6M | $98.4M | $77.8M | $43.8M | $29.3M | $64.2M | $60.8M | $35.8M | $33.5M | $15.3M | $6.5M | $3.5M |
| Operating expenses | $84.2M | $160.7M | $128.6M | $119.6M | $96.5M | $57.4M | $115.3M | $90.9M | $56.0M | $48.6M | $20.7M | $8.5M | $5.3M |
| Operating income | −$76.4M | −$141.9M | −$97.4M | −$89.9M | −$89.7M | −$50.9M | −$111.1M | −$84.8M | −$54.4M | −$48.6M | −$20.7M | −$8.5M | −$5.3M |
| Operating margin | −975.91% | −758.18% | −311.55% | −302.01% | −1,327.07% | −785.44% | −2,627.35% | −1,378.31% | −3,230.01% | — | — | — | — |
| EBITDA | −$75.9M | −$141.1M | −$96.5M | −$89.1M | −$88.8M | −$49.6M | −$104.6M | −$82.9M | −$54.0M | −$48.4M | −$20.6M | −$8.5M | −$5.2M |
| EBITDA margin | −970.11% | −753.87% | −308.79% | −299.33% | −1,313.42% | −765.01% | −2,475.73% | −1,347.76% | −3,206.12% | — | — | — | — |
| Net income | −$64.9M | −$132.1M | −$88.5M | −$86.9M | −$90.9M | −$51.0M | −$161.4M | −$132.7M | −$68.5M | −$48.1M | −$20.6M | −$8.5M | −$5.2M |
| Net profit margin | −829.58% | −705.48% | −283.15% | −292.11% | −1,343.96% | −787.03% | −3,817.22% | −2,157.99% | −4,071.48% | — | — | — | — |
| Basic EPSper basic share | -$0.53 | -$1.71 | -$1.27 | -$1.33 | -$1.60 | -$1.20 | -$3.90 | -$4.03 | -$2.44 | -$2.25 | -$3.79 | -$6.15 | -$6.45 |
| Diluted EPSper diluted share | -$0.53 | -$1.71 | -$1.27 | -$1.33 | -$1.60 | -$1.20 | -$3.90 | -$4.03 | -$2.44 | -$2.25 | -$3.79 | -$6.15 | -$6.45 |
Reported shareholders
| Holder | % owned |
|---|---|
Leonard Braden Michael | ≈9.98%13.95M shares |
RA CAPITAL MANAGEMENT, L.P. | 9.10%12.72M shares |
BML Capital Management, LLC | 8.56%11.98M shares |
BlackRock, Inc. | 7.18%10.04M shares |
Deep Track Capital, LP | 6.68%9.35M shares |
Vivo Capital, LLC | 4.79%6.69M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 4.16%5.82M shares |
Frazier Life Sciences Management, L.P. | 3.52%4.93M shares |
Rock Springs Capital Management LP | 3.10%4.33M shares |
ADAGE CAPITAL PARTNERS GP, L.L.C. | 2.91%4.07M shares |
Decheng Capital LLC | 2.89%4.04M shares |
Kalehua Capital Management LLC | 2.62%3.66M shares |
STATE STREET CORP | 2.33%3.26M shares |
GEODE CAPITAL MANAGEMENT, LLC | 2.28%3.19M shares |
BRAIDWELL LP | 1.53%2.14M shares |
Balyasny Asset Management L.P. | 1.45%2.02M shares |
SILVERARC CAPITAL MANAGEMENT, LLC | 1.39%1.95M shares |
CITADEL ADVISORS LLC | 1.26%1.76M shares |
Jones Hill Capital LP | 1.26%1.76M shares |
ACADIAN ASSET MANAGEMENT LLC | 1.17%1.64M shares |
Percentages use 139.82M shares of this listed class outstanding on Jun 30, 2026. ≈ compares the latest reported holding with a share total from a different date; it is not a confirmed current stake.
Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| Apr 23, 2026Form 4 | Leonard Braden MichaelTenPercentOwner | SellCommon Stock · indirect | 300.0K | $4.53 | $1.36M | 13.95M |
| Nov 19, 2024Form 4 | Mehra AnandDirector | BuyCommon Stock | 666.7K | $2.25 | $1.50M | 710.0K |
| Aug 5, 2024Form 4 | Leonard Braden MichaelTenPercentOwner | BuyCommon Stock · indirect | 206.0K | $1.24 | $255.5K | 14.25M |
| Aug 2, 2024Form 4 | Leonard Braden MichaelTenPercentOwner | BuyCommon Stock · indirect | 167.5K | $1.29 | $216.1K | 14.04M |
| Jul 31, 2024Form 4 | Leonard Braden MichaelTenPercentOwner | BuyCommon Stock · indirect | 100.0K | $1.33 | $133.0K | 13.88M |