Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $9.0M | $0 | $0 | $0 |
| Research & development | $74.0M | $59.0M | $33.9M | $30.5M |
| Operating expenses | $101.8M | $78.2M | $48.4M | $40.0M |
| Operating income | −$92.8M | −$78.2M | −$48.4M | −$40.0M |
| Operating margin | −1,031.46% | — | — | — |
| EBITDA | −$92.6M | −$78.0M | −$48.2M | −$39.4M |
| EBITDA margin | −1,029.24% | — | — | — |
| Net income | −$80.6M | −$71.1M | −$63.9M | −$39.7M |
| Net profit margin | −896.11% | — | — | — |
| Basic EPSper basic share | -$2.24 | -$6.63 | -$38.17 | -$23.76 |
| Diluted EPSper diluted share | -$2.24 | -$6.63 | -$38.17 | -$23.76 |
Reported shareholders
| Holder | % owned |
|---|---|
a16z Capital Management, L.L.C. | 7.06%3.23M shares |
Pande Vijay Satyanand | ≈7.06%3.23M shares |
BlackRock, Inc. | 6.22%2.85M shares |
Cormorant Asset Management, LP | 5.22%2.39M shares |
HEALY JAMES | ≈5.04%2.3M shares |
Sofinnova Investments, Inc. | 5.01%2.29M shares |
Jupiter Topco LLC | 4.68%2.14M shares |
Octagon Capital Advisors LP | 3.82%1.75M shares |
ENRIGHT PATRICK G | ≈3.74%1.71M shares |
RA CAPITAL MANAGEMENT, L.P. | 3.65%1.67M shares |
MPM BIOIMPACT LLC | 3.64%1.67M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.37%1.54M shares |
Polar Capital Holdings Plc | 2.34%1.07M shares |
BRAIDWELL LP | 2.26%1.03M shares |
STATE STREET CORP | 2.23%1.02M shares |
GEODE CAPITAL MANAGEMENT, LLC | 2.19%1M shares |
Fortney Kristen | ≈2.13%976.95K shares |
Sands Capital Alternatives, LLC | 1.72%786.35K shares |
ORBIMED ADVISORS LLC | 1.64%752.15K shares |
D. E. Shaw & Co., Inc. | 1.62%742.76K shares |
Percentages use 45.78M 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 1, 2026Form 4 · 10b5-1 | RUBIN PAUL DChief Medical Officer | SellCommon Stock | 8.8K | $17.81 | $157.1K | 0 |
| Mar 2, 2026Form 4 · 10b5-1 | RUBIN PAUL DChief Medical Officer | SellCommon Stock | 7.4K | $20.30 | $150.9K | 0 |
| Feb 2, 2026Form 4 · 10b5-1 | RUBIN PAUL DChief Medical Officer | SellCommon Stock | 7.4K | $18.75 | $139.4K | 0 |
| Jan 13, 2026Form 4 · 10b5-1 | Fortney KristenChief Executive Officer | SellCommon Stock | 233.1K | $18.12 | $4.22M | 976.9K |
| Jan 13, 2026Form 4 · 10b5-1 | GOLDSTEIN DOV A MDChief Financial Officer | SellCommon Stock | 1.9K | $21.08 | $40.5K | 22.4K |