Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $3.5M | $652,000 | $350,000 | $0 |
| Research & development | $38.2M | $38.8M | $40.6M | $34.8M |
| Operating expenses | $56.1M | $53.7M | $52.2M | $45.0M |
| Operating income | −$52.6M | −$53.1M | −$51.9M | −$45.0M |
| Operating margin | −1,502.43% | −8,142.33% | −14,822.57% | — |
| EBITDA | −$50.9M | −$51.4M | −$50.2M | −$44.1M |
| EBITDA margin | −1,455.57% | −7,882.21% | −14,343.14% | — |
| Net income | −$80.4M | −$51.8M | −$49.3M | −$44.2M |
| Net profit margin | −2,298.54% | −7,943.40% | −14,083.14% | — |
| Basic EPSper basic share | -$2.65 | -$11.04 | -$124.80 | -$3.64 |
| Diluted EPSper diluted share | -$2.65 | -$11.04 | -$124.80 | -$3.64 |
Reported shareholders
| Holder | % owned |
|---|---|
Jupiter Topco LLC | 12.15%6.31M shares |
Schwab Andrew J. | ≈11.30%5.87M shares |
5AM Ventures VII, L.P. / 5AM Opportunities II (GP), LLC / 5AM Opportunities II, L.P. / 5AM Partners VI, LLC / PARMAR KUSH / 5AM Partners VII, LLC / 5AM Ventures VI, L.P. | ≈11.30%5.87M shares |
5AM Venture Management, LLC | 11.30%5.87M shares |
FMR LLC | 9.44%4.9M shares |
Vivo Capital, LLC | 8.18%4.25M shares |
Polaris Management Co. VII, L.L.C. / Chee Brian / Polaris Partners X, L.P. / Polaris Partners GP X, L.L.C. / Polaris Entrepreneurs' Fund VII, L.P. / Polaris Partners VII, L.P. / SCHULMAN AMY W | ≈7.57%3.93M shares |
Nashat Amir | ≈7.57%3.93M shares |
Balyasny Asset Management L.P. | 4.96%2.58M shares |
Northpond Ventures II, LP / Northpond Ventures III, LP / Northpond Ventures GP, LLC / Northpond Ventures III GP, LLC / Northpond Ventures II GP, LLC / Northpond Ventures, LP / Rubin Michael P. | ≈4.31%2.24M shares |
AH Equity Partners Bio I, L.L.C. / AH Bio Fund I, L.P. / AH Bio Fund IV, L.P. / HOROWITZ BENJAMIN A / Andreessen Marc L / AH Equity Partners Bio IV, L.L.C. | ≈4.09%2.13M shares |
a16z Capital Management, L.L.C. | 4.09%2.13M shares |
ADAGE CAPITAL PARTNERS GP, L.L.C. | 3.78%1.96M shares |
Trails Edge Capital Partners, LP | 3.72%1.93M shares |
BlackRock, Inc. | 3.17%1.64M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 2.95%1.53M shares |
ENAVATE SCIENCES GP, LLC | 2.75%1.43M shares |
Stonepine Capital Management, LLC | 2.68%1.39M shares |
HarbourVest Partners LLC | 2.45%1.27M shares |
GEODE CAPITAL MANAGEMENT, LLC | 1.53%795.65K shares |
Percentages use 51.93M 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.
Reported positions exceed 100% in total, so the circle shows the selected holder only.
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| Sep 11, 2025Form 4 | 5AM Ventures VII, L.P. +6TenPercentOwner | BuyCommon Stock · indirect | 2.94M | $1.53 | $4.50M | 2.94M |
| Sep 11, 2025Form 4 | Gold KellyChief Financial Officer | BuyCommon Stock | 6.1K | $1.65 | $10.0K | 67.9K |
| Sep 11, 2025Form 4 | Mandel-Brehm JoshChief Executive Officer | BuyCommon Stock | 6.1K | $1.65 | $10.0K | 278.4K |
| Sep 11, 2025Form 4 | Maricich YuriChief Medical Officer | BuyCommon Stock | 6.1K | $1.65 | $10.0K | 6.1K |
| Sep 11, 2025Form 4 | Young Richard ADirector | BuyCommon Stock | 15.2K | $1.65 | $25.0K | 170.0K |
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