Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | $11.5M | $26.1M | $27.3M | $18.3M | $17.6M | $10.1M | $9.0M | $6.8M | $9.5M | $4.8M | $5.2M | $6.0M | $6.9M | $5.1M | $3.6M | $3.0M | — | — | — | — | — | — | — |
| Operating expenses | $23.0M | $51.8M | $39.0M | $28.8M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating income | −$23.0M | −$51.8M | −$39.0M | −$28.8M | −$24.1M | −$15.3M | −$14.2M | −$13.3M | −$13.6M | −$9.4M | −$8.8M | −$9.9M | −$12.4M | −$8.8M | −$7.0M | −$4.2M | — | — | — | — | — | — | — |
| EBITDA | −$22.8M | −$51.5M | −$38.8M | −$28.7M | −$24.0M | −$15.1M | −$14.0M | −$13.2M | −$12.1M | −$9.1M | −$8.4M | −$9.5M | −$12.0M | −$8.3M | −$6.5M | −$3.6M | — | — | — | — | — | — | — |
| Net income | −$21.8M | −$44.6M | −$42.8M | −$31.8M | −$24.1M | −$15.1M | −$14.1M | −$13.2M | −$13.6M | −$6.2M | −$5.5M | −$8.1M | −$10.8M | −$8.8M | −$7.4M | −$4.6M | −$6.2M | −$6.1M | −$5.1M | −$963,440 | −$481,837 | −$342,761 | −$295,790 |
| Basic EPSper basic share | -$8.35 | -$36.52 | -$2,921,779.78 | -$3,764,921.95 | -$3,631,354.87 | -$6,344,436.10 | -$15,360,213.71 | -$43,659,737.87 | -$89,322,981.88 | -$178,645,963.77 | -$586,860,338.93 | -$1,463,394,273.31 | -$3,222,305,701.64 | -$3,840,053,426.83 | -$5,175,724,183.99 | -$6,010,518,407.21 | — | — | — | — | — | — | — |
| Diluted EPSper diluted share | -$8.35 | -$41.89 | -$2,921,779.78 | -$3,764,921.95 | -$3,631,354.87 | -$15,360,213.71 | -$15,360,213.71 | -$43,659,737.87 | -$89,322,981.88 | -$178,645,963.77 | -$586,860,338.93 | -$1,463,394,273.31 | -$3,222,305,701.64 | -$3,840,053,426.83 | -$5,175,724,183.99 | -$6,010,518,407.21 | — | — | — | — | — | — | — |
Reported shareholders
| Holder | % owned |
|---|---|
Caligan Partners LP | 5.70%470K shares |
Nantahala Capital Management, LLC | 5.33%440K shares |
STEMPOINT CAPITAL LP | 4.30%354.94K shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.97%327.37K shares |
SILVERARC CAPITAL MANAGEMENT, LLC | 3.90%321.73K shares |
Bleichroeder LP | 3.50%288.68K shares |
Jupiter Topco LLC | 3.32%274.16K shares |
Balyasny Asset Management L.P. | 2.67%220K shares |
Empery Asset Management, LP | 2.30%189.61K shares |
DIADEMA PARTNERS LP | 1.68%138.34K shares |
Stonepine Capital Management, LLC | 1.27%104.55K shares |
Persistent Asset Partners Ltd | 1.13%92.98K shares |
BOOTHBAY FUND MANAGEMENT, LLC | 1.03%85.07K shares |
GEODE CAPITAL MANAGEMENT, LLC | 0.65%53.35K shares |
VANGUARD FIDUCIARY TRUST CO | 0.56%46.22K shares |
Sequoia Financial Advisors, LLC | 0.26%21.85K shares |
Longcor Jarrod | ≈0.25%20.45K shares |
CARUSO JAMES V | ≈0.25%20.32K shares |
ACADIAN ASSET MANAGEMENT LLC | 0.20%16.58K shares |
NORTHERN TRUST CORP | 0.18%14.84K shares |
Percentages use 8.25M 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 |
|---|---|---|---|---|---|---|
| May 7, 2026Form 4 | Longcor JarrodChief Operating Officer | BuyCommon Stock | 8.7K | $2.88 | $25.0K | 20.5K |
| May 7, 2026Form 4 | Longcor JarrodChief Operating Officer | BuyWarrants · derivative | 26.0K | $0.01 | $260.40 | 36.1K |
| May 7, 2026Form 4 | CARUSO JAMES VChief Executive Officer | BuyCommon Stock | 8.7K | $2.88 | $25.0K | 20.3K |
| May 7, 2026Form 4 | CARUSO JAMES VChief Executive Officer | BuyWarrants · derivative | 26.0K | $0.01 | $260.40 | 36.1K |
| Dec 12, 2025Form 4 | NEIS JOHNDirector | SellCommon Stock · indirect | 198 | $3.70 | $732.60 | 10 |