Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 · Dec 31 | 2020 · Mar 31 | 2019 · Dec 31 | 2019 · Mar 31 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $850,000 | $0 | $0 | — | — | — | — | — |
| Research & development | $56.0M | $42.3M | $38.1M | $30.0M | $20.3M | $14.9M | — | $22.4M | — |
| Operating expenses | $72.8M | $57.5M | $50.4M | $41.7M | $81.9M | $27.8M | — | $34.1M | — |
| Operating income | −$72.8M | −$56.6M | −$50.4M | −$41.7M | −$81.9M | −$27.8M | −$32,105 | −$34.1M | −$32,759 |
| Operating margin | — | −6,661.76% | — | — | — | — | — | — | — |
| EBITDA | −$72.6M | −$56.0M | −$49.7M | −$40.9M | −$81.3M | −$25.4M | — | −$32.0M | — |
| EBITDA margin | — | −6,592.47% | — | — | — | — | — | — | — |
| Net income | −$66.5M | −$49.4M | −$42.5M | −$39.2M | −$82.2M | −$29.5M | −$37,483 | −$34.7M | −$36,037 |
| Net profit margin | — | −5,808.82% | — | — | — | — | — | — | — |
| Basic EPSper basic share | -$0.42 | -$0.36 | -$0.33 | -$0.37 | -$1.31 | -$0.96 | -$0.01 | -$5.19 | -$0.01 |
| Diluted EPSper diluted share | -$0.42 | -$0.36 | -$0.33 | -$0.37 | -$1.31 | -$0.96 | -$0.01 | -$5.19 | -$0.01 |
Reported shareholders
| Holder | % owned |
|---|---|
TANG CAPITAL MANAGEMENT LLC | 9.99%17.99M shares |
ORBIMED ADVISORS LLC | 8.45%15.22M shares |
GORDON CARL L | ≈8.45%15.22M shares |
MONTANOVA CAPITAL, LLC | 7.83%14.1M shares |
BlackRock, Inc. | 6.26%11.28M shares |
STATE STREET CORP | 5.53%9.95M shares |
ENAVATE SCIENCES GP, LLC | 4.32%7.79M shares |
Vivo Capital, LLC | 4.31%7.76M shares |
Schuetz Thomas J. | ≈3.67%6.6M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.40%6.12M shares |
Palo Alto Investors LP | 3.24%5.83M shares |
MILLENNIUM MANAGEMENT LLC | 2.62%4.71M shares |
GEODE CAPITAL MANAGEMENT, LLC | 2.12%3.82M shares |
VANGUARD PORTFOLIO MANAGEMENT LLC | 2.09%3.77M shares |
Qube Research & Technologies Ltd | 2.05%3.69M shares |
Blue Owl Capital Holdings LP | 2.01%3.62M shares |
CITADEL ADVISORS LLC | 1.98%3.57M shares |
GOLDMAN SACHS GROUP INC | 1.96%3.53M shares |
Rock Springs Capital Management LP | 1.96%3.52M shares |
AQR CAPITAL MANAGEMENT LLC | 1.95%3.51M shares |
Percentages use 180.09M 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 29, 2026Form 4/A | Lerner NeilChief Accounting Officer | BuyCommon Stock | 15.0K | $1.89 | $28.4K | 397.5K |
| Apr 29, 2026Form 4/A | Anderman JonathanGeneral Counsel | BuyCommon Stock | 25.0K | $1.89 | $47.3K | 196.0K |
| May 27, 2025Form 4 | Schuetz Thomas J.CHIEF EXECUTIVE OFFICER | BuyCommon Stock | 10.0K | $2.11 | $21.1K | 6.48M |
| Apr 9, 2025Form 4 | GORDON CARL LDirector,TenPercentOwner | SellCommon Stock · indirect | 3.57M | $1.59 | $5.68M | 0 |
| Apr 9, 2025Form 4 | OrbiMed Capital GP VI LLC +2Director,TenPercentOwner | SellCommon Stock · indirect | 3.57M | $1.59 | $5.68M | 0 |