Revenue
2009
2010
2011
2012
2013
2019
2020
2021
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 | 2002 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.2M | $11.0M | $19.0M | $39.9M | $589,000 | $0 | $3.0M | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | −$100,000 | — | — | — | — | — | — | — |
| Research & development | $30.8M | $26.9M | $17.7M | $14.4M | $15.2M | $6.6M | $2.4M | $13.1M | $10.7M | $10.1M | $12.1M | $7.0M | $3.3M | $3.4M | $12.0M | $3.9M | $3.2M | — | — | — | — | — | — | — |
| Operating expenses | $52.8M | $73.1M | $29.6M | $21.6M | $23.3M | $20.0M | $4.2M | $20.5M | $17.4M | $16.4M | $18.3M | $13.3M | $8.0M | $6.6M | $16.1M | $10.3M | $6.5M | — | — | — | — | — | — | — |
| Operating income | −$38.6M | −$62.1M | −$10.6M | $18.2M | −$22.7M | −$20.0M | −$4.2M | −$20.5M | −$17.4M | −$16.4M | −$18.3M | −$13.3M | −$8.0M | −$6.6M | −$16.1M | −$10.3M | −$6.5M | — | — | — | — | — | — | — |
| Operating margin | −271.90% | −564.72% | −55.45% | 45.74% | −3,854.84% | — | −139.77% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | −$38.5M | −$62.1M | −$10.6M | $18.2M | −$22.7M | −$20.0M | −$4.2M | −$20.5M | −$17.3M | −$16.4M | −$18.2M | −$13.2M | −$7.9M | −$6.5M | −$16.1M | −$10.3M | −$6.4M | — | — | — | — | — | — | — |
| EBITDA margin | −271.53% | −564.63% | −55.42% | 45.75% | −3,854.16% | — | −138.40% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | −$49.6M | −$57.5M | −$10.0M | $17.9M | −$56.7M | −$24.6M | −$6.2M | −$14.4M | −$25.3M | −$9.3M | −$14.4M | −$18.5M | −$9.5M | −$6.2M | −$11.3M | −$14.0M | −$2.9M | −$3.7M | −$4.4M | −$6.5M | −$6.3M | −$3.3M | −$2.8M | −$1.2M |
| Net profit margin | −349.33% | −523.40% | −52.42% | 44.89% | −9,625.30% | — | −205.63% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Basic EPSper basic share | -$0.80 | -$2.15 | -$0.46 | $0.90 | -$3.82 | -$5.28 | -$2.17 | -$4.97 | -$10.49 | -$4.90 | -$9.01 | -$12.54 | -$7.98 | -$6.84 | -$13.68 | -$20.53 | -$5.70 | — | — | — | — | — | — | — |
| Diluted EPSper diluted share | -$0.80 | -$2.15 | -$0.46 | $0.87 | -$3.82 | -$5.28 | -$2.17 | -$4.97 | -$10.49 | -$4.90 | -$9.01 | -$12.54 | -$7.98 | -$6.84 | -$13.68 | -$20.53 | -$5.70 | — | — | — | — | — | — | — |
Reported shareholders
| Holder | % owned |
|---|---|
Nantahala Capital Management, LLC | 7.41%6.12M shares |
Caligan Partners LP | 7.35%6.08M shares |
ADAGE CAPITAL PARTNERS GP, L.L.C. | 7.30%6.03M shares |
Foundation Fighting Blindness Retinal Degeneration Fund / Foundation Fighting Blindness, Inc. | ≈4.59%3.79M shares |
BIOS Capital Management, LP | 4.46%3.68M shares |
BlackRock, Inc. | 3.77%3.12M shares |
Balyasny Asset Management L.P. | 3.74%3.09M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.58%2.96M shares |
Boxer Capital Management, LLC | 3.41%2.82M shares |
Trails Edge Capital Partners, LP | 3.32%2.74M shares |
MILLENNIUM MANAGEMENT LLC | 2.79%2.3M shares |
Gallagher Cam | ≈2.54%2.1M shares |
GREAT POINT PARTNERS LLC | 2.38%1.97M shares |
MARSHALL WACE, LLP | 2.35%1.95M shares |
ADAR1 Capital Management, LLC | 2.16%1.78M shares |
Magrath George | ≈2.11%1.74M shares |
GOLDMAN SACHS GROUP INC | 1.85%1.53M shares |
Woodline Partners LP | 1.74%1.43M shares |
GEODE CAPITAL MANAGEMENT, LLC | 1.65%1.37M shares |
BOOTHBAY FUND MANAGEMENT, LLC | 1.44%1.19M shares |
Percentages use 82.65M 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 18, 2026Form 4 | Foundation Fighting Blindness Retinal Degeneration Fund +1Director,Other | SellCommon Stock | 1.70M | $4.35 | $7.39M | 3.79M |
| Apr 23, 2026Form 4 | YERXA BENJAMIN RPresident | SellCommon Stock | 7.5K | $5.24 | $39.1K | 711.5K |
| Apr 23, 2026Form 4 | SCHACHLE JOSEPH KChief Operating Officer | SellCommon Stock | 4.7K | $5.22 | $24.5K | 296.1K |
| Apr 23, 2026Form 4 | Zaremba Rabourn AmyHead of Fin. Quality Assurance | SellCommon Stock | 1.6K | $5.20 | $8.5K | 188.7K |
| Apr 23, 2026Form 4 | Magrath GeorgeChief Executive Officer | SellCommon Stock | 9.5K | $5.22 | $49.6K | 1.74M |