Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | — | — | — | — | — | — |
| Research & development | $182.4M | $126.1M | $206.3M | $267.6M | $217.3M | $107.4M | $37.5M | $18.8M | $22.0M | $14.1M |
| Operating expenses | $234.4M | $186.8M | $277.3M | $341.4M | $267.1M | $136.0M | $49.2M | $26.4M | $25.5M | $17.2M |
| Operating income | −$234.4M | −$186.8M | −$277.3M | −$341.4M | −$267.1M | −$136.0M | −$49.2M | −$26.4M | −$25.5M | −$17.2M |
| EBITDA | −$216.1M | −$168.1M | −$259.0M | −$337.6M | −$266.0M | −$135.5M | −$48.7M | −$25.9M | −$25.0M | −$16.9M |
| Net income | −$230.0M | −$176.2M | −$260.5M | −$333.8M | −$267.0M | −$133.1M | −$47.4M | −$41.4M | −$27.9M | −$17.1M |
| Basic EPSper basic share | -$4.32 | -$3.35 | -$4.97 | -$6.39 | -$5.16 | -$2.91 | -$1.25 | -$2.77 | -$3.72 | -$2.38 |
| Diluted EPSper diluted share | -$4.32 | -$3.35 | -$4.97 | -$6.39 | -$5.16 | -$2.91 | -$1.25 | -$2.77 | -$3.72 | -$2.38 |
Reported shareholders
| Holder | % owned |
|---|---|
BAKER BROS. ADVISORS LP | 31.70%19.92M shares |
BlackRock, Inc. | 6.58%4.14M shares |
PRICE T ROWE ASSOCIATES INC /MD/ | 5.17%3.25M shares |
STATE STREET CORP | 3.85%2.42M shares |
PERLROTH VICTOR | ≈3.81%2.4M shares |
GOLDMAN SACHS GROUP INC | 3.69%2.32M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 2.87%1.8M shares |
BRAIDWELL LP | 2.84%1.79M shares |
Jupiter Topco LLC | 2.43%1.53M shares |
RTW INVESTMENTS, LP | 2.37%1.49M shares |
Boxer Capital Management, LLC | 2.35%1.48M shares |
T. Rowe Price Investment Management, Inc. | 2.35%1.48M shares |
TCG Crossover Management, LLC | 2.30%1.45M shares |
ICONIQ Capital, LLC | 2.02%1.27M shares |
GEODE CAPITAL MANAGEMENT, LLC | 1.69%1.06M shares |
Ikarian Capital, LLC | 1.69%1.06M shares |
Artisan Partners Limited Partnership | 1.54%968.04K shares |
WELLINGTON MANAGEMENT GROUP LLP | 1.26%793.61K shares |
Board of Trustees of The Leland Stanford Junior University | 1.10%691.77K shares |
SILVERARC CAPITAL MANAGEMENT, LLC | 0.87%546.26K shares |
Percentages use 62.83M 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 |
|---|---|---|---|---|---|---|
| Jun 4, 2026Form 4 · 10b5-1 | BORGESON JOHN A.Chief Financial Officer | SellCommon Stock | 4.1K | $34.67 | $142.3K | 211.9K |
| Jun 4, 2026Form 4 · 10b5-1 | BORGESON JOHN A.Chief Financial Officer | SellCommon Stock | 25.9K | $34.01 | $880.7K | 216.0K |
| Apr 2, 2026Form 4 · 10b5-1 | BORGESON JOHN A.Chief Financial Officer | SellCommon Stock | 600 | $41.77 | $25.1K | 183.3K |
| Apr 2, 2026Form 4 · 10b5-1 | BORGESON JOHN A.Chief Financial Officer | SellCommon Stock | 4.2K | $40.88 | $173.0K | 183.9K |
| Apr 2, 2026Form 4 · 10b5-1 | BORGESON JOHN A.Chief Financial Officer | SellCommon Stock | 12.5K | $40.29 | $502.7K | 188.1K |
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