Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $7.0M |
| Research & development | $133.7M | $112.5M | $49.9M | $28.4M |
| Operating expenses | $169.8M | $142.6M | $62.4M | $36.4M |
| Operating income | −$169.8M | −$142.6M | −$62.4M | −$29.4M |
| Operating margin | — | — | — | −418.28% |
| EBITDA | −$168.0M | −$140.5M | −$60.7M | −$27.8M |
| EBITDA margin | — | — | — | −395.40% |
| Net income | −$161.3M | −$127.5M | −$60.4M | −$28.9M |
| Net profit margin | — | — | — | −411.29% |
| Basic EPSper basic share | -$3.64 | -$3.33 | -$89.61 | -$1.12 |
| Diluted EPSper diluted share | -$3.64 | -$3.33 | -$89.61 | -$1.12 |
Reported shareholders
| Holder | % owned |
|---|---|
SEIDENBERG BETH C | ≈7.60%4.68M shares |
Westlake BioPartners Opportunity Fund I, L.P. / Westlake BioPartners Opportunity GP I, LLC / Westlake BioPartners GP I, LLC / Westlake BioPartners Fund I, L.P. | ≈7.56%4.66M shares |
Cohen Fred E | ≈7.38%4.55M shares |
GordonMD Global Investments LP | 6.89%4.24M shares |
GILEAD SCIENCES, INC. | 6.70%4.13M shares |
BlackRock, Inc. | 5.09%3.13M shares |
Bain Capital Life Sciences Investors, LLC | 4.69%2.89M shares |
AIGH Capital Management LLC | 4.54%2.8M shares |
DEERFIELD MANAGEMENT COMPANY, L.P. | 3.25%2M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.08%1.9M shares |
PRICE T ROWE ASSOCIATES INC /MD/ | 1.93%1.19M shares |
GEODE CAPITAL MANAGEMENT, LLC | 1.70%1.05M shares |
Insight Holdings Group, LLC | 1.61%989.05K shares |
MORGAN STANLEY | 1.60%982.31K shares |
STATE STREET CORP | 1.60%982.23K shares |
Propel Bio Management, LLC | 1.43%883.2K shares |
Woodline Partners LP | 1.37%845.33K shares |
MILLENNIUM MANAGEMENT LLC | 1.04%639.78K shares |
MBB PUBLIC MARKETS I LLC | 1.00%614.48K shares |
ADAGE CAPITAL PARTNERS GP, L.L.C. | 0.81%500K shares |
Percentages use 61.57M 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 |
|---|---|---|---|---|---|---|
| Dec 18, 2025Form 4 | SEIDENBERG BETH CDirector | BuyCommon Stock · indirect | 133.3K | $7.50 | $1000.0K | 869.3K |
| Dec 18, 2025Form 4 | Westlake BioPartners Opportunity Fund I, L.P. +3TenPercentOwner | BuyCommon Stock · indirect | 133.3K | $7.50 | $1000.0K | 869.3K |
| Dec 15, 2025Form 4 · 10b5-1 | Walker Karen MarieChief Technology Officer | SellCommon Stock | 24.0K | $12.20 | $292.8K | 22.6K |