Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | — | — | — | — |
| Research & development | $69.9M | $58.5M | $55.9M | $52.0M | $36.5M | $23.9M | $20.8M | $13.9M |
| Operating expenses | $86.2M | $85.4M | $80.1M | $77.0M | $58.3M | $34.9M | $26.6M | $18.9M |
| Operating income | −$86.2M | −$85.4M | −$80.1M | −$77.0M | −$58.3M | −$34.9M | −$26.6M | −$18.9M |
| EBITDA | −$86.1M | −$84.3M | −$78.9M | −$76.7M | −$58.0M | −$34.6M | −$26.2M | −$18.6M |
| Net income | −$77.7M | −$58.7M | −$69.0M | −$73.3M | −$57.8M | −$34.4M | −$25.4M | −$17.5M |
| Basic EPSper basic share | -$1.48 | -$1.14 | -$1.44 | -$1.61 | -$1.28 | -$2.40 | -$8.35 | -$5.82 |
| Diluted EPSper diluted share | -$1.48 | -$1.14 | -$1.44 | -$1.61 | -$1.28 | -$2.40 | -$8.35 | -$5.82 |
Reported shareholders
| Holder | % owned |
|---|---|
BML Capital Management, LLC | 9.97%5.33M shares |
OrbiMed Capital GP V LLC / ORBIMED ADVISORS LLC | ≈9.31%4.98M shares |
TANG CAPITAL MANAGEMENT LLC | 7.94%4.25M shares |
Sio Capital Management, LLC | 4.93%2.63M shares |
Euclidean Capital LLC | 4.92%2.63M shares |
ADAGE CAPITAL PARTNERS GP, L.L.C. | 4.41%2.36M shares |
ACADIAN ASSET MANAGEMENT LLC | 4.14%2.22M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.76%2.01M shares |
ArrowMark Colorado Holdings LLC | 3.67%1.96M shares |
TWO SIGMA INVESTMENTS, LP | 3.66%1.95M shares |
Eversept Partners, LP | 3.54%1.89M shares |
BlackRock, Inc. | 1.72%919.82K shares |
Assenagon Asset Management S.A. | 1.23%660.01K shares |
Stonepine Capital Management, LLC | 1.00%536.09K shares |
GEODE CAPITAL MANAGEMENT, LLC | 0.89%473.16K shares |
Aldebaran Capital, LLC | 0.87%467.43K shares |
BRIDGEWAY CAPITAL MANAGEMENT, LLC | 0.80%428.85K shares |
BIT Capital GmbH | 0.76%407.56K shares |
Verdad Advisers, LP | 0.68%362.36K shares |
Walleye Capital LLC | 0.63%335.69K shares |
Percentages use 53.46M 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 |
|---|---|---|---|---|---|---|
| Oct 23, 2025Form 4 | OrbiMed Capital GP V LLC +1TenPercentOwner | SellCommon Stock · indirect | 1.00M | $1.52 | $1.52M | 4.98M |
| Sep 10, 2025Form 4 | ORBIMED ADVISORS LLC +1TenPercentOwner | SellCommon Stock · indirect | 500.0K | $1.80 | $900.0K | 5.98M |
| Jul 1, 2025Form 4 | Ticktin RobertGeneral Counsel & COO | SellCommon Stock | 23.2K | $1.06 | $24.5K | 98.7K |
| Jul 1, 2025Form 4 | Jalota DeepikaChief Development Officer | SellCommon Stock | 33.1K | $1.06 | $35.0K | 90.0K |
| Jul 1, 2025Form 4 | Carulli MichaelChief Financial Officer | SellCommon Stock | 28.2K | $1.06 | $29.9K | 60.1K |