Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $16.8M | $0 | $0 | $0 |
| Gross profit | $12.8M | $0 | — | — |
| Gross margin | 76.25% | — | — | — |
| Research & development | $1.2M | $1.2M | $2.6M | $391,730 |
| Operating expenses | $49.2M | $7.6M | $6.9M | $2.3M |
| Operating income | −$32.4M | −$7.6M | −$6.9M | −$2.3M |
| Operating margin | −193.09% | — | — | — |
| EBITDA | −$30.1M | −$7.6M | −$6.9M | −$2.3M |
| EBITDA margin | −179.49% | — | — | — |
| Net income | −$43.3M | −$8.0M | −$7.4M | −$2.5M |
| Net profit margin | −257.93% | — | — | — |
| Basic EPSper basic share | -$23.04 | -$14.27 | -$57.80 | $56.50 |
| Diluted EPSper diluted share | -$23.04 | -$14.27 | -$57.80 | -$2.65 |
Reported shareholders
| Holder | % owned |
|---|---|
Davis Todd C | ≈42.38%1.58M shares |
LIGAND PHARMACEUTICALS INC | —1.5M shares |
AIGH Capital Management LLC | 8.85%329.1K shares |
Murchinson Ltd. | 8.18%304.3K shares |
Ikarian Capital, LLC | 6.90%256.6K shares |
Friedberg Ezra M | ≈5.48%203.67K shares |
BOOTHBAY FUND MANAGEMENT, LLC | 2.74%101.98K shares |
VANGUARD CAPITAL MANAGEMENT LLC | 2.61%97.13K shares |
Plesha Scott M. | ≈2.25%83.68K shares |
CANTOR FITZGERALD, L. P. | 2.05%76.25K shares |
Francis Knuettel II | ≈1.10%40.84K shares |
J. Goldman & Co LP | 1.02%38.08K shares |
GAY JOHN M. | ≈0.82%30.52K shares |
Rangarao Sai | ≈0.82%30.52K shares |
Malamut Richard | ≈0.77%28.46K shares |
DIADEMA PARTNERS LP | 0.67%24.77K shares |
Greenleaf Peter | ≈0.66%24.68K shares |
WEXFORD CAPITAL LP | 0.60%22.36K shares |
Knott David M Jr | 0.59%22.07K shares |
Baxter Richard B | ≈0.51%19.11K shares |
Percentages use 3.72M 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 15, 2026Form 4 · 10b5-1 | Friedberg Ezra MDirector | SellCommon Stock | 59 | $27.94 | $1.6K | 81.6K |
| Jun 15, 2026Form 4 · 10b5-1 | Friedberg Ezra MDirector | SellCommon Stock | 224 | $27.12 | $6.1K | 81.7K |
| Jun 11, 2026Form 4 | Davis Todd CDirector | BuyCommon Stock | 503 | $28.73 | $14.5K | 75.8K |
| Jun 11, 2026Form 4 | Davis Todd CDirector | BuyCommon Stock | 35.4K | $27.80 | $985.4K | 75.3K |
| May 22, 2026Form 4 | Francis Knuettel IICFO, Treas & Secty | SellCommon Stock · indirect | 1.5K | $26.84 | $40.3K | 11.3K |