Revenue
2010
2012
2013
2014
2015
2016
2017
2019
2020
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 | 2001 | 2000 | 1999 | 1998 | 1997 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | — | $257,000 | $0 | — | $0 | $400,000 | $0 | $0 | $0 | $0 | — | $488,959 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $488,959 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100.00% | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | $81.4M | $78.0M | $44.3M | $27.9M | $29.0M | $35.0M | $38.8M | $37.2M | $18.5M | $8.2M | $4.3M | $19.4M | $12.9M | $8.1M | $5.8M | $3.7M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating expenses | $123.5M | $103.2M | $60.0M | $38.8M | $41.5M | $49.6M | $79.0M | $70.0M | $30.0M | $11.3M | $6.0M | $29.3M | $21.5M | $15.6M | $13.4M | $9.0M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating income | −$123.5M | −$103.2M | −$60.0M | −$38.8M | −$41.5M | −$49.3M | −$79.0M | −$70.0M | −$30.0M | −$10.9M | −$5.9M | −$29.3M | −$21.5M | −$15.6M | −$13.4M | −$8.5M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | −19,182.88% | — | — | — | −2,737.00% | — | — | — | — | — | −1,746.51% | — | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | −$123.5M | −$103.1M | −$59.9M | −$38.8M | −$41.3M | −$49.0M | −$78.0M | −$69.5M | −$29.6M | −$10.8M | −$5.8M | −$29.2M | −$21.5M | −$15.5M | −$13.4M | −$8.5M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA margin | — | — | — | — | — | −19,083.66% | — | — | — | −2,712.25% | — | — | — | — | — | −1,742.45% | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | −$118.8M | −$95.9M | −$54.7M | −$38.1M | −$43.0M | −$49.6M | −$78.2M | −$61.5M | −$29.8M | −$10.9M | −$9.0M | −$28.7M | −$21.5M | −$15.6M | −$13.3M | −$8.5M | −$11.3M | −$26.6M | −$22.1M | −$29.3M | −$24.8M | −$6.7M | −$2.3M | −$2.1M | −$16.3M | −$3.7M | −$1.1M | −$1.2M | −$2.0M |
| Net profit margin | — | — | — | — | — | −19,305.45% | — | — | — | −2,730.75% | — | — | — | — | — | −1,728.35% | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Basic EPSper basic share | -$0.53 | -$0.48 | -$0.33 | -$0.25 | -$0.32 | -$0.84 | -$1.95 | -$1.85 | -$1.76 | -$5.62 | -$9.48 | -$16.10 | -$19.60 | -$23.10 | -$32.90 | -$74.90 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Diluted EPSper diluted share | -$0.53 | -$0.48 | -$0.33 | -$0.25 | -$0.32 | -$0.84 | -$1.95 | -$1.85 | -$1.76 | -$5.62 | -$9.48 | -$16.10 | -$19.60 | -$23.10 | -$32.90 | -$74.90 | — | — | — | — | — | — | — | — | — | — | — | — | — |
Reported shareholders
| Holder | % owned |
|---|---|
NEA Management Company, LLC | 11.91%24.47M shares |
Bain Capital Life Sciences Investors, LLC | 8.57%17.6M shares |
Venrock Adviser, LLC | 7.18%14.75M shares |
Nantahala Capital Management, LLC | 6.79%13.95M shares |
DEERFIELD MANAGEMENT COMPANY, L.P. | 6.61%13.57M shares |
BlackRock, Inc. | 6.08%12.49M shares |
TCG Crossover Management, LLC | 6.02%12.36M shares |
Frazier Life Sciences Management, L.P. | 4.73%9.72M shares |
Polar Capital Holdings Plc | 4.65%9.54M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.86%7.93M shares |
STATE STREET CORP | 3.19%6.55M shares |
MARSHALL WACE, LLP | 3.05%6.26M shares |
RTW INVESTMENTS, LP | 2.90%5.95M shares |
Woodline Partners LP | 2.07%4.25M shares |
ORBIMED ADVISORS LLC | 1.93%3.96M shares |
GEODE CAPITAL MANAGEMENT, LLC | 1.89%3.87M shares |
Spruce Street Capital LP | 1.68%3.45M shares |
Rosalind Advisors, Inc. | 1.55%3.18M shares |
EMERALD ADVISERS, LLC | 1.53%3.15M shares |
Pictet Asset Management Holding SA | 1.35%2.76M shares |
Percentages use 205.4M shares of this listed class outstanding on Jun 30, 2026.
Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| Jun 22, 2026Form 4 | Lowrance David LChief Financial Officer | SellCommon Stock | 394.5K | $5.68 | $2.24M | 536.0K |
| Dec 19, 2025Form 4 | RAMSAY DAVID ADirector | SellCommon Stock | 20.0K | $6.06 | $121.2K | 2.53M |
| Jun 20, 2025Form 4 | Hawkins Richard JDirector | BuyCommon Stock | 48.2K | $2.04 | $98.4K | 115.5K |
| May 29, 2025Form 4 | McCracken Joseph SDirector | BuyCommon Stock | 10.0K | $2.08 | $20.8K | 260.8K |
| Mar 31, 2025Form 4 | RAMSAY DAVID ADirector | BuyCommon Stock | 150.0K | $2.78 | $417.0K | 2.51M |