Revenue
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $886,000 | $2.3M | $18.7M | $0 | $0 | $3.9M | $5.2M | $4.6M | — | — |
| Research & development | $171.7M | $162.8M | $89.5M | $58.6M | $57.1M | $59.6M | $64.6M | $36.7M | $22.8M | $18.1M | $11.5M | $6.8M |
| Operating expenses | $209.6M | $208.6M | $243.2M | $87.1M | $84.4M | $81.5M | $80.3M | $49.4M | $32.9M | $26.5M | $17.4M | $8.9M |
| Operating income | −$209.6M | −$208.6M | −$242.3M | −$84.8M | −$65.6M | −$81.5M | −$80.3M | −$45.5M | −$27.7M | −$21.9M | −$11.3M | −$8.9M |
| Operating margin | — | — | −27,347.97% | −3,640.23% | −350.33% | — | — | −1,169.32% | −531.72% | −473.34% | — | — |
| EBITDA | −$209.6M | −$208.6M | −$241.6M | −$83.2M | −$64.1M | −$80.5M | −$79.9M | −$45.2M | −$27.4M | −$21.8M | −$11.2M | −$8.9M |
| EBITDA margin | — | — | −27,264.00% | −3,572.95% | −341.92% | — | — | −1,161.78% | −526.94% | −470.48% | — | — |
| Net income | −$155.2M | −$208.0M | −$338.8M | −$83.8M | −$65.8M | −$80.9M | −$78.3M | −$44.3M | −$27.2M | −$21.7M | −$11.3M | −$10.3M |
| Net profit margin | — | — | −38,238.15% | −3,598.75% | −351.14% | — | — | −1,140.64% | −523.27% | −468.84% | — | — |
| Basic EPSper basic share | -$1.98 | -$3.18 | $13.76 | -$24.86 | -$25.02 | -$38.00 | -$61.25 | -$53.25 | -$45.00 | -$55.50 | -$480.25 | — |
| Diluted EPSper diluted share | -$1.98 | -$3.18 | $13.76 | -$24.86 | -$25.02 | -$38.00 | -$61.25 | -$53.25 | -$45.00 | -$55.50 | -$480.25 | — |
Reported shareholders
| Holder | % owned |
|---|---|
FMR LLC | 14.79%13.03M shares |
BlackRock, Inc. | 7.39%6.51M shares |
PERCEPTIVE ADVISORS LLC | 4.90%4.32M shares |
RTW INVESTMENTS, LP | 4.83%4.25M shares |
Paradigm Biocapital Advisors LP | 4.36%3.84M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.92%3.45M shares |
STATE STREET CORP | 3.47%3.06M shares |
Venrock Adviser, LLC | 3.39%2.99M shares |
PRICE T ROWE ASSOCIATES INC /MD/ | 3.36%2.96M shares |
Driehaus Capital Management LLC | 3.18%2.8M shares |
GEODE CAPITAL MANAGEMENT, LLC | 2.91%2.56M shares |
VANGUARD PORTFOLIO MANAGEMENT LLC | 2.65%2.33M shares |
Capital World Investors | 2.63%2.32M shares |
Jupiter Topco LLC | 2.51%2.21M shares |
TCG Crossover Management, LLC | 2.16%1.9M shares |
TANG CAPITAL MANAGEMENT LLC | 2.15%1.89M shares |
BANK OF AMERICA CORP /DE/ | 2.02%1.78M shares |
ADAGE CAPITAL PARTNERS GP, L.L.C. | 1.96%1.72M shares |
WELLINGTON MANAGEMENT GROUP LLP | 1.80%1.58M shares |
GOLDMAN SACHS GROUP INC | 1.68%1.48M shares |
Percentages use 88.06M 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 25, 2026Form 4 | Burrows Scott LChief Financial Officer | SellCommon Stock | 10.0K | $87.14 | $871.4K | 98.0K |
| Jun 25, 2026Form 4 | Burrows Scott LChief Financial Officer | SellCommon Stock | 5.0K | $87.12 | $435.6K | 108.0K |
| Jun 23, 2026Form 4 | Fairmount Funds Management LLC +3Director | SellCommon Stock · indirect | 4.68M | $85.31 | $399.66M | 0 |
| Jun 22, 2026Form 4 · 10b5-1 | HENDERSON MICHAEL THOMASDirector | SellCommon Stock | 20.0K | $100.00 | $2.00M | 68.6K |
| Jun 3, 2026Form 4 · 10b5-1 | Sloan SheldonChief Medical Officer | SellCommon Stock | 8.3K | $75.00 | $625.0K | 0 |