Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $25.4M | $210.8M | $129.0M | $0 | — | — |
| Research & development | $142.3M | $125.3M | $99.9M | $66.6M | $35.9M | $21.1M |
| Operating expenses | $183.3M | $163.8M | $132.2M | $97.2M | $51.1M | $26.7M |
| Operating income | −$157.9M | $47.0M | −$3.2M | −$97.2M | −$51.1M | −$26.7M |
| Operating margin | −621.13% | 22.30% | −2.45% | — | — | — |
| EBITDA | −$153.8M | $50.8M | −$321,000 | −$95.4M | −$50.0M | −$26.3M |
| EBITDA margin | −605.02% | 24.09% | −0.25% | — | — | — |
| Net income | −$143.8M | $65.6M | −$6.7M | −$94.6M | −$51.2M | −$26.5M |
| Net profit margin | −565.48% | 31.13% | −5.18% | — | — | — |
| Basic EPSper basic share | -$3.47 | $1.76 | -$0.20 | -$3.02 | -$8.16 | -$24.00 |
| Diluted EPSper diluted share | -$3.47 | $1.68 | -$0.20 | -$3.02 | -$8.16 | -$24.00 |
Reported shareholders
| Holder | % owned |
|---|---|
BAKER BROS. ADVISORS LP | 13.03%5.07M shares |
MPM ASSET MANAGEMENT INVESTORS BV2018 LLC / EVNIN LUKE / GADICKE ANSBERT / MPM BioVentures 2014 LLC / MPM BIOVENTURES 2018 (B), L.P. / Foley Todd / MPM Asset Management Investors BV2014 LLC / MPM BioVentures 2014 (B), L.P. / MPM BioVentures 2014 GP LLC / MPM BioVentures 2014, L.P. | ≈11.25%4.38M shares |
MPM BioVentures 2018 GP LLC / MPM BIOVENTURES 2018, L.P. / MPM BioVentures 2018 LLC | ≈11.25%4.38M shares |
5AM Ventures V, L.P. / Schwab Andrew J. / 5AM Opportunities I (GP), LLC / ROCKLAGE SCOTT M / 5AM Partners V, LLC / 5AM Opportunities I, L.P. | ≈10.42%4.06M shares |
PARMAR KUSH | ≈10.42%4.06M shares |
5AM Venture Management, LLC | 10.42%4.06M shares |
BlackRock, Inc. | 6.63%2.58M shares |
Merck & Co., Inc. | 4.47%1.74M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.26%1.27M shares |
MPM BIOIMPACT LLC | 3.22%1.25M shares |
TCG Crossover Management, LLC | 2.72%1.06M shares |
WELLINGTON MANAGEMENT GROUP LLP | 2.45%954.42K shares |
MILLENNIUM MANAGEMENT LLC | 1.96%763.96K shares |
StepStone Group LP | 1.96%761.28K shares |
GEODE CAPITAL MANAGEMENT, LLC | 1.84%717.43K shares |
AQR CAPITAL MANAGEMENT LLC | 1.80%699.54K shares |
Nantahala Capital Management, LLC | 1.54%601.15K shares |
STATE STREET CORP | 1.53%596.68K shares |
PRICE T ROWE ASSOCIATES INC /MD/ | 1.39%542.32K shares |
Doshi Dipal | ≈1.35%526.01K shares |
Percentages use 38.94M 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.
Reported positions exceed 100% in total, so the circle shows the selected holder only.
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| May 20, 2026Form 4 | Zeiher Bernhardt GDirector | BuyCommon Stock · indirect | 5.0K | $5.86 | $29.3K | 5.0K |
| May 4, 2026Form 4 · 10b5-1 | Sethuraman NatarajanPresident, Research & Develop. | SellCommon Stock | 25.9K | $15.39 | $398.7K | 216.3K |
| May 4, 2026Form 4 · 10b5-1 | Dowden Nathan JPresident & COO | SellCommon Stock | 15.0K | $15.33 | $229.9K | 198.6K |
| Apr 1, 2026Form 4 · 10b5-1 | WENTWORTH KORY JAMESChief Financial Officer | SellCommon Stock | 2.5K | $12.95 | $32.4K | 119.0K |
| Mar 10, 2026Form 4 · 10b5-1 | Dowden Nathan JPresident & COO | SellCommon Stock | 11.9K | $13.05 | $155.2K | 198.6K |