CompanyGraph
At a glance
- Depends onUpstream position: supplies 6 industries, depends on 3
- ScaleLevered free cash flow is -$346.76M, lower than 95% of all stocks globally
- PositionGross margin is 99%, higher than 95% of its Biotechnology peers (median 75.8%)
- Interpretations1 currently firing — 1
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Sign inThe reported statements, read against the company's own industry.
Financials view
Market Capitalization
7.40BUSDvs all stocks (USD)
Revenue (TTM)
874.09MUSDvs all stocks (USD)
Profit Margin
-64.66%vs Biotechnology peers
Beta
0.4190xvs all stocks
52-Week Change
-30.63%vs all stocks
Market Capitalization
7.40BUSDvs all stocks (USD)
Enterprise Value
7.48BUSDvs all stocks (USD)
Forward P/E
-40.01xvs Biotechnology peers
Price to Sales (TTM)
8.46xvs Biotechnology peers
Price to Book (MRQ)
16.76xvs Biotechnology peers
Enterprise to Revenue
8.56xvs Biotechnology peers
Enterprise to EBITDA
-12.91xvs Biotechnology peers
Gross Margin
98.98%vs Biotechnology peers
Profit Margin
-64.66%vs Biotechnology peers
Operating Margin
-38.18%vs Biotechnology peers
Return on Assets (TTM)
-12.43%vs Biotechnology peers
Return on Equity (TTM)
-105.50%vs Biotechnology peers
Revenue (TTM)
874.09MUSDvs all stocks (USD)
Revenue per Share (TTM)
5.36USDUpdated Sep 27, 2026Quarterly Revenue Growth
-40.70%vs Biotechnology peers
Gross Profit (TTM)
-60.60MUSDvs all stocks (USD)
EBITDA (TTM)
-579.48MUSDvs all stocks (USD)
Net Income (TTM)
-565.17MUSDvs all stocks (USD)
Operating Cash Flow (TTM)
-496.43MUSDvs all stocks (USD)
Levered Free Cash Flow (TTM)
-346.76MUSDvs all stocks (USD)
Trailing Annual Dividend Rate
0.00USDUpdated Sep 27, 2026Trailing Annual Dividend Yield
0.00%vs all stocks
Payout Ratio
0.00%vs Biotechnology peers
Revenue
943.71MUSDFY2025 · Dec 31, 2025Cost of Goods Sold
15.91MUSDFY2025 · Dec 31, 2025Gross Profit
927.80MUSDFY2025 · Dec 31, 2025Operating Income
-381.72MUSDvs all stocks (USD)
Pre-tax Income
-379.60MUSDFY2025 · Dec 31, 2025Income Tax Expense
1.79MUSDFY2025 · Dec 31, 2025Net Income
-381.39MUSDFY2025 · Dec 31, 2025EBIT
-295.82MUSDFY2025 · Dec 31, 2025EBITDA (Income Statement)
-381.11MUSDFY2025 · Dec 31, 2025Research & Development
915.62MUSDFY2025 · Dec 31, 2025Selling, General & Administrative
393.90MUSDFY2025 · Dec 31, 2025Non-operating Interest Expense
83.78MUSDFY2025 · Dec 31, 2025EPS (Basic)
-2.38USDFY2025 · Dec 31, 2025EPS (Diluted)
-2.38USDFY2025 · Dec 31, 2025Basic Shares Outstanding
160.01MSharesFY2025 · Dec 31, 2025Diluted Shares Outstanding
160.01MSharesFY2025 · Dec 31, 2025Net Income from Continuing Operations
-381.39MUSDFY2025 · Dec 31, 2025Operating Cash Flow
-300.86MUSDFY2025 · Dec 31, 2025Free Cash Flow
-352.31MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
372.26MUSDFY2025 · Dec 31, 2025Interest Paid
10.78MUSDFY2025 · Dec 31, 2025Starting Profit (CF Statement)
-381.39MUSDFY2025 · Dec 31, 2025Depreciation & Amortization
22.69MUSDFY2025 · Dec 31, 2025Stock-based Compensation
133.87MUSDFY2025 · Dec 31, 2025Other Non-cash Items
27.13MUSDFY2025 · Dec 31, 2025Change in Accounts Receivable (CF)
26.13MUSDFY2025 · Dec 31, 2025Change in Accounts Payable (CF)
-15.36MUSDFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
-113.94MUSDFY2025 · Dec 31, 2025Capital Expenditures
-51.44MUSDFY2025 · Dec 31, 2025Net Intangibles (CF)
-5.64MUSDFY2025 · Dec 31, 2025Purchase of Investments
-1.92BUSDFY2025 · Dec 31, 2025Sale of Investments
1.70BUSDFY2025 · Dec 31, 2025Net Investing Cash Flow
-272.14MUSDFY2025 · Dec 31, 2025Long-term Debt Issuance
770.00MUSDFY2025 · Dec 31, 2025Long-term Debt Payments
-267.81MUSDFY2025 · Dec 31, 2025Net Short-term Debt Issuance
0.00USDFY2025 · Dec 31, 2025Other Financing Charges
-18.95MUSDFY2025 · Dec 31, 2025Net Financing Cash Flow
675.84MUSDFY2025 · Dec 31, 2025Shares Outstanding
165.90MSharesUpdated Sep 27, 2026Float Shares
164.82MSharesUpdated Sep 27, 2026Shares Short
20.89MSharesUpdated Sep 27, 2026Short Ratio
6.60daysvs all stocks
Short % of Shares Outstanding
16.65%vs all stocks
% Held by Insiders
0.61%vs all stocks
% Held by Institutions
110.53%vs all stocks
Total Cash (MRQ)
2.10BUSDvs all stocks (USD)
Total Cash per Share (MRQ)
12.65USDUpdated Sep 27, 2026Total Debt (MRQ)
2.19BUSDvs all stocks (USD)
Total Debt to Equity (MRQ)
4.98xvs Biotechnology peers
Current Ratio (MRQ)
7.89xvs Biotechnology peers
Book Value per Share (MRQ)
2.65USDUpdated Sep 27, 2026Total Assets
3.52BUSDvs all stocks (USD)
Total Current Assets
2.99BUSDFY2025 · Dec 31, 2025Total Liabilities
3.03BUSDFY2025 · Dec 31, 2025Total Non-current Assets
533.20MUSDFY2025 · Dec 31, 2025Total Non-current Liabilities
2.25BUSDFY2025 · Dec 31, 2025Total Current Liabilities
781.57MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents
372.26MUSDFY2025 · Dec 31, 2025Other Short-term Investments
2.31BUSDFY2025 · Dec 31, 2025Inventory
10.05MUSDFY2025 · Dec 31, 2025Accounts Payable
28.08MUSDFY2025 · Dec 31, 2025Short-term Debt
454.69MUSDFY2025 · Dec 31, 2025Deferred Revenue
73.76MUSDFY2025 · Dec 31, 2025Long-term Debt
1.61BUSDFY2025 · Dec 31, 2025Other Non-current Liabilities
551.35MUSDFY2025 · Dec 31, 2025Common Stock (Book)
163.00KUSDFY2025 · Dec 31, 2025Retained Earnings
-2.63BUSDFY2025 · Dec 31, 2025Total Shareholders' Equity
489.09MUSDvs all stocks (USD)
52-Week Low
43.01USDUpdated Sep 27, 202652-Week High
86.74USDUpdated Sep 27, 202652-Week Change
-30.63%vs all stocks
Beta
0.4190xvs all stocks
50-Day MA
54.85USDUpdated Sep 27, 2026200-Day MA
71.26USDUpdated Sep 27, 2026Avg 10-Day Volume
5.71MSharesUpdated Sep 27, 2026Avg 30-Day Volume
3.74MSharesUpdated Sep 27, 2026Diluted EPS (TTM)
-3.48USDUpdated Sep 27, 2026Other Income / Expense
92.13MUSDFY2025 · Dec 31, 20251 interpretation currently present — each is a set of fired observations whose alignment reads as one structural pattern. Click an observation to see the numbers behind it.
Screen for these patternsWhere is this company structurally exposed?
Ulcer Index Elevated, Drawdown From Peak Significant, 20-Week Volatility Elevated
It sits well below its peak, and the fall has been both deep and long.
An interpretation is present only while every observation it reads stays fired (score ≥ 70). It describes what the aligned readings show — never a verdict, never a prediction.
Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Peer Positioning
Gross margin is 99%, higher than 95% of its Biotechnology peers (median 75.8%)Significant
Gross margin: 0.99Industry median: 0.76Industry P95: 0.98Peers compared: 184
Debt-to-equity is 4.98×, higher than 95% of its Biotechnology peers (median 0.12×)Significant
Debt-to-equity: 4.98Industry median: 0.12Industry P95: 2.86Peers compared: 184
Structural Tensions
High gross margins eroded by operating costsNotable
Gross Margin: 0.99Profit Margin: -0.65
Significant cash reserves alongside high leverageNotable
Cash (USD): 2,102,353,024Total Debt (USD): 2,189,019,904Debt-to-Equity: 4.98
Financial Health
Altman Z-Score 1.16: grey zoneSignificant
Altman Z-Score: 1.16
Supply Chain
Upstream position: supplies 6 industries, depends on 3Notable
Outgoing: 6.00Incoming: 3.00
Scale
Levered free cash flow is -$346.76M, lower than 95% of all stocks globallySignificant
Levered free cash flow (USD): -346,764,640Global P5: -208,569,634.4
Market cap is $7.4B, above the global median of $1.15BNotable
Market cap (USD): 7,395,202,329Global Median: 1,150,342,212.262
Revenue is $874.09M, above the global median of $559.35MNotable
Revenue (USD): 874,092,992Global Median: 559,350,010.583
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Companies that share active interpretations — structural patterns currently present in both stocks.
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