CompanyGraph
At a glance
- Depends onUpstream position: supplies 6 industries, depends on 3
- PositionGross margin is -73.2%, lower than 95% of its Biotechnology peers (median 67.1%)
- FinancialsAltman Z-Score -2.88: distress zone
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Sign inThe reported statements, read against the company's own industry.
Financials view
Market Capitalization
511.29MUSDvs all stocks (USD)
Revenue (TTM)
87.82MUSDvs all stocks (USD)
Beta
0.9010xvs all stocks
52-Week Change
16.49%vs all stocks
Market Capitalization
511.29MUSDvs all stocks (USD)
Enterprise Value
609.19MUSDvs all stocks (USD)
Forward P/E
-3.84xvs Biotechnology peers
Price to Sales (TTM)
6.08xvs Biotechnology peers
Price to Book (MRQ)
24.24xvs Biotechnology peers
Enterprise to Revenue
6.94xvs Biotechnology peers
Enterprise to EBITDA
-2.53xvs Biotechnology peers
Gross Margin
-73.22%vs Biotechnology peers
Operating Margin
-1303.96%vs Biotechnology peers
Return on Assets (TTM)
-38.53%vs Biotechnology peers
Return on Equity (TTM)
-196.43%vs Biotechnology peers
Revenue (TTM)
87.82MUSDvs all stocks (USD)
Revenue per Share (TTM)
1.69USDUpdated Jul 19, 2026Quarterly Revenue Growth
-92.80%vs Biotechnology peers
Gross Profit (TTM)
-172.66MUSDvs all stocks (USD)
EBITDA (TTM)
-241.17MUSDvs all stocks (USD)
Net Income (TTM)
-290.01MUSDvs all stocks (USD)
Quarterly Earnings Growth (YoY)
-92.82%vs Biotechnology peers
Operating Cash Flow (TTM)
-233.78MUSDvs all stocks (USD)
Levered Free Cash Flow (TTM)
-138.98MUSDvs all stocks (USD)
Trailing Annual Dividend Rate
0.00USDUpdated Jul 19, 2026Trailing Annual Dividend Yield
0.00%vs all stocks
Payout Ratio
0.00%vs Biotechnology peers
Revenue
170.44MUSDFY2025 · Dec 31, 2025Cost of Goods Sold
20.30MUSDFY2025 · Dec 31, 2025Gross Profit
150.14MUSDFY2025 · Dec 31, 2025Operating Income
-161.20MUSDvs all stocks (USD)
Pre-tax Income
-193.88MUSDFY2025 · Dec 31, 2025Net Income
-193.88MUSDFY2025 · Dec 31, 2025EBIT
-148.87MUSDFY2025 · Dec 31, 2025EBITDA (Income Statement)
-145.50MUSDFY2025 · Dec 31, 2025Research & Development
228.30MUSDFY2025 · Dec 31, 2025Selling, General & Administrative
82.86MUSDFY2025 · Dec 31, 2025Other Operating Expenses
179.00KUSDFY2025 · Dec 31, 2025Non-operating Interest Income
83.00KUSDFY2025 · Dec 31, 2025Non-operating Interest Expense
45.01MUSDFY2025 · Dec 31, 2025Net Income from Continuing Operations
-193.88MUSDFY2025 · Dec 31, 2025Operating Cash Flow
-115.79MUSDFY2025 · Dec 31, 2025Free Cash Flow
-118.20MUSDDerived from operating cash flow minus capital expenditure. This filing charges 15.62M of depreciation against 2.41M of capital expenditure, and its own free-cash-flow line reads -126.38M.FY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
36.50MUSDFY2025 · Dec 31, 2025Income Tax Paid
285.00KUSDFY2025 · Dec 31, 2025Interest Paid
32.11MUSDFY2025 · Dec 31, 2025Starting Profit (CF Statement)
-193.88MUSDFY2025 · Dec 31, 2025Depreciation & Amortization
15.62MUSDFY2025 · Dec 31, 2025Stock-based Compensation
34.56MUSDFY2025 · Dec 31, 2025Other Non-cash Items
13.50MUSDFY2025 · Dec 31, 2025Change in Accounts Receivable (CF)
-7.66MUSDFY2025 · Dec 31, 2025Change in Accounts Payable (CF)
-2.28MUSDFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
24.36MUSDFY2025 · Dec 31, 2025Capital Expenditures
-2.41MUSDFY2025 · Dec 31, 2025Purchase of Investments
-332.63MUSDFY2025 · Dec 31, 2025Sale of Investments
319.18MUSDFY2025 · Dec 31, 2025Net Investing Cash Flow
-15.87MUSDFY2025 · Dec 31, 2025Long-term Debt Issuance
144.49MUSDFY2025 · Dec 31, 2025Other Financing Charges
-29.09MUSDFY2025 · Dec 31, 2025Net Financing Cash Flow
116.45MUSDFY2025 · Dec 31, 2025Shares Outstanding
51.62MSharesUpdated Jul 19, 2026Float Shares
43.04MSharesUpdated Jul 19, 2026Shares Short
10.46MSharesUpdated Jul 19, 2026Short Ratio
4.53daysvs all stocks
Short % of Shares Outstanding
21.77%vs all stocks
% Held by Insiders
8.06%vs all stocks
% Held by Institutions
81.90%vs all stocks
Total Cash (MRQ)
150.49MUSDvs all stocks (USD)
Total Cash per Share (MRQ)
2.91USDUpdated Jul 19, 2026Total Debt (MRQ)
248.40MUSDvs all stocks (USD)
Total Debt to Equity (MRQ)
11.78xvs Biotechnology peers
Current Ratio (MRQ)
2.62xvs Biotechnology peers
Book Value per Share (MRQ)
0.4080USDUpdated Jul 19, 2026Total Assets
453.03MUSDvs all stocks (USD)
Total Current Assets
281.28MUSDFY2025 · Dec 31, 2025Total Liabilities
350.30MUSDFY2025 · Dec 31, 2025Total Non-current Assets
171.75MUSDFY2025 · Dec 31, 2025Total Non-current Liabilities
232.20MUSDFY2025 · Dec 31, 2025Total Current Liabilities
118.09MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents
34.47MUSDFY2025 · Dec 31, 2025Other Short-term Investments
195.60MUSDFY2025 · Dec 31, 2025Accounts Receivable
557.00KUSDFY2025 · Dec 31, 2025Accounts Payable
21.36MUSDFY2025 · Dec 31, 2025Short-term Debt
8.29MUSDFY2025 · Dec 31, 2025Deferred Revenue
10.45MUSDFY2025 · Dec 31, 2025Other Current Liabilities
39.61MUSDFY2025 · Dec 31, 2025Long-term Debt
65.22MUSDFY2025 · Dec 31, 2025Other Non-current Liabilities
148.05MUSDFY2025 · Dec 31, 2025Common Stock (Book)
5.00KUSDFY2025 · Dec 31, 2025Retained Earnings
-1.13BUSDFY2025 · Dec 31, 2025Total Shareholders' Equity
102.73MUSDvs all stocks (USD)
52-Week Low
5.46USDUpdated Jul 19, 202652-Week High
16.19USDUpdated Jul 19, 202652-Week Change
16.49%vs all stocks
Beta
0.9010xvs all stocks
50-Day MA
9.17USDUpdated Jul 19, 2026200-Day MA
10.61USDUpdated Jul 19, 2026Avg 10-Day Volume
2.81MSharesUpdated Jul 19, 2026Avg 30-Day Volume
2.68MSharesUpdated Jul 19, 2026Diluted EPS (TTM)
-5.60USDUpdated Jul 19, 2026Other Income / Expense
12.24MUSDFY2025 · Dec 31, 2025Shared 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 -73.2%, lower than 95% of its Biotechnology peers (median 67.1%)Significant
Gross margin: -0.73Industry median: 0.67Industry P5: 0.14Peers compared: 261
Return on equity is -196.4%, lower than 95% of its Biotechnology peers (median -21.7%)Significant
Return on equity: -1.96Industry median: -0.22Industry P5: -1.66Peers compared: 261
Debt-to-equity is 11.78×, higher than 95% of its Biotechnology peers (median 0.09×)Significant
Debt-to-equity: 11.78Industry median: 0.09Industry P95: 0.88Peers compared: 261
Price-to-book is 24.24×, higher than 95% of its Biotechnology peers (median 2.97×)Significant
Price-to-book: 24.24Industry median: 2.97Industry P95: 23.50Peers compared: 261
Structural Tensions
Significant cash reserves alongside high leverageNotable
Cash (USD): 150,491,008Total Debt (USD): 248,396,000Debt-to-Equity: 11.78
Looks liquid, but the distress score says otherwiseNotable
Current Ratio: 2.62Altman Z-Score: -2.88
Financial Health
Altman Z-Score -2.88: distress zoneCritical
Altman Z-Score: -2.88
Low earnings qualitySignificant
Earnings Quality Score: -0.53
Supply Chain
Upstream position: supplies 6 industries, depends on 3Notable
Outgoing: 6.00Incoming: 3.00
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