OakChart

Cullinan Therapeutics Inc

CGEMHealthcare·Biotechnology·USA·Small·NASD·Nov 11 • 3:59 PM ET

11.35+0.12 (1.07%)
2026-11-12 02:22 CET
Market cap
732.74 USD m
Revenue, TTM
0.00 USD m
Net income, TTM
-203.47 USD m
Free cash flow, TTM
-165.47 USD m
EPS diluted, TTM
-3.30
P/E
-
Compare

Price

CGEM against its 20, 50 and 200-day averages
2050200beatmiss
10.0015.0020.001.6M3.3MVolumeMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26CGEMclose 11.3520-day 13.7550-day 16.35200-day 15.8411.3552w high

51.1% under the 52-week high of 23.19 on 26 Aug 2026. 52-week low 7.25 on 11 Nov 2025. Last 15 sessions, 52.3% high to low

Volume 1.03× normal · the line is the 50-bar volume average

Profile

CGEM
52-week range, 26% of the way up
7.2523.19

Cullinan Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the developing of oncology and immuno-oncology therapies. Its pipeline includes CLN-978, CLN-619, Zipalertinib CLN-081/TAS6417, CLN-049, and CLN-617. The company was founded by Patrick A. Baeuerle on September 15, 2016 and is headquartered in Cambridge, MA.

IndexRUT
Employees109
IPOJan 08, 2021
Beta-0.02
ATR, 14d1.20
Rel volume1.03
Short float16.35%
Insider own24.87%
Inst own86.90%

Snapshot

6 groups

Valuation

IndexRUT
Market Cap730.42M
Enterprise Value442.85M
Income-203.47M
Sales0.00M
Book/sh4.32
Cash/sh4.50
Dividend Est.-
Dividend TTM-
Dividend Ex-Date-
Dividend Gr. 3/5Y- -
Payout-
Employees109
IPOJan 08, 2021

Ratios

P/E-
Forward P/E-
PEG-
P/S-
P/B2.63
P/C2.52
P/FCF-
EV/EBITDA-
EV/Sales-
Quick Ratio7.43
Current Ratio7.43
Debt/Eq0.01
LT Debt/Eq0.00
Option/ShortYes / Yes

Earnings

EPS (ttm)-3.30
EPS next Y-2.34
EPS next Q-0.65
EPS this Y10.27%
EPS next Y22.33%
EPS next 5Y5.96%
EPS past 3/5Y- -25.62%
Sales past 3/5Y- -
EPS Y/Y TTM10.29%
Sales Y/Y TTM-
EPS Q/Q10.76%
Sales Q/Q-
EarningsNov 10 BMO
EPS/Sales Surpr.12.27% -

Ownership

Insider Own24.87%
Insider Trans-0.31%
Inst Own86.90%
Inst Trans5.51%
ROA-50.44%
ROE-55.54%
ROIC-72.04%
Gross Margin-
Oper. Margin-
Profit Margin-
SMA20-17.43%
SMA50-30.57%
SMA200-28.34%
Trades-

Technical

Shs Outstand64.90M
Shs Float48.50M
Short Float16.35%
Short Ratio8.25
Short Interest7.93M
52W High23.19 -51.06%
52W Low7.25 56.55%
Volatility11.11% 8.83%
ATR (14)1.20
RSI (14)33.95
Beta-0.02
Rel Volume1.03
Avg Volume960.70K
Volume985,513

Performance

Perf Week-9.13%
Perf Month-19.50%
Perf Quarter-42.21%
Perf Half Y-30.50%
Perf YTD9.66%
Perf Year45.51%
Perf 3Y24.86%
Perf 5Y-48.74%
Perf 10Y-
Recom1.00
Target Price34.75
Prev Close11.23
Price11.35
Change %1.07%

Analyst ratings

latest 10 of 15
DateActionAnalystRating changeTargetImplied
Feb 17, 2026InitiatedCCitigroupBuy$33+190.7%
Feb 02, 2026InitiatedGGuggenheimBuy$30+164.3%
Aug 21, 2025ResumedHH.C. WainwrightBuy$24+111.5%
Jun 11, 2025ResumedSStifelBuy$22+93.8%
Oct 24, 2024InitiatedUUBSBuy$30+164.3%
May 01, 2024InitiatedSStifelBuy$40+252.4%
Apr 15, 2024InitiatedWWilliam BlairOutperform
Feb 15, 2024InitiatedWWedbushOutperform$30+164.3%
Jun 15, 2023InitiatedTTD CowenOutperform
Nov 21, 2022InitiatedBBTIG ResearchBuy$20+76.2%

Peers

Mkt cap
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FATEFate Therapeutics Inc195.12M
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ZBIOZenas Biopharma Inc1.95B
NKTXNkarta Inc106.12M
SANASana Biotechnology Inc686.16M
IMVTImmunovant Inc7.67B
IDYAIdeaya Biosciences Inc3.16B

Insider trading

latest 14 of 47
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Michaelson JenniferChief Scientific OfficerNov 05 '26Option Exercise4.303,80516,362162,649Nov 06 05:00 PM
Michaelson JenniferChief Scientific OfficerNov 05 '26Sale12.364,00049,440158,649Nov 06 05:00 PM
JENNIFER MICHAELSONOfficerNov 05 '26Proposed Sale12.494,00049,960Nov 05 04:29 PM
Michaelson JenniferChief Scientific OfficerSep 08 '26Option Exercise4.304,00017,200166,844Sep 10 09:22 AM
Michaelson JenniferChief Scientific OfficerSep 08 '26Sale21.578,000172,560158,844Sep 10 09:22 AM
JENNIFER MICHAELSONOfficerSep 08 '26Proposed Sale22.098,000176,720Sep 08 04:25 PM
Michaelson JenniferChief Scientific OfficerAug 13 '26Option Exercise4.3030,000129,000192,844Aug 14 05:00 PM
Michaelson JenniferChief Scientific OfficerAug 13 '26Sale20.2630,000607,800162,844Aug 14 05:00 PM
JENNIFER MICHAELSONOfficerAug 13 '26Proposed Sale19.6030,000588,000Aug 13 04:33 PM
Michaelson JenniferChief Scientific OfficerJul 06 '26Option Exercise4.304,00017,200170,844Jul 07 05:00 PM
Michaelson JenniferChief Scientific OfficerJul 06 '26Sale17.828,000142,560162,844Jul 07 05:00 PM
JENNIFER MICHAELSONOfficerJul 06 '26Proposed Sale17.638,000141,040Jul 06 04:25 PM
Michaelson JenniferChief Scientific OfficerMay 05 '26Option Exercise4.304,00017,200174,844May 06 05:00 PM
Michaelson JenniferChief Scientific OfficerMay 05 '26Sale14.628,000116,996166,844May 06 05:00 PM

Held by

AUM
TickerCompanyAUM
VTIVanguard Morningstar Total Stock Market ETFAUM: 687.42B
IWMiShares Russell 2000 Index FundAUM: 77.38B
XBIState Street SPDR S&P Biotech ETFAUM: 10.50B
VXFVanguard Extended Market Index ETFAUM: 30.47B
IWNiShares Russell 2000 Value ETFAUM: 14.10B
VTWOVanguard Russell 2000 Index ETFAUM: 16.75B
IBBiShares Biotechnology ETFAUM: 11.36B
DFASU.S. Small Cap Portfolio-ETF Class SharesAUM: 15.51B
FESMFidelity Enhanced Small Cap Core ETFAUM: 6.82B
SCHASchwab U.S. Small-Cap ETFAUM: 22.25B

News

latest 14 of 200
  • Cullinan Therapeutics: Q3 Earnings Snapshot (Associated Press)
  • Cullinan Therapeutics Provides Corporate Update and Reports Third Quarter 2026 Financial Results (GlobeNewswire)
  • Cullinan Therapeutics to Participate in Upcoming Investor Conferences (GlobeNewswire)
  • Velinotamig, a BCMAxCD3 T Cell Engager, Achieves Complete Renal Responses and Significantly Reduces Disease Activity in Systemic Lupus Erythematosus in Data Presented at ACR Convergence 2026 (GlobeNewswire)
  • Cullinan Therapeutics Announces Presentations for CLN-049, a FLT3 T Cell Engager, and Velinotamig, a BCMA T Cell Engager, at the 68th ASH Annual Meeting (GlobeNewswire) -20.70%
  • Cullinan Therapeutics Advances Velinotamig into Global Clinical Development for Autoimmune Cytopenias Following IND Clearance by the U.S. FDA (GlobeNewswire)
  • Cullinan Therapeutics Announces First Patient Dosed in Planned Registrational Phase 2 Study of CLN-049 in Relapsed/Refractory Acute Myeloid Leukemia (GlobeNewswire)
  • New Drug Application Submission Initiated for Zipalertinib Plus Chemotherapy in First-Line EGFR Exon 20 Insertion Mutation NSCLC for Review Under FDA Real-Time Oncology Review Program (GlobeNewswire) -5.34% +6.74%
  • CGEM Stock Extends Losses After Cullinan Delays Arthritis Update To December Zipalertinib Safety Worries Linger (Stocktwits) -8.48%
  • Cullinan Therapeutics Plans Q4 2026 Clinical Data Updates Across Three T Cell Engager Programs (InvestorsHub)
  • Cullinan Therapeutics Highlights Fourth Quarter 2026 Milestones Across Immunology and Oncology T Cell Engager Portfolio (GlobeNewswire)
  • Cullinan Therapeutics to Participate in the Stifel 2026 Virtual Immunology and Inflammation Forum (GlobeNewswire)
  • Cullinan Therapeutics Shares Fall 6.3% After Phase 3 Zipalertinib Trial Results (InvestorsHub)
  • Cullinan Therapeutics to Host Virtual Analyst and Investor Event Today to Feature Zipalertinib Plus Chemotherapy Phase 3 REZILIENT3 Data Presented at the IASLC 2026 World Conference on Lung Cancer (GlobeNewswire)

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-11-10-0.740-0.844-0.7580.000.0013
2026Q22026-08-06-0.810-0.799-0.8670.000.0013
2026Q12026-05-07-0.750-0.836-0.8140.000.0013
2025Q42026-03-10-0.770-0.809-0.8570.005.0012
2025Q32025-11-06-0.770-0.947-0.8570.000.0011
2025Q22025-08-07-1.070-0.859-1.1870.000.0010
2025Q12025-05-08-0.740-0.803-0.8230.000.0010
2024Q42025-02-27-0.730-0.750-0.8130.000.0011
2024Q32024-11-07-0.690-0.788-0.6950.000.0010
2024Q22024-08-08-0.750-0.725-0.7630.000.009
2024Q12024-05-15-0.860-0.990-0.8640.000.009
2023Q42024-03-14-0.540-0.961-0.5560.000.007
2023Q32023-11-08-0.910-0.921-0.9170.000.006
2023Q22023-08-10-0.820-0.971-0.8060.000.005
2023Q12023-05-11-1.420-0.980-1.4250.000.004
2022Q42023-03-09-0.590-0.665-0.5850.000.004

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2020FY-5.120-2.040-1.1900.004.50
2021FY-1.520-1.278-1.48018.9418.91
2022FY2.3802.3302.3850.000.00
2023FY-3.690-4.086-3.6860.000.00
2024FY-2.780-2.989-3.1130.000.00
2025FY-3.360-3.564-3.5770.005.18
2026FY--3.015--12.62
2027FY--2.342--60.40
2028FY--2.794--69.40
2029FY--2.678--107.52
2030FY--1.273--283.45

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-1080013.000.00104
2026Q4S2026-10-2080013.000.00104
2026Q4S2026-08-2180113.000.00104
2026Q4S2026-08-0690116.810.00104
2026Q4S2026-07-2190017.950.00104
2026Q4S2026-07-1990117.950.00104
2026Q4S2026-06-1890217.950.00104
2026Q4S2026-05-24110220.100.00104
2026Q4S2026-05-07111320.100.00104
2026Q4S2026-05-05111322.830.00104
2026Q4S2026-04-27111323.150.00104
2026Q4S2026-04-1791227.900.00104
2026Q4S2026-04-01101225.110.00104
2026Q4S2026-03-1891216.340.0047.27

Estimate history

EPS, annual-0.326-0.475-1.19-1.482.385-3.686-3.113-3.724-3.3016
Period20182019202020212022202320242025TTM
EPS, quarterly-0.695-0.813-0.823-1.187-0.857-0.857-0.814-0.867-0.765
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual00018.94300000
Period20182019202020212022202320242025TTM
Sales, quarterly000000000
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual43.51643.51643.51644.29245.79642.958.51160.24465.062
Period20182019202020212022202320242025MRQ
Shares, quarterly58.14158.51158.69959.07459.07660.24461.93364.5565.062
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue0.000.000.000.000.0018.940.000.000.00
Cost of Goods Sold Incl. D&A0.290.310.310.310.090.050.060.070.04
Gross Profit-0.29-0.31-0.31-0.31-0.0918.89-0.06-0.07-0.04
Selling, General and Administrative Excl. Other218.52241.34196.61190.34132.0486.8460.2722.2014.54
Research and Development169.67187.40142.90148.1691.9557.7543.2116.799.58
Other Operating Expense0.000.000.000.000.000.000.000.000.00
Operating Income-218.81-241.65-196.92-190.65-132.14-67.95-60.34-22.27-14.59
Interest Expense0.000.000.000.000.000.000.000.000.00
Unusual Expense0.000.000.000.440.000.000.000.000.00
Net Income Before Taxes-203.47-219.88-167.46-169.22151.32-67.48-59.46-21.65-14.19
Income Taxes0.000.000.12-14.1242.120.000.000.000.00
Consolidated Net Income-203.47-219.88-167.57-155.10109.19-67.48-59.46-21.65-14.19
Net Income From Continuing Operations-203.47-219.88-167.38-153.16111.21-65.57-51.80-20.66-14.19
Net Income-203.47-219.88-167.38-153.16111.21-65.57-51.80-20.66-14.19
EPS (Recurring)-3.15-3.72-3.11-3.682.38-1.48-1.19-0.47-0.33
EPS (Basic, Before Extraordinaries)-3.30-3.72-3.11-3.692.46-1.48-1.19-0.47-0.33
EPS (Diluted)-3.30-3.72-3.11-3.692.38-1.48-1.19-0.47-0.33
EBITDA-218.52-241.34-196.61-190.34-132.04-67.90-60.27-22.20-14.54
Non-Operating Income (Expense)15.3421.7729.4621.87283.450.470.880.620.40
Other After Tax Adjustments0.000.000.000.000.000.000.000.000.00
Stock Option Compensation Expense31.7536.0429.8824.0522.0912.1414.910.020.00
Price To Earnings Ratio----4.75----
Price To Sales Ratio-----36.08---
Gross Margin-----99.72---
Operating Margin------358.73---
Net Margin------346.14---
Shares Outstanding65.0660.2458.5142.9045.8044.2943.5243.5243.52
Market Capitalization732.74732.74709.21435.93482.90674.05685.85--

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue0.000.000.000.000.000.000.000.00
Cost of Goods Sold Incl. D&A0.050.080.080.080.080.080.080.08
Gross Profit-0.05-0.08-0.08-0.08-0.08-0.08-0.08-0.08
Selling, General and Administrative Excl. Other52.5557.1753.6255.1855.5275.7254.9254.97
Research and Development40.1744.4442.1242.9541.9761.0341.4640.49
Other Operating Expense0.000.000.000.000.000.000.000.00
Operating Income-52.60-57.25-53.70-55.26-55.59-75.80-55.00-55.05
Interest Expense0.000.000.000.000.000.000.000.00
Unusual Expense0.000.000.000.000.000.000.000.00
Net Income Before Taxes-49.39-53.70-49.66-50.71-50.61-70.06-48.50-47.53
Income Taxes0.000.000.000.000.000.000.000.12
Consolidated Net Income-49.39-53.70-49.66-50.71-50.61-70.06-48.50-47.65
Net Income From Continuing Operations-49.39-53.70-49.66-50.71-50.61-70.06-48.50-47.65
Net Income-49.39-53.70-49.66-50.71-50.61-70.06-48.50-47.65
EPS (Recurring)-0.76-0.87-0.81-0.86-0.86-1.19-0.82-0.81
EPS (Basic, Before Extraordinaries)-0.76-0.87-0.81-0.86-0.86-1.19-0.82-0.81
EPS (Diluted)-0.76-0.87-0.81-0.86-0.86-1.19-0.82-0.81
EBITDA-52.55-57.17-53.62-55.18-55.52-75.72-54.92-54.97
Non-Operating Income (Expense)3.213.554.044.554.995.746.507.52
Other After Tax Adjustments0.000.000.000.000.000.000.000.00
Stock Option Compensation Expense8.378.457.627.319.479.899.377.61
Shares Outstanding65.0664.5561.9360.2459.0859.0758.7058.51
Market Capitalization732.741,127.93860.08611.44350.31444.38442.94709.21

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Cash & Short Term Investments377.90398.98467.07467.29290.47210.2198.6333.83
Short Term Receivables0.003.005.400.000.000.000.000.00
Inventories0.000.000.000.000.000.000.000.00
Other Current Assets8.8612.697.727.186.102.071.460.39
Total Current Assets386.76414.67480.19474.47296.56212.28100.0934.22
Net Property, Plant & Equipment3.052.353.535.300.080.130.180.23
Total Investments and Advances58.27204.440.0080.88140.400.000.000.00
Deferred Tax Assets0.770.600.91-----
Other Assets0.300.370.460.460.152.300.190.19
Total Assets449.14622.43485.10561.12437.19214.71100.4634.64
Short Term Debt Incl. Current Port. of LT Debt0.781.301.441.420.000.000.000.00
Accounts Payable0.841.682.492.663.179.680.000.00
Income Tax Payable--0.004.28----
Other Current Liabilities36.1227.6624.2014.138.584.642.521.32
Total Current Liabilities37.7430.6528.1422.5011.7514.322.521.32
Long Term Debt1.900.852.153.590.000.000.000.00
Provision for Risks Charges0.000.000.000.000.000.000.000.00
Deferred Tax Liabilities0.770.600.91-----
Other Liabilities0.000.000.000.000.070.070.070.06
Total Liabilities40.4132.1031.2026.0911.8114.392.601.39
Non-Equity Reserves0.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.00276.65137.7753.90
Common Equity408.73590.33453.70535.03424.97-76.34-39.91-20.65
Total Shareholders Equity408.73590.33453.70535.03424.97200.3197.8633.25
Accumulated Minority Interest0.000.000.190.000.400.000.000.00
Total Equity408.73590.33453.89535.03425.37200.3197.8633.25
Total Liabilities & Stockholders Equity449.14622.43485.10561.12437.19214.71100.4634.64
Book Value Per Share6.7810.0910.5811.689.59-1.75-0.92-0.47
Tangible Book Value Per Share6.7810.0910.5811.689.59-1.75-0.92-0.47
Full-Time Employees10911185623124--
Price to Book Ratio2.631.130.930.821.611.55--
Return on Assets-41.04-30.23-29.2822.28-20.12-32.87-30.58-
Return on Equity-44.02-32.06-30.9823.17-20.97-34.74-31.51-
Return on Invested Capital-53.55-28.31-33.6020.65-15.43-25.86-21.11-42.67
Quick Ratio10.2513.5317.0721.0925.2514.8239.6725.85
Current Ratio10.2513.5317.0721.0925.2514.8239.6725.85

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Net Income-203.47-219.88-167.57-155.10109.19-67.48-59.46-21.65-14.19
Depreciation0.290.310.310.310.090.050.060.070.04
Other Funds (Non Cash)29.0329.7322.3620.86-247.1327.5422.770.550.25
Funds from Operations-174.15-189.83-144.91-133.94-137.84-39.89-36.62-21.03-13.89
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital8.6914.08-0.39-0.3411.18-3.546.850.140.34
Income Taxes Payable--0.00-4.284.28----
Cash from Operating Activities-165.46-175.75-145.30-134.28-126.66-43.43-29.77-20.90-13.55
Capital Expenditures-0.01-0.050.00-0.21-1.130.00-0.01-0.02-0.26
Net Assets From Acquisitions0.000.000.000.000.000.000.000.000.00
Sale of Fixed Assets and Businesses0.000.000.000.00276.240.921.450.000.00
Purchase or Sale of Investments147.13180.04-136.3136.01-24.98-333.77-6.86-35.380.00
Purchase of Investments-88.71-236.53-721.13-373.38-377.92-525.81-69.76-35.380.00
Sale Or Maturity of Investments235.84416.57584.82409.40352.93192.0462.900.000.00
Other Uses0.000.000.000.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.000.000.000.00
Cash from Investing Activities147.12179.99-136.3135.81250.13-332.85-5.42-35.40-0.26
Cash Dividends Paid0.000.000.000.000.000.000.000.000.00
Change in Capital Stock3.261.09270.6438.938.39267.86140.1485.72-0.03
Repurchase of Common Pref Stock0.000.000.000.000.000.000.000.000.00
Sale of Common Pref Stock3.261.09270.6438.938.39267.86140.1485.72-0.03
Proceedsfrom Stock Options3.261.09270.6437.106.02264.58140.0885.72-0.03
Issuance or Reduction of Debt, Net0.000.000.001.82-2.200.000.000.000.00
Change in Long Term Debt0.000.000.001.82-2.200.000.000.000.00
Issuance of Long Term Debt0.000.000.001.820.000.000.000.000.00
Reduction of Long Term Debt0.000.000.000.00-2.200.000.000.000.00
Net Financing Active Other Cash Flow0.000.00-4.450.00-33.280.000.000.000.00
Other Financing Activities Uses0.000.00-4.450.00-33.280.000.000.000.00
Cash from Financing Activities3.261.09266.1940.75-27.09267.86140.1485.72-0.03
Net Change in Cash-15.075.33-15.43-57.7296.38-108.42104.9529.42-13.84
Free Cash Flow-165.47-175.80-145.30-134.48-127.80-43.43-29.78-20.92-13.81
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.000.000.00
Deferred Taxes & Investment Tax Credit-0.000.000.000.000.000.000.000.00

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments289.57334.54351.88377.90332.60265.48
Short Term Receivables0.000.000.000.000.000.00
Inventories0.000.000.000.000.000.00
Other Current Assets8.587.449.528.869.6410.43
Total Current Assets298.15341.97361.41386.76342.24275.91
Net Property, Plant & Equipment2.212.502.783.051.531.75
Total Investments and Advances21.9019.0238.5058.27140.00242.30
Deferred Tax Assets---0.77--
Other Assets0.300.300.300.300.360.37
Total Assets322.56363.79402.98449.14484.13520.33
Short Term Debt Incl. Current Port. of LT Debt0.860.670.720.781.191.39
Accounts Payable1.143.732.510.841.722.46
Other Current Liabilities38.1436.2431.9236.1229.8524.20
Total Current Liabilities40.1340.6335.1537.7432.7628.06
Long Term Debt1.151.411.661.900.000.12
Provision for Risks Charges0.000.000.000.000.000.00
Deferred Tax Liabilities---0.77--
Other Liabilities0.000.000.000.000.000.00
Total Liabilities41.2742.0336.8140.4132.7628.18
Non-Equity Reserves0.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.00
Common Equity281.28321.75366.17408.73451.37492.15
Total Shareholders Equity281.28321.75366.17408.73451.37492.15
Accumulated Minority Interest0.000.000.000.000.000.00
Total Equity281.28321.75366.17408.73451.37492.15
Total Liabilities & Stockholders Equity322.56363.79402.98449.14484.13520.33
Book Value Per Share4.324.985.916.787.648.33
Tangible Book Value Per Share4.324.985.916.787.648.33
Full-Time Employees---109--
Price to Book Ratio2.633.082.091.350.710.80
Return on Assets-50.44-46.30-44.99-41.04-38.12-34.42
Return on Equity-55.54-50.30-48.16-44.02-40.18-36.01
Return on Invested Capital-17.49-16.62-13.50-12.35-11.21-14.23
Quick Ratio7.438.4210.2810.2510.459.83
Current Ratio7.438.4210.2810.2510.459.83

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Net Income-49.39-53.70-49.66-50.71-50.61-70.06
Depreciation0.050.080.080.080.080.08
Other Funds (Non Cash)7.927.896.846.388.118.18
Funds from Operations-41.42-45.73-42.74-44.25-42.42-61.80
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital-1.677.51-3.306.145.544.19
Cash from Operating Activities-43.08-38.22-46.05-38.11-36.88-57.61
Capital Expenditures0.000.000.00-0.010.000.00
Net Assets From Acquisitions0.000.000.000.000.000.00
Sale of Fixed Assets and Businesses0.000.000.000.000.000.00
Purchase or Sale of Investments51.6440.6832.4122.4067.4353.40
Purchase of Investments-34.40-14.57-20.14-19.60-12.57-78.53
Sale Or Maturity of Investments86.0455.2552.5542.0080.00131.93
Other Uses0.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.00
Cash from Investing Activities51.6440.6832.4122.3967.3953.40
Cash Dividends Paid0.000.000.000.000.000.00
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock1.061.100.380.710.000.37
Repurchase of Common Pref Stock0.000.000.000.000.000.00
Sale of Common Pref Stock1.061.100.380.710.000.37
Proceedsfrom Stock Options1.061.100.380.710.000.37
Issuance or Reduction of Debt, Net0.000.000.000.000.000.00
Change in Long Term Debt0.000.000.000.000.000.00
Issuance of Long Term Debt0.000.000.000.000.000.00
Reduction of Long Term Debt0.000.000.000.000.000.00
Net Financing Active Other Cash Flow0.000.000.000.000.000.00
Other Financing Activities Uses0.000.000.000.000.000.00
Cash from Financing Activities1.061.100.380.710.000.37
Net Change in Cash9.623.56-13.25-15.0030.52-3.83
Free Cash Flow-43.08-38.22-46.05-38.12--

Revenue breakdown

Revenue split-

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-3016.35%7.9M48.5M897.07K
2026-10-1515.75%7.6M48.5M882.20K
2026-09-3015.74%7.6M48.5M838.66K
2026-09-1519.85%9.6M48.5M841.88K
2026-08-3122.03%10.4M47.1M914.44K
2026-08-1423.46%10.6M45.1M985.67K
2026-07-3121.47%10.3M47.8M1.05M
2026-07-1522.55%10.3M45.6M1.07M
2026-06-3022.92%10.6M46.2M1.08M
2026-06-1517.90%8.2M45.7M964.82K
2026-05-2917.64%8.0M45.2M877.24K
2026-05-1519.20%8.7M45.2M854.50K
2026-04-3019.50%8.8M45.1M790.50K
2026-04-1518.26%8.1M44.5M807.56K
2026-03-3118.91%8.4M44.4M793.22K
2026-03-1318.85%8.4M44.4M825.38K
2026-02-2718.66%8.1M43.3M903.36K
2026-02-1318.51%8.0M43.3M1.01M
2026-01-3020.41%8.0M39.1M1.03M
2026-01-1521.54%8.4M39.1M1.09M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call3.006.0010.500.0018.2160.000.000.986-0.0160.001
call4.005.009.500.0013.5010.000.000.983-0.0160.001
call5.004.008.506.5110.8160.000.000.978-0.0160.001
call6.003.007.105.527.8380.000.000.973-0.0160.001
call7.002.006.500.007.4620.000.000.965-0.0150.001
call8.002.254.900.005.0370.000.000.800-0.1390.005
call9.000.404.900.005.9300.000.000.753-0.1280.006
call10.000.104.906.006.6084.000.000.698-0.1440.006
call11.000.004.900.007.1580.000.000.662-0.1770.006
call12.000.004.900.887.6241.000.000.691-0.2490.006
call13.000.004.202.506.91880.000.000.660-0.2540.006
call14.000.003.302.005.9424.000.000.593-0.2310.007
call15.000.002.000.155.40312.000.000.537-0.2120.007
call16.000.001.900.604.58525.000.000.451-0.1820.007
call17.000.002.500.803.8309.000.000.353-0.1420.007
call18.000.000.800.603.42536.001.000.275-0.1150.006
call19.000.001.604.323.6353.000.000.266-0.1190.006
call20.000.001.251.203.8291.000.000.257-0.1240.006
call21.000.001.203.343.6352.000.000.211-0.1050.005
call22.000.001.750.003.7970.000.000.205-0.1080.005
call23.000.001.250.003.9490.000.000.200-0.1110.005
call24.000.001.000.004.0910.000.000.196-0.1130.005
call25.000.001.000.004.2260.000.000.192-0.1150.005
call26.000.002.000.004.3530.000.000.189-0.1180.005
call27.000.004.900.204.4743.000.000.185-0.1200.005
call28.000.001.250.204.5903.000.000.183-0.1220.005
call29.000.004.900.205.48813.000.000.251-0.1730.006
put3.000.001.000.004.6230.000.00-0.014-0.0160.001
put4.000.004.900.003.6750.000.00-0.017-0.0160.001
put5.000.001.000.002.9520.000.00-0.022-0.0150.001
put6.000.001.000.002.3630.000.00-0.027-0.0150.001
put7.000.004.900.051.86140.000.00-0.035-0.0140.001
put8.000.004.900.004.9520.000.00-0.200-0.1380.005
put9.000.001.500.004.0510.000.00-0.247-0.1270.006
put10.000.002.050.004.1140.000.00-0.302-0.1430.006
put11.000.002.300.753.61911.000.00-0.338-0.1750.006
put12.000.004.900.305.0591.000.00-0.309-0.2470.006
put13.000.404.502.354.0591020.00-0.340-0.2520.006
put14.001.603.904.803.0286710.00-0.407-0.2290.007
put15.001.506.003.944.9431,0170.00-0.524-0.1750.007
put16.002.907.002.945.25093.000.00-0.549-0.1800.007
put17.004.008.002.505.5262.000.00-0.647-0.1410.007
put18.004.509.006.385.77872.000.00-0.725-0.1130.006
put19.005.509.807.755.7221821.00-0.734-0.1170.006
put20.006.5011.006.666.22023.000.00-0.782-0.1000.005
put21.007.5012.000.006.4190.000.00-0.750-0.1250.006
put22.008.5013.007.606.60338.000.00-0.756-0.1290.006
put23.009.7014.000.006.7730.000.00-0.800-0.1080.005
put24.0010.5015.000.006.9370.000.00-0.804-0.1110.005
put25.0011.5016.000.007.0910.000.00-0.770-0.1380.005
put26.0012.5016.300.006.2040.000.00-0.774-0.1400.005
put27.0013.7018.000.007.3740.000.00-0.777-0.1430.005
put28.0014.5018.800.007.2140.000.00-0.780-0.1450.005
put29.0015.5020.000.007.6290.000.00-0.783-0.1470.005

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-1010-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-11-108-KCurrent report2026-11-10SEC
2026-11-10SCHEDULE 13GSEC
2026-11-098-KCurrent report2026-11-08SEC
2026-11-064Statement of changes in beneficial ownership of securities2026-11-05SEC
2026-11-05144Filing for proposed sale of securities under Rule 144.SEC
2026-11-048-KCurrent report2026-11-04SEC
2026-10-028-KCurrent report2026-10-01SEC
2026-09-248-KCurrent report2026-09-24SEC
2026-09-148-KCurrent report2026-09-13SEC
2026-09-104Statement of changes in beneficial ownership of securities2026-09-08SEC
2026-09-08144Filing for proposed sale of securities under Rule 144.SEC
2026-08-144Statement of changes in beneficial ownership of securities2026-08-13SEC
2026-08-14SCHEDULE 13G/ASEC
2026-08-14SCHEDULE 13GSEC
2026-08-13144Filing for proposed sale of securities under Rule 144.SEC
2026-08-138-KCurrent report2026-08-12SEC
2026-08-07SCHEDULE 13GSEC
2026-08-0610-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-08-068-KCurrent report2026-08-06SEC
2026-07-074Statement of changes in beneficial ownership of securities2026-07-06SEC
2026-07-06144Filing for proposed sale of securities under Rule 144.SEC
2026-07-024Statement of changes in beneficial ownership of securities2026-06-30SEC
2026-07-024Statement of changes in beneficial ownership of securities2026-06-30SEC
2026-06-184Statement of changes in beneficial ownership of securities2026-06-16SEC
2026-06-184Statement of changes in beneficial ownership of securities2026-06-16SEC
2026-06-184Statement of changes in beneficial ownership of securities2026-06-16SEC
2026-06-184Statement of changes in beneficial ownership of securities2026-06-16SEC
2026-06-184Statement of changes in beneficial ownership of securities2026-06-16SEC
2026-06-184Statement of changes in beneficial ownership of securities2026-06-16SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110049.44K1
2026-100000
2026-0900172.56K1
2026-0800607.80K1
2026-0700142.56K1
2026-060000
2026-0500117.00K1
2026-040000
2026-0300125.44K1
2026-0200987.96K12
2026-010049.20K1
2025-1200257.68K7
2025-110049.20K1

Institutional holders

Manager% owned
MPM BioImpact LLC15.71%
Lynx1 Capital Management LP14.47%
BVF INC/IL9.28%
BlackRock, Inc.8.45%
PRICE T ROWE ASSOCIATES INC /MD/6.18%
STATE STREET CORP5.92%
Kynam Capital Management, LP5.03%
VANGUARD CAPITAL MANAGEMENT LLC4.22%
RTW INVESTMENTS, LP3.82%
Siren, L.L.C.3.06%

Funds

Fund% owned
State Street(R) SPDR(R) S&P(R) Biotech ETF3.84%
VANGUARD TOTAL STOCK MARKET INDEX FUND3.12%
iShares Russell 2000 ETF2.55%
T. Rowe Price New Horizons Fund, Inc.1.65%
VANGUARD EXTENDED MARKET INDEX FUND1.00%
T. Rowe Price Health Sciences Fund, Inc.0.94%
iShares Russell 2000 Value ETF0.91%
T. Rowe Price Integrated U.S. Small-Cap Growth Equity Fund0.90%
VANGUARD RUSSELL 2000 INDEX FUND0.54%
iShares Biotechnology ETF0.51%

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