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We are a clinical-stage biotechnology company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases. Through our PROteolysis TArgeting Chimera, or PROTAC, protein degradation platform, we are pioneering the development of a new class of therapeutics designed to harness the body s ow n natural protein disposal system to selectively and ef…
The business is unprofitable at the operating level (-45.13% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 0.3% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$276M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$89M
▼ -0.3% YoY
Net Income (TTM)
-$221M
▲ +59.4% YoY
Op. Margin
-283.78%
▲ +49.9pp YoY
ROIC
-39.46%
▲ +13.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$257M
▼ -5.6% YoY
Op. Cash Flow (TTM)
-$254M
▼ -5.6% YoY
Net Debt
-$606M
Net Cash Position
Cash & Equiv.
$615M
5Y CAGR: +58.9%
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