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We are a clinical-stage pharmaceutical company developing a novel class of medicines, which we refer to as Bicycle molecules, for diseases that are underserved by existing therapeutics. Bicycle molecules are fully synthetic short peptides constrained to form two loops which stabilize their structural geometry.
The business is unprofitable at the operating level (-340.38% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 105.8% YoY with margins expanding 254.6pp.
Negative free cash flow of -$252M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$63M
▲ +105.8% YoY
Net Income (TTM)
-$219M
▼ -29.5% YoY
Op. Margin
-381.67%
▲ +254.6pp YoY
ROIC
-30.64%
Cash Flow & Balance Sheet
FCF (TTM)
-$232M
▼ -51.9% YoY
Op. Cash Flow (TTM)
-$229M
▼ -51.6% YoY
Net Debt
-$544M
Net Cash Position
Cash & Equiv.
$559M
5Y CAGR: +47.5%
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