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We are a clinical-stage biotechnology company pioneering a new class of therapeutics in orexin-based neuroscience. We are developing a franchise of small molecule orexin receptor 2 (OX2R) agonists designed to address neuroscience diseases underpinned by dysregulation of wakefulness, attention, cognition, mood, and other symptoms, each grounded in the shared biology of the orexin pathway.
The business is unprofitable at the operating level (-1384.61% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Negative free cash flow of -$194M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$0.00
Net Income (TTM)
-$251M
▲ +16.2% YoY
Op. Margin
-1384.61%
ROIC
-38.01%
▲ +9.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$209M
▼ -36.7% YoY
Op. Cash Flow (TTM)
-$209M
▼ -36.4% YoY
Net Debt
-$158M
Net Cash Position
Cash & Equiv.
$277M
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