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We are a clinical-stage biotechnology company developing treatments for age-related brain disorders. Our lead drug candidate, neflamapimod, is an investigational, orally administered small-molecule drug that readily crosses the blood brain barrier and selectively inhibits the enzyme p38 , a key driver of neuroinflammation and synaptic dysfunction.
The business is unprofitable at the operating level (-706.22% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 58.9% YoY. Margins deteriorated 519.0pp alongside, both lines moving the wrong way.
ROIC dropped from -61.83% to -77.85%, capital efficiency is deteriorating. Negative free cash flow of -$23M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$2M
▼ -58.9% YoY
Net Income (TTM)
-$30M
▼ -65.5% YoY
Op. Margin
-1488.86%
▼ -519.0pp YoY
ROIC
-111.32%
▼ -16.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$28M
▼ -41.9% YoY
Op. Cash Flow (TTM)
-$28M
▼ -41.9% YoY
Net Debt
-$13M
Net Cash Position
Cash & Equiv.
$13M
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