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We are a clinical-stage biopharmaceutical company developing a novel class of injectable therapeutics engineered to selectively engage and modulate disease-specific T cells for the treatment of autoimmune and inflammatory diseases. Unlike conventional approaches that broadly activate the immune system, our Immuno-STAT platform is designed to selectively modulate disease-relevant T cells, enhanc…
The business is unprofitable at the operating level (-96.67% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 195.7% YoY with margins expanding 350.2pp.
Negative free cash flow of -$22M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$33M
▲ +195.7% YoY
Net Income (TTM)
-$20M
▲ +34.6% YoY
Op. Margin
-59.90%
▲ +350.2pp YoY
ROIC
-63.86%
▲ +17.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$25M
▲ +39.9% YoY
Op. Cash Flow (TTM)
-$24M
▲ +40.3% YoY
Net Debt
-$13M
Net Cash Position
Cash & Equiv.
$16M
5Y CAGR: +54.2%
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