/
We are a people-first global biopharmaceutical company striving to deliver first- and best-in-class therapies to transform the lives of patients facing serious diseases. Our commercial portfolio and clinical pipeline are organized around three therapeutic areas: Respiratory, Immunology & Inflammation, and Neuro & Other Rare.
The business is unprofitable at the operating level (-205.59% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 66.7% YoY with margins expanding 35.9pp.
ROIC dropped from -52.60% to -71.38%, capital efficiency is deteriorating. Negative free cash flow of -$968M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$820M
▲ +66.7% YoY
Net Income (TTM)
-$1.18B
▼ -39.7% YoY
Op. Margin
-140.56%
▲ +35.9pp YoY
ROIC
-61.10%
▼ -18.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$922M
▼ -37.1% YoY
Op. Cash Flow (TTM)
-$896M
▼ -36.7% YoY
Net Debt
-$643M
Net Cash Position
Cash & Equiv.
$1.22B
5Y CAGR: +29.8%
Continue Research