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We are a clinical-stage biopharmaceutical company dedicated to reinventing the treatment of human disease through the development of innovative, highly differentiated oral medicines that address significant health problems and meaningfully improve patients lives. We are committed to advancing novel technologies to address targets that have known disease-causing biology, but which have not been …
The business is unprofitable at the operating level (-891.07% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 16.7% YoY. Margins deteriorated 335.3pp alongside, both lines moving the wrong way.
Negative free cash flow of -$234M. The business is consuming cash, not generating it. Operating margin contracted 335.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$51M
▼ -16.7% YoY
Net Income (TTM)
-$315M
▼ -39.1% YoY
Op. Margin
-697.66%
▼ -335.3pp YoY
ROIC
-21.14%
▲ +8.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$244M
▼ -13.0% YoY
Op. Cash Flow (TTM)
-$243M
▼ -19.7% YoY
Net Debt
-$570M
Net Cash Position
Cash & Equiv.
$651M
5Y CAGR: +2.9%
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