/
We are a biotechnology company committed to discovering and developing product candidates to selectively modulate the Wnt pathway, a critical mediator of tissue repair. Our current strategic focus is ophthalmology, where Wnt signaling plays a central role in retinal vascular integrity, barrier function, and tissue maintenance.
The business is unprofitable at the operating level (-1210.58% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 67.4% YoY. Margins deteriorated 970.9pp alongside, both lines moving the wrong way.
ROIC dropped from -81.06% to -440.20%, capital efficiency is deteriorating. Negative free cash flow of -$30M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$7M
▼ -67.4% YoY
Net Income (TTM)
-$343M
▼ -280.8% YoY
Op. Margin
-573.75%
▼ -970.9pp YoY
ROIC
-180.85%
▼ -359.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$34M
▼ -72.0% YoY
Op. Cash Flow (TTM)
-$33M
▼ -71.6% YoY
Net Debt
-$100M
Net Cash Position
Cash & Equiv.
$107M
3Y CAGR: -34.7%
Continue Research