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We are a clinical stage oncology company developing site-specific and novel-format antibody drug conjugates, or ADCs, enabled by our proprietary integrated cell-free protein synthesis platform, XpressCF , and our site-specific conjugation platform, XpressCF+ . We aim to design and develop therapeutics using the most relevant and potent modalities, including ADCs, bispecific ADCs, immunostimulat…
The business is unprofitable at the operating level (-154.53% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 65.2% YoY with margins expanding 229.8pp.
ROIC dropped from -150.08% to -299.92%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$100M
▲ +65.2% YoY
Net Income (TTM)
-$154M
▲ +16.0% YoY
Op. Margin
-119.98%
▲ +229.8pp YoY
ROIC
-567.38%
▼ -149.8pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
-$152M
▲ +7.5% YoY
Net Debt
-$189M
Net Cash Position
Cash & Equiv.
$203M
5Y CAGR: +19.1%
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