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We are a preclinical-stage biopharmaceutical company focused on the development of novel, orally administered small-molecule therapeutics for obesity and related metabolic disorders, such as metabolic dysfunction-associated steatotic liver disease (MASLD, a type of fatty liver disease). The program aims to develop a differentiated, non-hormonal, non-incretin approach, unlike hormone-ba…
The business is unprofitable at the operating level (-84500.00% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 50.0% YoY. Margins deteriorated 36380.0pp alongside, both lines moving the wrong way.
ROIC dropped from -90.84% to -158.34%, capital efficiency is deteriorating. Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$3K
▼ -50.0% YoY
Net Income (TTM)
-$4M
▲ +10.8% YoY
Op. Margin
-138166.67%
▼ -36380.0pp YoY
ROIC
-132.24%
▼ -67.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▲ +40.3% YoY
Op. Cash Flow (TTM)
-$3M
▲ +42.3% YoY
Net Debt
-$354K
Net Cash Position
Cash & Equiv.
$354K
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