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We are a biopharmaceutical company headquartered in San Diego, California, focused on identifying, developing and delivering life-changing therapies to people living with rare kidney and metabolic diseases. Our approach centers on advancing our innovative pipeline with multiple late-stage clinical programs targeting rare diseases with significant unmet medical needs.
The business is unprofitable at the operating level (-12.80% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 110.5% YoY with margins expanding 126.1pp.
Insufficient data to identify specific risks. Treat any missing metrics as a data gap, not a clean bill of health.
Profitability & Returns
Revenue (TTM)
$536M
▲ +110.5% YoY
Net Income (TTM)
-$21M
▲ +92.1% YoY
Op. Margin
-10.64%
▲ +126.1pp YoY
ROIC
-11.02%
▲ +39.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$40M
▲ +115.9% YoY
Op. Cash Flow (TTM)
$40M
▲ +115.9% YoY
Net Debt
$119M
Cash & Equiv.
$209M
5Y CAGR: +19.9%
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