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We are a biopharmaceutical company developing and commercializing novel therapeutics for the treatment of rare hematology diseases. Our goal is to build a profitable company by generating income from products we develop and commercialize, either alone or with partners.
The business is unprofitable at the operating level (-1336.66% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 150.0% YoY with margins expanding 63.4pp.
ROIC dropped from -27.49% to -37.91%, capital efficiency is deteriorating. Negative free cash flow of -$86M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$8M
▲ +150.0% YoY
Net Income (TTM)
-$100M
▼ -111.5% YoY
Op. Margin
-1206.74%
▲ +63.4pp YoY
ROIC
-42.57%
▼ -10.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$93M
▲ +34.8% YoY
Op. Cash Flow (TTM)
-$93M
▲ +34.6% YoY
Net Debt
-$141M
Net Cash Position
Cash & Equiv.
$217M
5Y CAGR: +16.7%
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