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We are a patient-focused, innovative, commercial-stage, global biopharmaceutical company with a substantial presence in both Greater China and the United States. We are focused on discovering, developing, and commercializing products that address medical conditions with significant unmet needs in the areas of oncology, immunology, neuroscience, and infectious disease.
The business is unprofitable at the operating level (-49.86% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 15.3% YoY with margins expanding 20.8pp.
Negative free cash flow of -$159M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$453M
▲ +15.3% YoY
Net Income (TTM)
-$178M
▲ +31.7% YoY
Op. Margin
-53.50%
▲ +20.8pp YoY
ROIC
-20.19%
▲ +5.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$109M
▲ +27.9% YoY
Op. Cash Flow (TTM)
-$101M
▲ +29.8% YoY
Net Debt
-$429M
Net Cash Position
Cash & Equiv.
$661M
5Y CAGR: +56.5%
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