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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Net income was −$739M. Operating cash flow of −$609M less capital expenditure of $715,000 left free cash flow of −$610M. Net debt was $9M.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Research & development | 181 | 437 | 373 | 796 | 635 |
| Operating income | −219 | −568 | −436 | −885 | −745 |
| Pre-tax income | −212 | −570 | −410 | −846 | −737 |
| Income tax | 1.4 | 0.4 | −1.4 | 0.7 | 1.4 |
| Net income | −214 | −570 | −408 | −846 | −739 |
| Diluted EPS | −5.43 | −12.75 | −5.73 | −9.28 | −6.86 |
| Diluted shares | 39.4 | 44.7 | 71.2 | 91.2 | 108 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 76.1 | 205 | 248 | 99.1 | 230 |
| Current assets | 94.8 | 587 | 442 | 538 | 368 |
| Net PP&E | 13.0 | 17.5 | 17.2 | 17.3 | 16.0 |
| Goodwill | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 |
| Total assets | 142 | 662 | 513 | 615 | 451 |
| Payables | 4.8 | 10.7 | 15.6 | 18.0 | 11.6 |
| Current liabilities | 41.9 | 90.0 | 55.4 | 154 | 116 |
| Long-term debt | – | – | – | 0.0 | 239 |
| Total liabilities | 47.4 | 123 | 85.2 | 192 | 399 |
| Shareholders' equity | 34.7 | 539 | 428 | 423 | 52.1 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −146 | −298 | −332 | −582 | −609 |
| Capital expenditure | 0.9 | 6.1 | 3.0 | 4.0 | 0.7 |
| Free cash flow | −147 | −304 | −335 | −587 | −610 |
| Depreciation & amortisation | 1.4 | 1.4 | 6.9 | 7.9 | 9.9 |
| Stock-based compensation | 65.6 | 194 | 28.8 | 72.0 | 112 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Return on equityBlank when equity is negative | −616.3% | −105.8% | −95.4% | −199.9% | −1418.8% |
| ROCEEBIT ÷ (assets − current liabilities) | −218.6% | −99.3% | −95.3% | −192.0% | −222.2% |
| Cash conversion (CFO ÷ net income) | 0.68x | 0.52x | 0.81x | 0.69x | 0.82x |
| Debt ÷ equity | – | – | – | 0.00x | 4.59x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | – | – | −99.1 | 8.9 |
| Current ratio | 2.26x | 6.52x | 7.98x | 3.49x | 3.18x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.