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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Net income was −$184M. It held more cash than debt (net cash $217M).
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Research & development | 34.8 | 36.2 | 52.1 | 65.3 | 118 |
| Operating income | −93.9 | −66.3 | −93.9 | −104 | −166 |
| Net interest incomeBanks | −0.4 | 1.5 | 4.7 | – | – |
| Interest expense | – | – | 0.9 | 2.3 | 5.5 |
| Pre-tax income | −94.2 | −56.8 | −95.7 | −109 | −184 |
| Income tax | −1.2 | – | – | – | 0.0 |
| Net income | −93.0 | −56.8 | −95.7 | −109 | −184 |
| Diluted EPS | −3.40 | −1.84 | −2.44 | −1.54 | −2.06 |
| Diluted shares | 27.4 | 30.9 | 39.2 | 70.5 | 89.3 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 134 | 142 | 99.7 | 274 | 258 |
| Current assets | 137 | 146 | 104 | 282 | 419 |
| Goodwill | 19.9 | 19.9 | 19.9 | 19.9 | 19.9 |
| Total assets | 164 | 170 | 125 | 302 | 440 |
| Payables | 4.2 | 2.1 | 4.1 | 2.0 | 5.3 |
| Current liabilities | 10.4 | 17.9 | 32.2 | 38.8 | 66.7 |
| Long-term debt | – | – | 14.1 | 21.9 | 40.6 |
| Total liabilities | 12.3 | 19.1 | 46.4 | 60.7 | 108 |
| Shareholders' equity | 152 | 151 | 78.1 | 241 | 332 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −45.8 | −50.1 | −64.4 | −79.1 | −132 |
| Stock-based compensation | 42.7 | 13.7 | 15.2 | 16.9 | 20.1 |
| Acquisitions | 0.3 | – | – | – | – |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Return on equityBlank when equity is negative | −61.3% | −37.6% | −122.5% | −45.0% | −55.3% |
| ROCEEBIT ÷ (assets − current liabilities) | −61.1% | −43.6% | −101.7% | −39.5% | −44.5% |
| Cash conversion (CFO ÷ net income) | 0.49x | 0.88x | 0.67x | 0.73x | 0.72x |
| Interest cover | – | – | −102x | −45.5x | −30.3x |
| Debt ÷ equity | – | – | 0.18x | 0.09x | 0.12x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | – | −85.6 | −252 | −217 |
| Current ratio | 13.2x | 8.16x | 3.22x | 7.25x | 6.29x |
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.