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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Net income was −$27M.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 7.6 | 1.0 | 0.0 | – | – |
| Cost of revenue | 0.2 | 0.1 | 0.0 | 0.0 | 0.0 |
| Gross profit | 7.4 | 0.9 | 0.0 | – | – |
| Research & development | 15.7 | 20.3 | 24.0 | 19.1 | 16.0 |
| Selling, general & admin | 11.3 | 12.6 | 13.9 | 12.4 | 12.3 |
| Operating income | −25.3 | −42.0 | −37.9 | −31.5 | −28.3 |
| Net interest incomeBanks | 0.0 | 0.3 | 0.5 | – | – |
| Pre-tax income | −20.9 | −41.3 | −37.3 | −30.9 | −26.9 |
| Income tax | −0.2 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net income | −20.7 | −41.3 | −37.3 | −30.9 | −26.9 |
| Diluted EPS | −1.34 | −2.13 | −1.34 | −0.50 | −0.25 |
| Diluted shares | 15.5 | 19.4 | 27.8 | 61.2 | 109 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 21.4 | 17.1 | 2.5 | 13.9 | 71.8 |
| Receivables | 0.0 | – | – | – | – |
| Current assets | 23.0 | 17.8 | 3.2 | 16.3 | 75.2 |
| Goodwill | 1.9 | 1.9 | 1.9 | 1.9 | 1.9 |
| Total assets | 26.3 | 20.9 | 6.2 | 19.4 | 78.3 |
| Payables | 2.1 | 3.4 | 5.6 | 3.5 | 2.9 |
| Deferred revenue | 0.0 | – | – | – | – |
| Current liabilities | 5.0 | 15.5 | 13.7 | 9.5 | 7.0 |
| Total liabilities | 5.9 | 16.1 | 14.2 | 10.0 | 7.5 |
| Shareholders' equity | 20.3 | 4.9 | −8.0 | 9.5 | 70.9 |
| Backlog (remaining obligations) | 9.5 | 9.5 | – | – | – |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −26.0 | −23.8 | −31.4 | −35.4 | −28.4 |
| Stock-based compensation | 1.0 | 1.7 | 2.1 | 1.6 | 2.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −86.8% | −100.0% | – | – |
| Gross margin | 97.4% | 90.0% | – | – | – |
| Operating margin | −332.8% | −4195.0% | – | – | – |
| Net margin | −272.4% | −4130.1% | – | – | – |
| Return on equityBlank when equity is negative | −101.7% | −851.4% | – | −326.3% | −37.9% |
| ROCEEBIT ÷ (assets − current liabilities) | −118.8% | −772.8% | 503.8% | −317.6% | −39.6% |
| Cash conversion (CFO ÷ net income) | 1.26x | 0.58x | 0.84x | 1.15x | 1.06x |
| Receivable days | 0 | – | – | – | – |
| Payable days | 3913 | 12253 | – | – | – |
| Current ratio | 4.63x | 1.14x | 0.23x | 1.72x | 10.7x |
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.