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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Net income was −$43M. Operating cash flow of −$42M less capital expenditure of $12,000 left free cash flow of −$42M.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Research & development | 23.0 | 19.8 | 23.7 | 39.4 | 33.5 |
| Operating income | −32.5 | −29.9 | −33.9 | −51.5 | −49.3 |
| Interest expense | 1.2 | 1.2 | 0.4 | 0.0 | 0.0 |
| Pre-tax income | −34.0 | −29.2 | −29.1 | −47.9 | −42.8 |
| Income tax | −0.0 | −0.0 | −0.0 | −0.0 | −0.1 |
| Net income | −33.9 | −29.2 | −29.1 | −47.9 | −42.8 |
| Diluted EPS | −1.49 | −0.45 | −0.29 | −0.47 | −0.32 |
| Diluted shares | 22.8 | 64.5 | 99.0 | 102 | 135 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 36.8 | 12.6 | 32.4 | 34.1 | 18.9 |
| Current assets | 38.0 | 123 | 87.5 | 109 | 192 |
| Net PP&E | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 |
| Total assets | 38.5 | 123 | 89.4 | 111 | 193 |
| Payables | 2.8 | 2.9 | 1.8 | 3.4 | 3.9 |
| Current liabilities | 12.7 | 13.4 | 5.8 | 10.5 | 9.7 |
| Total liabilities | 21.4 | 15.6 | 6.9 | 11.3 | 10.2 |
| Shareholders' equity | 17.1 | 107 | 82.5 | 99.6 | 183 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −28.9 | −28.2 | −31.7 | −38.3 | −42.1 |
| Capital expenditure | – | 0.2 | 0.1 | 0.0 | 0.0 |
| Free cash flow | – | −28.3 | −31.8 | −38.3 | −42.1 |
| Depreciation & amortisation | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 |
| Stock-based compensation | 2.5 | 2.3 | 2.2 | 3.6 | 5.2 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Return on equityBlank when equity is negative | −198.8% | −27.1% | −35.2% | −48.1% | −23.3% |
| ROCEEBIT ÷ (assets − current liabilities) | −126.1% | −27.3% | −40.6% | −51.3% | −26.9% |
| Cash conversion (CFO ÷ net income) | 0.85x | 0.97x | 1.09x | 0.80x | 0.98x |
| Interest cover | −27.0x | −25.7x | −86.8x | −12881x | – |
| Current ratio | 2.98x | 9.15x | 15.0x | 10.4x | 19.7x |
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.