Revenue: Not disclosed for QQ3 2025 (no reported figure in the quarter). YoY/QoQ revenue data not provided in the supplied dataset.
Operating income: $(114,302,000) in QQ3 2025; YoY change shown as -121.83%, QoQ change +1.24%.
Net income: $(111,122,000) in QQ3 2025; YoY change -116.11%, QoQ change -1.84%.
EBITDA: $(110,871,000); QoQ/YoY not explicitly stated in the dataset.
Earnings per share (EPS): $(0.76); YoY -111.11%, QoQ -2.70%.
R&D expense: $94.52 million; General & Administrative: $19.78 million; Selling, General & Administrative combined: $19.78 million.
Operating expenses: $(114,302,000); Cost and expenses: $(114,302,000).
Cash flow: Net cash provided by operating activities $(100.39) million; Depreciation & amortization $(99,000); Stock-based compensation not disclosed as a separate line here; Free cash flow $(100.57) million.
Balance sheet: Cash and cash equivalents $374.69 million; Total assets $420.93 million; Total liabilities $68.32 million; Total stockholders’ equity $352.62 million; Net debt position: $(374.66) million (net cash).
Liquidity metrics: Current ratio 6.04x; Quick ratio 6.04x; Cash ratio 5.48x; Net cash position supports a meaningful runway given the current burn rate.
Capital structure: No long-term debt reported; total debt reported as $23k; Enterprise value multiple reported as negative, consistent with a net cash position and negative EBITDA.
Cash efficiency: Free cash flow to operating cash flow ratio is negative given the lack of revenue, indicating that operating cash outflows are not offset by operating inflows in the period.
Valuation indicators: Price-to-book around 10.3x; Enterprise value multiple negative; price fair value reported at $10.32 (per the provided data). These imply a biotech stock with zero/low revenue and a large development runway, where valuation hinges on pipeline success and potential future data milestones.