ImageneBio (IMA)


Market Price (8/8/2026): $5.58 | Market Cap: $90.2 MilSector: Health Care | Industry: Biotechnology

ImageneBio (IMA)


Market Price (8/8/2026): $5.58
Market Cap: $90.2 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -146%

Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Advanced Diagnostics, Show more.

Weak multi-year price returns
2Y Excs Rtn is -107%, 3Y Excs Rtn is -134%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -59 Mil

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -62%

Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 59.08

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -146%
1 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Advanced Diagnostics, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -107%, 3Y Excs Rtn is -134%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -59 Mil
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -62%
7 Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 59.08

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/1/2026

ImageneBio (IMA) stock has lost about 5% since 4/30/2026 because of the following key factors:

1. ImageneBio's fiscal Q1 2026 (ended March 31, 2026) financial results, reported on May 7, 2026, missed analyst expectations, leading to a significant stock price decline. The company reported an earnings per share (EPS) of -$0.95, which was $0.25 below the consensus analyst estimate of -$0.70 per share. This announcement contributed to a 10.49% drop in the stock price on May 7, 2026.

2. Persistent negative analyst sentiment and cautious ratings have weighed on the stock. Following the Q1 2026 earnings, Wall Street Zen downgraded ImageneBio from a "sell" to a "strong sell" rating on May 17, 2026, while Wedbush reiterated an "underperform" rating on May 11, 2026, maintaining a $2 price target.

Show more
Updated on 8/1/2026

ImageneBio (IMA) stock has lost about 5% since 4/30/2026 because of the following key factors:

1. ImageneBio's fiscal Q1 2026 (ended March 31, 2026) financial results, reported on May 7, 2026, missed analyst expectations, leading to a significant stock price decline. The company reported an earnings per share (EPS) of -$0.95, which was $0.25 below the consensus analyst estimate of -$0.70 per share. This announcement contributed to a 10.49% drop in the stock price on May 7, 2026.

2. Persistent negative analyst sentiment and cautious ratings have weighed on the stock. Following the Q1 2026 earnings, Wall Street Zen downgraded ImageneBio from a "sell" to a "strong sell" rating on May 17, 2026, while Wedbush reiterated an "underperform" rating on May 11, 2026, maintaining a $2 price target.

3. Concerns regarding the commercial viability and competitive landscape for its lead program, IMG-007, have contributed to investor apprehension. Although ImageneBio provided an update on the IMG-007 program alongside its Q1 2026 results, including plans to initiate a Phase 2 study in alopecia areata in 2026 with initial data expected in 2028, some analysts highlighted challenges such as competition from other OX40/OX40L candidates, a late entry into the atopic dermatitis market, and the potential for unfavorable placebo-adjusted results in ongoing trials.

4. The company continues to report increased operational costs and net losses, raising concerns about its financial trajectory. ImageneBio's net loss for fiscal Q1 2026 was $10.6 million, an increase from $9.1 million in the same period of the prior year, reflecting ongoing investments in clinical trials and personnel expenses.

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Stock Movement Drivers

Fundamental Drivers

The -5.5% change in IMA stock from 4/30/2026 to 8/7/2026 was primarily driven by a -82.4% change in the company's P/S Multiple.
(LTM values as of)43020268072026Change
Stock Price ($)6.025.69-5.5%
Change Contribution By: 
Total Revenues ($ Mil)14437.5%
P/S Multiple84.114.8-82.4%
Shares Outstanding (Mil)11110.0%
Cumulative Contribution-5.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/7/2026
ReturnCorrelation
IMA-5.5% 
Market (SPY)7.6%26.9%
Sector (XLV)13.5%3.6%

Fundamental Drivers

The -24.2% change in IMA stock from 1/31/2026 to 8/7/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)13120268072026Change
Stock Price ($)7.515.69-24.2%
Change Contribution By: 
Total Revenues ($ Mil)40.0%
P/S Multiple14.80.0%
Shares Outstanding (Mil)11110.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/7/2026
ReturnCorrelation
IMA-24.2% 
Market (SPY)12.1%27.5%
Sector (XLV)7.5%8.1%

Fundamental Drivers

The -68.2% change in IMA stock from 7/31/2025 to 8/7/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)73120258072026Change
Stock Price ($)17.905.69-68.2%
Change Contribution By: 
Total Revenues ($ Mil)40.0%
P/S Multiple14.80.0%
Shares Outstanding (Mil)11110.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/7/2026
ReturnCorrelation
IMA-68.2% 
Market (SPY)23.4%16.5%
Sector (XLV)28.7%9.7%

Fundamental Drivers

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Market Drivers

7/31/2023 to 8/7/2026
ReturnCorrelation
IMA  
Market (SPY)74.9%16.2%
Sector (XLV)29.3%7.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
IMA Return-----54%-18%-62%
Peers Return-30%-55%22%-16%52%11%-46%
S&P 500 Return27%-19%24%23%16%13%105%

Monthly Win Rates [3]
IMA Win Rate----33%50% 
Peers Win Rate39%31%48%39%53%55% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
IMA Max Drawdown------39% 
Peers Max Drawdown-52%-65%-59%-48%-48%-37% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: TEM, GH, ILMN, RXRX, SDGR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)

How Low Can It Go

IMA has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

EventXLVS&P 500
2025 US Tariff Shock
  % Loss-11.7%-18.8%
  % Gain to Breakeven13.3%23.1%
  Time to Breakeven142 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-13.8%-24.5%
  % Gain to Breakeven15.9%32.4%
  Time to Breakeven166 days427 days
2020 COVID-19 Crash
  % Loss-27.9%-33.7%
  % Gain to Breakeven38.8%50.9%
  Time to Breakeven77 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-15.0%-19.2%
  % Gain to Breakeven17.6%23.8%
  Time to Breakeven191 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-15.9%-12.2%
  % Gain to Breakeven18.9%13.9%
  Time to Breakeven165 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-15.8%-17.9%
  % Gain to Breakeven18.8%21.8%
  Time to Breakeven153 days123 days

Compare to TEM, GH, ILMN, RXRX, SDGR

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

IMA has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

EventXLVS&P 500
2020 COVID-19 Crash
  % Loss-27.9%-33.7%
  % Gain to Breakeven38.8%50.9%
  Time to Breakeven77 days140 days
2008-2009 Global Financial Crisis
  % Loss-37.9%-53.4%
  % Gain to Breakeven61.1%114.4%
  Time to Breakeven767 days1085 days

Compare to TEM, GH, ILMN, RXRX, SDGR

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About ImageneBio (IMA)

ImageneBio (IMA) operates as a professional diagnostic company, providing a comprehensive range of products and services across three primary healthcare segments: infectious disease, cardiometabolic conditions, and toxicology. In the infectious disease arena, the company develops and markets diagnostic tests for a wide array of illnesses, including viral hepatitis, influenza, tuberculosis, HIV/AIDS, and various gastrointestinal and sexually-transmitted diseases. Its offerings in this area encompass indirect fluorescent antibodies, serology diagnostics, enzyme-linked immunosorbent assays (ELISA), and automated instrumentation to facilitate these testing procedures.

The company's cardiometabolic division focuses on rapid diagnostic test systems for critical care, point-of-care analyzers for monitoring blood glucose, cholesterol, and related lipids, as well as over-the-counter cholesterol tests. It also provides blood analysis systems for measuring blood gas, electrolytes, and metabolites, alongside disposable and lateral flow rapid tests for markers like D-dimer and troponin. Furthermore, ImageneBio addresses the toxicology market with device platforms for detecting illicit and prescription drugs of abuse, alcohol tests, consumer drug testing solutions, and comprehensive workplace drug and laboratory-based testing services.

ImageneBio serves a diverse customer base through multiple channels. Its professional diagnostic products are marketed globally to healthcare professionals and institutions via its dedicated sales force and established distribution networks. For consumer-oriented products, such as its "First Check" brand for drug testing, the company leverages retail drug and food stores, drug wholesalers, and mass merchandisers, reaching individual consumers and employers seeking accessible diagnostic and monitoring tools.

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ImageneBio (IMA) Management Team:

Kristin Yarema, Ph.D. Chief Executive Officer and Interim Principal Financial Officer

Dr. Yarema brings over two decades of leadership experience in therapeutics. Her most recent role was Chief Executive Officer and Director of Poseida Therapeutics, which was acquired by Roche in January 2025, and she stayed to guide the transition. She previously served as President, Cell Therapy at Poseida and Chief Commercial Officer at Atara Biotherapeutics. Dr. Yarema also held various senior positions at Amgen, including Vice President and Therapeutic Area Head roles in inflammation, as well as commercial leadership. Earlier in her career, she held clinical development, portfolio, and global commercial leadership roles at Novartis and was an Associate Principal at McKinsey & Company.

Dr. Ben Porter-Brown Chief Medical Officer

Dr. Porter-Brown was appointed Chief Medical Officer effective February 16, 2026, bringing over 20 years of clinical development experience in autoimmune and inflammatory diseases. He previously served as Chief Medical Officer at MoonLake Immunotherapeutics. Prior to that, he led the development of amlitelimab, an anti-OX40 ligand monoclonal antibody, at Kymab, Ltd (now part of Sanofi) and held various leadership positions at Roche Pharmaceuticals for 16 years.

Kurinji Pandiyan, Ph.D. Chief Strategy and Operations Officer

Dr. Pandiyan joined ImageneBio in September 2025. She previously served as Head of Portfolio & Strategy and Chief of Staff to the CEO at Poseida Therapeutics, where she also led autoimmune disease development planning. Her past experience includes leadership roles at Atara Biotherapeutics and AVITA Medical, as well as a principal role at Boston Consulting Group (BCG).

Renuka Sivendran, Ph.D. Chief Technical Officer

Dr. Sivendran joined ImageneBio in September 2025. She previously led all CMC (Chemistry, Manufacturing, and Controls) functions as Vice President of Technical Operations at Agenus, Inc. from January 2021. Her background also includes leadership positions at Five Prime Therapeutics (acquired by Amgen), Amgen, and Regeneron.

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ImageneBio (IMA), a clinical-stage biotechnology company, is primarily focused on developing therapeutics for immunological, autoimmune, and inflammatory diseases. The company's future revenue growth over the next 2-3 years will largely be driven by the advancement and potential commercialization of its lead product candidate, IMG-007. Here are 3-5 expected drivers of future revenue growth for ImageneBio:
  • Successful Clinical Development and Regulatory Approval of IMG-007: The most significant driver of future revenue growth hinges on the successful completion of clinical trials for IMG-007, particularly the ongoing Phase 2b ADAPTIVE trial in moderate-to-severe atopic dermatitis (AD). Topline data from this trial is anticipated in 2027. Positive results and subsequent regulatory approval would pave the way for commercialization, generating substantial revenue for the company.
  • Expansion of IMG-007 to Additional Therapeutic Indications: ImageneBio is developing IMG-007 as a treatment for a range of immunological, autoimmune, and inflammatory conditions. Beyond atopic dermatitis, IMG-007 has completed Phase 1b/2a clinical trials for alopecia areata. Successfully expanding the use of IMG-007 to other dermatology and inflammatory conditions could significantly broaden its market reach and revenue potential.
  • Differentiated Profile and Patient Adoption of IMG-007: IMG-007 is highlighted as a receptor-targeting, non-depleting anti-OX40 monoclonal antibody with a differentiated clinical profile and multiple distinguishing features. Notably, it aims to avoid the severe T cell depletion associated with other ADCC-enhanced anti-OX40 antibodies. If these differentiating features translate into a superior safety, efficacy, or dosing profile (such as an approximately five-week half-life supporting less frequent dosing), it could lead to strong market adoption and drive revenue once approved.

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

IMATEMGHILMNRXRXSDGRMedian
NameImageneB.Tempus AIGuardant.Illumina Recursio.Schrodin. 
Mkt Price5.6952.05168.48187.963.2218.1635.10
Mkt Cap0.19.422.428.41.71.45.5
Rev LTM01,4321,1834,49354259721
Op Inc LTM-59-283-470892-544-153-218
FCF LTM-53-273-241931-354-130-185
FCF 3Y Avg--223-271773-365-100-223
CFO LTM-53-237-1851,095-350-127-156
CFO 3Y Avg--194-235923-355-93-194

Growth & Margins

IMATEMGHILMNRXRXSDGRMedian
NameImageneB.Tempus AIGuardant.Illumina Recursio.Schrodin. 
Rev Chg LTM-100.0%50.4%42.7%4.9%-16.4%8.9%6.9%
Rev Chg 3Y Avg-50.5%32.6%0.3%4.6%10.3%10.3%
Rev Chg Q-21.6%44.3%9.4%-61.8%7.5%9.4%
QoQ Delta Rev Chg LTM-5.0%9.5%2.3%-18.0%1.6%2.3%
Op Inc Chg LTM-173.8%-20.6%-2.1%8.3%16.3%20.5%3.1%
Op Inc Chg 3Y Avg--58.9%4.6%675.4%-30.6%1.0%1.0%
Op Mgn LTM--19.8%-39.7%19.9%-1,008.6%-59.2%-39.7%
Op Mgn 3Y Avg--53.1%-58.3%13.4%-942.9%-81.0%-58.3%
QoQ Delta Op Mgn LTM--0.1%1.7%0.3%-118.3%5.4%0.3%
CFO/Rev LTM--16.6%-15.7%24.4%-649.8%-49.0%-16.6%
CFO/Rev 3Y Avg--23.7%-29.3%21.0%-641.8%-42.4%-29.3%
FCF/Rev LTM--19.1%-20.3%20.7%-656.8%-50.3%-20.3%
FCF/Rev 3Y Avg--27.1%-33.2%17.6%-660.7%-45.4%-33.2%

Valuation

IMATEMGHILMNRXRXSDGRMedian
NameImageneB.Tempus AIGuardant.Illumina Recursio.Schrodin. 
Mkt Cap0.19.422.428.41.71.45.5
P/S-6.518.96.331.85.26.5
P/Op Inc-1.6-33.1-47.631.8-3.2-8.8-6.0
P/EBIT-1.6-47.5-49.825.5-3.3-8.8-6.1
P/E-1.8-36.8-49.434.4-3.3-25.0-14.1
P/CFO-1.7-39.4-120.925.9-4.9-10.7-7.8
Total Yield-57.1%-2.7%-2.0%2.9%-30.3%-4.0%-3.4%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg--4.8%-4.6%4.2%-18.6%-7.6%-4.8%
D/E0.00.20.10.10.00.10.1
Net D/E-1.50.10.00.0-0.3-0.2-0.1

Returns

IMATEMGHILMNRXRXSDGRMedian
NameImageneB.Tempus AIGuardant.Illumina Recursio.Schrodin. 
1M Rtn-4.0%-9.1%7.9%0.1%-13.4%12.9%-1.9%
3M Rtn7.6%4.4%76.1%32.5%-3.0%38.3%20.0%
6M Rtn-17.7%-5.2%65.4%57.0%-19.1%34.6%14.7%
12M Rtn-61.3%-11.4%234.4%96.8%-40.5%-6.2%-8.8%
3Y Rtn-61.8%29.3%357.3%3.9%-72.1%-52.8%-24.5%
1M Excs Rtn-6.4%-18.2%-0.2%-5.8%-17.2%5.3%-6.1%
3M Excs Rtn-9.5%-0.5%76.9%29.8%-7.3%31.0%14.6%
6M Excs Rtn-32.9%-14.9%57.2%26.6%-23.7%26.2%5.7%
12M Excs Rtn-86.1%-28.5%255.6%76.8%-63.5%-28.4%-28.4%
3Y Excs Rtn-133.6%-42.6%294.3%-69.9%-147.4%-135.7%-101.7%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil202520242023
Single Segment148
Total148


Price Behavior

Price Behavior
Market Price$5.69 
Market Cap ($ Bil)0.1 
First Trading Date12/29/2006 
Distance from 52W High-61.5% 
   50 Days200 Days
DMA Price$13.76$15.84
DMA Trenddownindeterminate
Distance from DMA-58.6%-64.1%
 3M1YR
Volatility51.5%71.4%
Downside Capture123.99160.40
Upside Capture130.3914.52
Correlation (SPY)25.1%16.8%
IMA Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta2.340.851.091.150.85-0.28
Up Beta3.061.811.740.700.190.40
Down Beta3.510.540.881.601.570.76
Up Capture131%49%64%69%0%1%
Bmk +ve Days11223567138427
Stock +ve Days1118305598101
Down Capture219%85%122%141%128%76%
Bmk -ve Days11212859114326
Stock -ve Days11243266147150

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IMA
IMA-64.0%71.6%-1.09-
Sector ETF (XLV)28.7%15.5%1.429.7%
Equity (SPY)23.3%12.8%1.3617.1%
Gold (GLD)28.5%28.4%0.874.6%
Commodities (DBC)32.9%19.8%1.320.5%
Real Estate (VNQ)14.2%13.8%0.722.3%
Bitcoin (BTCUSD)-44.2%42.9%-1.2318.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IMA
IMA-17.5%73.8%-0.91-
Sector ETF (XLV)6.2%15.0%0.237.6%
Equity (SPY)13.5%17.2%0.6116.2%
Gold (GLD)18.6%18.6%0.813.6%
Commodities (DBC)8.2%19.6%0.31-1.5%
Real Estate (VNQ)2.3%18.9%0.02-0.5%
Bitcoin (BTCUSD)8.8%53.0%0.3515.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IMA
IMA-9.2%73.8%-0.91-
Sector ETF (XLV)10.1%16.6%0.497.6%
Equity (SPY)15.4%17.9%0.7316.2%
Gold (GLD)12.1%16.2%0.613.6%
Commodities (DBC)7.4%18.0%0.33-1.5%
Real Estate (VNQ)4.8%20.7%0.20-0.5%
Bitcoin (BTCUSD)58.2%66.2%0.9815.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity0.4 Mil
Short Interest: % Change Since 6302026-2.6%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest59.1 days
Basic Shares Quantity16.2 Mil
Short % of Basic Shares2.4%

Earnings Returns History

Updated 8/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20260.7%  
5/7/2026-10.5%0.0%-4.7%
3/10/20262.5%4.7%-22.8%
11/12/2025-0.7%-11.4%-24.5%
SUMMARY STATS   
# Positive220
# Negative213
Median Positive1.6%2.4% 
Median Negative-5.6%-11.4%-22.8%
Max Positive2.5%4.7% 
Max Negative-10.5%-11.4%-24.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20260.7%  
5/7/2026-10.5%0.0%-4.7%
3/10/20262.5%4.7%-22.8%
11/12/2025-0.7%-11.4%-24.5%
SUMMARY STATS   
# Positive220
# Negative213
Median Positive1.6%2.4% 
Median Negative-5.6%-11.4%-22.8%
Max Positive2.5%4.7% 
Max Negative-10.5%-11.4%-24.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/07/202610-Q
12/31/202503/10/202610-K
09/30/202511/12/202510-Q
12/31/202403/18/2025S-4
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/07/202610-Q
12/31/202503/10/202610-K
09/30/202511/12/202510-Q
12/31/202403/18/2025S-4

Recent Forward Guidance

Updated 8/6/2026

Latest: Q2 2026 Earnings Reported 8/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2028 Operational Funding Runway      

Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2028 Cash Runway      

Q4 2025 Earnings Reported 3/10/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2027 ADAPTIVE trial topline readout 2,027   AffirmedGuidance: 2,027 for 2027

Insider Activity

Updated 7/28/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lally, Robert BPrincipal Accounting OfficerDirectSell72020265.341,5258,144296,808Form
2Lally, Robert BPrincipal Accounting OfficerDirectSell72020265.501,6719,190314,088Form
3Slattery, Joseph PDirectBuy122920255.9916,00095,84095,840Form
4Bonita, David PSee FootnoteBuy730202529.9083,6112,499,9698,607,762Form
5Stampacchia, OtelloOmega Fund VI, L.P.Buy730202529.90267,5567,999,92413,603,962Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lally, Robert BPrincipal Accounting OfficerDirectSell72020265.341,5258,144296,808Form
2Lally, Robert BPrincipal Accounting OfficerDirectSell72020265.501,6719,190314,088Form
3Slattery, Joseph PDirectBuy122920255.9916,00095,84095,840Form
4Bonita, David PSee FootnoteBuy730202529.9083,6112,499,9698,607,762Form
5Stampacchia, OtelloOmega Fund VI, L.P.Buy730202529.90267,5567,999,92413,603,962Form

Investor Activity (13F)

Updated Aug 8, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
BVF Inc/Il$5.6 Mil0.2%41ADD +38.4%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
BVF Inc/Il$5.6 Mil0.2%41ADD +38.4%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
BVF Inc/Il$5.6 Mil0.2%41ADD +38.4%13F
Core Cache Last Updated: 8/7/2026