VBIO Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About VBIO Interactive Breakdown Better Bets vs. VBIO Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Valion Bio (VBIO)

    Market Price (10/17/2026): $1.14 | Market Cap: $0.2 MilSector: Health Care | Industry: Biotechnology

    Valion Bio (VBIO)

    Market Price (10/17/2026): $1.14
    Market Cap: $0.2 Mil
    Sector: Health Care
    Industry: Biotechnology

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

    0

    Strong revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 67%

    Megatrend and thematic drivers
    Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Biopharmaceutical R&D, Gene Editing & Therapy, Show more.

    Weak multi-year price returns
    2Y Excs Rtn is -105%, 3Y Excs Rtn is -174%

    Very low revenue
    Rev LTMTotal Revenue or Sales, Last Twelve Months is -0.2 Mil

    Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -17 Mil

    Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 9673%

    Weak revenue growth
    Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -32%

    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 -11857%

    High stock price volatility
    Vol 12M is 623%

    Significant short interest
    Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 65%

    Key risks
    VBIO key risks include [1] the failure to obtain regulatory approval for its flagship drug Entolimod and [2] the inability to secure the critical U.S. Show more.

    0 Strong revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 67%
    1 Megatrend and thematic drivers
    Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Biopharmaceutical R&D, Gene Editing & Therapy, Show more.
    2 Weak multi-year price returns
    2Y Excs Rtn is -105%, 3Y Excs Rtn is -174%
    3 Very low revenue
    Rev LTMTotal Revenue or Sales, Last Twelve Months is -0.2 Mil
    4 Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -17 Mil
    5 Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 9673%
    6 Weak revenue growth
    Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -32%
    7 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 -11857%
    8 High stock price volatility
    Vol 12M is 623%
    9 Significant short interest
    Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 65%
    10 Key risks
    VBIO key risks include [1] the failure to obtain regulatory approval for its flagship drug Entolimod and [2] the inability to secure the critical U.S. Show more.

    Valuation & Metrics

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    AI Analysis | Feedback

    MetricValueDateSource
    Cumulative Development Investment in EntolimodOver $140 million4282026Link
    Non-dilutive U.S. Government Funding for Entolimod ProgramApproximately $35.6 million4282026Link
    Number of Employees523252026Link
    Manufacturing Scale-Up of Entolimod200-fold using 50-liter fermentation4272026Link

    Price Chart

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    Upcoming
    11/13/2026Earnings ReleaseRev: $0.0 Mil (E)
    EPS: $-408.00 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 10/16/2026

    Valion Bio (VBIO) stock has gained about 125% since 6/30/2026 because of the following key factors:

    1. Significant Q2 2026 Earnings Beat. Valion Bio reported its fiscal Q2 2026 earnings on August 14, 2026, with an Earnings Per Share (EPS) of -$54.25, substantially exceeding the analyst consensus estimate of -$10,200. This represented a 99.5% earnings surprise, indicating much stronger-than-expected quarterly results for the period ending June 30, 2026.

    2. Regained Nasdaq Compliance via Reverse Stock Split. Valion Bio successfully regained compliance with Nasdaq's $1.00 minimum bid price requirement by late September 2026. This was facilitated by a 1-for-25 reverse stock split that became effective on August 31, 2026. Regaining compliance removed the immediate threat of delisting and stabilized the company's listing status, enhancing investor confidence and market visibility.

    Show more
    Updated on 10/16/2026

    Valion Bio (VBIO) stock has gained about 125% since 6/30/2026 because of the following key factors:

    1. Significant Q2 2026 Earnings Beat. Valion Bio reported its fiscal Q2 2026 earnings on August 14, 2026, with an Earnings Per Share (EPS) of -$54.25, substantially exceeding the analyst consensus estimate of -$10,200. This represented a 99.5% earnings surprise, indicating much stronger-than-expected quarterly results for the period ending June 30, 2026.

    2. Regained Nasdaq Compliance via Reverse Stock Split. Valion Bio successfully regained compliance with Nasdaq's $1.00 minimum bid price requirement by late September 2026. This was facilitated by a 1-for-25 reverse stock split that became effective on August 31, 2026. Regaining compliance removed the immediate threat of delisting and stabilized the company's listing status, enhancing investor confidence and market visibility.

    3. Positive Clinical and Product Development News for Entolimod. Throughout the period, Valion Bio announced several advancements for its lead drug candidate, Entolimod. On July 22, 2026, the Ukraine Ministry of Health accepted Entolimod's regulatory dossier for review, with a potential decision in fiscal Q4 2026 that could open pathways for national registration and government procurement. Furthermore, the company announced U.S. government-funded Entolimod studies on August 17, 2026. In late September 2026, Valion Bio successfully formulated an oral mucosal Entolimod, which offers a potential needle-free delivery method, broadening its long-term market opportunity.

    4. Strengthened Leadership and Strategic Alignment. In late September 2026, Valion Bio underwent a leadership restructuring, with Dean Zikria appointed as interim CEO and Thomas Jensen named board chair. The board was also enhanced with two new directors possessing capital markets and oncology/biotech experience. These leadership changes signaled a reinforced strategic direction and a focus on capital access and clinical credibility, which positively influenced investor sentiment.

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    Stock Movement Drivers

    Fundamental Drivers

    The 125.0% change in VBIO stock from 6/30/2026 to 10/16/2026 was primarily driven by a 163.8% change in the company's P/S Multiple.
    (LTM values as of)630202610162026Change
    Stock Price ($)0.521.17125.0%
    Change Contribution By: 
    Total Revenues ($ Mil)-0-00.0%
    P/S Multiple-0.4-1.0163.8%
    Shares Outstanding (Mil)00-14.7%
    Cumulative Contribution125.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2026 to 10/16/2026
    ReturnCorrelation
    VBIO125.0% 
    Market (SPY)2.2%-5.2%
    Sector (XLV)11.4%-6.1%

    Fundamental Drivers

    The 32.1% change in VBIO stock from 3/31/2026 to 10/16/2026 was primarily driven by a 76.8% change in the company's P/S Multiple.
    (LTM values as of)331202610162026Change
    Stock Price ($)0.891.1732.1%
    Change Contribution By: 
    Total Revenues ($ Mil)-0-00.0%
    P/S Multiple-0.6-1.076.8%
    Shares Outstanding (Mil)00-25.3%
    Cumulative Contribution32.1%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 10/16/2026
    ReturnCorrelation
    VBIO32.1% 
    Market (SPY)17.7%-4.3%
    Sector (XLV)21.1%-3.7%

    Fundamental Drivers

    The -59.5% change in VBIO stock from 9/30/2025 to 10/16/2026 was primarily driven by a -73.9% change in the company's Shares Outstanding (Mil).
    (LTM values as of)930202510162026Change
    Stock Price ($)2.891.17-59.5%
    Change Contribution By: 
    Total Revenues ($ Mil)-0-0-67.1%
    P/S Multiple-0.2-1.0371.8%
    Shares Outstanding (Mil)00-73.9%
    Cumulative Contribution-59.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2025 to 10/16/2026
    ReturnCorrelation
    VBIO-59.5% 
    Market (SPY)15.5%0.2%
    Sector (XLV)28.6%-1.9%

    Fundamental Drivers

    The -96.0% change in VBIO stock from 9/30/2023 to 10/16/2026 was primarily driven by a -7124.0% change in the company's P/S Multiple.
    (LTM values as of)930202310162026Change
    Stock Price ($)29.411.17-96.0%
    Change Contribution By: 
    Total Revenues ($ Mil)1-0-111.0%
    P/S Multiple0.0-1.0-7124.0%
    Shares Outstanding (Mil)00-99.5%
    Cumulative Contribution-96.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2023 to 10/16/2026
    ReturnCorrelation
    VBIO-96.0% 
    Market (SPY)84.7%3.9%
    Sector (XLV)43.7%2.6%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    VBIO Return-25%-84%-97%-81%-75%-15%-100%
    Peers Return-36%-48%-39%-19%-20%-29%-91%
    S&P 500 Return27%-19%24%23%16%14%108%

    Monthly Win Rates [3]
    VBIO Win Rate50%42%17%33%25%30% 
    Peers Win Rate37%33%42%38%45%42% 
    S&P 500 Win Rate75%42%67%75%67%50% 

    Max Drawdowns [4]
    VBIO Max Drawdown--85%-99%-89%-89%-69% 
    Peers Max Drawdown-63%-67%-71%-68%-64%-52% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: AMGN, XFOR, CHRS, TNXP, BYSI.
    [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 10/16/2026 (YTD)

    How Low Can It Go

    EventVBIOS&P 500
    2024 Yen Carry Trade Unwind
      % Loss-17.1%-7.8%
      % Gain to Breakeven20.6%8.5%
      Time to Breakeven11 days18 days

    Compare to AMGN, XFOR, CHRS, TNXP, BYSI

    In The Past

    Valion Bio's stock fell -17.1% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 20.6% 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.

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    Compare to AMGN, XFOR, CHRS, TNXP, BYSI

    In The Past

    Valion Bio's stock fell -17.1% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 20.6% 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 Valion Bio (VBIO)

    Valion Bio, trading under the symbol VBIO, operates as Tivic Health Systems Inc., a bioelectronic device company. Its core business revolves around the development and delivery of non-invasive neuromodulation products, specifically designed for the treatment of various inflammatory conditions.

    The company's primary product is ClearUP, a medical device engineered to provide relief from sinus and nasal inflammation. This innovative device represents Tivic Health Systems' main offering, targeting a common health concern with its unique bioelectronic approach.

    Tivic Health Systems serves its customers through a direct-to-consumer sales model via its own websites, as well as prominent online retail platforms such as Amazon.com and Walmart.com. Furthermore, the company expands its reach by selling to U.S. online retailers including BestBuy.com and FSAStore.com, catering to a broad market of individuals seeking relief from inflammatory conditions.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    • ClearUP: A medical device designed to relieve sinus and nasal inflammation.

    AI Analysis | Feedback

    Major Customers of Tivic Health Systems Inc. (VBIO)

    Based on the provided company description, Tivic Health Systems Inc. (trading as VBIO) sells its products through a combination of channels, including direct-to-consumer sales and sales to other companies (online retailers and platforms). Its major customers include:

    • Amazon.com (Symbol: AMZN)
    • Walmart.com (Symbol: WMT)
    • BestBuy.com (Symbol: BBY)
    • FSAStore.com

    Additionally, the company serves individual consumers directly through its own websites, representing a significant direct-to-consumer customer category.

    AI Analysis | Feedback

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    Valion Bio (symbol: VBIO) is the new corporate identity of Tivic Health Systems, Inc., effective April 28, 2026. The company rebranded to reflect its strategic transformation from a consumer medical device business to a late-stage biopharmaceutical platform.

    Michael K. Handley, Chief Executive Officer
    Michael K. Handley became the CEO of Tivic Health Systems Inc. (now Valion Bio Inc.) on March 4, 2026. He joined the company in 2025 as Chief Operating Officer and President of Tivic Health's Biopharma division. Previously, he served as Chief Executive Officer, President & Chairman of the public company Statera Biopharma. Handley has held senior management roles at various life science companies, including Armis Biopharma, Vessix Vascular, Inc. (acquired by Boston Scientific), and Acclarent (acquired by Johnson & Johnson). He began his career as a research scientist at Amgen, where he developed patents and was published, later transitioning to a management consultant role in the healthcare industry. He has been instrumental in the US approval and commercialization of seventeen products, generating billions of dollars in revenue.

    Lisa Wolf, Chief Financial Officer
    Lisa Wolf was appointed permanent Chief Financial Officer of Tivic Health Systems Inc. (now Valion Bio Inc.) on July 7, 2025, after serving as Interim CFO since October 1, 2024. She brings over 30 years of financial leadership experience from both public and private companies across various industries, including life sciences and technology. Most recently, Wolf served as Vice President at Murdock Martell, a consulting firm. She previously held the position of Chief Accounting Officer at Nasdaq-listed Resonant, Inc., where she played a key role in the company's growth and eventual sale to Murata Electronics North America. Wolf earned her CPA while working at Arthur Andersen.

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    Key Risks to Valion Bio (VBIO):

    1. Dependence on Government Procurement and Regulatory Approval for Entolimod (Acute Radiation Syndrome): Valion Bio's flagship drug candidate, Entolimod, a TLR5 agonist for Acute Radiation Syndrome (ARS), is being developed under the FDA's Animal Rule pathway, which permits approval based on animal efficacy data when human trials are not feasible. A significant portion of the company's future revenue hinges on securing a substantial procurement contract for Entolimod with the U.S. Strategic National Stockpile, a potential nine-figure revenue event. Consequently, the failure to obtain timely regulatory approvals or to finalize the anticipated government procurement agreement represents a critical business risk.
    2. Clinical Development and Commercialization Risks for Oncology Pipeline: Beyond ARS, Valion Bio is advancing Entolimod for oncology supportive care, specifically chemotherapy-induced neutropenia, with physician-sponsored clinical trials targeted for 2026. The company is also developing Entolasta, a next-generation TLR5 agonist. These programs are subject to the inherent uncertainties of the biopharmaceutical industry, including the risk of clinical trial failures, regulatory hurdles for market approval, and challenges in effectively commercializing new products in a competitive therapeutic landscape.
    3. Need for Additional Capital and Maintaining Nasdaq Listing: As a biopharmaceutical company with late-stage development programs, Valion Bio has an ongoing requirement for additional working capital to fund its research, development, and operational expenses. The ability to secure this necessary capital is crucial for the company's continued progress. Furthermore, there is an inherent risk related to the company's capacity to maintain its listing on the Nasdaq exchange, which is vital for liquidity, investor confidence, and access to capital markets.

    AI Analysis | Feedback

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    Valion Bio (formerly Tivic Health Systems Inc.), trading under the symbol VBIO, is undergoing a strategic transformation into a late-stage biopharmaceutical company. Its future revenue growth over the next 2-3 years is expected to be driven by several key initiatives:
    1. Government Procurement of Entolimod for Acute Radiation Syndrome (ARS): Valion Bio's lead drug candidate, Entolimod, a novel Toll-like receptor 5 (TLR5) agonist, is being advanced as a medical countermeasure for Acute Radiation Syndrome (ARS) under the FDA's Animal Rule pathway. The company is actively engaging with government agencies, including BARDA, DTRA, and NIAID, for Entolimod's potential inclusion in the U.S. Strategic National Stockpile. A successful procurement contract could result in a significant, potentially nine-figure, non-dilutive revenue event.
    2. Expansion of Entolimod into Oncology Supportive Care: Beyond its application in ARS, Entolimod's mechanism of action, which involves cytoprotection of bone marrow and gastrointestinal epithelial tissue, positions it for parallel development in oncology supportive care. Valion Bio plans to initiate physician-sponsored clinical trials in 2026 for chemotherapy-induced neutropenia, with the goal of achieving Phase IIb readiness. This represents a potential entry into a large commercial market.
    3. Growth of CDMO Services through Velocity Bioworks: The company's wholly-owned subsidiary, Velocity Bioworks, acquired in December 2025, is a full-service contract development and manufacturing organization (CDMO). Velocity Bioworks is expected to build an independent revenue base by providing biomanufacturing services to third-party biotech companies. This diversified revenue stream also provides crucial domestic manufacturing capabilities and supply chain security for Entolimod.
    4. Development of Next-Generation TLR5 Agonist, Entolasta: Valion Bio's pipeline includes Entolasta, a next-generation TLR5 agonist designed for broader therapeutic applications. Entolasta offers additional pipeline depth and intellectual property extension across both ARS and oncology supportive care indications, suggesting future revenue potential as it progresses through development.

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    Inbound Investments

    • Valion Bio's lead drug candidate, Entolimod, has received over $140 million in cumulative development investment over 15 years, anchoring the company's biopharmaceutical platform.
    • The company is actively pursuing a non-dilutive, potentially nine-figure procurement contract with U.S. government agencies for Entolimod's inclusion in the U.S. Strategic National Stockpile.

    Outbound Investments

    • In December 2025, Valion Bio acquired Velocity Bioworks, a wholly-owned CDMO (Contract Development and Manufacturing Organization) subsidiary, for approximately $16.3 million.

    Capital Expenditures

    • The acquisition of Velocity Bioworks for $16.3 million in December 2025 represents a significant investment in establishing domestic biomanufacturing capabilities for its drug pipeline.
    • Valion Bio plans physician-sponsored clinical trials in chemotherapy-induced neutropenia in 2026, indicating ongoing substantial investment in research and development.
    • The company leverages Velocity Bioworks' manufacturing capabilities to enhance its drug pipeline, aiming for lower costs, accelerated manufacturing outcomes, and secure supply chains.

    Peer Outperformance in Biotechnology

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    Share of Biotechnology constituents that VBIO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    27%
    of 452 industry peers · -60.3% return
    3Y
    13%
    of 398 industry peers · -95.4% return
    5Y
    —
    insufficient peer history
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    Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is VBIO's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Health Care Distributors 6 18.8%53.8%105.7% CAH 479% · MCK 404% · COR 200%
    Health Care Services 20 18.3%32.4%12.4% HIMS 236% · RDNT 139% · DGX 82%
    Managed Health Care 8 38.5%-3.7%4.3% OSCR 101% · HQY 46% · ELV 17%
    Health Care Facilities 24 4.7%7.0%2.4% THC 320% · NHC 284% · EHC 149%
    Health Care Equipment 50 -3.9%3.8%-12.4% UFPT 357% · GKOS 268% · TMDX 167%
    Pharmaceuticals 61 -11.7%-2.5%-35.0% LQDA 973% · KNSA 586% · LLY 453%
    Health Care Supplies 12 27.7%-4.2%-35.1% LNTH 329% · HAE 69% · MMSI 28%
    Life Sciences Tools & Services 108 -16.3%-17.6%-67.4% NTRA 255% · MEDP 231% · GH 56%
    Biotechnology ← 363 -28.0%-32.0%-81.8% DNTH 971% · ELVN 920% · ADMA 871%
    Health Care Technology 22 -37.1%-63.0%-83.8% VEEV 0% · DOCS -56%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

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    Peer Comparisons

    Peers to compare with:

    Financials

    VBIOAMGNXFORCHRSTNXPBYSIMedian
    NameValion B.Amgen X4 Pharm.Coherus .Tonix Ph.BeyondSp. 
    Mkt Price1.14431.152.581.016.080.551.86
    Mkt Cap0.0232.80.30.20.10.00.1
    Rev LTM-038,095165129022
    Op Inc LTM-1711,426-88-159-164-8-52
    FCF LTM-1510,175-84-186-157-17-50
    FCF 3Y Avg-98,754-105-115-100-20-60
    CFO LTM-1512,478-84-186-153-17-50
    CFO 3Y Avg-910,312-102-115-97-19-58

    Growth & Margins

    VBIOAMGNXFORCHRSTNXPBYSIMedian
    NameValion B.Amgen X4 Pharm.Coherus .Tonix Ph.BeyondSp. 
    Rev Chg LTM67.1%9.1%-51.6%61.0%196.0%-61.0%
    Rev Chg 3Y Avg-32.4%12.8%--7.7%---7.7%
    Rev Chg Q-9.5%346.3%39.5%577.9%-192.9%
    QoQ Delta Rev Chg LTM0.0%2.4%75.8%8.6%65.8%-8.6%
    Op Inc Chg LTM-245.2%39.5%17.0%13.4%-110.4%3.1%8.2%
    Op Inc Chg 3Y Avg-63.5%12.3%2.9%12.2%-22.7%43.5%7.5%
    Op Mgn LTM-30.0%-554.7%-311.6%-562.8%--433.1%
    Op Mgn 3Y Avg-24.5%-7,610.5%-335.7%-706.2%--520.9%
    QoQ Delta Op Mgn LTM-1.6%529.7%55.0%286.5%-170.8%
    CFO/Rev LTM-32.8%-528.4%-365.2%-525.7%--445.5%
    CFO/Rev 3Y Avg-29.3%-6,945.0%-243.4%-591.0%--417.2%
    FCF/Rev LTM-26.7%-528.4%-365.2%-540.0%--446.8%
    FCF/Rev 3Y Avg-24.9%-7,376.6%-243.4%-610.7%--427.1%

    Valuation

    VBIOAMGNXFORCHRSTNXPBYSIMedian
    NameValion B.Amgen X4 Pharm.Coherus .Tonix Ph.BeyondSp. 
    Mkt Cap0.0232.80.30.20.10.00.1
    P/S-6.120.63.13.5-4.8
    P/Op Inc-0.020.4-3.7-1.0-0.6-2.7-0.8
    P/EBIT-0.018.0-4.0-1.0-0.6-2.7-0.8
    P/E-0.026.6-3.6-1.2-0.6-3.4-0.9
    P/CFO-0.018.7-3.9-0.8-0.7-1.4-0.8
    Total Yield-11,853.4%6.0%-27.5%-86.2%-158.9%-29.0%-57.6%
    Dividend Yield0.0%2.3%0.0%0.0%0.0%0.0%0.0%
    FCF Yield 3Y Avg-11,849.9%4.9%-305.1%-66.8%-88,116.1%-35.0%-186.0%
    D/E113.00.20.20.30.00.00.2
    Net D/E99.30.2-0.4-0.4-1.7-0.3-0.3

    Returns

    VBIOAMGNXFORCHRSTNXPBYSIMedian
    NameValion B.Amgen X4 Pharm.Coherus .Tonix Ph.BeyondSp. 
    1M Rtn-45.2%14.6%-26.4%-17.2%-48.3%-22.3%-24.3%
    3M Rtn127.3%18.4%-32.3%-27.9%-51.1%-57.3%-30.1%
    6M Rtn-9.5%23.0%-39.7%-49.0%-56.5%-68.2%-44.4%
    12M Rtn-61.4%49.8%-13.0%-40.9%-67.7%-69.1%-51.1%
    3Y Rtn-95.5%65.8%-90.4%-72.9%-99.7%-46.5%-81.7%
    1M Excs Rtn-51.0%11.3%-28.4%-20.1%-49.0%-24.4%-26.4%
    3M Excs Rtn122.6%14.2%-34.6%-33.9%-49.5%-60.4%-34.2%
    6M Excs Rtn-18.8%13.4%-49.3%-58.7%-66.1%-77.6%-54.0%
    12M Excs Rtn-78.5%32.1%-26.6%-60.6%-86.0%-83.4%-69.6%
    3Y Excs Rtn-172.2%-11.8%-169.1%-153.5%-178.6%-101.9%-161.3%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/14/20265/14/20263/30/202611/14/20258/14/20255/15/20253/21/202511/14/20248/14/20245/15/20243/25/202411/14/2023
    Key Financials Quarterly            
    Total Revenue00-0000-100000
    Ebitda-6-5-2-2-2-1-0-1-1-1-2-2
    Operating Income-6-6-2-2-2-1-0-1-1-1-2-2
    Net Income-7-6-3-3-2-2-1-1-1-1-2-2
    EPS-54.25-55.75-27.73-50.00-54.75-63.00-66.30-98.25-134.25-428.75-650.33-629.00
    Key Financials TTM            
    Total Revenue TTM-0-0-0-0-0-0011111
    Ebitda TTM-16-11-7-6-4-4-4-6-7-7-8-8
    Operating Income TTM-17-12-8-6-5-4-4-6-7-8-8-8
    Net Income TTM-19-14-9-8-6-6-6-6-7-8-8-8
    Growth Rates Quarterly            
    Total Revenue Growth--49.7%15.9%-100.0%-100.0%-268.1%-55.3%-13.0%-11.2%-12.5%-40.9%
    EBITDA Growth-243.9%-293.3%-10010.5%-73.6%-35.7%4.4%99.1%16.7%40.6%30.7%0.6%32.4%
    Operating Income Growth-282.8%-309.2%-562.8%-73.5%-32.5%7.0%86.7%18.7%40.4%30.0%0.5%31.9%
    Net Income Growth-267.8%-312.9%-92.9%-81.4%-52.5%-1.4%34.2%18.7%40.4%30.0%0.5%31.9%
    Margins Quarterly            
    EBITDA Margin----1700.7%----1134.9%-881.4%-429.6%-615.4%-608.5%
    Operating Income Margin----1700.7%----1135.7%-904.3%-443.4%-628.6%-624.1%
    Net Income Margin----1778.1%----1135.7%-904.3%-443.4%-628.3%-624.1%
    Cash & Debt            
    Total Cash2713311224235
    Total Debt17176000000000
    Net Debt / (Cash)1510-6-3-1-1-2-2-4-1-3-5
    Cash Flows Quarterly            
    FCF from Operations-5-5-2-2-2-1-1-1-1-2-2-2
    Cash Flows TTM            
    FCF from Operations TTM-15-11-7-6-5-5-6-6-7-8-9-9
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-29.9%-28.2%-12.5%-19.2%-13.6%-11.6%-2.7%-13.4%-12.3%-14.7%-23.4%-19.2%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-19.2%-14.7%-11.9%-11.3%-9.7%-9.2%-10.2%-15.0%-16.4%-18.9%-21.4%-22.5%

    Segment Financials

    Revenue by Segment
    $ Mil20242023202220212020
    Single Segment11211
    Total11211


    Net Income by Segment
    $ Mil2025
    Contract development and manufacturing organization (CDMO)-1
    Biopharma-7
    Total-8


    Assets by Segment
    $ Mil2025
    Contract development and manufacturing organization (CDMO)17
    Biopharma15
    Current assets of discontinued operations0
    Total32


    Price Behavior

    Price Behavior
    Market Price$1.17 
    Market Cap ($ Bil)0.0 
    First Trading Date11/11/2021 
    Distance from 52W High-67.2% 
       50 Days200 Days
    DMA Price$1.79$1.10
    DMA Trendupup
    Distance from DMA-34.5%6.3%
     3M1YR
    Volatility1,231.5%622.6%
    Downside Capture-1094.5785.33
    Upside Capture-142.331.06
    Correlation (S&P 500)-6.5%-0.5%
    VBIO Betas & Captures as of 9/30/2026

     1M2M3M6M1Y3Y
    Beta-13.21-9.84-5.71-3.060.020.99
    Up Beta14.273.012.50-0.170.542.78
    Down Beta100.3848.2623.939.206.242.24
    Up Capture-32%-14%-38%-24%23%-3%
    Bmk +ve Days6162766132424
    Stock +ve Days1010164497292
    Down Capture-7538%-4999%-3219%-1026%54%91%
    Bmk -ve Days16263760120328
    Stock -ve Days12121852124413

    [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 VBIO
    VBIO-94.6%117.8%-2.23-
    Sector ETF (XLV)25.7%16.1%1.224.8%
    Equity (SPY)15.8%12.7%0.8616.5%
    Gold (GLD)-1.4%29.4%-0.0512.3%
    Commodities (DBC)50.4%20.7%1.86-2.1%
    Real Estate (VNQ)4.8%13.7%0.0914.5%
    Bitcoin (BTCUSD)-25.9%43.6%-0.5721.2%

    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 VBIO
    VBIO-88.7%174.7%-0.62-
    Sector ETF (XLV)8.5%15.2%0.367.6%
    Equity (SPY)13.2%17.1%0.5910.1%
    Gold (GLD)18.4%18.9%0.791.6%
    Commodities (DBC)9.6%19.5%0.37-2.1%
    Real Estate (VNQ)1.6%18.8%-0.025.6%
    Bitcoin (BTCUSD)8.8%51.8%0.359.8%

    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 VBIO
    VBIO-66.4%174.7%-0.62-
    Sector ETF (XLV)11.3%16.7%0.557.6%
    Equity (SPY)15.2%17.9%0.7210.1%
    Gold (GLD)12.3%16.4%0.611.6%
    Commodities (DBC)8.1%18.1%0.36-2.1%
    Real Estate (VNQ)5.2%20.7%0.215.6%
    Bitcoin (BTCUSD)63.2%66.2%1.039.8%

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

    Short Interest

    Short Interest: As Of Date9302026
    Short Interest: Shares Quantity0.1 Mil
    Short Interest: % Change Since 9152026128.9%
    Average Daily Volume6.0 Mil
    Days-to-Cover Short Interest1
    Basic Shares Quantity0.1 Mil
    Short % of Basic Shares65.1%

    Earnings Returns History

    Updated 10/14/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    5/14/2026-5.5%-5.6%-40.0%
    3/25/2026-13.3%-11.4%16.7%
    11/14/2025-8.2%-23.1%-3.8%
    8/14/20258.3%-8.6%-13.1%
    5/15/2025-1.2%-2.1%-13.2%
    3/21/2025-3.9%-20.8%100.8%
    11/14/202410.9%-24.8%-33.8%
    8/14/2024-7.1%9.0%-8.3%
    ...
    SUMMARY STATS   
    # Positive533
    # Negative101212
    Median Positive5.8%9.0%16.7%
    Median Negative-6.0%-11.4%-17.7%
    Max Positive10.9%48.2%100.8%
    Max Negative-31.3%-38.2%-51.2%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    5/14/2026-5.5%-5.6%-40.0%
    3/25/2026-13.3%-11.4%16.7%
    11/14/2025-8.2%-23.1%-3.8%
    8/14/20258.3%-8.6%-13.1%
    5/15/2025-1.2%-2.1%-13.2%
    3/21/2025-3.9%-20.8%100.8%
    11/14/202410.9%-24.8%-33.8%
    8/14/2024-7.1%9.0%-8.3%
    3/25/20245.8%-10.9%-17.6%
    11/14/20231.9%-17.8%-17.8%
    8/14/2023-6.5%48.2%-37.2%
    5/15/2023-31.3%-38.2%-51.1%
    11/14/2022-1.8%-11.5%-51.2%
    8/15/2022-3.9%-6.4%-6.9%
    5/16/20220.6%7.3%13.5%
    SUMMARY STATS   
    # Positive533
    # Negative101212
    Median Positive5.8%9.0%16.7%
    Median Negative-6.0%-11.4%-17.7%
    Max Positive10.9%48.2%100.8%
    Max Negative-31.3%-38.2%-51.2%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/14/202610-Q
    03/31/202605/14/202610-Q
    12/31/202503/30/202610-K
    09/30/202511/14/202510-Q
    06/30/202508/14/202510-Q
    03/31/202505/15/202510-Q
    12/31/202403/21/202510-K
    09/30/202411/14/202410-Q
    06/30/202408/14/202410-Q
    03/31/202405/15/202410-Q
    12/31/202303/25/202410-K
    09/30/202311/14/202310-Q
    06/30/202308/14/202310-Q
    03/31/202305/15/202310-Q
    12/31/202203/31/202310-K
    09/30/202211/14/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/14/202610-Q
    03/31/202605/14/202610-Q
    12/31/202503/30/202610-K
    09/30/202511/14/202510-Q
    06/30/202508/14/202510-Q
    03/31/202505/15/202510-Q
    12/31/202403/21/202510-K
    09/30/202411/14/202410-Q
    06/30/202408/14/202410-Q
    03/31/202405/15/202410-Q
    12/31/202303/25/202410-K
    09/30/202311/14/202310-Q
    06/30/202308/14/202310-Q
    03/31/202305/15/202310-Q
    12/31/202203/31/202310-K
    09/30/202211/14/202210-Q
    06/30/202208/15/202210-Q
    03/31/202205/16/202210-Q
    12/31/202103/31/202210-K
    09/30/202111/12/2021424B4

    Insider Activity

    Updated 6/18/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Bolton, SheryleDirectBuy42020261.0410,00010,40010,400Form
    2Valauri, Christina RizopoulosDirectBuy40220260.9519,00018,00818,008Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Bolton, SheryleDirectBuy42020261.0410,00010,40010,400Form
    2Valauri, Christina RizopoulosDirectBuy40220260.9519,00018,00818,008Form

    Industry Resources

    External Quote Links


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    Core Cache Last Updated: 10/16/2026