A 
1.54
+7.69%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$90,000
FY2016FY2025
Net income
−$33.9m
FY2016FY2025
Free cash flow
−$24.7m
FY2016FY2025
Shareholders' equity
$7.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $90,000 | — | $81,000 | $1.0m | $1.1m | $622,000 | — | — | — | — |
| Research and development | $21.1m | $30.0m | $38.7m | $23.1m | $17.5m | $16.1m | $16.5m | $17.1m | $17.7m | $17.5m |
| Operating income | −$36.2m | −$42.1m | −$51.9m | −$34.1m | −$25.0m | −$22.4m | −$22.1m | −$23.8m | −$26.9m | −$26.8m |
| Net income | −$33.9m | −$38.2m | −$48.8m | −$33.0m | −$24.8m | −$22.2m | −$21.9m | −$23.7m | −$26.6m | −$24.3m |
| Diluted earnings per share | -1.09 | -1.23 | -1.77 | -1.29 | -1.15 | -1.21 | -3.80 | -6.05 | -9.02 | -13.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $51.8m | $76.9m | $81.4m | $114.2m | $80.4m | $66.4m | $11.7m | $14.9m | $18.3m | $22.5m |
| Cash and short-term investments | $48.0m | $72.9m | $76.7m | $108.9m | $77.8m | $63.6m | $9.3m | $13.7m | $17.4m | $20.5m |
| Total liabilities | $43.9m | $44.1m | $45.1m | $47.7m | $6.8m | $5.1m | $6.0m | $6.1m | $4.7m | $4.5m |
| Debt | $1.7m | $1.6m | $2.1m | $2.6m | $310,000 | $738,000 | $1.4m | $262,593 | $15,916 | $300,683 |
| Shareholders' equity | $7.8m | $32.8m | $36.4m | $66.5m | $73.5m | $61.3m | $5.6m | $8.8m | $13.7m | $18.0m |
| Shares outstanding | 31m | 31m | 28m | 26m | 22m | 18m | 6m | 4m | 3m | 2m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$24.6m | −$33.1m | −$47.3m | $8.6m | −$20.9m | −$21.6m | −$21.5m | −$20.6m | −$21.6m | −$20.8m |
| Capital spending | −$104,000 | −$11,000 | −$153,000 | −$366,000 | −$133,000 | −$253,000 | −$63,893 | −$96,092 | −$24,739 | −$59,960 |
| Free cash flow | −$24.7m | −$33.1m | −$47.5m | $8.3m | −$21.0m | −$21.9m | −$21.5m | −$20.7m | −$21.6m | −$20.8m |
| Dividends paid | — | — | — | — | — | −$1,000 | −$1,269 | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $35.0m | — | — | $90,000 | — | — | $810,000 | — |
| Operating income | $27.6m | −$5.9m | −$6.4m | −$5.7m | −$7.5m | −$16.6m | −$7.5m | −$12.6m |
| Net income | $27.9m | −$5.5m | −$5.9m | −$5.1m | −$6.9m | −$15.9m | −$6.7m | −$11.6m |
| Diluted earnings per share | 0.89 | -0.18 | -0.19 | -0.16 | -0.22 | -0.51 | -0.21 | -0.37 |
| Cash from operations | −$5.0m | −$5.0m | −$5.0m | −$6.0m | −$5.0m | −$7.0m | −$5.0m | −$11.0m |
| Total assets | $40.2m | $45.4m | $51.8m | $56.2m | $63.0m | $68.6m | $76.9m | $82.1m |
| Cash and short-term investments | $36.5m | $42.1m | $48.0m | $53.4m | $59.9m | $65.3m | $72.9m | $78.7m |
| Debt | $746,000 | $734,000 | $722,000 | $610,000 | $600,000 | $590,000 | $580,000 | $560,000 |
| Shareholders' equity | $30.3m | $2.3m | $7.8m | $13.8m | $19.0m | $25.7m | $32.8m | $38.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -55.6% | -32.1% | — |
| Operating income | 2.1% | 10.1% | 3.9% |
| Net income | 0.9% | 8.8% | 4.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.3 | -1.0 | -1.2 | -3.3 | -2.1 | -2.6 | -0.7 | -0.8 | -0.9 | -0.8 |
| Price to sales | 471.4 | — | — | 106.7 | 45.5 | 92.6 | — | — | — | — |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 37% | -40% | -53% | 51% | -40% | 85% | -50% | -39% | -33% | -71% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 30-to-1 reverse split · 11 Aug 2020
- 2-to-1 reverse split · 19 Dec 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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