M 
2.00
-2.44%
Close of 9 Nov 2026, in USD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in USD, from our data supplier.
Revenue
$1.1m
FY2018FY2025
Net income
−$30.6m
FY2018FY2025
Free cash flow
−$23.3m
FY2018FY2025
Shareholders' equity
$17.1m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1m | $2.1m | $3.1m | $299,000 | $330,000 | $365,000 | — | — |
| Research and development | $9.2m | $9.8m | $34.4m | $41.7m | $51.3m | $22.7m | $9.8m | $2.5m |
| Operating income | −$29.8m | −$34.6m | −$70.2m | −$90.7m | $134.9m | −$34.7m | −$236,080 | −$3.7m |
| Net income | −$30.6m | −$34.9m | −$68.9m | −$95.4m | $120.7m | −$307.0m | $62,359 | −$6.2m |
| Diluted earnings per share | -49.10 | -224.30 | -116.48 | -195.94 | 338.54 | -902.49 | 0.11 | -0.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | $40.3m | $10.0m | $20.6m | $92.4m | $185.8m | $36.3m | $174.2m | $5.0m |
| Cash and short-term investments | $12.8m | $1.6m | $2.1m | $61.1m | $160.0m | $23.0m | $1.1m | $3.8m |
| Total liabilities | $23.2m | $17.8m | $17.5m | $53.8m | $53.9m | $325.8m | $7.1m | $290,070 |
| Debt | $11.3m | $6.0m | $8.4m | $21.3m | $29.4m | $314.8m | — | — |
| Shareholders' equity | $17.1m | −$7.8m | $3.2m | $38.6m | $131.9m | −$289.5m | $167.1m | $4.3m |
| Shares outstanding | 1m | 0m | 1m | 0m | 0m | 0m | 1m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$23.3m | −$16.6m | −$61.8m | −$87.9m | −$86.7m | −$32.5m | −$356,959 | −$3.9m |
| Capital spending | −$12,000 | −$41,000 | −$132,000 | −$767,000 | −$3.1m | −$1.6m | −$1.8m | −$216,518 |
| Free cash flow | −$23.3m | −$16.7m | −$62.0m | −$88.7m | −$89.8m | −$34.1m | −$2.1m | −$4.2m |
| Dividends paid | — | — | — | — | −$56.2m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $25,000 | $3.2m | $363,000 | $234,000 | $191,000 | $322,000 | $285,000 | $107,000 |
| Operating income | −$8.1m | −$9.0m | −$8.9m | −$6.2m | −$6.4m | −$6.2m | −$6.8m | −$7.7m |
| Net income | −$8.3m | −$9.5m | −$6.9m | −$11.1m | −$6.5m | −$6.2m | −$11.9m | −$7.8m |
| Diluted earnings per share | -0.70 | -0.80 | -11.06 | -17.78 | -10.35 | -9.91 | -76.12 | -49.79 |
| Cash from operations | −$9.0m | −$5.0m | −$10.0m | −$5.0m | −$3.0m | −$4.0m | −$5.0m | −$4.0m |
| Total assets | $129.5m | $45.9m | $40.3m | $19.6m | $9.2m | $11.7m | $10.0m | $14.1m |
| Cash and short-term investments | $107.6m | $23.5m | $12.8m | $670,000 | $132,000 | $3.4m | — | $798,000 |
| Debt | $956,000 | $2.6m | $4.3m | $4.6m | $5.3m | $4.6m | — | $3.7m |
| Shareholders' equity | $114.3m | $27.2m | $17.1m | −$694,000 | −$10.0m | −$6.0m | −$7.8m | −$5.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 54.8% | 24.9% | — |
| Operating income | -31.0% | -2.9% | — |
| Net income | -31.6% | -37.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1997.5% | -3406.8% | -1711.3% | — |
| Net margin | -2032.6% | -3476.9% | -5696.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -0.1 | -0.3 | -1.2 | -16.4 | 50.9 | -82.0 |
| Price to sales | 2.7 | 5.8 | 27.3 | — | — | — |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Return | -90% | -44% | -96% | -83% | -72% | 68% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 18-to-1 reverse split · 18 Dec 2025
- 14-to-1 reverse split · 13 Dec 2024
- 50-to-1 reverse split · 24 Aug 2023
- 1-to-1 reverse split · 13 Aug 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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