Artiva Biotherapeutics, Inc.
ARTVHealthcare|Biotechnology|US
$4.15
+0.02 (+0.48%)
DCF Value
$0.66
Tangible Book / Share
$8.82
Cash / Share
$8.86
Financials
Financial Snapshot
Market Cap
$202.9M
Enterprise Value
-$88.7M
Revenue (TTM)
$0.00
Net Income (TTM)
-$90.8M
Cash & Investments
$349.4M
Net Cash
$339.5M
Free Cash Flow (TTM)
-$98.1M
Operating CF (TTM)
-$96.2M
Debt/Equity
0.03
Cash Runway & Burn Rate
Cash on Hand
$349.4M
Quarterly Burn
$24.0M
Monthly Burn
$8.0M
Est. Runway
~14.5 quarters
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $25.4M | $160.9M | $102.5M | $77.0M | $185.4M | $108.0M | $349.4M | |
| Operating Cash Flow | -$13.5M | -$15.3M | -$50.8M | -$47.4M | -$55.0M | -$76.8M | -$96.2M | |
| Free Cash Flow | -$13.8M | -$17.0M | -$57.1M | -$50.7M | -$55.7M | -$79.3M | -$98.1M | |
| Capital Expenditure | -$284.0K | -$1.7M | -$6.3M | -$3.3M | -$642.0K | -$2.6M | -$1.9M | |
| Financing Cash Flow | $37.4M | $152.8M | -$1.3M | $24.4M | $162.2M | $9.0K | $282.9M |
R&D Spending
R&D (TTM)
$75.9M
R&D Intensity
—
R&D Growth vs Prior
+9.1%
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $2.0M | $4.9M | $33.5M | $251.0K | $0.00 | $0.00 | |
| R&D Expense | $13.8M | $42.4M | $44.0M | $50.3M | $50.3M | $69.5M | $75.9M | |
| R&D % of Revenue | — | 2118.4% | 892.0% | 150.0% | 20051.0% | — | — | |
| SG&A | $4.4M | $12.9M | $20.8M | $13.9M | $17.2M | $20.3M | $20.3M |
Income Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $2.0M | $4.9M | $33.5M | $251.0K | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.6M | $666.0K | |
| Gross Profit | $0.00 | $2.0M | $4.9M | $33.5M | $251.0K | -$2.6M | -$666.0K | |
| R&D | $13.8M | $42.4M | $44.0M | $50.3M | $50.3M | $69.5M | $75.9M | |
| SG&A | $4.4M | $12.9M | $20.8M | $13.9M | $17.2M | $20.3M | $20.3M | |
| Operating Income | -$18.3M | -$53.3M | -$59.8M | -$30.7M | -$67.3M | -$90.6M | -$96.1M | |
| Interest Expense | $199.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$18.0M | -$71.8M | -$58.3M | -$27.6M | -$58.5M | -$83.9M | -$90.8M | |
| Net Income | -$18.0M | -$71.8M | -$58.4M | -$27.7M | -$58.5M | -$83.9M | -$90.8M | |
| EPS (Diluted) | -1.02 | -4.08 | -3.32 | -1.19 | -5.20 | -3.43 | -3.31 | |
| EBITDA | -$17.5M | -$71.6M | -$57.2M | -$25.4M | -$56.1M | -$81.3M | -$87.5M | |
| Shares Out. (M) | 17.58 | 17.58 | 17.58 | 23.28 | 24.36 | 24.44 | 39.41 |
Balance Sheet
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $25.4M | $160.9M | $102.5M | $53.5M | $40.2M | $26.7M | $301.5M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $23.5M | $145.2M | $81.3M | $47.9M | |
| Total Current Assets | $26.1M | $162.3M | $104.7M | $79.8M | $188.6M | $112.7M | $352.3M | |
| Total Assets | $29.2M | $169.9M | $133.1M | $105.1M | $209.6M | $130.9M | $368.6M | |
| Total Current Liabilities | $5.8M | $19.3M | $25.6M | $12.2M | $12.3M | $13.1M | $14.6M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $7.9M | $0.00 | |
| Total Liabilities | $50.8M | $258.8M | $273.8M | $267.1M | $22.9M | $21.0M | $21.1M | |
| Stockholders' Equity | -$21.6M | -$88.9M | -$140.7M | -$162.0M | $186.6M | $110.0M | $347.5M | |
| Retained Earnings | -$22.0M | -$93.8M | -$152.6M | -$181.3M | -$246.7M | -$330.5M | -$379.1M |
Cash Flow Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$13.5M | -$15.3M | -$50.8M | -$47.4M | -$55.0M | -$76.8M | -$96.2M | |
| Capital Expenditure | -$284.0K | -$1.7M | -$6.3M | -$3.3M | -$642.0K | -$2.6M | -$1.9M | |
| Free Cash Flow | -$13.8M | -$17.0M | -$57.1M | -$50.7M | -$55.7M | -$79.3M | -$98.1M | |
| Investing Cash Flow | -$284.0K | -$1.7M | -$6.3M | -$26.0M | -$120.5M | $63.4M | $80.5M | |
| Financing Cash Flow | $37.4M | $152.8M | -$1.3M | $24.4M | $162.2M | $9.0K | $282.9M | |
| Issuance of Stock | $215.0K | $0.00 | $0.00 | $0.00 | $166.5M | $371.0K | $198.0K | |
| Repurchase of Stock | $0.00 | $0.00 | -$5.0K | -$12.0K | -$4.2M | $0.00 | $0.00 | |
| Net Debt Issuance | $3.0M | $0.00 | $0.00 | $0.00 | -$149.0K | -$132.0K | -$45.0K | |
| Stock Based Comp. | $297.0K | $4.3M | $6.6M | $7.1M | $7.0M | $6.8M | $8.3M | |
| Net Change in Cash | $23.6M | $135.7M | -$58.4M | -$49.0M | -$13.3M | -$13.3M | $267.2M |
Dilution Tracker
Shares outstanding grew 39.0% over 5 years — significant dilution
Shares Outstanding
49M
5-Year Share Growth
+39.0%
Stock Issuance (TTM)
$198.0K
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 17.58 | 17.58 | 17.58 | 23.28 | 24.36 | 24.44 | 39.41 | |
| Change vs Prior % | — | 0.0% | 0.0% | 32.4% | 4.6% | 0.3% | 61.2% | |
| Stock Issuance | $215.0K | $0.00 | $0.00 | $0.00 | $166.5M | $371.0K | $198.0K | |
| Stock Repurchase | $0.00 | $0.00 | -$5.0K | -$12.0K | -$4.2M | $0.00 | $0.00 | |
| Stock Based Comp. | $297.0K | $4.3M | $6.6M | $7.1M | $7.0M | $6.8M | $8.3M |
Margins & Profitability
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | 100.0% | 100.0% | 100.0% | 100.0% | — | — | |
| Operating Margin % | — | -2660.9% | -1213.3% | -91.6% | -26805.6% | — | — | |
| Net Margin % | — | -3587.7% | -1184.1% | -82.7% | -23304.0% | — | — | |
| EBITDA Margin % | — | -3575.3% | -1159.5% | -75.7% | -22335.5% | — | — | |
| FCF Margin % | — | -850.5% | -1158.5% | -151.3% | -22180.9% | — | — | |
| ROE % | 83.4% | 80.8% | 41.5% | 17.1% | -31.3% | -76.3% | -53.9% | |
| ROA % | -61.5% | -42.3% | -43.9% | -26.3% | -27.9% | -64.0% | -24.6% | |
| ROIC % | -76.4% | -35.3% | -53.9% | -31.8% | -33.5% | -74.9% | -26.9% | |
| R&D / Revenue % | — | 2118.4% | 892.0% | 150.0% | 20051.0% | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 146.3% | 579.2% | -99.3% | -100.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 146.3% | 579.2% | -99.3% | -1134.7% | |
| Operating Income | 0.0% | 0.0% | -191.6% | -12.3% | 48.7% | -119.4% | -34.7% | |
| Net Income | 0.0% | 0.0% | -299.2% | 18.7% | 52.6% | -111.2% | -43.4% | |
| EPS (Diluted) | 0.0% | 0.0% | -300.0% | 18.6% | 64.2% | -337.0% | 34.0% | |
| Operating Cash Flow | 0.0% | 0.0% | -13.0% | -232.1% | 6.7% | -16.0% | -39.5% | |
| Free Cash Flow | 0.0% | 0.0% | -23.2% | -235.5% | 11.3% | -9.8% | -42.5% | |
| R&D Expense | 0.0% | 0.0% | 206.3% | 3.7% | 14.2% | 0.2% | 38.2% | |
| SG&A Expense | 0.0% | 0.0% | 190.6% | 61.5% | -33.0% | 23.7% | 17.8% | |
| Total Assets | 0.0% | 504.1% | 481.3% | -21.7% | -21.0% | 99.4% | -37.5% | |
| Book Value / Share | 0.0% | 0.0% | -312.0% | -58.3% | 13.0% | 210.1% | -41.3% | |
| Debt | 0.0% | -72.9% | -17.7% | 1017.1% | -13.0% | -15.1% | -23.8% | |
| Diluted Shares | 0.0% | 0.0% | 0.0% | 0.0% | 32.4% | 4.6% | 0.3% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High8.34 / 105.39 / 978.41
P/B0.47
EV/EBITDA1.01
EV/Revenue0.00
10Y Low / Med / High7.25 / 25.94 / 875.30
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.66
Tangible Book / Share
$8.82
Net Current Assets / Share
$6.77
Graham Net-Net
$8.33
Cash / Share
$8.86
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -11.76 | -2.94 | -3.61 | -10.08 | -1.94 | -1.25 | -1.25 | |
| P/S Ratio | 0.00 | 105.39 | 42.79 | 8.34 | 978.41 | 0.00 | 0.00 | |
| P/B Ratio | -9.78 | -2.37 | -1.50 | -1.72 | 1.32 | 0.95 | 0.47 | |
| EV/EBITDA | -10.71 | -0.72 | -2.24 | -9.57 | -3.92 | -1.10 | 1.01 | |
| EV/Revenue | 0.00 | 25.88 | 25.94 | 7.25 | 875.30 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
4.61
Safe
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $1.7M |
| Net Income | -$67.4M | -$45.4M | -$35.5M |
| EPS | $-2.69 | $-1.93 | $-1.45 |
| # Analysts (EPS) | 5 | 5 | 4 |