Boundless Bio, Inc.
BOLDHealthcare|Biotechnology|US
$2.46
+0.05 (+2.07%)
Tangible Book / Share
$2.94
Cash / Share
$3.24
Financials
Financial Snapshot
Market Cap
$56.0M
Enterprise Value
$35.7M
Revenue (TTM)
$0.00
Net Income (TTM)
-$64.0M
Cash & Investments
$72.6M
Net Cash
$72.6M
Free Cash Flow (TTM)
-$56.7M
Operating CF (TTM)
-$56.2M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$72.6M
Quarterly Burn
$14.1M
Monthly Burn
$4.7M
Est. Runway
~5.2 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $104.9M | $133.6M | $414.3M | $73.0M | $66.7M | $120.8M | $152.1M | $107.6M | $72.6M | |
| Operating Cash Flow | -$49.0M | -$84.5M | -$108.0M | -$23.2M | -$39.6M | -$46.9M | -$60.8M | -$46.7M | -$56.2M | |
| Free Cash Flow | -$65.7M | -$92.1M | -$119.6M | -$25.3M | -$40.7M | -$47.5M | -$63.4M | -$47.2M | -$56.7M | |
| Capital Expenditure | -$16.7M | -$7.6M | -$11.6M | -$2.0M | -$1.1M | -$633.0K | -$2.5M | -$546.0K | -$485.0K | |
| Financing Cash Flow | $75.4M | $120.6M | $398.5M | $105.5M | $126.0K | $97.9M | $89.8M | $141.0K | $97.0K |
R&D Spending
R&D (TTM)
$44.5M
R&D Intensity
—
R&D Growth vs Prior
-0.7%
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $48.8M | $75.9M | $104.4M | $19.3M | $37.2M | $42.6M | $55.3M | $44.8M | $44.5M | |
| SG&A | $11.3M | $17.3M | $30.0M | $6.0M | $9.3M | $12.2M | $18.0M | $18.7M | $23.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.1M | $1.3M | $901.0K | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$1.1M | -$1.3M | -$901.0K | |
| R&D | $48.8M | $75.9M | $104.4M | $19.3M | $37.2M | $42.6M | $55.3M | $44.8M | $44.5M | |
| SG&A | $11.3M | $17.3M | $30.0M | $6.0M | $9.3M | $12.2M | $18.0M | $18.7M | $23.8M | |
| Operating Income | -$60.0M | -$93.2M | -$134.4M | -$25.3M | -$46.5M | -$54.8M | -$73.3M | -$63.6M | -$68.0M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$59.7M | -$92.5M | -$128.8M | -$25.2M | -$45.9M | -$49.4M | -$65.4M | -$58.2M | -$64.0M | |
| Net Income | -$59.7M | -$90.2M | -$128.8M | -$25.2M | -$45.9M | -$49.4M | -$65.4M | -$58.2M | -$64.0M | |
| EPS (Diluted) | -5.59 | -3.40 | -2.93 | -1.13 | -2.06 | -2.22 | -3.85 | -2.60 | -2.86 | |
| EBITDA | -$58.1M | -$88.7M | -$121.4M | -$24.5M | -$45.0M | -$48.5M | -$64.3M | -$56.9M | -$61.9M | |
| Shares Out. (M) | 10.67 | 26.58 | 44.03 | 22.24 | 22.24 | 22.24 | 16.98 | 22.36 | 22.45 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $36.4M | $39.0M | $144.3M | $34.3M | $11.0M | $23.7M | $26.6M | $17.9M | $20.2M | |
| Short-Term Investments | $68.5M | $94.6M | $270.0M | $38.7M | $55.8M | $97.0M | $125.5M | $89.7M | $52.4M | |
| Total Current Assets | $108.4M | $137.0M | $419.8M | $74.6M | $68.0M | $124.2M | $154.4M | $109.6M | $73.6M | |
| Total Assets | $142.1M | $178.7M | $472.6M | $113.7M | $76.8M | $129.9M | $206.4M | $157.1M | $73.7M | |
| Total Current Liabilities | $12.6M | $17.7M | $23.9M | $3.9M | $7.7M | $9.4M | $8.1M | $12.5M | $7.8M | |
| Long-Term Debt | $2.5M | $2.5M | $4.7M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $22.7M | $22.1M | $29.8M | $151.9M | $158.5M | $257.0M | $55.8M | $58.4M | $7.8M | |
| Stockholders' Equity | $119.4M | $156.6M | $442.8M | -$38.2M | -$81.7M | -$127.1M | $150.6M | $98.7M | $66.0M | |
| Retained Earnings | -$100.4M | -$190.6M | -$319.5M | -$40.8M | -$86.7M | -$136.1M | -$201.5M | -$259.7M | -$296.9M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$49.0M | -$84.5M | -$108.0M | -$23.2M | -$39.6M | -$46.9M | -$60.8M | -$46.7M | -$56.2M | |
| Capital Expenditure | -$16.7M | -$7.6M | -$11.6M | -$2.0M | -$1.1M | -$633.0K | -$2.5M | -$546.0K | -$485.0K | |
| Free Cash Flow | -$65.7M | -$92.1M | -$119.6M | -$25.3M | -$40.7M | -$47.5M | -$63.4M | -$47.2M | -$56.7M | |
| Investing Cash Flow | -$62.0M | -$33.4M | -$185.0M | -$59.3M | $16.1M | -$38.3M | -$26.1M | $37.8M | $61.1M | |
| Financing Cash Flow | $75.4M | $120.6M | $398.5M | $105.5M | $126.0K | $97.9M | $89.8M | $141.0K | $97.0K | |
| Issuance of Stock | $75.2M | $39.1M | $14.6M | $0.00 | $126.0K | $0.00 | $93.0M | $141.0K | $97.0K | |
| Repurchase of Stock | -$36.4M | -$39.0M | -$144.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.0M | $6.9M | $0.00 | $1.2M | $2.3M | $3.3M | $7.5M | $6.1M | $7.2M | |
| Net Change in Cash | -$35.7M | $2.6M | $105.4M | $23.0M | -$23.3M | $12.8M | $2.9M | -$8.7M | $5.5M |
Dilution Tracker
Shares Outstanding
23M
5-Year Share Growth
-49.2%
Stock Issuance (TTM)
$97.0K
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 10.67 | 26.58 | 44.03 | 22.24 | 22.24 | 22.24 | 16.98 | 22.36 | 22.45 | |
| Change vs Prior % | — | 149.0% | 65.7% | -49.5% | 0.0% | 0.0% | -23.6% | 31.7% | 0.4% | |
| Stock Issuance | $75.2M | $39.1M | $14.6M | $0.00 | $126.0K | $0.00 | $93.0M | $141.0K | $97.0K | |
| Stock Repurchase | -$36.4M | -$39.0M | -$144.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.0M | $6.9M | $0.00 | $1.2M | $2.3M | $3.3M | $7.5M | $6.1M | $7.2M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | -50.0% | -57.6% | -29.1% | 66.0% | 56.2% | 38.9% | -43.4% | -59.0% | -70.9% | |
| ROA % | -42.0% | -50.5% | -27.3% | -22.2% | -59.7% | -38.1% | -31.7% | -37.1% | -86.8% | |
| ROIC % | -46.3% | -54.9% | -29.8% | -23.0% | -65.0% | -44.6% | -37.0% | -43.0% | -103.1% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -15.2% | |
| Operating Income | 0.0% | -55.2% | -44.2% | 0.0% | -83.7% | -17.9% | -33.7% | 13.3% | |
| Net Income | 0.0% | -51.2% | -42.8% | 0.0% | -82.1% | -7.7% | -32.2% | 11.0% | |
| EPS (Diluted) | 0.0% | 39.2% | 13.8% | 0.0% | -82.3% | -7.8% | -73.4% | 32.5% | |
| Operating Cash Flow | 0.0% | -72.4% | -27.8% | 0.0% | -70.3% | -18.3% | -29.8% | 23.3% | |
| Free Cash Flow | 0.0% | -40.2% | -29.9% | 0.0% | -60.8% | -16.8% | -33.5% | 25.5% | |
| R&D Expense | 0.0% | 55.6% | 37.5% | 0.0% | 92.8% | 14.7% | 29.6% | -18.9% | |
| SG&A Expense | 0.0% | 53.2% | 73.7% | 0.0% | 54.6% | 30.6% | 48.0% | 3.9% | |
| Total Assets | 0.0% | 25.8% | 164.5% | 0.0% | -32.4% | 69.1% | 58.9% | -23.9% | |
| Book Value / Share | 0.0% | -47.3% | 70.7% | 0.0% | -113.9% | -55.6% | 255.2% | -50.3% | |
| Debt | 0.0% | 160.9% | -1.6% | 0.0% | 1274.8% | -57.7% | 2070.0% | 2.9% | |
| Diluted Shares | 0.0% | 149.0% | 65.7% | 0.0% | 0.0% | 0.0% | -23.6% | 31.7% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.84
10Y Low / Med / High0.27 / 1.27 / 2.42
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$2.94
Net Current Assets / Share
$2.90
Graham Net-Net
$2.89
Cash / Share
$3.24
| Metric | Trend | 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -2.55 | -4.19 | -4.86 | -12.61 | -6.92 | -6.42 | -0.75 | -0.46 | -0.86 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 1.27 | 2.42 | 1.42 | -8.30 | -3.88 | -2.49 | 0.33 | 0.27 | 0.84 | |
| EV/EBITDA | -2.04 | -3.91 | -4.04 | -11.54 | -6.92 | -6.09 | -1.09 | -1.02 | -0.58 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-3.11
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $8.4M |
| Net Income | -$56.6M | -$21.9M | -$34.9M |
| EPS | $-2.53 | $-0.98 | $-1.56 |
| # Analysts (EPS) | 1 | 1 | 1 |