Edgewise Therapeutics Inc
EWTXHealthcare|Biotechnology|USA
$45.41
-2.94 (-6.08%)
Tangible Book
$4.59
Earnings Power
$4.34
Financials
Financial Snapshot
Market Cap
$4.89B
Enterprise Value
$495.8M
Revenue (TTM)
$0.00
Net Income (TTM)
$-176.0M
Cash & Equivalents
—
Net Cash/Share
$4.41
Free Cash Flow (TTM)
$-149.0M
Operating CF (TTM)
$-148.5M
Debt/Equity
0.01
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$37.1M
Monthly Burn
$12.4M
Est. Runway
—
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $23.7M | $129.1M | $280.8M | $351.9M | $318.4M | $470.2M | $530.1M | $499.6M | |
| Operating Cash Flow | $-9.2M | $-14.6M | $-33.5M | $-52.6M | $-91.9M | $-109.0M | $-143.8M | $-148.5M | |
| Free Cash Flow | $-9.4M | $-14.8M | $-34.2M | $-58.2M | $-97.7M | $-110.3M | $-144.1M | $-149.0M | |
| Capital Expenditure | $-180.0K | $-203.0K | $-668.0K | $-5.5M | $-5.7M | $-1.3M | $-256.0K | $-472.0K | |
| Financing Cash Flow | $24.8M | $120.3M | $186.4M | $129.6M | $53.2M | $249.3M | $196.1M | $206.0M |
R&D Spending
R&D (TTM)
$157.3M
R&D Intensity
—
R&D Growth YoY
+3.9%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $8.6M | $15.0M | $32.2M | $54.0M | $90.9M | $127.0M | $151.4M | $157.3M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | |
| SG&A | $1.3M | $2.2M | $11.0M | $17.6M | $23.5M | $31.9M | $40.0M | $42.3M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $8.6M | $15.0M | $32.2M | $54.0M | $90.9M | $127.0M | $151.4M | $157.3M | |
| SG&A | $1.3M | $2.2M | $11.0M | $17.6M | $23.5M | $31.9M | $40.0M | $42.3M | |
| Operating Income | $-9.9M | $-17.2M | $-43.2M | $-71.7M | $-114.4M | $-158.8M | $-191.4M | $-199.6M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-9.7M | $-17.1M | $-42.8M | $-67.6M | $-100.2M | $-133.8M | $-167.8M | $-176.0M | |
| Net Income | $-9.7M | $-17.1M | $-42.8M | $-67.6M | $-100.2M | $-133.8M | $-167.8M | $-176.0M | |
| EPS (Diluted) | -0.48 | -0.37 | -1.14 | -1.26 | -1.57 | -1.45 | -1.63 | -1.66 | |
| EBITDA | $-9.8M | $-17.0M | $-42.9M | $-71.1M | $-112.6M | $-156.5M | $-189.1M | $-197.3M | |
| Shares Out. (M) | 20.34 | 46.57 | 37.53 | 53.59 | 63.72 | 92.42 | 102.93 | 107.12 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $23.7M | $104.9M | $15.6M | $22.0M | $86.1M | $41.7M | $61.1M | $33.2M | |
| Marketable Securities | $0.00 | $24.2M | $265.2M | $330.0M | $232.3M | $428.5M | $469.0M | $466.4M | |
| Total Current Assets | $24.0M | $129.6M | $283.8M | $357.0M | $327.0M | $475.5M | $543.4M | $509.8M | |
| Total Assets | $24.5M | $131.1M | $285.2M | $367.1M | $340.0M | $486.8M | $552.6M | $518.5M | |
| Total Current Liabilities | $1.1M | $4.3M | $10.5M | $16.6M | $16.8M | $23.9M | $27.4M | $22.5M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $41.4M | $164.6M | $10.8M | $20.4M | $21.2M | $27.6M | $30.3M | $25.3M | |
| Stockholders' Equity | $-16.9M | $-33.4M | $274.4M | $346.7M | $318.8M | $459.2M | $522.3M | $493.2M | |
| Retained Earnings | $-17.0M | $-34.1M | $-77.0M | $-144.6M | $-244.8M | $-378.6M | $-546.4M | $-595.4M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-9.2M | $-14.6M | $-33.5M | $-52.6M | $-91.9M | $-109.0M | $-143.8M | $-148.5M | |
| Capital Expenditure | $-180.0K | $-203.0K | $-668.0K | $-5.5M | $-5.7M | $-1.3M | $-256.0K | $-472.0K | |
| Free Cash Flow | $-9.4M | $-14.8M | $-34.2M | $-58.2M | $-97.7M | $-110.3M | $-144.1M | $-149.0M | |
| Investing Cash Flow | $-180.0K | $-24.4M | $-242.2M | $-70.6M | $102.9M | $-184.7M | $-32.8M | $-74.3M | |
| Financing Cash Flow | $24.8M | $120.3M | $186.4M | $129.6M | $53.2M | $249.3M | $196.1M | $206.0M | |
| Issuance of Stock | $0.00 | $0.00 | $186.1M | $129.2M | $52.6M | $239.1M | $187.4M | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $77.0K | $354.0K | $4.4M | $10.9M | $17.6M | $24.7M | $34.8M | $34.4M | |
| Net Change in Cash | $15.4M | $81.3M | $-89.3M | $6.4M | $64.1M | $-44.4M | $19.5M | $-16.7M |
Dilution Tracker
Shares outstanding grew 185.4% over 5 years — significant dilution
Shares Outstanding
107M
5-Year Share Growth
+185.4%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 20.34 | 46.57 | 37.53 | 53.59 | 63.72 | 92.42 | 102.93 | 107.12 | |
| YoY Change % | — | 129.0% | -19.4% | 42.8% | 18.9% | 45.0% | 11.4% | 4.1% | |
| Stock Issuance | $0.00 | $0.00 | $186.1M | $129.2M | $52.6M | $239.1M | $187.4M | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $77.0K | $354.0K | $4.4M | $10.9M | $17.6M | $24.7M | $34.8M | $34.4M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | -35.5% | -21.8% | -30.1% | -34.4% | -34.2% | -33.9% | |
| ROA % | -39.5% | -22.0% | -20.6% | -20.7% | -28.3% | -32.4% | -32.3% | -32.3% | |
| R&D / Revenue | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical— / — / —
Industry Med.9.49
P/B9.90
Historical— / — / 9.90
Industry Med.2.93
EV/EBITDA-22.26
Historical-22.26 / — / —
Industry Med.13.02
EV/Revenue—
Historical— / — / —
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$4.59
Net Current Assets
$4.510
Net-Net Working Capital
$4.41
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 2.76 | 1.63 | 2.42 | 5.51 | 5.05 | 9.90 | |
| EV/EBITDA | 0.00 | 0.00 | -11.07 | -3.06 | -4.06 | -13.20 | -11.16 | -22.26 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
3
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $44.78M | $83.11M |
| Net Income | $-59.53M | $-184.74M | $-208.19M |
| EPS | -1.96 | -1.75 | -1.15 |
| Book Value per Share | 0.00 | 0.00 | 0.00 |
| Operating Cash Flow per Share | -3.48 | -0.60 | -1.32 |
| Operating CF | $-372.77M | $-64.27M | $-141.39M |