Kardigan Inc
KARDHealthcare|Biotechnology|USA
$24.55
+0.18 (+0.76%)
Financials
Financial Snapshot
Market Cap
$2.19B
Enterprise Value
$321.7M
Revenue (TTM)
$0.00
Net Income (TTM)
$-191.9M
Cash & Equivalents
—
Net Cash/Share
$-3.42
Free Cash Flow (TTM)
$-157.7M
Operating CF (TTM)
$-151.1M
Debt/Equity
-0.06
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$37.8M
Monthly Burn
$12.6M
Est. Runway
—
| Metric | Trend | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Cash & Investments | $49.4M | $335.5M | $335.5M | |
| Operating Cash Flow | $-18.8M | $-151.1M | $-151.1M | |
| Free Cash Flow | $-55.2M | $-157.7M | $-157.7M | |
| Capital Expenditure | $-36.4M | $-6.6M | $-6.6M | |
| Financing Cash Flow | $105.0M | $447.8M | $447.8M |
R&D Spending
R&D (TTM)
$153.1M
R&D Intensity
—
R&D Growth YoY
+0.0%
| Metric | Trend | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $84.3M | $153.1M | $153.1M | |
| R&D % of Revenue | — | — | — | |
| SG&A | $12.4M | $48.8M | $48.8M |
Income Statement
| Metric | Trend | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | |
| R&D | $84.3M | $153.1M | $153.1M | |
| SG&A | $12.4M | $48.8M | $48.8M | |
| Operating Income | $-96.7M | $-201.8M | $-201.8M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-88.7M | $-196.5M | $-196.5M | |
| Net Income | $-88.7M | $-191.9M | $-191.9M | |
| EPS (Diluted) | -1.42 | -3.20 | -3.20 | |
| EBITDA | $-96.3M | $-196.0M | $-196.0M | |
| Shares Out. (M) | 62.30 | 59.95 | 59.95 |
Balance Sheet
| Metric | Trend | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Cash & Equivalents | $49.4M | $109.0M | $109.0M | |
| Marketable Securities | $0.00 | $226.5M | $226.5M | |
| Total Current Assets | $50.3M | $345.4M | $345.4M | |
| Total Assets | $63.5M | $390.9M | $390.9M | |
| Total Current Liabilities | $8.3M | $37.5M | $37.5M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $146.7M | $641.3M | $641.3M | |
| Stockholders' Equity | $-83.2M | $-250.3M | $-250.3M | |
| Retained Earnings | $-89.1M | $-281.1M | $-281.1M |
Cash Flow Statement
| Metric | Trend | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Operating Cash Flow | $-18.8M | $-151.1M | $-151.1M | |
| Capital Expenditure | $-36.4M | $-6.6M | $-6.6M | |
| Free Cash Flow | $-55.2M | $-157.7M | $-157.7M | |
| Investing Cash Flow | $-36.4M | $-237.0M | $-237.0M | |
| Financing Cash Flow | $105.0M | $447.8M | $447.8M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $600.0K | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $6.0M | $15.9M | $15.9M | |
| Net Change in Cash | $49.8M | $59.7M | $59.7M |
Dilution Tracker
Shares Outstanding
60M
5-Year Share Growth
-3.8%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Shares Out. (M) | 62.30 | 59.95 | 59.95 | |
| YoY Change % | — | -3.8% | 0.0% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $6.0M | $15.9M | $15.9M |
Margins & Profitability
| Metric | Trend | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | 0.0% | |
| ROA % | -139.6% | -84.5% | -84.5% | |
| 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/B—
Historical— / — / —
Industry Med.2.93
EV/EBITDA-9.80
Historical-9.80 / — / —
Industry Med.13.02
EV/Revenue—
Historical— / — / —
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
| Metric | Trend | 2024 | 2025 | TTM |
|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | |
| PS Ratio | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 0.00 | |
| EV/EBITDA | 0.00 | 0.00 | -9.80 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
N/A
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|