LeonaBio, Inc.
LONAHealthcare|Biotechnology|US
$4.42
+0.07 (+1.73%)
DCF Value
$15.07
Tangible Book / Share
$7.86
Cash / Share
$11.94
Financials
Financial Snapshot
Market Cap
$17.4M
Enterprise Value
-$14.3M
Revenue (TTM)
$0.00
Net Income (TTM)
-$141.5M
Cash & Investments
$51.1M
Net Cash
$50.5M
Free Cash Flow (TTM)
-$61.9M
Operating CF (TTM)
-$61.9M
Debt/Equity
0.02
Cash Runway & Burn Rate
Cash on Hand
$51.1M
Quarterly Burn
$15.5M
Monthly Burn
$5.2M
Est. Runway
~3.3 quarters
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $4.8M | $2.1M | $184.7M | $253.8M | $200.3M | $147.4M | $51.3M | $88.3M | $51.1M | |
| Operating Cash Flow | -$4.5M | -$3.7M | -$24.1M | -$43.1M | -$72.5M | -$100.8M | -$97.2M | -$45.7M | -$61.9M | |
| Free Cash Flow | -$4.5M | -$3.7M | -$26.4M | -$44.7M | -$73.6M | -$101.1M | -$97.2M | -$45.7M | -$61.9M | |
| Capital Expenditure | $0.00 | $0.00 | -$2.3M | -$1.6M | -$1.1M | -$304.0K | -$33.0K | $0.00 | $0.00 | |
| Financing Cash Flow | $1.5M | $946.0K | $292.8M | $97.1M | $654.0K | $493.0K | $194.0K | $82.5M | $82.6M |
R&D Spending
R&D (TTM)
$33.3M
R&D Intensity
—
R&D Growth vs Prior
+90.0%
| Metric | Trend | 2018 | 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 | $0.00 | |
| R&D Expense | $3.6M | $3.8M | $13.3M | $42.8M | $61.5M | $93.8M | $70.7M | $17.5M | $33.3M | |
| SG&A | $1.4M | $1.7M | $6.7M | $21.2M | $32.6M | $33.3M | $26.1M | $16.7M | $21.3M |
Income Statement
| Metric | Trend | 2018 | 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 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $2.0M | $479.0K | $0.00 | $0.00 | $0.00 | $68.1M | $68.6M | |
| Gross Profit | $0.00 | $0.00 | -$2.0M | -$479.0K | $0.00 | $0.00 | $0.00 | -$68.1M | -$68.6M | |
| R&D | $3.6M | $3.8M | $13.3M | $42.8M | $61.5M | $93.8M | $70.7M | $17.5M | $33.3M | |
| SG&A | $1.4M | $1.7M | $6.7M | $21.2M | $32.6M | $33.3M | $26.1M | $16.7M | $21.3M | |
| Operating Income | -$5.0M | -$5.4M | -$20.0M | -$64.0M | -$104.0M | -$125.5M | -$100.9M | -$102.3M | -$123.0M | |
| Interest Expense | $9.0K | $346.0K | $367.0K | $3.0K | $24.3M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$5.1M | -$5.2M | -$20.0M | -$54.9M | -$95.6M | -$117.7M | -$96.9M | -$105.6M | -$141.5M | |
| Net Income | -$5.1M | -$5.2M | -$20.0M | -$54.9M | -$95.6M | -$117.7M | -$96.9M | -$105.6M | -$141.5M | |
| EPS (Diluted) | -1.60 | -1.40 | -6.10 | -14.90 | -25.30 | -30.90 | -25.20 | -24.70 | -32.78 | |
| EBITDA | -$79.0K | -$4.8M | -$19.6M | -$54.4M | -$88.0M | -$126.0M | -$95.8M | -$33.2M | -$53.3M | |
| Shares Out. (M) | 3.26 | 3.26 | 3.25 | 3.69 | 3.77 | 3.80 | 3.85 | 4.28 | 4.28 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.3M | $2.1M | $60.6M | $110.5M | $96.0M | $90.6M | $48.4M | $69.3M | $32.3M | |
| Short-Term Investments | $1.5M | $0.00 | $124.1M | $143.2M | $104.4M | $56.8M | $2.8M | $19.1M | $18.7M | |
| Total Current Assets | $4.9M | $2.2M | $192.3M | $260.8M | $207.5M | $154.7M | $54.8M | $89.5M | $54.8M | |
| Total Assets | $4.9M | $2.2M | $279.6M | $332.0M | $258.2M | $160.2M | $58.8M | $92.2M | $56.9M | |
| Total Current Liabilities | $572.0K | $1.3M | $4.4M | $9.3M | $21.4M | $28.8M | $13.1M | $47.5M | $7.8M | |
| Long-Term Debt | $722.0K | $1.6M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $338.0K | $86.0K | |
| Total Liabilities | $19.8M | $21.9M | $5.3M | $10.9M | $23.0M | $30.1M | $13.9M | $64.4M | $23.3M | |
| Stockholders' Equity | -$14.9M | -$19.7M | $274.3M | $321.1M | $235.1M | $130.2M | $44.8M | $27.8M | $33.6M | |
| Retained Earnings | -$15.9M | -$21.1M | -$41.0M | -$95.9M | -$191.5M | -$309.2M | -$406.1M | -$511.8M | -$563.7M |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.5M | -$3.7M | -$24.1M | -$43.1M | -$72.5M | -$100.8M | -$97.2M | -$45.7M | -$61.9M | |
| Capital Expenditure | $0.00 | $0.00 | -$2.3M | -$1.6M | -$1.1M | -$304.0K | -$33.0K | $0.00 | $0.00 | |
| Free Cash Flow | -$4.5M | -$3.7M | -$26.4M | -$44.7M | -$73.6M | -$101.1M | -$97.2M | -$45.7M | -$61.9M | |
| Investing Cash Flow | $2.0M | $1.5M | -$210.1M | -$4.1M | $57.7M | $95.1M | $54.8M | -$15.9M | -$8.2M | |
| Financing Cash Flow | $1.5M | $946.0K | $292.8M | $97.1M | $654.0K | $493.0K | $194.0K | $82.5M | $82.6M | |
| Issuance of Stock | $112.0K | $72.0K | $208.5M | $96.8M | $654.0K | $493.0K | $194.0K | $0.00 | $127.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $1.3M | $874.0K | $1.7M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $196.0K | $253.0K | $633.0K | $4.6M | $10.6M | $10.6M | $11.0M | $6.1M | $6.7M | |
| Net Change in Cash | -$1.0M | -$1.3M | $58.6M | $49.9M | -$14.2M | -$5.2M | -$42.1M | $20.8M | $12.4M |
Dilution Tracker
Shares outstanding grew 31.6% over 5 years — significant dilution
Shares Outstanding
4M
5-Year Share Growth
+31.6%
Stock Issuance (TTM)
$127.0K
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 3.26 | 3.26 | 3.25 | 3.69 | 3.77 | 3.80 | 3.85 | 4.28 | 4.28 | |
| Change vs Prior % | — | 0.0% | -0.4% | 13.7% | 2.2% | 0.8% | 1.2% | 11.1% | 0.0% | |
| Stock Issuance | $112.0K | $72.0K | $208.5M | $96.8M | $654.0K | $493.0K | $194.0K | $0.00 | $127.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $196.0K | $253.0K | $633.0K | $4.6M | $10.6M | $10.6M | $11.0M | $6.1M | $6.7M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 34.2% | 26.2% | -7.3% | -17.1% | -40.7% | -90.4% | -216.2% | -380.0% | -411.6% | |
| ROA % | -103.3% | -235.8% | -7.1% | -16.5% | -37.0% | -73.4% | -164.9% | -114.6% | -248.6% | |
| ROIC % | -114.9% | -594.9% | -7.3% | -19.8% | -43.9% | -95.2% | -219.1% | -226.7% | -248.2% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2018 | 2019 | 2020 | 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% | 76.0% | 100.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | -8.8% | -266.9% | -220.2% | -62.5% | -20.6% | 19.6% | -1.4% | |
| Net Income | 0.0% | -1.3% | -286.6% | -174.9% | -74.4% | -23.0% | 17.6% | -8.9% | |
| EPS (Diluted) | 0.0% | 12.5% | -335.7% | -144.3% | -69.8% | -22.1% | 18.4% | 2.0% | |
| Operating Cash Flow | 0.0% | 17.2% | -549.4% | -78.7% | -68.1% | -39.0% | 3.6% | 52.9% | |
| Free Cash Flow | 0.0% | 17.2% | -611.9% | -69.0% | -64.8% | -37.3% | 3.8% | 53.0% | |
| R&D Expense | 0.0% | 5.7% | 250.3% | 222.1% | 43.6% | 52.6% | -24.6% | -75.2% | |
| SG&A Expense | 0.0% | 16.6% | 305.1% | 216.4% | 53.3% | 2.3% | -21.7% | -36.1% | |
| Total Assets | 0.0% | -55.6% | 12671.3% | 18.8% | -22.2% | -37.9% | -63.3% | 56.8% | |
| Book Value / Share | 0.0% | -32.5% | 1496.4% | 3.0% | -28.3% | -45.1% | -66.0% | -44.2% | |
| Debt | 0.0% | 115.1% | -35.6% | 92.0% | -0.5% | -17.1% | -23.2% | -34.0% | |
| Diluted Shares | 0.0% | 0.0% | -0.4% | 13.7% | 2.2% | 0.8% | 1.2% | 11.1% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.56
10Y Low / Med / High0.50 / 1.16 / 4.06
EV/EBITDA0.27
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$15.07
Tangible Book / Share
$7.86
Net Current Assets / Share
$7.99
Graham Net-Net
$6.49
Cash / Share
$11.94
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -106.94 | -122.21 | -56.15 | -8.74 | -1.25 | -0.79 | -0.23 | -0.31 | -0.13 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -37.49 | -28.30 | 4.06 | 1.50 | 0.51 | 0.71 | 0.50 | 1.16 | 0.56 | |
| EV/EBITDA | -7031.92 | -115.86 | -53.76 | -6.85 | -0.29 | -0.03 | 0.26 | 1.09 | 0.27 | |
| 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
-15.58
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $8.3M |
| Net Income | -$11.7M | -$10.0M | -$8.1M |
| EPS | $-2.84 | $-2.34 | $-1.76 |
| # Analysts (EPS) | 3 | 3 | 3 |