uniQure NV
QUREHealthcare|Biotechnology|Netherlands
$42.63
-1.85 (-4.16%)
Tangible Book
$0.87
Financials
Financial Snapshot
Market Cap
$2.93B
Enterprise Value
$523.2M
Revenue (TTM)
$18.1M
Net Income (TTM)
$-208.9M
Cash & Equivalents
—
Net Cash/Share
$-0.68
Free Cash Flow (TTM)
$-172.6M
Operating CF (TTM)
$-172.1M
Debt/Equity
0.42
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$43.0M
Monthly Burn
$14.3M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $132.5M | $159.4M | $234.9M | $377.8M | $244.9M | $556.3M | $352.8M | $617.9M | $367.5M | $622.5M | $586.5M | |
| Operating Cash Flow | $-72.2M | $-64.3M | $-76.0M | $-98.7M | $-134.8M | $288.0M | $-145.1M | $-145.9M | $-182.7M | $-178.0M | $-172.1M | |
| Free Cash Flow | $-89.4M | $-69.9M | $-80.3M | $-105.3M | $-144.3M | $270.5M | $-162.7M | $-153.1M | $-194.4M | $-178.4M | $-172.6M | |
| Capital Expenditure | $-17.2M | $-5.6M | $-4.2M | $-6.6M | $-9.5M | $-17.4M | $-17.7M | $-7.2M | $-11.7M | $-439.0K | $-453.0K | |
| Financing Cash Flow | $2.4M | $90.1M | $158.0M | $248.8M | $7.4M | $94.9M | $1.4M | $362.7M | $-59.5M | $415.4M | $335.3M |
R&D Spending
R&D (TTM)
$133.7M
R&D Intensity
739.0%
R&D Growth YoY
-5.0%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.1M | $13.1M | $11.3M | $7.3M | $37.5M | $524.0M | $106.5M | $15.8M | $27.1M | $16.1M | $18.1M | |
| R&D Expense | $72.5M | $72.2M | $74.8M | $94.7M | $122.4M | $143.5M | $197.6M | $214.9M | $143.8M | $140.7M | $133.7M | |
| R&D % of Revenue | 288.9% | 550.6% | 663.0% | 1301.2% | 326.3% | 27.4% | 185.6% | 1356.2% | 530.2% | 873.9% | 739.0% | |
| SG&A | $26.0M | $24.6M | $25.3M | $33.5M | $42.6M | $56.3M | $54.7M | $73.1M | $50.7M | $65.3M | $74.5M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.1M | $13.1M | $11.3M | $7.3M | $37.5M | $524.0M | $106.5M | $15.8M | $27.1M | $16.1M | $18.1M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $25.0M | $3.3M | $13.6M | $18.3M | $1.7M | $1.7M | |
| Gross Profit | $25.1M | $13.1M | $11.3M | $7.3M | $37.5M | $499.0M | $103.1M | $2.2M | $8.8M | $14.4M | $16.4M | |
| R&D | $72.5M | $72.2M | $74.8M | $94.7M | $122.4M | $143.5M | $197.6M | $214.9M | $143.8M | $140.7M | $133.7M | |
| SG&A | $26.0M | $24.6M | $25.3M | $33.5M | $42.6M | $56.3M | $54.7M | $73.1M | $50.7M | $65.3M | $74.5M | |
| Operating Income | $-71.9M | $-68.3M | $-86.7M | $-119.1M | $-124.1M | $311.5M | $-144.2M | $-282.5M | $-182.2M | $-187.8M | $-188.1M | |
| Interest Expense | $-2.2M | $-2.2M | $-2.2M | $-3.8M | $-3.8M | $-7.5M | $-11.7M | $-41.6M | $-63.7M | $-62.0M | $-60.9M | |
| Pretax Income | $-72.2M | $-79.5M | $-83.1M | $-124.2M | $-141.4M | $332.8M | $-128.3M | $-306.6M | $-237.1M | $-193.3M | $-203.2M | |
| Net Income | $-73.4M | $-79.3M | $-83.3M | $-124.2M | $-125.0M | $329.6M | $-126.8M | $-308.5M | $-239.6M | $-199.0M | $-208.9M | |
| EPS (Diluted) | -2.93 | -2.94 | -2.34 | -3.11 | -2.81 | 7.04 | -2.71 | -6.47 | -4.92 | -3.46 | -3.48 | |
| EBITDA | $-64.0M | $-69.7M | $-68.5M | $-113.7M | $-127.0M | $347.6M | $-108.0M | $-253.1M | $-160.7M | $-116.6M | $-129.1M | |
| Shares Out. (M) | 25.04 | 26.98 | 35.64 | 40.00 | 44.47 | 46.84 | 46.73 | 47.67 | 48.65 | 57.50 | 62.74 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $132.5M | $159.4M | $234.9M | $377.8M | $244.9M | $556.3M | $228.0M | $241.4M | $158.9M | $80.2M | $140.0M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $124.8M | $376.5M | $208.6M | $542.3M | $446.6M | |
| Total Current Assets | $143.9M | $162.8M | $236.6M | $384.2M | $258.9M | $628.2M | $476.8M | $651.9M | $390.3M | $656.0M | $615.7M | |
| Total Assets | $190.3M | $209.6M | $273.9M | $448.6M | $340.4M | $809.2M | $705.0M | $831.7M | $556.5M | $824.9M | $778.7M | |
| Total Current Liabilities | $22.7M | $19.2M | $20.0M | $31.6M | $27.3M | $36.8M | $75.9M | $73.7M | $40.1M | $62.9M | $59.2M | |
| Long-Term Debt | $19.6M | $19.7M | $35.5M | $36.1M | $35.6M | $101.0M | $102.8M | $101.7M | $51.3M | $49.7M | $49.9M | |
| Total Liabilities | $126.6M | $120.3M | $94.3M | $125.6M | $96.5M | $213.4M | $229.0M | $624.0M | $563.3M | $626.0M | $629.4M | |
| Stockholders' Equity | $63.6M | $89.4M | $179.6M | $323.1M | $243.9M | $595.8M | $476.0M | $207.7M | $-6.8M | $198.9M | $149.3M | |
| Retained Earnings | $-396.1M | $-475.3M | $-535.5M | $-659.7M | $-784.7M | $-455.1M | $-581.9M | $-890.4M | $-1.13B | $-1.33B | $-1.38B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-72.2M | $-64.3M | $-76.0M | $-98.7M | $-134.8M | $288.0M | $-145.1M | $-145.9M | $-182.7M | $-178.0M | $-172.1M | |
| Capital Expenditure | $-17.2M | $-5.6M | $-4.2M | $-6.6M | $-9.5M | $-17.4M | $-17.7M | $-7.2M | $-11.7M | $-439.0K | $-453.0K | |
| Free Cash Flow | $-89.4M | $-69.9M | $-80.3M | $-105.3M | $-144.3M | $270.5M | $-162.7M | $-153.1M | $-194.4M | $-178.4M | $-172.6M | |
| Investing Cash Flow | $-17.2M | $-5.6M | $-4.2M | $-6.6M | $-9.5M | $-67.4M | $-182.7M | $-205.7M | $163.0M | $-321.6M | $-243.2M | |
| Financing Cash Flow | $2.4M | $90.1M | $158.0M | $248.8M | $7.4M | $94.9M | $1.4M | $362.7M | $-59.5M | $415.4M | $335.3M | |
| Issuance of Stock | $0.00 | $85.3M | $138.4M | $242.7M | $7.4M | $33.7M | $1.4M | $308.0K | $2.1M | $391.9M | $311.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $14.8M | $0.00 | $0.00 | $64.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-148.0K | $0.00 | $0.00 | $0.00 | $0.00 | $-1.6M | $0.00 | $0.00 | $-53.0M | $0.00 | $0.00 | |
| Stock Based Comp. | $6.2M | $10.3M | $10.7M | $17.5M | $21.8M | $25.6M | $34.2M | $35.1M | $22.3M | $17.7M | $18.4M | |
| Net Change in Cash | $-88.5M | $27.5M | $75.5M | $143.4M | $-133.0M | $311.7M | $-328.2M | $13.4M | $-84.2M | $-78.5M | $-77.1M |
Dilution Tracker
Shares outstanding grew 33.9% over 5 years — significant dilution
Shares Outstanding
63M
5-Year Share Growth
+33.9%
Stock Issuance (TTM)
$311.8M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 25.04 | 26.98 | 35.64 | 40.00 | 44.47 | 46.84 | 46.73 | 47.67 | 48.65 | 57.50 | 62.74 | |
| YoY Change % | — | 7.8% | 32.1% | 12.2% | 11.2% | 5.3% | -0.2% | 2.0% | 2.1% | 18.2% | 9.1% | |
| Stock Issuance | $0.00 | $85.3M | $138.4M | $242.7M | $7.4M | $33.7M | $1.4M | $308.0K | $2.1M | $391.9M | $311.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $6.2M | $10.3M | $10.7M | $17.5M | $21.8M | $25.6M | $34.2M | $35.1M | $22.3M | $17.7M | $18.4M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 95.2% | 96.9% | 14.0% | 32.4% | 89.5% | 90.6% | |
| Operating Margin % | -286.7% | -520.9% | -768.2% | -1635.9% | -330.9% | 59.4% | -135.5% | -1783.0% | -671.8% | -1166.8% | -1039.8% | |
| Net Margin % | -292.4% | -604.7% | -738.2% | -1705.8% | -333.3% | 62.9% | -119.1% | -1947.1% | -883.4% | -1236.0% | -1154.4% | |
| EBITDA Margin % | -254.9% | -531.7% | -607.0% | -1561.9% | -338.5% | 66.3% | -101.4% | -1597.6% | -592.7% | -724.2% | -713.8% | |
| FCF Margin % | -356.0% | -532.9% | -711.5% | -1446.7% | -384.7% | 51.6% | -152.8% | -966.3% | -716.9% | -1108.2% | -953.7% | |
| ROE % | -76.6% | -103.6% | -61.9% | -49.4% | -44.1% | 78.5% | -23.7% | -90.2% | -238.5% | -207.1% | -172.1% | |
| ROA % | -32.4% | -39.6% | -34.5% | -34.4% | -31.7% | 57.3% | -16.7% | -40.1% | -34.5% | -28.8% | -28.4% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / 3.05 / 5.77
Industry Med.27.51
P/S139.77
Historical1.23 / 24.35 / 451.04
Industry Med.9.49
P/B17.99
Historical0.91 / 5.52 / 28.04
Industry Med.2.93
EV/EBITDA-18.64
Historical-38.40 / -5.52 / 3.77
Industry Med.13.02
EV/Revenue133.08
Historical-14.66 / 16.36 / 432.77
Industry Med.8.59
P/FCF—
Historical2.26 / 3.62 / 6.02
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$0.87
Median P/S Value
$7.02
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | 2.95 | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 5.59 | 40.31 | 90.91 | 393.74 | 42.81 | 1.85 | 9.95 | 20.39 | 31.71 | 85.46 | 139.77 | |
| PB Ratio | 2.22 | 6.87 | 5.99 | 9.70 | 6.63 | 1.61 | 2.24 | 1.56 | 0.00 | 7.52 | 17.99 | |
| EV/EBITDA | -0.46 | -6.82 | -12.80 | -24.86 | -11.38 | 1.55 | -7.91 | 0.61 | -3.51 | -8.04 | -18.64 | |
| EV/Revenue | 1.16 | 36.27 | 77.73 | 388.36 | 38.50 | 1.03 | 8.03 | -9.82 | 20.78 | 58.22 | 133.08 |
Analyst Estimates & Quality
Altman Z-Score
0.59
Distress
Piotroski F-Score
4
Moderate
Beneish M-Score
-2.85
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $23.84M | $72.79M | $240.31M |
| Net Income | $-230.24M | $-227.19M | $-163.38M |
| EPS | -3.56 | -3.20 | -1.86 |
| Book Value per Share | -4.25 | -3.27 | 0.00 |
| Operating Cash Flow per Share | -3.61 | -2.20 | 0.00 |
| Operating CF | $-226.50M | $-138.04M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Pipeline of innovative gene therapies seeking to deliver to patients suffering from rare and other | $16.1M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $16.1M |