ONCMEDIUM SIGNALFINANCIAL10-K

ONC achieved substantial revenue growth and transitioned to profitability while strengthening its market position as BRUKINSA became the global leader in B-cell malignancies.

The company's transformation from operating losses to $286.9 million in net income demonstrates successful execution of its oncology strategy. The achievement of global market leadership for BRUKINSA despite being a third market entrant, combined with regulatory approval of sonrotoclax in December 2025, positions ONC well for continued growth across its BTK inhibitor franchise.

Comparing 2026-02-26 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

ONC demonstrated strong financial momentum with revenue growing meaningfully to $5.3 billion while achieving profitability and generating over $1 billion in operating cash flow. The balance sheet strengthened considerably with cash increasing 73% to $4.5 billion and total assets expanding 38% to $8.2 billion, while current liabilities declined 17%. Capital expenditures decreased substantially from $493 million to $186 million, contributing to positive free cash flow of $942 million and reflecting a more mature operational profile.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
+73.1%
$2.6B→$4.5B

Cash position surged 73.1% — strong cash generation or capital raise providing significant financial cushion.

Capital Expenditure
Cash Flow
-62.3%
$492.7M→$185.8M

Capex reduced 62.3% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Current Assets
Balance Sheet
+56.2%
$4.0B→$6.2B

Current assets grew 56.2% — improving short-term liquidity or inventory/receivables build.

Total Liabilities
Balance Sheet
+47.9%
$2.6B→$3.8B

Liabilities grew 47.9% — significant increase in debt or obligations, assess impact on financial flexibility.

Gross Profit
P&L
+45.3%
$3.2B→$4.7B

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Total Assets
Balance Sheet
+38.3%
$5.9B→$8.2B

Asset base grew 38.3% — expansion through organic growth, acquisitions, or capital deployment.

Stockholders Equity
Balance Sheet
+30.9%
$3.3B→$4.4B

Equity base grew 30.9% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Accounts Receivable
Balance Sheet
+27.9%
$676.3M→$865.1M

Receivables grew 27.9% — monitor days sales outstanding for collection efficiency.

Inventory
Balance Sheet
+22.9%
$495.0M→$608.2M

Inventory built 22.9% — monitor whether demand supports this build or if write-downs may follow.

Current Liabilities
Balance Sheet
-17.4%
$2.2B→$1.8B

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-27
ADDED
(Exact Name of Registrant as Specified in its Charter) Switzerland 98-1209416 (State or other jurisdiction of incorporation or organization) (I.R.S.
In 2025, we generated total global revenue of approximately $5.3 billion, increasing revenue by approximately 40.2% from the prior year, while achieving net income of $286.9 million, net cash provided by operating activities of $1.1 billion and positive free cash flow of $941.7 million.
We are the only company with potentially best-in-class assets across three foundational chronic lymphocytic leukemia ( CLL ) mechanisms of action ( MoAs ).
This includes BRUKINSA , a proven best-in-class Bruton s tyrosine kinase ( BTK ) inhibitor, sonrotoclax, a next-generation and potentially best-in-class B-cell lymphoma 2 ( BCL2 ) inhibitor that received its first global regulatory approval in December 2025, and our potentially first-in-class and best-in-class BTK chimeric degradation activation compound ( BTK-CDAC ).
BRUKINSA is the only BTK inhibitor to prove superior efficacy to ibrutinib, especially over the long term.
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REMOVED
(Exact Name of Registrant as Specified in its Charter) Cayman Islands 98-1209416 (State or other jurisdiction of incorporation or organization) (I.R.S.
In 2024, we generated total global revenue of approximately $3.8 billion, increasing revenue by approximately $1.4 billion from the prior year, while reducing our operating loss from the prior year by approximately $0.6 billion.
This includes a proven best-in-class Bruton s Tyrosine Kinase inhibitor ( BTKi ), BRUKINSA , and two late-stage assets, sonrotoclax ( BCL2i ) and our first-in-class BTK-CDAC, both of which have the potential to be best-in-class medicines.
BRUKINSA is the only BTKi to prove superior efficacy to ibrutinib.
In less than two years from its first approval in CLL, and despite being the third entrant to the market, BRUKINSA has become the leader in new patients starts in the U.S., in both frontline and R/R CLL, as well as all other approved indications.
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