VYGRHIGH SIGNALFINANCIAL10-K

VYGR shows severe financial deterioration with net losses nearly doubling to $119.7M and operating cash flow plummeting to -$132.5M despite a significant revenue increase.

The company is burning cash at an alarming rate with operating cash flow deteriorating by over 765%, indicating serious liquidity concerns for this biotech company. While revenue jumped dramatically from $1.1M to $10.1M, this was vastly overshadowed by exploding operating losses and cash burn, suggesting the company may face funding challenges to sustain operations.

Comparing 2026-03-09 vs 2025-03-11View on EDGAR →
FINANCIAL ANALYSIS

VYGR experienced dramatic financial deterioration across virtually all key metrics, with net losses nearly doubling to $119.7M and operating cash flow collapsing to -$132.5M despite an impressive 783% revenue increase to $10.1M. The company's balance sheet contracted significantly with total assets falling 36% to $252.3M and stockholders' equity declining 35% to $196.1M, while current liabilities decreased 47% likely due to debt payments or conversions. This financial profile signals a biotech company burning through cash rapidly while struggling to generate meaningful revenue relative to its massive operating expenses, raising concerns about runway and future financing needs.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+782.8%
$1.1M→$10.1M

Strong top-line growth of 782.8% — accelerating demand or successful expansion into new markets.

Operating Cash Flow
Cash Flow
-765.2%
-$15.3M→-$132.5M

Operating cash flow fell 765.2% — earnings quality concerns; investigate working capital changes and non-cash items.

Net Income
P&L
-84.2%
-$65.0M→-$119.7M

Net income declined 84.2% — review whether driven by operations, interest costs, or non-recurring items.

Operating Income
P&L
-58.3%
-$83.3M→-$131.8M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Current Liabilities
Balance Sheet
-46.7%
$49.8M→$26.5M

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

Total Liabilities
Balance Sheet
-39.8%
$93.3M→$56.2M

Liabilities reduced 39.8% — deleveraging improves balance sheet strength and financial flexibility.

Total Assets
Balance Sheet
-35.8%
$393.1M→$252.3M

Total assets contracted 35.8% — asset sales, write-downs, or balance sheet optimization underway.

Stockholders Equity
Balance Sheet
-34.6%
$299.8M→$196.1M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Current Assets
Balance Sheet
-26.8%
$276.8M→$202.7M

Current assets declined 26.8% — monitor working capital adequacy and short-term liquidity.

Capital Expenditure
Cash Flow
-26.3%
$3.5M→$2.6M

Capex reduced 26.3% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

LANGUAGE CHANGES
NEW — 2026-03-09
PRIOR — 2025-03-11
ADDED
As of March 2, 2026, there were 59,599,375 shares of the registrant s common stock, par value $0.001 per share, outstanding.
and Novartis Pharma AG and our licensee Alexion, AstraZeneca Rare Disease (successor-in-interest to former licensee Pfizer Inc.); our collaboration with Transition Bio, Inc.
VY7523, our anti-tau antibody candidate, is in early-stage clinical trials, and all of our other active product candidates, including VY1706, are currently in preclinical development.
We or our collaborators may encounter substantial delays or difficulties in the commencement, enrollment or completion of preclinical studies or clinical trials, or we or our collaborators may fail to demonstrate safety and efficacy sufficient to support further development or to satisfy the applicable regulatory authorities, any of which could prevent us or our collaborators from further developing or commercializing current and future product candidates on a timely basis, if at all.
We may seek to enter into collaborations and out-licensing transactions in the future with other third parties.
+7 more — sign up free →
REMOVED
As of March 3, 2025, there were 55,206,885 shares of the registrant s common stock, par value $0.001 per share, outstanding.
This Annual Report on Form 10-K and the documents filed as exhibits to the Annual Report on Form 10-K contain references to trademarks, service marks and trade names referred to in this Annual Report on Form 10-K and the information incorporated herein, including logos, artwork, and other visual displays, that may appear without the or TM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensor to these trademarks, service marks or trade names.
VY7523, our anti-tau antibody candidate, is in early-stage clinical trials, and all of our other active product candidates are currently in preclinical development.
We may encounter substantial delays or difficulties in commencement, enrollment or completion of our preclinical studies or clinical trials, or we may fail to demonstrate safety and efficacy to the satisfaction of applicable regulatory authorities, any of which could prevent us from commercializing our current and future product candidates on a timely basis, if at all.
Our future success depends on our ability to retain key members of our management and research and development teams, and to attract, retain and motivate qualified personnel.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →